Table 1. Summary of t -test results for...

Table 1.

Summary of t-test results for Company X

Analysis	Line item or ratio	Mean	SD	t	Sig. (two-tailed)
Horizontal	Cash and cash equivalents	38.365	41.523	2.772	0.024
Ratio	Cash flow dividend cover	−25.053	12.716	−3.413	0.076
Horizontal	Cost of sales	29.341	35.614	2.472	0.039
Horizontal	Current assets	30.417	24.216	3.768	0.005
Horizontal	Earnings before interest and tax	29.432	23.592	3.743	0.006
Horizontal	Earnings before interest, tax, depreciation and amortisation	29.182	24.562	3.564	0.007
Ratio	Earnings/Share	14.007	20.656	2.034	0.076
Horizontal	Financial distress	0.063	0.364	6.952	0.000
Horizontal	Fixed assets	35.010	32.723	3.210	0.012
Horizontal	Goodwill	58.671	63.577	2.769	0.024
Horizontal	Gross profit	31.571	31.340	3.022	0.017
Vertical	Headline earnings per share	−10.354	7.864	−3.950	0.004
Horizontal	Headline earnings per share	15.279	23.767	1.929	0.090
Horizontal	Intangible assets	53.538	53.251	3.016	0.017
Horizontal	Inventory	38.969	38.966	3.000	0.017
Horizontal	Ordinary shareholders interest	39.675	32.128	3.705	0.006
Horizontal	Patents; trademarks	51.992	61.214	2.548	0.034
Horizontal	Profit after interest and tax	29.600	23.941	3.709	0.006
Horizontal	Profit attributable to ordinary shareholders	29.576	28.456	3.118	0.014
Horizontal	Profit before tax	30.573	26.559	3.453	0.009
Horizontal	Total headline earnings	32.752	39.254	2.503	0.037
Horizontal	Trade receivables	24.142	31.193	2.322	0.049
Horizontal	Turnover	30.330	34.899	2.607	0.031

Analysis	Line item or ratio	Mean	SD	t	Sig. (two-tailed)
Horizontal	Cash and cash equivalents	38.365	41.523	2.772	0.024
Ratio	Cash flow dividend cover	−25.053	12.716	−3.413	0.076
Horizontal	Cost of sales	29.341	35.614	2.472	0.039
Horizontal	Current assets	30.417	24.216	3.768	0.005
Horizontal	Earnings before interest and tax	29.432	23.592	3.743	0.006
Horizontal	Earnings before interest, tax, depreciation and amortisation	29.182	24.562	3.564	0.007
Ratio	Earnings/Share	14.007	20.656	2.034	0.076
Horizontal	Financial distress	0.063	0.364	6.952	0.000
Horizontal	Fixed assets	35.010	32.723	3.210	0.012
Horizontal	Goodwill	58.671	63.577	2.769	0.024
Horizontal	Gross profit	31.571	31.340	3.022	0.017
Vertical	Headline earnings per share	−10.354	7.864	−3.950	0.004
Horizontal	Headline earnings per share	15.279	23.767	1.929	0.090
Horizontal	Intangible assets	53.538	53.251	3.016	0.017
Horizontal	Inventory	38.969	38.966	3.000	0.017
Horizontal	Ordinary shareholders interest	39.675	32.128	3.705	0.006
Horizontal	Patents; trademarks	51.992	61.214	2.548	0.034
Horizontal	Profit after interest and tax	29.600	23.941	3.709	0.006
Horizontal	Profit attributable to ordinary shareholders	29.576	28.456	3.118	0.014
Horizontal	Profit before tax	30.573	26.559	3.453	0.009
Horizontal	Total headline earnings	32.752	39.254	2.503	0.037
Horizontal	Trade receivables	24.142	31.193	2.322	0.049
Horizontal	Turnover	30.330	34.899	2.607	0.031

Notes:

n = 9; df = 8

Source: Author’s own analyses using publicly available data