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Q: Financial Analysis for Automobile Manufacturers ( Answered 5 out of 5 stars,   0 Comments )
Question  
Subject: Financial Analysis for Automobile Manufacturers
Category: Business and Money > Finance
Asked by: mintyfresh33-ga
List Price: $12.50
Posted: 03 Nov 2002 23:27 PST
Expires: 03 Dec 2002 23:27 PST
Question ID: 97966
I am working on a case study for the automobile manufacturers BMW,
Audi, Jaguar, and Mercedes-Benz.  I need help finding the financial
statements for these firms for at least three years back and also need
to derive the most current P/E ratios for each company, as well as ROE and ROI

Request for Question Clarification by omnivorous-ga on 04 Nov 2002 07:56 PST
BMW, Audi and Daimler-Chrysler are all independent companies with
public financial statements.  Jaguar was acquired by Ford Motor in
1989, so financial measures will be aggregated with other Ford
business units.

How do you wish to deal with this?

Best regards,

Omnivorous-GA

Clarification of Question by mintyfresh33-ga on 04 Nov 2002 09:06 PST
I was afraid that might be the case, in which case it might be hard
for me to compare relevant financial data between the firms.  Do you
know if Daimler-Chrysler and Ford produce consolidated financials in
which Mercedes-Benz and Jaguar information can be extracted?  If not I
may just have to look at the entire firm's information.  I appreciate
your help, I really do!  Let me know..

Request for Question Clarification by omnivorous-ga on 04 Nov 2002 16:30 PST
I checked the Ford financial statements and while they're nicely
detailed (market shares by country; splits in geographic sales)
there's not enough detail to even come close to reconstructing
Jaguar's financial information.  I didn't even see a sales number for
Jaguar.

Next question: what's your timeframe for getting an answer (sorry, but
I'm pretty busy right now and might not get to assembling the numbers
until Wednesday, Nov. 6).

Best regards,

Omnivorous-GA

Clarification of Question by mintyfresh33-ga on 04 Nov 2002 17:32 PST
I thought that might be the case, so for simplification reasons I
would appreciate just knowing where to find financials on them (ford,
audi, DC, and BMW) for 1999, 2000, and 2001.  And also if you could
help me determine the current P/E ratio, ROI and ROE for each as well.
 I am sorry that I complicated things.  My time frame is as soon as
possible, probably no later than Sat Nov 9th.  Again I appreciate very
much your expertise in helping me research this information.
Answer  
Subject: Re: Financial Analysis for Automobile Manufacturers
Answered By: omnivorous-ga on 05 Nov 2002 18:42 PST
Rated:5 out of 5 stars
 
Mintyfresh –

Some of these financial numbers are in annual reports or Form 10K
filings with the SEC.  Accessible, but the numbers for a large company
like Ford Motor are split into many sections.  To figure each of your
ratios we need:

Current P/E: stock market price/trailing 12 months earnings per share
ROI: earnings per share/investments per share
ROE: earnings per share/equity per share

Most of the information will come from income statements; the equity
per share will be in the balance sheet portion of each company's
reports.

I'll let you assign the stock market price, depending on what day
you'd like to choose:
Audi trades on the Munich Stock Exchange (the Wall Street Journal will
have daily closing prices)
BMW trades on the Frankfurt Exchange
Ford Motor and Daimler-Chrysler trade on the NYSE

A large number of these files are Acrobat (PDF) files and they're
pretty big.  A suggestion: find yourself a good high-speed connection
(at the library if you must) and be careful to print selective pages
that you're seeking.  I often just print the "current page" to keep
the printer's work to a minimum.


AUDI CORPORATION
-----------------

Audi's overall financial page is clean and has some interesting
background information:
http://www.audi.com/com/en/company/financial_year_2001/financial_year_2001.jsp

Interim report, 1st 6 months 2002:
http://www.audi.com/reports/audi_interim_en_02.pdf

Audi 2001 Annual Report:
http://www.audi.com/com/en/company/financial_year_2001/annual_report_download_2001.jsp

Audi 2000 Annual Report (which contains 1999 information, so you don't
have to download that report):
http://www.audi.com/com/en/company/financial_year_2001/financial_year_2000/financial_year_2000.jsp


BMW
----

The BMW Investor Relations page includes a link for share price, as
well as other information.  Be careful, these links are long and you
may need to copy them manually into your browser:
http://www.bmwgroup.com/e/nav/index.html?http://www.bmwgroup.com/e/0_0_www_bmwgroup_com/2_investor_relations/2_investor_relations.shtml?3_0

The BMW 1st 6 months 2002 report:
http://www.bmwgroup.com/e/0_0_www_bmwgroup_com/2_investor_relations/2_2_publikationen/2_2_3_zwischenbericht_0602/bmwgroup_q2002_englisch.pdf

These are the BMW Group Financial Statements for 2001, which should
enable you to prepare ROI and ROE numbers, as well as work towards a
current P/E.  The 2001 numbers always have a comparison to 2000; 1999
numbers can be found starting on page 14 of this report:
http://www.bmwgroup.com/e/0_0_www_bmwgroup_com/2_investor_relations/2_2_publikationen/2_2_1_geschaeftsbericht_01/2_2_1_1_alle_downloads_im_ueberblick/pdfs/05_BMW_AnRep2001.pdf


DAIMLER-CHRYSLER
------------------

Daimler-Chrysler's Investor Relations page is linked below (and
includes up-to-date stock prices).  It uses frames, so you'll be using
the D-C web page to retrieve documents for you:
http://www.daimlerchrysler.com/index_e.htm

The company is now in Q4 of FY2002, so it has three quarters of
information available in its "Interim Report, Q3 2002".  Make sure
that you select "The Complete Interim Report Q3 2002 (pdf-file, 728
kB)" from the above page, as the summary statistics will NOT answer
all of your questions.

For the annual reports, select "Reports/Presentations."  I did not
download the 2001 annual report, but if it is missing 1999
information, you can get that from the SEC Edgar site here:
http://www.secinfo.com/$/Search.asp?Find=Daimler-Chrysler

For example, the Annual Report/Form 10-K for the company in 2000 is
linked here:
http://www.secinfo.com/dsvR3.41P7.htm


FORD MOTOR
-----------

Ford Motor also has an excellent Investor Information page, which even
includes a link for the current stock price:
http://www.ford.com/en/ourCompany/investorInformation/default.htm

Ford is in its 3rd quarter now, so has the first half of the year's
income statements here, in either HTML or PDF format.  You can also
look at last year's quarterlies to develop your rolling 12-month
earnings statement:
http://www.ford.com/en/ourCompany/investorInformation/companyReports/quarterlyEarningsReports/default.htm

The last 5 years annual reports are here, making access convenient. 
You may want to be careful with Ford numbers, as Ford Credit and Ford
Automotive are the two main business units:
http://www.ford.com/en/ourCompany/investorInformation/companyReports/annualReports.htm


There are times when access to a good business library is easier than
using the Internet.  This is one case.  If you can find the annual
report files, at least Ford Motor and Daimler-Chrysler financial
reports will be there – and they'll be easier to skim through or copy.

Google search strategy:
"Ford Motor"
"Audi Corporation"
BMW
"Daimler-Chrysler"
http://www.secinfo.com/

Please let me know if anything is unclear before rating this question!

Best regards,

Omnivorous-GA
mintyfresh33-ga rated this answer:5 out of 5 stars
Oh my God, this researcher is wonderful.  They went far above and
beyond my expectations, and I was definately pleased.  This was my
first time using Google Answers and I was skeptical to say the least,
but I am glad that I tried, or it greatly enhanced the project results
I was working on.  Thank you Omnivorous!  You are GOD...

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