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J. C. Penney Company, Inc. Equity Valuation and Analysis As of ...

J. C. Penney Company, Inc. Equity Valuation and Analysis As of ...

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Z-Score <strong>Analysis</strong>Z-Score=1.21.43.32002 2003 2004 2005 2006Working Capital 4,194 2,759 4,980 3,940 3,156+Total <strong>As</strong>sets17,867 18,300 14,127 12,461 12,673Retained Earnings 2,817 1,728 812 512 922+Total <strong>As</strong>sets17,867 18,300 14,127 12,461 12,673EBIT 1,107 790 1,312 1,577 1,922+Total <strong>As</strong>sets17,867 18,300 14,127 12,461 12,6730.61Market Value <strong>of</strong> <strong>Equity</strong> 4,533 10,346 14,249 15,096 18,530+Book Value <strong>of</strong> Liabilities 11,497 12,875 9,271 8,454 8,385Sales 32,347 17,786 18,424 18,781 19,903Total <strong>As</strong>sets 17,867 18,300 14,127 12,461 12,673Raw 2002 2003 2004 2005 20060.2347 0.1508 0.3525 0.3162 0.24900.1577 0.0944 0.0575 0.0411 0.07280.0620 0.0432 0.0929 0.1266 0.15170.3942 0.8036 1.5370 1.7857 2.20991.8104 0.9719 1.3042 1.5072 1.5705Weighted 2002 2003 2004 2005 20060.2817 0.1809 0.4230 0.3794 0.29880.2207 0.1322 0.0805 0.0575 0.10190.2045 0.1425 0.3065 0.4176 0.50050.2365 0.4822 0.9222 1.0714 1.32591.8104 0.9719 1.3042 1.5072 1.5705Z-score 2.7539 1.9096 3.0363 3.4332 3.7976149

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