Formula Financial Statement Analysis

Question 1

Return on Equity (ROE)

Answer 1

Net Income / Equity

Zeigt, wie effizient das Eigenkapital genutzt wird, um Gewinne zu generi

Question 2

DuPont Analysis

Answer 2

ROE = Net Profit Margin * Asset Turnover * Equity Multiplier

Net Income / Revenue
Revenue / Assets
Assets / Equity

ROE = Tax Burden * Interest Burden * EBIT Margin * Asset Turnover * Equity Multiplier

Net Income / EBT
EBT / EBIT
EBIT / Revenue
Revenue / Assets
Assets / Equity

Question 3

Fixed Asset Turnover Ratio

Answer 3

.

Revenue / Average Fixed Assets

Misst, wie effizient ein Unternehmen seine langfristigen Vermögenswerte

Question 4

Free Cash-Flow to the Firm (FCFF)

Answer 4

EBIT (1-t) + Depreciation - Change in Working Capital - CapEx

EBITDA (1-t) + Depreciation * t - Change in Working Capital - CapEx

CFO + Interest Paid * (1-t) - CapEx

Question 5

Free Cash-Flow to Equity (FCFE)

Answer 5

EBIT (1-t) + Depreciation - Change in Working Capital - CapEx + Net Borrowing

EBITDA (1-t) + Depreciation * t - Change in Working Capital - CapEx + Net Borrowing

CFO - CapEx + Net Borrowing

Question 6

Return on Assets (ROA)

Answer 6

Net Income / Total Assets

Zeigt, wie effizient ein Unternehmen seine Vermögenswerte nutzt, um Gewi

Question 7

Financial Leverage Ratio

Answer 7

Total Assets / Shareholder’s Equity

Zeigt das Verhältnis von Fremd- zu Eigenkapital und wie stark das Untern

Question 8

Cash Conversion Cycle (CCC)

Answer 8

= Days Inventory on Hand (DIO)
+ Days Sales Outstanding (DSO)
- Days Payable Outstanding (DPO)

365 /
Cost of Goods Sold (COGS) / Average Inventory

Revenue / Average Accounts Receivable

Cost of Goods Sodl (COGS) / Average Accounts Payable

Question 9

Fixed Charge Coverage Ratio

Answer 9

EBIT + Fixed Charges / Fixed Charges + Interest Expense

Zeigt, wie gut ein Unternehmen in der Lage ist, seine fixen Zahlungsverp

Question 10

Price Elasticity of Demand

Answer 10

% Änderung der nachgefragten Menge
____________________________________________
% Änderung des Preises

Die Preiselastizität der Nachfrage misst, wie empfindlich die nachgefrag

Question 11

Gross Profit Margin (Bruttomarge)

Answer 11

Revenue - COGS
____________________
Revenue

Die Bruttomarge zeigt, wie effizient ein Unternehmen seine Produkte oder

Question 12

Cash Received from Customers

Answer 12

Revenue - Δ Accounts Receivable

Die Berechnung zeigt den tatsächlichen Zahlungsmittelzufluss aus Kundenv

Question 13

Cash Paid to Suppliers

Answer 13

COGS + Increase Inventory - Increase Accounts Payable

Question 14

Total Debt Ratio

Answer 14

Total Debt / Total Assets

Die Total Debt Ratio misst den Anteil der gesamten Schulden eines Untern

Question 15

Debt-to-Capital Ratio

Answer 15

Total Debt / Total Debt + Total Equity

Misst den Anteil der Schulden an der gesamten Kapitalstruktur eines Unte

Question 16

Interest Coverage Ratio

Answer 16

EBIT / Interest Expense

Question 17

Current Ratio

Answer 17

Current Assets / Current Liabilities

Fähigkeit des Unternehmens, seine kurzfristigen Verbindlichkeiten mit ku

Question 18

Quick Ratio

Answer 18

Current Assets - Inventory / Current Liabilities

“Acid Test Ratio”

Question 19

Cash Ratio

Answer 19

Cash + Cash Equivalents / Current Liabilities

Fähigkeit, mit Bargeld und gleichwertigen Mitteln Bedarf zu decken.

Question 20

Current Assets

Answer 20

Cash & Cash Equivalents
Accounts Receivables
Inventory
Prepaid Expenses
Marketable Securities

Question 21

Current Liabilities

Answer 21

Accounts Payable
Short-term Debt
Accrued Expenses
Unearned Revenue
Current Portion of Long-term Debt
Taxes Payable

Question 22

Diluted Earnings per Share (Diluted EPS)

Answer 22

Net Income - Preferred Dividends + Adjustments for Dilutive Securities (net of tax) /
Weighted Average Shares Outstanding + Additional Shares from Dilutive Securities

Zeigt den Gewinn pro Aktie, wenn alle potentiellen Stammaktien, die durc

For preference shares, we need to subtract the preference dividends in the numerator, as well as add on the new shares issued from the conversion in the denominator.
For convertible bonds, we need to add the after-tax interest in the numerator, as well as add on the new shares issued from the conversion in the denominator.
For stock options, use the Treasury stock method.

Question 23

Basic Earnings per Share (Basic EPS)

Answer 23

Net Income - Preferred Dividends /
Weighted Average Shares Outstanding

Anteil des Nettogewinns, der auf jede ausstehende Stammaktie entfällt.

Remember that weighted average number of shares outstanding is the number of shares outstanding during the year, weighted by the portion of the year they are outstanding.

Stock splits and stock dividends are applied retrospectively to the beginning of the year, so the old shares are converted to the new shares for consistency.

One more thing, please ignore dividend paid to common shareholders. Only preference shareholders matter here.

Question 24

Defensive Interval Ratio

Answer 24

Current Assets - Inventory / Daily Operational Expenses

Question 25

Receivables turnover

Answer 25

Revenue / Average Receivables

Question 26

Working capital turnover

Answer 26

Revenue / Average Working Capital

Question 27

Payable Turnover

Answer 27

Cost of Goods Sodl (COGS) / Average Accounts Payable

Question 28

Inventory turnover

Answer 28

Cost of Goods Sold (COGS) / Average Inventory

Question 29

Operating profit margin

Answer 29

Operating Income / Revenue

Question 30

Pretax Margin

Answer 30

EBT / Revenue

Question 31

Operating ROA

Answer 31

EBIT / Average Total Assets

Question 32

Return on Total Capital

Answer 32

EBIT / Debt + Equity

Question 33

Return on Common Equity (ROCE)

Answer 33

Net Income – Preferred Dividends / Average Common Equity

Question 34

Dividend Payout Ratio

Answer 34

Gesamte Dividenden / Net Income

Die Dividend Payout Ratio misst den Anteil des Gewinns, der als Dividende an die Aktionäre ausgeschüttet wird.

Question 35

Retention Ratio (RR)

Answer 35

1 – Dividend Payout Ratio

Question 35

WACC

Answer 35

Der WACC (Weighted Average Cost of Capital) ist der gewichtete durchschnittliche Kapitalkostensatz eines Unternehmens. Er gibt an, wie viel ein Unternehmen im Durchschnitt für das von Investoren und Gläubigern zur Verfügung gestellte Kapital zahlen muss.