Comparative Analysis Case adidas and Puma The financial statements of adidas (DEU) and Puma (DEU) are presented in Appendices B and C, respectively.

The complete annual reports, including the notes to the financial statements, are available online.

Instructions Use the companies’ financial statements to answer the following questions.

(a) What is the par or stated value of adidas’s and Puma’s ordinary shares?

(b) How many shares were issued by adidas and Puma at December 31, 2012?

(c) How many shares are held as treasury shares by adidas at December 31, 2012, and by Puma at December 31, 2012?

(d) How many adidas ordinary shares are outstanding at December 31, 2012? How many Puma ordinary shares are outstanding at December 29, 2012?

(e) What amounts of cash dividends per share were declared by adidas and Puma in 2012? What were the monetary amount effects of the cash dividends on each company’s equity?

(f) What are adidas’s and Puma’s return on equity for 2012 and 2011? Which company gets the higher return on the equity of its shareholders?
(g) What are adidas’s and Puma’s payout ratios for 2012?