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Intel Corporation Ratios Financial StatementsCynthia Kenyon and Michael DavisFIN 135, September 3, !11
SAMPOERNA
RATIOS
2012 2011
Short term solvency ratios
C"rrent Ratio 1#$$5% 1#$$&$
'"ic( Ratio !#&5%% !#$!)*
Cash Ratio !#!*5) !#&$&
Net +or(in Capital to C"rrent -iabilities !#$$5% !#$$&$
Asset Utilization or Turnover ratios
.verae Collection /eriod $#&1$& $#&&3*
Inventory 0"rnover Ratios 3) 5#)3!1
Receivable 0"rnover &%#53&* &%#3*35
Fied .sset 0"rnover 15#*&% 13#13&%
0otal .sset 0"rnover #53%& #$3&5
inancial !evera"e ratios
0otal Debt Ratio 20D0.4 !#&)3! !#&*$!
Debt6"ity !#)$ !#%$*
6"ity Ratio 200.4 !#5!$! !#533!
-on7term Debt Ratio 2-0D0.4 !#!3* !#!%%
0imes Interest arned Ratio 28I00I4 !#!!!! !#!!!!
Pro#ita$ility ratios
9ross /ro:it Marin !#$$% !#%$5
Net /ro:it Marin !#1&$ !#153
R;. 2NI0.4 !#3$3* !#&1*5
R; 2NI04 !#$3*% !#$%15
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Intel Corporation Ratios Financial StatementsCynthia Kenyon and Michael DavisFIN 135, September 3, !11
INAN%IA! STATEMENTS
&alance Sheet
Three 'ears En(e( )ecem$er 2*+ 2010,In Millions+ E-ce.t Par /alue 2012 2011
Assets
C"rrent .ssets<
Cash and cash e6"ivalents $%3,5!5 ,!$!,13
Short7term investments
0radin assets 35,&%& ),5*&
.cco"nts receivable, net o: allo=ance :or do"bt:"l acco"nts 1,3$,$5& 1,!),)!*
2>% in !1!, >1) in !!), and >1$ in !!%4
Inventories 15,**),)!* %,)13,3&%
De:erred ta assets 5)),!)! 511,1!5
;ther c"rrent assets ,**$,5$& ,3&,&1&
Total current assets 21+12+1 13+*1+340
Pro.erty+ .lant an( e5ui.ment+ net 3+2*6+217 3+023+13
Mar8eta$le e5uity securities 14*+7 22+177
Other lon"9term investments
:oo(;ill 40+32 40+32
Other lon"9term assets 4+74 71+*13
Total assets 24+237+*27 16+26+7*
!ia$ilities an( stoc8hol(ers< e5uity
C"rrent -iabilities
Short7term debt ,3!*,!3
.cco"nts payable ,&%,111 1,)3%,1!5
.ccr"ed compensation and bene:its 3!,3%% 5,)$$
Share based payment liabilities
.ccr"als &&3,&%5 &3%,$*
;ther accr"ed liabilities 5,5%% 3!,1*1Income ta payable *,**&,! 5,)35,%%)
Total current lia$ilities 11+67+677 +4+30
!on"9term income ta-es .aya$le
!on"9term (e$t *3+670 **4+46
!on"9term (e#erre( ta- lia$ilities *+061 *+*36
Other lon"9term lia$ilities 11+046 64+242
Total !ia$ilities 12+66+107 6+027+0
Stoc8hol(ers< e5uity=
/re:erred stoc(,
5$5,3$ 5%1,5% 0ranslation ad?"stment *1$,5)* 5%*,*$)
Retained earnins 1,115,5%$ ),13&,$33
Total stoc8hol(ers< e5uity 1+0+320 10+02+470
Total lia$ilities an( stoc8hol(ers< e5uity 24+237+*27 16+26+7*
Share Capital, >!#!!1 par val"e, 1!,!!! shares a"thori@edA 5,5%1iss"ed and 5,511 o"tstandin 25,53 iss"ed and o"tstandin in !!)425,5* iss"ed and o"tstandin in !!%4and capital in ecess o: par
val"e
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Intel Corporation Ratios Financial StatementsCynthia Kenyon and Michael DavisFIN 135, September 3, !11
Income Statement
Three 'ears En(e( )ecem$er 2*+ 2010
,In Millions+ E-ce.t Per Share )ata 2012 2011
Net revenue 44+424+12 *2+*4+70
Cost o: sales &%,11%,%35 3$,**1,!5
:ross mar"in 1+*07+2 1*+16*+*0
Mar(etin &,1%3,*35 3,5*,*1)
9eneral and administrative )$3,!3 1,!15,&)$;ther operation 1&),!$ 5,&$%
;ther income 21%,!1&4 251),1$34
O.eratin" e-.enses *+123+01 3+23+321
O.eratin" income 1++2*7 10+611+02
9ains 2losses4 on e6"ity method investments, net
9ains 2losses4 on other e6"ity investments, net 213),%$54 213,3*)4
Interest and other, net
Income $e#ore ta-es 1+23+2 10+67+71
/rovision :or taes 3,&3$,)*1 ,%&*,*5*
Net income 6+0*+321 +0*1+0*7
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Intel Corporation Ratios Financial StatementsCynthia Kenyon and Michael DavisFIN 135, September 3, !11
:u(an" :aram
RATIOS
2012 2011
Short term solvency ratios
C"rrent Ratio #1$ #&
'"ic( Ratio !#& !#1$
Cash Ratio !#!) !#!%
Net +or(in Capital to C"rrent -iabilities 1#1$ 1#&
Asset Utilization or Turnover ratios
.verae Collection /eriod 1!#15 $#)&
Inventory 0"rnover Ratios 1#%& 1#&)
Receivable 0"rnover 35#&* &5#35
Fied .sset 0"rnover &#$ 5#11 0otal .sset 0"rnover 1#1% 1#!$
inancial !evera"e ratios
0otal Debt Ratio 20D0.4 !#3* !#3$
Debt6"ity !#5* !#5)
6"ity Ratio 200.4 !#*& !#*3
-on7term Debt Ratio 2-0D0.4 !#! !#!
0imes Interest arned Ratio 28I00I4 211#1$4 2*#154
Pro#ita$ility ratios
9ross /ro:it Marin !#1) !#&
Net /ro:it Marin !#!% !#1
R;. 2NI0.4 !#1! !#13
R; 2NI04 !#15 !#!
Mar8et value ratios
/ricearnins Ratio 1*#! 1*#!
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Intel Corporation Ratios Financial StatementsCynthia Kenyon and Michael DavisFIN 135, September 3, !11
INAN%IA! STATEMENTS
&alance Sheet
Three 'ears En(e( )ecem$er 2*+ 2010,In Millions+ E-ce.t Par /alue 2012 2011
Assets
C"rrent .ssets<
Cash and cash e6"ivalents 1,%5,$)) 1,!)&,%)5
Short7term investments
0radin assets
.cco"nts receivable, net 1,3%,53) )3,5
other c"rrent asset 3!%,&)) 1!!,*53
Inventories *,*&),$$$ %,!!,!1$
De:erred ta assets 1%*,*3 1&1,1%5
/repaid penses and ;ther c"rrent assets 1&!,$%& 1!1,&%
Total current assets 26+6*3+021 0+1+7*3
Pro.erty+ .lant an( e5ui.ment+ net 10+6+24 +16+1
Ac5uisition relate( to intan"i$le assets+ net
:oo(;ill
Other lon"9term assets 1+14*+67 *17+070
Total assets 31+*06+2* 6+0+70*
!ia$ilities an( stoc8hol(ers< e5uity
C"rrent -iabilities
Short7term debt %,1*&,35! *,1*3,)$%
.cco"nts payable &5$,*33 1,515,%11
.ccr"ed liabilities 1!!,)%$ %3,5)
;ther Short70erm ;bliations %3,&35 1*,353
De:erred income
;ther c"rrent liabilities
Income ta payable &,$)5,)1 5,55&,5%5Total current lia$ilities 1+02+17 1+*3+16
!on"9term income ta-es .aya$le
!on"9term (e$t 1+200 7*6+204
!on"9term (e#erre( ta- lia$ilities 220+06* 233+2*2
Other lon"9term lia$ilities
Total !ia$ilities 13+60+412 13+*7+777
Stoc8hol(ers< e5uity=
0reas"ry Stoc(, at cost
)*,!&& )*,!&&
.dditional paid in capital 53,$!! 53,$!!
.cc"m"lated other comprehensive income 2loss4 213,1!)4
Retained earnins 5,*!3,!$% 3,535,1%&
Total stoc8hol(ers< e5uity 24+40*+71 23+**0+62
Total lia$ilities an( stoc8hol(ers< e5uity 31+*06+2* 6+0+70*
Common stoc(, par val"e >!#!1A 1,5!! shares a"thori@ed on December5, !1! and December *, !!)A shares iss"ed< *)1on December 5,!1! and *$) on December *, !!)A shares o"tstandin< *%3 onDecember 5, !1! and *$1 on December *, !!)#
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Intel Corporation Ratios Financial StatementsCynthia Kenyon and Michael DavisFIN 135, September 3, !11
Income Statement
Three 'ears En(e( )ecem$er 2*+ 2010
,In Millions+ E-ce.t Per Share )ata 2012 2011
Net revenue 36+02+464 31+3+*2
Cost o: sales 3),%&3,)$& 31,$5&,)%&
:ross mar"in 6+13+722 10+126+4
Mar(etin
9eneral and administrative 3,1$$,51* 3,)!,$*;ther operation 5&,%& 1*,))1
;ther income 2$3,))4 2&*,34
O.eratin" e-.enses +1*6+031 +241+6*
O.eratin" income 4+02*+41 4+47+67
Interest Income
Interest pense &)5,!35 53,!!
Interest and other, net
Income $e#ore ta-es *+*0+434 4+413+671
/rovision :or taes 1,&*1,)35 1,*5*,%*)
6"ity in net loss o: investee
Net income 3+04+711 3+6*+102
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Intel Corporation Ratios Financial StatementsCynthia Kenyon and Michael DavisFIN 135, September 3, !11
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Intel Corporation Ratios Financial StatementsCynthia Kenyon and Michael DavisFIN 135, September 3, !11
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Intel Corporation Ratios Financial StatementsCynthia Kenyon and Michael DavisFIN 135, September 3, !11
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)uPont A
Sales
5,%5*,$!%#!! Net Income
Cost o: 9oods Sold %,!51,!5$#!!
3$,**1,!5#!!
;peratin penses
&,%&,&1#!! Sales
;ther Inc#p# 5,%5*,$!%#!!213,3*)#!!4
0aes
,%&*,*5*#!! Sales
5,%5*,$!%#!!
C"rrent .ssets
1&,%51,&*!#!! 0otal .ssets
Net Fied .ssets 1),3),$5%#!!
&,&$%,)%#!!
C"rrent -iabilities
%,3*%,&!%#!! 0otal -iabilities
-on7term Debt ),!$,!%%#!!
*5%,*%!#!!
Stoc(holders 6"ity
1!,3!,*$!#!!
IncomeStatement
&alanceSheet
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SAMPOERNA
nalysis 2011
Net /ro:it Marin
SMPN
15#3B
::RM
11#%&B
SMPN
&1#*5B
0#.# 0"rnover ::RM
SMPN 1#*%B
$3#&5B
::RM
1!$#15B
SMPN
$%#15B
0otal -iab# 6"ity ::RM
SMPN !#!B
1),3),$5%#!!
::RM
3),!%%,$!5#!!
SMPN
1#%%
Stoc(holders 6"ity ::RMSMPN 1#5)
1!,3!,*$!#!!
::RM
&,55!,)%#!!
Ret"rn on .ssets
2R;.4
Ret"rn on 6"ity2R;4
Financial -everaeM"lt# 2F-M4
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)uPont A
Sales
**,**,13#!! Net Income
Cost o: 9oods Sold ),%!5,&1#!!
&%,11%,%35#!!
;peratin penses
5,1&,!31#!! Sales
;ther Inc#p# **,**,13#!!213),%$5#!!4
0aes
3,&3$,)*1#!! Sales
**,**,13#!!
C"rrent .ssets
1,1%,313#!! 0otal .ssets
Net Fied .ssets *,&$,5$#!!
5,11),1&#!!
C"rrent -iabilities
11,%)$,)$$#!! 0otal -iabilities
-on7term Debt 1,)3),1!$#!!
1,!&1,13!#!!
Stoc(holders 6"ity
13,3!%,&!#!!
IncomeStatement
&alanceSheet
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SAMPOERNA
nalysis 2012
Net /ro:it Marin
SMPN
1&#$B
::RM
%#3!B
SMPN
3$#3*B
0#.# 0"rnover ::RM
SMPN )#%!B
53#%&B
::RM
11%#11B
SMPN
$3#*%B
0otal -iab# 6"ity ::RM
SMPN 15#)B
*,&$,5$#!!
::RM
&1,5!),35#!!
SMPN
1#)$
Stoc(holders 6"ity ::RMSMPN 1#5*
13,3!%,&!#!!
::RM
*,*!5,$13#!!
Ret"rn on .ssets
2R;.4
Ret"rn on 6"ity2R;4
Financial -everaeM"lt# 2F-M4
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)
SAMPOERNA
Three-Step DuPont Model:
Return on E5uity
Five-Step DuPont Model:
Return on E5uity
Net /ro:it Marin 2Net Income Sales4
.sset 0"rnover 2Sales .verae .ssets4
6"ity M"ltiplier 2.verae .ssets .verae 6"ity4
/re7Interest /reta Marin 28I0 Sales4
.sset 0"rnover 2Sales .verae .ssets4
Interest 8"rden E28I0 7 Interest pense4 8I0
0a ::iciency E1 7 20a pense 28I0 7 Interest pense44
6"ity M"ltiplier 2.verae .ssets .verae 6"ity4
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uPont Analysis Summa
2011 2012 2012 2011
15#3B 1&#$B %#3!B 11#%&B
$3#&5B 53#%&B 11%#11B 1!$#15B
1#%% 1#)$ 1#5* 1#5)
$%#15B $3#*%B 15#)B !#!B
!#*&B !#!)B 1#)B 1*#&!B
$3#&5B 53#%&B 11%#11B 1!$#15B
1#!! !#)) !#) !#)*
!#$& !#$& !#$& !#$5
1#%% 1#)$ 1#5* 1#5)
$%#15B $3#*%B 15#)B !#!B
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y
:U)AN: :ARAM
Three-Step DuPont Model:
Return on E5uity
Five-Step DuPont Model:
Return on E5uity
Net /ro:it Marin 2Net Income Sales4
.sset 0"rnover 2Sales .verae .ssets4
6"ity M"ltiplier 2.verae .ssets .verae 6"ity4
/re7Interest /reta Marin 28I0 Sales4
.sset 0"rnover 2Sales .verae .ssets4
Interest 8"rden E28I0 7 Interest pense4 8I0
0a ::iciency E1 7 20a pense 28I0 7 Interest pense44
6"ity M"ltiplier 2.verae .ssets .verae 6"ity4