Formulas

Question 1

Price to book

Answer 1

Mcap./Eq

Question 2

Price to sales

Answer 2

Mcap./Net Sales

Question 3

Enterprise Value

Answer 3

FCFF/rwacc-g

Question 4

FCFF

Answer 4

EBIT(1-t)+Depr-Capex-DeltaWC

Question 5

Equity Value

Answer 5

EV-Debt

Question 6

Beta debt

Answer 6

(rd-rf)/(rm-rf)

Question 7

Beta equity

Answer 7

Beta asset - D/V * Beta debt / 1 - D/V

Question 8

re

Answer 8

rf+B*(rm-rf)

Question 9

WACC

Answer 9

rdD/V(1-t)+re*E/V

Question 10

Implied PB multiple

Answer 10

Eq. V/Book equity

Question 11

Book equity

Answer 11

PPE + WC - Depr

Question 12

Equity EVA

Answer 12

(ROE-re)*Op.Eq.

Question 13

Terminal EVA

Answer 13

(ROE-re)/(re-g)*Op.Eq.

Question 14

EV Abn. prof.

Answer 14

Cl.eq. + PV of EVA

Question 15

Profit Before Tax (adj.)

Answer 15

PBT (unadj.) + R&D - ammort (R&D)

Question 16

ROCE

Answer 16

EBIT / TE + St debt + Lt debt

Question 17

Price Per share

Answer 17

(EV - Debt)/NOSH

Question 18

Change in stock due to warrants

Answer 18

(Pavg. - Pwar.)/Pavg. * #of warrants

Question 19

Revenue growth rate

Answer 19

(Revenue1/Revenue0)-1

Question 20

Div Payout ratio

Answer 20

Div0/NI

Question 21

Sustainable growth rate

Answer 21

NI/TE*(1-Div payout ratio)

Question 22

Reinvestment rate

Answer 22

(Capex-DeltaWC+Depr.)/EBIT(1-t)

Question 23

rd

Answer 23

Interest exp.1/St debt0 + Lt debt0

Question 24

Effective Tax Rate

Answer 24

Inc.tax1 / EBT1

Question 25

Du Pont ROE

Answer 25

NI/Sales * Sales/TA * TA/Eq.

Question 26

MV equity

Answer 26

EV - Lt Debt - St Debt + Cash

Question 27

rd

Answer 27

interest exp/total debt

Question 28

Adjusted EBIT

Answer 28

1) Opening PV of operating Profit: PVlease/1+rd 2) Interest exp: Opening PV *rd 3) Adj. EBIT = Ebit + Interest exp.

Question 29

ROE

Answer 29

NI1/TE0 | P/BV / P/E | g / (1-p)

Question 30

Current Ratio

Answer 30

CA1/CL1

Question 31

Quick Ratio

Answer 31

CA-Inv-Prepaid exp. / CL

Question 32

Cash Ratio

Answer 32

Cash & Marketable sec. / CL

Question 33

Closing Equity

Answer 33

Op.Eq. + NI - DIV

Question 34

NI

Answer 34

ROE * Op.Eq.

Question 35

Div

Answer 35

NI * p

Question 36

CCC

Answer 36

Debtor d. + Inv. d. + A/P d.

Question 37

Debtor days

Answer 37

A/R * 365 / Sales

Question 38

Inv. days

Answer 38

Inv. * 365 / COGS

Question 39

A/P days

Answer 39

A/P / Inv1 - Inv0 + COGS

Question 40

Adjusted Asset Turnover

Answer 40

Sales / TA + Adjustment

Question 41

Adjusted D/E

Answer 41

Depends

Question 42

Effective Depr.

Answer 42

Depr. exp. / PPE + Cost of PPE

Question 43

Price Per Share (VC)

Answer 43

Investment / #of shares

Question 44

Ownership share (VC)

Answer 44

New shares / New sh. + Old sh. | Investment / Post Money

Question 45

Pre-money (VC)

Answer 45

Post-money - Investment

Question 46

Post-money (VC)

Answer 46

Pre money + Investment

Question 47

Exit Value (VC)

Answer 47

EBIT * (EV/EBIT)

Question 48

Target Ownership Share (VC)

Answer 48

Investment / PV(Exit Value)

Question 49

CAPEX

Answer 49

PPE1- PPE0 + Depr.

Question 50

NET WC

Answer 50

WCa - WCl

Question 51

Levered re

Answer 51

re+(re-rd)*D/E

Question 52

% of compl.

Answer 52

1) costs inc./total costs = x | 2) x * tot. contract worth - costs inc. = GP

Question 53

FCFF (EBIT)

Answer 53

1) EBIT * g = x 2) x * (1-t) = y 3) y * reinv. r = z 4) y - z = FCFF

Question 54

LIFO reserve

Answer 54

FIFO inv - LIFO inv

Question 55

LIFO inv.

Answer 55

Inv.0 + Purchases - COGS