FINANCIAL MANAGEMENT FORMULA SHEET Value = NOWC ...

buttermilkbouncyManagement

Nov 10, 2013 (3 years and 11 months ago)

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FINANCIAL MANAGEMENT FORMULA SHEET


V
alue

=








)
(
...
)
(
)
(
WACC
1
FCF
WACC
1
FCF
WACC
1
FCF
2
2
1

)
PV(FVIF
i)
PV(1


FV
n
i,
n
n







)
FV(PVIF
i)
FV(1
i)
(1
1
FV
PV
n
i,
n
-
n
n
0






)
(FVIFA
PMT
i
1
i)
(1
PMT
FVA
n
i,
n
n







i)
(1
)
(FVIFA
PMT
i)
(1
FVA
FVAD
n
i,
n
n








)
(PVIFA
PMT
i
i)
(1
1
PMT
PVA
n
i,
-n
0







i)
(1
)
(PVIFA
PMT
PVA
PVAD
n
i,
0
0





















n
1
t
t
i
t
n
1
t
t
t
PVIF
CF
i
1
1
CF
PV
,












n
1
t
t
i
t
n
1
t
t
t
FVIF
CF
i
1
CF
FV
,

NOWC = OCA


OCL NOWC = C + AR + IN


AP


ACRU

NOPAT = EBIT (1
-
T)


F
CF =
NOPAT

+
Depreciation


Gross investment in operating capital

MVA =
Market value of stock + market value of debt


total ca
pital

EVA = EBIT(1
-
T)


NOWC*WACC = (Operating capital)(ROIC


WACC)








n
1
i
i
2
p
pi
p
P
r
r
ˆ
=
B
A
AB
A
A
2
B
2
A
2
A
2
A
w
1
w
2
w
1
w









)
(
)
(

N
d
d
N
d
N
d
N
1
t
t
d
B
r
1
M
r
r
1
1
INT
r
1
M
r
1
INT
V
)
(
)
(
)
(
)
(














N
2
d
N
2
1
t
t
d
B
2
r
1
M
2
r
1
2
INT
V
)
(
)
(







N
d
N
1
t
t
d
B
)
r
(1
price
Call
)
r
(1
INT
V












1
t
t
s
t
0
)
r
(1
D
P
ˆ

g
r
g)
(1
D
g
r
D
P
s
0
s
1
0





ˆ

ps
ps
ps
r
D
V










N
s
s
1
N
N
s
N
2
s
2
1
s
1
0
r
1
g
r
D
r
1
D
.

.

.
r
1
D
r
1
D
P











ˆ

cov cos
cov
s
Unre ered tatstartofyear
Payback Yearbeforefullre ery
Cashflowduringyear
 

CA
CR
CL


Sales
Inventoryturnoverratio
Inventories


CA Inventories
QR
CL



/365
AR
DSO
Sales


Pr arg
NI
ofitM in
Sales


Sales
Totalassetturnoverratio
TA


A
D
1
A
D
E
D
/
/
/



/
/
1/
D E
D A
D E



Pr
/
icepershare
P E
Earningpershare


NI Sales
ROA x
Sales TA


NI
ROE
CE


MRP
LP
DRP
IP
r
r





*

IP
r
r
r
RF
bill
T




*

n
I
I
I
IP
n
2
1
n




...

1
m
i
1
EAR
m
nom










n
m
nom
n
m
i
1
PV
FV










i
PMT
PV

NOPAT
ROIC
Operatingcapital





n
1
i
i
i
r
P
r
ˆ

i
2
n
1
i
i
P
r
r
)
ˆ
(






1
n
r
r
n
1
t
2
Avg
t






)
(

r
CV
ˆ






n
1
i
i
i
P
r
w
r
ˆ
ˆ
=
B
A
A
A
r
w
1
r
w
ˆ
)
(
ˆ



i
B
n
1
t
Bi
A
Ai
P
r
r
r
r
AB
Cov
)
ˆ
)(
ˆ
(
)
(






B
A
AB
AB
Cov










n
1
i
i
i
P
w

iM
M
i
2
M
M
i
i
r
r
Cov
b














)
,
(

p
M
RF
M
RF
p
r
r
r
r













ˆ
ˆ

ps
ps
ps
V
D
r


( )
i RF M RF i RF M i
r r r r r RP
 
    

Firm
M
RF
s
)
(RP


r

r




g
P
D
r
0
1
S


ˆ

1
0
ˆ
(1 )
e
D
r g
P F
 



WACC = w
d
r
d
(1
-
T) + w
ps
r
ps

+ w
ce
*r
s

t
0
t
t 1
(1 r )
n
CF
NPV CF

 



inf
(1 )
n
FV lows
PVoutflows
MIRR



EBIT
BEP
TA


NI
ROA
TA



NI Sales TA
ROE x x
Sales TA CE



1
CGS
Sales
GPM



NWC = CA


CL TA = CA + NFA