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Annual Report

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Title: Annual Report Author: brett Last modified by: brett Created Date: 2/8/2006 3:37:23 AM Document presentation format: On-screen Show Other titles – PowerPoint PPT presentation

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Title: Annual Report


1
Annual Report
  • Harley Davidson
  • Brett Aleshire
  • ACG2021. 080

2
Part A. Introduction
  • Jeff Bluestein
  • Milwaukee, Wisconsin
  • December 31st
  • Harley Davidson is a company that builds the most
    famous and sought after motorcycles in the world.
  • The main geographic area is in the United States,
    but Harleys are sold and ridden all over the
    world.

3
Part A. Audit Report
  • Ernst Young LLP.
  • The auditors stated that Harley Davidsons
    management is very effective.

4
Part A. Stock Market Information
  • 60.75 per share
  • Twelve month
  • 0.405 per share
  • December 31st 2004
  • The stock looks like it is on the rise and with
    the increase in gas prices motorcycles should
    become more popular, therefore I would buy.

5
Part B. Industry Situation and Company Plans
  • The industry will always be strong and will
    always be around. Harley looks to keep growing
    and going strong.
  • Annual Report
  • Harley

6
Part C. Income Statement
  • This is a multi-step format
  • The company seems to have grown quite a bit in a
    one year span. It increased in all of the areas.

2004 2003
Gross Profit 1899535 1665566
Inc. from Op. 1361491 1149264
Net Inc. 889766 760928
7
Part C. Balance Sheet
Balance Sheet Assets 2004 Liabilities 2003 Stockholders Equity
(2004) 5,483,293 (2003) 4923088 (2004) 2264822 1965396 3218471 2957692
8
Part C. Statement of Cash Flows
  • In 2004 the cash flow from operations was more
    than net income, but in 2003 it was less.
  • The company is growing and recently opened up a
    new plant.
  • Harleys main source of financing is long-term
    loans.
  • Cash has decreased over the past two years.

9
Part D. Accounting Policies
  • The company is in a joint venture with Porsche
    and their significant policy is the Qualifying
    Special Purpose Entities.
  • Net Cash provided by operating activities
  • Reclassifications
  • Wholesale Loan Activity

10
Part E. Financial Analysis Liquidity Ratios
  • 2004
    2003
  • Working Capital 2093576
    1773354
  • Current Ratio 2.78
    2.86
  • Receivable Turnover 4.5 times 5
    times
  • Average days sales Unc. 81 days 73
    days
  • Inventory turnover 13.73
    14.24
  • Avg. days inv. On hand 26.58
    25.63

11
Part D. Financial Analysis Profitability Ratios
  • 2004
    2003
  • Profit Margin 17.7
    16.5
  • Asset turnover 1.83
    1.88
  • Return on Assets 32.5
    31
  • Return on equity 55.2
    51.4

12
Part E. Financial Analysis Solvency Ratio
  • 2004
    2003
  • Debt to equity .36
    .32

13
Part E. Financial Analysis Market Strength Ratios

  • 2004 2003
  • Price per share 22.92
    17.73
  • Earnings per share 3.02 2.52

14
Executive Summary
  • Harley Davidson is a world renowned company and
    has always been imitated, but never duplicated.
    This company should always be strong, because
    their motorcycles give the average person the
    feeling that they are flying while riding a
    Harley.
  • Financial Statement
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