公司理财公式总结

Ａssets =Ｌiabilities + Stoｃｋholders’ Eqｕity

Aｓｓets =（Ｃｕｒｒent + Fiｘｅd）Assets

Net Ｗorking Caｐital= Cuｒrent Asｓｅts–ＣuｒrenｔＬｉabilｉties

Revenuｅs — Eｘpenses =Ine

Saleｓor Ｒevenｕeｓ（－）Cost of gｏｏdｓsoｌｄ（=）Ｇｒoｓsｐｒofｉt毛利（—) Aｄministratｉvｅ/ｍarｋetinｇcosts行政管理/营销成本, Dｅpreciaｔｉｏn折旧（=) Opｅr ａting Proｆｉt营业利润(—）Ｉnterｅsｔs, Ｔaxes

(=）Net ｉｎe净收益（-) Ｄividends to ｐrefｅrred ｓtockｓ（=）Earning avaｉｌaｂle to mｏn shａrｅholdｅｒs

Caｓh Flow From Assｅｔs(CFＦA) =Ｃａsh Flow to Ｃreｄitors+ Ｃａsh Ｆlow to S ｔockｈolｄers

Cash Fｌow Fｒom Assets = Operatｉng Cash Flow营运现金流量–NｅｔCapitaｌSpenｄing净资本支出–Cｈanｇｅs in NWC净营运资本得变化

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）= enｄiｎｇnｅt fixｅｄasｓｅｔｓ–beｇiｎningｎet fixed asｓｅts + deprecｉａｔion = ＄1３0

Changes iｎNWＣ(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 anｄＩ/Ｓ）= dividenｄs paid – net ｎew eｑｕity raiseｄ= $６3

CFＦＡ= 24 ＋63=＄８７

Ｃuｒrent Rａｔiｏ流动比率= CA ／CＬ2,25６/ 1，9９5 ＝１、1３times

QｕickＲａtｉo 速动比率= （CA – Invenｔory）/ CL （２，256 – 301）/ １,995 =、98 times

ＣａsｈRatio 现金比率= Cash / CL 696/ 1,995 = 、3５tiｍes

NWC to Toｔal Assets = NWC /ＴA (２,２56– 1,995）／５,３９４＝、05

Inteｒｖal Measuｒｅ区间测量=CA /averagｅｄａily operaｔiｎｇcosts 2，2５6 / (（2，00６+1，74０)/36５）= 219、8ｄays

Ｔotal DebｔRatio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EarnｉngｓBefoｒｅIｎｔｅrｅｓt and Ｔaｘ／Interｅst １,13８/ ７= 1６2、5７tｉmes

ＣaｓｈCovｅrage现金涵盖比率= (EBIＴ+ Ｄepreciaｔｉon）/ Ｉnterｅsｔ

(1,138 + 11６）/ 7= 1７９、1４ｔimeｓ

ＩnventｏryＴurnoveｒ存货周转= Ｃｏｓt of GoodｓＳolｄ/ Inｖentorｙ

2,006 /３01 ＝6、66 times

Days’ Sａleｓin Inveｎｔory 销售库存得天数= 36５/ ＩnventｏrｙＴｕrnｏver

365 / 6、66 = ５５ｄays

Receivａｂles Turnｏver应收帐款周转率＝Sales / Accounｔs Ｒｅceｉｖａble5，000 / 9５6 = 5、23 times

Days’ Sales ｉn Rｅｃｅivaｂleｓ=３65／Reｃeivables Tｕrnｏvｅr36５/ 5、23 = 7０dａys

Ｔotａl Assｅt Turnovｅr= Ｓａles / ToｔalＡssｅtｓ

5，000/５，394＝、９3

Ｉt is not unuｓual for ＴAT < 1，esｐeciａllｙif ａｆiｒm has ａｌａrge ａmoｕnt of fixed aｓsｅtｓ

NWC Ｔurｎover =Salｅｓ/ NWＣ5，000 /（2，２56 –1，９９5）= １9、1６tiｍes

Fiｘed AssetＴｕrｎｏver = Saｌes /ＮＦＡ5，0０0/３,1３8 = 1、５9 times Profit Marｇin利润率= Net Ｉne ／Saｌｅs ６89/ 5,0０0 = １3、7８％

Rｅtuｒn on Ａsｓets资产收益率（ROA）= Net Ine/ Ｔotal Assets68９/ 5，394 = １2、７7％

Ｒｅturn ｏn Eqｕitｙ股本回报率（ROＥ) =NｅｔIne / Total Equiｔｙ689 / ２，556 ＝26、96％

PE Ratio市盈率= Pｒiｃｅper ｓhａre每股价格/ Eａｒniｎgsｐer ｓｈａre每股收益87、65/ 3、61= 24、28tｉmｅs

Markｅt—ｔｏ－ｂook ｒaｔio市价与账面值比率=markｅtｖａlｕe per share／ｂook vａlｕe peｒshare每股市价/每股账面价值87、65 / (2,５56 /1９０、9)＝6、55t ｉmeｓ

ＲOE = PＭ＊ＴAT * EM

FutｕreＶalｕes

FV = PV（1 +ｒ)t PＶ=FＶ/ （1 + r）t

FV ＝fｕtｕｒｅｖaｌuｅ

PV = ｐreseｎt value

ｒ= period inteｒest ｒatｅ,ｅｘpressed as a decｉｍal（用小数表示）

t =ｎumber oｆｐｅｒｉoｄｓ

Perｐｅtuitｙ永续年金:PV ＝C / r

Annuiｔieｓ年金:

Ｇrowｉng Ａｎnuitｙ增长年金

永久

ＡＰR年度成本百分率EAR ＥfｆecｔivｅAnnual Rａte

此处均为年利率，有时候给了年利率要换成月、季利率、天利率！！！自己体会！！！！

Bond Valｕe＝PＶoｆcoupoｎs息票＋PＶoｆpar票面价值

BondＶalｕe = PV of annｕity年金+PV of lump ｓｕm总金额

Cuｒrent Yｉｅｌd现价息率＝ａnnｕal ｃoｕpon / price

Ｙｉeｌd to ｍａturｉty = cｕrrent yieｌｄ+ｃapitaｌgａinｓｙiｅld资本利得收益率(１＋Ｒ）= (1+ r）(1+ ｈ）, ｗherｅ

R＝nomiｎaｌraｔe