Professional Documents
Culture Documents
GBA 645
Formula Sheet
Prepared by P. Sarmas
Tax Liability
Taxable Income
Cash Flow from Assets = Cash Flow to Creditors + Cash Flow to Stockholders
Operating Cash Flow
- Net Working Capital
- Net Capital Spending
Cash Flow from Assets
Interest Paid
Dividend Paid
- Net New Borrowing - Net New Equity
Cash Flow to Creditors Cash Flow to Stockholders
EBIT
+ Depreciation
- Taxes
Operating Cash Flow
Current Ratio
Quick Ratio
Ending Equity
- Beginning Equity
- Addition to Retained Earnings
Net New Equity
Current Assets
Current Liabilities
Cash Ratio
Cash
Current Liabilities
Total Debt
Total Assets - Total Equity
Total Assets
Total Assets
Total Debt
Total Equity
EBIT
Interest
EBIT Depreciation
Interest
Equity Multiplier
Total Assets
Equity
EM 1
Sales
Total Assets
Sales
Net Fixed Assets
Inventory Turnover
1
1
D
TA
Sales
Cost of Goods Sold
OR
Inventory
Inventory
ACP or DSO
Receivables
Sales
365
Net Income
Sales
ROA
Net Income
Total Assets
ROE
Net Income
Common Equity
Return on Capital
EBIT
Total Assets
Net Income
No. Shares Outstanding
ROA * b
1 - (ROA * b)
ROE * b
1 - (ROE * b)
FV PV (1
r m*t
) PV * FVIF r
,mt
m
m
(1 r ) t 1
C * FVIFAr , t
r
FVA C *
C * PVIFAr , t
t
r r * (1 r )
PVA C *
PVPerpetuity
C
r
(1 r ) t 1
* (1 r ) C due * FVIFAr , t * (1 r )
r
FVA C due *
1
FV
Bond Value C *
t
r r * (1 r )
(1 r ) t
1
1
PVA C due *
* (1 r ) C due * PVIFAr , t * (1 r )
t
r r * (1 r )
(1+R) = (1+r)*(1+h)
Coupon
FV
Coupon
Current Yield
VB
Coupon Rate
1
1
FV
t
(1 YTM ) t
YTM YTM * (1 YTM )
VB C *
P0
P0
D1
1
(1 r )
D1
(1 r )
D2
(1 r )
D2
(1 r )
D3
(1 r ) 3
D3
(1 r )
........
.....
D
r
D1
P0
rg
D
r 1g
P0
P0
Dn D0 * (1 g ) n
NPV
t 1
CFt
(CF0 )
(1 r ) t
CFt
(1 IRR)
t 1
PBP t
PI
(CF0 ) 0
CFt
(1 r )
t 1
CF0
Dn
(1 r )
Dn 1
1
*
n
r g c (1 r )
Net Income
t 1
ARR
n
Beginning Value Investment Ending Value Ivestment
2
n
COFt
(1 r )
t o
CIF * (1 r )
n t
t 1
(1 MIRR) n
Inventory Period
365
Inventory Turnover
Receivable Turnover
Credit Sales
Average Accounts Receivable
Receivable Period
365
Receivable Turnover
Payable Turnover
Payable Period
Average
365
Payable Turnover
Beginning End
2
VC = Q*v
TC = VC + FC
NI = (S FC VC D)*(1-T)
FC OCF
Pv
FC D
Q Accounting BEP
Pv
FC
QCash BEP
Pv
FC OCF *
Q Financial BEP
Pv
FC
DOL 1
OCF
Q general
Q ( P v)
Q ( P v) FC
Q ( P v ) FC
EBIT
DFL
Pt 1 Pt
Pt
R
t 1
VAR ( R )
2
2
(
R
R
)
(
R
R
)
.........
(
R
R
)2
1
2
T
T 1
VAR(R)
E ( R) Pr . s * Rs
s 1
2 Pr .s * [ Rs E ( R )] 2
s 1
Pr * [ R
s 1
E ( R )]2
p W j * j
j 1
W A WB ..... W N 1
Slope
RE
E(R j ) R f
D1
D * (1 g )
g 0
g
P0
P0
RE R f E * ( RM R f )
RP
D
P0
E
P
D
* RE * RP
* R D * (1 t c )
V
V
V
V EPD
WACC
YTM approximate
FV P0
n
FV 2 P0
3
Coupon
EPS
ROE
Equity
Equity
Vu
EBIT (1 T )
Ru
Vl
VL VU
VL VU Tc * D
RE R A ( R A RD ) * D / E
D
L U 1 (1 T )
E
EBIT K d D (1 T )
Ks
V SD
V D0
P
n0
n1 n0
D
P
(1 Tc )(1 Ts )
Vl Vu 1
D
(1 Td )