RASIO KEUANGAN

NADHIFA RAHMANIA (028140030)

Return on invested capital

Return on net operating assets (RNOA)

Earnings per Share (basic)

net operating profit after tax

(net income - preferred dividend)

average net operating assets

weighted average of shares outstanding

Return on common equity (ROCE)

Book value per share

(net income - preferred dividend)

(shareholder's equity - preferred equity)

average common shareholder's equity

number of shares outstanding

Equity growth rate

Effective interest rate

(net income - preferred dividend - dividend payout)

total interest incurred

average common equity

average interest-bearing indebtedness

Sustainable equity growth

Operating cash flow to income

ROCE x (1 - dividend payout rate)

operating cash flow

net income

Dividend payout rate

Asset utilization and efficiency

cash dividends paid

net income

net operating assets turnover

sales

Effective tax rate

tax expense
income before income tax

average net operating assets

Accounts receivable turnover
sales
average accounts receivable

Profitability
Gross Profit Margin
(sales - cost of sales)

Day's sales in receivables

(accounts receivable x 360)
Sales

sales
Inventory turnover
Net Operating Profit Margin

Cost of sales

net operating profit after tax

average inventory

sales

Day's sales in inventory

inventory turnover

(inventory x 360)

cost of sales

cost of sales

average inventory

Net operating working capital turnover

sales
average net operating working capital
Long-term operating asset turnover
Sales
average long-term operating assets

Day's sales in inventory

(inventory x 360)
cost of sales
Accounts payable turnover
Cost of sale
Average account payable

Accounts payable turnover

Days' purchase in account payable

cost of sales

(account payable x 360)

average account payable

cost of sales
Cash flow to current liabilities ratio

Liquidity
Current ratio

operating cash flow

current liabilities

current assets
current liabilities

Capital structure and solvency

Working capital

Operating cycle

current assets - current liabilities

days to sell inventory + collection period

Acid-test (quick) ratio

Total debt ratio

(cash + cash equivalents + marketable

securities + accounts Receivable)

total liabilities
total assets

current liabilities
Accounts receivable turnover
sales
average account receivable
Day's sales in receivable
(accounts receivable x 360)
sales

Total debt to equity ratio

total liabilities
shareholders' equity
Long-term debt to equitty
long-term liabilities
shareholders' equity

Times interest earned

income before interest and income taxes
interest expense
Price-to-book

Earnings to fixed charges

earning available for fixed charges
fixed charges (see chapter 11 for definition)

market price per common share

book value per common share
Earnings yield

Chas flow to fixed charges

pretax operating cash flow available for fixed charges
fixed charges (see chapter 11 for definition)

earnings per share

market price per common share

Financial leverage ratio

Dividend yield

net financial obligations

shareholders' equity

annual cash dividends per common share

market price per common share

Altman Z-score
0.717 (working capital / total assets) +
0.847 (retained earnings / total assets) +
3.107 (income before interest and taxes /
total assets) + 0.420 (shareholders' equity /
total liabilities) + 0.998 (sales / total assets)

Dividend discount model*

Vt = E ( Dt+1) + E ( Dt+2) + E ( Dt+3) +
(1 + k)1

(1 + k)2

(1 + k)3

Free Cash Flow To Equity Model*

Vt = E ( FCFt+1) + E ( FCFt+2) + E ( FCFt+3) +
(1 + k)1

(1 + k)2

(1 + k)3

Financial market
Residual Income Model*
Price-to-earning
market price per common share
earnings per share

Vt = BVt + E(RIt+1) + E(RIt+2) + E(RIt+3) +

(1 + k)1

(1 + k)2

(1 + k)1