Company ABC Company ABC Tomas Heryan, PhDDepartment of Finance & AccountingSilesian University, SBA in KarvinaCZECHIA, EU 2018 Current assets Cash and cash equivalents Receivables short-term Receivables long-term Stock/Inventories Other current ass. Prepaid expenses Fixed assets Long-term investments Tangible assets Intangible assets TOTAL ASSETS Debt capital Bank loans Payable short-term Payables long-term Reserves Other liabilities Equity Net income Income from previous years Funds from earnings Retained earnings and other reserves Stated capital TOTAL LIABILITIES 1 075 461 29 770 954 737 0 90 954 40 772 1 163 979 318 1 163 204 457 2 280 212 1 219 928 75 584 869 011 55 220 220 113 0 1 060 284 662 795 0 18 735 7 563 371 191 2 280 212 2019 1 362 674 939 1 271 082 0 90 653 45 823 1 166 448 100 1 106 255 60 093 2 574 945 1 323 086 0 1 087 798 62 965 172 323 30 504 1 221 355 989 322 0 37 120 7 563 187 350 2 574 945 Company ABC Company ABC Company ABC 2020 2021 2022 1 049 315 910 955 575 0 92 830 6 931 1 251 703 100 1 198 233 53 370 2 307 949 1 384 531 0 1 124 889 59 942 199 700 61 063 862 355 630 322 1 37 119 7 563 187 350 2 307 949 722 964 403 630 153 0 92 408 261 1 451 855 100 1 410 414 41 341 2 175 080 1 400 615 0 1 309 863 59 173 31 579 24 344 750 121 518 088 1 37 119 7 563 187 350 2 175 080 340 753 0 334 668 0 6 085 386 558 1 373 007 1 302 518 45 186 25 303 2 100 318 1 431 468 0 1 419 605 3 978 7 885 0 668 850 436 818 0 37 119 7 563 187 350 2 100 318 Horizontal analysis (in absolute values) 1st change 287 213 -28 831 316 345 0 -301 5 051 2 469 -218 -56 949 59 636 294 733 103 158 -75 584 218 787 7 745 -47 790 30 504 161 071 326 527 0 18 385 0 -183 841 294 733 2nd change 3rd change 4th change -313 359 -326 351 -382 211 -29 -507 -403 -315 507 -325 422 -295 485 0 0 0 2 177 -422 -86 323 -38 892 -6 670 386 297 85 255 200 152 -78 848 0 0 1 302 418 91 978 212 181 -1 365 228 -6 723 -12 029 -16 038 -266 996 -132 869 -74 762 61 445 16 084 30 853 0 0 0 37 091 184 974 109 742 -3 023 -769 -55 195 27 377 -168 121 -23 694 30 559 -36 719 -24 344 -359 000 -112 234 -81 271 -359 000 -112 234 -81 270 1 0 -1 -1 0 0 0 0 0 0 0 0 -266 996 -132 869 -74 762 Vertical analysis (relatively in %) 2018 47,16 % 1,31 % 41,87 % 0,00 % 3,99 % 1,79 % 51,05 % 0,01 % 51,01 % 0,02 % 100,00 % 53,50 % 3,31 % 38,11 % 2,42 % 9,65 % 0,00 % 46,50 % 29,07 % 0,00 % 0,82 % 0,33 % 16,28 % 100,00 % 2019 52,92 % 0,04 % 49,36 % 0,00 % 3,52 % 1,78 % 45,30 % 0,00 % 42,96 % 2,33 % 100,00 % 51,38 % 0,00 % 42,25 % 2,45 % 6,69 % 1,18 % 47,43 % 38,42 % 0,00 % 1,44 % 0,29 % 7,28 % 100,00 % 2020 45,47 % 0,04 % 41,40 % 0,00 % 4,02 % 0,30 % 54,23 % 0,00 % 51,92 % 2,31 % 100,00 % 59,99 % 0,00 % 48,74 % 2,60 % 8,65 % 2,65 % 37,36 % 27,31 % 0,00 % 1,61 % 0,33 % 8,12 % 100,00 % 2021 33,24 % 0,02 % 28,97 % 0,00 % 4,25 % 0,01 % 66,75 % 0,00 % 64,84 % 1,90 % 100,00 % 64,39 % 0,00 % 60,22 % 2,72 % 1,45 % 1,12 % 34,49 % 23,82 % 0,00 % 1,71 % 0,35 % 8,61 % 100,00 % 2022 16,22 % 0,00 % 15,93 % 0,00 % 0,29 % 18,40 % 65,37 % 62,02 % 2,15 % 1,20 % 100,00 % 68,15 % 0,00 % 67,59 % 0,19 % 0,38 % 0,00 % 31,85 % 20,80 % 0,00 % 1,77 % 0,36 % 8,92 % 100,00 % 2018 TOTAL ASSETS Fixed assets Current assets 2019 2020 2021 2022 2 280 212 2 574 945 2 307 949 2 175 080 2 100 318 1 163 979 1 166 448 1 251 703 1 451 855 1 373 007 1 075 461 1 362 674 1 049 315 722 964 340 753 1st change 2nd change 3rd change 4th change TOTAL ASSETS Fixed assets Current assets 294 733 2 469 287 213 Fixed assets Current assets Other assets 51,05 % 47,16 % 1,79 % 45,30 % 52,92 % 1,78 % 54,23 % 45,47 % 0,30 % 66,75 % 33,24 % 0,01 % 65,37 % 16,22 % 18,40 % 2018 2019 2020 2021 2022 2018 TOTAL LIABILITIES Equity Debt capital -266 996 85 255 -313 359 2019 -132 869 200 152 -326 351 2020 -74 762 -78 848 -382 211 2021 2022 2 280 212 2 574 945 2 307 949 2 175 080 2 100 318 1 060 284 1 221 355 862 355 750 121 668 850 1 219 928 1 323 086 1 384 531 1 400 615 1 431 468 1st change 2nd change 3rd change 4th change TOTAL LIABILITIES Equity Debt capital 294 733 161 071 103 158 Equity Debt capital Other Liabilities 46,50 % 53,50 % 0,00 % 2018 -266 996 -359 000 61 445 2019 47,43 % 51,38 % 1,18 % -132 869 -112 234 16 084 2020 37,36 % 59,99 % 2,65 % -74 762 -81 271 30 853 2021 34,49 % 64,39 % 1,12 % 2022 31,85 % 68,15 % 0,00 % HORIZONTAL analysis ASSETS 2 574 945 2 307 949 2 175 080 2 100 318 Thousand of currency 2 280 212 1 451 855 1 373 007 1 251 703 1 166 448 1 163 979 1 362 674 1 075 461 1 049 315 722 964 340 753 TOTAL ASSETS Fixed assets Current assets Main changes among ASSETS 294 733 287 213 200 152 Thousand of currency 85 255 TOTAL ASSETS -74 762 2 469 Fixed assets Current assets -78 848 -132 869 -266 996 -313 359-326 351 -382 211 VERTICAL analysis ASSETS 1,79 % 1,78 % 0,30 % 0,01 % 18,40 % 33,24 % 52,92 % Property structure in % 47,16 % 45,47 % 51,05 % 2018 45,30 % 2019 16,22 % 66,75 % 65,37 % 2021 2022 54,23 % 2020 HORIZONTAL analysis LIABILITIES 2 574 945 2 307 949 2 175 080 2 100 318 Thousand of currency 2 280 212 1 431 468 1 400 615 1 384 531 1 323 086 1 219 928 1 221 355 1 060 284 862 355 750 121 TOTAL LIABILITIES Equity 668 850 Debt capital Main changes among LIABILITIES 294 733 Thousand of currency 161 071 103 158 61 445 TOTAL LIABILITIES Equity -74 762 -132 869 16 084 Debt capital -112 234 -266 996 -359 000 -81 271 30 853 VERTICAL analysis LIABILITIES 1,18 % 53,50 % 51,38 % 2,65 % 1,12 % 0,00 % 59,99 % 64,39 % 68,15 % 37,36 % 34,49 % 31,85 % 2021 2022 Capital structure in % 0,00 % 46,50 % 2018 47,43 % 2019 2020 Company ABC Company ABC Tomas Heryan, PhDDepartment of Finance & AccountingSilesian University, SBA in KarvinaCZECHIA, EU 2018 Receivables long-term Expenses/costs on sold goods Sales margin Rendering services Expenses/costs on rendering services Added value Salaries and wages Taxes and fees Depreciation / Amortization Sales from fixed assest Changes among the operating reserves Other operating revenues Other operating expenses Transfer of operating revenues Transfer of operating expenses Operating profit/loss Sales from selling shares Sold financial instruments Revenues from financial investments Revenues from short-term financial assets Expenses from short-term financial assets Revenues from the shares overpricing Expenses from the shares overpricing Changes among the financial reserves Interest revenues Interest expenses Other financial revenues Other financial expenses Transfer of financial revenues Transfer of financial expenses Profit or loss from financial operations Income taxes Profit or loss from ordinary activity Other revenues Other expenses Other taxes Extraordinary profit/loss Net income 444 662 252 468 192 194 3 946 306 2 574 675 1 563 825 588 493 2 289 186 856 43 318 3 415 16 826 33 849 0 0 779 273 0 0 34 736 0 0 0 0 0 2 262 1 720 41 856 31 935 0 0 45 199 161 677 662 795 0 0 0 0 501 118 2018 Profit or loss from ordinary activity Net income Operating profit/loss Profit or loss from financial operations Extraordinary profit/loss 662 795 501 118 779 273 45 199 0 1st change Profit or loss from ordinary activity Net income Operating profit/loss Profit or loss from financial operations Extraordinary profit/loss 326 527 334 881 -452 318 625 0 2019 385 527 297 719 87 808 3 881 876 2 523 684 1 446 000 526 934 3 701 183 491 39 010 -45 148 7 712 23 537 0 0 778 821 349 229 152 0 0 0 0 0 0 711 172 41 752 27 544 0 0 363 824 153 323 989 322 0 0 0 0 835 999 2019 989 322 835 999 778 821 363 824 0 2nd change -359 000 -357 561 27 435 -387 874 0 Company ABC 2020 457 132 375 437 81 695 4 251 683 2 719 677 1 613 701 536 638 1 407 204 913 6 421 25 116 44 720 87 477 0 0 806 256 0 0 0 0 0 0 0 0 2 072 3 071 52 101 75 152 0 0 -24 050 151 884 630 322 0 0 0 0 478 438 2020 630 322 478 438 806 256 -24 050 0 3rd change -112 234 -93 342 -158 071 26 945 0 Company ABC Company ABC 2021 399 379 343 492 55 887 4 585 277 3 144 807 1 496 357 599 031 1 227 224 944 4 740 -16 366 50 006 88 182 0 0 648 185 0 0 0 0 0 0 0 0 19 2 316 75 769 70 577 0 0 2 895 132 992 518 088 0 0 0 0 385 096 2021 518 088 385 096 648 185 2 895 0 4th change -123 176 11 215 -145 727 -28 018 41 906 2022 1 772 479 1 400 002 372 477 1 639 825 1 211 258 801 044 240 795 919 80 126 99 747 -19 293 7 929 2 957 0 0 502 458 0 0 0 0 0 0 0 0 0 4 719 81 511 101 925 0 0 -25 123 82 413 394 912 61 200 9 464 9 830 41 906 396 311 2022 394 912 396 311 502 458 -25 123 41 906 Horizontal analysis (in absolute values) 1st change -59 135 45 251 -104 386 -64 430 -50 991 -117 825 -61 559 1 412 -3 365 -4 308 -48 563 -9 114 -10 312 0 0 -452 349 229 152 -34 736 0 0 0 0 0 -1 551 -1 548 -104 -4 391 0 0 318 625 -8 354 326 527 0 0 0 0 334 881 2nd change 71 605 77 718 -6 113 369 807 195 993 167 701 9 704 -2 294 21 422 -32 589 70 264 37 008 63 940 0 0 27 435 -349 229 -152 0 0 0 0 0 0 1 361 2 899 10 349 47 608 0 0 -387 874 -1 439 -359 000 0 0 0 0 -357 561 3rd change 4th change -57 753 -31 945 -25 808 333 594 425 130 -117 344 62 393 -180 20 031 -1 681 -41 482 5 286 705 0 0 -158 071 0 0 0 0 0 0 0 0 -2 053 -755 23 668 -4 575 0 0 26 945 -18 892 -112 234 0 0 0 0 -93 342 1 373 100 1 056 510 316 590 -2 945 452 -1 933 549 -695 313 -358 236 -308 -144 818 95 007 -2 927 -42 077 -85 225 0 0 -145 727 0 0 0 0 0 0 0 0 -19 2 403 5 742 31 348 0 0 -28 018 -50 579 -123 176 61 200 9 464 9 830 41 906 11 215 Vertical analysis (relatively in %) 2018 89 % 50 % 38 % 788 % 514 % 312 % 117 % 0% 37 % 9% 1% 3% 7% 0% 0% 156 % 0% 0% 7% 0% 0% 0% 0% 0% 0% 0% 8% 6% 0% 0% 9% 32 % 132 % 0% 0% 0% 0% 100 % 2019 46 % 36 % 11 % 464 % 302 % 173 % 63 % 0% 22 % 5% -5 % 1% 3% 0% 0% 93 % 42 % 0% 0% 0% 0% 0% 0% 0% 0% 0% 5% 3% 0% 0% 44 % 18 % 118 % 0% 0% 0% 0% 100 % 2020 96 % 78 % 17 % 889 % 568 % 337 % 112 % 0% 43 % 1% 5% 9% 18 % 0% 0% 169 % 0% 0% 0% 0% 0% 0% 0% 0% 0% 1% 11 % 16 % 0% 0% -5 % 32 % 132 % 0% 0% 0% 0% 100 % 2021 104 % 89 % 15 % 1191 % 817 % 389 % 156 % 0% 58 % 1% -4 % 13 % 23 % 0% 0% 168 % 0% 0% 0% 0% 0% 0% 0% 0% 0% 1% 20 % 18 % 0% 0% 1% 35 % 135 % 0% 0% 0% 0% 100 % 2022 447 % 353 % 94 % 414 % 306 % 202 % 61 % 0% 20 % 25 % -5 % 2% 1% 0% 0% 127 % 0% 0% 0% 0% 0% 0% 0% 0% 0% 1% 21 % 26 % 0% 0% -6 % 21 % 100 % 15 % 2% 2% 11 % 100 % HORIZONTAL analysis PROFIT & LOSS statement 989 322 835 999 806 256 779 273 778 821 Popis osy 662 795 648 185 630 322 518 088 501 118 502 458 478 438 396 311 394 912 363 824 385 096 Profit or loss from ordinary activity Net income Operating profit/loss 45 199 -24 050 -25 123 Profit or loss from financial operations 2 895 41 906 0 Extraordinary 0 0 profit/loss 0 Changes among PROFIT & LOSS statement 334 881 Thousand of currency 326 527 Profit or loss from ordinary activity -112 234 318 625 Net income 11 215 -452 27 435 Operating profit/loss 26 945 -28 018 Profit or loss from financial operations -93 342 -158 071 -123 176 -145 727 -359 000 -357 561 -387 874 41 906 0Extraordinary 0 profit/loss 0 Tomas Heryan, PhDDepartment of Finance & AccountingSilesian University, SBA in KarvinaCZECHIA, EU Liquidity ratios: Cash Position Ratio (L1) = cash and equivalents / short term liabilities Qick test (L2) = (current assets - inventories) / short term liabilities Current liquidity (L3) = current assets / short term liabilities Working capital = current assets - short term liabilities Working capital's Turnover = sales / working capital Return ratios: ROA = EAT / total assets (return on assets with earnings after tax) ROI = EBIT / total assets (with earnings before interest and taxes) ROE = EAT / equity (return on euity) ROS = EAT / tržby (return on sales) Activity ratios: Asset Turnover Ratio = sales / total assets Assets' Turnover = 365 / Asset Turnover Ratio (result in days) Inventory Turnover Ratio = sales / Inventories Inventories' Turnover = 365 / Inventory Turnover Ratio (result in days) Receivable Turnover Ratio = sales / pohledávky Receivables' Turnover = 365 / Receivable Turnover Ratio (result in days) Payable Turnover Ratio = sales / závazky Payables' Turnover = 365 / Payable Turnover Ratio (result in days) Period of credit from creditors Debt ratios: Debt ratio = debt equity / total assets Equity ratio = equity / total assets Financial leverage = total assets / equity Debt/equity ratio = debt equity / equity Interests covering = (EBIT) / interests paid Max. interest rate = financial expenses / (equity+bank loans+bonds) Possibility of other debt taking 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019 0,03 0,00 0,00 0,00 1,04 1,17 0,85 0,48 1,14 1,25 0,93 0,55 130 866 274 876 -75 574 -586 899 33,88 16,94 -62,39 -8,50 21,98 % 32,47 % 20,73 % 17,70 % 34,18 % 30,25 % 34,93 % 29,80 % 47,26 % 68,45 % 55,48 % 51,34 % 11,30 % 17,96 % 10,15 % 7,72 % 1,94 187,69 48,75 7,49 4,64 78,59 5,10 71,53 -7,06 2018 1,81 201,87 51,36 7,11 3,66 99,65 4,28 85,28 -14,37 2020 2,04 178,66 50,79 7,19 4,93 73,97 4,19 87,08 13,11 2021 2019 2020 2021 2,29 159,12 53,99 6,76 7,92 46,10 3,81 95,82 49,72 53,50 % 51,38 % 59,99 % 64,39 % 46,50 % 47,43 % 37,36 % 34,49 % 2,151 2,108 2,676 2,900 1,151 1,083 1,606 1,867 23,155 28,100 10,307 8,892 2,96 % 2,27 % 9,07 % 9,72 % YES YES YES YES 2022 0,00 0,24 0,24 -1 078 852 -3,26 2022 18,87 % 23,92 % 59,25 % 11,28 % 2022 1,67 218,28 577,17 0,63 10,49 34,78 2,47 147,54 112,76 2022 68,15 % 31,85 % 3,140 2,140 4,712 15,94 % YES L1 (0.20 - 1.00) L2 (1.00 - 1.50) L3 (1.50 - 2.00) ROA (EAT) ROI (EBIT) ROE (EAT) ROS (EAT) Inventories' Turnover Recievables' Turnover Payables' Turnover Credit's Turnover Debt ratio Equity ratio 2018 0,03 1,04 1,14 2019 0,00 1,17 1,25 2020 0,00 0,85 0,93 2021 0,00 0,48 0,55 2022 0,00 0,24 0,24 2018 21,98 % 34,18 % 47,26 % 11,30 % 2019 32,47 % 30,25 % 68,45 % 17,96 % 2020 20,73 % 34,93 % 55,48 % 10,15 % 2021 17,70 % 29,80 % 51,34 % 7,72 % 2022 18,87 % 23,92 % 59,25 % 11,28 % 2018 7,49 78,59 71,53 -7,06 2019 7,11 99,65 85,28 -14,37 2020 7,19 73,97 87,08 13,11 2021 6,76 46,10 95,82 49,72 2022 0,63 34,78 147,54 112,76 2018 2019 2020 2021 2022 53,50 % 51,38 % 59,99 % 64,39 % 68,15 % 46,50 % 47,43 % 37,36 % 34,49 % 31,85 % LIQUIDITY ratios 1,25 value of the ratio 1,17 1,14 1,04 0,93 0,85 0,55 0,48 0,24 0,24 0,03 0,00L1 (0.20 - 1.00) 0,00 0,00 0,00 L2 (1.00 - 1.50) L3 (1.50 - 2.00) RETURN ratios 68,45 % 59,25 % 55,48 % 51,34 % RATIO in % 47,26 % 34,18 % 34,93 % 30,25 % 29,80 % 32,47 % 23,92 % 21,98 % 20,73 % 18,87 % 17,70 % 17,96 % 11,30 % 10,15 % 11,28 % 7,72 % ROA (EAT) ROI (EBIT) ROE (EAT) ROS (EAT) ACTIVITY ratios 147,54 112,76 99,65 Period in DAYS 78,59 95,82 87,08 85,28 71,53 73,97 49,72 46,10 34,78 7,49 7,11 7,19 6,76 Inventories' Turnover 13,11 0,63 Recievables' Turnover Payables' Turnover -7,06 Credit's Turnover -14,37 DEBT ratios 64,39 % 68,15 % 59,99 % 51,38 % 46,50 % 47,43 % SHARE in % 53,50 % 37,36 % Debt ratio Equity ratio 34,49 % 31,85 %