P&L Flashcards
1
Q
Sales
to
EBIT
A
EBIT =
Sales
- COGS
- Other expenses
2
Q
COGS
A
- raw materials
- production wages
- other related production
- depreciation
3
Q
other operating expenses
A
- selling
- admninistration
- R&D
4
Q
EBIT
to
EAT
A
EBIT
- interest expenses
- corporate taxes
= EAT
5
Q
Sales
to
EBITDA
A
Sales
- production cost
- other operating expense
= EBITDA
6
Q
EBITDA
to EBIT
A
EBIT = EBITDA - depreciation
7
Q
FCF
with EBITDA
A
FCF =
EBITDA (1-T) + Dep x T - ∆WVR - Inv
8
Q
FCF
with EBIT
A
FCF =
EBIT (1-T) + Dep - ∆WVR - Inv
9
Q
∆NCP
A
FCF
- dividends
+ ∆ Equity
+ ∆ LT Debt
10
Q
Relation taux nominal / taux réel
A
( 1 + rnom ) = ( 1 + rreal ) x ( 1 + inflation )
11
Q
CF nom =
A
CF nom = CF real x ( 1 + inflation ) ^n
12
Q
NPV with CF Nom
A
- Io + Σ CFnom / ( 1 + r nom )^n
