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% Document Info
\author{O (kiol98)}
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  /Title (financial-analysis.pdf)
  /Creator (Cheatography)
  /Author (O (kiol98))
  /Subject (Financial Analysis Cheat Sheet)
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\noindent
\begin{multicols}{3}
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    {\parbox{\dimexpr\textwidth-2\fboxsep\relax}{\noindent
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    \vspace{-2pt}\large{\bf{\textcolor{DarkBackground}{\textrm{Financial Analysis Cheat Sheet}}}} \\
    \normalsize{by \textcolor{DarkBackground}{O (kiol98)} via \textcolor{DarkBackground}{\uline{cheatography.com/24251/cs/5924/}}}
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  \mymulticolumn{2}{p{5.377cm}}{\bf\textcolor{white}{Cheatographer}}  \\
  \vspace{-2pt}O (kiol98) \\
  \uline{cheatography.com/kiol98} \\
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  \mymulticolumn{1}{p{5.377cm}}{\bf\textcolor{white}{Cheat Sheet}}  \\
   \vspace{-2pt}Published 31st October, 2015.\\
   Updated 12th May, 2016.\\
   Page {\thepage} of \pageref{LastPage}.
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  Measure your website readability!\\
  www.readability-score.com
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\begin{multicols*}{3}

\begin{tabularx}{5.377cm}{X}
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\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{Links Between Financial Statements}}  \tn
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\mymulticolumn{1}{p{5.377cm}}{\vspace{1px}\centerline{\includegraphics[width=5.1cm]{/web/www.cheatography.com/public/uploads/kiol98_1446311606_Capture d’écran 2015-10-31 à 18.12.17.png}}} \tn 
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\begin{tabularx}{5.377cm}{X}
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\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{Liquidity Ratios}}  \tn
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{Current Ratio =  Current Assets / Current Liabilities \newline % Row Count 2 (+ 2)
{\emph{Ability of the firm to cover its short term debts}} \newline % Row Count 4 (+ 2)
Quick Ratio = Cash + cash equiv + receivables / Curent Liabilities \newline % Row Count 6 (+ 2)
{\emph{Ability of the firm to cover its immediate short term debts}} \newline % Row Count 8 (+ 2)
Cash Ratio = Cash + Cash Equivalents / Curent Liabilities \newline % Row Count 10 (+ 2)
{\emph{Measures cash available to pay short term debts}} \newline % Row Count 11 (+ 1)
Working capital : \newline % Row Count 12 (+ 1)
Margin of safety to pay current obligations \newline % Row Count 13 (+ 1)
Current assets – current liabilities% Row Count 14 (+ 1)
} \tn 
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\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{FCF}}  \tn
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{Free Cash Flow for a project or a firm:  \newline % Row Count 1 (+ 1)
	= Earnings Before Interest and Taxes (EBIT) \newline % Row Count 2 (+ 1)
	x (1- tax rate)  \newline % Row Count 3 (+ 1)
	+ Depreciation \newline % Row Count 4 (+ 1)
	- Changes in working capital (without cash) \newline % Row Count 5 (+ 1)
	- Replacement Investments (Capex) \newline % Row Count 6 (+ 1)
	(+ Receipt from asset sale) \newline % Row Count 7 (+ 1)
(Note: you can also get free cash flows from operating cash flows + investing cash flows – interest (1-tax\%) and adjustment for dividends).% Row Count 10 (+ 3)
} \tn 
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\begin{tabularx}{5.377cm}{X}
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\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{Solvency Ratios}}  \tn
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{Times Interest Earned = Net Income + Interest Exp. +Tax Exp. / Interest Exp.  \newline % Row Count 2 (+ 2)
{\emph{Shows the firm's ability to pay the cost of financing}} \newline % Row Count 4 (+ 2)
Debt-to-Equity Ratio = Total Liabilities / Shareholder's Equity \newline % Row Count 6 (+ 2)
{\emph{Proportion of debt for each "dollar" invested by shareholders}}% Row Count 8 (+ 2)
} \tn 
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\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{Balance Sheet}}  \tn
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\mymulticolumn{3}{x{5.377cm}}{\bf\textcolor{white}{Income Statement}}  \tn
% Row 0
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Profit Margin = & Net Income / Sales Revenue & {\emph{\% of each "dollar" of sales that remains as net income.}} \tn 
% Row Count 5 (+ 5)
% Row 1
\SetRowColor{white}
Quality of Income = & Cash Flow from Operating Activities / Net Income & {\emph{Compares the cash flows earned (real) to net income declared (accounting principles!)}} \tn 
% Row Count 11 (+ 6)
% Row 2
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Fixed Assets \seqsplit{Turnover} = & Net Sales Revenue / Average Net Fixed Assets & {\emph{Shows the ability of the firm to use its fixed assets to generate revenue.}} \tn 
% Row Count 17 (+ 6)
% Row 3
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Return on Equity = & Net Income /  Average Shareholders' Equity & {\emph{How much income was earned for every "dollar" invested by owners?}} \tn 
% Row Count 22 (+ 5)
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\begin{tabularx}{5.377cm}{X}
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\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{ROA (Dupont Chart)}}  \tn
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\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{Structure of Income Statement}}  \tn
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\begin{tabularx}{5.377cm}{X}
\SetRowColor{DarkBackground}
\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{Return on Asset Ratios}}  \tn
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{Profit Margin = EBIT x (1-tax) / Net Sales \newline % Row Count 1 (+ 1)
Asset Turnover = Net Sales / Average Assets \newline % Row Count 2 (+ 1)
ROA  \newline % Row Count 3 (+ 1)
   = Profit margin x Asset turnover \newline % Row Count 4 (+ 1)
   = EBIT x (1-tax)  / Average Assets \newline % Row Count 5 (+ 1)
ROCE (return on capital employed) = EBIT x (1 – tax) / Capital Employed \newline % Row Count 7 (+ 2)
Capital employed	 \newline % Row Count 8 (+ 1)
	= Total assets – short term liabilities OR  \newline % Row Count 9 (+ 1)
 	= Long term liabilities + Equity \newline % Row Count 10 (+ 1)
Financial leverage: ROE – ROA \newline % Row Count 11 (+ 1)
Shows the relationship between the return on assets (all forms of funding) and the return on equity (only shareholder's investment). \newline % Row Count 14 (+ 3)
Should be positive (indicates that the company creates a bigger return than the cost of borrowing).  \newline % Row Count 17 (+ 3)
When return on capital employed is more than the expected return on investment =\textgreater{} Value Creation% Row Count 19 (+ 2)
} \tn 
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\begin{tabularx}{5.377cm}{X}
\SetRowColor{DarkBackground}
\mymulticolumn{1}{x{5.377cm}}{\bf\textcolor{white}{Investor Ratios}}  \tn
\SetRowColor{white}
\mymulticolumn{1}{x{5.377cm}}{EPS = Net Income* /Average Number of Shares Outstanding For The Period \newline % Row Count 2 (+ 2)
{\emph{Measures return on investment for shareholders.}} \newline % Row Count 3 (+ 1)
*If there are preferred dividends, the amount is subtracted from net income. \newline % Row Count 5 (+ 2)
Price-to-earnings ratio = Current Market Price Per Share / Earnings Per Share \newline % Row Count 7 (+ 2)
{\emph{Measures the relationship between the current share price and the earnings per share.  Indicates market expectations.}}% Row Count 10 (+ 3)
} \tn 
\hhline{>{\arrayrulecolor{DarkBackground}}-}
\end{tabularx}
\par\addvspace{1.3em}


% That's all folks
\end{multicols*}

\end{document}