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Related Flashcards
Related Topics
Cards In This Set
| Front | Back |
|
Growth
Sustainable Growth Rate |
= Return on Equity * (1 - Dividend Payout Ratio) |
|
Profitability
Return on Equity (ROE) |
= Net Income/Average Common Equity |
|
Profitability
Return on Equity (ROE) |
= (Net Income - After-tax Nonrecurring Items) / Average Common Equity |
|
Profitability
Return on Net Operating Assets (RNOA) |
= Net Operating Income (NOI) / Average Net Operating Assets (NOA) OR = Net Operating Margin * Net Operating Asset Turnover where NOM = Net Operating Income / Sales NOAT = Sales / Average Net Operating Assets |
|
Profitability
Advanced Dupont Model ROE |
= ROE = RNOA * Leverage * Spread where Leverage = Average NFO / Average Common Equity Spread = RNOA - NBC |
|
Profitability
Net Borrowing Costs (NBC) |
= Net Financing Expense (NFE) / Average Net Financial Obligations (NFO) |
|
Profitability
ROE Advanced Dupont Model |
ROE = (NOI/NOA) + (NFO/Common Equity) * ((NOI/NOA) - (NFE/NFO)) RNOA = Net Operating Margin * Net Operating Asset Turnover = ((NOI/Sales) * (Sales/NOA)) |
|
Profit Margin
Gross Margin |
= (Sales - COGS)/ Sales |
|
Profit Margin
EBITDA |
= (Sales - COGS - R&D Expense -SG&A Expense) / Sales |
|
Profit Margin
EBIT Margin |
= Earnings before Interest and Taxes/ Sales |
|
Profit Margin
Net Operating Margin before Nonrecurring Items |
= (Net Operating Income + After-tax Nonrecurring Items) / Sales |
|
Turnover Ratio
Net Working Capital Turnover |
= Sales/ Average Net Working Capital where NWC = Current Operating Assets - Current Liabilities |
|
Turnover Ratio
Average Days Outstanding |
= 365/Turnover Ratio Page 105 |
|
Basic Dupont Model
|
Profit Margin * Asset Turnover * Leverage
NI/Sales * Sales/Total Assets * Total Assets/Equity |
|
Inventory Turnover Ratio
|
COGS / Average Inventory
|
