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1. Market dividend yield is calculated by dividing the dividend paid by the market price per share. Market capitalization is calculated by multiplying the market price by the number of shares.
2. Book value is total assets minus current liabilities and provisions. Book value per share is calculated by dividing the book value by the number of shares. Net assets value approach values a company based on its assets minus debt, divided by the number of shares.
3. Current yield is calculated by dividing the annual coupon payment by the current price of the bond. The value of a coupon bond is calculated using the present value of its future coupon payments plus maturity value.
Descrizione originale:
Provides important formulas included in Strategic Finance
1. Market dividend yield is calculated by dividing the dividend paid by the market price per share. Market capitalization is calculated by multiplying the market price by the number of shares.
2. Book value is total assets minus current liabilities and provisions. Book value per share is calculated by dividing the book value by the number of shares. Net assets value approach values a company based on its assets minus debt, divided by the number of shares.
3. Current yield is calculated by dividing the annual coupon payment by the current price of the bond. The value of a coupon bond is calculated using the present value of its future coupon payments plus maturity value.
1. Market dividend yield is calculated by dividing the dividend paid by the market price per share. Market capitalization is calculated by multiplying the market price by the number of shares.
2. Book value is total assets minus current liabilities and provisions. Book value per share is calculated by dividing the book value by the number of shares. Net assets value approach values a company based on its assets minus debt, divided by the number of shares.
3. Current yield is calculated by dividing the annual coupon payment by the current price of the bond. The value of a coupon bond is calculated using the present value of its future coupon payments plus maturity value.
Market Price per share 2 Market Capitalization= Market Price x Number of shares 3 Margin= Customers Equity Market Value of security 4 Market Value of securities= Loan 1-Maintenance Margin 5 For Short Selling Market Value of securities = Initial Proceeds + Initial Margin 1 + Maintenance Margin 1 Book Value Approach of Valuation Book Value = Total assets- Current Liabilities & Provisions Book value per share = Book value/No. of shares 2 Net Assets Value Approach of Valuation Value of assets
less Outstanding Debt Net Assets Value Number of shares NAV per share Money Market 1 Current yield = Annual Coupon Payment Current Price of bond 2 Coupon Bond Bond Value= V 8 = INT + INT +. INT + M (1+K d ) 1 (1+K d ) 2 (1+K d ) n (1+K d ) n 3 Yield to Call = Annual Coupon + (Call Price PV)/N (Call Price + PV)/2 4 Yield to Maturity = Annual Coupon + (FV-PV)/N (FV+PV)/2 5 Market Value= V= Dividend Interest Rate 6 Zero Coupon Bond Bond Value = Maturity Value (1+i) n 7 Duration= %age Change in bond price Yield Change in % 8 Interest Coverage Ratio= EBIT Interest change on all bonds 9 Pretax Preferred Dividend requirement = Preferred Dividends 1 - Tax rate 10 Preferred Dividend Coverage = EBIT Interest + (preferred dividend/1-tax rate) 11 Total Shareholder Return
= Ending Market Value of equity + Distributors (Dividends & share buyback) during the year Beg. Market Value of Equity + Additional Equity rose during the year (1+K d ) 1 (1+K d ) 2 (1+K d ) n (1+K d ) n = Ending Market Value of equity + Distributors (Dividends & share buyback) during the year Beg. Market Value of Equity + Additional Equity rose during the year 1. NOPLAT NOPLAT = EBIT - Taxes on EBIT 2. Return On Invested Capital ROIC = NOPLAT Invested Capital 3. Invested Capital Invested Capital = Total Assets - Non Operating Fixed Assets - Excess Cash & marketable securities 4. Net Investment Net Investment= Gross Investment -Depreciation Net Fixed assets at the end of the year Add: Net Current Asset at the end Of the year Less: Net Fixed assets at the beg. of the year Less: Net Current assets at the beg. of the year 5. Free Cash Flow FCF= NOPLAT - Net Investment FCF= Gross Cashflow - Gross investment 6. Free Cash Flow Available to the firm (FCFF) FCFF= NOPLAT - Net Investment + Non Operating Cashflow 7. Capital Expenditure Fixed assets at the end of the year less: Fixed assets at the beg. of the year Add: Depreciation 8. Growth Rate Growth rate= Net Investment invested capital x 100 9. Weighted Average Cost of Capital Enterprise DCF Model OR WACC= r E (S/V) +r P (P/V) + r D (1-T) (B/V) 10. Value Of the Firm Value of the firm = FCF (WACC-Growth Rate) Invested Capital = Total Assets - Non Operating Fixed Assets - Excess Cash & marketable securities 1. Initial Outlay Initial Outlay = Initial Investment + Increase in working Capital 2. Operating Cashflow CFAT = (R-C) (1-TR) + D x TR 3.Terminal Cashflow TCF= Salvage value + Increase in Working capital 4. Payback Period Payback Period= Initial Outlay Annual Inflow 5. AROR AROR= Net Profit ater tax Average Investment x 100 6. Average Investment AI= Initial Outlay + Terminal Cashflow 2 7. Net Present Value NPV= PV inflows - PV outflows 8. PV inflows PVI = (A x PVFA) + (FV +PVF) PVFA= 1-(1+i) -n i PVF= FV n x 1 (1+i) n 9. Probability Index PI= PV Inflow PV Outflow 10. Internal Rate of Return IRR= LR+ (HR-LR) x [NPVL (NPVL - NPVH)] 11. Cash Inflow CFAT: MV-(MV-BV) x TR BV= Cost - Acc. Depreciation Capital Budgeting 12. Cash Outflow Purchase Price Add Capital Expenditures Add Revenue Expenditures (1-TR) Add Working Capital Relative Valuation
1. Price to Earning Multiple P o /E 1 = (1-b) r ROE x b 2. Price to Bookvalue Multiple P/B = ROE (1+g)(1-b) r-g 3.P/S Multiple P o /S o = NPM (1+g) (1-b) r-g 4. Price to Earning Growth PEG= (P/E) g 5. Value Ratio Value Ratio = (P/B) ROE 6. PSM PSM = (P/S) NPM 7. EV to EBITDA EV/EBITDA = ROIC g x (1-DA) (1-t) ROIC (WACC-g) 8. EV to EBIT EV/EBIT = (1-t) (1- reinvestment rate) WACC-g 9.EV to FCFF EV/FCFF = 1 . WACC-g 10. EV to Bookvalue EV/BV = ROIC - g WACC-g 11. EV to Sales EV/Sales = After tax operating Margin (1+g) (1- Reinvestment rate) WACC-g