Recent Question/Assignment

You must use the following structure. Please remember that you do not discuss information in general. Must be specific and relevant to the ratios. If you are discussed too generally, I will definitely send you back to rectify. Also, you must read the attached readings as they are suggested by the lecturer to read to understand the current information about Qantas. Please do all the ratio calculations in the attached excel file. Most of ratios are already calculated.
No cover sheet and no table of contacts are required. Just follow the instructions that I have given to each questions below.
2000 words.
Executive Summary
Summary of – What is Qantas, what this paper will going to discuss, summary of ratios findings, results and conclusion and recommendations like is it a good company to invest etc.
1 Introduction
1.1 Background and Business - Qantas
2 Company Analysis
2.1 Financial statements, Current Financial performance, economic outlook
Discussion - (must refer the 2017 annual report,
Must refer 02nd page of annual report that discussed about financial performance.
And write Qantas economic outlook.- Read attached readings for further information.
3 Ratio Analysis
(Some of them are already calculated. So please calculate the highlighted ratios. Calculation must be done in the excel file attached herewith and copy the answer to the relevant column in this table)

3.1 Profitability and Market ratios
(see appendix for calculations) 2017 2016 Industry average
Return on assets 5% 6% 2.82%
Return on equity 25% 32% %
Return on invested capital 20.10% 22.70%
Net profit margin % % 5.48%
Gross Profit Margin 57% n/a
Expense ratio/Cost to Income ratio 91% 90% n/a
Cash return on sales % % n/a
Earnings per share $0.46 per share $0.494 per share n/a
Price earnings ratio 12.4 times 5.7 times n/a
Earnings yield 8% % n/a
Dividends per share $0.07 $0.07 n/a
Discussion – You must discuss all the above ratios and focused more on main and important ratios and on ratios that has changed noticeably from 2016 to 2017 and compared with industry average especially return on assets ratio. Remember we are analyzing 2017 financial report that compared the figures with 2016. Also, must talk what caused to change the ratio figures from 2016 to 2017 for example, expenses has increased due to this reason and that has impacted to change this ratio etc., and how it impacts to Qantas business - is it good or bad etc. so you have to be very specific and do not talk anything about what this ratio is, etc. therefore need to find information from attached readings and other relevant articles. In-text references are essential. If you find any information from Qantas annual report, in-text reference must be like this - (Qantas, 2017, P 2) so, page number must be included.
3.3 Efficiency ratios
(see appendix for calculations) 2017 2016 Industry average
Asset turnover times times n/a
Cash return on assets times times n/a
Fixed Asset turnover times times n/a
Discussion – Same as above instructions
3.3 Liquidity ratios
(see appendix for calculations) 2017 2016 Industry average
Current ratio 0.44:1 0.49:1 0.78:1
Quick ratio xx:1 xx:1
Discussion - Same as above instructions
3.4 Gearing ratios
(see appendix for calculations) 2017 2016 Industry average
Debt to equity ratio (calculated) 147% 173% 120%
Debt to equity ratio (reported) 125% 136%
Debt ratio % % 40%
Equity ratio % % n/a
Cash debt coverage 20% 21% n/a
Interest cover ratio 5.5 times 6.0 times n/a
Discussion - Same as above instructions
4 Recommendations and overall assessment
Discussion – please answer to those questions. Be specific.
1. Has 2017 been better than 2016 for QANTAS? (must relate to the ratios and discuss)
2. Will QANTAS succeed in the future? (must relate to the ratios and discuss)
3. The likelihood of a merger or acquisition?
4. Discuss relevant ethical considerations when an organisation becomes insolvent
5. The impact of the political competitive environment on the business
6. External factors that need to be taken into consideration
7. Suggest what should QANTAS be doing help it succeed? (must relate to the ratios and discuss)
8. Would you invest in this company? (must relate to the ratios and discuss)
Discuss all the above in relation to ratios and information from reports.

5 References/Bibliography

Appendices – attached Excel Spreadsheet
You do not need to attach the excel file here. So just complete the calculations in the excel file.

Editable Microsoft Word Document
Word Count: 2732 words including References

Editable Microsoft Excel Workbook
Worksheet Count: 4 worksheets

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