K3

Question 1

Liquidity analysis: Current ratio – Formula

Answer 1

Current assets/current liabilities

Question 2

Liquidity analysis: What does the current ratio measure?

Answer 2

Measures the degree to which current assets cover current liabilities
What’s the reference value for the current ratio?
Close to 2 (200%)

Question 3

Liquidity analysis: Interest coverage – Formula

Answer 3

EBIT/Interest expenses

Question 4

Liquidity analysis: What does the interest coverage measure?

Answer 4

Measures a firm’s ability to pay its interest expenses through its result from operations

Question 5

Liquidity analysis: Whats the reference value for the interest coverage?

Answer 5

At least 1,5
-> otherwise illiquidity risks are high

Question 6

Solvency Analysis: Debt-to-equity-ratio (leverage) – Formula

Answer 6

total debt/equity

Question 7

Solvency Analysis: What does the debt-to-equity-ratio measure?

Answer 7

Measurs how well long term debt holders are protected by the equity of the company

Question 8

Solvency Analysis: What’s the reference value for the debt-to-equity-ratio?

Answer 8

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Question 9

Solvency Analysis: Net-debt-to-ebitda-ratio – Formula

Answer 9

net debt/EBITDA

Question 10

Solvency Analysis: What does the Net-debt-to-ebitda-ratio measure?

Answer 10

• Measures a firm’s ability to pay its debt through its operational cash flow.
• The ratio shows how many years it would take for a company to pay back its debt if net debt and EBITDA are held constant

Question 11

Solvency Analysis: What’s the reference value for the net-debt-to-ebitda-ratio?

Answer 11

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Question 12

Solvency Analysis: Calculation EBITDA

Answer 12

U-Erlöse
- Materialaufwand
- Personalaufwand
- Abschreibungen
= EBIT
- Zinsen
- Steueraufwand
= Jahresüberschuss

EBIT
+ Abschreibung
= EBITDA