target annual report analysis

Project Description:

this project requires you to analyze the target corporation's 2010 annual report and answer some questions about it.

proceed as follows to complete this task:

review the target corporation's 2010 annual report from the url given in this module (print pages 18 (financial summary) and 33-36 (from thier 10-k report)).
using the annual report, answer the following questions:

i. prepare a five-year horizontal analysis of target's sales and net earnings. use 2006 as
your base year 'and present the trended data in dollar and percentage form as illustrated on
pages 682-83 of the textbook. you will find this data on page 18 of target's annual report.
what insights are revealed by the data?

2. prepare a common-size balance sheet for the fiscal years ended january 29, 2011
and january 30, 2010 using the data on page 34 oftheir annual report. use the format
shown in exhibit 15-4 within the chapter.

3. calculate target's price-earnings ratio, dividend payout ratio, dividend yield ratio,
return on total assets, return on common stockholders' equity, and book value per share
for the fiscal year ended january 29, 2011. assume target's market price per share of
common stock was $55 as of january 31, 2011. you will find target's basic earnings per
share on page 33 of their annual report.

4. calculate target's working capital, current ratio, acid-test ratio, inventory turnover
ratio, and average sales period for their fiscal year ended january 31,2011.

5. calculate target's times interest earned ratio and debt-to-equity ratio for the fiscal
year ended january 31, 2011.

6. below are a few financial ratios for wal-mart stores, inc. for its fiscal year ended
january 31 , 2011. discuss how target's performance compares to wal-mart's.
gross margin percentage 24.7%
current ratio .89
acid-test ratio .21
average sales period 39.9 days
debt-to-equity ratio 1.53
price-earnings ratio 12.7
return on total assets 10.2%

7. which of the two companies would you rather invest int? why?

in addition, what five substantive questions would you like to ask the company's management about target's future?
write up your analysis in no more than 500 words. be sure to label your answers to correspond with the appropriate question in the text.


i will grade your submission based upon

the breadth, depth, and completeness of your analysis. (have you separated the few critically important factors from the many trivial factors?)
the soundness of your conclusions. (are they based on sound logical arguments supported by facts and figures? have you supported your conclusions with analysis and evidence? have you taken a stand and defended your position?)
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