fin3200 final - CFstream = pmt(1 i n n=FV-n=PV Eff(10,2 ie...

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Unformatted text preview: CFstream = pmt(1+i) n , n=FV, -n=PV Eff(10,2) ie eff for 10%, semi ann inv,10=int, 2=per. EBIT =sales rev-op.costs. NCF =NI+Dep&Amort. NOWC =allCA req in op – all non-int bearing CL. NOPAT =EBIT(1-T) OpCF =NOPAT+Dep&Amort. FCF =OpCF – Inv. In OpCap. FCF =[EBIT(1-T)+Dep&Amort.] – [Cap.Exp.+ NOWC]. TotalOpCap =NOWC+NetFA. MVA =MktValueofStock-EqCapitalSuppliedbyS.holders, = [(shs.outs.)(stock price)]-TotalCE. EPS =NI / #sh.outs DPS =TotalDivPaid/#sh.outs Inv=Sales/inv.TO CA = CR*CL CL =CA/CR QR =CA-inv/CL InvTO =Sales/inv DSO =Rec/AvgSalesPerDay (ann sales/365) FA TO= Sales/netFA TA TO= Sales/TA DR = TotalDebt/TA D/A= D/E / 1 + D/E DE= D/A / 1 – D/A TIE =EBIT/Int.Changes or Int.Exp. EBITDAcoverageratio= EBITDA +LeasePmts/int+PrincipPmts&LeasePmts PM= NI/Sales ROA= NI/TA BEP= EBIT/TA ROA= PM*TA TO ROA= NI/Sales*Sales/ TA ROE =NI/TotalCE ROE= ROA*EquityMultiplier EqMultip= TA/CE ReturnInvCap= NI+int/Debt+Eq PE= PricePerShare/EarningsPerShare Price/CF= PricePerShare/CF Per Share BookValuePerShare= CE/ShsOuts. MB= MktPricePerShare/ BookValuePerShare or PricePerShare/CE, shares stock outs. EVA= NI-(EquityCapital* %) EVA= EquityCapital*(ROE- %CostOfEquityCapital) PM= NI/Sales = NI/TA * TA/Sales r=r*+IP+DRP+LP+MRP. r RF = r*+IP ST= IP LT= IP,MRP SC= IP,DRP,LP LC= IP,MRP,DRP,LP. Add IP&MRP to r* to find nominal rates. CurrentYield= AnnualInt coupon pmt /BondsPrice CGY= ChangeInPrice/BegPrice CY= PMT/PV YTM = (expected CY)+(expected CGY) YTM= N=yrs, I=solve, PV=bond price PMT= %*ParValue,FaceValue,ie10%*1000=100, FV=ParValue,FaceValue,IssuePrice YTC=...
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This note was uploaded on 04/02/2008 for the course FIN 3200 taught by Professor Burnie during the Fall '07 term at Western Michigan.

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fin3200 final - CFstream = pmt(1 i n n=FV-n=PV Eff(10,2 ie...

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