Front Sheet

US Healthcare 2022 Financial Ratio Analysis

###

Tab Check LINK TO FRONT SHEET

OK OK File: 1 error
Err Alert

1 Disclaimer

Whilst every effort has been made to ensure the accuracy of the contents and calculations contained in this Model, Users of the Model should be aware that it is generally not practicable to test a computer spreadsheet to the extent
whereby it can be assured that all errors have been detected.

Users of the model should be aware that the Model is subject to a number of restrictions and limitations which amongst others include the following. It is always recommended to seek professional advice before making any decisions on
information derived from this model.
- The projection outputs of the Model are based on user-defined input assumptions. It is the responsibility of the Users of the Model to check the reasonableness and accuracy of these assumption;
- The Model has inbuilt controls and checks to flag any key irregularities across inputs, calculations and outputs but does not correct any errors or warnings identified;
- The Model does not provide a comprehensive list of all possible income, expenses, gains, losses, assets, liabilities and equity components that may arise in a business context. It is the responsibility of the User to identify and factor in any
other components not included in the Model;
- The model does not take into consideration any specific Generally Accepted Accounting Principles (‘GAAP’) adjustments applicable to the particular industry in which the business operates
- The presentation of projected financial statements do not take into consideration any specific GAAP presentation requirements

For the avoidance of doubt, the developers of this Model shall not be liable for losses, damages, costs or expenses arising from or in any way connected with your use of the Model.

To use this model, you must agree to these terms.

2 Instructions

2.1 The only tabs that should be populated by the user are the input tabs. The calculation tab uses the user-defined inputs to produce the projection outputs which are presented in the output tabs.

2.2 The user should start off my populating the 'i_Setup' tab followed by the 'i_Financials' tabs.

2.3 The input cells in the input sheets that are required to be populated are formatted as follows:

2.4 The following signage conventions apply throughout the model. Most Input cells contain data validations to help users populate assumption in line with the below conventions
· Revenues (+) and expenses (-)
· Assets (+), Liabilities (-) and Equity (-)
· Cash Inflows (+) and cash outflows (-)

2.5 The projection model contains error checks and warnings throughout the tabs. The workbook and tab checks status are displayed at the top left hand corner of each tab and summarised in the 'sysChecks' tab.
The status bar is set out as follows:

All file checks & alerts OK - No errors or alerts

File: 1 alert - Alert in input cells present
File: 1 error - Errors in input cells present

3 Contents

Inputs Calculations Outputs System

i_Setup o_Dashboard
sysCheck
General inputs for Summarised financial
Holds the master
timeline, currency, ratio outputs and charts
check and warnings
company details and lists
measurement units

i_Financials

Input tab for key

company financials on
which financial ratio
calculations are based

END OF WORKSHEET

857731302.xlsx Page 1 of 5 Printed on: 03/02/2025 09:40:50

 sysCheck

US Healthcare 2022 Financial Ratio Analysis

###

Tab Check LINK TO FRONT SHEET

OK OK File: 1 error
Err Alert

1 Check Text

# of checks triggered 1 error

# of alerts triggered 0 alert

Wording for triggered check 1 error

Wording for triggered alert
Concatenated wording for check/alert File: 1 error

Check/Alert Wording File: 1 error

2 Model checks

2.1 Master check

Model error Model alert

Model Error Check 1 Err(s) OK

2.2 Individual error checks and alerts

B5 C5
System sheets
sysCheck OK OK
Front Sheet OK OK

Input sheets
i_Setup OK OK
i_Financials Err OK

Calculation sheets

Output sheets
o_Dashboard OK OK

END OF WORKSHEET

857731302.xlsx Page 2 of 5 Printed on: 03/02/2025 09:40:51

 i_Setup

US Healthcare 2022 Financial Ratio Analysis

###

Tab Check LINK TO FRONT SHEET

OK OK File: 1 error
Err Alert

1 Setup Inputs

1.1 General Inputs

1 Analysis Exercise Name Text US Healthcare 2022

2 Analysis Exercise Date Date 1-Jun-22

Year Month
3 Latest Financials List 2019 12

4 Currency List VND

5 Units List Thousands

6 Include Forecast Year List No

1.2 Comparative Companies

7 Company Names
Name
Company 1 (CP1) Text Johnson & Johnson
Company 2 (CP2) Text Merck & Company, Inc
Company 3 (CP3) Text Pfizer Inc
Company 4 (CP4) Text AbbVie Inc
Company 5 (CP5) Text Eli Lilly & Company

END OF WORKSHEET

857731302.xlsx Page 3 of 5 Printed on: 03/02/2025 09:40:51

 i_Financials
US Healthcare 2022 Financial Ratio Analysis CP1 - Johnson & Johnson CP2 - Merck & Company, Inc CP3 - Pfizer Inc CP4 - AbbVie Inc CP5 - Eli Lilly & Company
### Start date 1-Jan-16 1-Jan-17 1-Jan-18 1-Jan-19 1-Jan-16 1-Jan-17 1-Jan-18 1-Jan-19 1-Jan-16 1-Jan-17 1-Jan-18 1-Jan-19 1-Jan-16 1-Jan-17 1-Jan-18 1-Jan-19 1-Jan-16 1-Jan-17 1-Jan-18 1-Jan-19
End date 31-Dec-16 31-Dec-17 31-Dec-18 31-Dec-19 31-Dec-16 31-Dec-17 31-Dec-18 31-Dec-19 31-Dec-16 31-Dec-17 31-Dec-18 31-Dec-19 31-Dec-16 31-Dec-17 31-Dec-18 31-Dec-19 31-Dec-16 31-Dec-17 31-Dec-18 31-Dec-19
Tab Check LINK TO FRONT SHEET Timeline ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL ANNUAL
Err OK File: 1 error Year index 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4
Err Alert Status Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual

1 Financials Input

1.1 Income Statement

Income Statement

Revenue VND'k - 82,059,000 82,584,000 93,775,000 42,294,000 39,121,000 41,518,000 48,704,000 40,825,000 40,905,000 41,651,000 81,288,000 32,753,000 33,266,000 45,804,000 56,197,000 21,493,300 22,319,500 24,539,800 28,318,400
Cost of Revenue VND'k - (27,556,000) (28,427,000) (29,855,000) (13,509,000) (12,016,000) (13,618,000) (13,626,000) (8,987,000) (8,054,000) (8,484,000) (30,821,000) (7,718,000) (7,439,000) (15,387,000) (17,446,000) (4,681,700) (4,721,200) (5,483,300) (7,312,800)
Gross Profit VND'k - 54,503,000 54,157,000 63,920,000 28,785,000 27,105,000 27,900,000 35,078,000 31,838,000 32,851,000 33,167,000 50,467,000 25,035,000 25,827,000 30,417,000 38,751,000 16,811,600 17,598,300 19,056,500 21,005,600

Sales, General and Admin Expenses VND'k - (22,178,000) (22,084,000) (24,659,000) (10,102,000) (9,455,000) (8,955,000) (9,634,000) (12,612,000) (4,619,000) (11,591,000) (12,703,000) (7,899,000) (6,052,000) (11,299,000) (12,781,000) (5,975,100) (6,213,800) (6,121,200) (6,431,600)
Research & Development VND'k - (11,355,000) (12,159,000) (14,714,000) (9,752,000) (9,724,000) (13,397,000) (12,245,000) (7,760,000) (8,385,000) (9,393,000) (13,829,000) (10,329,000) (6,407,000) (6,557,000) (7,084,000) (5,051,200) (5,595,000) (6,085,700) (7,025,900)
Non-Recurring Items VND'k - (1,156,000) (428,000) (1,152,000) (632,000) (626,000) (575,000) (661,000) (1,058,000) (601,000) (579,000) (802,000) (424,000) (385,000) (1,198,000) (962,000)
Other Operating Income / Expenses VND'k - (4,736,000) (4,429,000) (3,348,000) (3,700,000) (2,250,800) (815,200) (791,600) (1,191,000)
Operating Income VND'k - 19,814,000 19,486,000 23,395,000 8,299,000 7,300,000 4,973,000 12,538,000 5,672,000 14,817,000 8,256,000 19,433,000 6,383,000 12,983,000 11,363,000 17,924,000 3,534,500 4,974,300 6,058,000 6,357,100

Additional Income / Expenses VND'k - (2,168,000) (2,788,000) (436,000) 402,000 (129,000) 890,000 1,341,000 (2,077,000) (3,497,000) (1,219,000) 4,878,000 (42,000) (3,048,000) (5,685,000) (2,551,000) 145,600 291,600 1,171,900 (201,600)
Earnings Before Interest & Tax VND'k - 17,646,000 16,698,000 22,959,000 8,701,000 7,171,000 5,863,000 13,879,000 3,595,000 11,320,000 7,037,000 24,311,000 6,341,000 9,935,000 5,678,000 15,373,000 3,680,100 5,265,900 7,229,900 6,155,500

Interest Expense VND'k - (318,000) (201,000) (183,000) (1,144,000) (1,509,000) (2,280,000) (2,384,000)
Profit/(Loss) Before Tax VND'k - 17,328,000 16,497,000 22,776,000 8,701,000 7,171,000 5,863,000 13,879,000 3,595,000 11,320,000 7,037,000 24,311,000 5,197,000 8,426,000 3,398,000 12,989,000 3,680,100 5,265,900 7,229,900 6,155,500

Tax VND'k - (2,209,000) (1,783,000) (1,898,000) (2,508,000) (1,565,000) (1,340,000) (1,521,000) 266,000 (583,000) (370,000) (1,852,000) 490,000 (544,000) 1,224,000 (1,440,000) (529,500) (628,000) (1,036,200) (573,800)
Net Profit / (Loss) VND'k - 15,119,000 14,714,000 20,878,000 6,193,000 5,606,000 4,523,000 12,358,000 3,861,000 10,737,000 6,667,000 22,459,000 5,687,000 7,882,000 4,622,000 11,549,000 3,150,600 4,637,900 6,193,700 5,581,700

1.2 Balance Sheet

Assets

Current Assets
Cash & Cash Equivalents VND'k - 17,305,000 13,985,000 14,487,000 7,965,000 9,676,000 8,050,000 8,096,000 1,139,000 1,121,000 1,786,000 1,944,000 7,289,000 39,924,000 8,449,000 9,746,000 7,320,700 2,337,500 3,657,100 3,818,500
Short-term Investments VND'k - 1,982,000 11,200,000 17,121,000 899,000 774,000 - - 17,694,000 8,525,000 10,437,000 29,125,000 772,000 - 30,000 84,000 88,200 101,000 24,200 90,100
Accounts Receivable VND'k - 14,481,000 13,576,000 15,283,000 7,071,000 6,778,000 6,803,000 9,230,000 11,399,000 9,508,000 11,177,000 15,745,000 5,384,000 5,428,000 8,822,000 9,977,000 5,776,800 5,541,500 6,929,000 8,127,200
Inventory VND'k - 9,020,000 9,344,000 10,387,000 5,440,000 5,978,000 5,554,000 5,953,000 7,508,000 7,068,000 8,020,000 9,059,000 1,605,000 1,813,000 3,310,000 3,128,000 3,098,100 3,190,700 3,980,300 3,886,000
Other Current Assets VND'k - 2,486,000 3,132,000 3,701,000 4,500,000 4,277,000 7,357,000 6,987,000 12,186,000 6,581,000 3,646,000 3,820,000 1,895,000 2,354,000 3,562,000 4,993,000 4,265,800 2,538,900 2,871,500 2,530,600
Total Current Assets VND'k - 45,274,000 51,237,000 60,979,000 25,875,000 27,483,000 27,764,000 30,266,000 49,926,000 32,803,000 35,066,000 59,693,000 16,945,000 49,519,000 24,173,000 27,928,000 20,549,600 13,709,600 17,462,100 18,452,400

Long Term Assets

Long term Investments VND'k 6,233,000 1,469,000 785,000 370,000 2,767,000 20,147,000 20,262,000 21,526,000 1,420,000 93,000 293,000 277,000 2,005,400 1,962,400 2,966,800 3,212,600
Property, Plant And Equipment VND'k
Other Fixed Assets VND'k - 17,658,000 18,766,000 18,962,000 13,291,000 15,053,000 17,000,000 19,279,000 13,385,000 12,969,000 13,745,000 14,882,000 2,883,000 2,962,000 5,248,000 5,110,000 7,996,100 7,872,900 8,681,900 8,985,100
Goodwill VND'k - 33,639,000 36,393,000 35,246,000 18,253,000 19,425,000 18,882,000 21,264,000 53,411,000 48,202,000 49,556,000 49,208,000 15,663,000 15,604,000 33,124,000 32,379,000 1,366,600 3,679,400 3,766,500 3,892,000
Intangible Assets VND'k - 47,643,000 53,402,000 46,392,000 13,104,000 14,196,000 14,101,000 22,933,000 35,211,000 33,936,000 28,337,000 25,146,000 21,233,000 18,649,000 82,876,000 75,951,000 1,068,000 6,618,000 7,450,000 7,691,900
Other Long Term Assets VND'k - 13,514,000 15,096,000 20,439,000 5,881,000 6,771,000 13,056,000 11,582,000 4,723,000 19,537,000 7,262,000 11,020,000 1,208,000 2,288,000 4,851,000 4,884,000 10,922,700 5,443,800 6,305,800 6,572,000
Total Long Term Assets VND'k - 112,454,000 123,657,000 121,039,000 56,762,000 56,914,000 63,824,000 75,428,000 109,497,000 134,791,000 119,162,000 121,782,000 42,407,000 39,596,000 126,392,000 118,601,000 23,358,800 25,576,500 29,171,000 30,353,600

Total Assets VND'k - 157,728,000 174,894,000 182,018,000 82,637,000 84,397,000 91,588,000 105,694,000 159,423,000 167,594,000 154,228,000 181,475,000 59,352,000 89,115,000 150,565,000 146,529,000 43,908,400 39,286,100 46,633,100 48,806,000

Liabilities

Current Liabilities
Accounts Payable VND'k - (34,762,000) (39,862,000) (41,460,000) (16,898,000) (18,610,000) (19,810,000) (21,460,000) (10,403,000) (9,380,000) (10,542,000) (12,424,000) (11,931,000) (11,832,000) (20,159,000) (22,699,000) (3,206,900) (3,152,900) (3,869,600) (3,641,100)
Accrued Expenses VND'k
Short-Term debt / Current Portion of Long-Term Debt VND'k - (1,202,000) (2,631,000) (3,766,000) (5,308,000) (3,610,000) (6,431,000) (2,412,000) (8,831,000) (16,195,000) (2,703,000) (2,241,000) (5,308,000) (3,753,000) (8,502,000) (12,495,000) (1,102,200) (1,499,300) (8,700) (1,538,300)
Other Current Liabilities VND'k - - (1,086,000) - (12,643,000) (11,747,000) (12,674,000) (28,006,000) (7,579,000) (7,123,000) (8,603,300) (9,873,300)
Total Current Liabilities VND'k - (35,964,000) (42,493,000) (45,226,000) (22,206,000) (22,220,000) (27,327,000) (23,872,000) (31,877,000) (37,322,000) (25,919,000) (42,671,000) (17,239,000) (15,585,000) (28,661,000) (35,194,000) (11,888,100) (11,775,200) (12,481,600) (15,052,700)

Long Term Liabilities

Long term Debt VND'k - (26,494,000) (32,635,000) (29,985,000) (19,806,000) (22,736,000) (25,360,000) (30,690,000) (47,646,000) (48,081,000) (48,693,000) (47,526,000) (35,002,000) (62,975,000) (77,554,000) (64,189,000) (9,196,400) (13,817,900) (16,586,600) (15,346,400)
Other Long Term Liabilities VND'k - (35,799,000) (36,488,000) (32,784,000) (13,924,000) (13,534,000) (13,584,000) (12,948,000) (16,511,000) (19,066,000) (16,378,000) (14,078,000) (15,557,000) (18,727,000) (31,274,000) (31,738,000) (12,995,200) (11,086,100) (11,923,300) (9,427,700)
Total Long-Term Liabilities VND'k - (62,293,000) (69,123,000) (62,769,000) (33,730,000) (36,270,000) (38,944,000) (43,638,000) (64,157,000) (67,147,000) (65,071,000) (61,604,000) (50,559,000) (81,702,000) (108,828,000) (95,927,000) (22,191,600) (24,904,000) (28,509,900) (24,774,100)

Total Liabilities VND'k - (98,257,000) (111,616,000) (107,995,000) (55,936,000) (58,490,000) (66,271,000) (67,510,000) (96,034,000) (104,469,000) (90,990,000) (104,275,000) (67,798,000) (97,287,000) (137,489,000) (131,121,000) (34,079,700) (36,679,200) (40,991,500) (39,826,800)

Equity

Share Capital VND'k - (3,120,000) (3,120,000) (3,120,000) (1,788,000) (1,788,000) (1,788,000) (1,788,000) (467,000) (468,000) (470,000) (473,000) (18,000) (18,000) (18,000) (18,000) (661,000) (598,800) (598,200) (596,300)
Share Premium VND'k - (110,659,000) (113,890,000) (123,060,000) (42,579,000) (46,602,000) (47,362,000) (53,696,000) (89,554,000) (97,670,000) (90,392,000) (103,394,000) (3,368,000) (4,717,000) (1,055,000) (3,127,000) (11,395,900) (4,920,400) (7,830,200) (8,958,500)
Retained Earnings VND'k - 38,417,000 38,490,000 39,099,000 50,929,000 55,950,000 56,787,000 57,109,000 101,610,000 110,801,000 110,988,000 111,361,000 24,108,000 24,504,000 2,264,000 3,143,000 69,400 60,800 55,700 52,700
Treasury Stock VND'k (38,808,000) (39,660,000) (39,588,000) (44,238,000) (86,253,000) (87,428,000) (88,674,000) (90,591,000) (14,756,000) (15,193,000) (17,384,000) (18,305,000) (6,583,600) (6,685,300) (6,778,500) (6,833,400)
Other Equity VND'k 15,222,000 15,891,000 15,242,000 13,058,000 5,545,000 6,193,000 6,634,000 4,429,000 11,275,000 11,640,000 5,310,000 5,897,000 2,480,000 3,596,000 3,117,000 2,899,000 8,742,400 9,536,800 9,509,600 7,356,300
Total Equity VND'k 15,222,000 (59,471,000) (63,278,000) (74,023,000) (26,701,000) (25,907,000) (25,317,000) (38,184,000) (63,389,000) (63,125,000) (63,238,000) (77,200,000) 8,446,000 8,172,000 (13,076,000) (15,408,000) (9,828,700) (2,606,900) (5,641,600) (8,979,200)

Err Balance Sheet Balances Err OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK OK

1.3 Cash Flow Statement

Cash Flows from Operating Activities

Net Profit / (Loss) VND'k - 15,119,000 14,714,000 20,878,000 6,193,000 5,606,000 4,523,000 12,358,000 11,189,000 16,056,000 9,195,000 22,025,000 5,687,000 7,882,000 4,622,000 11,549,000 3,150,600 4,637,900 6,193,700 5,581,700
Depreciation & Amortisation VND'k 6,929,000 7,009,000 7,231,000 7,390,000 4,519,000 3,310,000 3,486,000 3,214,000 6,150,000 5,755,000 4,681,000 5,191,000 1,765,000 2,017,000 6,471,000 8,521,000 1,609,000 1,232,600 1,323,900 1,547,600
Deferred Taxes VND'k
Non-Cash Items VND'k (28,000) (2,577,000) (1,099,000) (620,000) 1,763,000 2,045,000 4,209,000 1,389,000 (1,178,000) (5,321,000) 834,000 (7,440,000) 5,584,000 4,876,000 6,389,000 4,029,000 3,062,200 (3,027,200) (270,600) 1,154,000
Changes in Working Capital VND'k 3,000 3,865,000 2,690,000 (4,238,000) (1,553,000) 2,379,000 (2,215,000) (3,490,000) (334,000) (3,902,000) (307,000) 12,804,000 391,000 (1,451,000) 106,000 (1,322,000) (2,378,700) (1,687,200) (747,400) (1,022,600)
Net Cash Flow - Operating VND'k 6,904,000 23,416,000 23,536,000 23,410,000 10,922,000 13,340,000 10,003,000 13,471,000 15,827,000 12,588,000 14,403,000 32,580,000 13,427,000 13,324,000 17,588,000 22,777,000 5,443,100 1,156,100 6,499,600 7,260,700

Cash Flows from Investing Activities

Capital Expenditures VND'k (3,670,000) (3,498,000) (3,347,000) (3,652,000) (2,615,000) (3,369,000) (4,429,000) (4,448,000) (1,984,000) (2,046,000) (2,226,000) (2,711,000) (638,000) (552,000) (798,000) (787,000) (1,210,600) (1,033,900) (1,387,900) (1,309,800)
Investments VND'k (1,337,000) (195,000) (9,939,000) (5,174,000) 7,258,000 5,420,000 2,717,000 1,025,000 6,434,000 9,304,000 (1,672,000) (19,517,000) 368,000 2,116,000 1,464,000 (21,000) 5,111,900 456,200 516,700 (166,000)
Other Investing Activities VND'k 1,840,000 (2,501,000) (7,539,000) 143,000 (329,000) (4,580,000) (7,481,000) (12,998,000) 75,000 (11,204,000) (374,000) (317,000) (736,000) (968,000) (38,223,000) (1,536,000) (1,995,300) (7,505,200) (1,387,700) (1,286,500)
Net Cash Flow - Investing VND'k (3,167,000) (6,194,000) (20,825,000) (8,683,000) 4,314,000 (2,529,000) (9,193,000) (16,421,000) 4,525,000 (3,946,000) (4,272,000) (22,545,000) (1,006,000) 596,000 (37,557,000) (2,344,000) 1,906,000 (8,082,900) (2,258,900) (2,762,300)

Cash Flows from Financing Activities

Sale / (Purchase) of Share Capital VND'k (4,919,000) (5,792,000) (2,107,000) (2,420,000) (8,500,000) (4,419,000) (1,192,000) (638,000) (10,939,000) (8,865,000) - - (11,941,000) (621,000) (769,000) (690,000) (2,491,000) (4,400,000) (500,000) (1,250,000)
Net Borrowings VND'k (3,949,000) (2,881,000) 7,095,000 (990,000) 837,000 1,248,000 5,011,000 1,631,000 (935,000) 8,764,000 (12,755,000) (1,103,000) 3,229,000 26,247,000 (2,683,000) (8,414,000) (729,300) 4,685,400 291,600 501,400
Dividend Payments VND'k
Other Financing Cash Flows VND'k (9,883,000) (9,351,000) (11,019,000) (10,815,000) (5,702,000) (5,673,000) (6,398,000) 1,971,000 (8,683,000) (8,416,000) 3,098,000 (8,772,000) (5,723,000) (6,911,000) (8,054,000) (10,032,000) (2,748,200) (2,699,800) (2,712,700) (3,588,400)
Net Cash Flow - Financing VND'k (18,751,000) (18,024,000) (6,031,000) (14,225,000) (13,365,000) (8,844,000) (2,579,000) 2,964,000 (20,557,000) (8,517,000) (9,657,000) (9,875,000) (14,435,000) 18,715,000 (11,506,000) (19,136,000) (5,968,500) (2,414,400) (2,921,100) (4,337,000)

Net Cash Flow Movement

Net Cash flow Movement VND'k (15,014,000) (802,000) (3,320,000) 502,000 1,871,000 1,967,000 (1,769,000) 14,000 (205,000) 125,000 474,000 160,000 (2,014,000) 32,635,000 (31,475,000) 1,297,000 1,380,600 (9,341,200) 1,319,600 161,400

1.4 Market Value Inputs (If Available)

Market Value

CP1 - Johnson & CP2 - Merck & CP5 - Eli Lilly &
CP3 - Pfizer Inc CP4 - AbbVie Inc
Johnson Company, Inc Company

1-Jun-22 1-Jun-22 1-Jun-22 1-Jun-22 1-Jun-22

Latest Market Capitalisation VND'k 445,917,349 213,987,481 261,074,981 244,355,982 276,401,415
Latest Price per Share VND'k 170.08 84.89 47.48 139.15 288.07
Shares Outstanding no. 2,621,809,437 2,520,761,939 5,498,630,602 1,756,061,674 959,493,925

END OF WORKSHEET

857731302.xlsx Page 4 of 5 Printed on: 03/02/2025 09:40:51

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US Healthcare 2022 Financial Ratio Analysis
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1.1 Key Financials

Financial Year 31-Dec-21 #N/A

Revenue Net Profit / (Loss) Net Assets

CP1 - Johnson & CP2 - Merck & CP5 - Eli Lilly & 100,000,000 25,000,000 100,000,000
Key Financials CP3 - Pfizer Inc CP4 - AbbVie Inc
Johnson Company, Inc Company
CP1 - Johnson & Johnson
2021 2021 2021 2021 2021 90,000,000 CP3 - Pfizer Inc

CP1 - Johnson & Johnson 80,000,000

Total Revenue VND'k - - - - - CP3 - Pfizer Inc CP3 - Pfizer Inc
80,000,000 20,000,000
Gross Profit VND'k - - - - - -15222000 59471000 63278000 CP1 - Johnson & Johnson
74023000
Operating Profit VND'k - - - - - 26701000 25907000 25317000 38184000
Net Profit VND'k - - - - - 70,000,000 63389000 63125000 63238000 77200000
60,000,000
-8446000 -8172000 13076000 15408000
Total Assets VND'k - - - - - 60,000,000 15,000,000 9828700 2606900 5641600 8979200
Total Liabilities VND'k - - - - - CP4 - AbbVie Inc
Net Assets VND'k - - - - -
50,000,000 CP2 - Merck & Company, Inc CP2 - Merck & Company, Inc 40,000,000 CP2 - Merck & Company, Inc
CP4 - AbbVie Inc
Cash Flow - Operations VND'k - - - - -
Cash Flow - Investing VND'k - - - - - 40,000,000 10,000,000
Cash Flow - Financing VND'k - - - - -
20,000,000
Net Cash Flow VND'k - - - - - 30,000,000
CP5 - Eli Lilly & Company CP4 - AbbVie Inc

Latest Market Capitalisation VND'k 445,917,349 213,987,481 261,074,981 244,355,982 276,401,415 CP5 - Eli Lilly & Company CP5 - Eli Lilly & Company
20,000,000 5,000,000
-

10,000,000

- - (20,000,000)
2016 2017 2018 2019 2016 2017 2018 2019 2016 2017 2018 2019

1.2 Profitability Ratios

Profitability Ratios CP1 - Johnson & Johnson CP2 - Merck & Company, Inc CP3 - Pfizer Inc CP4 - AbbVie Inc CP5 - Eli Lilly & Company
2016 2017 2018 2019 2016 2017 2018 2019 2016 2017 2018 2019 2016 2017 2018 2019 2016 2017 2018 2019

Gross Margin Ratio % 66.4% 65.6% 68.2% 68.1% 69.3% 67.2% 72.0% 78.0% 80.3% 79.6% 62.1% 76.4% 77.6% 66.4% 69.0% 78.2% 78.8% 77.7% 74.2%
Operating Margin Ratio % 24.1% 23.6% 24.9% 19.6% 18.7% 12.0% 25.7% 13.9% 36.2% 19.8% 23.9% 19.5% 39.0% 24.8% 31.9% 16.4% 22.3% 24.7% 22.4%
Net Profit Margin Ratio % 18.4% 17.8% 22.3% 14.6% 14.3% 10.9% 25.4% 9.5% 26.2% 16.0% 27.6% 17.4% 23.7% 10.1% 20.6% 14.7% 20.8% 25.2% 19.7%
Return on Assets Ratio % 9.6% 8.4% 11.5% 7.5% 6.6% 4.9% 11.7% 2.4% 6.4% 4.3% 12.4% 9.6% 8.8% 3.1% 7.9% 7.2% 11.8% 13.3% 11.4%
Return on Equity Ratio % 0.0% 25.4% 23.3% 28.2% 23.2% 21.6% 17.9% 32.4% 6.1% 17.0% 10.5% 29.1% -67.3% -96.5% 35.3% 75.0% 32.1% 177.9% 109.8% 62.2%

Gross Margin Operating Margin Net Margin Return on Equity

90% 45% 30% 200%

CP3 - Pfizer Inc

80% 40%
CP2 - Merck & Company, Inc 150%
CP5 - Eli Lilly & Company 25%
CP2 - Merck & Company, Inc
70% CP4
CP1 -- AbbVie
JohnsonInc& Johnson 35%

CP4 - AbbVie Inc 100%

CP3 - Pfizer Inc CP4 - AbbVie Inc
60% 30% 20% CP5 - Eli Lilly & Company CP4 - AbbVie Inc
CP5 - Eli Lilly & Company
50% CP2 - Merck & Company, Inc 50%
25% CP1 - Johnson & Johnson
CP3 - Pfizer Inc CP2
CP5 - Eli Lilly & Company 15%
CP1 -- Pfizer
CP3 Merck
Johnson & &Company,
Inc Johnson Inc
40% 20% 0%

30% 15% 10%

-50%

20% 10%
5%
-100%
10% 5%

0% 0% 0% -150%
2016 2017 2018 2019 2016 2017 2018 2019 2016 2017 2018 2019 2016 2017 2018 2019

1.3 Efficiency Ratios

Efficiency Ratios CP1 - Johnson & Johnson CP2 - Merck & Company, Inc CP3 - Pfizer Inc CP4 - AbbVie Inc CP5 - Eli Lilly & Company
2016 2017 2018 2019 2016 2017 2018 2019 2016 2017 2018 2019 2016 2017 2018 2019 2016 2017 2018 2019

Asset Turnover % 52.0% 47.2% 51.5% 51.2% 46.4% 45.3% 46.1% 25.6% 24.4% 27.0% 44.8% 55.2% 37.3% 30.4% 38.4% 49.0% 56.8% 52.6% 58.0%
Inventory Turnover % 305.5% 304.2% 287.4% 248.3% 201.0% 245.2% 228.9% 119.7% 114.0% 105.8% 340.2% 480.9% 410.3% 464.9% 557.7% 151.1% 148.0% 137.8% 188.2%
Receivables Turnover % 566.7% 608.3% 613.6% 598.1% 577.2% 610.3% 527.7% 358.1% 430.2% 372.6% 516.3% 608.3% 612.9% 519.2% 563.3% 372.1% 402.8% 354.2% 348.4%
Average Inventory Days no 119 120 127 147 182 149 159 305 320 345 107 76 89 79 65 242 247 265 194
Avg Debtor Days no 64 60 59 61 63 60 69 102 85 98 71 60 60 70 65 98 91 103 105
Avg Creditor Days no 460 512 507 457 565 531 575 423 425 454 147 564 581 478 475 250 244 258 182

Asset Turnover Inventory Turnover Receivables Turnover

70% 600% 700%

CP4 - AbbVie Inc

CP1 - Johnson & Johnson
60% 600%
CP5 - Eli Lilly & Company 500%
CP4 - AbbVie Inc
CP2 - Merck & Company, Inc
CP1 - Johnson & Johnson CP3 - Pfizer Inc
50% 500%

CP2 - Merck & Company, Inc 400%

CP3 - Pfizer Inc

40% CP3 - Pfizer Inc 400%

CP4 - AbbVie Inc
300% CP5 - Eli Lilly & Company
CP1 - Johnson & Johnson
30% 300%
CP2 - Merck & Company, Inc
200%
CP5 - Eli Lilly & Company
20% 200%

100%
10% 100%

0% 0% 0%
2016 2017 2018 2019 2016 2017 2018 2019 2016 2017 2018 2019

1.4 Liquidity Ratios

Liquidity Ratios CP1 - Johnson & Johnson CP2 - Merck & Company, Inc CP3 - Pfizer Inc CP4 - AbbVie Inc CP5 - Eli Lilly & Company
2016 2017 2018 2019 2016 2017 2018 2019 2016 2017 2018 2019 2016 2017 2018 2019 2016 2017 2018 2019

Current Ratio no. 1.26 1.21 1.35 1.17 1.24 1.02 1.27 1.57 0.88 1.35 1.40 0.98 3.18 0.84 0.79 1.73 1.16 1.40 1.23
Acid-test Ratio no. 1.01 0.99 1.12 0.92 0.97 0.81 1.02 1.33 0.69 1.04 1.19 0.89 3.06 0.73 0.70 1.47 0.89 1.08 0.97
Cash Ratio no. 0.48 0.33 0.32 0.36 0.44 0.29 0.34 0.04 0.03 0.07 0.05 0.42 2.56 0.29 0.28 0.62 0.20 0.29 0.25
Operating Cash Flow Ratio no. 0.65 0.55 0.52 0.49 0.60 0.37 0.56 0.50 0.34 0.56 0.76 0.78 0.85 0.61 0.65 0.46 0.10 0.52 0.48

Current Ratio Acid Test Ratio Cash Ratio Operating Cash Flow Ratio
3.50 3.50 3.00 0.90

0.80
3.00 3.00 CP3 - Pfizer Inc
2.50
0.70
CP4 - AbbVie Inc
2.50 2.50
2.00 0.60
CP2 - Merck & Company, Inc
CP1 - Johnson & Johnson
2.00 2.00 0.50
CP5 - Eli Lilly & Company
1.50
0.40
1.50 1.50
CP3
CP1 -- Pfizer
Johnson Inc& Johnson
CP2 -- Eli
CP5 Merck
Lilly&&Company,
Company Inc CP3 - Pfizer Inc 1.00 0.30
CP1 - Johnson & Johnson
1.00 1.00 CP2 -- Eli
CP5 Merck
Lilly&&Company,
Company Inc
CP4 - AbbVie Inc 0.20
CP4 - AbbVie Inc
0.50
0.50 0.50
CP2
CP1 - Merck & & Company,
Johnson Inc 0.10
CP4 -- Johnson
CP5 AbbVie
Eli IncCompany
Lilly &

CP3 - Pfizer Inc -

- - -
2016 2017 2018 2019 2016 2017 2018 2019 2016 2017 2018 2019 2016 2017 2018 2019

1.5 Leverage & Risk Ratios

Leverage & Risk Ratios CP1 - Johnson & Johnson CP2 - Merck & Company, Inc CP3 - Pfizer Inc CP4 - AbbVie Inc CP5 - Eli Lilly & Company
2016 2017 2018 2019 2016 2017 2018 2019 2016 2017 2018 2019 2016 2017 2018 2019 2016 2017 2018 2019

Debt Ratio % 62.3% 63.8% 59.3% 67.7% 69.3% 72.4% 63.9% 60.2% 62.3% 59.0% 57.5% 114.2% 109.2% 91.3% 89.5% 77.6% 93.4% 87.9% 81.6%
Debt to Equity Ratio % 0.0% 165.2% 176.4% 145.9% 209.5% 225.8% 261.8% 176.8% 151.5% 165.5% 143.9% 135.1% -802.7% -1190.5% 1051.5% 851.0% 346.7% 1407.0% 726.6% 443.5%
Interest Coverage Ratio Times 62.3 96.9 127.8 5.6 8.6 5.0 7.5
Beaver's Failure Ratio Times 0.8 0.7 0.7 0.4 0.5 0.3 0.4 0.3 0.2 0.3 0.7 0.3 0.2 0.2 0.3 0.5 0.1 0.4 0.4
Altman's Z-Score Times 3.2 2.1 1.6 1.8 5.2

Debt Ratio Debt to Equity Ratio Interest Coverage Ratio

120% 2000% 140.00

CP1 - Johnson & Johnson

1500% 120.00
100%

CP4 - AbbVie Inc

1000% 100.00
80%
CP5 - Eli Lilly & Company CP4 - AbbVie Inc

500% CP5 - Eli Lilly & Company 80.00

CP2 - Merck & Company, Inc
60% CP1 -- Pfizer
JohnsonInc& Johnson CP2
CP3 CP1 -- Pfizer
CP3 Merck
Johnson &&
IncCompany,
Johnson Inc
0% 60.00

40%
-500% 40.00

20%
-1000% 20.00

CP4 - AbbVie Inc

0% -1500% - CP2 - Eli
CP3
CP5 Merck
Pfizer
LillyInc
&&Company,
Company Inc
2016 2017 2018 2019 2016 2017 2018 2019 2016 2017 2018 2019

1.6 Valuation Metrics

CP1 - Johnson & CP2 - Merck & CP5 - Eli Lilly &
Valuation Metrics CP3 - Pfizer Inc CP4 - AbbVie Inc
Johnson Company, Inc Company Market to Book Ratio Price Earnings Ratio Market Capitalisation
1-Jun-22 1-Jun-22 1-Jun-22 1-Jun-22 1-Jun-22 35.00 60.00 500,000,000

Market Value Per Share VND'k 170.08 84.89 47.48 139.15 288.07 445,917,349
450,000,000
Book Value Per Share VND'k 28.23 15.15 14.04 8.77 9.36 30.00
50.00
Market to Book Ratio Times 6.02 5.60 3.38 15.86 30.78 400,000,000
Earnings Per Share VND'k 7.96 4.90 4.08 6.58 5.82
Price Earnings Ratio Times 21.36 17.32 11.62 21.16 49.52 25.00 350,000,000
40.00

300,000,000 276,401,415
20.00 261,074,981
244,355,982
30.00 250,000,000
213,987,481
15.00 30.78
49.52 200,000,000

20.00
150,000,000
10.00
15.86
100,000,000
10.00 21.36 21.16
5.00 17.32
11.62 50,000,000
6.02 5.60
3.38
- - -
CP1 - Johnson & CP2 - Merck & CP3 - Pfizer Inc CP4 - AbbVie Inc CP5 - Eli Lilly & CP1 - Johnson & CP2 - Merck & CP3 - Pfizer Inc CP4 - AbbVie Inc CP5 - Eli Lilly & CP1 - Johnson & CP2 - Merck & CP3 - Pfizer Inc CP4 - AbbVie Inc CP5 - Eli Lilly &
Johnson Company, Inc Company Johnson Company, Inc Company Johnson Company, Inc Company

END OF WORKSHEET