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Financial Statement Anaylsis

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Financial Statement Analysis Project

Summer 2015 – AF 610

Chang Liu, Christy Tepelena, and Ian Houts

6/29/2015


  1. Company Background

Boston Beer works and Craft Beer Alliance company backgrounds.

  1. Financial Statement Analysis
  1. Common-size income statements for Boston Beer Company (attachment 1) and Craft Beer Alliance (attachment 2) are presented following the written portion of this project.
  2. Profitability Ratios:

The Boston Beer Company, Inc.

Craft Beer Alliance, Inc.

2014

2013

2014

2013

ROE

24.58%

25.73%

2.72%

1.76%

ROA

17.30%

17.52%

1.76%

1.15%

EPS

6.69

5.18

0.16

0.10

Profit Margin

10.05%

9.52%

1.43%

1.02%

Gross Profit Margin

51.50%

52.08%

34.15%

33.01%

Operating Profit Margin

16.23%

15.30%

2.66%

1.97%

  1. Turnover Ratios:

The Boston Beer Company, Inc.

Craft Beer Alliance, Inc.

2014

2013

2014

2013

Fixed Asset Turnover

2.97

3.55

2.00

1.85

Total Asset Turnover

1.72

1.84

1.20

1.13

Receivable Turnover

22.90

20.12

18.57

16.92

Average Age of Receivables

15.94

18.14

19.65

21.57

Inventory Turnover

8.15

7.03

7.94

7.75

Average Days' Supply in Inventory

44.76

51.93

45.99

47.11

Accounts Payable Turnover

12.51

11.29

10.19

8.75

Average Age of Payables

29.17

32.33

35.81

41.74

Days to Finance

31.54

37.74

29.83

26.94

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