Assets=Liabilities + Shareholders’ equity Revenues – Expenses=Income
Earnings per share=Net income/Total shares outstanding Dividends per share=Total dividends/Total shares outstanding
Cash flow from assets=Cash flow to creditors (bondholders) + Cash flow to stockholders (owners) Cash flow from assets=Operating cash flow- Net capital spending- Change in net working capital
Operating cash flow=Earnings before interest and taxes (EBIT) +Depreciation-Taxes
Net capital spending=Ending net fixed assets-Beginning net fixed assets +Depreciation
Change in net working capital (NWC) =Ending NWC-Beginning NWC
Cash flow to creditors=Interest paid-Net new borrowing Cash flow to stockholders=Dividends paid-Net new equity raised
Current ratio=Current assets/Current liabilities Quick ratio= (Current assets-Inventory)/Current liabilities
Cash ratio=Cash/Current liabilities
Net working capital to total assets=Net working capital/Total assets
Interval measure=Current assets/Average daily operating costs
Total debt ratio= (Total assets-Total equity)/Total assets
Debt-equity ratio=Total debt/Total equity
Equity multiplier=Total assets/Total equity
Long-term debt ratio=Long-term debt/ (Long-term debt+ Total equity)
Times interest earned ratio=EBIT/Interest
Cash coverage ratio= (EBIT+ Depreciation)/Interest Inventory turnover=Cost of goods sold/Inventory Days’ sales in inventory=365 days/Inventory turnover Receivables turnover=Sales/Accounts receivable Days’sales in receivables=365 days/Receivables turnover
NWC turnover=Sales/NWC
Fixed asset turnover=Sales/Net fixed assets
Total asset turnover=Sales/Total assets
Profit margin=Net income/Sales
Return on assets (ROA) =Net income/Total assets
Return on equity (ROE) =Net income/Total equity
PE ratio=Price per share/Earnings per share
Market-to-book ratio=Market value per share/Book value per share
ROE= (Net income/Sales)*(Sales/Assets)*(Assets/Equity)
ROE=Profit margin*Total asset turnover*Equity multiplier
Dividend payout ratio=Cash dividends/Net income Internal growth rate= (ROA*b)/ (1-ROA*b)
Sustainable growth rate= (ROE*b)/ (1-ROE*b)
Capital intensity ratio=Total assets/Sales=1/Total asset turnover
若出现任何拼写错误，概不负责。