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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 &#51) 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




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




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




: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*#!




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 *, !!)#




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












)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







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







%OMMENTAR'







)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







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







%OMMENTAR'







)

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


Interest 8"rden E28I0 7 Interest pense4 8I0

0a ::iciency E1 7 20a pense 28I0 7 Interest pense44




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



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



/re7Interest /reta Marin 28I0 Sales4


Interest 8"rden E28I0 7 Interest pense4 8I0

0a ::iciency E1 7 20a pense 28I0 7 Interest pense44


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