“I need financial ratios for the ears 1991-2001 in the medical
supply/equipment industry. I have tried hoovers and many other
searches and cannot come up with what I am looking for. To be more
specific, I need Gross profit Margin, Net profit Margin, Return on
Assets, Return on Equity, current ratio, quick ratio, inventory to net
working capital, Debt to Assets ratio, debt to requity ratio,
long-term debt to equity ratio, inventory turnover, fixed asset
turnover, and the average collection period.”
Answer:
Since the vast majority of companies are private entities and release
no financials, a completely accurate industry ratio is impossible,
though we can extrapolate from public data. What I’m providing you
with is all your ratios, calculated from data for 358 publicly traded
companies. Last year, these companies combined to generate more than
$75 billion in sales.
You didn’t specify whether you wanted an overall ratio for the
industry, or the average ratio of the companies in the industry. Based
on the wording of your question, I concluded that you wanted the ratio
based on industry aggregate data, so I provided the overall ratio for
most of the data. I did use the industry average for inventory
turnover, fixed-asset turnover, and average collection period, as
those last would be distorted using aggregate data because of their
dependence on two years of data. (The aggregate numbers would be
skewed because a number of companies went public a given year, and any
aggregate of prior-year data would be artificially low because the new
entries would add to the total in the most recent year.
In general, I prefer to use the average ratio for companies in the
industry for all statistical analysis, as that eliminates the
large-company bias in the data. The industry average ratio takes a lot
longer to compute. But I already have all of the data, and if you’re
interested, I could run those numbers for you.
I have access to the fee-for-services databases that make this
financial data available to me, though most if not all of the data is
available in the annual reports of the 358 companies. If you want to
do further research, I think a far better option than visiting company
Web sites is to subscribe to http://10kwizard.com and look at the SEC
filings. If you look at such data often, the price is reasonable,
$125/year. I’ve provided a list of all the company names and ticker
symbols underneath the statistical data. I’ve also included the
equations, so you can see how I calculated the data.
2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991
Gross Profit Margin 59% 57% 54% 53% 51% 50% 48% 44% 45% 44% 43%
Net Profit Margin 5% 7% 7% 4% 4% 6% 7% 6% 3% 6% 5%
Return on Assets 4% 5% 5% 3% 3% 5% 5% 5% 3% 6% 5%
Return on Equity 8% 12% 12% 7% 8% 12% 12% 12% 7% 13% 12%
Current Ratio 1.8 1.8 1.8 1.8 1.8 1.8 1.8 1.7 1.7 1.7 1.7
Quick Ratio 1.2 1.1 1.1 1.1 1.2 1.2 1.1 1.1 1.1 1.1 1.1
Inventory/Net Working
Capital 64% 64% 68% 71% 66% 65% 71% 78% 78% 83% 84%
Debt/Assets 24% 28% 29% 30% 25% 22% 23% 22% 23% 24% 25%
Debt/Equity 50% 62% 66% 73% 57% 47% 52% 50% 53% 55% 57%
Long-Term Debt/Equity 37% 44% 50% 57% 42% 34% 39% 36% 35% 37% 39%
Inventory Turnover 3.6 3.3 3.3 3.6 3.8 3.8 3.7 3.6 3.5 3.1 3.1
Fixed-Asset Turnover 6.9 6.5 6.1 6.3 6.9 7.0 7.9 8.2 7.6 8.5 8.9
Avg. Collection Period 71 72 77 74 72 71 70 68 69 68 67
Equations:
Gross profit margin = (sales – cost of goods sold)/sales
Net profit margin = net income/sales
Return on assets = net income/total assets
Return on equity = net income/shareholders equity
Current ratio = current assets/current liabilities
Quick ratio = (cash and equivalents + receivables)/current liabilities
Inventory to net working capital = inventory/(current assets – current
liabilities)
Debt to assets = total debt/total assets
Debt to equity = total debt/shareholders equity
Long-term debt to equity = long-term debt/shareholders equity
Inventory turnover = cost of goods sold/(average of past two years’
inventory)
Fixed asset turnover = sales/(average of past two years’ property,
plant, and equipment)
Average collection period = (average of past two years’
receivables)/(sales/360)
Companies used in analysis:
1-800 CONTACTS INC CTAC
4-D NEUROIMAGING 3FDNX
ABAXIS INC ABAX
ABIOMED INC ABMD
ADM TRONICS UNLIMITED INC/DE 3ADMT
ADV NEUROMODULATION SYS INC ANSI
ADVANCED MAGNETICS INC AVM
ADVANCED MEDICAL OPTICS INC AVO
AEROGEN INC AEGN
AETHLON MEDICAL INC 3AEMD
AFP IMAGING CORP 3AFPC
AKSYS LTD AKSY
ALARIS MEDICAL INC AMI
ALCON INC ACL
ALIGN TECHNOLOGY INC ALGN
ALLIED HEALTHCARE PRODS INC AHPI
ALR TECHNOLOGIES INC 3ALRT
ALTUS MEDICAL INC -REDH ALTU
AMDL INC ADL
AMERICAN BIO MEDICA CORP ABMC
AMERICAN MEDICAL SYSTMS HLDS AMMD
AMERICAN MEDICAL TECHNOL INC ADLI
AMERSHAM PLC -ADR AHM
ANGEION CORPORATION ANGVC
ANIKA THERAPEUTICS INC ANIK
ANSELL LTD -ADR ANSL
ANTARES PHARMA INC ANTR
APOGENT TECHNOLOGIES INC AOT
APPLERA CORP APPLIED BIOSYS ABI
APPLIED BIOMETRICS INC 3ABIO
APPLIED IMAGING CORP AICX
ARADIGM CORP ARDM
ARISTOTLE CORP ARTL
ARRHYTHMIA RESH TECH HRT
ARROW INTERNATIONAL ARRO
ARTHROCARE CORP ARTC
ASPECT MED SYS INC ASPM
ATRION CORP ATRI
ATS MEDICAL INC ATSI
AVITAR INC AVR
BARD (C.R.) INC BCR
BAUSCH & LOMB INC BOL
BAXTER INTERNATIONAL INC BAX
BECKMAN COULTER INC BEC
BECTON DICKINSON & CO BDX
BIACORE INTL AB -SP ADR BCOR
BIO LOK INTL INC 3BLLI
BIO PLEXUS INC 3BPXS.
BIO-LOGIC SYSTEMS CORP BLSC
BIO-PLEXUS INC 3BPXS
BIO-RAD LABORATORIES INC BIO
BIOFIELD CORP 3BZET
BIOJECT MEDICAL TECHNOL BJCT
BIOLASE TECHNOLOGY INC BLTI
BIOLIFE SOLUTIONS INC 3BLFS
BIOMERICA INC 3BMRA
BIOMET INC BMET
BIONX IMPLANTS INC BINX
BIOPHAN TECHNOLOGIES INC 3BIPH
BIOSITE INC BSTE
BOSTON BIOMEDICA INC BBII
BOSTON SCIENTIFIC CORP BSX
BOVIE MEDICAL CORP 3BOVI
BRUKER AXS INC BAXS
BRUKER DALTONICS INC BDAL
BSD MEDICAL CORP/DE 3BSDM
CAMBRIDGE HEART INC CAMH
CANDELA CORP CLZR
CANTEL MEDICAL CORP -CL B CMN
CAPRIUS INC 3CAPR
CARDIAC SCIENCE INC DFIB
CARDIMA INC CRDM
CARDIODYNAMICS INTL CORP CDIC
CARDIOGENESIS CORP CGCP
CARDIOTECH INTERNATIONAL INC CTE
CARESIDE INC CSA
CARRINGTON LABS CARN
CAS MEDICAL SYSTEMS INC 3CAMY
CDMI PRODUCTIONS INC 3CDMP
CELL ROBOTICS INTL INC 3CRII
CENTERPULSE LTD -ADR CEP
CERUS CORP CERS
CHAD THERAPEUTICS INC CTU
CHOLESTECH CORP CTEC
CHROMAVISION MEDICAL SYS INC CVSN
CLOSURE MEDICAL CORP CLSR
CNS INC CNXS
COHESION TECHNOLOGIES INC CSON
COLORADO MEDTECH INC CMED
COMPUTER MOTION INC RBOT
COMPUTERIZED THERMAL IMAGING CIO
CONCEPTUS INC CPTS
CONMED CORP CNMD
COOPER COMPANIES INC COO
CORGENIX MEDICAL CORP 3CONX
CORONADO INDUSTRIES INC 3CDIK
CPC OF AMERICA INC 3CPCF
CRITICARE SYSTEMS INC CXIM
CTI MOLECULAR IMAGING INC CTMI
CURON MED INC CURN
CYBERONICS INC CYBX
CYCLOPSS CORP 3OZON
CYGNUS INC CYGN
CYTOMEDIX INC 3CYME
CYTYC CORP CYTC
DATASCOPE CORP DSCP
DE RIGO S P A -SPON ADR DER
DEL GLOBAL TECHNOLOGIES CORP 3DGTC
DELCATH SYSTEMS INC DCTH
DENTAL MED DIAGNOSTIC SYS 3DMDS
DENTSPLY INTERNATL INC XRAY
DERMA SCIENCES INC 3DSCI
DEXTERITY SURGICAL INC 3DEXT
DIAGNOSTIC PRODUCTS CORP DP
DIAMETRICS MEDICAL INC DMED
DIAPULSE CORP OF AMERICA 3DIAC
DIASYS CORP DYX
DIOMED HOLDINGS INC DIO
DJ ORTHOPEDICS INC DJO
DYAX CORP DYAX
DYNATRONICS CORP DYNT
E-Z-EM-INC EZM
ECHOCATH INC -CL A 3ECHTA
EDAP TMS S A -ADR EDAP
EDWARDS LIFESCIENCES CORP EW
ELBIT MEDICAL IMAGING LTD EMITF
ELECTROPHARMACOLOGY INC 3EPHIE
ELSCINT LTD -ORD ELT
EMBRYO DEVELOPMENT CORP 3EMBR
EMERGENCY FILTRATION PRODS 3EMFP
ENCISION INC 3ECSN
ENCORE MEDICAL CORP ENMC
ENDOCARDIAL SOLUTIONS INC ECSI
ENDOCARE INC ENDO
ENDOLOGIX INC ELGX
ENTERPRISE TECHNOLOGIES INC 3ETPT
EP MEDSYSTEMS INC EPMD
EPIX MEDICAL INC EPIX
EQUIDYNE CORP IJX
ESCALON MEDICAL CORP ESMC
EVENFLO INC 0177B
EXACTECH INC EXAC
EYECITY.COM INC 3ICTY
FISCHER IMAGING CORP FIMGE
FISHER & PAYKEL HEALTH -ADS FPHC
FISHER SCIENTIFIC INTL INC FSH
GENETRONICS BIOMEDICAL CORP GEB
GENOMIC SOLUTIONS INC GNSL
GISH BIOMEDICAL INC GISH
GIVEN IMAGING LTD GIVN
GLIATECH INC GLIAQ
GUIDANT CORP GDT
HABER INC 3HABE
HAEMONETICS CORP HAE
HEALTHCARE TECHNOLOGIES LTD HCTL
HEALTHETECH INC HETC
HEALTHTRONICS SURGICAL SVCS HTRN
HEALTHWATCH INC 3HEALE
HEMACARE CORP 3HEMA
HEMAGEN DIAGNOSTICS INC HMGN
HILLENBRAND IND-PRE FASB HB.F
HILLENBRAND INDUSTRIES HB
HOLOGIC INC HOLX
HORIZON MEDICAL PRODUCTS INC HMP
HUDSON RESPIRATORY CARE INC 0256B
HYCOR BIOMEDICAL INC HYBD
HYPERTENSION DIAGNOSTICS INC HDII
I-FLOW CORP IFLO
I-STAT CORP STAT
ICU MEDICAL INC ICUI
IGEN INC IGEN
ILLUMINA INC ILMN
IMAGING DIAGNOSTIC SYS INC 3IMDS
IMMUCOR INC BLUD
IMPLANT SCIENCES CORP IMX
INAMED CORP IMDC
INHALE THERAPEUTIC SYSTEMS INHL
INSITE VISION INC ISV
INSTRUMENTARIUM CP -ADR INMRY
INTEGRA LIFESCIENCES HLDGS IART
INTEGRATED SURGICAL SYS INC 3RDOC
INTERPORE INTERNATIONAL BONZ
INTL REMOTE IMAGING SYSTEMS IRI
INTUITIVE SURGICAL INC ISRG
INVACARE CORP IVC
INVERNESS MEDICAL INNOVATNS IMA
INVIVO CORP SAFE
IRIDEX CORP IRIX
IVAX DIAGNOSTICS INC IVD
KENSEY NASH CORP KNSY
KERAVISION INC 3KERA
KEWAUNEE SCIENTIFIC CP KEQU
KNOWLES ELECTRONIC HLDGS INC 0267B
KYPHON INC KYPH
L A M PHARMACEUTICAL CORP 3LAMP
LANCER ORTHODONTICS INC 3LANZ
LANGER INC GAIT
LASERSCOPE LSCP
LASERSIGHT INC LASE
LECTEC CORP LECT
LEXON INC 3LXXN
LIFECORE BIOMEDICAL INC LCBM
LIFEPOINT INC LFP
LIFESTREAM TECHNOLOGIES INC KFL
LONGPORT INC 3LPTI
LUMENIS LTD LUME
LUXOTTICA GROUP SPA -ADR LUX
MAGNA-LAB INC -CL A 3MAGLA
MAII HOLDINGS INC 3MAII
MAMMATECH CORP 3MAMH
MATRIXX INITIATIVES INC MTXX
MED-DESIGN CORP MEDC
MEDAMICUS INC MEDM
MEDICAL ACTION IND INC MDCI
MEDICAL DISCOVERIES INC 3MLSC
MEDICAL TECHNOLOGY SYS 3MDTY
MEDICALCV INC MDCVU
MEDISCIENCE TECHNOLOGY CORP 3MDSC
MEDISYS TECHNOLOGIES INC 3SCEPE
MEDJET INC 3MDJT
MEDSOURCE TECHNOLOGIES INC MEDT
MEDSTONE INTERNATIONAL INC MEDS
MEDTOX SCIENTIFIC INC TOX
MEDTRONIC INC MDT
MEDWAVE INC MDWV
MEMRY CORP MRY
MENTOR CORP MNTR
MERIDIAN BIOSCIENCE INC VIVO
MERIDIAN MEDICAL TECH INC MTEC
MERIT MEDICAL SYSTEMS INC MMSI
MESA LABORATORIES INC MLAB
MFIC CORP 3MFIC
MICRO THERAPEUTICS INC MTIX
MICROHELIX INC MHLX
MICROTEK MEDICAL HLDGS INC MTMD
MILESTONE SCIENTIFIC INC MS
MINE SAFETY APPLIANCES CO MSA
MOLECULAR DEVICES CORP MDCC
NATUS MEDICAL INC/DE BABY
NEOPROBE CORP 3NEOP
NETMED INC 3NTMD
NMT MEDICAL INC NMTI
NOMOS CORP -REDH NMOS
NON INVASIVE MONITOR 3NIMU
NORTH AMERN SCIENTIFIC INC NASI
NOVITRON INTL INC NOVI
NOVOSTE CORP NOVT
NUTRACEUTICAL INTL CP NUTR
NUTRITION 21 INC NXXI
O C G TECHNOLOGY INC 3OCGT
OCULAR SCIENCES INC OCLR
OPHTHALMIC IMAGING SYS INC 3OISI
OPTICAL SENSORS INC 3OPTL
ORTHOFIX INTERNATIONAL N V OFIX
ORTHOLOGIC CORP OLGC
ORTHOMETRIX INC 3OMRX
ORTHOVITA INC VITA
OSTEOTECH INC OSTE
PACE MEDICAL INC 3PMDL
PALOMAR MED TECHNOLOGIES INC PMTI
PARADIGM MEDICAL INDS INC PMED
PHARMANETICS INC PHAR
PHOENIX MEDICAL TECHNOLOGY 3PHXT
PHOTOELECTRON CORP PHX
PHOTOGEN TECHNOLOGIES INC PHGN
PHOTOMEDEX INC PHMD
PHYSIOMETRIX INC PHYX
PLC SYSTEMS INC PLC
POLYMEDICA CORP PLMD
POSITRON CORP 3POSC
POSSIS MEDICAL INC POSS
PRECISION OPTICS CORP INC/MA POCI
PRO-DEX INC/CO PDEX
PTS INC 3PTSO
QMED INC QMED
QUIDEL CORP QDEL
QUINTON CARDIOLOGY SYSTEM QUIN
REGENERATION TECH INC RTIX
REHABILICARE INC REHB
REPRO MEDSYSTEMS INC 3REPR
RESMED INC RMD
RESPIRONICS INC RESP
RETRACTABLE TECHNOLOGIES INC RVP
REUTER MANUFACTURING INC 3RTMFE
RITA MEDICAL SYSTEM INC RITA
ROCHESTER MEDICAL CORP ROCM
ROCKWELL MED TECHNOLOGIES RMTI
SAFETEK INTL INC 3SFII
SCANTEK MEDICAL INC 3SKML
SCHICK TECHNOLOGIES INC 3SCHK
SCIENTIFIC INDUSTRIES INC 3SCND
SEPRAGEN CORP -CL A 3SPGNA
SERACARE LIFE SCIENCES INC SRLS
SKINVISIBLE INC 3SKVI
SMITH & NEPHEW PLC -ADR SNN
SOLA INTL INC SOL
SOMANETICS CORP SMTS
SONIC INNOVATIONS INC SNCI
SONOSITE INC SONO
SONTRA MEDICAL CORP SONT
SPAN-AMERICA MEDICAL SYS INC SPAN
SPARTA SURGICAL CORP 3SPSGE
SPECIALIZED HEALTH PDS INTL 3SHPI
SPECTRAL DIAGNOSTICS INC DIAGF
SPECTRANETICS CORP SPNC
SPECTRASCIENCE 3SPSIQ
SPECTRUM LABORATORIES INC 3SPTM
SPECTRX INC SPRX
ST JUDE MEDICAL INC STJ
STAAR SURGICAL CO STAA
STERION INC STEN
STERIS CORP STE
STRYKER CORP SYK
SUNRISE TECHNOLOGY INTL INC 3SNRSE
SURG II INC 3SURG
SURGICAL LASER TECH INC SLTI
SURGICAL SAFETY PRODUCTS INC 3SSPD
SURMODICS INC SRDX
SWISSRAY INTERNATIONAL INC 3SRMIE
SYBRON DENTAL SPECIALTIES SYD
SYMPHONIX DEVICES INC SMPX
SYNOVIS LIFE TECH INC SYNO
TCPI INC 3TCPI
THERAGENICS CORP TGX
THERASENSE INC THER
THERMOELASTIC TECHNLG INC/CO 3TMRO
THORATEC CORP THOR
TRINITY BIOTECH -SPON ADR TRIB
TRIPATH IMAGING INC TPTH
TUTOGEN MEDICAL INC TTG
UNILENS VISION INC 3UVICF
UNIVEC INC 3UNVC
UROLOGIX INC ULGX
UROMED CORP 3URMD
UROPLASTY INC 3UPST
US GLOBAL AEROSPACE INC 3USGA
UTAH MEDICAL PRODUCTS INC UTMD
VALLEY FORGE SCIENTIFIC CORP VLFG
VARIAN MEDICAL SYTEMS INC VAR
VASCULAR SOLUTIONS INC VASC
VASOMEDICAL INC VASO
VENTANA MEDICAL SYSTEM INC VMSI
VIASYS HEALTHCARE INC VAS
VICON FIBER OPTICS CORP 3VFOX
VISION-SCIENCES INC VSCI
VISTA MED TECHNOLOGIES INC VMTI
VISX INC/DE EYE
VITAL SIGNS INC VITL
WEST PHARMACEUTICAL SVSC INC WST
WILSON GREATBATCH TECH INC GB
WORLD HEART CORP 3WHRTF
WRIGHT MEDICAL GROUP INC WMGI
WRP CORP WRPC
XTRANA INC 3XTRN
YOUNG INNOVATIONS INC YDNT
ZEVEX INTERNATIONAL INC ZVXI
ZIMMER HLDGS INC ZMH
ZOLL MEDICAL CORP ZOLL |
