company's performance
DESCRIPTION
Slides show the tables and graphs for understanding. Details of the research and analysis can be found in www.parthasen.netTRANSCRIPT
Tate & Lyle PLC Cranswick plc
200
9201
0 2011201
2201
3200
9 2010 2011 2012201
3
Profitability
Operating Margin% 7.06 8.88 10.8
811 10.7 11 4.2 7.8 10.8 9.7
Profit Margin % 5.77 6.79 9.3 10.1 9.83 6.77 1.12 3.87 6.69 6.23
ROE% 13.5 22.3 16.4
117.3 20 17.9 2.68 9.24 20.39 18.9
ROCE% 9.86 10.4 14.5
317.2 18.5 10.6 0.87 4.2 9.19 8.98
Financial Health
Interest Cover x 4.66 4.13 6.5 10.8 11.7 10.4 4.48 5.04 8.32 8.81
Quick Ratio r 0.98 1.25 1.39 1.24 1.44 0.85 1.09 1.16 1.34 1.55
Current Ratio r 1.36 1.72 1.93 1.91 2.31 1.51 1.85 1.97 2.27 2.53
Growth
Norm EPS Growth % 13.8 48 -25.2 15.8 13.3 35.9 -84.7 307.4 141.8 2.82
CAPEX PS p 49.5 14.2 7.15 27.5 28.2 5.78 3.98 3.64 4.23 4.56
Table 1: Accounting ratios for Tate & Lyle PLC and competitor
Ratios are analyzed based on data collected from Annual reports (CRANSWICK, 2013 & Tate & Lyle, 2013)
Table 2: The horizontal trends for Tate & Lyle PLC and competitor: Income Statement
2010 2011 2012 2013
Tate & Lyle PLC
Revenue -28.7 7.4 13.5 5.4 Operating Profit (reported) -126.8 788.6 33.3 -16.8
Pre-tax Profit -202.7 311.2 54.7 -18.5
Profit After Tax -122.3 1033.3 56.6 -15.3
Cranswick plc
Revenue -6.9 18.9 42.4 10.4
Operating Profit -64.7 121.6 97.9 -0.4
Pre-tax Profit -71.6 139.1 115.6 1.3
Profit After Tax -84.6 312.2 146.2 2.9
Data for Tate & Lyle are in thousand GBP and for Cranswick are in thousand USD collected from annual report (CRANSWICK, 2013 & Tate & Lyle, 2013)
Table 3: The horizontal trends for Tate & Lyle PLC and competitor: Position Statement
2010 2011 2012 2013
Tate & Lyle PLC Total Non Current Assets -14 -20 13 -12
Stock -24 11 -1 13
Debtors -41 -26 6 16
Cash and Securities 3 21 -36 -8
Total Current Assets -22 5 -17 6
Total Assets -18 -7 -5 -4
Current -38 -4 -20 -13
Non-Current -1 -21 -5 -1
Total Liability -18 -15 -11 -5
Equity -16 14 9 -2
Total Liabilities and Equity -18 -7 -5 -4
Cranswick plc Total Non Current Assets 0 74 -3 1Stock -13 72 13 8Debtors -30 67 14 -3Cash and Securities 64 73 33 57Total Current Assets -19 68 20 12Total Assets -8 72 5 5Current -34 58 4 1Non-Current -27 212 4 -3Total Liability -30 144 4 -2Equity 21 18 6 16Total Liabilities and Equity -8 72 5 5
Data for Tate & lyle are in thousand GBP and for Cranswick are in thousand USD collected from annual report (CRANSWICK, 2013 & Tate & Lyle, 2013)
2009 2010 2011 2012 2013 2009 2010 2011 2012 20130
5
10
15
20
25
Operating Margin % Profit Margin %ROE % ROCE %
2009 2010 2011 2012 2013 2009 2010 2011 2012 20130
2
4
6
8
10
12
14
Interest Cover x Quick Ratio r Current Ratio r
2009 2010 2011 2012 2013 2009 2010 2011 2012 2013
-150
-100
-50
0
50
100
150
200
250
300
350
Norm EPS Growth % CAPEX PS p
2010 2011 2012 2013
-40.0-30.0-20.0-10.00.0
10.020.030.040.050.0
-28.7
7.413.5
5.4
Tate & Lyle PLC Cranswick plc
2010 2011 2012 2013-200.0
0.0
200.0
400.0
600.0
800.0
1000.0
Tate & Lyle PLC Cranswick plc
2010 2011 2012 2013
-40
-20
0
20
40
60
80
Total Assets Total Assets
2010 2011 2012 2013
-40
-20
0
20
40
60
80
Tate & Lyle PLC Cranswick plc
PER (E)
Dividend Yield (E)
Price Earning Growth (E)
Return o
n Capital Emp
loyed
Opera
ting M
argin
EPS G
rowth (E)
EV/EB
ITDA
Net Gearing
Net Tangible Asset Value Per Share
Price to Tangible Book Value
Price/Cash
Flow
Price/Sa
les-50
0
50
100
150
200
Tate &Lyle Market Sector
Tate &LyleSecto
rMarke
tPER (E) 13.17 18.84 14.59Dividend Yield (E) 3.67 2.98 3.76Price Earning Growth (E) 3.8 3.7 1.04Return on Capital Employed 18.52 46.23 27.16Operating Margin 10.72 11.52 24.06EPS Growth (E) 3.46 5.15 8.99EV/EBITDA 9.21 7.43 19.15Net Gearing 49.71 37.24 30.73Net Tangible Asset Value Per Share 142.5 1.02 1.84Price to Tangible Book Value 5.47 -6.1 -0.53Price/Cash Flow 14.36 13.74 -39.02Price/Sales 1.11 1.51 2.81
Data for Tate & lyle are in thousand GBP and for Cranswick are in thousand USD collected from annual report (CRANSWICK, 2013 & Tate & Lyle, 2013)
2009 2010 2011201
2201
3Tate & Lyle PLC
Revenue3,55
3 2,5332,72
03,08
83,25
6Operating Profit (reported) 164 -44 303 404 336Pre-tax Profit 113 -116 245 379 309Profit After Tax 94 -21 196 307 260
Cranswick plc
Revenue3,94
4 3,6724,36
76,21
96,86
8Operating Profit 434 153 339 671 668Pre-tax Profit 405 115 275 593 601Profit After Tax 267 41 169 416 428
200
9201
0201
1201
2201
3Tate & Lyle PLC
Total Non Current Assets2,070
1,779
1,425
1,617
1,425
Stock 538 409 454 450 510Debtors 729 428 316 335 387Cash and Securities 634 654 789 504 465
Total Current Assets1,901
1,491
1,559
1,289
1,362
Total Assets3,999
3,288
3,051
2,906
2,787
Current1,417
878 841 676 590
Non-Current1,569
1,556
1,237
1,172
1,161
Total2,986
2,434
2,078
1,848
1,751
Equity1,013
854 973 1,058
1,036
Total Liabilities and Equity
3,999
3,288
3,051
2,906
2,787
Cranswick plc
Total Non Current Assets1,910
1,907
3,318
3,215
3,232
Stock 454 394 678 769 834Debtors 627 440 735 837 814Cash and Securities 107 175 302 401 628
Total Current Assets1,297
1,045
1,753
2,102
2,360
Total Assets3,207
2,952
5,071
5,317
5,592
Current 859 565 891 926 933
Non-Current 964 7062,204
2,287
2,222
Total1,823
1,271
3,095
3,213
3,155
Equity1,384
1,681
1,976
2,104
2,437
Total Liabilities and Equity
3,207
2,952
5,071
5,317
5,592
Income Statement Position Statement