特许金融分析师CFA一级必背高频考点：财报公式（三）
财报的公式真的非常多，今天小编为大家带来了第三部分。这部分不仅在财报中非常重要，在权益投资等科目中也会经常用到，可以说性价比非常高了！这也是财报的最后一部分公式了，同学们加油！
【考试科目】CFA一级：财报分析
【考频分析】考频：★★★
【复习程度】熟记公式
【高频考点】财报公式
Free Cash Flow to the Firm:
FCFF = net income + noncash charges + [cash interest paid × (1 − tax rate)] − fixed capital investment − working capital investment
FCFF = cash flow from operations + [cash interest paid × (1 − tax rate)] − fixed capital investment
Free Cash Flow to Equity:
FCFE = cash flow from operations − fixed capital investment + net borrowing
common-size income statement ratios=
common-size balance sheet ratios =
common-size cash flow ratios =
Original DuPont equation:
ROE =net profit margin×asset turnover ×leverage ratio
Extended DuPont equation:
Basic EPS =
Diluted EPS =
Coefficients of Variation:
CV sales =
CV operating income =
CV net income =
Inventories:
ending inventory = beginning inventory + purchases − COGS
FIFO COGS = LIFO COGS − (ending LIFO reserve − beginning LIFO reserve)
Long-Lived Assets:
straight-line depreciation =
DDB depreciation = (
) (cost – accumulated depreciation)
units-of-production depreciation =
Average age=
Total useful life=
Remaining useful life=
Deferred Taxes:
income tax expense = taxes payable + ΔDTL − ΔDTA
Debt Liabilities:
interest expense =market rate at issue×balance sheet value of the liability at the beginning of the period
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