Banks

Comparative Analysis

Income Statement

($'M) 2020 2021 $ Change % Change
Revenue 102,059.0 84,499.0 -17,560.0 -17.2
Less: Cost of Goods Sold -42,992.0 -20,848.0 22,144.0 -51.5
Gross Profit 145,051.0 105,347.0 -39,704.0 -27.4
Less: Operating Costs -24,412.0 -25,576.0 -1,164.0 4.8
Operating Profit 169,463.0 130,923.0 -38,540.0 -22.7
Less: Financing Costs -10,785.0 805.0 11,590.0 -107.5
Earnings Before Tax 180,248.0 130,118.0 -50,130.0 -27.8
Less: Income Tax -7,815.0 -11,923.0 -4,108.0 52.6
Net Profit 188,063.0 142,041.0 -46,022.0 -24.5

Balance Sheet

($'M) 2020 2021 $ Change % Change
Current Assets 3,771,649.0 3,932,664.0 161,015.0 4.3
Non Current Assets 0.0 0.0 0.0 0.0
Assets 3,771,649.0 3,932,664.0 161,015.0 4.3
Current Liabilities 3,493,048.0 3,655,399.0 162,351.0 4.6
Non Current Liabilities 0.0 0.0 0.0 0.0
Liabilities 3,493,048.0 3,655,399.0 162,351.0 4.6
Equity 278,601.0 277,265.0 -1,336.0 -0.5

Cash Flow Statement

($'M) 2020 2021 $ Change % Change
Cash Flow from Operating Activities 172,919.0 136,303.0 -36,616.0 -21.2
Cash Flow from Financing Activities -88,220.0 -28,506.0 59,714.0 -67.7
Cash Flow from Investing Activities -25,622.0 13,058.0 38,680.0 -151.0
Net Cash Flow 59,077.0 120,855.0 61,778.0 104.6
Foreign Exchange Fluctuations -3,517.0 -418.0 3,099.0 -88.1
Cash at the Beginning of the Period 162,044.0 227,437.0 65,393.0 40.4
Cash at the End of the Period 217,604.0 347,874.0 130,270.0 59.9

Ratio Analysis

Profitability

2020 2021 Change
Gross Profit Margin 142.1% 124.7% -17.5%
Operating Profit Margin 166.0% 154.9% -11.1%
Net Profit Margin 184.3% 168.1% -16.2%

Management Effectiveness

2020 2021 Change
Return on Assets 5.0% 3.6% -1.4%
Return on Equity 67.5% 51.2% -16.3%
Current Ratio 1.1 1.1 0.0
Debt to Equity Ratio 12.5 13.2 0.6

Valuation

2020 2021 Change  
Share Price ($) 25.27 38.39 13.12 51.9%
Ordinary Shares 11,510,292,551 11,542,179,002 31,886,451 0.3%
Market Capitalisation ($) 290,875,667,271 443,093,407,235 152,217,739,964 52.3%
Revenue per Share ($) 8.87 7.32 -1.55 -17.4%
Earnings per Share ($) 16.34 12.31 -4.03 -24.7%
Equity per Share ($) 24.20 24.02 -0.18 -0.8%
Dividends per Share ($) 1.33 1.08 -0.25 -18.7%
Dividend Yield 5.3% 2.8% -2.5%  
Price to Sales Ratio 2.9 5.2 2.4 84.0%
Price to Earnings Ratio 1.5 3.1 1.6 101.7%
Price to Book Ratio 1.0 1.6 0.6 53.1%