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Essay / Research Paper Abstract
This 8 page paper is a comparison of the financial performance of three of the top four supermarkets in the UK, using ratio analysis over the period 2005 – 1009, looking at profitability liquidity, efficiency, solvency and performance as an investment. The bibliography cites 11 sources.
Page Count:
8 pages (~225 words per page)
File: TS14_TEUKsuper09.rtf
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Unformatted sample text from the term paper:
Figure 5 Quick ratio 4 4. Efficiency 4 Figure 6 Return on assets 5 Figure 7 Return on equity 5 Figure 8 Return on capital employed 5 5. Solvency 6 Figure 9 Gearing 6 Figure 10 Debt to equity
ratio 6 Figure 11 Interest rate coverage 6 6. Investment 7 Figure 12 Earnings per share 7 7. Conclusion 8 References 9 1. Introduction Tesco, Sainbury and Morrison are three of the tip four supermarkets, Asda, which
is part of the Wal-Mart chain is the fourth of the top four. When looking at the positions of these three firms in terms of their financial performance it is
apparent that Tesco is the dominant firm, but this does dot mean it has a superior performance in all areas. To consider these the firms different aspects of financial performance
may be measured. It is assumed that the student knows how to calculate the ratios and is aware of other formulas.
All figures given are in ?millions, apart from the per share figures. 2. Profitability A major concern of many internal and external stakeholders is the profitability, there are several
measures of profitability. Here we will look at the gross, operating and net profit margins with net profit being defined as revenue less all costs, including interest, but before tax.
The gross profit margin for Morrions for 2005 was not available, as the firm did not declare the cost of goods sold, at the time the firm was not a
listed company. Figure 1 Gross profit margin Gross Profit Margin 2005 2006 2007 2008 2009 Tesco 7.96% 7.67% 8.12% 7.67% 7.76% Morrisons 2.66% 5.10% 6.31% 6.28% Sainsbury 4.43%
6.64% 6.83% 5.62% 5.48% Figure 2 Operating profit margin Operating profit margin 2005 2006 2007 2008 2009 Tesco 5.74% 5.78% 6.21% 5.90% 5.90% Morrisons 3.22% 0.92% 3.40% 4.72% 4.62% Sainsbury
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