20074076

Park dongwook

BusinessCom 2.0/Winter09/COMPANY FINANCIAL MATRIX

COMPANY: Dell
INCOME STATEMENT 2009 2008 2007
Revenue ($mil.) 61,101.0 61,133.0 57,420.0
Gross Profit ($mil.) 10,957.0 11,671.0 9,516.0
Operating Income ($mil.) 3,417.0 3,872.0 3,390.0
Total Net Income ($mil.) 2,478.0 2,947.0 2,583.0
EPS 1.25 1.31 1.14
STRENGTHS:
The growth in 2008 has been plunged, due to the global economy downturn. However, the net
profit of the industry has been increased by 15% and 9% for EPS. This shows that the stock price
and market is growing, and business performances are satisfactory.

WEAKNESSES
Although the net income has been decreased by -4%, which is disappointing, however, it is a
relatively minor issue, considering the global financial crisis in 2008.

CASH FLOW STATEMENT Jan 09 Jan 08 Jan 07

Net Operating Cash Flow ($mil.) 1,894.0 3,949.0 3,969.0
Net Investing Cash Flow ($mil.) 177.0 (1,763.0) 1,003.0
Net Financing Cash Flow ($mil.) (1,406.0) (4,120.0) (2,551.0)
STRENGTHS:
The loss of ICF and FCF in the period of January 08 to January 09 has been significantly
decreased. This is of course lower, compare to 07, but this is an absolute growth.

WEAKNESSES
Overall, it has been bear market about 50%, however, this is an inevitable result, considering
global financial crisis.
BusinessCom 2.0/Winter09/COMPANY FINANCIAL MATRIX (Page 2/3)

COMPANY: DHL
INCOME STATEMENT 2008 2007 2006
Revenue ($mil.) 76,781.1 93,483.3 79,877.0
Gross Profit ($mil.) 31,706.7 39,207.0 34,820.3
Operating Income ($mil.) 2,377.8 4,695.4 --
Total Net Income ($mil.) 2,789.4 2,774.5 2,527.8
EPS 1.97 1.69 --
STRENGTHS:
From the chart, net profit and EPS have shown a significant increase, however, our research
shows that Fedex, our competitor, has shown the -95% in net profit and -10% in EPS.
Furthermore, many other relevant elements have proven that DHL had performed beyond Fedex.

WEAKNESSES
Although the net profit for 2006 has not been shown in the figure, it is predictable from the
other figure. It has been shown about -50% of loss, comparing with 07 and 08 profit figures,
however, it would have been much lower figure, if 06 figure was also used, which is predictable.

CASH FLOW STATEMENT Dec 08 Dec 07 Dec 06

Net Operating Cash Flow ($mil.) 2,733.0 7,581.8 4,253.4
Net Investing Cash Flow ($mil.) 621.6 (1,108.3) (3,558.2)
Net Financing Cash Flow ($mil.) 2,069.1 (3,071.9) (622.7)
STRENGTHS:
The marginal increase for FCF and ICF is much greater. The increase in FCF can prove the fact
that share market and bank loans are expanded. It can be derived from the fact that the size of
the bank loans is also considered in corporate growth prediction model.

WEAKNESSES
The cash flow has been decreased, due to the profit from the performance. This is because
depreciation/amortization, tax, inventory, and account payables are weakened.
BusinessCom 2.0/Winter09/COMPANY FINANCIAL MATRIX (page 3/3)

COMPANY: Lockheed Martin

INCOME STATEMENT 2008 2007 2006
Revenue ($mil.) 42,731.0 41,862.0 39,620.0
Gross Profit ($mil.) 4,649.0 4,234.0 3,434.0
Operating Income ($mil.) 5,043.0 4,720.0 3,953.0
Total Net Income ($mil.) 3,217.0 3,033.0 2,529.0
EPS 7.86 7.10 5.80
STRENGTHS:
It has shown an outstanding performance, such as 80% growth in Sales revenue, 35% increase
for gross profit and EPS. The competition with Boeing had been very strong and successful, and
this would have led that the Weaponry division would have achieved a significant growth.
Currently, the company is manufacturing the world strongest Jet Fighter, F-22, and all the other
global conflicts have led increased budget for multi-purpose weaponry, which is one of the strong
external growth element. The constant growth in the figures would prove that.

WEAKNESSES
From the figures, there are no presences of any weakness for this company. However, it could be
out of control, if the highly growing company would turn down, the only necessary risk
management for this matter should be considered.

CASH FLOW STATEMENT Dec 08 Dec 07 Dec 06

Net Operating Cash Flow ($mil.) 4,421.0 4,241.0 3,783.0
Net Investing Cash Flow ($mil.) (907.0) (1,205.0) (1,655.0)
Net Financing Cash Flow ($mil.) (3,938.0) (2,300.0) (2,460.0)
STRENGTHS:
Both OCF and ICF show the growth, especially 50% increase in ICF, which is due to the increase
in investment. This is mainly due to the increased cash inflow by increased investment.

WEAKNESSES
FCF, Free Cash Flow from the financial activity, is the only cash flow that shows negative
increase. Our research could not see beyond this level, however, our assumptions for this issue
are FCF might have affected by managerial decisions, such as paying the loan to reduce interest
costs and increased cash dividend payment/share buyback to increase the value of the shares.