Equations and Only Equations Flashcards
Assets
Liabilities + Shareholder’s Equity
Working Capital
CA - CL
Net Debt
ST Debt + LT Debt - Cash
Current Ratio
CA/CL
Quick Ratio
Acid Test
(CA - Inventory) / CL
Debt-to-Equity
Debt / SE
CCC
Days Inv. OUtstanding + Days Receivables OUtstanding - Days Payable OUtstanding
Inventory Turnover
COGS / Avg. Inventory
Receivables Turnover
Net Credit Sales / Avg. AR
or
Sales / Avg. AR
Payables Turnover
COGS / Avg. AP
FCFF
EBIT*(1-tax rate) + Noncash - Capex - Incr. in WC
CF from Ops + Interest Pmts*(1-tax rate) - capex
FCFE
NI + Noncash - Capex - Incr. WC + Increases in Net Borrowing
FCFF - Int. Expense (1-Tax Rate) + Inceases in Net Borrowing
CF from Ops - Capex + Incr. New Borrowing
FCF Yield
FCFE / Mkt Cap
FCFF / EV
EPS
NI / Avg. Shares OUtstanding
P/E
Mkt. Cap / NI
Mkt Price per Share / EPS