Professional Documents
Culture Documents
FINANCIAL ANALYSIS
BALANCED SHEET
INCREASE (DECREASE)
ASSETS
2008
2007
Increase(Decrease)
Percentage
Current Assets
Cash and cash equivalents
1,207,342,389
875,927,694
331,414,695
37.84
Available-for-sale-investment
840,687,402
816,893,531
23,793,871
2.91
Receivables-Net
113,434,183
158,278,935
(44,844,752)
-28.33
Held-to-maturity investments
129,216,942
129,216,942
100.00
134,567,441
89,025,301
45,542,140
51.16
2,425,248,357
1,860,002,690
565,245,667
30.39
11,357,319
5,625,420
5,731,899
101.89
65,000,000
(65,000,000)
-100.00
Available-for-sale in investment
Equity Investments
88,941,889
(88,941,889)
-100.00
Investment property-Net
363,733,216
153,675,589
210,057,627
136.69
720,820,379
534,117,133
186,703,246
34.96
7,105,379
7,105,379
100.00
Held-to-Maturity investments
32,071,040
30,468,630
1,602,410
5.26
17,816,656
3,303,367
14,513,289
439.35
1,152,907,989
881,132,028
271,775,961
30.84
Total Assets
3,578,156,346
2,741,134,718
837,021,628
30.54
420,350,624
254,213,647
166,136,977
65.35
Deferred Income
24,287,583
24,287,583
100.00
Trust funds
76,162,222
76,162,222
100.00
1,895,782
1,895,782
100.00
54,676,608
39,978,593
14,698,015
36.76
577,372,819
294,192,240
283,180,579
96.26
104,781,284
(104,781,284)
-100.00
12,117,687
12,117,687
100.00
investment in an associate
Notes payable
Income Tax Payable
Total Current Liabilities
Non Current Liabilities
Trust funds
Deferred tax Liabilities
Notes payable
Total Non Current Liabilities
Total Liabilities
12,117,687
104,781,284
(92,663,597)
-88.44
589,490,506
398,973,524
190,516,982
47.75
704,369,900
704,369,900
0.00
5,461,069
(5,461,069)
-100.00
1,147,161,414
697,161,414
450,000,000
64.55
843,661,207
938,901,911
(95,240,704)
-10.14
1,233,243
1,233,243
100.00
(3,733,100)
(3,733,100)
0.00
Equity
Capital Stock
Net Unrealized gain on available-for-sale investment
Appropriated retained earnings
Unappropriated retained earnings
Accumulated Fair valur gains (losses)
Treasury stock
Non controlling interest
295,973,176
295,973,176
100.00
Total equity
2,988,665,840
2,342,161,194
646,504,646
27.60
3,578,156,346
2,741,134,718
837,021,628
30.54
BALANCED SHEET
INCREASE (DECREASE)
ASSETS
2009
2008
Increase(Decrease)
Percentage
Current Assets
Cash and cash equivalents
1,172,859,362
1,207,342,389
(34,483,027)
-2.86
Available-for-sale-investment
1,088,109,957
840,687,402
247,422,555
29.43
138,151,928
113,434,183
24,717,745
21.79
20,000,000
20,000,000
100.00
129,216,942
129,216,942
0.00
90,677,164
134,567,441
(43,890,277)
-32.62
2,639,015,353
2,425,248,357
213,766,996
8.81
9,228,791
11,357,319
(2,128,528)
-18.74
Available-for-sale in investment
Equity Investments
Investment property-Net
364,903,545
363,733,216
1,170,329
0.32
843,473,310
720,820,379
122,652,931
17.02
7,055,963
7,105,379
(49,416)
-0.70
32,071,040
(32,071,040)
-100.00
26,151,492
17,816,656
8,334,836
46.78
1,250,813,101
1,152,907,989
97,905,112
8.49
Total Assets
3,889,828,454
3,578,156,346
311,672,108
8.71
349,657,377
420,350,624
(70,693,247)
-16.82
Deferred Income
76,555,105
24,287,583
52,267,522
215.20
Trust funds
58,490,641
76,162,222
(17,671,581)
-23.20
3,103,359
1,895,782
1,207,577
63.70
48,721,315
54,676,608
(5,955,293)
-10.89
536,527,797
577,372,819
(40,845,022)
-7.07
13,170,629
12,117,687
1,052,942
8.69
Notes payable
10,327,238
10,327,238
100.00
23,497,867
12,117,687
11,380,180
93.91
560,025,664
589,490,506
(29,464,842)
-5.00
984,577,900
704,369,900
280,208,000
39.78
975,099,017
1,147,161,414
(172,062,397)
-15.00
1,068,447,399
843,661,207
224,786,192
26.64
(9,533,437)
1,233,243
(10,766,680)
-873.04
Receivables-Net
financial Assets at fair value through profit or loss
Held-to-maturity investments
real estate held for sale
Other Current Assets
Total Current Assets
Non Current Assets
Deferred Tax Assets
investment in an associate
Held-to-Maturity investments
Other non-current Assets
Notes payable
Income Tax Payable
Total Current Liabilities
Non Current Liabilities
Trust funds
Total Liabilities
Equity
Capital Stock
Net Unrealized gain on available-for-sale investment
Appropriated retained earnings
Unappropriated retained earnings
Accumulated Fair valur gains (losses)
Treasury stock
(3,733,100)
(3,733,100)
0.00
314,945,011
295,973,176
18,971,835
6.41
Total equity
3,329,802,790
2,988,665,840
341,136,950
11.41
3,889,828,454
3,578,156,346
311,672,108
8.71
BALANCED SHEET
INCREASE (DECREASE)
ASSETS
2010
2009
Increase(Decrease)
Percentage
Current Assets
Cash and cash equivalents
471,133,965
1,172,859,362
(701,725,397)
1,202,638,312
1,088,109,957
114,528,355
10.53
699,920,334
138,151,928
561,768,406
406.63
20,000,000
20,000,000
0.00
129,216,942
(129,216,942)
-100.00
90,852,883
90,677,164
175,719
0.19
2,484,545,494
2,639,015,353
(154,469,859)
-5.85
7,089,946
9,228,791
(2,138,845)
-23.18
218,774,500
218,774,500
121,313,489
121,313,489
Investment property-Net
184,474,138
364,903,545
(180,429,407)
-49.45
722,208,950
843,473,310
(121,264,360)
-14.38
investment in an associate
7,055,963
(7,055,963)
-100.00
Held-to-Maturity investments
2,765,208
26,151,492
(23,386,284)
-89.43
1,256,626,231
1,250,813,101
5,813,130
0.46
Total Assets
3,741,171,725
3,889,828,454
(148,656,729)
-3.82
416,781,486
349,657,377
67,124,109
19.20
56,263,568
56,263,568
100.00
Deferred Income
76,555,105
(76,555,105)
-100.00
Trust funds
58,490,641
(58,490,641)
-100.00
Notes payable
3,103,359
(3,103,359)
-100.00
45,878,467
48,721,315
(2,842,848)
-5.83
518,923,521
536,527,797
(17,604,276)
-3.28
Trust funds
13,170,629
(13,170,629)
-100.00
Notes payable
10,327,238
(10,327,238)
-100.00
23,497,867
(23,497,867)
-100.00
518,923,521
560,025,664
(41,102,143)
-7.34
984,577,900
984,577,900
0.00
1,675,099,017
975,099,017
700,000,000
71.79
558,446,825
1,068,447,399
(510,000,574)
-47.73
7,857,562
(9,533,437)
17,390,999
-182.42
(3,733,100)
(3,733,100)
0.00
Available-for-sale-investment
Receivables-Net
financial Assets at fair value through profit or loss
Held-to-maturity investments
real estate held for sale
Other Current Assets
Total Current Assets
-59.83
314,945,011
(314,945,011)
-100.00
Total equity
3,222,248,204
3,329,802,790
(107,554,586)
-3.23
3,741,171,725
3,889,828,454
(148,656,729)
-3.82
BALANCED SHEET
INCREASE (DECREASE)
ASSETS
2011
2010
Increase(Decrease)
Percentage
342,506,590
471,133,965
1,254,185,359
1,202,638,312
51,547,047
4.29
558,164,424
699,920,334
(141,755,910)
-20.25
8,456,381
8,456,381
100.00
Held-to-maturity investments
20,000,000
(20,000,000)
-100.00
28,798,292
90,852,883
(62,054,591)
-68.30
2,192,111,046
2,484,545,494
(292,434,448)
-11.77
7,250,042
7,089,946
160,096
2.26
394,489,204
218,774,500
175,714,704
80.32
Available-for-sale in investment
311,515,573
311,515,573
121,313,489
121,313,489
0.00
Investment property-Net
174,092,814
184,474,138
(10,381,324)
-5.63
841,991,794
722,208,950
119,782,844
16.59
investment in an associate
Held-to-Maturity investments
3,929,796
2,765,208
1,164,588
42.12
1,854,582,712
1,256,626,231
597,956,481
47.58
Total Assets
4,046,693,758
3,741,171,725
305,522,033
8.17
367,931,811
416,781,486
(48,849,675)
-11.72
52,694,576
56,263,568
(3,568,992)
-6.34
Deferred Income
Trust funds
Notes payable
47,712,327
45,878,467
1,833,860
4.00
468,338,714
518,923,521
(50,584,807)
-9.75
Trust funds
Notes payable
468,338,714
518,923,521
(50,584,807)
-9.75
984,577,900
984,577,900
0.00
1,853,733,100
1,675,099,017
178,634,083
10.66
723,126,299
558,446,825
164,679,474
29.49
20,650,845
7,857,562
12,793,283
162.81
Treasury stock
(3,733,100)
(3,733,100)
0.00
Total equity
3,578,355,044
3,222,248,204
356,106,840
11.05
4,046,693,758
3,741,171,725
305,522,033
8.17
Current Assets
Cash and cash equivalents
Available-for-sale-investment
Receivables-Net
financial Assets at fair value through profit or loss
(128,627,375)
-27.30
Equity Investments
BALANCED SHEET
INCREASE (DECREASE)
ASSETS
2012
2011
Increase(Decrease)
Percentage
421,846,871
342,506,590
79,340,281
23.16
1,612,888,940
1,254,185,359
358,703,581
28.60
758,811,847
558,164,424
200,647,423
35.95
8,456,381
(8,456,381)
-100.00
Held-to-maturity investments
29,853,986
28,798,292
1,055,694
3.67
2,823,401,644
2,192,111,046
631,290,598
28.80
9,424,385
7,250,042
2,174,343
29.99
114,610,613
394,489,204
(279,878,591)
-70.95
Available-for-sale in investment
335,300,863
311,515,573
23,785,290
7.64
147,313,489
121,313,489
26,000,000
21.43
Investment property-Net
163,711,490
174,092,814
(10,381,324)
-5.96
923,925,048
841,991,794
81,933,254
9.73
investment in an associate
Held-to-Maturity investments
3,929,796
3,929,796
0.00
1,707,215,684
1,854,582,712
(147,367,028)
-7.95
Total Assets
4,530,617,328
4,046,693,758
483,923,570
11.96
414,402,473
367,931,811
46,470,662
12.63
31,922,493
52,694,576
(20,772,083)
-39.42
Deferred Income
Trust funds
Notes payable
41,982,049
47,712,327
(5,730,278)
-12.01
488,307,015
468,338,714
19,968,301
4.26
Trust funds
Notes payable
488,307,015
468,338,714
19,968,301
4.26
1,376,863,400
984,577,900
392,285,500
39.84
1,718,503,100
1,853,733,100
(135,230,000)
-7.30
867,127,415
723,126,299
144,001,116
19.91
83,549,498
20,650,845
62,898,653
304.58
Treasury stock
(3,733,100)
(3,733,100)
0.00
Total equity
4,042,310,313
3,578,355,044
463,955,269
12.97
4,530,617,328
4,046,693,758
483,923,570
11.96
Current Assets
Cash and cash equivalents
Available-for-sale-investment
Receivables-Net
Equity Investments
Total Liabilities
Equity
Capital Stock
Net Unrealized gain on available-for-sale investment
Appropriated retained earnings
Unappropriated retained earnings
BALANCED SHEET
TREND ANALYSIS
2007 Trend%
2008 Trend %
2009 Trend %
2010 Trend %
2011 Trend %
2012 Trend %
100.00
137.84
133.90
53.79
39.10
48.16
Available-for-sale-investment
100.00
102.91
133.20
147.22
153.53
197.44
Receivables-Net
100.00
71.67
87.28
442.21
352.65
479.41
100.00
0.00
Held-to-maturity investments
100.00
100.00
100.00
100.00
0.00
0.00
0.00
100.00
151.16
101.86
102.05
32.35
33.53
100.00
130.39
141.88
133.58
117.86
151.80
100.00
201.89
164.06
126.03
128.88
167.53
100.00
0.00
0.00
336.58
606.91
176.32
100.00
107.64
100.00
100.00
121.43
ASSETS
Current Assets
Available-for-sale in investment
investment in subsidiaries, Associate and joint venture-net
Equity Investments
100.00
0.00
0.00
0.00
0.00
0.00
Investment property-Net
100.00
236.69
237.45
120.04
113.29
106.53
100.00
134.96
157.92
135.22
157.64
172.98
100.00
99.30
0.00
0.00
0.00
Held-to-Maturity investments
100.00
105.26
0.00
0.00
0.00
0.00
100.00
539.35
791.66
83.71
118.96
118.96
100.00
130.84
141.96
142.61
210.48
193.75
TOTAL ASSETS
100.00
130.54
141.91
136.48
147.63
165.28
100.00
165.35
137.54
163.95
144.73
163.01
100.00
93.66
56.74
Deferred Income
100.00
315.20
0.00
0.00
0.00
Trust funds
100.00
76.80
0.00
0.00
0.00
Notes payable
100.00
163.70
0.00
0.00
0.00
100.00
136.76
121.87
114.76
119.34
105.01
100.00
196.26
182.37
176.39
159.19
165.98
Trust funds
100.00
0.00
0.00
0.00
0.00
0.00
100.00
100.00
108.69
0.00
0.00
0.00
Notes payable
100.00
0.00
0.00
0.00
0.00
0.00
100.00
11.56
22.43
0.00
0.00
0.00
Total Liabilities
100.00
147.75
140.37
130.06
117.39
122.39
Capital Stock
100.00
100.00
139.78
139.78
139.78
195.47
100.00
0.00
0.00
0.00
0.00
0.00
100.00
164.55
139.87
240.27
265.90
246.50
100.00
89.86
113.80
59.48
77.02
92.36
100.00
-773.04
637.15
1674.52
6774.78
100.00
100.00
100.00
100.00
100.00
100.00
100.00
106.41
0.00
0.00
0.00
Total equity
100.00
127.60
142.17
137.58
152.78005
172.59
100.00
130.54
141.91
136.48
147.63
165.28
investment in an associate
Equity
BALANCED SHEET
COMMON-SIZE ANALYSIS
ASSESTS
2007
2008
2009
2010
2011
2012
Current Assets
Cash and cash equivalents
31.95
33.74
30.15
12.59
8.46
9.31
Available-for-sale-investment
29.80
23.49
27.97
32.15
30.99
35.60
5.77
3.17
3.55
18.71
13.79
16.75
0.21
Held-to-maturity investments
0.51
0.53
3.61
3.32
3.25
3.76
2.33
2.43
0.71
0.66
67.86
67.78
67.84
66.41
54.17
62.32
0.21
0.32
0.24
0.19
0.18
0.21
Receivables-Net
5.85
9.75
2.53
Available-for-sale in investment
7.70
7.40
3.24
3.00
Equity Investments
3.24
Investment property-Net
5.61
10.17
9.38
4.93
4.30
3.61
19.49
20.15
21.68
19.30
20.81
20.39
0.20
0.18
Held-to-Maturity investments
1.11
0.90
0.12
0.50
0.67
0.07
0.10
0.09
32.14
32.22
32.16
33.59
45.83
37.68
100.00
100.00
100.00
100.00
100.00
100.00
9.27
11.75
8.99
11.14
9.09
9.15
1.50
1.30
0.70
Deferred Income
0.68
1.97
Trust funds
2.13
1.50
Notes payable
0.05
0.08
1.46
1.53
1.25
1.23
1.18
0.93
0.11
16.14
13.79
13.87
11.57
10.78
3.82
0.34
0.34
Notes payable
0.27
3.82
0.34
0.60
14.56
16.47
14.40
13.87
11.57
10.78
25.70
19.69
25.31
26.32
24.33
30.39
0.20
25.43
32.06
25.07
44.77
45.81
37.93
34.25
23.58
27.47
14.93
17.87
19.14
0.03
(0.25)
0.21
0.51
1.84
(0.10)
(0.10)
(0.10)
(0.09)
(0.08)
8.27
8.10
85.44
83.53
85.60
86.13
88.43
89.22
100.00
100.00
100.00
100.00
100.00
100.00
(0.14)
INCOME STATEMENT
INCREASE (DECREASE)
2008
2007
Increase(Decrease)
Percentage
REVENUES
EDUCATIONAL INCOME
Tuition fees - Net
Other School Fees
1,580,683,033
33,146,510
Miscellaneous
Rental
1,565,968,902
OPERATING INCOME
0.94
33,146,510
30,085,666
41,289,534
(30,085,666)
-100.00
41,289,534
14,714,131
1,655,119,077
1,596,054,568
59,064,509
3.70
(1,077,236,959)
(1,055,438,924)
(21,798,035)
2.07
577,882,118
540,615,644
37,266,474
6.89
OTHER INCOME
Gain on sale of Investment Property
Finance Income
106,418,765
106,418,765
Management Fees
20,145,930
20,145,930
Finance Cost
(5,431,506)
(5,431,506)
(24,732)
(24,732)
63,728,662
(63,728,662)
-100.00
7,803,472
(7,803,472)
-100.00
42,011,777
(42,011,777)
-100.00
6,141,440
(6,141,440)
-100.00
2,362,837
TOTAL
123,471,294
701,353,412
2,362,837
119,685,351
3.16
701,353,412
PREACQUISITION INCOME
INCOME BEFORE INCOME TAX
3,785,943
701,353,412
660,300,995
41,052,417
6.22
87,546,984
56,773,943
30,773,041
54.20
613,806,428
603,527,052
10,279,376
1.70
1,176,093
100.00
(5,514,166)
-100.00
(4,338,073)
-100.00
609,468,355
INCOME STATEMENT
INCREASE (DECREASE)
2009
2008
Increase(Decrease)
PERCENTAGE
REVENUES
EDUCATIONAL INCOME
Tuition fees - Net
Other School Fees
1,611,808,467
1,580,683,033
31,125,434
1.97
50,280,810
33,146,510
17,134,300
51.69
Miscellaneous
Rental
50,437,726
41,289,534
9,148,192
-
1,712,527,003
1,655,119,077
57,407,926
3.47
1,166,169,195
(1,077,236,959)
2,243,406,154
-208.26
546,357,808
577,882,118
(31,524,310)
-5.46
OTHER INCOME
Finance Income
Management Fees
120,856,838
106,418,765
14,438,073
13.57
11,527,024
20,145,930
(8,618,906)
-42.78
(5,431,506)
5,431,506
-100.00
(24,732)
(24,684)
99.81
Finance Cost
Share in net losses of an associate
(49,416)
Interest Income
Rental
Miscellaneous
Others
22.16
13,597,675
2,362,837
11,234,838
475.48
TOTAL
145,932,121
123,471,294
22,460,827
18.19
692,289,929
701,353,412
(9,063,483)
-1.29
PREACQUISITION INCOME
INCOME BEFORE INCOME TAX
INCOME TAX EXPENSE
NET INCOME
3,999,262
3,999,262
696,289,191
701,353,412
(5,064,221)
-0.72
86,995,739
87,546,984
(551,245)
-0.63
609,293,452
613,806,428
(4,512,976)
-0.74
(8,016,082)
1,176,093
(9,192,175)
-781.59
(2,750,598)
(5,514,166)
2,763,568
-50.12
(10,766,680)
(4,338,073)
(6,428,607)
148.19
598,526,772
609,468,355
(10,941,583)
-1.80
INCOME STATEMENT
INCREASE (DECREASE)
2010
2009
Increase(Decrease)
Percentage
REVENUES
EDUCATIONAL INCOME
Tuition fees - Net
Other School Fees
1,809,269,082
1,611,808,467
197,460,615
12.25
35,257,665
50,280,810
(15,023,145)
-29.88
Miscellaneous
Rental
50,437,726
(50,437,726)
-100.00
1,844,526,747
1,712,527,003
131,999,744
7.71
1,322,781,293
1,166,169,195
156,612,098
13.43
521,745,454
546,357,808
(24,612,354)
-4.50
OTHER INCOME
Gain on sale of Investment Property
Finance Income
Management Fees
Finance Cost
113,408,092
120,856,838
(7,448,746)
-6.16
14,080,414
11,527,024
2,553,390
22.15
(25,518,419)
(25,518,419)
(49,416)
49,416
Interest Income
Rental
39,179,482
-100.00
39,179,482
Miscellaneous
Others
8,232,332
13,597,675
(5,365,343)
-39.46
TOTAL
149,381,901
145,932,121
3,449,780
2.36
692,289,929
(692,289,929)
-100.00
3,999,262
(3,999,262)
-100.00
671,127,355
696,289,191
(25,161,836)
-3.61
76,705,960
86,995,739
(10,289,779)
-11.83
594,421,395
609,293,452
(14,872,057)
-2.44
17,390,999
(8,016,082)
25,407,081
-316.95
(2,750,598)
2,750,598
-100.00
17,390,999
(10,766,680)
28,157,679
-261.53
611,812,394
598,526,772
13,285,622
2.22
INCOME STATEMENT
INCREASE (DECREASE)
2010
2011
Increase(Decrease)
Percentage
REVENUES
EDUCATIONAL INCOME
Tuition fees - Net
Other School Fees
1,809,269,082
1,940,687,592
131,418,510
7.26
35,257,665
34,242,601
(1,015,064)
-2.88
Miscellaneous
Rental
1,844,526,747
1,974,930,193
130,403,446
7.07
1,322,781,293
1,451,911,734
129,130,441
9.76
521,745,454
523,018,459
1,273,005
0.24
OTHER INCOME
Finance Income
Management Fees
Finance Cost
113,408,092
170,798,293
57,390,201
50.61
14,080,414
18,303,571
4,223,157
29.99
(25,518,419)
(42,137,064)
(16,618,645)
65.12
Interest Income
Rental
39,179,482
48,184,478
Miscellaneous
Others
TOTAL
9,004,996
22.98
8,232,332
6,030,925
(2,201,407)
-26.74
149,381,901
201,180,203
51,798,302
34.68
671,127,355
724,198,662
53,071,307
7.91
76,705,960
86,631,665
9,925,705
12.94
NET INCOME
594,421,395
637,566,997
7.26
17,390,999
12,793,283
43,145,602
(4,597,716)
-26.44
17,390,999
12,793,283
(4,597,716)
-26.44
611,812,394
650,360,280
38,547,886
6.30
INCOME STATEMENT
INCREASE (DECREASE)
2012
2011
Increase(Decrease)
PERCENTAGE
REVENUES
EDUCATIONAL INCOME
Tuition fees - Net
Other School Fees
2,006,269,518
1,940,687,592
65,581,926
3.38
35,545,655
34,242,601
1,303,054
3.81
Miscellaneous
Rental
2,041,815,173
1,974,930,193
66,884,980
3.39
1,501,971,010
1,451,911,734
50,059,276
3.45
539,844,163
523,018,459
16,825,704
3.22
OTHER INCOME
Gain on sale of Investment Property
Finance Income
Management Fees
Finance Cost
224,891,416
170,798,293
54,093,123
31.67
47,857,409
18,303,571
29,553,838
161.46
(74,467,660)
(42,137,064)
(32,330,596)
76.73
Interest Income
Rental
63,630,627
48,184,478
Miscellaneous
Others
total
15,446,149
-
8,340,883
6,030,925
2,309,958
38.30
270,252,675
201,180,203
69,072,472
34.33
PREACQUISITION INCOME
32.06
810,096,838
724,198,662
85,898,176
11.86
97,085,446
86,631,665
10,453,781
12.07
713,011,392
637,566,997
75,444,395
11.83
62,898,653
12,793,283
50,105,370
391.65
62,898,653
12,793,283
50,105,370
391.65
775,910,045
650,360,280
125,549,765
19.30
INCOME STATEMENT
TREND ANALYSIS
2006
2007
2008
2009
2010
2011
2012
100.00
110.42
111.46
113.65
127.57
136.84
141.46
100.00
151.69
106.37
103.31
107.24
100.00
136.35
0.00
0.00
0.00
0.00
0.00
100.00
122.16
0.00
0.00
0.00
Total
100.00
110.82
114.92
118.90
128.07
137.12
141.77
100.00
112.91
115.24
-124.75
-141.51
-155.32
-160.68
OPERATING INCOME
100.00
106.95
114.32
108.08
103.21
103.46
106.79
Finance Income
100.00
113.57
106.57
160.50
211.33
Management Fees
100.00
57.22
69.89
90.85
237.55
Finance Cost
100.00
0.00
469.82
775.79
1371.03
100.00
199.81
0.00
0.00
0.00
Interest Income
100.00
75.31
0.00
0.00
0.00
0.00
0.00
100.00
0.00
0.00
0.00
0.00
0.00
0.00
Rental
100.00
193.56
0.00
0.00
180.51
222.00
293.16
Miscellaneous
100.00
47.97
0.00
0.00
0.00
0.00
0.00
100.00
575.48
348.41
255.24
353.00
100.00
100.47
103.65
122.50
125.40
168.88
226.86
100.00
98.71
0.00
0.00
0.00
PREACQUISITION INCOME
100.00
0.00
0.00
0.00
100.00
105.71
112.28
111.47
107.44
115.94
129.69
100.00
101.89
157.12
156.13
137.67
155.48
174.24
NET INCOME
100.00
106.08
107.89
107.10
104.48
112.07
125.33
100.00
-681.59
1478.71
1087.78
5348.10
100.00
49.90
0.00
0.00
0.00
100.00
248.19
-400.89
-294.91
-1449.92
100.00
98.2047
100.385
106.71
127.31
REVENUES
EDUCATIONAL INCOME
Tuition fees - Net
Other School Fees
Miscellaneous
Rental
OTHER INCOME
Others
Total
INCOME STATEMENT
COMMON-SIZE ANALYSIS
2006
2007
2008
2009
2010
2011
2012
REVENUES
EDUCATIONAL INCOME
Tuition fees - Net
100.00
100.00
100.00
100.00
100.00
100.00
100.00
2.10
3.12
1.95
1.76
1.77
1.56
1.92
2.61
3.13
101.56
101.92
104.71
106.25
101.95
101.76
101.77
65.91
67.40
68.15
72.35
73.11
74.81
74.86
OPERATING INCOME
35.64
34.52
36.56
33.90
28.84
26.95
26.91
Finance Income
6.73
7.50
6.27
8.80
11.21
Management Fees
1.27
0.72
0.78
0.94
2.39
Finance Cost
(0.34)
(1.41)
(2.17)
(3.71)
(0.00)
(0.00)
5.97
4.07
0.50
Rental
1.53
2.68
2.17
2.48
3.17
Miscellaneous
0.90
0.39
0.15
0.84
0.46
0.31
0.42
8.40
7.64
7.81
9.05
8.26
10.37
13.47
44.37
42.95
PREACQUISITION INCOME
0.25
44.04
44.37
43.20
37.09
37.32
40.38
3.93
5.54
5.40
4.24
4.46
4.84
40.11
38.54
38.83
37.80
32.85
32.85
35.54
0.07
(0.50)
0.96
0.66
3.14
(0.35)
(0.17)
(0.27)
(0.67)
0.96
0.66
3.14
38.56
37.13
33.82
33.51
38.67
OTHER INCOME
Interest Income
Other Finance Income on Available-for-sale Investment
Others
TOTAL
2007
Current Ratio
2008
2009
6.32
4.20
4.92
875,927,694.40
1,207,342,389.19
1,172,859,362.25
1,565,810,450.00
1,847,875,538.00
2,102,487,556.00
0.57
0.52
0.54
1,565,968,902.00
158,278,935.00
9.89
1,580,683,033.00
135,856,559.00
11.63
1,611,808,467.00
125,793,055.50
12.81
36.89
31.37
28.49
Debt Ratio
0.15
0.16
0.14
Debt to Equity
0.17
0.20
0.17
0.36
0.38
0.38
0.44
0.42
0.44
568,910,356.00
2,741,134,718.00
0.21
603,527,052.00
4,948,723,705.00
0.12
613,806,428.00
5,678,906,627.00
0.11
2010
Current Ratio
2011
2012
4.79
4.68
5.78
471,133,966.35
342,506,591.19
421,846,872.55
1,965,621,973.00
1,723,772,332.00
2,335,094,629.00
0.53
0.43
0.52
1,809,269,082.00
419,036,131.00
4.32
1,940,687,592.00
629,042,379.00
3.09
2,006,269,518.00
658,488,135.50
3.05
84.54
118.31
119.80
Debt Ratio
0.14
0.12
0.11
Debt to Equity
0.16
0.13
0.12
0.34
0.31
0.32
0.43
0.37
0.37
609,293,452.00
5,686,085,952.00
0.11
594,421,395.00
5,917,279,620.50
0.10
637,566,997.00
6,553,964,207.00
0.10
2007
2006
660,300,995.00
624,629,443.00
44,048,226.00
28,071,164.00
12,686,351.00
10,939,753.00
3,703,946.00
(4,543,651.00)
(63,728,662.00)
(84,618,420.00)
Adjustments for:
(7,803,472.00)
(102,083.00)
-
(1,189,778.00)
13,373,107.00
649,105,301.00
586,661,618.00
Receivables
12,692,473.00
(52,779,807.00)
(1,387,663.00)
(9,399,435.00)
1,162,734.00
58,531,810.00
(27,347,214.00)
661,572,845.00
555,666,972.00
Interests Received
73,852,691.00
84,618,420.00
(55,041,312.00)
(45,776,440.00)
680,384,224.00
594,508,952.00
(2,565,486.00)
(189,621,582.00)
(466,849,424.00)
18,512,459.00
28,771,625.00
(29,612,764.00)
(19,703,753.00)
424,074.00
175,000.00
1,230,753.00
(460,172,038.00)
(199,067,060.00)
(175,162,650.00)
(112,107,408.00)
18,958,605.00
18,427,630.00
(156,204,045.00)
(93,679,778.00)
(3,703,946.00)
5,426,061.00
60,304,195.00
307,188,175.00
815,623,499.00
508,435,324.00
875,927,694.00
815,623,499.00
Other assets
Held to maturity investments
Proceeds from the disposal of property and equipment
Net cash used in investing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Dividends paid
Increase (Decrease) in trust funds
Net cash used in financing activities
2009
696,289,191.00
2008
701,353,412.00
Adjustment for:
Gain on sale of investment property
Interest Income
(117,819,106.00)
(106,418,765.00)
Depreciation
52,944,002.00
46,899,496.00
(3,037,732.00)
4,747,861.00
49,416.00
24,732.00
(3,999,262.00)
(726,424.00)
2,842,069.00
623,700,085.00
649,448,805.00
Increase in receivables
(16,276,113.00)
(3,060,882.00)
59,603,214.00
31,588,975.00
(105,926,543.00)
(13,086,542.00)
51,897,736.00
52,267,222.00
16,722,873.00
(17,671,581.00)
(25,109,062.00)
660,522,346.00
643,576,141.00
(86,924,696.00)
(78,126,826.00)
573,597,650.00
565,449,315.00
(15,723,242.00)
(96,147,971.00)
(147,865,321.00)
(108,533,445.00)
(258,189,235.00)
Interest received
109,929,197.00
(13871477
87,525,308.00
726,424.00
12,071,040.00
257,510.00
(299,051,137.00)
(130,770,075.00)
(309,875,665.00)
(194,554,457.00)
(2,191,607.00)
(1,753,954.00)
(312,067,272.00)
(196,308,411.00)
3,037,732.00
(6,607,781.00)
(34,483,027.00)
231,763,048.00
1,207,342,389.00
975,579,341.00
1,172,859,362.00
1,207,342,389.00
2012
810,096,838.00
2011
724,198,662.00
2010
671,127,355.00
(224,891,416.00)
98,466,077.00
9,602,353.00
12,601,630.00
705,875,482.00
(83,692,315.00)
(1,055,693.00)
42,203,611.00
(20,772,083.00)
642,559,002.00
(104,990,067.00)
537,568,935.00
(162,341,912.00)
87,078,727.00
(8,456,381.00)
3,772,225.00
644,251,321.00
(21,209,972.00)
60,890,003.00
28,084,152.00
(3,568,992.00)
708,446,512.00
(84,957,901.00)
623,488,611.00
(113,408,092.00)
68,603,195.00
3,482,984.00
629,805,442.00
(86,959,370.00)
7,673,184.00
30,230,458.00
(19,235,581.00)
561,514,133.00
(75,832,382.00)
485,681,751.00
(332,201,233.00)
207,832,273.00
(179,018,007.00)
92,500,000.00
81,087,261.00
(19,604,637.00)
(149,404,343.00)
(35,351,373.00)
147,034,401.00
(196,480,247.00)
312,968,845.00
(310,410,156.00)
20,000,000.00
(380,400,894.00)
(112,137,356.00)
11,075,785.00
(163,952,035.00)
(477,000,000.00)
(118,774,500.00)
(6,250,000.00)
(76,356,106.00)
(308,833,696.00)
(371,187,267.00)
(365,479,906.00)
9,385.00
79,340,281.00
342,506,590.00
(527,825.00)
(128,627,375.00)
471,133,965.00
(3,482,984.00)
(650,637,245.00)
1,112,171,210.00
421,846,871.00
342,506,590.00
471,133,965.00