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ACC 498 Financial Statement Analysis

Amazon.com Inc (NMS: AMZN)Income Statement
12/31/2023
12/31/2022
12/31/2021
$ 255,887,000 $ 242,901,000 $ 241,787,000
318,898,000
271,082,000
228,035,000
$ 574,785,000 $ 513,983,000 $ 469,822,000
(In thousands)
Net product sales
Net services sales
Total net sales
Operating Expenses:
Cost of sales
Fulfillment expenses
Marketing expenses
Sales & marketing
Technology & content expenses
General & administrative expenses
Other operating expense (income), net
Total operating expenses & costs
Operating income
Interest income
Interest expense
Other Income
Total non-operating income (expenses)
Income (loss) before income taxes
Provision (benefit) for income taxes
Equity-method investment activity, net of tax
Net income (loss)
Weighted average shares outstanding-basic
Weighted average shares outstanding-diluted
Year end shares outstanding
Net income (loss) per share-basic
Net income (loss) per share-diluted
$ 304,739,000 $ 288,831,000 $ 272,344,000
90,619,000
84,299,000
75,111,000
32,551,000
11,816,000
42,238,000
85,622,000
73,213,000
56,052,000
44,370,000
11,891,000
8,823,000
767,000
1,263,000
62,000
$ 537,933,000 $ 501,735,000 $ 444,943,000
$ 36,852,000 $ 12,248,000 $ 24,879,000
2,949,000
989,000
448,000
(3,182,000)
(2,367,000)
(1,809,000)
938,000
(16,806,000)
14,633,000
705,000
(18,184,000)
13,272,000
37,557,000
(5,936,000)
38,151,000
(7,120,000)
3,217,000
(4,791,000)
(12,000)
(3,000)
4,000
$ 30,425,000
$(2,722,000) $ 33,364,000
$
$
10,304,000
10,492,000
10,383,000
2.95 $
2.90 $
10,189,000
10,189,000
10,242,000
-0.27 $
-0.27 $
10,120,000
10,300,000
10,180,000
3.30
3.24
Amazon.com Inc (NMS: AMZN)
Balance Sheet
(In thousands)
12/31/2023
12/31/2022
Cash & cash equivalents
$ 73,387,000 $
53,888,000
Marketable securities
13,393,000
16,138,000
Inventories
33,318,000
34,405,000
Accounts receivable, net & other current assets, 52,253,000
gross
42,360,000
Total current assets
$ 172,351,000 $
146,791,000
Property & equipment, net
204,177,000
Operating leases
72,513,000
Goodwill
22,789,000
Other assets
56,024,000
Total assets
$ 527,854,000 $
Liabilities and Stockholder Equity
Current Liabilities
Accounts payable
$ 84,981,000 $
Accrued expenses & other current liabilities
64,709,000
Unearned revenue
15,227,000
Total current liabilities
$ 164,917,000 $
Long-term lease liabilities
77,297,000
Long-term debt
58,314,000
Other long-term liabilities
25,451,000
Stockholder Equity
Common stock
$
109,000 $
Treasury stock, at cost
(7,837,000)
Additional paid-in capital
99,025,000
Accumulated other comprehensive income (loss)(3,040,000)
Retained earnings (accumulated deficit)
113,618,000
Total stockholders’ equity (deficit)
$ 201,875,000 $
Total Liabilities and Equity
$ 527,854,000 $
186,715,000
66,123,000
20,288,000
42,758,000
462,675,000
79,600,000
62,566,000
13,227,000
155,393,000
72,968,000
67,150,000
21,121,000
108,000
(7,837,000)
75,066,000
(4,487,000)
83,193,000
146,043,000
462,675,000
ZN)
12/31/2021
$ 36,220,000
59,829,000
32,640,000
32,891,000
$ 161,580,000
160,281,000
56,082,000
15,371,000
27,235,000
$ 420,549,000
$
78,664,000
51,775,000
11,827,000
$ 142,266,000
67,651,000
48,744,000
23,643,000
$
5,000
(1,837,000)
55,538,000
(1,376,000)
85,915,000
$ 138,245,000
$ 420,549,000
Amazon.com Inc (NMS: AMZN)
Cash Flow Statement
(In thousands)
Operating Activities
Net income (loss)
D & Amortization of PPE & capitalized content costs, operating lease assets, & other
Stock-based compensation
Other operating expense (income), net
Other expense (income), net
Deferred income taxes
Inventories
Accounts receivable, net & other current assets
Other assets
Accounts payable
Accrued expenses & other liabilities
Accrued advertising
Net cash flows from operating activities
Financing Activities
Purchases of property & equipment
Proceeds from property & equipment sales & incentives
Acquisition net of cash acquired, marketable securities, and other
Sales and maturines of marketable securities
Purchase of marketable securities
Net cash flows from investing activities
Investing Activities
Common Stock purchased
Proceeds from short-term debt, and other
Repayments of short-term debt, and othe
Proceeds from long-term debt
Repayments of long-term debt
Principal repayments of finance lease
Principal repayments of financing obligation
Net cash provided by (used in) financing activities
Foreign currency effect on cash, cash equivalents, and restricted cash
Net increase (decrease) in cash, cash equivalents, and restricted cas
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, END OF PERIOD
c (NMS: AMZN)
w Statement
12/31/2023
$
12/31/2022
12/31/2021
30,425,000 $ -2,722,000 $ 33,364,000
48,663,000
41,921,000
34,296,000
24,023,000
19,621,000
12,757,000
137,000
(748,000)
16,966,000
(14,306,000)
(5,876,000)
(8,148,000)
(310,000)
1,449,000
(2,592,000)
(9,487,000)
(8,348,000) (21,897,000)
(18,163,000)
(12,265,000) (13,275,000)
(9,018,000)
5,473,000
2,945,000
3,602,000
4,578,000
(1,558,000)
2,123,000
(2,428,000)
84,946,000
46,752,000
46,327,000
(52,729,000)
4,596,000
(5,839,000)
5,627,000
(1,488,000)
(49,833,000)
(63,645,000)
5,324,000
(8,316,000)
31,601,000
(2,565,000)
(37,601,000)
(61,053,000)
5,657,000
(1,985,000)
59,384,000
(60,157,000)
(58,154,000)
18,129,000
(25,677,000)
(3,676,000)
(4,384,000)
(271,000)
(15,879,000)
403,000
19,637,000
73,890,000
(6,000,000) 41,553,000
7,956,000
(37,554,000)
(7,753,000)
21,166,000
19,003,000
(1,258,000)
(1,590,000)
(7,941,000)
(11,163,000)
(248,000)
(162,000)
9,718,000
6,291,000
(1,093,000)
(364,000)
17,776,000
(5,900,000)
54,253,000
36,477,000
Amazon.com Inc (NMS: AMZN)
Statement of Comprehensive Income
(In thousands)
Net income (loss)
Other comprehensive income (loss)
Foreign currency translation adjustments, net of tax
Available-for-sale debt securities:
Change in net unrealized gains (losses), net of tax o
Less: reclassification adjustment for losses (gains) included in “Other income (expense)
Net change
Other, net of tax
Total other comprehensive income (loss)
Comprehensive income (loss)
Amazon.com Inc (NMS: AMZN)
Statement of Stockholder Equity
(In thousands)
Balance as of January 1, 2021
Net income
Other comprehensive income (loss)
Stock-based compensation and issuance of employee benefit plan stock
Balance as of December 31, 2021
Net loss
Other comprehensive income (loss)
Stock-based compensation and issuance of employee benefit plan stock
Common stock repurchased
Balance as of December 31, 2022
Net loss
Other comprehensive income (loss)
Stock-based compensation and issuance of employee benefit plan stock
Balance as of December 31, 2023
(NMS: AMZN)
rehensive Income
12/31/2023
$30,425,000
12/31/2022
12/31/2021
$(2,722,000) $33,364,000
1,027,000
(2,586,000)
(819,000)
366,000
50,000
416,000
4,000
1,447,000
$31,872,000
(823,000)
(343,000)
298,000
(34,000)
(525,000)
(377,000)
(3,111,000) (1,196,000)
-$5,833,000 $32,168,000
Amazon.com Inc (NMS: AMZN)
Statement of Stockholder Equity
Shares
10,066,000
109,000
10,175,000
113,000
(46,000)
10,242,000
141,000
10,383,000
Amount
105,000
1,000
106,000
2,000
108,000
1,000
109,000
Treasury
Stock
(1,837,000)
(1,837,000)
(6,000,000)
(7,837,000)
(7,837,000)
Additional Accumulated
Paid In
Other Comp.
Capital
Income
42,765,000
(180,000)
(1,196,000)
12,672,000
55,437,000
(1,376,000)
(3,111,000)
19,629,000
75,066,000
(4,487,000)
1,447,000
23,959,000
99,025,000
(3,040,000)
Retained
Earmings
52,551,000
33,364,000
85,915,000
(2,722,000)
83,193,000
30,425,000
113,618,000
Total
Stockholder
Equity
93,404,000
33,364,000
(1,196,000)
12,673,000
138,245,000
(2,722,000)
(3,111,000)
193,631,000
(6,000,000)
146,043,000
30,425,000
1,447,000
23,960,000
201,875,000
2 Years Prior
200
190
180
170
160
150
140
130
120
110
100
90
80
70
60
50
40
30
20
10
0
Prior Year
Current Year
172.01
164.25 166.72
163
154.7
151.94
120.6 127.12
113
106.21
103.3
84
1
2
3
Stock Price Quaterly 2021
Quarter Close
Adj. Close
1 154.7
154.7
2 172.01
172.01
3 164.25
164.25
4 166.72
166.72
Stock Price Quaterly 2022
Quarter Close
Adj. Close
1 163
163
2 106.21
106.21
3 113
113
4 84
84
Stock Price Quaterly 2023
Quarter Close
Adj. Close
1 103.29
103.29
2 120.58
120.58
3 127.12
127.12
4 151.94
151.94
4
1
2
3
4
1
2
3
4
200
190
180
170
160
150
140
130
120
110
100
90
80
70
60
50
40
30
20
10
0
HORIZONTAL ANALYSIS
ABC Corporation
Comparative Income Statements
For the Years Ending December 31
Net Sales
Cost of goods sold
Gross Margin
Operating expenses:
Selling expenses
Administrative expenses
Total operating expenses
Income from continuing operations
Income tax expense
Non recurring items
Net income
Current Year
(CY)
Prior Year
(PY)
2 Years Prior
(2YP)
574,785,000
304,739,000
270,046,000
513,983,000
288,831,000
225,152,000
469,822,000
272,344,000
197,478,000
11,816,000
44,370,000
233,194,000
36,852,000
(7,120,000)
(12,000)
30,425,000
42,238,000
11,891,000
212,904,000
12,248,000
3,217,000
(3,000)
(2,722,000)
32,551,000
8,823,000
172,599,000
24,879,000
(4,791,000)
4,000
33,364,000
Percentage Difference
(CY – PY)/PY
(PY – 2YP)/2YP
11.83%
5.51%
19.94%
9.40%
6.05%
14.01%
-72.03%
273.14%
9.53%
200.88%
-321.32%
300.00%
-1217.74%
29.76%
34.77%
23.35%
-50.77%
-167.15%
-175.00%
-108.16%
VERTICAL ANALYSIS
ABC Corporation
Comparative Income Statements
For the Years Ending December 31
Net Sales
Cost of goods sold
Gross Margin
Operating expenses:
Selling expenses
Administrative expenses
Total operating expenses
Income from continuing operations
Income tax expense
Non recurring items
Net income
Current Year
(CY)
Prior Year
(PY)
2 Years Prior
(2YP)
100%
53.02%
46.98%
100%
56.19%
43.81%
100%
57.97%
42.03%
2.06%
7.72%
40.57%
6.41%
-1.24%
0.00%
5.29%
8.22%
2.31%
41.42%
2.38%
0.63%
0.00%
-0.53%
6.93%
1.88%
36.74%
5.30%
-1.02%
0.00%
7.10%
Net Sales
COGS
Gross Margin
Net Income
2YP
469,822,000
272,344,000
197,478,000
33,364,000
PY
513,983,000
288,831,000
225,152,000
(2,722,000)
CY
574,785,000
304,739,000
270,046,000
30,425,000
600,000,000
500,000,000
400,000,000
300,000,000
200,000,000
100,000,000
(100,000,000)
600,000,000
500,000,000
400,000,000
2YP
300,000,000
PY
CY
200,000,000
100,000,000
Net Sales
(100,000,000)
COGS
Gross Margin
Net Income
HORIZONTAL ANALYSIS
ABC Corporation
Comparative Balance Sheets
For the Years Ending December 31
Percentage Difference
Current Year
(CY)
Current assets
Long-term investments
Property, plant, & equipment
Intangible assets
Other assets
Total assets
Current liabilities
Long-term liabilities
Total liabilities
Paid-in capital
Retained earnings
Treasury stock
Total stockholders’ equity
Total liabilities &
stockholders’ equity
Prior Year
(PY)
2 Years Prior
(2YP)
(CY – PY)/PY
Percentage Difference
(PY – 2YP)/2YP
VERTICAL ANALYSIS
ABC Corporation
Comparative Balance Sheets
For the Years Ending December 31
Current Year
(CY)
Current assets
Long-term investments
Property, plant, & equipment
Intangible assets
Other assets
Total assets
Prior Year
(PY)
2 Years Prior
(2YP)
100%
100%
100%
100%
100%
100%
Current liabilities
Long-term liabilities
Total liabilities
Paid-in capital
Retained earnings
Treasury stock
Total stockholders’ equity
Total liabilities and
stockholders’ equity
2 YP
PY
CY
Assets
Liabilities
Stockholders’ Equity
1
1
1
1
0
0
Assets
2 YP
PY
CY
Assets
Liabilities
Stockholders’ Equity
ABC Corporation
Statement of Stockholders’ Equity
For the Year Ending December 31, CY
Common Stock,
$x Par
APIC – CS
Retained
Earnings
Prior Year (PY)
Current Year
(CY)
Balance, January 1
Issuance for additiona shares for cash
Purchase of treasury stock
Net income (loss)
Cash dividends
Treasury stock
Balance, December 31
2 Years Prior
(2YP)
Number of shares outstanding
Treasury Stock
Total
Stockholders’
Equity
Statement of Cash Flows
ABC Corporation
For the Years Ending December 31
Cash Flow Activity
Net cash provided (used by) operating activities
Net cash provided (used by) investing activities
Net cash provided (used by) financing activities
Increase (decrease) in cash
Beginning cash balance
Ending cash balance
Current Year
(CY)
Prior Year
(PY)
2 Years Prior
(2YP)
2 YP
PY
CY
Operating Activities
Investing Activities
Financing Activities
Ending Balance
1
1
1
1
0
0
Operating
Activities
2 YP
PY
CY
Operating
Activities
Investing
Activities
Financing
Activities
Ending Balance
2 YP
PY
CY
Net Income
Operating Activities
1
1
1
1
0
0
Net Income
2 YP
PY
CY
Net Income
Operating Activities
Corporation
Liquidity Ratios:
Current ratio
Quick (acid-test) ratio
Current cash debt ratio
Profitability Ratios:
Profit margin on sales
Return on assets
Return on common equity
Earnings per share
Price-earnings ratio
Payout ratio
Efficiency Ratios:
Accounts receivable turnover
Inventory turnover
Asset turnover
Solvency Ratios:
Debt to assets
Times interest earned
Cash debt coverage
1
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