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ivorypig770Lv1
28 Sep 2019
Please analyze the future of IBM with a company that does not have solid financials, such as Tesla. Qualitative measures will be required. What are tthe likelihoods of success and how could that be determined (for Tesla) if current numbers do not provide promise. Tesla is breaking into an emerging market of hybrid vehicle technology, and though the technology has not fully evovled, will it? How do Telsa's finaincial compare to IBM as they compare to success or failre?
Thank you
TESLA INC (TSLA) CashFlowFlag INCOME STATEMENT
Fiscal year ends in December. USD in millions except per share data. 2015-12 2016-12 Revenue 4046 7000 Cost of revenue 3123 5401 Gross profit 924 1599 Operating expenses Research and development 718 834 Sales, General and administrative 922 1432 Total operating expenses 1640 2267 Operating income -717 -667 Interest Expense 119 199 Other income (expense) -40 120 Income before taxes -876 -746 Provision for income taxes 13 27 Net income from continuing operations -889 -773 Other 98 Net income -889 -675 Net income available to common shareholders -889 -675 Earnings per share Basic -6.93 -4.68 Diluted -6.93 -4.68 Weighted average shares outstanding Basic 128 144 Diluted 128 144 EBITDA -334 400 TESLA INC (TSLA) Statement of CASH FLOW Fiscal year ends in December. USD in millions except per share data. 2015-12 2016-12 Cash Flows From Operating Activities Net income -889 -773 Depreciation & amortization 423 947 Amortization of debt discount/premium and issuance costs 72 87 Stock based compensation 198 334 Accounts receivable 46 -217 Inventory -1574 -2466 Prepaid expenses -30 57 Accounts payable Accrued liabilities Other working capital 1064 1932 Other non-cash items 165 -26 Net cash provided by operating activities -524 -124 Cash Flows From Investing Activities Investments in property, plant, and equipment -1635 -1440 Acquisitions, net -12 214 Purchases of investments Sales/Maturities of investments 17 Other investing activities -26 -206 Net cash used for investing activities -1674 -1416 Cash Flows From Financing Activities Debt issued 319 2853 Debt repayment -204 -1904 Warrant issued Common stock issued 750 1702 Other financing activities 658 1094 Net cash provided by (used for) financing activities 1524 3744 Effect of exchange rate changes -34 -7 Net change in cash -709 2196 Cash at beginning of period 1906 1197 Cash at end of period 1197 3393 Free Cash Flow Operating cash flow -524 -124 Capital expenditure -1635 -1440 Free cash flow -2159 -1564 TESLA INC (TSLA) CashFlowFlag BALANCE SHEET Fiscal year ends in December. USD in millions except per share data. 2015-12 2016-12 Assets Current assets Cash Cash and cash equivalents 1197 3393 Total cash 1197 3393 Receivables 169 499 Inventories 1278 2067 Prepaid expenses 125 194 Other current assets 23 106 Total current assets 2792 6260 Non-current assets Property, plant and equipment Gross property, plant and equipment 5766 12920 Accumulated Depreciation -571 -1018 Net property, plant and equipment 5195 15037 Intangible assets 376 Other long-term assets 106 991 Total non-current assets 5301 16404 Total assets 8092 22664 Liabilities and stockholders' equity Liabilities Current liabilities Short-term debt 1150 Capital leases 633 Accounts payable 916 1860 Taxes payable 101 153 Accrued liabilities 322 1005 Deferred revenues 707 1427 Other current liabilities 137 232 Total current liabilities 2816 5827 Non-current liabilities Long-term debt 2082 118 Capital leases Deferred taxes liabilities Accrued liabilities 150 Deferred revenues 446 852 Minority interest 785 Other long-term liabilities 1659 10179 Total non-current liabilities 4187 12084 Total liabilities 7004 17911 Stockholders' equity Common stock 0 0 Additional paid-in capital 3415 7774 Retained earnings -2322 -2997 Accumulated other comprehensive income -4 -24 Total stockholders' equity 1089 4753 Total liabilities and stockholders' equity 8092 22664 INTERNATIONAL BUSINESS MACHINES CORP (IBM) CashFlowFlag INCOME STATEMENT Fiscal year ends in December. USD in millions except per share data. 2015-12 2016-12 Revenue 81741 79919 Cost of revenue 41057 41625 Gross profit 40684 38294 Operating expenses Research and development 4565 4120 Sales, General and administrative 19894 20479 Other operating expenses 535 590 Total operating expenses 24994 25189 Operating income 15690 13105 Interest Expense 468 630 Other income (expense) 723 -145 Income before taxes 15945 12330 Provision for income taxes 2581 449 Net income from continuing operations 13364 11881 Net income from discontinuing ops -174 -9 Net income 13190 11872 Net income available to common shareholders 13190 11872 Earnings per share Basic 13.48 12.43 Diluted 13.42 12.38 Weighted average shares outstanding Basic 979 955 Diluted 983 959 EBITDA 20268 17341 INTERNATIONAL BUSINESS MACHINES CORP (IBM) Statement of CASH FLOW Fiscal year ends in December. USD in millions except per share data. 2015-12 2016-12 Cash Flows From Operating Activities Net income 13190 11872 Depreciation & amortization 3855 4381 Deferred income taxes 1387 -1132 Stock based compensation 468 544 Inventory 133 -14 Accounts payable 81 197 Accrued liabilities Other working capital -2658 1048 Other non-cash items 552 62 Net cash provided by operating activities 17008 16958 Cash Flows From Investing Activities Investments in property, plant, and equipment -3579 -3567 Property, plant, and equipment reductions 370 424 Acquisitions, net -3750 -6133 Purchases of investments -3073 -5917 Sales/Maturities of investments 2842 5692 Purchases of intangibles -572 -583 Other investing activities -397 -892 Net cash used for investing activities -8159 -10976 Cash Flows From Financing Activities Debt issued 5540 9132 Debt repayment -5622 -6395 Common stock issued 322 204 Common stock repurchased -4609 -3502 Dividend paid -4897 -5256 Other financing activities 100 26 Net cash provided by (used for) financing activities -9166 -5791 Effect of exchange rate changes Net change in cash -317 191 Cash at beginning of period 8476 7686 Cash at end of period 8159 7877 Free Cash Flow Operating cash flow 17008 16958 Capital expenditure -4151 -4150 Free cash flow 12857 12808 INTERNATIONAL BUSINESS MACHINES CORP (IBM) CashFlowFlag BALANCE SHEET Fiscal year ends in December. USD in millions except per share data. 2015-12 2016-12 Assets Current assets Cash Cash and cash equivalents 7686 7826 Short-term investments 508 701 Total cash 8194 8527 Receivables 1201 1057 Inventories 1551 1553 Deferred income taxes Prepaid expenses 4205 4564 Other current assets 27353 28187 Total current assets 42504 43888 Non-current assets Property, plant and equipment Gross property, plant and equipment 29341 60267 Accumulated Depreciation -18616 -38606 Net property, plant and equipment 10725 21661 Equity and other investments 5187 4585 Goodwill 32021 36199 Intangible assets 3486 4689 Deferred income taxes 4822 5224 Prepaid pension benefit Other long-term assets 11747 12055 Total non-current assets 67988 84413 Total assets 110492 128301 Liabilities and stockholders' equity Liabilities Current liabilities Short-term debt 6461 7513 Accounts payable 6028 6209 Taxes payable 2847 3235 Accrued liabilities 7913 8282 Deferred revenues 11021 11035 Other current liabilities -1 1 Total current liabilities 34269 36275 Non-current liabilities Long-term debt 33428 34655 Deferred taxes liabilities Accrued liabilities Deferred revenues 3771 3600 Pensions and other benefits 16504 17070 Minority interest 162 146 Other long-term liabilities 8099 7478 Total non-current liabilities 61964 62949 Total liabilities 96233 99224 Stockholders' equity Common stock 53262 53935 Retained earnings 146124 152759 Treasury stock -155518 -159050 Accumulated other comprehensive income -29606 -29398 Total stockholders' equity 14262 18246 Total liabilities and stockholders' equity 110495 117470
Please analyze the future of IBM with a company that does not have solid financials, such as Tesla. Qualitative measures will be required. What are tthe likelihoods of success and how could that be determined (for Tesla) if current numbers do not provide promise. Tesla is breaking into an emerging market of hybrid vehicle technology, and though the technology has not fully evovled, will it? How do Telsa's finaincial compare to IBM as they compare to success or failre?
Thank you
TESLA INC (TSLA) CashFlowFlag INCOME STATEMENT | ||
Fiscal year ends in December. USD in millions except per share data. | 2015-12 | 2016-12 |
Revenue | 4046 | 7000 |
Cost of revenue | 3123 | 5401 |
Gross profit | 924 | 1599 |
Operating expenses | ||
Research and development | 718 | 834 |
Sales, General and administrative | 922 | 1432 |
Total operating expenses | 1640 | 2267 |
Operating income | -717 | -667 |
Interest Expense | 119 | 199 |
Other income (expense) | -40 | 120 |
Income before taxes | -876 | -746 |
Provision for income taxes | 13 | 27 |
Net income from continuing operations | -889 | -773 |
Other | 98 | |
Net income | -889 | -675 |
Net income available to common shareholders | -889 | -675 |
Earnings per share | ||
Basic | -6.93 | -4.68 |
Diluted | -6.93 | -4.68 |
Weighted average shares outstanding | ||
Basic | 128 | 144 |
Diluted | 128 | 144 |
EBITDA | -334 | 400 |
TESLA INC (TSLA) Statement of CASH FLOW | ||
Fiscal year ends in December. USD in millions except per share data. | 2015-12 | 2016-12 |
Cash Flows From Operating Activities | ||
Net income | -889 | -773 |
Depreciation & amortization | 423 | 947 |
Amortization of debt discount/premium and issuance costs | 72 | 87 |
Stock based compensation | 198 | 334 |
Accounts receivable | 46 | -217 |
Inventory | -1574 | -2466 |
Prepaid expenses | -30 | 57 |
Accounts payable | ||
Accrued liabilities | ||
Other working capital | 1064 | 1932 |
Other non-cash items | 165 | -26 |
Net cash provided by operating activities | -524 | -124 |
Cash Flows From Investing Activities | ||
Investments in property, plant, and equipment | -1635 | -1440 |
Acquisitions, net | -12 | 214 |
Purchases of investments | ||
Sales/Maturities of investments | 17 | |
Other investing activities | -26 | -206 |
Net cash used for investing activities | -1674 | -1416 |
Cash Flows From Financing Activities | ||
Debt issued | 319 | 2853 |
Debt repayment | -204 | -1904 |
Warrant issued | ||
Common stock issued | 750 | 1702 |
Other financing activities | 658 | 1094 |
Net cash provided by (used for) financing activities | 1524 | 3744 |
Effect of exchange rate changes | -34 | -7 |
Net change in cash | -709 | 2196 |
Cash at beginning of period | 1906 | 1197 |
Cash at end of period | 1197 | 3393 |
Free Cash Flow | ||
Operating cash flow | -524 | -124 |
Capital expenditure | -1635 | -1440 |
Free cash flow | -2159 | -1564 |
TESLA INC (TSLA) CashFlowFlag BALANCE SHEET | ||
Fiscal year ends in December. USD in millions except per share data. | 2015-12 | 2016-12 |
Assets | ||
Current assets | ||
Cash | ||
Cash and cash equivalents | 1197 | 3393 |
Total cash | 1197 | 3393 |
Receivables | 169 | 499 |
Inventories | 1278 | 2067 |
Prepaid expenses | 125 | 194 |
Other current assets | 23 | 106 |
Total current assets | 2792 | 6260 |
Non-current assets | ||
Property, plant and equipment | ||
Gross property, plant and equipment | 5766 | 12920 |
Accumulated Depreciation | -571 | -1018 |
Net property, plant and equipment | 5195 | 15037 |
Intangible assets | 376 | |
Other long-term assets | 106 | 991 |
Total non-current assets | 5301 | 16404 |
Total assets | 8092 | 22664 |
Liabilities and stockholders' equity | ||
Liabilities | ||
Current liabilities | ||
Short-term debt | 1150 | |
Capital leases | 633 | |
Accounts payable | 916 | 1860 |
Taxes payable | 101 | 153 |
Accrued liabilities | 322 | 1005 |
Deferred revenues | 707 | 1427 |
Other current liabilities | 137 | 232 |
Total current liabilities | 2816 | 5827 |
Non-current liabilities | ||
Long-term debt | 2082 | 118 |
Capital leases | ||
Deferred taxes liabilities | ||
Accrued liabilities | 150 | |
Deferred revenues | 446 | 852 |
Minority interest | 785 | |
Other long-term liabilities | 1659 | 10179 |
Total non-current liabilities | 4187 | 12084 |
Total liabilities | 7004 | 17911 |
Stockholders' equity | ||
Common stock | 0 | 0 |
Additional paid-in capital | 3415 | 7774 |
Retained earnings | -2322 | -2997 |
Accumulated other comprehensive income | -4 | -24 |
Total stockholders' equity | 1089 | 4753 |
Total liabilities and stockholders' equity | 8092 | 22664 |
INTERNATIONAL BUSINESS MACHINES CORP (IBM) CashFlowFlag INCOME STATEMENT | ||
Fiscal year ends in December. USD in millions except per share data. | 2015-12 | 2016-12 |
Revenue | 81741 | 79919 |
Cost of revenue | 41057 | 41625 |
Gross profit | 40684 | 38294 |
Operating expenses | ||
Research and development | 4565 | 4120 |
Sales, General and administrative | 19894 | 20479 |
Other operating expenses | 535 | 590 |
Total operating expenses | 24994 | 25189 |
Operating income | 15690 | 13105 |
Interest Expense | 468 | 630 |
Other income (expense) | 723 | -145 |
Income before taxes | 15945 | 12330 |
Provision for income taxes | 2581 | 449 |
Net income from continuing operations | 13364 | 11881 |
Net income from discontinuing ops | -174 | -9 |
Net income | 13190 | 11872 |
Net income available to common shareholders | 13190 | 11872 |
Earnings per share | ||
Basic | 13.48 | 12.43 |
Diluted | 13.42 | 12.38 |
Weighted average shares outstanding | ||
Basic | 979 | 955 |
Diluted | 983 | 959 |
EBITDA | 20268 | 17341 |
INTERNATIONAL BUSINESS MACHINES CORP (IBM) Statement of CASH FLOW | ||
Fiscal year ends in December. USD in millions except per share data. | 2015-12 | 2016-12 |
Cash Flows From Operating Activities | ||
Net income | 13190 | 11872 |
Depreciation & amortization | 3855 | 4381 |
Deferred income taxes | 1387 | -1132 |
Stock based compensation | 468 | 544 |
Inventory | 133 | -14 |
Accounts payable | 81 | 197 |
Accrued liabilities | ||
Other working capital | -2658 | 1048 |
Other non-cash items | 552 | 62 |
Net cash provided by operating activities | 17008 | 16958 |
Cash Flows From Investing Activities | ||
Investments in property, plant, and equipment | -3579 | -3567 |
Property, plant, and equipment reductions | 370 | 424 |
Acquisitions, net | -3750 | -6133 |
Purchases of investments | -3073 | -5917 |
Sales/Maturities of investments | 2842 | 5692 |
Purchases of intangibles | -572 | -583 |
Other investing activities | -397 | -892 |
Net cash used for investing activities | -8159 | -10976 |
Cash Flows From Financing Activities | ||
Debt issued | 5540 | 9132 |
Debt repayment | -5622 | -6395 |
Common stock issued | 322 | 204 |
Common stock repurchased | -4609 | -3502 |
Dividend paid | -4897 | -5256 |
Other financing activities | 100 | 26 |
Net cash provided by (used for) financing activities | -9166 | -5791 |
Effect of exchange rate changes | ||
Net change in cash | -317 | 191 |
Cash at beginning of period | 8476 | 7686 |
Cash at end of period | 8159 | 7877 |
Free Cash Flow | ||
Operating cash flow | 17008 | 16958 |
Capital expenditure | -4151 | -4150 |
Free cash flow | 12857 | 12808 |
INTERNATIONAL BUSINESS MACHINES CORP (IBM) CashFlowFlag BALANCE SHEET | ||
Fiscal year ends in December. USD in millions except per share data. | 2015-12 | 2016-12 |
Assets | ||
Current assets | ||
Cash | ||
Cash and cash equivalents | 7686 | 7826 |
Short-term investments | 508 | 701 |
Total cash | 8194 | 8527 |
Receivables | 1201 | 1057 |
Inventories | 1551 | 1553 |
Deferred income taxes | ||
Prepaid expenses | 4205 | 4564 |
Other current assets | 27353 | 28187 |
Total current assets | 42504 | 43888 |
Non-current assets | ||
Property, plant and equipment | ||
Gross property, plant and equipment | 29341 | 60267 |
Accumulated Depreciation | -18616 | -38606 |
Net property, plant and equipment | 10725 | 21661 |
Equity and other investments | 5187 | 4585 |
Goodwill | 32021 | 36199 |
Intangible assets | 3486 | 4689 |
Deferred income taxes | 4822 | 5224 |
Prepaid pension benefit | ||
Other long-term assets | 11747 | 12055 |
Total non-current assets | 67988 | 84413 |
Total assets | 110492 | 128301 |
Liabilities and stockholders' equity | ||
Liabilities | ||
Current liabilities | ||
Short-term debt | 6461 | 7513 |
Accounts payable | 6028 | 6209 |
Taxes payable | 2847 | 3235 |
Accrued liabilities | 7913 | 8282 |
Deferred revenues | 11021 | 11035 |
Other current liabilities | -1 | 1 |
Total current liabilities | 34269 | 36275 |
Non-current liabilities | ||
Long-term debt | 33428 | 34655 |
Deferred taxes liabilities | ||
Accrued liabilities | ||
Deferred revenues | 3771 | 3600 |
Pensions and other benefits | 16504 | 17070 |
Minority interest | 162 | 146 |
Other long-term liabilities | 8099 | 7478 |
Total non-current liabilities | 61964 | 62949 |
Total liabilities | 96233 | 99224 |
Stockholders' equity | ||
Common stock | 53262 | 53935 |
Retained earnings | 146124 | 152759 |
Treasury stock | -155518 | -159050 |
Accumulated other comprehensive income | -29606 | -29398 |
Total stockholders' equity | 14262 | 18246 |
Total liabilities and stockholders' equity | 110495 | 117470 |
Deanna HettingerLv2
28 Sep 2019