Note: Ratio Analysis

Ratio analysis

Liqidity ratios

current ratio=current assets/ current liabilities
acid test (quick ratio)=(current asset-inventory)/current liabilities

Asset management ratios

inventory turn over ratio:sales/ inventory
DSO=day sales outstanding= receivable/average sales per day(annual sales/360)
fixed asset turn over ratio: sales/ net fixed asset
total asset turn over ratio=sales/ total asset

Debt management ratios
total debt / total asset(D/A)
TIE ratio(time-interest-earned ratio)=EBIT/interest charges

Profitability ratios
BEP(basic earning power)=EBIT/ total asset
ROA
ROE

Market value ratios
P/E ratio
Price/cash flow ratio= price/cash flow per share
M/B ratio= market / book ratio

Du Pont equation

EVA
= EBIT(1-Corporate tax)-(operating capital)(cost of capital after tax)
= net income (equity capital)(cost of equity capital)

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