Stock Analysis on Net

Allergan Inc. (NYSE:AGN.)

This company has been moved to the archive! The financial data has not been updated since February 19, 2015.

Analysis of Investments

Microsoft Excel

Adjustment to Net Income (Loss): Mark to Market Available-for-sale Securities

Allergan Inc., adjustment to net earnings attributable to Allergan, Inc.

US$ in thousands

Microsoft Excel
12 months ended: Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011 Dec 31, 2010
Net earnings attributable to Allergan, Inc. (as reported) 1,524,200 985,100 1,098,800 934,500 600
Add: Unrealized holding gain on available-for-sale securities, net of tax 5,800
Net earnings attributable to Allergan, Inc. (adjusted) 1,530,000 985,100 1,098,800 934,500 600

Based on: 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31).


Adjusted Profitability Ratios: Mark to Market Available-for-sale Securities (Summary)

Allergan Inc., adjusted profitability ratios

Microsoft Excel
Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011 Dec 31, 2010
Net Profit Margin
Reported net profit margin 21.39% 15.90% 19.25% 17.48% 0.01%
Adjusted net profit margin 21.47% 15.90% 19.25% 17.48% 0.01%
Return on Equity (ROE)
Reported ROE 19.66% 15.24% 18.82% 17.60% 0.01%
Adjusted ROE 19.73% 15.24% 18.82% 17.60% 0.01%
Return on Assets (ROA)
Reported ROA 12.28% 9.32% 11.97% 10.98% 0.01%
Adjusted ROA 12.32% 9.32% 11.97% 10.98% 0.01%

Based on: 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31).

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by revenue. Allergan Inc. adjusted net profit margin ratio deteriorated from 2012 to 2013 but then improved from 2013 to 2014 exceeding 2012 level.
Adjusted ROE A profitability ratio calculated as adjusted net income divided by shareholders’ equity. Allergan Inc. adjusted ROE deteriorated from 2012 to 2013 but then improved from 2013 to 2014 exceeding 2012 level.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by total assets. Allergan Inc. adjusted ROA deteriorated from 2012 to 2013 but then improved from 2013 to 2014 exceeding 2012 level.

Allergan Inc., Profitability Ratios: Reported vs. Adjusted


Adjusted Net Profit Margin

Microsoft Excel
Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011 Dec 31, 2010
As Reported
Selected Financial Data (US$ in thousands)
Net earnings attributable to Allergan, Inc. 1,524,200 985,100 1,098,800 934,500 600
Product net sales 7,126,100 6,197,500 5,708,800 5,347,100 4,819,600
Profitability Ratio
Net profit margin1 21.39% 15.90% 19.25% 17.48% 0.01%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in thousands)
Adjusted net earnings attributable to Allergan, Inc. 1,530,000 985,100 1,098,800 934,500 600
Product net sales 7,126,100 6,197,500 5,708,800 5,347,100 4,819,600
Profitability Ratio
Adjusted net profit margin2 21.47% 15.90% 19.25% 17.48% 0.01%

Based on: 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31).

2014 Calculations

1 Net profit margin = 100 × Net earnings attributable to Allergan, Inc. ÷ Product net sales
= 100 × 1,524,200 ÷ 7,126,100 = 21.39%

2 Adjusted net profit margin = 100 × Adjusted net earnings attributable to Allergan, Inc. ÷ Product net sales
= 100 × 1,530,000 ÷ 7,126,100 = 21.47%

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by revenue. Allergan Inc. adjusted net profit margin ratio deteriorated from 2012 to 2013 but then improved from 2013 to 2014 exceeding 2012 level.

Adjusted Return on Equity (ROE)

Microsoft Excel
Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011 Dec 31, 2010
As Reported
Selected Financial Data (US$ in thousands)
Net earnings attributable to Allergan, Inc. 1,524,200 985,100 1,098,800 934,500 600
Total Allergan, Inc. stockholders’ equity 7,753,000 6,463,200 5,837,100 5,309,600 4,757,700
Profitability Ratio
ROE1 19.66% 15.24% 18.82% 17.60% 0.01%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in thousands)
Adjusted net earnings attributable to Allergan, Inc. 1,530,000 985,100 1,098,800 934,500 600
Total Allergan, Inc. stockholders’ equity 7,753,000 6,463,200 5,837,100 5,309,600 4,757,700
Profitability Ratio
Adjusted ROE2 19.73% 15.24% 18.82% 17.60% 0.01%

Based on: 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31).

2014 Calculations

1 ROE = 100 × Net earnings attributable to Allergan, Inc. ÷ Total Allergan, Inc. stockholders’ equity
= 100 × 1,524,200 ÷ 7,753,000 = 19.66%

2 Adjusted ROE = 100 × Adjusted net earnings attributable to Allergan, Inc. ÷ Total Allergan, Inc. stockholders’ equity
= 100 × 1,530,000 ÷ 7,753,000 = 19.73%

Profitability ratio Description The company
Adjusted ROE A profitability ratio calculated as adjusted net income divided by shareholders’ equity. Allergan Inc. adjusted ROE deteriorated from 2012 to 2013 but then improved from 2013 to 2014 exceeding 2012 level.

Adjusted Return on Assets (ROA)

Microsoft Excel
Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011 Dec 31, 2010
As Reported
Selected Financial Data (US$ in thousands)
Net earnings attributable to Allergan, Inc. 1,524,200 985,100 1,098,800 934,500 600
Total assets 12,415,700 10,574,300 9,179,300 8,508,600 8,308,100
Profitability Ratio
ROA1 12.28% 9.32% 11.97% 10.98% 0.01%
Adjusted: Mark to Market Available-for-sale Securities
Selected Financial Data (US$ in thousands)
Adjusted net earnings attributable to Allergan, Inc. 1,530,000 985,100 1,098,800 934,500 600
Total assets 12,415,700 10,574,300 9,179,300 8,508,600 8,308,100
Profitability Ratio
Adjusted ROA2 12.32% 9.32% 11.97% 10.98% 0.01%

Based on: 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31).

2014 Calculations

1 ROA = 100 × Net earnings attributable to Allergan, Inc. ÷ Total assets
= 100 × 1,524,200 ÷ 12,415,700 = 12.28%

2 Adjusted ROA = 100 × Adjusted net earnings attributable to Allergan, Inc. ÷ Total assets
= 100 × 1,530,000 ÷ 12,415,700 = 12.32%

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by total assets. Allergan Inc. adjusted ROA deteriorated from 2012 to 2013 but then improved from 2013 to 2014 exceeding 2012 level.