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DEFINITION OF TERMS

 EBITDA: Earnings before interest, tax, depreciation and


amortization (EBITDA) is a measure of a company's
operating performance. Essentially, it's a way to evaluate a
company's performance without having to factor in financing
decisions, accounting decisions or tax environments.Jun 6,
2019

Depreciation: (75,000)
Amortization: (25,000)
Interest Expense: (50,000)
Taxes: (100,000)
 Preferred Stock-stock that entitles the holder to a fixed dividend,
whose payment takes priority over that of common-stock
dividends.Also called preference share.

 Cumulative preferred stock - a preferred stock typically has a


fixed dividend yield based on the par value of the stock. This
dividend is paid out at set intervals, usually quarterly, to preferred
holders. Preferred stocks are valued similarly to bonds.

 Convertible redeemable preferred stock are flexible instruments


with reduced risk. Redeemable shares can be bought back by the
issuing company under agreed terms.

 Non-callable preferred stock (also known as non-redeemable


preferred stock) In other words, the issuer of non-callable preferred
shares does not have the option to buy back the issued shares

 What-are-non-cumulative-redeemable-preference-shares
· A preference share is a share which is entitled to a fixed dividend
payment, and no dividend can be paid to ordinary shareholders
before a dividend is paid to preference shareholders. If they are
non-cumulative, this means that if a dividend is not paid, then it
does not roll forward -...

 Redeemable preferred stock is a type of preferred stock that


allows the issuer to buy back the stock at a certain price and retire it,
thereby converting the stock to treasury stock.These terms work
well for the issuer of the stock, since the entity can eliminate equity if
it becomes too expensive.. The redemption feature tends to set an
upper limit on the market price of the stock,

What does it mean for a company to redeem its


preferred stock?

Callable means that the issuer has the right to call or redeem a
preferred stock after the five years are up but is not obligated
to call the preferred stock. In other words, the issuer will call
(redeem) a preferred stock when it is to their benefit to do so.

 What is the difference between cumulative and non-


cumulative preference shares?

The difference is what happens if the payment of a dividend is


missed. If it is a non-cumulative preference share, the
dividend is lost forever and never paid. If it is a cumulative
preference share, the dividend may be paid later, if and when
the funds to do so are available.

 What is the difference between redeemable shares and


convertible shares?

The terms "redeemable shares" and "convertible shares" refer to


different types of preferred stock. If a preferred stock is redeemable,
it means that the issuing company can exchange those shares for
cash, while convertible shares can be exchanged by the shareholder
for common stock.
 Common-A common stock is a security that represents
ownership in a corporation. There are different varieties
of stocks traded in the market. For example, value
stocks are stocks that are lower in price with relation
to their fundamentals. Growth stocks are companies
that tend to increase in value due to growing
earnings.

Difference Between Preferred Stock and Common Stock

• Both common stock and preferred stock represent the ownership


interest in a firm, and are entitled to dividends and capital gains and can be
traded on a stock exchange at any time
.
Preferred stock is paid a fixed dividend on a periodic basis, whereas
common stockholder’s income will depend on the company’s
performance.

Preferred stock holders are paid dividends first before any dividends
payments are made to common stockholders.

Unlike preferred stock, common stockholders have voting rights and


can cast votes when making important company decisions, such as in
selecting the upper management or board of directors.

Is common stock a better investment than preferred stock?


Generally speaking, common stocks are a better investment earlier in
life when you’re trying to build your wealth. Preferred stock is often a
good choice for those who are at the tail-end of their careers or have
already retired and want an additional source of income.
How is common stock traded?
Stocks are bought and sold throughout the day on a stock exchange. The
two stock exchanges in the United States are the New York Stock
Exchange and the NASDAQ. For this reason, the price of a share of a
stock goes up and down depending on the demand. Individual stock prices
are affected by corporate earnings and public relations announcements.

What does issuing common stock mean?


Common stocks are ordinary shares that companies issue as an alternative
to selling debt or issuing a different class of shares known as preferred
stock. The first time that a company issues common stock into the public
markets, it does so via an initial public offering.

 Definition of investment portfolio: Pool of different investments


by which an investor bets to make a profit (or income) while
aiming to preserve the invested (principal) amount. These
investments are chosen generally on the basis of ...

What is the definition of portfolio investment?


A portfolio investment is a hands-off or passive investment of securities
in a portfolio, and it is made with the expectation of earning a return.

What are the most important portfolio investments?


Some of the most important include the investor’s risk tolerance,
investment horizon and amount invested. For a young investor with limited
funds, mutual funds or exchange-traded funds may be appropriate portfolio
investments. For a high net worth individual, portfolio investments may
include stocks, bonds, commodities, and rental properties.

 Sharpe ratio:a measure that indicates the average return minus the
risk-free return divided by the standard deviation of return on an
investment

What does Sharpe ratio tell you?


The Sharpe ratio tells us how well an asset’s return compensates us for
the risk we take. When we compare two assets against a common
benchmark, the one with the greater Sharpe ratio is estimated to provide us
with a better return for the same risk – or the same return with a smaller
risk.

What does a high Sharpe ratio mean?


A higher Sharpe ratio indicates a higher return generated per unit of
risk taken. A higher Sharpe metric is always better than a lower one
because a higher ratio indicates that the portfolio is making better
investment decisions. Subtracting returns of a risk free investment from
average returns,...

What is the difference between Sharpe ratio and value at


risk?
The information ratio is similar to the Sharpe ratio, the main difference
being that the Sharpe ratio uses a risk-free return as benchmark whereas
the information ratio uses a risky index as benchmark

 money market
NOUN
1. the trade in short-term loans between banks and other financial
institutions.
"the fluctuations of the money market" ·

synonyms:
stock exchange · bourse

2. Best Money Market Accounts and Rates - May 2020


A money market account is a type of deposit account that pays interest on
deposits and allows withdrawals with some restrictions.

3. What Is a Money Market Account? -


A money market account is a savings account that may come with higher
interest rates than other savings accounts plus checks or a debit card. …

What Is A Money Market account?


A money market account is a savings account that may come with higher
interest rates than other savings accounts plus checks or a debit card.

Should I Open A Money Market account?


A money market account is worth considering if you’re looking for a safe
place to deposit a large chunk of money and earn some interest.

How to Choose A Money Market Account


If you decide a money market account is your best option, look for one with
the best rates and no monthly fees.

 What are mutual funds and how to invest in them?


A mutual fund is an investment vehicle that enables individuals to invest
in various asset classes like equity, debt, money market, and even
international markets, with comparatively lower risk and greater flexibility.

What is the difference between stocks and mutual funds?


The points given below are vital, so far as the difference between
stocks and mutual funds is concerned:

The collection of shares, which are owned by an investor signifying


his/her proportion of ownership is called stock...

While stocks are a form of direct investment, mutual funds are an


indirect investment.
Stocks offer ownership stake to the investor in a company. On the other
hand, mutual funds offer fractional ownership of basket of assets.

In the case of stocks, trading is done throughout the day when the
market is open...

The management and administration of stock are done by the investor


himself

What is mutual fund and its type?


A mutual fund is a type of investment company that pools money from
many investors and invests the money in stocks, bonds, money-market
instruments, other securities, or even cash.

Are mutual funds better than the stock market?


Stocks are riskier than mutual funds. By pooling a lot of stocks in a stock
fund or bonds in a bond fund, mutual funds reduce the risk of investing.
That reduces risk because, if one company in the fund has a poor manager,
a losing strategy, or even just bad luck, its loss is balanced by other
businesses that perform well.

 Holding Period
1. In a long position , the period of time during which one owns a
security . The holding period is important to calculating an
investment's returns and performance .

2. In a short sale , the period of time between the borrowing of


securities and the return to their owner . That is, the holding period is
the entire time elapsed...
What is a holding period stock?

The holding period of an investment is used to determine the taxing of


capital gains or losses. A long-term holding period is one year or more
with no expiration. ... Preferred stock must have a holding period of at
least 90 days during the 180-day period that begins 90 days before the
stock's ex-dividend date. Holding also applies when receiving new stock in
a company spun off from the original company in which the investor
purchased stock.

Investment holding period is the period over which an investment


is held and spans from the time of acquisition to the time of sale.
When analyzing a property it is necessary to assume a holding
period.

 A blackout period is a period of at least three consecutive


business days, but not more than 60 days during which the
majority of employees at a particular company are not
allowed to make alterations to their retirement or investment
plans. A blackout period usually occurs when major changes
are being made...

A Blackout Period (limited or denied access) in terms of 401k


retirement plans is an average of 60 days of the year during which
plan participants are NOT allowed to modify the structure and
covenants of their 401k retirement plans.

 A personal equity plan is an investment vehicle,


created in the U.K., that is introduced to encourage
individuals to build up tax-free income.
What is the difference between equity and investment?
Equity securities represent a claim on the earnings and assets of a
corporation, while debt securities are investments into debt instruments.
For example, a stock is an equity security, while a bond is a debt security.

stringent
ADJECTIVE

(of regulations, requirements, or conditions) strict, precise, and exacting.


synonyms:
strict · firm · rigid · rigorous · severe · harsh · tough · tight · exacting ·
demanding · inflexible · stiff · hard and fast · uncompromising · draconian
· extreme

 Issued shares is a term of law and finance for the


number of shares of a corporation which have been
allocated (allotted) and are subsequently held by
shareholders.
What is the difference between authorized and issued
shares?
While authorized share provides the upper limit beyond which company
cannot issue the shares, while outstanding shares refer to the number of
stocks that a company actually has issued to the shareholders.

What does issued stock refer to?


. Definition. The total number of a company's shares that have been
sold and are held by shareholders. Issued stock can be held both by
insiders and by the general public.
What is the difference between issued and outstanding?
The key difference between issued and outstanding shares is that issued
share capital includes the treasury shares whereas outstanding shares
do not include treasury shares (shares that have been repurchased by the
company and are held by the company in its own treasury). .

What does total shares issued mean?


Definition Issued shares is a term of law and finance for the quantity of
shares of a corporation, which have been sold or awarded and are
subsequently held by the shareholders. The number of issued shares
usually a subset of the total authorized shares, which the board of directors
and/or shareholders have agreed to distribute under certain circumstances.
Shares issued = Shares outstanding + Treasury stock

What is the purpose of a company issuing stock?


Corporations issue stocks and bonds for a single purpose: to raise money
from investors. Companies may seek investor funding for a variety of
reasons, including to fuel expansion plans, to fund acquisitions and to meet
the organization's obligations during temporary financial setbacks.

 Treasury Shares. Definition: Shares issued in the name of the


corporation. The shares are considered issued, but not
outstanding. Usually refers to stock that was once traded in
the market but has since been repurchased by the
corporation.

What is the difference between treasury shares and retired


shares?
Treasury stock can be made available for employee incentive plans or
reissued for sale to the public, whereas retired shares are canceled and
cannot be used for any purpose. Retired shares reduce both the number of
issued and outstanding shares of stock, typically making each share of
outstanding stock proportionately more valuable.

 Retained unrestricted earnings is a term used in the


corporate world to refer to profits a business has
accumulated since its creation that it has not distributed to
stockholders as dividends.

Restricted retained earnings is the amount of net assets that are


legally or contractually cannot be issued as dividends and must stay
within the company. In other words, restricted retained earnings is
the amount of equity that must stay in the company.

Unappropriated retained earnings refer to any portion of


company earnings that are not classified as appropriated retained
earnings. Appropriated retained earnings are set aside by the
board and are assigned to a specific purpose. Unappropriated
retained earnings refer to any portion of company earnings that
are not classified as appropriated retained earnings.

 Revenue is the total income earned from the sale of


goods and services, while retained earnings is the
amount of net income retained by a company. Both
revenue and retained earnings are important in
evaluating a company's financial health, but highlight
different aspects of the financial picture. 

At their most basic, appraisal rights, also known as


dissenter’s rights, give an investor the right to demand that a
court determine the value of his or her stock that would
otherwise be subject to divesture.
Dissenters' Rights. Under various forms of state legislation, dissenting
shareholders of a corporation are entitled to the right to receive a cash
payment for the fair value of their shares, in the event of a share-for-share
merger or acquisition to which the shareholders do not consent.
 Author: Will Kenton

cumulative voting
[
a system of voting in an election in which each voter is allowed as many
votes as there are candidates and may give all to one candidate or varying
numbers to several.

The advantage of cumulative voting is that it ensures that a minority


group of shareholders or unit owners can be represented on the
board,"

 There are many types of transactions that can be


conducted between related parties, such as sales,
asset transfers, leases, lending arrangements,
guarantees, allocations of common costs, and the
filing of consolidated tax returns.
Why do we disclose related party transactions?
Disclose all material related party transactions, including the nature of
the relationship, the nature of the transactions, the dollar amounts of the
transactions, the amounts due to or from related parties and the
settlement terms (including tax-related balances), and the method by
which any current and deferred tax expense is allocated to the members of
a group.
……………………………………………………………………………
Jayson: Kindly continue-definition of terms indicating,i.e.

From SSS Regular Meeting- materials dated______

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From SSS RMIC materials dated______

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From SSS Audit dated________

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From PLDT Material dated_______

……..

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From PTNC material dated_______

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Meanings of:
-PSE Rules

Philippine Stock Exchange (PSE) is a private non-profit and non-stock


organization created to provide and maintain a fair, efficient, transparent, and
orderly market for the purchase and sale of securities such as stocks, warrants,
bonds, options, and others.

The PSE bring together companies which aim to raise capital through the issue of
new securities. Through the listing of their share in the stock exchange, companies
can have easier access to funds. Raising new capital through an additional public
offering is easier and less expensive when the company is already listed in the
Exchange. Therefore, the PSE plays a vital role in the financing of productive
enterprises that use the funds for growth and expansion of new jobs. It is therefore
essential to the growth of the Philippine economy.

-TEL/PX/PXP

TEL - stock name of TEL - PLDT


PX - Philex Mining
PXP - PXP Energy Corp

-Psei level
The Philippine Stock Exchange Composite Index (PSEi), formerly called
Phisix, is a fixed basket of thirty (30) common stocks of listed companies, carefully
selected to represent the general movement of the stock market. In other words, it
is the benchmark measuring the performance of the Philippine stock market.
The selection of these companies is based on a specific set of criteria. Under the
revised policy on index management, companies should meet three (3) criteria to
qualify under the PSEi:

1. The company’s free float level must be at least 12%.

2. The company must rank among the top 25% in terms of median daily value in
nine out of the twelve-month period in review.

3. Ranking of TOP 30 qualified companies based on full market capitalization.

-Portfolio MV

What Is a Minimum Variance Portfolio?


A minimum variance portfolio is a collection of securities that combine to
minimize the price volatility of the overall portfolio. Volatility is a statistical
measure of a particular security's price movement (ups and downs).

An investment’s volatility is interchangeable in meaning with “market risk”.


Therefore, the greater the volatility of an investment (the wider the swings up and
down in price), the higher the market risk. So, if you want to minimize risk, you
want to minimize the ups and downs.

-B vol

Buy Volume- Broadly speaking, volume in investing means the total amount of a security that
changes hands over a given period of time. This can refer to shares of an individual stock, the
number of options contracts traded, or the total number of shares exchanged within an index or
an entire stock market. Daily volume is the most commonly used time period, but volumes over
longer or shorter periods of time can be useful as well.

The term "buy volume" often is used interchangeably with the words "ask volume." When a
seller offers a given number of shares at a specific price, it is up to the buyer whether he will
accept the price that the seller is asking for it; that's why it's called an "ask volume."
In many situations, a disproportionate number of buyers can result in the price of a stock
rising quickly. As the trading volume increases, this is usually a good indicator that the price
per share will continue to rise over the short term.
There is, of course, no definitive prediction that can be used to accurately explain all price
movements of a stock. With that in mind, investors should engage in the practice of DYOR,
or "Do Your Own Research," to determine what the next action should be with regard to
their trades.

-B val
Buy Value or Value Investing - is an investment strategy that involves
picking stocks that appear to be trading for less than their intrinsic or book value. Value
investors actively ferret out stocks they think the stock market is underestimating. They
believe the market overreacts to good and bad news, resulting in stock price
movements that do not correspond to a company's long-term fundamentals. The
overreaction offers an opportunity to profit by buying stocks at discounted prices—on
sale.
-B price

Buy Price or purchase price is the price an investor pays for an investment, and
the price becomes the investor’s cost basis for calculating gain or loss when
selling the investment. The purchase price includes any commission or sales
charges paid for the investment, and the weighted average cost is used for
multiple purchases of the same security.

-S vol

Sell Volume - The term "sell volume" is directly connected to the phrase "bid volume."
When a given stock has a higher selling volume than buy volume, the most common price
behavior to follow would be a downward motion. This is because a large number of traders
are willing to sell their stock at the current bid price to offload their stock as fast as possible.
As the overall trading volume decreases, it is quite likely that prices will fall more rapidly if
sell volume still outweighs buy volume, given the fact that individual trades can reduce the
price when fewer buyers are propping up the buy volume.
A low trading volume can induce volatility that both positively and negatively affects current
pricing. This is due in large part to a lack of liquidity, or the ability to quickly divest of your
holdings in the event of unfavorable pricing action. With that in mind, traders should not only
keep in mind the current levels of buy and sell volume but also the overall trading volume,
as this will equally affect their holdings.

-S val

Sell Value or Value selling is a sales technique that leverages customer


anticipation of enjoying the benefits of the item for a sale. With this approach,
the sales conversation focuses on how the buyer’s life will be improved with
the asset at hand, rather than the actual features and hard-facts related to the
product.

-S price

Sell Price or Selling Price refers to the market value, or agreed exchange value,
that will purchase a definite quantity, weight, or other measure of a good or
service. As the consideration given in exchange for transfer of ownership, price
forms the essential basis of commercial transactions. It may be fixed by a contract
(such as sale of goods contract), left to be determined by an agreed upon formula
at a future date, or discovered or negotiated during the course of dealings
between the parties involved. In commerce, it boils down to what (1) a buyer is
willing to pay, (2) a seller is willing to accept, and (3) the competition is allowing
to be charged.

-Est Trading Income

Estimated Trading Income (Est Trading Income) Trading Income The category
“trading income” encompasses both income from a trade, for example plumbing or
building and income from a profession or vocation. A profession would include
accountancy or law. A vocation includes acting, ballet dancing, theatrical performing,
sport etc.

-EC Fund

What Is an Employee Contribution Plan?


An employee contribution plan is a type of employer-sponsored savings plan. By
choosing to participate in the plan, employees contribute a percentage of their
paycheck into the plan, which is then invested on their behalf by a third-
party plan administrator. Employers, meanwhile, will typically match a portion of
the employee's contributions.

Unlike a defined benefit plan, the employee does not know what the value of their
savings plan will be in the future. Instead, that future value depends on a number
of factors, including the size of contributions made by the employee, the extent to
which their employer matched those contributions, and the investment
performance of the savings plan itself.

-PF Fund
Provident fund is another name for pension fund. Its purpose is to provide employees with lump
sum payments at the time of exit from their place of employment. This differs from pension funds,
which have elements of both lump sum as well as monthly pension payments. As far as differences
between gratuity and provident funds are concerned, although both types involve lump sum
payments at the end of employment, the former operates as a defined contribution plan, while the
latter is a defined benefit plan.

-SDTD – refers to Strategic Decision and Technical Support Division of SSS

-EID - refers to EQUITIES INVESTMENTS DIVISION (EID) of Social Security System


-Round off
rounding means reducing the number of decimals important in a number by “rounding” the
number to the nearest value, either up or down.

-Telco
a telecommunication company.

-YTD

What Is Year to Date (YTD)?


Year to date (YTD) refers to the period of time beginning the first day of the
current calendar year or fiscal year up to the current date. YTD information is
useful for analyzing business trends over time or comparing performance data to
competitors or peers in the same industry. The acronym often modifies concepts
such as investment returns, earnings, and net pay.

-Voyager
Voyager is an investment app. It provides you with access to two managed funds, which
directly invest in shares. One fund is largely invested in global technology businesses,
as well as healthcare and consumer discretionary companies (like Amazon). The other
is invested in big companies across industries.

-SMES

What is a Small and Mid-size Enterprise (SME)?


Small and mid-size enterprises (SMEs) are businesses that
maintain revenues, assets or a number of employees below a certain threshold.
Each country has its own definition of what constitutes a small and medium-sized
enterprise (SME). Certain size criteria must be met and occasionally the industry
in which the company operates in is taken into account as well.

Though small in size, small and mid-size enterprises (SMEs) play an important
role in the economy. They outnumber large firms considerably, employ vast
numbers of people and are generally entrepreneurial in nature, helping to
shape innovation.
-SMS
Short Message Service (SMS) is the most basic communications technology for mobile data
transfer and is characterized by the exchange of short alphanumeric text messages between
digital line and mobile devices. SMS messaging's key influential factor is affordability.

-Draconian
The word "draconian" has come to mean something that is unusually harsh. So, if "draconian
measures" are implemented (say, in a country's budget), then very harsh measures are thought
to have been implemented. That's the definition of "draconian measures".

-PCP Nominee Corp

What Are Participating Convertible Preferred Shares


(PCPs)?
A participating convertible preferred (PCP) share is a financial term referring to a
security most often issued as part of a venture capital financing deal before a
company experiences an initial public offering (IPO). Participating convertible
preferred shareholders enjoy many advantages over investors who come later to
the game after a company becomes a more established entity.

-benchmark

A benchmark is a standard against which the performance of a security, mutual


fund or investment manager can be measured. Generally, broad market and
market-segment stock and bond indexes are used for this purpose. It's an
element of a Sigma Six black belt.

…………………………………………

A. Financial Highlights
Service Revenue

What is Service Revenue?


Revenue is the income generated from normal business operations and includes
discounts and deductions for returned merchandise. It is the top line or gross
income figure from which costs are subtracted to determine net income.

By business segments (Data/voice/SMS


-Ebitda

EBITDA: Earnings before interest, tax, depreciation and


amortization (EBITDA) is a measure of a company's operating
performance. Essentially, it's a way to evaluate a company's
performance without having to factor in financing decisions,
accounting decisions or tax environments

-Telco-Core Income & Reported Net Income


-Capital Management

What Is Working Capital Management?


Working capital management is a business strategy designed to ensure that a
company operates efficiently by monitoring and using its current assets and
liabilities to the best effect. The primary purpose of working capital management
is to enable the company to maintain sufficient cash flow to meet its short-term
operating costs and short-term debt obligations.

A company's working capital is made up of its current assets minus its current
liabilities.

-Debt profile
-Capital Expenditure

What Are Capital Expenditures – CapEx?


Capital expenditures, commonly known as CapEx, are funds used by a company
to acquire, upgrade, and maintain physical assets such as property, buildings, an
industrial plant, technology, or equipment.

CapEx is often used to undertake new projects or investments by the


firm. Making capital expenditures on fixed assets can include everything from
repairing a roof to building, to purchasing a piece of equipment, to building a
brand new factory. This type of financial outlay is also made by companies to
maintain or increase the scope of their operations.

-Selected Highlights : Fixed Teler/wireless network

B. Performance Highlights
--Individual business
Individual business  means a sole proprietor, member of a limited liability company, partnership,
limited liability partnership or self-employed person.

-Home business
A home business (or "home-based business" or "HBB") is a small business that operates from the
business owner's home office. In addition to location, home businesses are usually defined by
having a very small number of employees, usually all immediate family of the business owner, in
which case it is also a family business. Home businesses generally lack shop frontage, customer
parking and street advertising signs. Such businesses are sometimes prohibited by
residential zoning regulations.[1]

-Enterprise business
A business enterprise is a for-profit entity. There are different ways a business enterprise can
be organized for legal and tax purposes. Whatever the structure, the common element is the
for-profit aspect.

--International/carrier business
International business refers to the trade of goods, services, technology, capital and/or knowledge
across national borders and at a global or transnational scale.
It involves cross-border transactions of goods and services between two or more countries.
Transactions of economic resources include capital, skills, and people for the purpose of the
international production of physical goods and services such as finance, banking, insurance, and
construction. International business is also known as globalization.

C. Financial Highlights /Ja 2020 Flah Report

-Segment Service Revenues


SEGMENT REVENUE is revenue, including intersegment revenue, which is directly attributable or
reasonably allocable to a segment. Includes interest and dividend income and related securities
gains only if the segment is a financial segment (bank, insurance company, etc.).

-Wireless- Top-up

Refers to any wireless internet connection including the use of mobile internet
data.

-Consolidated Ebitda

-Telco Core Income


-Payload & data Use