Stock Analysis on Net
Stock Analysis on Net

Time Warner Cable Inc. (NYSE:TWC)

This company has been moved to the archive! The financial data has not been updated since April 28, 2016.

Adjusted Financial Ratios

Microsoft Excel

Adjusted Financial Ratios (Summary)

Time Warner Cable Inc., adjusted financial ratios

Microsoft Excel
Dec 31, 2015 Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011
Activity Ratio
Total Asset Turnover
Reported 0.48 0.47 0.46 0.43 0.41
Adjusted 0.47 0.46 0.45 0.43 0.40
Liquidity Ratio
Current Ratio
Reported 0.62 0.52 0.41 0.92 1.19
Adjusted 0.69 0.50 0.38 0.90 1.20
Solvency Ratios
Debt to Equity
Reported 2.50 2.96 3.61 3.67 3.51
Adjusted 1.05 1.19 1.36 1.48 1.53
Debt to Capital
Reported 0.71 0.75 0.78 0.79 0.78
Adjusted 0.51 0.54 0.58 0.60 0.60
Financial Leverage
Reported 5.48 6.05 6.95 6.84 6.41
Adjusted 2.26 2.38 2.56 2.71 2.75
Profitability Ratios
Net Profit Margin
Reported 7.78% 8.90% 8.83% 10.08% 8.46%
Adjusted 9.96% 10.63% 13.82% 12.28% 10.38%
Return on Equity (ROE)
Reported 20.50% 25.35% 28.14% 29.61% 22.11%
Adjusted 10.66% 11.76% 16.07% 14.19% 11.52%
Return on Assets (ROA)
Reported 3.74% 4.19% 4.05% 4.33% 3.45%
Adjusted 4.72% 4.94% 6.27% 5.23% 4.19%

Based on: 10-K (reporting date: 2015-12-31), 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).

Financial ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Time Warner Cable Inc. adjusted total asset turnover ratio improved from 2013 to 2014 and from 2014 to 2015.
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Time Warner Cable Inc. adjusted current ratio improved from 2013 to 2014 and from 2014 to 2015.
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Time Warner Cable Inc. adjusted debt-to-equity ratio improved from 2013 to 2014 and from 2014 to 2015.
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Time Warner Cable Inc. adjusted debt-to-capital ratio improved from 2013 to 2014 and from 2014 to 2015.
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Time Warner Cable Inc. adjusted financial leverage ratio decreased from 2013 to 2014 and from 2014 to 2015.
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Time Warner Cable Inc. adjusted net profit margin ratio deteriorated from 2013 to 2014 and from 2014 to 2015.
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Time Warner Cable Inc. adjusted ROE deteriorated from 2013 to 2014 and from 2014 to 2015.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Time Warner Cable Inc. adjusted ROA deteriorated from 2013 to 2014 and from 2014 to 2015.

Time Warner Cable Inc., Financial Ratios: Reported vs. Adjusted

Adjusted Total Asset Turnover

Microsoft Excel
Dec 31, 2015 Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011
Reported
Selected Financial Data (US$ in millions)
Revenue 23,697 22,812 22,120 21,386 19,675
Total assets 49,277 48,501 48,273 49,809 48,276
Activity Ratio
Total asset turnover1 0.48 0.47 0.46 0.43 0.41
Adjusted
Selected Financial Data (US$ in millions)
Adjusted revenue2 23,723 22,822 22,125 21,400 19,681
Adjusted total assets3 50,052 49,081 48,740 50,246 48,767
Activity Ratio
Adjusted total asset turnover4 0.47 0.46 0.45 0.43 0.40

Based on: 10-K (reporting date: 2015-12-31), 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).

1 2015 Calculation
Total asset turnover = Revenue ÷ Total assets
= 23,697 ÷ 49,277 = 0.48

2 Adjusted revenue. See details »

3 Adjusted total assets. See details »

4 2015 Calculation
Adjusted total asset turnover = Adjusted revenue ÷ Adjusted total assets
= 23,723 ÷ 50,052 = 0.47

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Time Warner Cable Inc. adjusted total asset turnover ratio improved from 2013 to 2014 and from 2014 to 2015.

Adjusted Current Ratio

Microsoft Excel
Dec 31, 2015 Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011
Reported
Selected Financial Data (US$ in millions)
Current assets 2,459 2,316 2,144 4,877 6,398
Current liabilities 3,949 4,497 5,226 5,325 5,370
Liquidity Ratio
Current ratio1 0.62 0.52 0.41 0.92 1.19
Adjusted
Selected Financial Data (US$ in millions)
Adjusted current assets2 2,553 2,156 1,887 4,625 6,193
Adjusted current liabilities3 3,718 4,293 4,998 5,116 5,171
Liquidity Ratio
Adjusted current ratio4 0.69 0.50 0.38 0.90 1.20

Based on: 10-K (reporting date: 2015-12-31), 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).

1 2015 Calculation
Current ratio = Current assets ÷ Current liabilities
= 2,459 ÷ 3,949 = 0.62

2 Adjusted current assets. See details »

3 Adjusted current liabilities. See details »

4 2015 Calculation
Adjusted current ratio = Adjusted current assets ÷ Adjusted current liabilities
= 2,553 ÷ 3,718 = 0.69

Liquidity ratio Description The company
Adjusted current ratio A liquidity ratio calculated as adjusted current assets divided by adjusted current liabilities. Time Warner Cable Inc. adjusted current ratio improved from 2013 to 2014 and from 2014 to 2015.

Adjusted Debt to Equity

Microsoft Excel
Dec 31, 2015 Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011
Reported
Selected Financial Data (US$ in millions)
Total debt 22,502 23,718 25,052 26,689 26,442
Total TWC shareholders’ equity 8,995 8,013 6,943 7,279 7,530
Solvency Ratio
Debt to equity1 2.50 2.96 3.61 3.67 3.51
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 23,183 24,458 25,776 27,378 27,138
Adjusted total equity3 22,159 20,623 19,019 18,521 17,732
Solvency Ratio
Adjusted debt to equity4 1.05 1.19 1.36 1.48 1.53

Based on: 10-K (reporting date: 2015-12-31), 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).

1 2015 Calculation
Debt to equity = Total debt ÷ Total TWC shareholders’ equity
= 22,502 ÷ 8,995 = 2.50

2 Adjusted total debt. See details »

3 Adjusted total equity. See details »

4 2015 Calculation
Adjusted debt to equity = Adjusted total debt ÷ Adjusted total equity
= 23,183 ÷ 22,159 = 1.05

Solvency ratio Description The company
Adjusted debt-to-equity ratio A solvency ratio calculated as adjusted total debt divided by adjusted total equity. Time Warner Cable Inc. adjusted debt-to-equity ratio improved from 2013 to 2014 and from 2014 to 2015.

Adjusted Debt to Capital

Microsoft Excel
Dec 31, 2015 Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011
Reported
Selected Financial Data (US$ in millions)
Total debt 22,502 23,718 25,052 26,689 26,442
Total capital 31,497 31,731 31,995 33,968 33,972
Solvency Ratio
Debt to capital1 0.71 0.75 0.78 0.79 0.78
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total debt2 23,183 24,458 25,776 27,378 27,138
Adjusted total capital3 45,342 45,081 44,795 45,899 44,870
Solvency Ratio
Adjusted debt to capital4 0.51 0.54 0.58 0.60 0.60

Based on: 10-K (reporting date: 2015-12-31), 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).

1 2015 Calculation
Debt to capital = Total debt ÷ Total capital
= 22,502 ÷ 31,497 = 0.71

2 Adjusted total debt. See details »

3 Adjusted total capital. See details »

4 2015 Calculation
Adjusted debt to capital = Adjusted total debt ÷ Adjusted total capital
= 23,183 ÷ 45,342 = 0.51

Solvency ratio Description The company
Adjusted debt-to-capital ratio A solvency ratio calculated as adjusted total debt divided by adjusted total debt plus adjusted total equity. Time Warner Cable Inc. adjusted debt-to-capital ratio improved from 2013 to 2014 and from 2014 to 2015.

Adjusted Financial Leverage

Microsoft Excel
Dec 31, 2015 Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011
Reported
Selected Financial Data (US$ in millions)
Total assets 49,277 48,501 48,273 49,809 48,276
Total TWC shareholders’ equity 8,995 8,013 6,943 7,279 7,530
Solvency Ratio
Financial leverage1 5.48 6.05 6.95 6.84 6.41
Adjusted
Selected Financial Data (US$ in millions)
Adjusted total assets2 50,052 49,081 48,740 50,246 48,767
Adjusted total equity3 22,159 20,623 19,019 18,521 17,732
Solvency Ratio
Adjusted financial leverage4 2.26 2.38 2.56 2.71 2.75

Based on: 10-K (reporting date: 2015-12-31), 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).

1 2015 Calculation
Financial leverage = Total assets ÷ Total TWC shareholders’ equity
= 49,277 ÷ 8,995 = 5.48

2 Adjusted total assets. See details »

3 Adjusted total equity. See details »

4 2015 Calculation
Adjusted financial leverage = Adjusted total assets ÷ Adjusted total equity
= 50,052 ÷ 22,159 = 2.26

Solvency ratio Description The company
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Time Warner Cable Inc. adjusted financial leverage ratio decreased from 2013 to 2014 and from 2014 to 2015.

Adjusted Net Profit Margin

Microsoft Excel
Dec 31, 2015 Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011
Reported
Selected Financial Data (US$ in millions)
Net income attributable to TWC shareholders 1,844 2,031 1,954 2,155 1,665
Revenue 23,697 22,812 22,120 21,386 19,675
Profitability Ratio
Net profit margin1 7.78% 8.90% 8.83% 10.08% 8.46%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income2 2,362 2,426 3,057 2,628 2,042
Adjusted revenue3 23,723 22,822 22,125 21,400 19,681
Profitability Ratio
Adjusted net profit margin4 9.96% 10.63% 13.82% 12.28% 10.38%

Based on: 10-K (reporting date: 2015-12-31), 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).

1 2015 Calculation
Net profit margin = 100 × Net income attributable to TWC shareholders ÷ Revenue
= 100 × 1,844 ÷ 23,697 = 7.78%

2 Adjusted net income. See details »

3 Adjusted revenue. See details »

4 2015 Calculation
Adjusted net profit margin = 100 × Adjusted net income ÷ Adjusted revenue
= 100 × 2,362 ÷ 23,723 = 9.96%

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Time Warner Cable Inc. adjusted net profit margin ratio deteriorated from 2013 to 2014 and from 2014 to 2015.

Adjusted Return on Equity (ROE)

Microsoft Excel
Dec 31, 2015 Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011
Reported
Selected Financial Data (US$ in millions)
Net income attributable to TWC shareholders 1,844 2,031 1,954 2,155 1,665
Total TWC shareholders’ equity 8,995 8,013 6,943 7,279 7,530
Profitability Ratio
ROE1 20.50% 25.35% 28.14% 29.61% 22.11%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income2 2,362 2,426 3,057 2,628 2,042
Adjusted total equity3 22,159 20,623 19,019 18,521 17,732
Profitability Ratio
Adjusted ROE4 10.66% 11.76% 16.07% 14.19% 11.52%

Based on: 10-K (reporting date: 2015-12-31), 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).

1 2015 Calculation
ROE = 100 × Net income attributable to TWC shareholders ÷ Total TWC shareholders’ equity
= 100 × 1,844 ÷ 8,995 = 20.50%

2 Adjusted net income. See details »

3 Adjusted total equity. See details »

4 2015 Calculation
Adjusted ROE = 100 × Adjusted net income ÷ Adjusted total equity
= 100 × 2,362 ÷ 22,159 = 10.66%

Profitability ratio Description The company
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted total equity. Time Warner Cable Inc. adjusted ROE deteriorated from 2013 to 2014 and from 2014 to 2015.

Adjusted Return on Assets (ROA)

Microsoft Excel
Dec 31, 2015 Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011
Reported
Selected Financial Data (US$ in millions)
Net income attributable to TWC shareholders 1,844 2,031 1,954 2,155 1,665
Total assets 49,277 48,501 48,273 49,809 48,276
Profitability Ratio
ROA1 3.74% 4.19% 4.05% 4.33% 3.45%
Adjusted
Selected Financial Data (US$ in millions)
Adjusted net income2 2,362 2,426 3,057 2,628 2,042
Adjusted total assets3 50,052 49,081 48,740 50,246 48,767
Profitability Ratio
Adjusted ROA4 4.72% 4.94% 6.27% 5.23% 4.19%

Based on: 10-K (reporting date: 2015-12-31), 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).

1 2015 Calculation
ROA = 100 × Net income attributable to TWC shareholders ÷ Total assets
= 100 × 1,844 ÷ 49,277 = 3.74%

2 Adjusted net income. See details »

3 Adjusted total assets. See details »

4 2015 Calculation
Adjusted ROA = 100 × Adjusted net income ÷ Adjusted total assets
= 100 × 2,362 ÷ 50,052 = 4.72%

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Time Warner Cable Inc. adjusted ROA deteriorated from 2013 to 2014 and from 2014 to 2015.