Reading annual report of #Wirecard ...let’s see what is says🤔
#Wirecard annual report pointers:
1
It had €3.3 bn cash and bank balance as at 9MF19... average yield on cash and bank balance is 0.3% since F10.
2. Alongwith increase in cash and bank balance over the years, company debt levels have also increased to €1.85 bn.
1
It had €3.3 bn cash and bank balance as at 9MF19... average yield on cash and bank balance is 0.3% since F10.
2. Alongwith increase in cash and bank balance over the years, company debt levels have also increased to €1.85 bn.
3. Cash and bank balance has grown at the rate of 37.6% CAGR, while debt has grown by over 60% CAGR since F10.
4. Asset turnover ratio has remained flat over last 10 years, indicates fictitious assets in the balance sheet.
5. Effective rate of depreciation has kept on increasing
4. Asset turnover ratio has remained flat over last 10 years, indicates fictitious assets in the balance sheet.
5. Effective rate of depreciation has kept on increasing
6. CFO/ EBDITA is not in sync, demostrate poor earning quality.
