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John Wilson jwwilson12 yahoo. It will include Apollo Group Inc's income statement, balance sheet, common sized income statement, and ratio analysis.
The report will also cover the company's earnings and how they have affected share price. It will conclude with the company's strengths and weakness based on the analysis Income Statement and Balance Sheet Within the industry, the trends stated are within the last few years are in the Apollo Group and the DeVry University that there are several changes that happened within The total revenues of Apollo Group are decreasing each year due to external factors such as low retention rates and government regulations on the educational systems.
After viewing these accounts, this shows that the Apollo Group has higher revenues, so when both of these companies lose the same amount of revenue that the Apollo Group will be better off.
Another trend that is leading the income and balance sheet on both of these industries is the minimal or zero long term debt because of high profit returns.
The DeVry had little to no debt within the last few years as well. This echoes the profitability that these schools receive in this industry and retaining their stature of being a for-profit school. There is only a few concerns to be worried about due to the high regulations and high drop-out rates, but can maintain profitability and assets due to strong investors and little debt.
The level of concern should not be of concern because of high earnings and turnout rate which increases from year to year. Common Sized Income Statement There are many concerns when looking at Apollo Group's common sized income statements over the past five years.
The company's revenues and income have been decreasing, while costs and expenses have been increasing. As seen in Exhibit 5, Apollo Group's net revenues have decreased This is a negative trend in the for-profit universities industry as government regulations have caused admissions standards to increase, in hopes that the number of loans defaulted on decreases and graduation rates increase.
Also shown in Exhibit 5, Apollo Group's total costs and expenses have increased by 4. Marketing expenses and admissions advisory costs have also arose in the past two years.
Marketing is now a necessity for for-profit universities as demand and enrollment have decreased, and admissions standards have increased because of government regulations, as a result, costs are much higher than in the past.
These increases in costs and expenses have also caused Apollo Group's operating income to decrease proportionately by 4. Furthermore, from toApollo Group's net income has decrease 1.
Clearly, the ability to make profits in the for-profit universities industry is decreasing. Apollo Group's top competitor, DeVry, is having the same issues with these negative changes in the industry.
As seen in Exhibit 6, DeVry's net income has decreased 4. Similarly to Apollo Group, this is a result of decreased revenues and increased costs and expenses. Over the past five years, the changes in Apollo Group's common sized income statements have been negatives ones and raise many reasons for concern.
Industry SIC Ratios for the past five years. It also compares third quarter ratios for Apollo for years and Exhibit 8 is a list of companies that are included in the industry averages on Exhibit 7.
Profitability Ratios As seen in Exhibit 7, Apollo's ROE for the last 5 years has been staggering compared to the industry, so there seems to be no structural flaws in the company.
Apollo's ROA is also head and shoulders above its industry average. Init had The Apollo Group's "gross profit margin for the second quarter of year is essentially unchanged when compared to the same period a year ago. Sales and net income have dropped, although the growth in revenues underperformed the average competitor within the industry, the net income growth did not" The Street Ratings: Asset Management Ratios Compared to the industry average Asset turnover of 1.
However, Apollo's working capital turnover has significantly decreased in as compared to prior years. Apollo's collection period has trended downward for the past five years from 24 to Therefore, the company collects receivables from its students sooner than its competitors.
Liquidity Ratios In reviewing Apollo's liquidity ratios over the past five years as compared to its industry it appears they are averaging around 1.
The second quarter shows a Quick Ratio of 1.Apollo Group Inc- Parent of the University of Phoenix was one to recognize and which aid the thriving market for educating working adults. With an aim to change the conventional higher education Sterling focused on the working adults and also hired teachers instead of full time working professors.
Apollo Education Group, Inc.
is an American corporation based in the South Phoenix area of Phoenix, Arizona. Apollo Group, Inc., through its subsidiaries, owns several for-profit educational institutions. University of Phoenix was founded in and is not only Apollo Group’s largest subsidiary, but also one of the largest private, accredited higher education institutes in the country.
The University operates ground campuses in over locations across the country, plus offers online programs globally. The Apollo Group Introduction: The Apollo Group is the leading name in for-profit education and adult education, with its stable of subsidiaries including Apollo Global, the College for Financial Planning, the Institute for Professional Development and, most notably, Phoenix University.
The Apollo Group Introduction: The Apollo Group is the leading name in for-profit education and adult education, with its stable of subsidiaries including Apollo Global, the College for Financial Planning, the Institute for Professional Development and, most notably, Phoenix University.
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