Formulas, Finanzas
Assets = Liabilities + Shareholders’ equity Revenues – Expenses = Income Cash flow from assets = Cash flow to bondholders + Cash flow to shareholders Current ratio = Current assets/Current liabilities Quick ratio = Current assets – Inventory Current liabilities
[2.1] [2.2] [2.3]
[3.1] [3.2] [3.3] [3.4] [3.5] [3.6]
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 = [$3,588 – 2,591]/$3,588 = .28 Debt/equity ratio = Total debt/Total equity = $.28/$.72 = .39 Equity multiplier = Total assets/Total equity = $1/$.72 = 1.39 Long-term debt ratio = Long-term debt Long-term debt + Total equity = $457/[$457 + 2,591] = $457/$3,048 = .15
[3.7] [3.8]
[3.9]
Times interest earned ratio = EBIT/Interest = $691/$141 = 4.9 times Cash coverage ratio = [EBIT + Depreciation]/Interest = [$691 + 276]/$141 = $967/$141 = 6.9 times Inventory turnover = Cost of goods sold/Inventory = $1,344/$422 = 3.2 times Days’ sales in inventory = 365 days/Inventory turnover = 365/3.2 = 114 days Receivables turnover = Sales/Accounts receivable = $2,311/$188 = 12.3 times Days’ sales in receivables = 365 days/Receivables turnover = 365/12.3 = 30 days NWC turnover = Sales/NWC = $2,311/($708 – $540) = 13.8 times
[3.10]
[3.11]
[3.12]
[3.13]
[3.14]
[3.15]
[3.16]
Fixed asset turnover = Sales/Net fixed assets = $2,311/$2,880 = .80 times Total asset turnover = Sales/Total assets = $2,311/$3,588 = .64 times Profit margin = Net income/Sales = $363/$2,311 = 15.7% Return on assets = Net income/Total assets = $363/$3,588 = 10.12% Return on equity = Net income/Total equity = $363/$2,591 = 14% P/E ratio = Price per share/Earnings per share = $157/$11 = 14.27 times Market-to-book ratio = Market value per share/Book value per share = $157/($2,591/33) = $157/$78.5 = 2 times ROE = Net income/Sales ×
[2.1] [2.2] [2.3]
[3.1] [3.2] [3.3] [3.4] [3.5] [3.6]
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 = [$3,588 – 2,591]/$3,588 = .28 Debt/equity ratio = Total debt/Total equity = $.28/$.72 = .39 Equity multiplier = Total assets/Total equity = $1/$.72 = 1.39 Long-term debt ratio = Long-term debt Long-term debt + Total equity = $457/[$457 + 2,591] = $457/$3,048 = .15
[3.7] [3.8]
[3.9]
Times interest earned ratio = EBIT/Interest = $691/$141 = 4.9 times Cash coverage ratio = [EBIT + Depreciation]/Interest = [$691 + 276]/$141 = $967/$141 = 6.9 times Inventory turnover = Cost of goods sold/Inventory = $1,344/$422 = 3.2 times Days’ sales in inventory = 365 days/Inventory turnover = 365/3.2 = 114 days Receivables turnover = Sales/Accounts receivable = $2,311/$188 = 12.3 times Days’ sales in receivables = 365 days/Receivables turnover = 365/12.3 = 30 days NWC turnover = Sales/NWC = $2,311/($708 – $540) = 13.8 times
[3.10]
[3.11]
[3.12]
[3.13]
[3.14]
[3.15]
[3.16]
Fixed asset turnover = Sales/Net fixed assets = $2,311/$2,880 = .80 times Total asset turnover = Sales/Total assets = $2,311/$3,588 = .64 times Profit margin = Net income/Sales = $363/$2,311 = 15.7% Return on assets = Net income/Total assets = $363/$3,588 = 10.12% Return on equity = Net income/Total equity = $363/$2,591 = 14% P/E ratio = Price per share/Earnings per share = $157/$11 = 14.27 times Market-to-book ratio = Market value per share/Book value per share = $157/($2,591/33) = $157/$78.5 = 2 times ROE = Net income/Sales ×