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    CAso - Tire City Resuelto

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    Caso de harvard, resuelto con proformas

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    CAso - Tire City Resuelto

    Uploaded by

    Jhoseph Mora
    184 views11 pages
    Caso de harvard, resuelto con proformas

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    CAso - Tire city Resuelto

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    Caso de harvard, resuelto con proformas

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    Download as xls, pdf, or txt
    184 views11 pages

    CAso - Tire City Resuelto

    Uploaded by

    Jhoseph Mora
    Caso de harvard, resuelto con proformas

    Copyright:

    © All Rights Reserved
    Download as XLS, PDF, TXT or read online from Scribd
    Download as xls, pdf, or txt
    of 11

    Tire City

    Harvard Business School Case #297-091


    Case Software #XLS092

    Copyright © 2010 President and Fellows of Harvard College. No part of this product may be reproduced, stored in a retr
    means—electronic, mechanical, photocopying, recording or otherwise—without the permission of Harvard Business Schoo
    be reproduced, stored in a retrieval system or transmitted in any form or by any
    ion of Harvard Business School.
    Exhibit 1 Financial Statements for Tire City, Inc.

    For years ending 12/31 1993 1994 1995

    INCOME STATEMENT

    Net sales $16,230 $20,355 $23,505


    Cost of sales 9,430 11,898 13,612
    Gross profit 6,800 8,457 9,893
    Selling, general, and
    administrative expenses 5,195 6,352 7,471
    Depreciation 160 180 213
    Net interest expense 119 106 94
    Pre-tax income 1,326 1,819 2,115 41% 1,445 339385.26%
    Income taxes 546 822 925
    Net income $780 $997 $1,190
    546 0
    Dividends $155 $200 $240 1,326
    41%
    BALANCE SHEET 2.013464 1.9242312423 1.79122632

    Assets
    Cash $508 $609 $706
    Accounts receivable 2,545 3,095 3,652
    Inventories 1,630 1,838 2,190
    Total current assets 4,683 5,542 6,548

    Gross plant & equipment 3,232 3,795 4,163


    Accumulated depreciation 1,335 1,515 1,728
    Net plant & equipment 1,897 2,280 2,435

    Total assets $6,580 $7,822 $8,983

    LIABILITIES 17.1% 12.8% 9.2%

    Current maturities of
    long-term debt $125 $125 $125
    Accounts payable 1,042 1,325 1,440 63.10
    Accrued expenses 1,145 1,432 1,653 5.78
    Total current liabilities 2,312 2,882 3,218 5.79

    Long-term debt 1,000 875 750

    Common stock 1,135 1,135 1,135 9.050


    Retained earnings 2,133 2,930 3,880
    Total shareholders’ equity 3,268 4,065 5,015

    Total liabilities $6,580 $7,822 $8,983


    0.41

    6.50 6.20
    56.15 58.87
    6.47 6.22

    8.980 9.453
    Capital de trabajo
    Activo Corriente - Pasivo corriente
    1993 1994 1995
    2,371 2,660 3,330

    Razón Corriente
    Activos Corrientes/Pasivo corriente
    1993 1994 1995
    2.026 1.923 2.035

    Prueba ácida
    (Efectivo + Inversiones De CP + Cuenta
    1993 1994 1995
    1.32 1.29 1.35

    Razón de efectivo
    Efectivo/Pasivo Corriente
    1993 1994 1995
    0.22 0.21 0.22
    Razón deuda-patrimonio
    Total pasivos/Total patrimonio
    1993 1994 1995
    1.01 0.92 0.79

    Razón deuda-capital
    Total pasivos/(Total patrimonio+Total pasivo)
    1993 1994 1995
    0.50 0.48 0.44

    Deuda neta
    Total Pasivo - Cash - Inversiones a corto plazo
    1993 1994 1995
    2,804 3,148 3,262

    Deuda neta-Valor de la empresa


    Deuda neta/ (Patrimonio +Deuda neta)
    1993 1994 1995
    0.50 0.48 0.44

    Coeficiente de cobertura de intereses


    EBIT/Intereses
    1993 1994 1995
    13.49 19.86 25.77
    Margen bruto
    Utilidad bruta/Ventas netas
    1993 1994 1995
    0.42 0.415 0.421 Este indicador me indica cuanto me representa mi utilidad bruta con
    respecto de mis ventas

    ROA
    Utilidad neta/Activos
    1993 1994 1995
    13.66% 14.10% 14.29% Esta empresa es rentable, puesto que su ROA es mayor del 5%

    ROE
    Utilidad neta/Patrimonio
    1993 1994 1995
    23.87% 24.53% 23.73% Como el ROE>ROA en todos los años, esto quiere decir que la empresa tiene deuda
    . le permite aumentar su rentabilidad financiera

    Margen neto
    Utilidad neta/Ventas netas
    1993 1994 1995
    0.048 0.049 0.051 Me indica cuanto me representa mi utilidad neta con respecto a mis ventas netas

    Margen operacional
    Utilidad operacional/Ventas
    1993 1994 1995
    9.89% 10.34% 10.30%
    del 5%

    que la empresa tiene deuda que financia el activo y

    pecto a mis ventas netas


    Rotación de efectivo
    Cuentas x Cobrar + Inventarios -Cuentas x Pagar
    1993 1994 1995
    3,133.00 3,608.00 4,402.00

    Rotación cuentas por cobrar


    Ventas netas/Cuentas por cobrar
    1993 1994 1995
    6.38 6.58 6.44 Veces
    57 55 57 Días

    Rotación cuentas por pagar


    Ventas netas/Cuentas por pagar
    1993 1994 1995
    15.58 15.36 16.32 Veces
    23 24 22 Días

    Rotación de inventarios
    Costo de ventas/Inventarios
    1993 1994 1995
    5.785 6.473 6.216 Veces
    63 56 59 Días
    Exhibit 1 Financial Statements for Tire City, Inc.

    For years ending 12/31 1993 1994 1995 1996 1997

    INCOME STATEMENT

    Net sales $16,230 $20,355 $23,505 $28,206 $33,847


    Cost of sales 9,430 11,898 13,612 16,403 19,684
    Gross profit 6,800 8,457 9,893 11,803 14,163
    Selling, general, and
    administrative expenses 5,195 6,352 7,471 8,932 10,718
    Depreciation 160 180 213 213 333
    Net interest expense 119 106 94 88 110
    Pre-tax income 1,326 1,819 2,115 2,570 3,002
    Income taxes 546 822 925 $ 1,115 $ 1,302
    Net income $780 $997 $1,190 $ 1,456 $ 1,700
    Dividends $155 $200 $240 $ 291 $ 340
    Utilidad ejercicio $625 $797 $950 $1,165 $1,360

    BALANCE SHEET

    Assets
    Cash $508 $609 $706 $846 $1,015
    Accounts receivable 2,545 3,095 3,652 4,365 5,238
    Inventories 1,630 1,838 2,190 1,625 3,154
    Total current assets 4,683 5,542 6,548 6,836 9,407

    Gross plant & equipment 3,232 3,795 4,163 6,163 6,563


    Accumulated depreciation 1,335 1,515 1,728 1,941 2,274
    Net plant & equipment 1,897 2,280 2,435 4,222 4,289

    Total assets $6,580 $7,822 $8,983 11,058 13,696

    LIABILITIES

    Current maturities of
    long-term debt $125 $125 $125 $125 $125
    Accounts payable 1,042 1,325 1,440 1,792 2,150
    Accrued expenses 1,145 1,432 1,653 1,986 2,383
    Total current liabilities 2,312 2,882 3,218 3,903 4,658

    Long-term debt 1,000 875 750 625 500


    Dent expantion 351 998

    Common stock 1,135 1,135 1,135 1,135 1,135


    Retained earnings 2,133 2,930 3,880 5,045 6,405
    Total shareholders’ equity 3,268 4,065 5,015 6,180 7,540

    Total liabilities $6,580 $7,822 $8,983 $11,058 $13,696


    58.10% 58.45% 57.91% 58.16%

    32.01% 31.21% 31.78% 31.67%

    41.18% 45.19% 43.74% 43.37%

    15.68% 15.21% 15.54% 15.47%

    6.42% 6.51% 6.13% 6.35%


    7.05% 7.04% 7.03% 7.04%

    $ 350.75 $ 997.87

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