Discount toyo tire

Released today by ICON Financial Advisory Services, LLC (IFAS), a Registered Investment Adviser (CRD # 119-292): Two of the most comprehensive studies to date on labor productivity and vertical gap analysis benchmarks for Cooper Tire & Rubber Co. (NYSE: CTB).

According to Aaron Freeman, President of IFAS, "With the globalization of markets, greater foreign competition, and the reduction of barriers to entry, it becomes all the more important to benchmark a company's financial indicators on a worldwide basis. World stock markets have recently witnessed a return to fundamental financial analysis. " The goal of the reports is to assist consultants, financial managers, strategic planners, and corporate officers in gauging certain indicators of Cooper Tire & Rubber Co.'s financial and human resource structure.

Drawing on the expertise of Professor Philip M. Parker of INSEAD (Fontainbleau, France and Singapore), IFAS has benchmarked Cooper Tire & Rubber Co. against competing firms in the Tires and Inner Tubes Manufacturing industry worldwide--going beyond traditional methods of company benchmarking. The results are two specialized reports: (1) global financial benchmarks using common-size statement ratios (vertical analysis), and (2) labor productivity and utilization measures collected across borders.

Coverage reports, financial ratios and labor productivity ratios, are available for Cooper Tire & Rubber Co. Each report reveals productivity and industry ranks for Cooper Tire & Rubber Co. in the Tires and Inner Tubes Manufacturing industry. Reports for the following and many other "Tires and Inner Tubes Manufacturing" companies are available now:

Ceat Ltd., Compagnie Generale des Etablissements Michelin, Continental AG, DMIB Berhad, Dunlop Africa Ltd., Feng Tay Enterprise Co. Ltd., Goodyear Public Co. Ltd., Hankook Tire Co. Ltd., Heung Ah Corp., Kenda Rubber Industrial Co. Ltd., Kumho Industrial Co. Ltd., Marangoni S.p.A., Nexen Tire, Nokian Renkaat Oy, Ohtsu Tire & Rubber Co. Ltd., Okamoto Industries Inc., Pirelli Deutschland AG, Pirelli Pneus S.A., Pirelli S.P.A., Sumitomo Rubber Industries LTD, The Goodyear Tire & Rubber Co., Toyo Tire & Rubber Co LTD, Vredestein NV, and Yokohama Rubber Co. Ltd.

The vertical analysis deals with questions like: How has Cooper Tire & Rubber Co.'s asset structure varied compared to global benchmarks for the "Tires and Inner Tubes Manufacturing" industry? Does it generally hold more cash and other short-term assets, or does it tend to concentrate its assets in physical plant and equipment? On the liability side, does Cooper Tire & Rubber Co. typically have a higher percent of payables compared to the benchmarks, or does it hold a higher concentration of long-term debt? Does Cooper Tire & Rubber Co. have a relatively higher cost of goods sold, operating costs, or income taxes compared to global benchmarks? Have Cooper Tire & Rubber Co.'s returns on equity been higher or its profit margins greater?

While the labor productivity analysis answers the following: What has been the ratio of short-term and long-term assets to employee? What are typical capital-labor ratios? What are the average sales and net profits per employee compared to global benchmarks?

Freeman notes, "We are intrigued by the wide variations in basic financial and productivity measures between Cooper Tire & Rubber Co. and other Tires and Inner Tubes Manufacturing companies. The Gross Profit Margin, for example, varied from 36.96 to 8.77. We see this type of variation in the 100 or so ratios that we estimate."

Methodology: Uncovering Gaps

Most vertical analyses merely focus on benchmarking against domestic ratios, often published by government agencies or commercial sources. In contrast, IFAS calculates thousands of industry norms by looking at firms at the global level, pooling statistics on tens of thousands of companies across over 40 countries, and applying a seven-stage methodology: (1) identification of industry classifications, (2) firm-level data collection and aggregation, (3) standardization of raw statistics, (4) filtering outliers, (5) calculation of global norms, (6) projection of deviations and gaps, and (7) projection of ranks and percentiles. For each part of the financial statement, the larger structural differences and gaps between Cooper Tire & Rubber Co. and the global benchmarks are provided with summary tables of ranks and percentiles.

Previously available only through booksellers such as Hoovers, Amazon.com, and Barnes and Noble, two studies are now available direct from the publisher at a 50% discount off the cover price. This special offer includes Vertical Analysis and International Financial Benchmarks and Labor Productivity, Utilization and Global Benchmarks at $99.95 each. Contact Dannielle Andrews for more information.

About IFAS

IFAS assists managers with global benchmarking, gap analysis, and productivity studies. Clients can create their own benchmarks by choosing their competitors from among over 20,000 companies.