文档介绍：Content
Introduction
Horizontal
Vertical analysis
Ratio
Risk/Strategy analysis
summary
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阿迪达斯财务分析
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Introduction
On August 18, 1949 ，Adidas AG registered
In August 2005, Adidas announced a $  
billion US dollar acquisition of rival Reebok
A German multinational corporation that
designs and manufactures sports
shoes, clothing and accessories.
Adidas is the largest sportswear
 manufacturer in Europe and the second
biggest in the world, after Nike.
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阿迪达斯财务分析
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Horizontal analysis
This changes suggested that the company decreased its assets base during 2013 and financed its assuming long-term debt rather than retained income .
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阿迪达斯财务分析
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Overall, gross profit and net income were up. Gross profit increased %, and net income, %. Adidas’s profit trend appears favorable.
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阿迪达斯财务分析
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In the horizontal analysis of the statement of financial position the ending retained earnings increased %. As indicated earlier, the company retained a significant portion of net income.
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阿迪达斯财务分析
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Vertical analysis
Adidas is choosing to keep the scale through retention of earnings rather than through issuing additional debt.
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阿迪达斯财务分析
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Adidas appears to be a profitable enterprise that is becoming even more successful.
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阿迪达斯财务分析
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Ratio
Assets management
Profitability
Long-term solvency
Market value
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阿迪达斯财务分析
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Assets management
Current Ratio =
2013
2012
Current Ratio
Adidas
Nike
2013
2012
2013
：1
:1
:1
We can know that it had low adequate current assets relative to its current liabilities.
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阿迪达斯财务分析
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Acid-Test Ratio
Adidas
Nike
2013
2012
2013
：1
:1
:1
The ratio had declined in 2013. When compared with Nike’s of :1, Adidas’ acid-test ratio seemed too low.
Acid-Test Ratio =
2013
2012
Assets management
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阿迪达斯财务分析
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