公司理财公式总结.docxVIP

Assets = Liabilities + Stockholders’ Equity Assets = (Current + Fixed) Assets Net Working Capital= Current Assets – Current Liabilities Revenues - Expenses = Income Sales or Revenues(-) Cost of goods sold(=) Gross profit毛利(-) Administrative/marketing costs行政管理/营销成本, Depreciation折旧(=) Operating Profit营业利润(-) Interests, Taxes (=) Net income净收益(-) Dividends to preferred stocks(=) Earning available to common shareholders Cash Flow From Assets (CFFA) = Cash Flow to Creditors + Cash Flow to Stockholders Cash Flow From Assets = Operating Cash Flow营运现金流量– Net Capital Spending净资本支出– Changes in NWC净营运资本的变化 OCF (I/S)营运现金流= EBIT息税前利润+ depreciation – taxes = $547 NCS净资本支出( B/S and I/S) = ending net fixed assets – beginning net fixed assets + depreciation = $130 Changes in NWC (B/S) = ending NWC – beginning NWC = $330 CFFA = 547 – 130 – 330 = $87 CF to Creditors (B/S and I/S) = interest paid – net new borrowing = $24 CF to Stockholders (B/S and I/S) = dividends paid – net new equity raised = $63 CFFA = 24 + 63 = $87 Current Ratio 流动比率= CA / CL 2,256 / 1,995 = 1.13 times Quick Ratio 速动比率= (CA – Inventory) / CL (2,256 – 301) / 1,995 = .98 times Cash Ratio 现金比率= Cash / CL 696 / 1,995 = .35 times NWC to Total Assets = NWC / TA (2,256 – 1,995) / 5,394 = .05 Interval Measure区间测量= CA / average daily operating costs 2,256 / ((2,006 + 1,740)/365) = 219.8 days Total Debt Ratio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 = 1.11 times Equity Multiplier权益乘数= TA / TE = 1 + D/E 1 + 1.11 = 2.11 Long-term debt ratio长期债务率 = LTD / (LTD + TE) 843 / (843 + 2,556) = 24.80% Times Interest Earned利息保障倍數 = EBIT息税前利润 Earnings Before Interest and Tax / Interest 1,138 / 7 = 162.57 times Cash Coverage现金涵盖比率= (EBIT + Depreciation) / Interest (1,138 + 116) / 7 = 179.14 times Inventory Turnover存货周转 = Cost of Goods Sold / Inventory 2,006 / 301 = 6.66 times Days’ Sales in Inventory 销售库存的天数= 365 / Inventory Turnover 365 / 6.66 = 55 days Recei