Rational investing with ratios : implementing ratios with enterprise value and behavioral finance / Yannick Coulon.
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| Main Author: | |
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| Format: | Ebook |
| Language: | English |
| Published: |
Cham :
Palgrave Macmillan,
2020.
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| Series: | Palgrave pivot.
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| Subjects: | |
| Online Access: | Springer Humanities and Social Science eBook Collection 2020 English/International |
Table of Contents:
- Intro
- Preface
- Why Do You Need This Book?
- Ratio Quality and Limitations
- Accuracy or Trend
- Comparisons Have Limitations
- Ratios Are a Beginning, Not an End Unto Themselves
- Ratios Are Numerous
- Ratios for Family Businesses and Corporations
- Enterprise Value (EV)
- A Touch of Behavioral Finance
- The Narrative Thread
- Acknowledgments
- Contents
- List of Figures
- List of Tables
- Chapter 1: Presentation of Key Financial Metrics and Enterprise Value
- 1.1 The Balance Sheet, Income and Cash Flow Statements
- 1.1.1 The Balance Sheet
- 1.4 Key Takeaways on Key Financial Metrics and Enterprise Value
- References and Further Reading
- Chapter 2: Efficiency Ratios
- 2.1 Efficiency Ratios
- 2.2 Inventory Days
- 2.3 Accounts Receivable Days
- 2.4 Accounts Payable Days
- 2.5 Working Capital Definitions
- 2.6 Non-Cash Working Capital Financing
- 2.7 Working Capital Management
- 2.8 Key Takeaways on Efficiency Ratios and Their Limitations
- References and Further Reading
- Chapter 3: Key Liquidity and Solvency Ratios
- 3.1 Liquidity Versus Solvency
- 3.2 Key Liquidity Ratios
- 3.2.1 The Three Main Liquidity Ratios
- 3.2.2 Liquidity Ratios of an Illiquid Company
- Company Omega
- 3.2.3 Liquidity Ratios of a Financially Sound Company
- Company Sigma
- 3.3 Key Solvency Metrics
- 3.3.1 Net Worth and Solvency Ratios
- 3.4 Case Studies of Three Companies Showing Contrasting Financial Situations
- 3.4.1 The Best-Case Scenario
- Liquidity Ratios
- Solvency Ratios
- 3.4.2 The Grey Scenario
- Liquidity Ratios
- Solvency Ratios
- 3.4.3 The Worst-Case Scenario
- Liquidity Ratios
- Solvency Ratios
- Solvency at Its Worst!
- 3.5 Key Takeaways on Liquidity Plus Solvency Ratios and Their Limitations
- EV Is Valued at Market Price
- EV and the Market Value of Equity
- 1.3.5 The EV Concept Applied to Comparable Companies
- 1.3.6 The EV Concept Applied to Real Estate Investments
- Successive Sales of Real Estate Property Alpha
- Creation of a New Lot, Beta, Within the Large Tract of Land in 2020
- 1.3.7 EV Equations
- Market Value of Debt Versus Book Value of Debt
- Market Capitalization Definition
- 1.3.8 EV Calculation (MTM Accounting)
- Company SEGA's EV Calculation
- 1.3.9 EV Calculation (Using DCF Method)
- On the Importance of Non-Core Assets
- Liability Versus Debt, Definition and Scope
- 1.1.2 The Income Statement
- 1.1.3 The Cash Flow Statement
- 1.2 The Cash Flows
- 1.2.1 FCFF and FCFE
- 1.2.2 EBITDA
- 1.2.3 Recurring Cash Flows
- Company Comparison: Bogey or Eagle?
- 1.3 Enterprise Value (EV)
- 1.3.1 Capital Employed and Operating Assets
- 1.3.2 Examples of Capital Employed Calculations
- The Treatment of Cash and Cash Equivalents Can Be Complex!
- Conclusions: SGVSL's Capital Employed
- Conclusions: SGVSL and SGVSL Excess's Capital Employed
- 1.3.3 Non-Core Assets
- 1.3.4 Definition of Enterprise Value