Oswald Cobblepot's Impossibilities

MKM704 2011 2012

Market Dynamics
Households 10,440 10,492
Number of Households Purchasing 4,280 4,480
Market Size - # Cases (Standard Units) 29,321 29,031
Market Size - Dollars $326,047 $332,991
Oswald's Impossibilites - # Cases (Standard Units) 3,445 3,417

Income Statement
Sales $33,416 $34,143

Direct Product Costs $12,919 $13,566

Broker Commissions $1,460 $1,482
Packaging $2,308 $2,289

Cost of Goods Sold $16,688 $17,337

Gross Margin $16,728 $16,806

Fixed Expenses
Marketing $6,525 $7,382
Selling, General & Admin Expenses $3,061 $2,901
Depreciation $3,037 $3,249
Total Fixed Expenses $12,622 $13,532

Operating Income (EBIT) $4,106 $3,274

Interest Expense $513 $536

Net Income Before Tax $3,593 $2,739

Income Taxes $1,257 $959

Net Income $2,335 $1,780

 Oswald's Impossibilities
2011 2012

Balance Sheet
Cash $4,229 $3,177
Accounts Receivable $3,356 $3,858
Inventory $3,082 $3,398
Fixed Assets $35,494 $38,528
Accumulated Depreciation -$11,202 -$14,451
Net Fixed Assets $24,292 $24,077
Total Assets $34,959 $34,510

Accounts Payable $2,538 $2,148

Deferred Revenue $1,727 $1,805
Accrued Expenses $1,264 $1,171
Long Term Debt $11,882 $12,556
Total Liabilities $17,410 $17,680

Common Stock $10,506 $10,506

Retained Earnings $7,042 $6,324
Total Shareholder's Equity $17,548 $16,830

Total Liabilities and Shareholders' Equity $34,959 $34,510

Note:
Capital Expenditures $2,113 $3,034
Number of Shares (in thousands) 1,196.6 1,196.6
Dividend Per Share $1.83 $2.09
Share Price $42.88 $38.99

Oswald's Impossibilities - Business & Financial Statement An

Market Dynamics Analysis

Household Growth Rate 4.67%
Household Penetration 41.00% 42.70%
Units Per Household 6.85 6.48

Market Growth Rate (Sales dollars) 2.13%

Market Growth Rate (units Sold) -0.99%
Oswald's Impossibilities - Growth Rate (Sales dollars) 2.18%
Oswald's Impossibilities - Growth Rate (units sold) -0.82%

Oswald's Impossibilities - Dollar Market Share 10.25% 10.25%

Oswald's Impossibilities - Unit Market Share 11.75% 11.77%

Market - Average Price Per Case $1.14 $1.18

Oswald's Impossibilities - Average Price Per Case $9.70 $9.99

Profitability Sustainability Ratios

Gross Margin % of Sales 50.06% 49.22%

Operating Expense % of Sales 49.94% 50.78%

Operating Profit (EBIT) $16,728.01 $16,806.09

Operating Profit (EBIT) % 50.060% 49.223%

EBITDA $ $7,142 $6,523

EBITDA % 21.37% 19.10%
EBITDA per Unit $2.07 $1.91

Net Profit (Net Income) % 6.99% 5.21%

Return On Assets % 6.68% 5.16%

Return on Equity % 13.31% 10.58%

Operational Efficiency Ratios

Inventory Turnover 5.10
Days in Inventory 71.5

Average Receivables Collection Period

(assume all sales are on credit) 41.2
Accounts Receivable Turnover 8.85

Accounts Payable Turnover 8.07

Accounts Payable Days Outstanding 45.22

Fixed Asset Turnover 1.42

Asset Turnover 0.99

Free Cash Flow $2,359.39

Liquidity Ratios
Current Assets $10,666.57 $10,433.00
Current Liabilities $5,528.85 $5,124.30
Working Capital $5,137.72 $5,308.70

Current Ratio 1.93 2.04

Quick Asset Ratio 1.37 1.37
Cash Ratio 0.76 0.62

Leverage Ratios
Debt Ratio 0.50 0.51
Debt to Equity Ratio 0.34 0.36

Interest Coverage (EBIT/Interest) 32.59 31.38

Interest Coverage (EBITDA/Interest) 13.91 12.18

Valuation Ratios
Earnings per Share $1.95 $1.49
Price Earnings Ratio 21.97 26.21

Dividend $ $2,186.18 $2,498.49

Dividend Payout Ratio 93.62% 140.36%
Dividend Yield (Per Share) 4.26% 5.36%

Book Value / Share $14.67 $14.06

Share Price / Book Value Ratio 2.92 2.77
ibilities 1 Common Size: % of Sales, % of Total As
2013 2014 2015 2011 2012 2013

10,555 10,587 10,608

4,591 4,753 4,848
30,166 30,090 30,105
$345,100 $357,163 $366,380
3,478 3,424 3,414

% of Sales Analysis

$37,547 $39,227 $40,537

$15,408 $16,710 $17,377 38.66% 39.73% 41.04%

$1,878 $1,934 $2,012 4.37% 4.34% 5.00%
$2,261 $2,328 $2,356 6.91% 6.71% 6.02%

$19,547 $20,972 $21,745 49.94% 50.78% 52.06%

$18,000 $18,255 $18,792 50.06% 49.22% 47.94%

$8,424 $4,647 $6,876 19.53% 21.62% 22.44%

$2,962 $3,014 $3,085 9.16% 8.50% 7.89%
$3,775 $4,543 $4,975 9.09% 9.51% 10.06%
$15,161 $12,205 $14,937 37.77% 39.63% 40.38%

$2,838 $6,050 $3,856 12.29% 9.59% 7.56%

$561 $656 $708 1.54% 1.57% 1.49%

$2,277 $5,394 $3,148 10.75% 8.02% 6.06%

$751 $1,780 $1,039 3.76% 2.81% 2.00%

$1,525 $3,614 $2,109 6.99% 5.21% 4.06%

es
2013 2014 2015

% of Assets Analysis
$2,108 $1,455 $2,699 12.10% 9.21% 5.64%
$4,227 $4,385 $4,988 9.60% 11.18% 11.32%
$4,265 $4,690 $4,954 8.81% 9.85% 11.42%
$44,983 $51,288 $56,482 101.53% 111.64% 120.41%
-$18,226 -$22,769 -$27,745 -32.04% -41.87% -48.79%
$26,757 $28,519 $28,737 69.49% 69.77% 71.63%
$37,357 $39,049 $41,378 100.00% 100.00% 100.00%

$2,607 $2,798 $2,781 7.26% 6.22% 6.98%

$2,303 $2,747 $3,035 4.94% 5.23% 6.16%
$1,322 $1,362 $1,303 3.62% 3.39% 3.54%
$13,963 $14,818 $16,778 33.99% 36.38% 37.38%
$20,195 $21,725 $23,897 49.80% 51.23% 54.06%

$12,226 $12,226 $14,426 30.05% 30.44% 32.73%

$4,936 $5,098 $3,054 20.14% 18.32% 13.21%
$17,162 $17,324 $17,480 50.20% 48.77% 45.94%

$37,357 $39,049 $41,378 100.00% 100.00% 100.00%

$6,455 $6,305 $5,194

1,240.1 1,240.1 1,290.1
$2.35 $2.78 $3.22
$27.66 $43.10 $49.90

cial Statement Analysis

2.48% 3.53% 1.99%

 43.50% 44.90% 45.70%
6.57 6.33 6.21

3.64% 3.50% 2.58%

3.91% -0.25% 0.05%
9.97% 4.47% 3.34%
1.79% -1.55% -0.30%

10.88% 10.98% 11.06%

11.53% 11.38% 11.34%

$1.24 $1.30 $1.35

$10.80 $11.46 $11.87

47.94% 46.54% 46.36%

52.06% 53.46% 53.64%

$17,999.53 $18,254.95 $18,792.49

47.939% 46.537% 46.359%

$6,613 $10,594 $8,831

17.61% 27.01% 21.79%
$1.90 $3.09 $2.59

4.06% 9.21% 5.20%

4.08% 9.26% 5.10%

8.89% 20.86% 12.07%

4.58 4.47 4.39

79.6 81.6 83.2

41.1 40.8 44.9

 8.88 8.95 8.13

7.50 7.50 7.82

48.67 48.70 46.69

1.40 1.38 1.41

1.01 1.00 0.98

$347.58 $3,253.72 $699.71

$10,600.00 $10,530.00 $12,641.00

$6,231.81 $6,906.93 $7,119.21
$4,368.19 $3,623.07 $5,521.79

1.70 1.52 1.78

1.02 0.85 1.08
0.34 0.21 0.38

0.54 0.56 0.58

0.37 0.38 0.41

32.07 27.82 26.56

11.78 16.14 12.48

$1.23 $2.91 $1.64

22.49 14.79 30.52

$2,912.99 $3,452.43 $4,152.83

190.96% 95.53% 196.87%
8.49% 6.46% 6.45%

$13.84 $13.97 $13.55

2.00 3.09 3.68
f Sales, % of Total Assets Per Unit Analysis
2014 2015 2011 2012 2013 2014 2015
$ $ $ $ $

ales Analysis

$9.70 $9.99 $10.80 $11.46 $11.87

42.60% 42.87% $3.75 $3.97 $4.43 $4.88 $5.09

4.93% 4.96% $0.42 $0.43 $0.54 $0.56 $0.59
5.94% 5.81% $0.67 $0.67 $0.65 $0.68 $0.69

53.46% 53.64% $4.84 $5.07 $5.62 $6.12 $6.37

46.54% 46.36% $4.86 $4.92 $5.18 $5.33 $5.50

11.85% 16.96% $1.89 $2.16 $2.42 $1.36 $2.01

7.68% 7.61% $0.89 $0.85 $0.85 $0.88 $0.90
11.58% 12.27% $0.88 $0.95 $1.09 $1.33 $1.46
31.11% 36.85% $3.66 $3.96 $4.36 $3.56 $4.38

15.42% 9.51% $1.19 $0.96 $0.82 $1.77 $1.13

1.67% 1.75% $0.15 $0.16 $0.16 $0.19 $0.21

13.75% 7.77% $1.04 $0.80 $0.65 $1.58 $0.92

4.54% 2.56% $0.36 $0.28 $0.22 $0.52 $0.30

9.21% 5.20% $0.68 $0.52 $0.44 $1.06 $0.62

ssets Analysis
3.73% 6.52%
11.23% 12.05%
12.01% 11.97%
131.34% 136.50%
-58.31% -67.05%
73.03% 69.45%
100.00% 100.00%

7.17% 6.72%
7.04% 7.33%
3.49% 3.15%
37.95% 40.55%
55.64% 57.75%

31.31% 34.86%
13.05% 7.38%
44.37% 42.25%

100.00% 100.00%