RECENT POSTS
Monday, January 21, 2019
Differences in Earnings Releases and 10-Ks

Wednesday, January 16, 2019
The Importance of Textual Analysis

Tuesday, January 8, 2019
A Look at Climate Change Disclosures

Wednesday, January 2, 2019
Quants: Point-in-Time Data for Backtesting

Friday, December 28, 2018
Now Showing: Controls & Procedures

Thursday, December 27, 2018
A Reminder on Non-GAAP Reporting Rules

Monday, December 17, 2018
Researching PG&E’s Wildfire Risk

Wednesday, December 12, 2018
Tracking Brexit Disclosures

Thursday, December 6, 2018
Campbell Soup: Looking Behind the Label

Sunday, December 2, 2018
SEC Comment Letters: The Amazon Example

Wednesday, November 28, 2018
Measuring Big Pharma’s Chemical Dependency

Monday, November 26, 2018
Analysts, Can You Relate? A True Story

Monday, November 19, 2018
Digging Up Historical Trend Data: Quest Example

Sunday, November 11, 2018
Cost of Revenue, SG&A: Q3 Update

Monday, November 5, 2018
Lease Accounting: FedEx vs. UPS

Saturday, November 3, 2018
New Email Alerting Powers

Wednesday, October 31, 2018
PTC and Two Tales of Revenue

Tuesday, October 30, 2018
10-K/Q Section Text Change Detection

Sunday, October 28, 2018
Finding Purchase Price Allocation

Sunday, October 21, 2018
Charting Netflix Growth in Three Ways

Archive  |  Search:
Q3 Wrapup: Macro through Micro
Monday, November 25, 2013

With most of our universe finished reporting for the third quarter, we decided to write a very quick 3rd quarter 2013 economic summary.  We first decided to eliminate financial firms from our initial analysis. Calcbench intends to publish a 3rd quarter financial sector summary separately in the next week or two.   

By using our normalized database, we took a look at four metrics:  Revenues, Cost of revenues, Capital Expenditures (Capex) and Cash (on the balance sheet).  We binned our universe into 3 groups by asset size.  Firms with assets greater than or equal to 3 billion USD were in one group (aka large), the 1 Billion to 3 billion group (mid size) and the firms with assets between 50M USD and 1 Billion (small). 

You will notice the negative sales growth figures from the third quarter 2013 versus the year ago third quarter.  Also notice that the average cost of revenue was decreasing faster than the sales growth leading to higher gross profits, on average.  All the while cash is increasing on the balance sheets!  Maybe more share buybacks are in order?

Also notice something that is troubling.  The Capital expenditures for mid to large companies are generally increasing, but the small companies are lagging.  In general this is not a good sign. 

All of this work was done using Calcbench’s normalized XBRL database that is available through a subscription.  For more email us@calcbench.com.

image


FREE Calcbench Premium
Two Week Trial

Research Financial & Accounting Data Like Never Before. More features and try our Excel add-in. Sign up now to try the Premium Suite.