Финансовые коэффициенты и определения (англ.)

Ratios Term Definitions

Assets, total = reported current and long-term assets
Assets, tangible = total assets — goodwill — intangible assets
SG&A = selling, general and administrative expenses
Capital, total = total debt + total preferred equity + total common equity + minority interest+ capital leases
Working capital = current assets — current liabilities
Capex = reported capital expenditures

Debt, total = short-term debt + long-term debt + hybrid debt portion + capital leases
Debt, net = total debt — cash

Cash = cash & cash equivalents + short-term investments
Cash flow from operations = core net income + depreciation + amortization + deferred taxes + other non-cash items from income statement (before capex and changes in non-cash working capital)
Cash flow, free = cash flow from operations — capex — dividends — change in non-cash working capital

EBITDA = revenue — cost of good sold — SG&A
EBITDA, cash = EBITDA excluding non-cash items
EBIT = EBITDA — depreciation — amortization

Net income, core = reported net income, adjusted to remove the impact of unusual items
Unusual items = merger & restructuring charges + impairment of goodwill + gain (loss) on sale of assets &
investments + asset writedown + insurance & legal settlements
Minority interest = ownership by others of consolidated subsidiaries (including common shares and preferred shares)

Ratio Definitions

Gross margin = gross profit / revenue
EBITDA margin = EBITDA / revenue
EBIT margin = EBIT / revenue
Net margin = core net income before minority interest / revenue

Return on equity = core net income after minority interest / average common equity
Return on capital = EBIT (1 — tax rate) / average total capital
Return on assets = EBIT (1 — tax rate) / average total assets

Debt / equity = total debt / total equity
Net debt / capital = (total debt — cash) / (total capital — cash)
Asset coverage = (total assets — goodwill — future tax liability — deferred credits — minority interest — current liabilities + current portion of long-term debt + short-term debt) / total debt

Current ratio = current assets / current liabilities
Quick ratio = (cash + receivables) / (total current liabilities)

Cash flow / interest = (cash flow from operations + after-tax interest expense) / after-tax interest expense
Cash flow / debt = cash flow from operations / total debt (assumes operating leases are not material)
Cash flow / capex = cash flow from operations / capex

Common dividend payout ratio = common dividends / core net income, less preferred dividends and minority interest
Total dividend payout ratio = common and preferred dividends / core net income, less minority interest
Common dividend / cash flow = common dividends / cash flow from operations

Оксана Гафаити,
Первая русская женщина, торгующая Америку.

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