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Sears, Roebuck and Co. vs. Wal-Mart Stores, Inc.

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Sears, Roebuck and Co. vs. Wal-Mart Stores, Inc.
UNIVERSIDAD CENTROAMERICANA JOSÉ SIMEÓN CAÑAS.
MAESTRIA EN FINANZAS.
FUNDAMENTOS DEL ANÁLISIS FINANCIERO.

TRABAJO FINAL
Resolución Caso:
Sears, Roebuck and Co. vs. Wal-Mart Stores, Inc.

CATEDRÁTICO:
Lic. Mauricio Franco

PRESENTADO POR:
Acevedo Alas, Julia Beatriz
Coreas Díaz, Elsa Carolina
Menjívar Huezo, Julio Ernesto
Polanco Lizama, Marcos Guillermo
Villavicencio Salazar, Alex Edmundo
Zavaleta Franco, Lorena Guadalupe

San Salvador, 12 de julio de 2010.

Sears, Roebuck and Co. vs. Wal-Mart Stores, Inc.

En el presente trabajo se realiza una comparación entre las empresas SEARS y Walmart a través de un análisis de los Estados Financieros de ambas empresas y sus respectivas razones o índices.

A continuación se presentan los Estados Financieros de Sears Roebuck and Co.

A continuación se presentan los Estados Financieros de Wal-Mart Stores Inc.

Cálculo de Razones Financieras

Para realizar el análisis, se presenta un comparativo de las Razones Financieras de ambas Empresas:

Sears, Roebuck and Co., 1997

ROE
Retorno sobre Capital
Utilidad netaCapital Social=$1,188$5,862=20.266%

DUPONT
Se presenta el Dupont para ambas compañías:

Apalancamiento

Activo TotalCapital Social=$38,700$5,862=6.602
ROA
Retorno sobre Activos
Utilidad netaActivo Total=$1,188$38,700=3.070%

Margen Neto de Utilidades

Utilidad netaVentas=$1,188$41,296=2.877%
Rotación de Activo

VentasActivo Total=$41,296$38,700=1.067

Carga Financiero

Utilidad antes de ImpuestoUtilidad antes de Interés e Impuesto=$2,100$3,509=0.598
Carga Fiscal

Utilidad netaUtilidad antes de Impuesto=$1,188$2,100=0.566
Margen de Utilidad antes de Interés e Impuesto
UAIIVentas=$3,509$41,296=8.497%

Wal-Mart Stores, Inc., 1997

ROE
Retorno sobre Capital
Utilidad netaCapital Social=$3,056$17,143=17.827%

Apalancamiento

Activo TotalCapital Social=$39,604$17,143=2.310
ROA
Retorno sobre Activos
Utilidad netaActivo Total=$3,056$39,604=7.716%
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