You are on page 1of 9

FORMULA SHEET

M Cap

Price x No.Of Shares

PE

Price / EPS

EPS

Profit After Tax Pref. Dividend Dividend Tax / No.Of Shares

Book Value

Networth / No.Of Shares

Dividend Yield

Dividend % (Annualized) x Face Value / Daily Price


(Dividend Amt (Annual) / Latest M Cap) * 100

Dividend in Rs.

Dividend % x Face Value / 100

PBIDT

Operating Profit

EBIDTA

Operating Profit Other Income

PBDT

Gross Profit

APAT

Net Profit

Cash Profit

Net Profit (PAT) + Depriciation

Cash Profit Margin

(Cash Profit / Net Sales) * 100

Growth Query

((Current Year Previous Year) / Previous Year) * 100

Enterprise Value

M Cap + Debt Cash & Bank Balance

In Case Of Banks EV

M Cap + Deposits + Borrowings Cash & Money

CAGR Formula

((Current / Previous)^(1/n)-1) * 100


Where n = No.of years for CAGR.

Free Float

Total No.of Shares Promoters Holdings

Promoters Holdings Value =

Promoters Holding x Daily Price

Outstanding Shares

Equity / Face Value

OR

Networth

Share Capital + Tot.Reserves Tot. Reval. Reserves


(Total Shareholders Fund Revaluation Reserves)

OR

Capital Employed

Tot. Shareholders Fund + Total Debt Tot. Reval. Reserves


OR (Total Liabilities Revaluation Reserves)

Cost of Production

Raw Material Cost + Power & Fuel + Employee Cost +


Directors Remuneration + Other manufacturing Expenses +
Depriciation Closing Stock of WIP + Opening Stock of WIP +
Insurance.

Value of Output

Net Sales + Change in Stock

Selling Cost

Advertisement + Distribution Exps. + Commission Exp on Sales

Debtors Velocity (Days)

(((Latest Sun. Debtors + Prev. Sun. Debtors) / 2)/Latest Sales)


/ 365

Creditors Velocity (Days) =

((Latest Sun. Creditors + Previous Sun. Creditors) / 2) / ((Latest


Cost of Production + Latest Selling Cost) + (Closing Stock of
Finished Goods Opening Stock of Finished Goods)) / 365

Cash Profit (CP)

Net Profit (PAT) + Depreciation

Dividend Per Share(DPS) =

(Dividend Amount * Face Value) / Equity Paid up


(Dividend % * Face Value) / 100

OR

Dividend Payout %

[Dividend Amt / (Rep. Net Profit - Pref. Div. Div. Tax)] * 100

Free Float M Cap

[(100 Promoters Holdings %) * M Cap] / 100

VALUATION RATIOS :
P/E

Close Price / EPS

P / BV

Close Price / Book Value

P / CEPS

Close Price / [(Net Profit Pref.Dividend Dividend Tax +


Depreciation) / Equity Paid Up * FV]

EV / EBIDTA

M Cap + Debt - Cash / GP + Interest


Enterprise Value / Operating Profit

In Case of Banks EV

M Cap + Deposits + Borrowings Cash & Money

M Cap / Sales

M Cap / Gross Sales


In case of Banks & Finance Cos. Sales is including Other Income

OR

VALUATION RATIOS TTM :


P / E (TTM)

Close Price (Last Qtr Ended) / TTM EPS

P / BV(TTM)

Close Price (Last Qtr Ended) / TTM Book Value

P / CEPS (TTM)

Close Price (Last Qtr Ended) / [(Net Profit Last 4 Qtrs +


Depreciation Last 4 Qtrs) / Equity Paid Up (Last Qtr) * FV]

EV / EBIDTA (TTM)

(M Cap (Last Qtr) + Debt (Annual) Cash (Annual)) / (Gross


Profit (Last 4 Qtrs) + Interest (Last 4 Qtrs))

M Cap / Sales (TTM)

M Cap (Last Qtr) / Gross Sales (Last 4 Qtrs)

DUPONT MODEL :
Where,
Fixed Assets

Net Working Capital=

Current Assets Current Liabilities

Net Assets

Fixed Assets + Net Working Capital + Investments

Sales (For Banks)

Net Sales + Other Income

PBIDT / Sales %

[(Gross Profit + Interest) / Gross Sales] * 100


(Operating Profit / Gross Sales) * 100

Sales / Net Assets

Gross Sales / Net Assets

PBIDT / Net Assets

PBIDT (Operating Profit) / Net Assets

PAT / PBIDT %

PAT (Net Profit) / PBIDT (Operating Profit) * 100

Net Assets / Networth

Net Assets / Networth (Excl. Reval.Reserves)

ROE

[(Adj Net Profit Pref. Div.) / (Eq. Paid up + Reserves)] * 100

Net Block + Capital Work - in Progress

DUPONT RATIOS :

DUPONT MODEL (NEW) :


NP / PBT (X)

PAT (Reported Net Profit) / PBT (Profit Before Tax)

PBT / EBIT (X)

PBT (Profit Before Tax) / PBIT (Profit Before Interest and Tax)

EBIT / Sales (X)

PBIT (Profit Before Interest and Tax) / Net Sales

Sales / Assets (X)

Net Sales / Total Assets

Assets / Equity (X)

Total Assets / Total Shareholders Fund

ROE (X)

((NP / PBT) * (PBT / EBIT) * (EBIT / Sales) * (Sales / Assets) *


(Assets / Equity))
i.e.
(Multiplication of all the above 5 Ratios)

KEY RATIOS :
FOR MANUFACTURING, HOTEL, POWER AND SHIPPING INDUSTRIES
Debt to Equity Ratio

Total Debt / (Share Capital + Reserves)

Long Term Debt to Equity =

[(Total Debt Cash Credit Commercial Papers Bridge Loans


- Short Term Loans to Group Companies Short Term Loan to
Others Inter Corporate Deposits Working Capital Loans) /
(Share Capital + Reserves)]
OR
[Total Debt / Total Shareholders Fund]

Current Ratio

[(Total Current Assets + Deffered Tax Assets) / (Total Current


Liabilities + Deffered Tax Laibilities + Cash Credit + Bridge
Loans + Working Capital Advances + Loans From Group Cos. +
Commercial Papers + Intercorporate Deposits + Unsecured Short
Term Loans from Banks + Unsecured Short Term Loans from
Institutions + Unsecured Short Term Loans from Others)]

Fixed Asset Turnover


Ratio

(Sales / Gross Fixed Assets Excl. Capital Work in Progress Revaluation Reserves)
OR
(Gross Sales / Gross Block Revaluation Reserves)

Inventory Turnover
Ratio

Gross Sales / Total Inventory

Debtors Turnover Ratio

Gross Sales / Sundry Debtors

Interest Coverage Ratio

PBIT / Interest Expenses

Total Assets Turnover


Ratio

Gross Sales / (Net Fixed Assets + Investment + Working Capital)

PBIDTM %

(Adjusted Gross Profit + Interest / Gross Sales) * 100 OR


(PBIDT / Gross Sales) * 100

PBITM %

(Adj. Gross Profit + Interest Depreciation / Gross Sales) * 100


OR (PBIT / Gross Sales) * 100

PBDTM %

(Adj. Gross Profit / Gross Sales) * 100


(PBDT / Gross Sales) * 100

OR

CPM %

(Adj. Net Profit + Depreciation) / Gross Sales * 100


(CP / Gross Sales) * 100

OR

APATM %

(Adj. Net Profit / Gross Sales) * 100

PATM %

(Reported Net Profit / Gross Sales) * 100


(PAT / Gross Sales) * 100

ROCE %

((PBIT) / (Capital Emplyd Misc Exp)) * 100

RONW %

[(Rep.Net Profit - Pref.Div.) / (Eq. Paid Up +Total Res. Reval.


Res. + Eq.Share Warrants + Eq.Application Money)] * 100

OR

If Extra Ordinary Items are Exceeding 10% Of PBT then :


ROCE %

((Reported Net Profit + Tax + Interest + Deffered Tax + Fringe


Benefit Tax Prof./(Loss) on Sale of Assets - Prof./(Loss) on
Sale of Investments - VRS Adj. - Misc. Inc./Exp) / (Share
Capital + Total Reserves + Total Debt Reval. Reserves Misc.
Expenses not W/O)) * 100

RONW %

((Adj.Net Profit - Pref.Div.) / (Eq. Paid Up + Total Res. Reval.


Res. + Eq. Share Warrants + Eq. Application Money)) * 100

FOR FINANCE SECTOR COMPANIES :


Debt to Equity Ratio

Total Debt / (Share Capital + Reserves)

Long Term Debt to Equity =

[(Total Debt Cash Credit Commercial Papers Bridge Loans


- Short Term Loans to Group Companies Short Term Loan to
Others Inter Corporate Deposits Working Capital Loans) /
(Share Capital + Reserves)]
OR
[Total Debt / Total Shareholders Fund]

Current Ratio

[(Total Current Assets + Deffered Tax Assets) / (Total Current


Liabilities + Deffered Tax Laibilities + Cash Credit + Bridge
Loans + Working Capital Advances + Loans From Group Cos. +
Commercial Papers + Intercorporate Deposits + Unsecured Short
Term Loans from Banks + Unsecured Short Term Loans from
Institutions + Unsecured Short Term Loans from Others)]

Fixed Assets T / O Ratio

Total Income / (Gross Block Revaluation Reserves)

Inventory T / O Ratio

Total Income / Total Inventory

Debtors T / O Ratio

Total Income / Sundry Debtors

Total Assets Turnover


Ratio

Gross Sales / (Net Fixed Assets + Investment + Working Capital)

PBIDTM %

(Adjusted Gross Profit + Interest / Total Income) * 100


OR (PBIDT / Total Income) * 100

PBITM %

(Adj. Gross Profit + Interest Depreciation / Tot. Income) * 100


OR (PBIT / Total Income) * 100

PBDTM %

(Adj. Gross Profit / Total Income) * 100


(PBDT / Total Income) * 100

CPM %

(Adj. Net Profit + Depreciation) / Total Income * 100


OR (CP / Total Income) * 100

APATM %

(Adj. Net Profit / Total Income) * 100

PATM %

(Reported Net Profit / Total Income) * 100


(PAT / Total Income) * 100

ROCE %

((PBIT Extra Ord. Items) / (Capital Emplyd Misc Exp)) * 100

RONW %

[(Rep.Net Profit - Pref.Div.) / (Eq. Paid Up +Total Res. Reval.


Res. + Eq.Share Warrants + Eq.Application Money)] * 100

OR

OR

If Extra Ordinary Items are Exceeding 10% Of PBT then :


ROCE %

((Reported Net Profit + Tax + Interest + Deffered Tax + Fringe


Benefit Tax Prof./(Loss) on Sale of Assets + Prof./(Loss) on
Sale of Investments + VRS Adj. + Misc. Inc./Exp) / (Share
Capital + Total Reserves + Total Debt Reval. Reserves Misc.
Expenses not W/O)) * 100

RONW %

((Adj.Net Profit - Pref.Div.) / (Eq. Paid Up + Total Res. Reval.


Res. + Eq. Share Warrants + Eq. Application Money)) * 100

Additional Ratios For Financial Institutions :


Loan Turnover

Total Income / (Loan to Subsidiaries + Loans to Others)

Advances to Loan Funds

(Loan to Subsidiaries + Loan to Others) / Total Debt

Tot. Inc. to Cap. Emplyd

Total Income / (Share Capital + Total Reserves + Total Debt)

Int. Exp to Cap. Emplyd

Interest / (Share Capital + Total Reserves + Total Debt)

Capital Employed

Total Liabilities Total Revaluation Reserves

FOR BANKING COMPANIES :


Credit / Deposits

(Total Advances / Total Deposits) * 100

Investments / Deposits

(Total Investments / Total Deposits) * 100

Cash / Deposits

(Cash & Bank Balance / Deposits) * 100

Interest Exp / Interest Ear =

(Interest Expended / Interest Earned) * 100

Other Inc. / Total Inc.

(Other Income / Total income) * 100

Operating Exp. / Total Inc. =

((Employee Exp. + Operating Exp. & Admin. Exp - Power &


Electricity + Depreciation + Loss on Sale of Assets + Loss on
Sale of Investments + Loss on Reval. Of Investments + Loss on
Foreign Trans. + Loss on Buy Back of Shares + Loss on Buy
Back of Debentures + Other Expenses) / Total Income) * 100

Interest Inc. / Total Funds =

(Interest Earned / (Share Capital + Deposits + Tot.Res. Reval.


Res. + Eq. Share Warrants + Eq. Appli.Money + Borrowings +
Other Liabilities and Provisions)) * 100

Net Interest Income /


Total Funds

((Interest Earned Interest Paid) / (Share Capital + Deposits +


Tot. Res. Reval. Res. + Eq. Share Warrants + Eq. Appli.
Money + Borrowings + Other Liabilities and Provisions)) * 100

Non Interest Income /


Total Funds

(Other Income / (Share Capital + Deposits + Tot.Res. Reval.


Res. + Borrowings + Eq. Share Warrants + Eq. Appli. Money +
Other Liabilities and Provisions)) * 100

Operating Expenses /
Total Funds

((Employee Exp. + Operating Exp. & Admin. Exp - Power &


Electricity + Depreciation + Loss on Sale of Assets + Loss on
Sale of Investments + Loss on Reval. Of Investments + Loss on
Foreign Trans. + Loss on Buy Back of Shares + Loss on Buy
Back of Debentures + Other Expenses) / (Share Capital +
Deposits + Borrowings + Tot.Res. Reval. Res. + Eq.Share
Warrants + Eq. Appli. Money + Other Liab. & Prov.)) * 100

Profit Before Provisions / =


Total Funds

((Adjusted Net Profit + Provisions & Write Offs) / (Share


Capital + Deposits + Borrowings + Tot. Res. Reval. Res. +
Eq.Share Warrants + Eq. Appli. Money + Other Liabilities
and Provisions)) * 100

Net Profit / Total Funds

(Net Profit / (Share Capital + Deposits + Borrowings + Tot.Res.


Reval. Res. + Eq. Share Warrants + Eq. Appli. Money + Other
Liabilities and Provisions)) * 100

RONW %

[(Rep.Net Profit - Pref.Div.) / (Eq. Paid Up +Total Res. Reval.


Res. + Eq.Share Warrants + Eq.Application Money)] * 100

If Extra Ordinary Items are Exceeding 10% Of PBT then :


RONW %

((Adj.Net Profit - Pref.Div.) / (Eq. Paid Up + Total Res. Reval.


Res. + Eq. Share Warrants + Eq. Application Money)) * 100

NOTE :
1. All the Figures of Balance Sheet Items are taken as Average of Last Two Years and Figures
of Profit & Loss Items are Annualised.
2. In Margin Ratios Capital Market takes into consideration Gross Sales while Calculation.

You might also like