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    Công TH C

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    hoantkss181354
    The document provides a formula sheet covering various financial metrics for analyzing a company's cash flows, ratios, valuation, and time value of money calculations. It includes formulas for cash flow, liquidity ratios, asset management ratios, leverage ratios, profitability ratios, internal growth rates, time value of money, bond valuation, and stock valuation.

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    Công TH C

    Uploaded by

    hoantkss181354
    11 views2 pages
    The document provides a formula sheet covering various financial metrics for analyzing a company's cash flows, ratios, valuation, and time value of money calculations. It includes formulas for cash flow, liquidity ratios, asset management ratios, leverage ratios, profitability ratios, internal growth rates, time value of money, bond valuation, and stock valuation.

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    The document provides a formula sheet covering various financial metrics for analyzing a company's cash flows, ratios, valuation, and time value of money calculations. It includes formulas for cash flow, liquidity ratios, asset management ratios, leverage ratios, profitability ratios, internal growth rates, time value of money, bond valuation, and stock valuation.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    11 views2 pages

    Công TH C

    Uploaded by

    hoantkss181354
    The document provides a formula sheet covering various financial metrics for analyzing a company's cash flows, ratios, valuation, and time value of money calculations. It includes formulas for cash flow, liquidity ratios, asset management ratios, leverage ratios, profitability ratios, internal growth rates, time value of money, bond valuation, and stock valuation.

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    BUS 328 – FORMULA SHEET

    Cash Flow summary


    CF from assets = CF to creditors + CF to stockholders
    CF to creditors = Interest paid – Net new borrowing
    CF to stockholders = Dividends paid – Net new equity raised
    CF from assets = Operating CF – Net Capital Spending – Change in NWC
    Operating CF = EBIT + Depreciation – Taxes
    Net capital spending = End. Net fixed assets – Beg. Net fixed assets + Depreciation
    Change in NWC = End. NWC – Beginning. NWC

    Short-term solvency, or liquidity, ratios Asset management, or turnover ratios

    Current ratio = Inventory turnover =

    Quick ratio = Days’ sales in inventory =

    Cash ratio = Receivable turnover =

    NWC to total assets = Days’ sales in receivables =

    Interval measure = NWC Turnover =

    Long-term solvency, or financial leverage ratios


    Fixed asset turnover =

    Total debt ratio =


    Total asset turnover =

    Market value ratios


    Debt-Equity ratio = EPS =

    Equity multiplier = = 1 + Debt-equity ratio PE ratio =

    Long term debt ratio = Price-sales ratio =

    Times interest earned ratio = Market-to-book ratio =

    Market of firm’s assets


    Cash coverage ratio = Tobin’s Q =
    Replacement cost of firm’s assets
    Profitability ratios
    ’
    =
    Profit margin = ’
    Enterprise value = Total market value of the stock
    + Book value of all liabilities
    ROA = – Cash

    ROE = = x x EBITDA ratio = Enterprise value / EBITDA


    = Profit margin x Total assets turnover x Equity multiplier

    Internal growth rate = Sustainable growth rate = b =


    TIME VALUE OF MONEY

    FV of C invested at r percent for t periods: FV = C x (1 + r) ℎ (1 + r) is the future value factor.

    PV of C to be received in t periods at r percent per period: PV = C / (1 + r) with (1 + r) is the present value factor.

    The relationship between PV and FV: PV = FV /(1 + r)

    t
    (1+r) −1
    FV of an annuity: FV = C x
    r
    )

    –
    ( )
    PV of an annuity: PV = C x

    PV of a perpetuity of C per period: PV = C/r

    Growing annuity PV = C x

    Growing perpetuity PV = C x =

    EAR = [1 + ] –1=e −1

    1
    1− t
    (1+r)
    Bond value = C x + = PV of the Coupon + PV of the face amount
    ( )

    The Fisher Effect: 1 + R = (1 + r) x (1 + h)

    STOCK EVALUATION

    1. The general case: P = + + +…


    ( ) ( ) ( )

    2. Constant Growth Case: P = (Dividend growth model)

    ( )
    3. Nonconstant Growth: P = + + +…+ + Where P =
    ( ) ( ) ( ) ( ) ( ) ( )

    ( ) ( )
    4. Two-stage Growth: P = x 1− + where P = =
    ( ) ( )

    5. Valuation Using Multiples: P = Benchmark PE ratio x EPS / P = Benchmark price – sales ratio x Sales per share

    6. The Required Return: R = D /P + g = Dividend yield + Capital gain yield

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