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THE CEO FINANCIAL ASSISTANT

Simple to operate and especially designed for the CEO, The CEO Financial Assistant creates a
concise corporate financial analysis report. It has at its core a framework that can be altered to
specific needs.
Accompanying The CEO Financial Assistant is a linked PowerPoint Presentation of key charts.
Proficiency in Microsoft Excel and PowerPoint is assumed.

For Best Viewing, please set your Screen Resolution to the highest resolution.

Copyright, 2009, JaxWorks, All Rights Reserved.

TABLE OF CONTENTS
Introduction

Auto Charts
Optimal
Performance
Break-Even
Annual Income
Chart
Quarterly
Income

Net Income Chart

Current Ratio Chart

Assets Chart

Quick Ratio Chart


Working Capital
Chart
Stock Evaluation

Chart
Sales Chart
Direct Expenses
Total Chart
Expenses

Statement
Cash Flow Chart
Cash Flow
Projections
Cash
Flow

What-If Period 4

Chart
Gross Profit Chart

Projections Chart
Ratios

What-If Overview

EBIT Chart

Z-Score Chart

Instructions
Master Data Entry
Turnover Data Chart
Expenses Data
Chart
What-If Period 1
What-If Period 2
What-If Period 3

Liabilities Chart
Balance Sheet
Chart
Cash
Flow

Copyright, 2009, JaxWorks, All Rights Reserved.

Copyright, 2009, JaxWorks, All Rights Reserved.

Dashboard
Support
Copyright
License Agreement

INSTRUCTIONS
You will be posting numbers from your financial statements to The Master Data Entry worksheet.
This worksheet drives all other analysis sheets and charts.
The shaded cells contain formulas and are automatically calculated by Excel. DO NOT enter any information into them.
Enter numbers where they are BLUE.
You may want to group all of the charts together at the end of the workbook by moving them to the order you prefer. This
will not effect the Table of Contents worksheet, however, changing tab names will corrupt the hyperlinks.
Each worksheet has been preset for printing at "Fit To 1:1", however, you may have to adjust some settings to your
printer.
The experienced spreadsheet operator can alter this product to produce a 4 year analysis rather than by quarter.

For Best Viewing Please Set Your Screen Resolution to 1024 X 768 Pixels.

Copyright, 2009, JaxWorks, All Rights Reserved.

Clear Worksheet
Add Sample Data

MASTER DATA ENTRY SHEET


Year of Projection
Corporation Type (C or S)?
Operating Data
Days sales in accounts receivable
Days materials cost in inventory
Days finished goods in inventory
Days materials cost in payables
Days payroll expense accrued
Days operating expense accrued
Expense Data
Direct labor as % of sales
Other payroll as % of sales
Payroll taxes as % of payroll
Insurance as % of payroll
Legal/accounting as % of sales
Office overhead as % of sales
Financing Data (0 on)
Long term debt
Short-term debt
Capital stock issued
Additional paid-in capital
Accumulated depreciation (as of 1999)

2000
C

16.00%
12.00%
10.00%
5.00%
2.00%
3.00%

Table of Contents

'C' Corporation format selected; income taxes WILL be computed


1st Qtr
2nd Qtr
3rd Qtr
30
30
30
30
30
30
45
45
45
60
60
60
7
7
7
20
20
20

of sales
of sales
of payroll
of payroll
of sales
of sales

$320,000
$240,000
$56,000
$28,000
$40,000
$60,000

Depreciation

Capital

$100,000
$50,000
$400,000

Copyright, 2009, JaxWorks, All Rights Reserved.

4th Qtr
30
30
45
60
7
20

$240,000
$180,000
$42,000
$21,000
$30,000
$45,000

$208,000
$156,000
$36,400
$18,200
$26,000
$39,000

$321,616
$241,212
$56,283
$28,141
$40,202
$60,303

Current Portion
$100,000
$50,000

LT Portion
$500,000

Rate
10.00%
10.00%

DATA CHART - TURNOVER

Table of Contents

60

Number of Days

50
40
30
20
10
0
1st Qtr

2nd Qtr

3rd Qtr

4th Qtr

Days payroll expense accrued

Days operating expense accrued

Days sales in accounts receivable

Days materials cost in inventory

Days finished goods in inventory

Days materials cost in payables

Copyright, 2009, JaxWorks, All Rights Reserved.

DATA CHART - EXPENSES

Table of Contents

$350,000
$300,000
$250,000
$200,000
$150,000
$100,000
$50,000
$0
1st Qtr

2nd Qtr
Insurance

Legal/Accounting

Payroll Taxes

3rd Qtr
Office Overhead

Other Payroll

Copyright, 2009, JaxWorks, All Rights Reserved.

4th Qtr
Direct Labor

What-If Period 1

Table of Contents

Reset This Worksheet

1st Qtr
Net Sales Revenue
LESS Cost of Sales
Gross Profit
PLUS Other Income
LESS All Expenses
Income Before Tax
LESS Income Taxes
Net Income (Loss)

Actuals
$2,000,000
$945,000
$1,055,000
$120,000

What-If Scenario
$2,000,000
$945,000
$1,055,000
$120,000

$474,000
$701,000
$210,300
$490,700

$474,000
$701,000
$210,300
$490,700

What-If Scenario

Actuals

$0

$500,000

Net Income (Loss)

Copyright, 2009, JaxWorks, All Rights Reserved.

$1,000,000

Gross Profit

$1,500,000

$2,000,000

Net Sales Revenue

$2,500,000

What-If Period 2

Table of Contents

Reset This Worksheet

2nd Qtr
Net Sales Revenue
LESS Cost of Sales
Gross Profit
PLUS Other Income
LESS All Expenses
Income Before Tax
LESS Income Taxes
Net Income (Loss)

Actuals
$1,500,000
$865,000
$635,000
$60,000

What-If Scenario
$1,500,000
$865,000
$635,000
$60,000

$369,458
$325,542
$97,663
$227,879

$369,458
$325,542
$97,663
$227,879

What-If Scenario

Actuals

$0

$500,000

Net Income (Loss)

Copyright, 2009, JaxWorks, All Rights Reserved.

$1,000,000

Gross Profit

$1,500,000

Net Sales Revenue

$2,000,000

What-If Period 3

Table of Contents

Reset This Worksheet

3rd Qtr
Net Sales Revenue
LESS Cost of Sales
Gross Profit
PLUS Other Income
LESS All Expenses
Income Before Tax
LESS Income Taxes
Net Income (Loss)

Actuals
$1,300,000
$833,000
$467,000
$103,000

What-If Scenario
$1,300,000
$833,000
$467,000
$103,000

$327,058
$242,942
$72,883
$170,059

$327,058
$242,942
$72,883
$170,059

What-If Scenario

Actuals

$0

$200,000

$400,000

Net Income (Loss)

Copyright, 2009, JaxWorks, All Rights Reserved.

$600,000

Gross Profit

$800,000 $1,000,000 $1,200,000 $1,400,000

Net Sales Revenue

What-If Period 4

Reset This Worksheet

Table of Contents
4th Qtr

Net Sales Revenue


LESS Cost of Sales
Gross Profit
PLUS Other Income
LESS All Expenses
Income Before Tax
LESS Income Taxes
Net Income (Loss)

Actuals
$2,010,100
$1,071,616
$938,484
$605,700

What-If Scenario
$2,010,100
$1,071,616
$938,484
$605,700

$477,599
$1,066,585
$319,975
$746,609

$477,599
$1,066,585
$319,975
$746,609

What-If Scenario

Actuals

$0

$500,000

Net Income (Loss)

Copyright, 2009, JaxWorks, All Rights Reserved.

$1,000,000

Gross Profit

$1,500,000

$2,000,000

Net Sales Revenue

$2,500,000

Reduce Expenses

2114385.839
939964.6608

508749.9718

Page 11

What-If Summary

Table of Contents
1st Qtr

Actuals
$2,000,000
$945,000
$1,055,000
$120,000

What-If Scenario
$2,000,000
$945,000
$1,055,000
$120,000

$474,000
$701,000
$210,300
$490,700

$474,000
$701,000
$210,300
$490,700

Actuals
$1,500,000

What-If Scenario
$1,500,000

LESS All Expenses


Income Before Tax
LESS Income Taxes

$865,000
$635,000
$60,000
$369,458
$325,542
$97,663

$865,000
$635,000
$60,000
$369,458
$325,542
$97,663

Net Income (Loss)

$227,879

$227,879

Actuals
$1,300,000
$833,000
$467,000
$103,000
$327,058

What-If Scenario
$1,300,000
$833,000
$467,000
$103,000
$327,058

$242,942
$72,883
$170,059

$242,942
$72,883
$170,059

Actuals
$2,010,100
$1,071,616
$938,484

What-If Scenario
$2,010,100
$1,071,616
$938,484

$605,700
$477,599
$1,066,585
$319,975
$746,609

$605,700
$477,599
$1,066,585
$319,975
$746,609

Sales Revenue
LESS Cost of Sales
Gross Profit
PLUS Other Income
LESS All Expenses
Income Before Tax
LESS Income Taxes
Net Income (Loss)

What-If Scenario

Actuals

$0

$1,000,000

Net Income (Loss)

Gross Profit

$2,000,000

$3,000,000

Sales Revenue

2nd Qtr
Sales Revenue
LESS Cost of Sales
Gross Profit
PLUS Other Income

What-If Scenario

Actuals

$0

$1,000,000

Net Income (Loss)

Gross Profit

$2,000,000

$3,000,000

Sales Revenue

3rd Qtr
Sales Revenue
LESS Cost of Sales
Gross Profit
PLUS Other Income
LESS All Expenses
Income Before Tax
LESS Income Taxes
Net Income (Loss)

What-If Scenario

Actuals

$0

$1,000,000

Net Income (Loss)

Gross Profit

$2,000,000

$3,000,000

Sales Revenue

4th Qtr
Sales Revenue
LESS Cost of Sales
Gross Profit
PLUS Other Income
LESS All Expenses
Income Before Tax
LESS Income Taxes
Net Income (Loss)

What-If Scenario

Actuals

$0

$1,000,000

Net Income (Loss)

Copyright, 2009, JaxWorks, All Rights Reserved.

Gross Profit

$2,000,000
Sales Revenue

$3,000,000

Original

6374602.99
2480277.97
3894325.02
0
-216335.03
4110660.05
226600
3884060.05

Page 13

Reduce Cost of Sales

1480277.97

Page 14

Sale s and Total Cos t of Sale s

2,500,000
2,000,000
1,500,000
1,000,000
500,000
0
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr
Sales
Total Cost of Sales

Copyright, 2009, JaxWorks, All Rights Reserved.

Optimal Quarterly Performance Analysis

Table of Contents

Average Qtr Performance


$
Total Sales

Optimal Qtr Performance


$

Variance

$
307,575

$1,702,525

100.00%

2,010,100

100.00%

Total Cost of Goods Sold

928,654

54.55%

833,000

41.44%

(95,654)

Gross Profit

773,871

45.45%

1,055,000

52.48%

281,129

Total Operating Expenses

412,029

24.20%

327,058

16.27%

(84,971)

Operating Income

361,842

21.25%

581,000

28.90%

219,158

Net Income (Loss)

408,812

24.01%

746,609

37.14%

337,797

Copyright, 2009, JaxWorks, All Rights Reserved.

Break-Even Analysis

Table of Contents
1st Qtr

2nd Qtr

3rd Qtr

4th Qtr

Annual

Sales

2,000,000

1,500,000

1,300,000

2,010,100

6,810,100

Contribution Margin

1,055,000

635,000

467,000

938,484

3,095,484

Contribution Margin Ratio

52.75%

Total Fixed Expenses

474,000

Total Fixed Expenses Ratio

23.70%

Break-Even Sales

898,578

Break-Even %

44.93%

42.33%

35.92%

369,458

327,058

24.63%

25.16%

872,735

910,440

58.18%

70.03%

46.69%
477,599
23.76%
1,022,950
50.89%

Annual Date of Break-Even

45.45%
1,648,115
24.20%
3,625,872
53.24%
7/12

Operating Profit

581,000

265,542

139,942

460,885

1,447,369

Bre ak-Eve n Analysis


$8,000,000
$7,000,000
$6,000,000
$5,000,000
$4,000,000
$3,000,000
$2,000,000

Copyright, 2009, JaxWorks, All Rights Reserved.

Jan

Dec

Nov

Oct

Sep

Aug

Jul

Jun

May

Apr

Mar

Jan

$0

Feb

$1,000,000

INCOME SUMMARY CHART - ANNUALIZED

Table of Contents

$7,000,000
$6,000,000
$5,000,000
$4,000,000
$3,000,000
$2,000,000
$1,000,000
$0
Operating Expense

Net income

Income Before Taxes

Gross Profit

Copyright, 2009, JaxWorks, All Rights Reserved.

Sales

INCOME SUMMARY CHART - 4 QTRS

Table of Contents

$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$0
1st Qtr

2nd Qtr

Operating Expense

Income Before Taxes

3rd Qtr
Gross Profit

Copyright, 2009, JaxWorks, All Rights Reserved.

4th Qtr
Sales

SALES CHART

Table of Contents

$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$0
1st Qtr

2nd Qtr

3rd Qtr

Copyright, 2009, JaxWorks, All Rights Reserved.

4th Qtr

DIRECT OPERATING EXPENSES CHART

Table of Contents

$500,000
$450,000
$400,000
$350,000
$300,000
$250,000
$200,000
$150,000
$100,000
$50,000
$0
1st Qtr

2nd Qtr
Other costs

Direct labor

3rd Qtr
Direct Materials

Copyright, 2009, JaxWorks, All Rights Reserved.

4th Qtr

TOTAL OPERATING EXPENSES CHART

Table of Contents

$500,000
$450,000
$400,000
$350,000
$300,000
$250,000
$200,000
$150,000
$100,000
$50,000
$0
1st Qtr

2nd Qtr

3rd Qtr

Copyright, 2009, JaxWorks, All Rights Reserved.

4th Qtr

GROSS PROFIT CHART

Table of Contents

$1,200,000
$1,000,000
$800,000
$600,000
$400,000
$200,000
$0
1st Qtr

2nd Qtr

3rd Qtr

Copyright, 2009, JaxWorks, All Rights Reserved.

4th Qtr

EARNING BEFORE INCOME TAX CHART

Table of Contents

$1,200,000
$1,000,000
$800,000
$600,000
$400,000
$200,000
$0
1st Qtr

2nd Qtr

3rd Qtr

Copyright, 2009, JaxWorks, All Rights Reserved.

4th Qtr

NET INCOME CHART

Table of Contents

$800,000
$700,000
$600,000
$500,000
$400,000
$300,000
$200,000
$100,000
$0
1st Qtr

2nd Qtr

3rd Qtr

Copyright, 2009, JaxWorks, All Rights Reserved.

4th Qtr

ASSETS CHART

Table of Contents

$5,000,000
$4,500,000
$4,000,000
$3,500,000
$3,000,000
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$0
1st Qtr

2nd Qtr

Intangible Assets

Current Assets

3rd Qtr
Fixed Assets

Total Assets

Copyright, 2009, JaxWorks, All Rights Reserved.

4th Qtr

LIABILITIES CHART

Table of Contents

$5,000,000
$4,500,000
$4,000,000
$3,500,000
$3,000,000
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$0
1st Qtr
Current Liabilities

2nd Qtr
Total Liabilities

Stockholders Equity

3rd Qtr

4th Qtr

Total Liabilities and Equity

Copyright, 2009, JaxWorks, All Rights Reserved.

BALANCE SHEET SUMMARY CHART

Table of Contents

$5,000,000
$4,500,000
$4,000,000
$3,500,000
$3,000,000
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$0

Intangible Assets
Total Liabilities

1999

1st Qtr

Current Liabilities
Fixed Assets

Current Assets
Total Assets

2nd Qtr

3rd Qtr

Stockholders' Equity
Total Liabilities and Equity

Copyright, 2009, JaxWorks, All Rights Reserved.

4th Qtr

CASH FLOW STATEMENT

Table of Contents

1st Qtr

Forecasted
2nd Qtr
3rd Qtr

4th Qtr

Total
4 Quarters

$490,700
$33,750

$227,879
$35,208

$170,059
$35,208

$746,609
$35,208

$1,635,247
$139,374

$524,450

$263,087

$205,267

$781,817

$1,774,621

($307,534)
($230,411)
($50,000)
($8,000)
($271,233)
$0
$153,300
($6,712)
($4,000)
$0

$164,383
$39,452
$14,910
($87,000)
$0
$0
($112,637)
($20,822)
$0
$0

$65,754
$15,781
($31,230)
$115,000
$0
$0
($24,780)
($8,329)
$0
$0

($233,458)
($117,674)
$26,320
($18,000)
$0
$0
$247,092
$29,571
$0
($50,000)

($310,855)
($292,852)
($40,000)
$2,000
($271,233)
$0
$262,975
($6,292)
($4,000)
($50,000)

($724,590)

($1,714)

$132,196

($116,149)

($710,257)

$12,500
($50,000)
$75,000
$0

$12,500
$0
$0
$0

$12,500
$0
$0
$0

$12,500
$0
$0
$0

$50,000
($50,000)
$75,000
$0

$37,500

$12,500

$12,500

$12,500

$75,000

($50,000)
($100,000)
($10,000)
($3,000)
$40,000
$0

$0
$0
$0
$0
($50,000)
$0

$0
$0
$0
$0
$0
$0

$0
$0
$0
$0
$0
$0

($50,000)
($100,000)
($10,000)
($3,000)
($10,000)
$0

Net cash from financing

($123,000)

($50,000)

$0

$0

($173,000)

Net increase (decrease) in cash

($360,640)

$198,873

$324,963

$653,168

$816,364

Cash at beginning of period

$451,000

$90,360

$289,233

$614,196

$451,000

Cash at the end of period

$90,360

$289,233

$614,196

$1,267,364

$1,267,364

Cash from operations


Net earnings (loss)
Add-depreciation and amortization
Net cash from operations
Cash provided (used) by
operating activities
Accounts Receivable
Inventory
Other current assets
Other non-current assets
Accounts payable
Current portion of long-term debt
Income taxes
Accrued expenses
Other current liabilities
Dividends paid
Net cash from operations
Investment transactions
Increases (decreases)
Land
Buildings and improvements
Equipment
Intangible assets
Net cash from investments
Financing transactions
Increases (decreases)
Short term notes payable
Long term debt
Deferred income
Deferred income taxes
Other long-term liabilities
Capital stock and paid in capital

Copyright, 2009, JaxWorks, All Rights Reserved.

CASH FLOW CHART

Table of Contents

$1,400,000
$1,200,000
$1,000,000
$800,000
$600,000
$400,000
$200,000
$0
1st Qtr

2nd Qtr

3rd Qtr

Cash at the end of period

Copyright, 2009, JaxWorks, All Rights Reserved.

4th Qtr

CASH FLOW PROJECTIONS - 8 YEARS

Table of Contents

1st Qtr
1
$490,700
$33,750

Current
2nd Qtr
3rd Qtr
2
3
$227,879
$170,059
$35,208
$35,208

4th Qtr
4
$746,609
$35,208

Forecasted-Linear Regression Analysis


5th Qtr
6th Qtr
7th Qtr
8th Qtr
5
6
7
8
$586,289
$657,279
$728,270
$799,261
$35,937
$36,374
$36,812
$37,249

$524,450

$263,087

$205,267

$781,817

$622,226

$693,654

$765,082

$836,510

($307,534)
($230,411)
($50,000)
($8,000)
($271,233)
$0
$153,300
($6,712)
($4,000)
$0

$164,383
$39,452
$14,910
($87,000)
$0
$0
($112,637)
($20,822)
$0
$0

$65,754
$15,781
($31,230)
$115,000
$0
$0
($24,780)
($8,329)
$0
$0

($233,458)
($117,674)
$26,320
($18,000)
$0
$0
$247,092
$29,571
$0
($50,000)

($46,814)
$5,422
$35,705
$43,500
$135,617
$0
$158,052
$28,763
$2,000
($50,000)

($34,454)
$36,876
$53,987
$60,700
$216,986
$0
$194,975
$40,897
$3,200
($65,000)

($22,094)
$68,330
$72,269
$77,900
$298,356
$0
$231,899
$53,031
$4,400
($80,000)

($9,734)
$99,784
$90,551
$95,100
$379,726
$0
$268,822
$65,165
$5,600
($95,000)

($724,590)

($1,714)

$132,196

($116,149)

$312,244

$508,167

$704,091

$900,014

$12,500
($50,000)
$75,000
$0

$12,500
$0
$0
$0

$12,500
$0
$0
$0

$12,500
$0
$0
$0

$12,500
$25,000
($37,500)
$0

$12,500
$40,000
($60,000)
$0

$12,500
$55,000
($82,500)
$0

$12,500
$70,000
($105,000)
$0

$37,500

$12,500

$12,500

$12,500

$0

($7,500)

($15,000)

($22,500)

($50,000)
($100,000)
($10,000)
($3,000)
$40,000
$0

$0
$0
$0
$0
($50,000)
$0

$0
$0
$0
$0
$0
$0

$0
$0
$0
$0
$0
$0

$25,000
$50,000
$5,000
$1,500
($20,000)
$0

$40,000
$80,000
$8,000
$2,400
($27,000)
$0

$55,000
$110,000
$11,000
$3,300
($34,000)
$0

$70,000
$140,000
$14,000
$4,200
($41,000)
$0

Net cash from financing

($123,000)

($50,000)

$0

$0

$61,500

$103,400

$145,300

$187,200

Net increase (decrease) in cash

($360,640)

$198,873

$324,963

$653,168

$995,970

$1,312,721

$1,629,472

$1,946,224

Cash at beginning of period

$451,000

$90,360

$289,233

$614,196

$533,313

$602,159

$671,005

$739,851

Cash at the end of period

$90,360

$289,233

$614,196

$1,267,364

$1,529,282

$1,914,880

$2,300,477

$2,686,075

Cash from operations


Net earnings (loss)
Add-depreciation and amortization
Net cash from operations
Cash provided (used) by
operating activities
Accounts Receivable
Inventory
Other current assets
Other non-current assets
Accounts payable
Current portion of long-term debt
Income taxes
Accrued expenses
Other current liabilities
Dividends paid
Net cash from operations
Investment transactions
Increases (decreases)
Land
Buildings and improvements
Equipment
Intangible assets
Net cash from investments
Financing transactions
Increases (decreases)
Short term notes payable
Long term debt
Deferred income
Deferred income taxes
Other long-term liabilities
Capital stock and paid in capital

Copyright, 2009, JaxWorks, All Rights Reserved.

CASH FLOW PROJECTIONS - 8 YEARS

Table of Contents

$3,000,000
$2,500,000
$2,000,000
$1,500,000
$1,000,000
$500,000
$0
1st Qtr

2nd Qtr

3rd Qtr

4th Qtr

5th Qtr

6th Qtr

Cash at the end of period

Copyright, 2009, JaxWorks, All Rights Reserved.

7th Qtr

8th Qtr

FINANCIAL RATIOS
Description
Altman Z Score
Liquidity Ratios
Current Ratio
Gross Margin Percentage
Quick Ratio
Activity Ratios
Days Sales in AR
Inventory Turnover
Days Inventory
Net Sales to Inventory
Days Purchases in AP
Working Capital
Net Sales to Working Capital
Total Assets to Net Sales
Net Sales to AR
Net Sales to Net Fixed Assets
Net Sales to Total Assets
Net Sales to Net Worth
Amortization and Depreciation Expense to Net Sales
Profitability Ratios
Gross Profit Percentage
Operating Expenses as % of Net Sales
Return on Total Assets
Return on Net Worth
Return on Net Sales
Income before tax to Net Worth
Income before tax to Total Assets
Retained Earning to Net Income
Coverage Ratios
Times Interest Earned
Interest Expense to Net Sales
Current Liabilities to Net Worth
Current Liabilities to Inventory
AP to Net Sales
Total Liabilities to Net Worth
Net Worth to Total Liabilities

Table of Contents
1st Qtr
2.94

2nd Qtr
2.84

3rd Qtr
2.88

4th Qtr
3.35

1.90
107%
1.07

2.27
133%
1.33

2.87
189%
1.89

3.08
228%
2.28

29.59
1.50
60.04
3.17
31.31
$680,950
2.94
1.75
3.04
1.00
0.57
0.98
0.001

29.59
1.46
61.49
2.54
34.21
$794,537
1.89
2.37
3.04
0.76
0.42
0.66
0.001

29.59
1.45
62.14
2.26
35.52
$1,102,304
1.18
2.84
3.04
0.66
0.35
0.53
0.001

29.59
1.55
58.19
2.90
27.61
$1,803,621
1.11
2.32
3.04
1.04
0.43
0.64
0.001

52.75%
21.20%
14.00%
24.05%
24.54%
34%
20%
385%

42.33%
21.20%
6.42%
10.05%
15.19%
14%
9%
930%

35.92%
21.20%
4.61%
6.97%
13.08%
10%
7%
1346%

46.69%
21.20%
16.02%
23.81%
37.14%
34%
23%
400%

35.75
0.01
0.37
1.20
0.16
0.72
1.39

16.34
0.01
0.28
1.06
0.22
0.56
1.77

8.61
0.01
0.24
1.03
0.25
0.51
1.95

28.36
0.01
0.28
1.25
0.16
0.49
2.06

Copyright, 2009, JaxWorks, All Rights Reserved.

Z-SCORE CHART

Table of Contents

3.40
3.30
3.20
3.10
3.00
2.90
2.80
2.70
2.60
2.50
1st Qtr

2nd Qtr

3rd Qtr
Altman Z Score

Copyright, 2009, JaxWorks, All Rights Reserved.

4th Qtr

CURRENT RATIO CHART

Table of Contents

3.50
3.00
2.50
2.00
1.50
1.00
0.50
1st Qtr

2nd Qtr

3rd Qtr

Copyright, 2009, JaxWorks, All Rights Reserved.

4th Qtr

QUICK RATIO CHART

Table of Contents

2.50
2.00
1.50
1.00
0.50
1st Qtr

2nd Qtr

3rd Qtr

Copyright, 2009, JaxWorks, All Rights Reserved.

4th Qtr

WORKING CAPITAL CHART

Table of Contents

$2,000,000
$1,800,000
$1,600,000
$1,400,000
$1,200,000
$1,000,000
$800,000
$600,000
$400,000
$200,000
$0
1st Qtr

2nd Qtr

3rd Qtr

Copyright, 2009, JaxWorks, All Rights Reserved.

4th Qtr

COMPANY STOCK VALUATION

Table of Contents

Enter Data Formatted in Blue - Shaded Cells Contain Formula.


Given the following assumptions, compute the value per share of the firm.

Return on incremental investment beginning 3rd Quarter


Plowback rate beginning 3rd Quarter
Weighted average cost of capital
Tax rate

20%
30%
12%
30%

1st Qtr
Sales
Earnings before interest and taxes (EBIT)
Taxes on EBIT @ 40%
EBIAT

2nd Qtr

3rd Qtr

$1,500,000
$325,542
($97,663)
$227,879

$1,300,000
$242,942
($72,883)
$170,059

4th Qtr
$2,010,100
$1,066,585
($319,975)
$746,609

Current assets less marketable securities


Current liabilities
Adjusted net working capital

$1,338,305
$757,355
$580,950

$1,418,433
$623,896
$794,537

$1,693,091
$590,787
$1,102,304

Gross property, plant and equipment


Accumulated depreciation
Net property, plant and equipment

$2,437,500
$432,500
$2,005,000

$2,450,000
$466,458
$1,983,542

$2,462,500
$500,416
$1,962,084

Invested capital

$2,585,950

$2,778,079

$3,064,388

$3,288,371

$227,879
($192,129)
$35,750

$170,059
($286,309)
($116,250)

$35,750
89.29%
$31,920
$31,920

($116,250)
79.72%
($92,673)
($60,753)

$746,609
($223,983)
$522,627
$9,233,069
$9,755,696
71.18%
$6,943,911
$6,883,158

EBIAT
Less change in invested capital
Free cash flow
Terminal value
Total
PV factor
PV of cash flow and terminal value
Cumulative PV
Enterprise value
Plus marketable securities
Less short-term debt
Less long-term debt
Equity value
Divide by number of shares outstanding
Value per share

$6,883,158
$100,000
($328,767)
($500,000)
$6,154,391
$100,000
$61.54

Copyright, 2009, JaxWorks, All Rights Reserved.

DASHBOARD
Altm an Z-Score

3.40
3.30
3.20
3.10
3.00
2.90
2.80
2.70
2.60
2.50
1st Qtr

2nd Qtr

3rd Qtr

4th Qtr

Expe ns e s

Bre ak -Eve n Analysis

$350,000

$8,000,000

$300,000

$7,000,000
$6,000,000

$250,000

$5,000,000

$200,000

$4,000,000

$150,000

$3,000,000
$100,000

$2,000,000

$50,000

Insurance

Legal/Accounting

Payroll Taxes

Office Overhead

Other Payroll

Dec

Oct

Nov

Sep

Jul

Aug

Jun

Apr

4th Qtr

May

3rd Qtr

Mar

2nd Qtr

Jan

$0
1st Qtr

Feb

$1,000,000

$0

Direct Labor

Annual Incom e

Quarterly Incom e

$2,500,000
$7,000,000

$2,000,000

$6,000,000
$1,500,000

$5,000,000
$4,000,000

$1,000,000

$3,000,000
$500,000

$2,000,000
$1,000,000

$0

$0

1st Qtr

Operating Expense

Net income

Income Before Taxes

Gross Profit

Sales

2nd Qtr

Operating Expense

3rd Qtr

Income Before Taxes

Sale s

4th Qtr

Gross Profit

Sales

Dire ct Expe ns es

$500,000
$2,500,000

$450,000
$400,000

$2,000,000

$350,000
$300,000

$1,500,000

$250,000
$200,000

$1,000,000

$150,000
$100,000

$500,000

$50,000
$0

$0

Total Expe ns es

Gros s Profit

$500,000

$1,200,000

$450,000

$1,000,000

$400,000
$350,000

$800,000

$300,000
$250,000

$600,000

$200,000
$400,000

$150,000
$100,000

$200,000

$50,000
$0

$0

Earnings Before Incom e Taxes

Ne t Incom e

$1,200,000

$800,000

$1,000,000

$700,000
$600,000

$800,000

$500,000

$600,000

$400,000

$400,000

$300,000
$200,000

$200,000

$100,000

$0

$0

As s e ts

Liabilitie s

$5,000,000

$5,000,000

$4,500,000

$4,500,000

$4,000,000

$4,000,000

$3,500,000

$3,500,000

$3,000,000

$3,000,000

$2,500,000

$2,500,000

$2,000,000

$2,000,000

$1,500,000

$1,500,000

$1,000,000

$1,000,000

$500,000

$500,000

$0

$0
1st Qtr

2nd Qtr

Intangible Assets

3rd Qtr

Current Assets

Fixed Assets

4th Qtr

1s t Qtr

Total Assets

Current Liabilities

Balance She e t Sum m ary

2nd Qtr

Total Liabilities

3rd Qtr

Stockholders Equity

4th Qtr

Total Liabilities and Equity

Cas h Flow - 4 Quarters

$5,000,000
$4,500,000
$4,000,000
$3,500,000

$1,400,000

$3,000,000

$1,200,000

$2,500,000

$1,000,000

$2,000,000

$800,000

$1,500,000

$600,000

$1,000,000

$400,000

$500,000

$200,000

$0
1999

1st Qtr

2nd Qtr

3rd Qtr

$0

4th Qtr

1st Qtr

Intangibl e Assets

Current Liabilities

Current Assets

Stockholders ' Equi ty

T otal Liabil ities

Fixed Assets

T otal As sets

Total Liabilities and Equity

2nd Qtr

Cas h Flow Proje ctions - 8 Pe riods

3rd Qtr

4th Qtr

Work ing Capital

$2,000,000
$1,800,000
$1,600,000
$1,400,000
$1,200,000

$3,000,000
$2,500,000
$2,000,000

$1,000,000
$800,000
$600,000
$400,000
$200,000
$0

$1,500,000
$1,000,000
$500,000
$0

1st Qtr
1st Qtr

2nd Qtr

3rd Qtr

4th Qtr

5th Qtr

6th Qtr

7th Qtr

2nd Qtr

3rd Qtr

4th Qtr

8th Qtr

Curre nt Ratio

Quick Ratio

3.50

2.50

3.00
2.00

2.50

1.50

2.00
1.50

1.00

1.00
0.50

0.50
-

1st Qtr

2nd Qtr

3rd Qtr

4th Qtr

1st Qtr

Copyright, 2009, JaxWorks, All Rights Reserved.

2nd Qtr

3rd Qtr

4th Qtr

Since 1996, JaxWorks has offered a suite of Free Excel workbooks and spreadsheets, and ass
documents, that cover a number of financial, accounting and sales functions. These are invalua
Also included Free are:
- business plan tools, including spreadsheets and excellent instructions
- Excel functions glossary and guide;
- free training courses for most Microsoft Office applications. These guides are in
PDF format and rival commercial books!
- comprehensive list of acronyms, ratios and formulas in customer financial
analysis, and financial terms;
- suite of online calculators, including, breakeven analysis, productivity analysis,
business evaluation;
- Altman Z-Score (covering publicly and privately held firms, and small
businesses);
- and payroll analysis.

If you are involved in financial analysis at any level, or want to learn more about MS Excel and o
this site is invaluable.

JaxWorks Small Business Spreadsheet Factory

preadsheets, and associated MS Word, PDF and HTML


ns. These are invaluable small business tools.

des are in

ncial

analysis,

about MS Excel and other applications in the Office suite

sheet Factory

Table of Contents

There is no support for Free downloads.

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Table of Contents

Copyright Notice
2009, JaxWorks
All rights reserved.
Specifications are subject to change without notice.
The CEO Financial Assistant is a registered trademark of Jaxworks. All other brands or products are trademarks or registered
trademarks of their respective holders and should be treated as such.
NOTICES REGARDING SOFTWARE, DOCUMENTS AND SERVICES.
IN NO EVENT SHALL JAXWORKS BE LIABLE FOR ANY SPECIAL, INDIRECT OR CONSEQUENTIAL DAMAGES OR ANY
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OF SOFTWARE, DOCUMENTS, PROVISION OF OR FAILURE TO PROVIDE SERVICES, OR INFORMATION AVAILABLE FROM
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License Agreement
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All Rights Reserved
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