68
TABLE 2.8
Summary of Bartlett Company Ratios (2001–2003, Including 2003 Industry Averages)
Evaluation
d
Industry
Cross-
Time-
Year
average
sectional
series
Ratio
Formula
2001
a
2002
b
2003
b
2003
c
2003
2001–2003
Overall
LiquidityCurrent ratio
2.04
2.08
1.97
2.05
OK
OK
OK
Quick (acid-test) ratio
1.32
1.46
1.51
1.43
OK
good
good
ActivityInventory turnover
5.1
5.7
7.2
6.6
good
good
good
Average collection period
43.9 days
51.2 days
58.9 days
44.3 days
poor
poor
poorAverage payment period
75.8 days
81.2 days
94.1 days
66.5 days
poor
poor
poor
Total asset turnover
0.94
0.79
0.85
0.75
OK
OK
OK
Debt Debt ratio
36.8%
44.3%
45.7%
40.0%
OK
OK
OK
Times interest earned ratio
5.6
3.3
4.5
4.3
good
OK
OK
Fixed-payment coverage ratio
2.4
1.4
1.9
1.5
good
OK
good
Earnings before interest and taxes
Lease payments
Int.
Lease pay.
{(Prin.
Pref. div.)
[1/(1
T
)]}
Earnings before interest and taxes
Interest
Total liabilitiesTotal assets
Sales
Total assets
Accounts payable
Average purchases per day
Accounts receivableAverage sales per day
Cost of goods sold
Inventory
Current assets
Inventory
Current liabilities
Current assets
Current liabilities