Formulas Flashcards
Real Exchange Rate =?
nominal FX rate * (base currency CPI/ price currency CPI)
No-Arbitrage Forward Exchange Rate =?
Forward/Spot = 1+price currency IR / 1+base currency IR
Basic EPS =?
( net income - pref divs)/ weighted avg no. common shares outs…
Diluted EPS =?
Adj income available for common shares/ Weighted average common shares + potential common shares outstanding
Current Ratio =?
Current Assets/Current Liabilities
Quick Ratio =?
(Cash + Marketable Securities + Receivables)/Current Liabilities
Cash Ratio =?
(Cash + Marketable Securities)/Current Liabilities
Defensive Interval =?
(Cash + Marketable Securities + Receivables)/Daily Cash Expenditures
Receivables Turnover =?
Annual Sales/Average Receivables
Inventory Turnover =?
COGS/Average Inventory
Payables Turnover Ratio =?
Purchases/Average Trade Payables
Days of Sales Outstanding =?
365/Receivable Turnover
Days of Inventory on Hand =?
365/Inventory Turnover
Number of Days of Payables =?
365/Payables Turnover Ratio
Cash Conversion Cycle =?
Days of Inventory on Hand + Days of Sales Outstanding - Number of Days of Payables
Total Asset Turnover =?
Revenue/Average Total Assets
Fixed Asset Turnover =?
Revenue/Average Fixed Assets
Working Capital Turnover =?
Revenue/Average Working Capital
Gross Profit Margin =?
Gross Profit/Revenue
Operating Profit Margin =?
Operating Profit/Revenue OR EBIT/Net Sales
Net Profit Margin =?
Net Income/Revenue
Return on Assets (Total Capital) =?
EBIT/Average Total Capital
Debt-to-equity ratio =?
Total Debt/Total Equity
Total-Debt-Ratio =?
Total Debt/Total Assets
Interest Coverage =?
EBIT/Interest
Fixed Charge Coverage =?
(EBIT + Lease Payments)/(Interest + Lease Payments)
Growth Rate (g) =?
RR * ROE
Retention Rate =?
1 - (dividends declared/operating income after tax)
Traditional DuPont Equation, ROE =?
(Net Income/Sales)(Sales/Assets)(Assets/ Equity) OR (Net Profit Margin)(Asset Turnover)(Equity Multiplier)
Extended DuPont Equation =?
(Net Income/EBT)(EBT/EBIT)(EBIT/Revenue)(Revenue/Avg Total Assets)(Avg Total Assets/Avg Equity) OR:
ROE = tax burden × interest burden ×
EBIT margin × asset turnover × leverage
Return on Invested Capital (ROIC) =?
Net Operating Profit After Tax/Average Book Value of Total Capital
WACC =?
WACC = (wd)[kd(1 – t)] + (wce)(kce)
CAPM =?
= Rf + Beta(Rm-Rf)
Leverage Factor =?
1/Margin %
Levered return =?
HPR*Leveraged Factor
Margin Call Price =?
P(1 - initial margin %)/1 - maintenance margin %