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Moog Inc. Benchmarking Study 2011

The document compares financial metrics for three aerospace companies - Moog Inc., Curtiss Wright, and Parker Hannifin - over three years from 2009 to 2011. It finds that Parker Hannifin was the largest company and strongest competitor based on metrics like gross profit, net sales, R&D expenses, earnings per share, and market share. Research and development spending increased at Moog Inc. from 2010 to 2011. Net sales increased or decreased over the periods for the different companies based on factors like acquisitions, currency effects, and market demand. Moog Inc. projected further sales and earnings growth in 2012.

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4 views3 pages

Moog Inc. Benchmarking Study 2011

The document compares financial metrics for three aerospace companies - Moog Inc., Curtiss Wright, and Parker Hannifin - over three years from 2009 to 2011. It finds that Parker Hannifin was the largest company and strongest competitor based on metrics like gross profit, net sales, R&D expenses, earnings per share, and market share. Research and development spending increased at Moog Inc. from 2010 to 2011. Net sales increased or decreased over the periods for the different companies based on factors like acquisitions, currency effects, and market demand. Moog Inc. projected further sales and earnings growth in 2012.

Uploaded by

Rk Vr
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Group Project Week 3:

Moog Inc.

Ravi Verma

Week 3 Problem 1: Prepare a benchmarking study between your company and the two competitors using at least 5 parameters. The Table below shows the benchmark study between Moog Inc. and two of its competitor Curtiss Wright and Parker Hannifin based on 5 parameters/metrics. (All dollars in thousands)

Company Name Moog Inc. 2011

Parameter 1 Gross Profit $679,477

Parameter 2 Net Sales $2,330,680

Parameter 3 R&D expenses $106,305

Parameter 4 Net EPS Basic:$2.99 Dilute: $2.95

Parameter 5 Market Captured 1.80B

2010

$612,611

$2,114,252

$102,600

Basic: $2.38 Dilute: $2.36

2009

$537,300

$1,848,918

$100,022

Basic: $2.00 Dilute: $1.98

CURTISS WRIGHT 2011 $676,118 $2,054,130 $676,118 Basic: $2.81 Dilute: $2.77 2010 $621,753 $1,893,134 $621,753 Basic: $2.33 Dilute: $2.30 2009 $595,531 $$1,809,690 $595,531 Basic: $2.10 Dilute: $2.08 1.52B

Group Project Week 3:

Moog Inc.

Ravi Verma

PARKER HANNIFIN 2011 $2,958,143 $12,345,870 $1,467,773 Basic: $2.00 Dilute: $1.98 2010 $2,146,099 $9,993,166 $1,277,080 Basic: $2.00 Dilute: $1.98 2009 $2,127,667 $10,309,015 $1,290,379 Basic: $2.00 Dilute: $1.98 12.70B

All three companies compete with each other in Aerospace and Defense Industry. As we can see from above table parker Hannifin is the strongest competition to other two companies and is also one of the largest company in this field. Total research and development costs relating to the development of new products and services and the improvement of existing products and services amounted to $359.5 million in fiscal year 2011, $316.2 million in fiscal year 2010, and $338.9 million in fiscal year 2009. According to Moogs Inc. 10-K filling and by looking into above table Research and development increased in 2011 as compared to 2010 and was because of increases on multiple programs, including the Airbus A350 program. Research and development expenses increased modestly in 2010 compared to 2009. The Net sales in 2010 of Parker Hannifin were 3.1 percent lower than 2009. The decline in sales in 2010 primarily reflects lower volume in all segments except for the Climate & Industrial Controls Segment. Acquisitions did not make a material contribution to the sales level in 2010. The effect of currency rate changes increased net sales in 2010 by approximately $126 million. Net sales for Moog Inc. increased in 2011 as compared to 2010 because of strong increases coming from all of our segments. Also the net

Group Project Week 3:

Moog Inc.

Ravi Verma

sales increase in 2010 was a result of $200 million of incremental sales from acquisitions, primarily in Aircraft Controls and Industrial Systems. According to Moog Inc. 10-k filling the sales in 2012 is expected to increase $184 million, or 8%, to $2.52 billion reflecting increases in all of their segments. They are also expecting operating margins to improve to 11.1% in 2012 compared to 10.6% in 2011. Net earnings are expected to increase to $152 million and diluted earnings per share to increase by 12% to $3.31.

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