公司理财公式总结

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1、Assets=Liabilities+Stockholders’EquityAssets=(Current+Fixed)AssetsNetWorkingCapital=CurrentAssets–CurrentLiabilitiesRevenues-Expenses=IncomeSalesorRevenues(-)Costofgoodssold(=)Grossprofit毛利(-)Administrative/marketingcosts行政管理/营销成本,Depreciation折旧(=)OperatingProfit营业利润(-)Interest

2、s,Taxes(=)Netincome净收益(-)Dividendstopreferredstocks(=)EarningavailabletocommonshareholdersCashFlowFromAssets(CFFA)=CashFlowtoCreditors+CashFlowtoStockholdersCashFlowFromAssets=OperatingCashFlow营运现金流量–NetCapitalSpending净资本支出–ChangesinNWC净营运资本的变化OCF(I/S)营运现金流=EBIT息税前利润+depreciati

3、on–taxes=$547NCS净资本支出(B/SandI/S)=endingnetfixedassets–beginningnetfixedassets+depreciation=$130ChangesinNWC(B/S)=endingNWC–beginningNWC=$330CFFA=547–130–330=$87CFtoCreditors(B/SandI/S)=interestpaid–netnewborrowing=$24CFtoStockholders(B/SandI/S)=dividendspaid–netnewequityraised=

4、$63CFFA=24+63=$87CurrentRatio流动比率=CA/CL2,256/1,995=1.13timesQuickRatio速动比率=(CA–Inventory)/CL(2,256–301)/1,995=.98timesCashRatio现金比率=Cash/CL696/1,995=.35timesNWCtoTotalAssets=NWC/TA(2,256–1,995)/5,394=.05IntervalMeasure区间测量=CA/averagedailyoperatingcosts2,256/((2,006+1,740)/365)=

5、219.8daysTotalDebtRatio资产负债率=(TA–TE)/TA(5,394–2,556)/5,394=52.61%Debt/Equity资本负债率=TD/TE(5,394–2,556)/2,556=1.11timesEquityMultiplier权益乘数=TA/TE=1+D/E1+1.11=2.11Long-termdebtratio长期债务率=LTD/(LTD+TE)843/(843+2,556)=24.80%TimesInterestEarned利息保障倍數=EBIT息税前利润EarningsBeforeInterestandT

6、ax/Interest1,138/7=162.57timesCashCoverage现金涵盖比率=(EBIT+Depreciation)/Interest(1,138+116)/7=179.14timesInventoryTurnover存货周转=CostofGoodsSold/Inventory2,006/301=6.66timesDays’SalesinInventory销售库存的天数=365/InventoryTurnover365/6.66=55daysReceivablesTurnover应收帐款周转率=Sales/AccountsRece

7、ivable5,000/956=5.23timesDays’SalesinReceivables=365/ReceivablesTurnover365/5.23=70daysTotalAssetTurnover=Sales/TotalAssets5,000/5,394=.93ItisnotunusualforTAT<1,especiallyifafirmhasalargeamountoffixedassetsNWCTurnover=Sales/NWC5,000/(2,256–1,995)=19.16timesFixedAssetTurnover=Sa

8、les/NFA5,000/3,138=1.59timesProfitMargin利润率=NetIncome/