Back in December, Quiksilver released its annual and quarterly earnings and held a conference call. I did the best analysis I could, but bitched and moaned because I didn’t have the complete 10K or the balance sheet. You can see that analysis here. Last week, the company issued its 10K. I’m not going to redo the analysis I did, but there’s a few pieces of interesting additional information I thought you’d want to see.
The Balance Sheet
To put it most simply, the October 31, 2011 balance sheet is almost unchanged from a year ago. The current ratio at 2.62 times is pretty much the same as last year. Total liabilities to equity have risen slightly from 1.74 to 1.83. Long-term debt, excluding the current portion, rose from $701 million to $725 million “…to fund higher working capital levels…” Total equity is up only a couple of million to $623 million.