S&P/ASX 20

Comparative Analysis

Income Statement

($'M) 2020 2021 $ Change % Change
Revenue 396,715.4 352,970.7 -43,744.7 -11.0
Less: Cost of Goods Sold -216,269.5 -162,514.6 53,754.9 -24.9
Gross Profit 612,984.9 515,485.3 -97,499.6 -15.9
Less: Operating Costs -90,593.3 -86,378.0 4,215.3 -4.7
Operating Profit 703,578.2 601,863.3 -101,714.9 -14.5
Less: Financing Costs -18,203.0 -4,197.4 14,005.6 -76.9
Earnings Before Tax 721,781.2 606,060.7 -115,720.5 -16.0
Less: Income Tax -21,381.1 -32,357.8 -10,976.7 51.3
Net Profit 743,162.3 638,418.5 -104,743.8 -14.1

Balance Sheet

($'M) 2020 2021 $ Change % Change
Current Assets 4,125,487.0 4,270,847.3 145,360.3 3.5
Non Current Assets 375,162.0 272,426.5 -102,735.5 -27.4
Assets 4,500,649.0 4,543,273.8 42,624.8 0.9
Current Liabilities 3,805,333.1 3,957,581.7 152,248.6 4.0
Non Current Liabilities 187,126.4 133,807.2 -53,319.2 -28.5
Liabilities 3,992,459.5 4,091,388.9 98,929.4 2.5
Equity 508,189.5 451,884.9 -56,304.6 -11.1

Cash Flow Statement

($'M) 2020 2021 $ Change % Change
Cash Flow from Operating Activities 252,209.0 207,851.4 -44,357.6 -17.6
Cash Flow from Financing Activities -117,654.9 -68,529.9 49,125.0 -41.8
Cash Flow from Investing Activities -58,113.6 -4,835.9 53,277.7 -91.7
Net Cash Flow 76,440.5 134,485.6 58,045.1 75.9
Foreign Exchange Fluctuations -2,281.5 -3,221.6 -940.1 41.2
Cash at the Beginning of the Period 221,621.9 290,307.1 68,685.2 31.0
Cash at the End of the Period 295,780.9 421,571.1 125,790.2 42.5

Ratio Analysis

Profitability

2020 2021 Change
Gross Profit Margin 154.5% 146.0% -8.5%
Operating Profit Margin 177.4% 170.5% -6.8%
Net Profit Margin 187.3% 180.9% -6.5%

Management Effectiveness

2020 2021 Change
Return on Assets 16.5% 14.1% -2.5%
Return on Equity 146.2% 141.3% -5.0%
Current Ratio 1.1 1.1 0.0
Debt to Equity Ratio 7.9 9.1 1.2

Valuation

2020 2021 Change  
Share Price ($) 25.24 29.18 3.94 15.6%
Ordinary Shares 46,192,126,716 43,638,358,485 -2,553,768,231 -5.5%
Market Capitalisation ($) 1,165,916,101,297 1,273,178,332,189 107,262,230,892 9.2%
Revenue per Share ($) 8.59 8.09 -0.50 -5.8%
Earnings per Share ($) 16.09 14.63 -1.46 -9.1%
Equity per Share ($) 11.00 10.36 -0.65 -5.9%
Dividends per Share ($) 0.92 0.82 -0.10 -10.5%
Dividend Yield 3.6% 2.8% -0.8%  
Price to Sales Ratio 2.9 3.6 0.7 22.7%
Price to Earnings Ratio 1.6 2.0 0.4 27.1%
Price to Book Ratio 2.3 2.8 0.5 22.8%