公司理財(cái)公式總結(jié)

1、Assets=LiabilitiesStockholders’EquityAssets=(CurrentFixed)AssetsWkingCapital=CurrentAssets–CurrentLiabilitiesRevenuesExpenses=IncomeSalesRevenues()Costofgoodssold(=)Grossprofit毛利()Administrativemarketingcosts行政管理營銷成本Depr

2、eciation折舊(=)OperatingProfit營業(yè)利潤()InterestsTaxes(=)income凈收益()Dividendstopreferredstocks(=)EarningavailabletocommonshareholdersCashFlowFromAssets(CFFA)=CashFlowtoCreditsCashFlowtoStockholdersCashFlowFromAssets=OperatingC

3、ashFlow營運(yùn)現(xiàn)金流量–CapitalSpending凈資本支出–ChangesinNWC凈營運(yùn)資本的變化OCF(IS)營運(yùn)現(xiàn)金流=EBIT息稅前利潤depreciation–taxes=$547NCS凈資本支出(BSIS)=endingfixedassets–beginningfixedassetsdepreciation=$130ChangesinNWC(BS)=endingNWC–beginningNWC=$330CFFA=5

4、47–130–330=$87CFtoCredits(BSIS)=interestpaid–newbrowing=$24CFtoStockholders(BSIS)=dividendspaid–newequityraised=$63CFFA=2463=$87CurrentRatio流動(dòng)比率=CACL22561995=1.13timesQuickRatio速動(dòng)比率=(CA–Inventy)CL(2256–301)1995=.98timesC

5、ashRatio現(xiàn)金比率=CashCL6961995=.35timesNWCtoTotalAssets=NWCTA(2256–1995)5394=.05IntervalMeasure區(qū)間測(cè)量=CAaveragedailyoperatingcosts2256((20061740)365)=219.8daysTotalDebtRatio資產(chǎn)負(fù)債率=(TA–TE)TA(5394–2556)5394=52.61%DebtEquity資本負(fù)債率=

6、TDTE(5394–2556)2556=1.11timesEquityMultiplier權(quán)益乘數(shù)=TATE=1DE11.11=2.11Longtermdebtratio長期債務(wù)率=LTD(LTDTE)843(8432556)=24.80%TimesInterestEarned利息保障倍數(shù)=EBIT息稅前利潤EarningsBefeInterestTaxInterest11387=162.57timesCashCoverage現(xiàn)金涵蓋比

7、率=(EBITDepreciation)Interest(1138116)7=179.14timesInventyTurnover存貨周轉(zhuǎn)=CostofGoodsSoldInventy2006301=6.66timesDays’SalesinInventy銷售庫存的天數(shù)=365InventyTurnover3656.66=55daysReceivablesTurnover應(yīng)收帳款周轉(zhuǎn)率=SalesAccountsReceivable50

8、00956=5.23timesAPR年度成本百分率EAREffectiveAnnualRate此處均為年利率，有時(shí)候給了年利率要換成月、季利此處均為年利率，有時(shí)候給了年利率要換成月、季利1mAPR1EARm?????????率、天利率?。?！自己體會(huì)?。。?！率、天利率?。?！自己體會(huì)?。。?！ttr)(1FVrr)(111CValueBond????????????????BondValue=PVofcoupons息票PVofpar票面價(jià)值B

9、ondValue=PVofannuity年金PVoflumpsum總金額CurrentYield現(xiàn)價(jià)息率=annualcouponpriceYieldtomaturity=currentyieldcapitalgainsyield資本利得收益率(1R)=(1r)(1h)whereR=nominalrater=realrateh=expectedinflationrateApproximation近似法R=rhgRDgRg)1(DP100