Ratios Flashcards
Gross Profit Margin
gross profit / net sales x 100
Net sales: dettes fins CT – dettes fins LT – trésorerie
EBITDA Margin
EBITDA / net sales x 100
Atteste la solvabilité de l’E
Net sales: dettes fins CT – dettes fins LT – trésorerie
Operating profit / EBIT Margin
operating profit / net sales x 100
résultat d’exploitation / CA
Atteste pbs financiers (même si perf)
ROS (net profit margin/marge nette)
net earnings / net sales x 100
ROE (return on equity)
net earnings / equity x 100
ROCE (return on capital employed)
earnings before interest and taxes (EBIT) / PPE + Intangible assets + WCR x 100
ROCE (return on capital employed)
earnings before interest and taxes (EBIT) / total assets – current liabilities x100
Cash Flow Margin
operating cash-flow / net sales x 100
Free Cash Flow Margin
free cash-flow / net sales x 100
WCR
inventories + receivables – payables
WCR/net sales x100
WCR/net sales x 360j
DSO (days of sales outstanding)
receivables / net sales x360j
DIO (days of inventory outstanding)
inventory / COGS x360j
management of inventories
finished goods inventory/net sales x360j
DOP (days of payables outstanding)
payables / COGS x 360j
capital expenditures
net value of tangible assets / gross value of tangible assets x100
CAPEX / operating cash-flow
CAPEX/operating cash flow x100
Current ratio / net working capital ratio / current liquidity
current assets / current liabilities
Quick ratio
current assets – inventories / current liabilities
Utilité: mesurer si E est en mesure de rembourser ses dettes à CT (si moins de 1 alors NON, si plus de 1 alors OUI)
Inventories
inventories / current assets x 100
Cash ratio
cash and cash equivalent / current liabilities x 100
Equity ratio
total equity / total assets x 100
Debt ratio
total debt / total assets x 100
Should be lower than 100%
Net gearing ratio
net debt / total equity x 100
Net debt
total debt – cash & cash equivalents / total equity x 100
Should be between 50% and 60%
Debt ratio
debt (LT + ST) / operating cash flow
Should be no more than 3
EBITDA Solvency / Coverage
net debt / EBITDA
X means it will take X years to repay its debts (LT)
Should be under 3 allows company to repay its obligations
Coverage
interest / EBITDA x100
Should be less than 30%
Repayment ability
net debt/free cash flow
ST/LT Debt ratio
ST debt / LT debt x 100
Should be lower than 40%
Market-to-book ratio / price to book ratio
market value of equity / book value of equity
PER (price to earnings ratio)
stock current price / earnings per share (EPS)
Dividend yield
annual dividend per share / price per share x 100
Dividend payout ratio
total dividends / net income
Enterprise value (EV)
market value of equity + debt – cash
Valeur comptable
VC = fonds propres = actifs/assets – dettes/liabilities
