FI.APP.CD - appendix c Selected Equoiions Doto ond Chapter...

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appendix c Selected Equoiions Chapter I (1 + wACC)l (1 + WACC), FCFl ond Doto . FCF] FCF- - (r + rrvAccP' '(1 + lvAccr Chapter 2 FVN:PVO+DN *=# rva-=r,r,,n[!JJ' i]=u*fo.tr'1 FVAd"" = FVA"dr"",y(1 + I). tr- | r rr 1 t t' (rrt)rl PVAN PMrli -,i;rN PMrl - PVANd"" PvAddhdy(l + I). PMT PV of a perpetuity = -. rrv,, = S cF' FVu*,*"t*- )C41r 19*-,. . INov rprr : -It,I . APR (IPER)M, t0l I
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l0l2 App.rdix c s6l€d.d tquolions ond Dolo Number oI pedods = NM. FVN = pv(r + Ip'R)NnmbcorFd'd' - PV(t . Y)^ t"t* = (' *S)"-'.0. Chapter 3 EBIT = EarningE befor€ interest and taxes = Sales levenues - Operating costs, EBITDA = Eamings before interest, taxes, dePreciatio& and amoltization = EBIT + DeFeciation + Amoitiation. Net cash flow = Nei income + DePreciation and amortization. NOWC = Net opentint working caPital : Operating current a6s€ts - OPenting current liabilities = (Cash + Accounb receivable + Invenbories) - (Accounts PaYable + Acouals). Total net opemtint caPital = Net oPemting working caPrtal + Operahng long-term a36ets. NOPAT Net operatiry profit afier iaxes EBIT(I - Tax rate). Free cash flow (FcF) = NOPAT - Net inveshrcnt in oPeratint capital = NOPAT - (Curent year's total net opsatint caPital - Prcvious year's total net oP€xating caPital) Opelating cash flow = NOPAT + D€Preciation and amortization Gross investment in Net investment .. . . DePreciation. operahnScaPtal ur oPeraung caPrar FCF = Operating cash flow - Gross investmmt in oPeratins caPital. NOPAT Return on invested capital (ROIC) : Total nei operating capital MVA = Market value of 6tock - Equity capital suPPlied by shareholde$ = (Shares outstanding)(Sbock price) - Total common equity.
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S€leci€d Eqlolions ond Dolo ,;-l MVA - Total market value - Total investor-supplied capital = (Market value of stock + Market value of debt) - Total investor-supplied capital. EVA - Net operating profit after tare6 (NOPAT) - After-tax dollar co6t of capital used bo support operation8 = EBIT(I - Tax rate) (Total net operating capitalXWACC). EVA = (Total n€t operating capitalXROIC - WACC), Chapter 4 Cu ent mtio : Cunmt assets Cunent liabiliti$ Quick, or acid te6t ratio = Invmtory tumover mtio : DSO = Davs sales outstandins = Receivable6 Receivables Average sales per day Sale6 Annual BaIeB/365 Fixed assets flrmover Btio - Net fixed ass€ts Curr€nt aBsets - Invmtories Current liabilities Sales Inventoli€s . Sales total asserc nrtnover tano = =--:--:----------, I Otal assets Total liabilities Debt ratio : Total a66€ts D/A DIB = and D/B -'" "r + D/E Total asseb 't - D/A' Equity multiptier = Common equity I Debt ratio = 1- Equity multiplier' Time6-interest-eamed (TIE) ratio = Interest charges
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lol4 ApFndL C Sel€ded Eouolioft dnd Dolo EBITDA coverage ratro = Profit margin on sal€s : Return on total asseb rROA) - EBITDA + Lease paymmts Interest + Principalpayments + Ira8epa).ments
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FI.APP.CD - appendix c Selected Equoiions Doto ond Chapter...

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