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CFA Financial Ratios

QuestionAnswer
receivable turnover annual sales/average receivables
days of sales outstanding 365/receivables turnover
inventory turnover cost of goods sold/average inventory
days of inventory on hand 365/inventory turnover
payables turnover purchases/average trade payables
number of days of payables 365/payables turnover ratio
total asset turnover revenue/average total assets
fixed asset turnover revenue/average net fixed assets
working capital turnover revenue/average working capital
current ratio current assets/current liabilities
quick ratio (cash + marketable securities + receivables)/current liabilities
cash ratio (cash + marketable securities)/current liabilities
defensive interval (cash + marketable securities + receivables)/average daily expenditures
cash conversion cycle days sales outstanding + days of inventory on hand - number of days of payables
debt-to-equity total debt/total shareholders' equity
debt-to-capital total debt/(total debt + total shareholders' equity)
debt-to-assets total debt/total assets
financial leverage average total assets/average total equity
interest coverage earnings before interest and taxes/interest payments
fixed charge coverage (earnings before interest and taxes + lease payments)/(interest payments + lease payments)
net profit margin net income/revenue
gross profit margin gross profit/revenue
operating profit margin operating income/revenue or EBIT/revenue
pretax margin EBT/revenue
return on assets(ROA) net income/average total assets or (net income + interest expense(1-tax rate))/average total assets
operating return on assets operating income/average total assets or EBIT/average total assets
return on total capital(ROTC) EBIT/average total capital
return on equity(ROE) net income/average total equity
return on common equity (net income - preferred dividends)/average common equity
equity turnover Revenue/Equity
tax burden Net Income/EBT
interest burden EBT/EBIT
EBIT/margin EBIT/Revenue
ROE Net Profit Margin * Equity Turnover ROA * Financial Leverage Net Profit Margin * Asset Turnover * Financial Leverage
Created by: Yuan Li Yuan Li on 2011-10-02



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