Ratios

Question 1

Gross Profit Margin

Answer 1

gross profit / net sales x 100

Net sales: dettes fins CT – dettes fins LT – trésorerie

Question 2

EBITDA Margin

Answer 2

EBITDA / net sales x 100

Atteste la solvabilité de l’E

Net sales: dettes fins CT – dettes fins LT – trésorerie

Question 3

Operating profit / EBIT Margin

Answer 3

operating profit / net sales x 100

résultat d’exploitation / CA

Atteste pbs financiers (même si perf)

Question 4

ROS (net profit margin/marge nette)

Answer 4

net earnings / net sales x 100

Question 5

ROE (return on equity)

Answer 5

net earnings / equity x 100

Question 6

ROCE (return on capital employed)

Answer 6

earnings before interest and taxes (EBIT) / PPE + Intangible assets + WCR x 100

Question 7

ROCE (return on capital employed)

Answer 7

earnings before interest and taxes (EBIT) / total assets – current liabilities x100

Question 8

Cash Flow Margin

Answer 8

operating cash-flow / net sales x 100

Question 9

Free Cash Flow Margin

Answer 9

free cash-flow / net sales x 100

Question 10

WCR

Answer 10

inventories + receivables – payables

WCR/net sales x100

WCR/net sales x 360j

Question 11

DSO (days of sales outstanding)

Answer 11

receivables / net sales x360j

Question 12

DIO (days of inventory outstanding)

Answer 12

inventory / COGS x360j

Question 13

management of inventories

Answer 13

finished goods inventory/net sales x360j

Question 14

DOP (days of payables outstanding)

Answer 14

payables / COGS x 360j

Question 15

capital expenditures

Answer 15

net value of tangible assets / gross value of tangible assets x100

Question 16

CAPEX / operating cash-flow

Answer 16

CAPEX/operating cash flow x100

Question 17

Current ratio / net working capital ratio / current liquidity

Answer 17

current assets / current liabilities

Question 18

Quick ratio

Answer 18

current assets – inventories / current liabilities

Utilité: mesurer si E est en mesure de rembourser ses dettes à CT (si moins de 1 alors NON, si plus de 1 alors OUI)

Question 19

Inventories

Answer 19

inventories / current assets x 100

Question 20

Cash ratio

Answer 20

cash and cash equivalent / current liabilities x 100

Question 21

Equity ratio

Answer 21

total equity / total assets x 100

Question 22

Debt ratio

Answer 22

total debt / total assets x 100

Should be lower than 100%

Question 23

Net gearing ratio

Answer 23

net debt / total equity x 100

Question 24

Net debt

Answer 24

total debt – cash & cash equivalents / total equity x 100

Should be between 50% and 60%

Question 25

Debt ratio

Answer 25

debt (LT + ST) / operating cash flow Should be no more than 3

Question 26

EBITDA Solvency / Coverage

Answer 26

net debt / EBITDA X means it will take X years to repay its debts (LT) Should be under 3  allows company to repay its obligations

Question 27

Coverage

Answer 27

interest / EBITDA x100 Should be less than 30%

Question 28

Repayment ability

Answer 28

net debt/free cash flow

Question 29

ST/LT Debt ratio

Answer 29

ST debt / LT debt x 100 Should be lower than 40%

Question 30

Market-to-book ratio / price to book ratio

Answer 30

market value of equity / book value of equity

Question 31

PER (price to earnings ratio)

Answer 31

stock current price / earnings per share (EPS)

Question 32

Dividend yield

Answer 32

annual dividend per share / price per share x 100

Question 33

Dividend payout ratio

Answer 33

total dividends / net income

Question 34

Enterprise value (EV)

Answer 34

market value of equity + debt – cash

Question 35

Valeur comptable

Answer 35

VC = fonds propres = actifs/assets – dettes/liabilities