You are on page 1of 9

Shell Refining Company

2006

2007

2008

2009

2010

Current ratio

2159309000745899000

2844025000790
4216000

19108680005
71734000

2216935000104912
7000

2388568000838
218000

current
assetscurrent
liabilities

= 1.68 times
= 3.15 times

= 3.34 times

= 2.11 times

= 2.85 times

Acid test ratio

(2159309000829706000)745899000

(28440250001362973000)790
4216000

(1910868000569045000)5
71734000

(2216935000941046000)104912
7000

(23885680001001195000)
838218000

= 1.64 times

= 2.34 times

= 1.21 times

= 2.53 times

87820500013
086128000/3
65

9389150008945794
000/365

1228295000103
76394000/365

=38.3 days

=43.2days

8945794000938915
000

1037639400012
28295000

=current assetsinventorycurrent
liabilities

=1.78 times

Average collection
period

12615710001088684000
0/365

1308591000114
15110000/365

=accounts
receivableannual
credit sales365

= 42.3 days

= 41.8 days

Accounts receivable
Turnover

10886840000126157100
0

= 24.5 days
1141511000013
08591000

13086128000
878205000

= annual
credit
salesaccount
receivable

= 8.6 times

= 8.7 times

= 14.9 times

= 9.53 times

= 8.45 times

Inventory turnover

10532675000829706000

1060781400013
62973000

13429577000
569045000

8528560000941046
000

1022260200010
01195000

= 7.78 times

= 23.6 times

= 9.06 times

= 10.21 times

=cost

of goods
soldinventorie
s

=12.69 times

1.

Liquidity Ratio

*The credit sale is not listed in the annual report. Thus, the annual sales of the company is assumed to be the annual credit sales.
2. Capital Structure Ratio

Debt ratio

debttotal
assets

2006

2007

2008

2009

2010

(745899000+72
3350000)34090
56000

(904216000+70
3810000)40140
31000

(571734000+59
7381000)30897
03000

(1049127000+1
82489000)3329
633000

(838218000+61
6044000)35461
65000

= 43%

= 40%

= 37.8%

=37%

=41%

3229510002966
2000

8282420002016
5000

(407169000)1
8511000

393622000113
88000

177124000133
58000

=total

Times interest earned =net

operating income

or EBITinterest
expense

= 10.89 times

= 41.07 times

=-21.99 times

=34.56 times

=13.26 times

3. Asset Management Efficiency Ratio

Total asset turnover

salestotal assets

2006

2007

2008

2009

2010

1088684000034
09056000

1141511000040
14031000

1308612300
0308970300
0

894579400033296
33000

1037639400035
46165000

=3.19 times

=2.84 times

= 2.69 times

= 2.93 times

894579400011073
45000

1037639400011
53515000

=8.08 times

=9 times

=4.24 times
Fixed asset turnover

=salesnet

plant and
equipment

1088684000012
47716000

1141511000011
67995000

=8.73 times

=9.77 times

1308612300
0117232700
0

=11.16
times

4. Profitability Ratio

Gross profit margin

2006

2007

2008

2009

2010

35416500010886
840000

80729600011415
110000

34344900013086
123000

41234000894579
4000

15379200010376
394000

= gross
profitssales

=3.3%

=7%

=-2.6%

=4.66%

= 1.48%

Operating profit
margin (OPM)

32295100010886
840000

82824200011415
110000

(407169000)1308
6123000

39362200089457
94000

17712400010376
394000

=3%

=7.2%

=-3%

= 4%

= 2%

Net profit margin


(NPM)

25821700010886
840000

59321800011415
110000

33001700013086
123000

28992900089457
94000

10638600010376
394000

net
incomesales

=2.4%

=5.2%

=-2.5%

=3.24%

=1.02%

Operating return
on assets (OROA)

32295100034090
56000

82824200040140
31000

(407169000)3089
703000

39362200033296
33000

17712400035461
65000

=9.5%

=21%

=-13%

=12%

=5%

25821700019398
07000

59321800024060
05000

33001700019205
88000

28992900020980
17000

10638600020919
03000

net
operating
income or
EBITsales
=

net
operating
income or
EBITtotal
assets
=

Return on equity
=

net income
common

equity

=13.3%

=25%

=-17%

=13.82%

=5.09%

Petronas Gas Berhad


1. Liquidity Ratio

Current ratio

current
assetscurrent
liabilities
=

Acid test ratio

2006

2007

2008

2009

2010

1220067000499
930000

1450095000191
166000

2119198000234
370000

2487602000218
185000

2756563000224
336000

= 2.44 times

= 7.59 times

= 9.04 times

= 11.40 times

= 12.29 times

12200670001354070004999
30000

14500950001390390001911
66000

21191980001495500002343
70000

24876020001464130002181
85000

27565630001440170002243
36000

= 2.17 times

= 6.86 times

=8.4 times

=4.69 times

=11.64 times

204946000(283
9298000365)=2
6.35 days

237672000(298
2347000365)=2
9.09 days

261843000(312
5700000365)=3
0.58 days

325190000(341
5100000365)=3
4.76 days

338373000(322
1800000365)=3
8.44 days

2839298000204
946000

2982347000237

3125700000261

3415100000325

3221800000338

=current assetsinventorycurrent liabilities

Average collection period

=accounts
receivableannual credit
sales365
Accounts receivable Turnover

= annual credit
salesaccount
receivable
Inventory turnover
=cost

of goods
soldinventories

672000

843000

190000

373000

=12.55 times

= 11.94 times

=10.50 times

= 9.52 times

9710380001354
07000

1198857000139
039000

1778000000149
550000

2194000001464
13000

2043500000144
017000

=7.17 times

=8.62 times

=11.89 times

=14.99 times

= 14.19 times

= 13.86 times

2. Capital Structure Ratio

Debt ratio
=total

debttotal
assets

Times interest earned

net operating
income or
EBITinterest

2006

2007

2008

2009

2010

2349449000939
7167000

1906811000944
5000

1870908000971
7068000

1829141000980
0832000

1807515000975
0411000

= 0.25%

= 0.20%

= 0.19 %

= 0.19%

= 0.19%

1059753000(34
847000+53868
000)

1257483000(24
426000+34200
000)

1382300000163
44000

1260500000194
02000

1258500000202
35000

=84.58 times

= 64.97 times

= 62.19 times

=11.95 times

= 21.44 times

expense
3. Asset Management Efficiency Ratio

Total asset
turnover
=

2006

2007

2008

2009

2010

283929800093971
67000

298234700094450
00000

312570000097170
68000

341510000098008
32000

322180000097504
11000

= 0.30 times

= 0.32 times

= 0.32 times

= 0.35 times

= 0.33 times

283929800081761
00000

298234700078914
44000

312570000070507
93000

341510000067570
81000

322180000064406
88000

= 0.35 times

= 0.38 times

= 0.44 times

= 0.51times

= 0.50 times

salestotal
assets

Fixed asset
turnover
=salesnet

plant and
equipment

4. Profitability Ratio

Gross profit margin


= gross profitssales

2006

2007

2008

2009

2010

1074555000283
9298000

1256731000298
2347000

1347700000312
5700000

3195700000341
5100000

1178300000322
1800000

= 44%

= 94%

= 37%

1382300000312
5700000

1260500000341
5100000

1258500000322
1800000

= 42%

= 44%

= 37%

= 39%

9710380002839
298000

1198857000298
2347000

1064836000312
5700000

9376550003415
100000

9351940003221
800000

=34%

= 40%

= 34%

= 27%

=29%

1,059,753,0009,
397,167,000

1,257,483,0009,
445,000,000

1382300000971
7068000

1260500000980
0832000

1258500000975
0411000

operating
income or
EBITtotal assets

= 11%

= 13%

= 14%

= 13%

= 13%

Return on equity

9710380007047
718000

1198857000
7538189000

1064836000784
6160000

9376550007971
691000

9351940007942
896000

= 14%

= 16%

= 14%

= 12%

= 12%

Operating profit margin


(OPM)

net operating
income or
EBITsales

Net profit margin (NPM)

net
incomesales
=

Operating return on
assets (OROA)

=net

=net

income
common equity

= 38%

= 42%

1059753000
2839298000

1257483000
2982347000

= 37%

You might also like