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Financial Analysis Forapple Inc

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Financial Analysis Forapple Inc
MBA 606, Managerial Finance
Spring 2008
Pfeiffer/Triangle

Financial Analysis Project

Apple Inc.

Prepared by: Radoslav Petrov
Course Instructor: Dr. Rosemary E. Minyard
Submission Date: 5 May 2008

Petrov, 2
Table of Contents:
I. Purpose and Scope …………………………………………………………………... -3A. Objective of the Research …………………………………………………. -3B. Data Sources ……………………………………………………………….. -3C. Research Methodology …………………………………………………….. -4II. Analysis of Financial Statements (Ratio Analysis) ………………………………… -5A. Balance Sheet ……………………………………………………………… -5B. Income Statement ………………………………………………………….. -9C. Cash Flow Statement ………………………………………………………-11D. Financial Statement Ratios …………………..…………………………… -13E. Other important values …………………………………………………… -17III. Results …………………………………………………………………………..…-20A. Major and Minor Finding ……………………………………………….... -20B. Conclusions ………………………………………………………………. -20C. Projections ………………………………………………………………... -21IV. Works Cited ……………………………………………………………………..... -23V. Appendices ……………………………………………………………………….. -24-

Petrov, 3
The following paper is a Financial Analysis of Apple Inc.

I. Purpose and Scope
A. Objective of the Research
The objective of this paper is to thoroughly analyze Apple’s financial history and status for the last five years (2003 – 2007). Also, Apple’s future growth and financial stability for the next two years will be examined (forecast for 2008-2009). Other important topics will be discussed which include: the growth in net income, the growth in sales revenue, the growth in operating income, the growth in assets, and the growth in various and significant costs. Moreover, MVA, EVA, earnings per share, movements of the stock prices in the past, and the capital structure of Apple Inc will be examined. To support the analysis, different relevant ratios will be calculated for Apple Inc in order to estimate the company’s current status, and also to compare Apple Inc. to the computer industry and its major competitors – Dell and HP.
B. Data Sources
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