On April 25, beer behemoth Anheuser-Busch
- Scanning the numbers below, there's not a whole lot to get excited about. Volume was flat in the U.S., although international volume did increase 8.7%.
- EPS growth benefited from the company's ongoing share repurchase program.
-
Inside Value recommendation Anheuser-Busch has a three-star rating in Motley Fool CAPS. Boston Beer Co.
(NYSE:SAM) carries the same rating.
(Figures in millions, except per-share data)
Income Statement Highlights
|
Q1 2007 |
Q1 2006 |
Change |
|
|---|---|---|---|
|
Sales |
$3,858.4 |
$3,755.6 |
2.7% |
|
Net Profit |
$517.5 |
$499.2 |
3.7% |
|
EPS |
$0.67 |
$0.64 |
4.7% |
|
Diluted Shares |
773.3 |
780.2 |
(0.9%) |
Get back to basics with the income statement.
Margin Checkup
|
Q1 2007 |
Q1 2006 |
Change* |
|
|---|---|---|---|
|
Gross Margin |
35.9% |
35.6% |
0.2 |
|
Operating Margin |
18.6% |
19.2% |
(0.6) |
|
Net Margin |
13.4% |
13.3% |
0.1 |
Margins are the earnings engine.
Balance Sheet Highlights
|
Assets |
Q1 2007 |
Q1 2006 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$274.1 |
$212.5 |
29% |
|
Accounts Rec. |
$949.1 |
$873.0 |
8.7% |
|
Inventory |
$802.7 |
$707.7 |
13.4% |
|
Liabilities |
Q1 2007 |
Q1 2006 |
Change |
|---|---|---|---|
|
Accounts Payable |
$1,279.6 |
$1,170.9 |
9.3% |
|
Long-Term Debt |
$8,276.2 |
$8,127.4 |
1.8% |
The balance sheet reflects the company's health.
Cash Flow Highlights
|
Q1 2007 |
Q1 2006 |
Change |
|
|---|---|---|---|
|
Cash From Ops. |
$316 |
$447 |
(29.3%) |
|
Capital Expenditures |
$154.4 |
$159.1 |
(3%) |
|
Free Cash Flow |
$161.6 |
$287.9 |
(43.9%) |
Free cash flow is a Fool's best friend.
Related Foolishness:
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Fool by Numbers is designed to give you the raw earnings information in a timely fashion, putting all the numbers you need in one easy-to-read place. But at The Motley Fool, we believe numbers tell only part of the story, so check Fool.com for more of our in-depth discussion of what the numbers mean. This data has been provided by Netscribes. To provide feedback on this article, please click on the "feedback" button below.
