All financial formulas
1. Interest rate = net interest rate+inflation additional rate+risk additional rate.
2. Current ratio = current assets/current liabilities
3. Quick ratio = (current assets-inventory)/current liabilities
4. Conservative quick ratio = (cash+short-term securities+notes receivable+net accounts receivable)/current liabilities
5. Business cycle = inventory turnover days+average collection cycle.
6. Inventory turnover rate (times) = cost of sales/average inventory, where: average inventory = (inventory at the beginning of the year+inventory at the end of the year) /2 inventory turnover days =360/ inventory turnover rate = (average inventory *360)/ cost of sales.
7. Accounts receivable turnover rate (times) = sales revenue/average accounts receivable, in which: sales revenue is the net amount after deducting discounts and concessions; Accounts receivable are the amount of bad debt reserves that have not been deducted. Average collection period =360/ accounts receivable turnover rate = (average accounts receivable *360)/ net income of main business.
8. Turnover rate of current assets (times) = sales revenue/average current assets
9. Total assets turnover rate = sales revenue/average total assets
10, asset-liability ratio = total liabilities/total assets.
1 1, and property right ratio = total liabilities/owner's equity.
12, tangible net debt ratio = total liabilities/(shareholders' equity-net intangible assets)
13. Multiples of interest earned = earnings before interest and tax/interest expense.
14, net sales interest rate = net profit/sales revenue * 100%
15, gross sales margin = (sales revenue-sales cost)/sales revenue * 100%
16, net interest rate on assets = net profit/average total assets.
17, ROE = net profit/average net assets (or year-end net assets) * 100% or net sales rate * asset turnover rate * equity multiplier or interest rate on net assets * equity multiplier.
18, equity multiplier = average total assets/average total owner's equity = 1/( 1- asset-liability ratio)
19, average number of ordinary shares issued outside = ∑ (number of ordinary shares issued outside * number of months issued outside)
20. Earnings per share = net profit/total number of ordinary shares at the end of the year = (net profit-priority dividend)/(total number of shares at the end of the year-priority shares at the end of the year)
2 1, P/E ratio = common stock price per share/earnings per share.
22. Dividend per share = total dividend/total number of common shares at the end of the year.
23. Stock yield = dividend per share of common stock/stock price.
24. P/B ratio = price per share/net assets per share
25. Dividend payout ratio = dividend per share of common stock/net income per share of common stock.
26. Dividend guarantee multiple = reciprocal of dividend payment rate = net income per common stock/dividend per common stock.
27. Retained profit ratio = (net profit-all dividends)/net profit
28. Net assets per share = year-end shareholders' equity (excluding preferred shares)/number of common shares at the end of the year.
29. Debt-to-cash ratio = net operating cash inflow/current debt due = net operating cash inflow/(long-term debt due+notes payable)
30. Cash current liabilities ratio = operating cash flow/current liabilities
3 1, total cash debt ratio = operating cash inflow/total debt.
32. Sales cash ratio = operating cash flow/sales volume.
33. Net operating cash flow per share = net operating cash flow/number of common shares.
34. Cash recovery rate of all assets = net operating cash flow/all assets * 100%.
35. Cash-to-investment ratio = net cash flow from business activities in the last five years/sum of capital expenditure, inventory increase and cash dividend in the last five years.
36 cash dividend guarantee multiple = net operating cash flow per share/cash dividend per share
37. Net income operating index = net operating income/net income = (net income-non-operating income)/net income.
38. Cash management index = net operating cash income/operating cash (= net income-non-operating income+non-cash expenses)
39. External financing amount = (asset sales percentage-debt sales percentage) * new sales-net sales interest rate x( 1- dividend rate) x forecast period sales or = external financing sales percentage * new sales.
40. Sales growth rate = new amount/base period amount or = planned amount/base period amount.
4 1, new sales = sales growth rate * base period sales.
42. Growth rate of external financing = percentage of asset sales-percentage of debt sales-net profit from sales *[( 1+ growth rate)/growth rate ]*( 1- dividend rate) If it is negative, it means that there are surplus funds.
43. Sustained growth rate = net sales rate * total assets turnover rate * profit retention rate * initial equity total assets multiplier at the end of the period or = net sales rate * total assets turnover rate * profit retention rate * final equity multiplier /( 1- net sales rate * total assets turnover rate * profit retention rate * final equity multiplier) P- present value I- interest rate I- final value N- time R-
44. The final compound interest value s=p(s/p, I, N) compound interest present value
45. ordinary annuity final value: s = a {[(1+I) n]-1}/I or = a (s/a, I, n).
46. Annual sinking fund: a = s * i/[( 1+i) n- 1] or =s(a/s, i, n).
47. Present value of ordinary annuity: p = a {[1-(1+i)-n/i] or =a(p/a, i, n).
48. Amount of investment recovery: a = p {i/[1-(1+i)-n]} or =p(a/p, i, n).
49. Final value of advance annuity: s = a {[(1+i) (n+ 1)]-1}/i or = a [(s/a, i, n+1)].
50. Present value of advance annuity: p = a [1-(1+i)-(n-1)]/i+1} or: a[(p/a, i, n-/kloc-)
5 1. present value of deferred annuity: I: p=a[(p/a, I, n+m)-(p/a, I, m)] II. p=a[(p/a，I，n)*(p/f，I，m)]。
52. Present value of permanent annuity: p=a/i annuity = present value of annuity/present value of compound interest
53. Conversion between nominal interest rate and real interest rate: I = (1+R/M) m- 1 where: r is the nominal interest rate; M is the number of times of compound interest every year.
54. Bond value: interest is paid in installments, and the principal repaid at maturity = the present value of interest annuity+the pure discount of the present value of principal compound interest = face value /( 1+ necessary rate of return) n (one-time payment of principal and interest at face value) settled bonds = annual interest/annual interest payment times (p/a, necessary rate of return/times, times * years)+
55. Bond purchase price = annual interest rate * present value coefficient of annuity+face value * present value coefficient of compound interest.
56. Bond yield to maturity = interest+(principal-bid price)/years/[(principal+bid price) /2]V- stock value P- market price G- growth rate D- dividend R- expected rate of return RS- necessary rate of return T- dividend in which year.
57. General stock model: p=σ [dt/( 1+RS) t] Zero growth stock: p=d/rs fixed growth: p=σ.
58. Total yield = dividend yield+return on capital =d 1/p+ return on capital.
59. Expected rate of return
60. Expected value:, variance: standard variance:
6 1, expected return rate of securities portfolio = σ (expected return rate of a certain type of securities * the proportion of such securities in the total) M-class securities a- the proportion of certain securities in the total investment-covariance of return rate of J-expected correlation coefficient between J-class securities and return rate q- standard deviation of certain securities.
62. Total expected rate of return = risk portfolio investment ratio * risk portfolio expected rate of return+risk-free asset investment ratio * total standard deviation of risk-free interest rate =q* risk portfolio standard deviation.
63. Capital asset pricing model
64. Stock market line: the required rate of return of individual stocks ki= risk-free rate of return rf+ (average required rate of return of stocks)
65. Discount indicator: net present value = present value of cash inflow-cash flow occurrence value profitability index = present value of cash inflow/cash flow occurrence value IRR: annual inflow equals original investment/annual inflow equals cash inflow =(p/a, I, N). Don't use trial and error at the same time.
66. Non-discounting indicator: investment with unequal payback period or divided into several years = n+nAnnual unrecovered amount /n+ 1 When cash outflows are equal, the same internal accounting rate of return = average annual net income/original investment.
67. Rate of return required by investors (cost of capital) = debt ratio * interest rate *( 1- income tax)+owner's equity ratio * cost of equity.
68. Fixed average annual cost = (original value+operating cost-residual value)/service life or = (sum of original value+operating cost present value-residual value present value)/annuity present value coefficient.
69. Operating cash flow = operating income-cash cost-income tax = after-tax net profit+depreciation = income (1- income tax)-cash cost (1- income tax)+depreciation * tax rate.
70. cash flow adjustment method: adjusted net present value =∑][a* expected cash flow /( 1+ risk-free rate of return) t]a- positive equivalent.
7 1. Risk-adjusted discount rate method: adjusted net present value = ∑ [expected cash flow /( 1+ risk-adjusted discount rate) t] Investor's required rate of return = risk-free rate of return +b * (market average rate of return-risk-free rate of return) Project's required rate of return = risk-free rate of return+project's b * (market average rate of return)
72. Net present value = entity cash flow/entity weighted average cost-original investment = shareholder cash flow/average interest rate required by shareholders-shareholder investment.
73.B equity =b assets *( 1+ liabilities/equity) b assets =b equity /( 1+ liabilities/equity)
74. Cash return amount r= upper limit =3* cash return amount -2* lower limit
75, income increase = sales increase * unit marginal contribution
76. Accrued interest on accounts receivable = daily sales * average cash conversion cycle * variable cost rate * average balance of capital cost = daily sales * average cash conversion cycle occupied capital = average balance * variable cost rate.
77. Discount cost increase = new sales level * new discount rate * discount rate-old sales level * old discount rate * proportion of customers who enjoy discounts.
78. Ordering cost = fixed ordering cost+annual demand/inventory quantity * variable ordering cost acquisition cost = fixed ordering cost+variable ordering cost+purchasing cost storage cost = fixed storage cost+variable storage unit cost * inventory quantity /2 total inventory cost = acquisition cost+storage cost+shortage cost k- total demand KC- unit storage cost N.
79. Economic order quantity (Q *) = total cost = optimal order times (N *) = D/Q * Economic order quantity takes up funds = Q */2 * U Optimal order cycle =1/n * q *) = total cost.
80. Reorder point = delivery time * daily average demand+insurance reserve shortage = delivery time * total cost of daily average demand insurance reserve = shortage cost+insurance reserve cost = unit shortage cost * shortage quantity *n+ insurance reserve.
8 1, the cost of giving up the cash discount = CD/(1-cd) x (360/nx100%), where: cd is the percentage of the cash discount; N is the number of deferred payment days when the cash discount is lost, which is equal to the difference between the credit period and the discount period.
82. Real interest rate = nominal interest rate/1- compensatory balance or = interest/principal.
83. Bond issue price = face value /( 1+ market interest rate) n+σ (interest /( 1+ market interest rate) n) = face value present value+interest annuity present value.
84. Conversion ratio of convertible bonds = face value of bonds/conversion price
85. Earnings per share after issuing stock dividends (market price) = earnings per share before issuing (market price) /( 1+ stock dividend distribution rate)
86. Bank borrowing cost: Ki = I (1-t)/L (1-f) = I * L * (1-t)/L (1-f) or = I (/kloc-f). I- annual interest rate; L- total amount of financing; T- income tax rate; I- interest rate; F- Pre-tax cost of financing rate considering time value (k): l (1-f) = σ [I/(1+k) t]+[principal /( 1+k) n] After-tax cost = pre-tax cost.
87. Bond cost: KB = I (1-t)/B0 (1-f) = B * I * (1-t)/B0 (1-f) where: kb- Bond cost; I- per interest; T- income tax rate; B face value; I- coupon rate; B0- the amount of funds raised (according to the issue price); Financing interest rate
88. Cost of retained earnings: dividend growth model = dividend this year (1+g)/ market price +g risk premium method = debt cost+risk premium capital asset pricing model = risk-free rate of return +b (average risk-free rate of return-risk-free rate of return).
89. Common stock cost =[d 1/p( 1-f)]+g, where: d 1- 1 annual dividend; V0- market price; G- annual growth rate
90. Financing breakthrough point = a certain amount of funds that can be raised at a specific cost/the proportion of such funds in the capital structure.
9 1, weighted average cost of capital: kw=σwj*kj where: kw is the weighted average cost of capital; Wj is the ratio of class J funds to total funds; Kj is the cost of J-fund.
92. The cut-off point of the total amount of financing = TFI/WI42921937 (* *)15: 23: 0168, fixed annual cost = (original value+operating cost-residual value)/service life or = (original value+present value of operating cost).
93. operating leverage Dol = Q (P-V)/Q (P-V)-F = (S-VC)/(S-VC-F) Financial leverage dfl=ebit/(ebit-i) Total leverage DCL = DOL * DFL SF- sinking fund.
94. There is no difference in earnings per share: [(ebit1-I1) (1-t)-SF]/n1= [(ebit2-I2) (1-t)-SF. When the earnings before interest and tax is less than the indifference point, collective financing of common stock is beneficial.
95. Total value (v)= stock value (s)+ bond value (b) s=(ebit-i)( 1-t)/ks ks- weighted average cost of capital (calculated according to the capital asset model) = pre-tax debt capital cost * (B/V) * (65438+.
96. Material distribution rate = actual total material consumption or actual cost/product material quota sales or norm cost total labor (manufacturing cost) distribution rate = total wages of production workers (manufacturing cost)/total actual (quota, machine) working hours of each product = total auxiliary cost/total products or services (excluding products or services provided to auxiliary workshops) =,
97. Equivalent output of finished products = quantity of finished products * degree of completion = unit cost * unit cost of finished products = cost of finished products at the beginning of the month+production cost of this month/(output of finished products+equivalent output of finished products at the end of the month) cost of finished products at the end of the month = unit cost * equivalent output.
98. WIP cost at the end of the month = WIP quantity * WIP quota unit cost Total cost of finished products = (WIP cost at the beginning of the month+this month's expenses)-WIP cost at the end of the month Unit cost of finished products = Total cost of finished products/output of finished products.
99. Material distribution rate = (actual cost of products at the beginning of the month+actual input cost of this month)/(fixed material cost of finished products+norm cost at the end of the month) Wage distribution rate = (actual salary of products at the beginning of the month+actual input salary of this month)/(fixed working hours of finished products+fixed working hours of products at the end of the month) Material (salary) cost of products to be distributed = fixed material (salary) cost of products *.
100, joint product cost sales method: product cost = product sales price/total sales price physical quantity method: unit quantity (weight) cost = joint cost/joint product total quantity (total weight)
10 1, profit = unit price * sales volume-unit variable cost * sales volume-fixed cost or = safety margin rate * marginal contribution rate.
102, marginal contribution = sales revenue-variable cost unit marginal contribution = unit price-unit variable cost marginal contribution = marginal contribution/sales revenue = unit marginal contribution/unit variable cost rate = variable cost/sales revenue = unit variable cost/unit variable cost rate+marginal contribution rate = 1 break-even point activity rate+safety marginal rate.
103, weighted average marginal contribution rate = sum of product marginal contribution rate/sum of product sales revenue * 100% or = σ (product marginal contribution rate * proportion of products to total sales)
104, guaranteed amount = fixed cost/unit marginal contribution guaranteed amount = fixed cost/marginal contribution break-even point operating rate = guaranteed amount/normal sales (or sales) normal sales = guaranteed amount+safety margin.
105, safety margin = normal sales-guaranteed amount safety margin = safety margin * normal sales (actual order amount) sales profit margin = safety margin * marginal contribution rate.
106, sensitivity coefficient = target value (profit) change rate/parameter change rate.
107, material price difference = actual quantity * (actual price-standard price) material price difference = (actual quantity-standard quantity) * standard price
108, wage rate difference = actual working hours * (actual wage rate-standard wage rate) labor efficiency difference = (actual working hours-standard working hours) * standard wage rate
109, standard allocation rate of manufacturing expenses = total budget of manufacturing expenses/standard cost of total direct labor hours = standard direct labor hours * change of standard allocation rate = actual working hours * (actual allocation rate-standard allocation rate) poor efficiency = (actual working hours-standard working hours) * standard allocation rate.
1 10, fixed manufacturing expense consumption difference = actual fixed manufacturing expense-budget energy difference = budget energy-standard cost = (production energy-actual output standard working hours) * standard distribution rate idle energy difference = (production energy-actual working hours) * standard distribution rate difference = (actual working hours-actual output standard working hours) * standard distribution rate.
1 1 1, department marginal contribution = income-variable cost-controllable fixed cost-uncontrollable fixed cost department pre-tax profit = department marginal contribution-management expenses.
1 12, return on investment = marginal contribution of departments/residual income of assets = marginal contribution of departments-assets of departments * cost of capital.
1 13, operating cash flow = annual cash income-cash recovery rate of expenditure = operating cash flow/average residual cash flow of total assets = operating cash inflow-departmental assets * capital cost.