Ratios financial analysis Flashcards
Net working capital
(current assets -excess cash) -(current liabilities - current debt)
Net non-current operating assets
non-current operating assets - non current operating liabilities
NIPAT
investment and interest income * (1-TR)
interest after tax
interest expense * (1-TR)
NOPAT
P/L + interest after tax - NIPAT
Financial laverage gain
(ROI-(interest exp. after tax/debt) * debt/equity
ROE
P/L / equity = ROI + (ROI - (interest expense after tax/debt)) *debt/equity
ROA
P/L / total assets
equity multiplier
total assets / equity
profit margin
P/L / revenue
asset turnover
revenue / assets
ROI
NOPAT / net operating assets * w1 + NIPAT / non operating investments * w2
=
return on net op. assets * w1 + return on non-operating investments * w2
NOPAT margin
NOPAT / revenue
operating asset turnover (NOA turnover)
revenue / net operating assets
Return on net op. assets
NOPAT / net operating assets = NOPAT margin * NOA turnover
Return on net op. inv.
NIPAT / net operating investments
receivables turnover ratio
revenue / accounts receivable
inventories or payables turnover ratio
cost of sales or materials / inventories or payables
days’ receivables/payables/inventories
operating days in a year / turnover ratio
