财管公式总结

财管公式总结(共3页) -本页仅作为预览文档封面，使用时请删除本页-
Chapter 2:
Ⅰ. The cash flow identity
Cash flow from assets= cash flow to creditors(bondholders)
+ cash flow to stockholders(owners)
Ⅱ. Cash flow from assets
cash flow from assets= operating cash flow
-Net capital spending
-Change in net working capital(NWC)
Where
Operating cash flow= EBIT + depreciation – taxes （折旧不消耗现金，因为原来的折旧被减了）
Net capital spending= ending net fixed assets – beginning net fixed assets + depreciation
Change in NWC= ending NWC – beginning NWC [NWC= CA – CL]
Ⅲ. Cash flow to creditors (bondholders)
Cash flow to creditors= interest paid – net new borrowing
[在”long-term debt”里看]
Ⅳ. Cash flow to stockholders (owners)
Cash flow to stockholders= dividends paid – net new equity raised [在”common stock and pai d-in surplus”里看]
Chapter 3
Ⅰ. Short-term solvency, or liquidity, ratios
Current ratio=
Quick ratio=
Cash ratio=
Net working capital to total assets=
Interval measure（间隔时间指标）=
Ⅱ. Long-term solvency, or financial leverage, ratios
Total debt ratio=
Debt-equity ratio=
Equity multiplier=
Long-term debt ratio=
Times interest earned ratio=
Cash coverage ratio=
Ⅲ. Asset management, or turnover, ratios
Inventory turnover= (COGS!!!)
Days’ sales in inventory=
Receivables turnover=
NWC turnover=
Fixed asset turnover=
Total asset turnover=
Ⅳ. Profitability ratios
Profit margin=
ROA=
ROE=
ROE=
Ⅴ. Market value ratios
Price-earnings ratio= [EPS= ] PEG ratio=
Price-sales ratio=
Market-to-book-ratio=
Tobin’s Q ratio=
Enterprise value-EBITDA ratio=
Chapter 4
Ⅰ. Internal Growth Rate
Internal growth rate=
Ⅱ. Sustainable Growth Rate
Sustainable growth rate=
[b=plowback (intention) ratio=]
[Addition to retained earnings= net income – dividends] [资产负债表：
CA, FA CL,
LTD,
E[E=CS+RE]
利润表：
S,NI,RE,Div
Chapter 5
Ⅰ. =C [The term is called the future value factor]Ⅱ. PV= [The term is called the present value factor]
Ⅲ. PV=
Chapter 6
Ⅰ. = C [The term is called the annuity future value factor]
Ⅱ. PV= C [The term is called the annuity present value factor]
Ⅲ. PV for a perpetuity=
Ⅳ. Growing annuity present value= C
Ⅴ. Growing perpetuity present value= C
Ⅵ. EAR（实际年利率）= [m为一年中的复利次数]。