Beruflich Dokumente
Kultur Dokumente
GBA 546
Formula Sheet
Prepared by P. Sarmas
Tax Liability
Average Tax Rate
Taxable Income
Cash Flow from Assets = Cash Flow to Creditors + Cash Flow to Stockholders
Current Assets
Current Ratio
Current Liabilities
Total Debt
Debt - to - Equity Ratio
Total Equity
EBIT
Time Interest Earned
Interest
EBIT Depreciation
Cash Coverage Ratio
Interest
Total Assets D 1
Equity Multiplier or EM 1
Equity E D
1
TA
Sales
Total Assets Turnover
Total Assets
Sales
Fixed Assets Turnover
Net Fixed Assets
Net Income
Profit Margin (ROS)
Sales
Net Income
ROA
Total Assets
Net Income
ROE
Common Equity
EBIT
Basic Earnings Power
Total Assets
Net Income
Earnings per Share
No. Shares Outstanding
ROA * b
Internal Growth Rate
1 - (ROA * b)
ROE * b
Sustainable Growth Rate
1 - (ROE * b)
r m*t
FV PV (1 ) PV * FVIF r
m m
,mt
(1 r ) t 1
FVA C * C * FVIFAr , t
r
1 1
PVA C * t C * PVIFAr , t
r r * (1 r )
C
PVPerpetuity
r
(1 r ) t 1
FVA C due * * (1 r ) C due * FVIFAr , t * (1 r )
r
1 1 FV
Bond Value C * t
1
r r * (1 r )
(1 r ) t
1
PVA C due * t
* (1 r ) C due * PVIFAr , t * (1 r )
r r * (1 r )
(1+R) = (1+r)*(1+h)
Coupon
Coupon Rate
FV
Coupon
Current Yield
VB
1 1 FV
VB C * t
YTM YTM * (1 YTM ) (1 YTM ) t
D1 D2 D3
P0 1
2
........
(1 r ) (1 r ) (1 r ) 3
D1 D2 D3 Dn Dn 1 1
P0 ..... * n
r g c (1 r )
1 2 t n
(1 r ) (1 r ) (1 r ) (1 r )
D
P0
r
D1
P0
rg
D
r 1g
P0
Dn D0 * (1 g ) n
n
CFt
NPV (CF0 )
t 1 (1 r ) t
n
CFt
(1 IRR)
t 1
t
(CF0 ) 0
n
CFt
(1 r )
t 1
t
PI
CF0
n
Net Income
t 1
t
ARR n
Beginning Value Investment Ending Value Ivestment
2
n
COFt CIF * (1 r )
t
n t
(1 r )
t o
t
t 1
(1 MIRR) n
365
Inventory Period
Inventory Turnover
Credit Sales
Receivable Turnover
Average Accounts Receivable
365
Receivable Period
Receivable Turnover
365
Payable Period
Payable Turnover
Beginning End
Average
2
VC = Q*v
TC = VC + FC
NI = (S FC VC D)*(1-T)
FC OCF
Q general
Pv
FC D
Q Accounting BEP
Pv
FC
QCash BEP
Pv
FC OCF *
Q Financial BEP
Pv
FC
DOL 1
OCF
Q ( P v)
DOL
Q ( P v) FC
Q ( P v ) FC EBIT
DFL
Q( P v) FC Int EBIT Int
Q( P v)
DTL DCL DOL * DFL
Q( P v ) FC Int
Pt 1 Pt
Capital Gain Yield
Pt
R t
R t 1
T
1
VAR ( R ) ( R1 R ) 2
( R 2 R ) 2
......... ( RT R )2
T 1
Standard Deviation or SD(R) VAR(R)
E(Rp) = WA*E(RA) + WB*E(RB)
R = E(R) + U
n
E ( R) Pr . s * Rs
s 1
n
2 Pr .s * [ Rs E ( R )] 2
s 1
n
2 Pr * [ R
s 1
s s E ( R )]2
n
p W j * j
j 1
W A WB ..... W N 1
E(R j ) R f
Slope
j
D1 D * (1 g )
RE g 0 g
P0 P0
RE R f E * ( RM R f )
D
RP
P0
E P D
WACC * RE * RP * R D * (1 t c )
V V V
V EPD
FV P0
Coupon
YTM approximate n
FV 2 P0
3
(Revenue - Total Variable Costs - Fixed Costs - Interest) * (1 - t) ( EBIT Interest ) * (1 t )
EPS
Number of Shares Outstanding Number of Shares Outstanding
EBIT (1 T )
Vu
Ru
( EBIT Int )(1 T )
Vl
WACC
Modified Accelerated Cost Recovery System
VL VU Property Class
VL VU Tc * D Year 3-Year 5-Year 7-Year
RE R A ( R A RD ) * D / E 1 33.33% 20.00% 14.29%
D
L U 1 (1 T )
2 44.44% 32.00% 24.49%
E 3 14.82% 19.20% 17.49%
4 7.41% 11.52% 12.49%
EBIT K d D (1 T )
S 5 11.52% 8.93%
Ks
6 5.76% 8.93%
V SD
7 8.93%
V D0
P 8 4.45%
n0
D
n1 n0
P
(1 Tc )(1 Ts )
Vl Vu 1 D
(1 Td )