公司理财公式总结

Assets = (Curre nt + Fixed) Assets

Net Working Capital二 Current Assets -Current Liabilities

Reve nues - Expe nses = In come

Sales or Reve nu es(-) Cost of goods sold(=) Gross prof毛禾U (-) Admi

nistrative/marketi ng

costs行政管理/营销成本，Depreciation折旧(=)Operating Profit 营业利润(-)Interests,

Taxes

(=)Net in come 净收益(-)Divide nds to preferred stocks(=) Earni ng available to com mon

shareholders

Cash Flow From Assets (CFFA) = Cash Flow to Creditors + Cash Flow to Stockholders Cash Flow From Assets = Operati ng Cash Flowt 运现金流量—Net Capital Spending 净资本支出-Cha nges in NWC净营运资本的变化

OCF (l/S)营运现金流二 EBIT 息税前利润+ depreciation - taxes = $547

NCS 净资本支出(B/S and I/S) = ending net fixed assets- beginning net fixed assets +

depreciation = $130

Cha nges in NWC (B/S) = en di ng NWC -begi nning 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 and I/S) = divide nds paid -net new equity raised = $63

CFFA = 24 + 63 = $87

Curre nt Ratio 流动比率=CA / CL 2,256 / 1,995 = 1.13 times

Quick Ratio 速动比率=(CA Tnventory) / CL (2,256 -301) / 1,995 = .98 times Cash Ratio 现金比率=Cash / CL 696 / 1,995 = .35 times NWC to Total Assets = NWC / TA (2,256 -1,995) / 5,394 = .05

Interval Measure 区间测量= CA / average daily operating costs 2,256 / ((2,006 +

1,740)/365) = 219.8 days

Total Debt Ratio资产负债率二(TA—TE) / TA (5,394 —2,556)/ 5,394 = 52.61% Debt/Equity 资本负债率二 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 长期债务率二 LTD / (LTD + TE)

843 / (843 + 2,556) = 24.80%

Times Interest Earnec h息保障倍数二 EBIT 息税前利润Earnings Before Interest and Tax /

Interest 1,138 / 7 = 162.57 times

Cash Coverage现金涵盖比率二(EBIT + Depreciation) / Interest

(1,138 + 116) / 7 = 179.14 times

Inven tory Turno ver 存货周转=Cost of Goods Sold / Inven tory

2,006 / 301 = 6.66 times

Days' Sales in Inven tory售库存的天数=365 / Inven tory Turno ver

365 / 6.66 = 55 days

Receivables Turnover应收帐款周转率二 Sales / Accounts Receivable 5,000 / 956 = 5.23

times

Days' Sales in Receivaebsl= 365 / Receivables Turnover 365 / 5.23 = 70 days

Total Asset Turnover = Sales / Total Assets

5,000 / 5,394 = .93

It is not unusual for TAT < 1, especially if a firm has a large amount of fixed assets NWC Turnover = Sales / NWC 5,000 / (2,256 —1,995) = 19.16 times Fixed Asset Turnover = Sales / NFA 5,000 / 3,138 = 1.59 times