苹果公司财务报表分析PPT

TheBestArtwork—AnnualReportAnalysisofAppleInc.Form10-KAForm10-KisanannualreportrequiredbytheU.S.SecuritiesandExchangeCommission(SEC),thatgivesacomprehensivesummaryofacompany'sperformance.The10-Kincludesinformationsuchascompanyhistory,organizationalstructure,executivecompensation,equity,subsidiaries,andauditedfinancialstatements,amongotherinformation.ThenameoftheForm10-KcomesfromtheCodeofFederalRegulations(CFR)designationoftheformpursuanttosections13and15(d)oftheSecuritiesExchangeActof1934asamended.Form10-KItem1-BusinessItem1A-RiskFactorsItem2-PropertiesItem3-LegalProceedingsItem4-MineSafetyDisclosuresItem5-MarketItem6-ConsolidatedFinancialDataItem7-Management'sDiscussionandAnalysisForwardLookingStatementsItem8-FinancialStatementsCore:innovationManagerStevenPaul"Steve"Jobs(February24,1955–October5,2011)wasanAmericanentrepreneurandinventor,bestknownastheco-founder,chairman,andCEOofAppleInc.TimothyDonald"Tim"Cook(bornNovember1,1960)isanAmericanbusinessexecutivewhoistheCEOofAppleInc.ManagerSirJonathanPaul"Jony"Ive,KBERDI(born27February1967)isanEnglishdesignerandtheSeniorVicePresidentofIndustrialDesignatAppleInc.ArthurD.Levinson(bornMarch31,1950)isthechairmanofGenentech(1999topresent)andthechairmanofAppleInc.(2011topresent).ManagerAsofSeptember29,2012,theCompanyhadapproximately72,800full-timeequivalentemployeesandanadditional3,300full-timeequivalenttemporaryemployeesandcontractors.Approximately42,400ofthetotalfull-timeequivalentemployeesworkedintheCompany’sRetailsegment.ProductProductStrategyTheCompanyiscommittedtobringingthebestuserexperiencetoitscustomersthroughitsinnovativehardware,software,peripherals,andservices.TheCompany’sbusinessstrategyleveragesitsuniqueabilitytodesignanddevelopitsownoperatingsystems,hardware,applicationsoftware,andservicestoprovideitscustomersnewproductsandsolutionswithsuperiorease-of-use,seamlessintegration,andinnovativedesign.TheCompanybelievescontinualinvestmentinresearchanddevelopment,marketingandadvertisingiscriticaltothedevelopmentandsaleofinnovativeproductsandtechnologies.Aspartofitsstrategy,theCompanycontinuestoexpanditsplatformforthediscoveryanddeliveryofthird-partydigitalcontentandapplicationsthroughtheiTunesStore.AspartoftheiTunesStore,theCompany’sAppStoreandiBookstoreallowcustomerstodiscoveranddownloadapplicationsandbooksthrougheitheraMacorWindows-basedcomputerorthrough“iOSdevices,”namelyiPhone,iPadandiPodtouch®.CompetitionThemarketsfortheCompany’sproductsandservicesarehighlycompetitiveandtheCompanyisconfrontedbyaggressivecompetitioninallareasofitsbusiness.TheCompany’scompetitorswhosellmobiledevicesandpersonalcomputersbasedonotheroperatingsystemshaveaggressivelycutpricesandloweredtheirproductmarginstogainormaintainmarketshare.TheCompanyisfocusedonexpandingitsmarketopportunitiesrelatedtopersonalcomputersandmobilecommunicationandmediadevices.Thesemarketsarehighlycompetitiveandincludeseverallarge,well-fundedandexperiencedparticipants.TheCompany’sfuturefinancialconditionandoperatingresultsdependontheCompany’sabilitytocontinuetodevelopandoffernewinnovativeproductsandservicesineachofthemarketsinwhichitcompetes.TheCompanybelievesitofferssuperiorinnovationandintegrationoftheentiresolutionincludingthehardware,software,onlineservices,anddistributionofdigitalcontentandapplications.CompetitionCompetitionCompetitionCompetitionCompetitionRisk GlobaleconomicconditionscouldmateriallyadverselyaffecttheCompany. Toremaincompetitiveandstimulatecustomerdemand,theCompanymustsuccessfullymanagefrequentproductintroductionsandtransitions. TheCompanydependsoncomponentandproductmanufacturingandlogisticalservicesprovidedbyoutsourcingpartners,manyofwhomarelocatedoutsideoftheU.S. TheCompanyreliesonthird-partyintellectualpropertyanddigitalcontent,whichmaynotbeavailabletotheCompanyoncommerciallyreasonabletermsoratall. TheCompany’sfutureperformancedependsinpartonsupportfromthird-partysoftwaredevelopers. TheCompany’sRetailsegmenthasrequiredandwillcontinuetorequireasubstantialinvestmentandcommitmentofresourcesandissubjecttonumerousrisksanduncertainties. InvestmentinnewbusinessstrategiesandacquisitionscoulddisrupttheCompany’songoingbusinessandpresentrisksnotoriginallycontemplated.Risk TheCompany’sproductsandservicesmayexperiencequalityproblemsfromtimetotimethatcanresultindecreasedsalesandoperatingmargin. TheCompanyissubjecttolawsandregulationsworldwide,changestowhichcouldincreasetheCompany’scostsandindividuallyorintheaggregateadverselyaffecttheCompany’sbusiness. TheCompany’sbusinessandreputationmaybeimpactedbyinformationtechnologysystemfailuresornetworkdisruptions. TheCompany’sstockpriceissubjecttovolatility.LegalProceedings TheAppleiPodiTunesAntitrustLitigation AppleeBooksAntitrustLitigation InreApple&ATTMAntitrustLitigationSubstantiallyalloftheCompany’shardwareproductsaremanufacturedbyoutsourcingpartnersthatarelocatedprimarilyinAsia.Holders AsofOctober19,2012,therewere27,696shareholdersofrecord. Duringthefourthquarterof2012,theCompanypaidaquarterlydividendof$2.65pershareandexpectstopayquarterlydividendsinthefutureHolders AsofOctober19,2012,therewere27,696shareholdersofrecord. Duringthefourthquarterof2012,theCompanypaidaquarterlydividendof$2.65pershareandexpectstopayquarterlydividendsinthefutureHoldersHoldersFinancialDataFinancialDataFinancialDataFinancialDataCONSOLIDATEDSTATEMENTSOFSHAREHOLDERS’EQUITY(Inmillions,exceptnumberofshareswhicharereflectedinthousands)FinancialData3047FinancialData3147FinancialDataFinancialDataFinancialDataFinancialDataFinancialDataFiscalYear2012versus201131Long-LivedAssetsIncludingGoodwillandOtherAcquiredIntangibleAssets53FinancialInstruments55FinancialDataLiquidityRatios CurrentRatio=57,653,000/38,542,000=1.78 QuickRatio=57,653,000-791,000/38,542,000=1.47 CashRatio=10,746,000/38,542,000=0.28DebtManagementRatios DebtRatio=57,854,000/176,064,000=0.33 EquityMultiplier=176,064,000/118,210,000=1.49 Long-termDebtRatio=0 /176,064,000=0FinancialDataAssetManagementRatio AccountReceivableTurnoverRatio=41,733/17,503=2.38 InventoryTurnoverRatio=156,508/7,910=19.79ProfitabilityRatios RateOfMargin=55,763/156,508=35.6%TheEnd