INCOME STATEMENT All numbers in millions

year ending 12/31/2020 year ending 12/31/2019

Total Revenue 182,527 151,857
Cost of Revenue 84,732 71,896
Gross Profit 97,795 89,961
Research and Development 27,573 26,018
Sales and Marketing 17,946 18,464
General and Administrative 11,052 9,551
European Commission Fines 0 1,697
Income from Operations 41,224 34,231
Other Income or Expenses 6,858 5,394
Pretax Income 48,082 39,625
Tax Provision 7,813 5,282
Net Income 40,296 34,343

BALANCE SHEET All numbers in millions

12/31/2020 12/31/2019
Cash and Cash Equivalents 26,465 18,498
Short Term Investments 110,229 101,177
Net Receivables 31,384 27,492
Inventory 728 999
Other Current Assets 5,490 4,412
Total Current Assets 174,296 152,578
Property, Plant and Equipment, net 84,749 73,646
Goodwill 21,175 20,624
Other Assets 39,396 29,061
Total Assets 319,616 275,909
Accounts Payable 5,589 5,561
Other Current Liabilities 51,245 39,660
Total Current Liabilities 56,834 45,221
Long Term Debt 13,932 4,554
Other Liabilities 26,306 24,692
Total Liabilities 97,072 74,467
Common Stock 58,510 50,552
Retained Earnings 163,401 152,122
Other Stockholder Equity 633 -1,232
Total Stockholder Equity 222,544 201,442
Total Liabilities & Stockholder Equity 319,616 275,909

FINANCIAL STATEMENT ANALYSIS:

A.) LIQUIDITY RATIOS:
1.) Current Ratio = Total Current Asset/Total Current Liabilities
2020 2019
Total Current Asset 174,296 152,578
Total Current Liability 56,834 45,221
Current Ratio 3.06675581518105 3.374051878552

2.) Quick Ratio = Quick Assets/Total Current Liabilities

Cash and Cash Equivalents 26,465 18,498
Short-Term Investments 110,229 101,177
Net Receivables 31,384 27,492
Total Quick Assets 168,078 147,167
Total Current Liabilities 56,834 45,221
Quick Ratio 2.95734947390646 3.25439508193096

3.)Accounts Receivable Turnover = Net Credit Sales/Average Accounts Receivable

Net Credit Sales (Total Revenue) 182,527 151,857
Divided by: Average Accounts Rec.
Accounts Receivable Beginning 27,492 21,193
Accounts Receivable End 31,384 27,492
Total 58,876 48,685
Divided by 2 2
Average Accounts Receivable 29,438 24,342.50

Accounts Receivable Turnover 6.20 6.24

4.) Average Days to Collect Receivables = Number of Days in a Year/Receivables Turnover Ratio
Number of Days 360 360
Receivables Turnover 6.20 6.24
58.06 57.71

Average Days to Collect Receivables 58 Days 58 Days

5.) Inventory Turnover = Cost of Sales/Average Inventory

Cost of Sales 84,732 71,896
Divided by: Average Inventory
Inventory Beginning 999 1,107
Inventory End 728 999
Total 1,727 2,106
Divided by 2 2
Average Inventory 863.50 1,053

Inventory Turnover 98.13 68.28

6.) Average Days to Sell Inventory = Number of Days in a Year/Inventory Turnover

Number of Days in a Year 360 360
Inventory Turnover 98.13 68
3.67 5.27
Average Days to Sell Inventory 4 Days 5 Days

B. SOLVENCY RATIOS:
1.) Debt to Assets Ratio = Total Liabilites/Total Assets
Total Liabilities 97,072 74,467
Total Assets 319,616 275,909
Debt to Assets Ratio 0.303714457348819 0.269896958779888

2.) Debt to Equity Ratio = Total Liabilities/Total Shareholders' Equity

Total Liabilities 97,072 74,467
Total Shareholders' Equity 222,544 201,442
Debt to Equity Ratio 0.436192393414336 0.369669681595695

C. PROFITABILITY RATIOS:
1.) Net Margin = Net Income/Net Sales
Net Income 40,296 34,343
Net Sales 182,527 151,857
Net Margin 0.220767338530738 0.226153552355176

2.) Return on Investment = Net Income/Average Total Assets

Net Income 40,296 34,343
Divided by: Average Total Assets
Total Assets Beginning 275,909 232,792
Total Assets End 319,616 275,909
Total 595,525 508,701
Divided by 2 2
Average Total Assets 297762.50 254350.50

Return on Investment 0.135329331262332 0.135022341218122

3.) Return on Equity = Net Income/Total Shareholders' Equity

Net Income 40,296 34,343
Shareholders' Equity 222,544 201,442
Return on Equity 0.181069810913797 0.170485797400741

D. STOCK MARKET RATIOS

1.) Price-Earnings Ratio = Market Price/Earnings per Share
Market Price (Total Revenue/Common Share)
Total Revenue 182,527 151,857
Common Share 58,510 50,552
Market Price (Total Revenue/Common S 3.11958639548795 3.00397610381389
Earnings per Share (Net Income/Common shares
Net Income 40,296 34,343
Common Shares 58,510 50,552
Earnings per Share 0.688702785848573 0.679359867067574

Price-Earnings Ratio
Market Price per Share 3.11958639548795 3.00397610381389
Divided by: Earnings per Share 0.688702785848573 0.679359867067574
Price-Earnings Ratio 4.52965554893786 4.42177445185336

VERTICAL ANALYSIS:
INCOME STATEMENT
2020 PERCENTAGE
Total Revenue 182,527 100%
Cost of Revenue 84,732 46%
Gross Profit 97,795 54%
Research and Development 27,573 15%
Sales and Marketing 17,946 10%
General and Administrative 11,052 6%
European Commission Fines 0
Income from Operations 41,224 23%
Other Income or Expenses 6,858 4%
Pretax Income 48,082 26%
Tax Provision 7,813 4%
Net Income 40,296 22%

2019 PERCENTAGE
Total Revenue 151,857 100%
Cost of Revenue 71,896 47%
Gross Profit 89,961 59%
Research and Development 26,018 17%
Sales and Marketing 18,464 12%
General and Administrative 9,551 6%
European Commission Fines 1,697 1%
Income from Operations 34,231 23%
Other Income or Expenses 5,394 4%
Pretax Income 39,625 26%
Tax Provision 5,282 3%
Net Income 34,343 23%

BALANCE SHEET: All numbers in millions

2020 PERCENTAGE
Cash and Cash Equivalents 26,465 8%
Short Term Investments 110,229 34%
Net Receivables 31,384 10%
Inventory 728 0.23%
Other Current Assets 5,490 2%
Total Current Assets 174,296 55%
Property, Plant and Equipment, net 84,749 27%
Goodwill 21,175 7%
Other Assets 39,396 12%
Total Assets 319,616 100%

Accounts Payable 5,589 2%

Other Current Liabilities 51,245 16%
Total Current Liabilities 56,834 18%
Long Term Debt 13,932 4%
Other Liabilities 26,306 8%
Total Liabilities 97,072 30%
Common Stock 58,510 18%
Retained Earnings 163,401 51%
Other Stockholder Equity 633 0.20%
Total Stockholder Equity 222,544 70%
Total Liabilities & Stockholder Equity 319,616 100%

2019
Cash and Cash Equivalents 18,498 7%
Short Term Investments 101,177 37%
Net Receivables 27,492 10%
Inventory 999 0.36%
Other Current Assets 4,412 2%
Total Current Assets 152,578 55%
Property, Plant and Equipment, net 73,646 27%
Goodwill 20,624 7%
Other Assets 29,061 11%
Total Assets 275,909 100%

Accounts Payable 5,561 2%

Other Current Liabilities 39,660 14%
Total Current Liabilities 45,221 16%
Long Term Debt 4,554 2%
Other Liabilities 24,692 9%
Total Liabilities 74,467 27%
Common Stock 50,552 18%
Retained Earnings 152,122 55%
Other Stockholder Equity -1,232 -0.45%
Total Stockholder Equity 201,442 73%
Total Liabilities & Stockholder Equity 275,909 100%
HORIZONTAL ANALYSIS:
PERCENTAGE CHANGE = (MOST RECENT VALUE - BASE PERIOD VALUE)/BASE PERIOD VALUE
INCOME STATEMENT All numbers in millions
year ending 12/31/2020 year ending 12/31/2019
Total Revenue 182,527 151,857
Cost of Revenue 84,732 71,896
Gross Profit 97,795 89,961
Research and Development 27,573 26,018
Sales and Marketing 17,946 18,464
General and Administrative 11,052 9,551
European Commission Fines 0 1,697
Income from Operations 41,224 34,231
Other Income or Expenses 6,858 5,394
Pretax Income 48,082 39,625
Tax Provision 7,813 5,282
Net Income 40,296 34,343

BALANCE SHEET All numbers in millions

12/31/2020 12/31/2019
Cash and Cash Equivalents 26,465 18,498
Short Term Investments 110,229 101,177
Net Receivables 31,384 27,492
Inventory 728 999
Other Current Assets 5,490 4,412
Total Current Assets 174,296 152,578
Property, Plant and Equipment, net 84,749 73,646
Goodwill 21,175 20,624
Other Assets 39,396 29,061
Total Assets 319,616 275,909
Accounts Payable 5,589 5,561
Other Current Liabilities 51,245 39,660
Total Current Liabilities 56,834 45,221
Long Term Debt 13,932 4,554
Other Liabilities 26,306 24,692
Total Liabilities 97,072 74,467
Common Stock 58,510 50,552
Retained Earnings 163,401 152,122
Other Stockholder Equity 633 -1,232
Total Stockholder Equity 222,544 201,442
Total Liabilities & Stockholder Equity 319,616 275,909
12/31/18
16,701
92,439
21,193
1,107
4,236
135,676
59,719
17,888
19,509
232,792
4,378
30,242
34,620
4,012
16,532
55,164
45,049
134,885
-2,306
177,628
232,792

2018
135,676
 34,620
3.91900635470826

16,701
92,439
21,193
130,333
34,620
3.76467359907568
 55,164
232,792
0.236966906079247

55,164
177,628
0.310559146080573
 INCOME STATEMENT
2020 2019 DIFFERENCE
SOLUTION PERCENTAGE PERCENTAGE
182,527/182,527 100% 100% 0%
B146/182,527 46% 47% -1%
B147/182,527 54% 59% -5%
B148/182,527 15% 17% -2%
B149/182,527 10% 12% -2%
B150/182,527 6% 6% 0%
1% -1%
B152/182,527 23% 23% 0%
B153/182,527 4% 4% 0%
B154/182,527 26% 26% 0%
B155/182,527 4% 3% 1%
B156/182,527 22% 23% -1%

SOLUTION
151,857/151,857
B160/151857
B161/151857
B162/151857
B163/151857
B164/151857
B165/151857
B166/151857
B167/151857
B168/151857
B169/151857
B170/151857

BALANCE SHEET
SOLUTION 2020 2019 DIFFERENCE
B175/319,616 PERCENTAGE PERCENTAGE
B176/319,616 8% 7% -1%
 B177/319,616 34% 37% -3%
B178/319,616 10% 10% 0%
B179/319,616 0.23% 0.36% -0.13%
B180/319,616 2% 2% 0%
B181/319,616 55% 55% 0%
B182/319,616 27% 27% 0%
B183/319,616 7% 7% 0%
319,616/319,616 12% 11% 1%
100% 100% 0%
B186/319,616
B187/319,616 2% 2% 0%
B188/319,616 16% 14% 2%
B189/319,616 18% 16% 2%
B190/319,616 4% 2% 2%
B191/319,616 8% 9% -1%
B192/319,616 30% 27% 3%
B193/319,616 18% 18% 0%
B194/319,616 51% 55% -4%
B195/319,616 0.20% -0.45% 0.65%
319,616/319,616 70% 73% -3%
100% 100% 0%

B199/275,909
B200/275,909
B201/275,909
B202/275,909
B203/275,909
B204/275,909
B205/275,909
B206/275,909
B207/275,909
275,909/275,909

B210/275,909
B211/275,909
B212/275,909
B213/275,909
B214/275,909
B215/275,909
B216/275,909
B217/275,909
B218/275,909
B219/275,909
275,909/275,909
Increase (Decrease) Percent
30,670 20%
12,836 18%
7,834 9%
1,555 6%
-518 -3%
1,501 16%
-1,697 -100%
6,993 20%
1,464 27%
8,457 21%
2,531 48%
5,953 17%

Increase(Decrease) Percentage
7,967 43%
9,052 9%
3,892 14%
-271 -27%
1,078 24%
21,718 14%
11,103 15%
551 3%
10,335 36%
43,707 16%
28 1%
11,585 29%
11,613 26%
9,378 206%
1,614 7%
22,605 30%
7,958 16%
11,279 7%
1,865 -151%
21,102 10%
43,707 16%