Financial Research Report: Google FIN 534 Financial Management Dr. Scott Shaw June 15, 2014
The paper will analyze a corporation to determine whether a financial advisor should recommend the company to an investor. The paper will, first, give the company background. Second, the paper will discuss the type of investor the company would appeal to. Third, the paper will go over the financial health of the company. Fourth, after analyzing the financial information, the paper will discuss the company risk. Fifth, the paper will discuss final recommendations as to whether the company is the right fit for the investor. Company Information Google, Incorporated was originally a search engine company founded 99, 2014). Current ratios are determined by dividing total assets by total liabilities (Brigham & Ehrhardt). 2011 2012 2013 52,758 / 8,913 = 5.9 60,454 / 14,337 = 4.2 72,886 / 15,908 = 4.6 Companies generally aim for a ratio of 1 to ensure their current assets can at least cover the short term obligations. Having a ratio greater than 1 gives the company a better contingency to be able to cover those obligations. The company started out with a high current ratio of 5.9 in 2011. This means, in 2011, the company was able to cover 5.9 times their short term obligations. It dropped down to 4.2 in 2012, but rose by .4 points in 2013. The drastic fluctuation may be due to the acquisition of Motorola Mobile in 2011 (Goldman, 2012). Both current assets and current liabilities would increase due to the increase of inventory and debt. The technology industry average current ratio is 2.33 (Reuters, n.d.). For all three years, the current ratio is almost twice the industry’s average. Due to the high current ratio, the company is not at risk of bankruptcy. Quick Ratios Quick ratios tell the investor what the company’s liquidity position is or how quickly it can be converted to cash at the going market price (Brigham & Ehrhardt). To calculate quick ratios the formula is current assets minus inventories divided by current liabilities. 2011 2012 2013 52,758 - 35 /8,913 = 5.9 60,454 – 505 /
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