Liquidity Analysis Ratios

   Current Ratio

   Current Assets

Current Ratio =

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   Current Liabilities

   Quick Ratio

   Quick Assets

Quick Ratio =

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   Current Liabilities

Quick Assets = Current Assets - Inventories

   Net Working Capital Ratio

   Net Working Capital

Net Working Capital Ratio =

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   Total Assets

Net Working Capital = Current Assets - Current Liabilities

 Profitability Analysis Ratios

   Return on Assets (ROA)

   Net Income

Return on Assets (ROA) =

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   Average Total Assets

Average Total Assets = (Beginning Total Assets + Ending Total Assets) / 2

   Return on Equity (ROE)

   Net Income

Return on Equity (ROE) =

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   Average Stockholders' Equity

Average Stockholders' Equity 
= (Beginning Stockholders' Equity + Ending Stockholders' Equity) / 2

   Return on Common Equity (ROCE)

   Net Income

Return on Common Equity (ROCE) =

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   Average Common Stockholders' Equity

Average Common Stockholders' Equity 
= (Beginning Common Stockholders' Equity + Ending Common Stockholders' Equity) / 2

   Profit Margin

   Net Income

Profit Margin =

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   Sales

   Earnings Per Share (EPS)

   Net Income

Earnings Per Share (EPS) =

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   Weighted Average Number of Common Shares Outstanding

 Activity Analysis Ratios

   Assets Turnover Ratio

   Sales

Assets Turnover Ratio =

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   Average Total Assets

Average Total Assets = (Beginning Total Assets + Ending Total Assets) / 2

   Accounts Receivable Turnover Ratio

   Sales

Accounts Receivable Turnover Ratio =

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   Average Accounts Receivable

Average Accounts Receivable 
= (Beginning Accounts Receivable + Ending Accounts Receivable) / 2

   Inventory Turnover Ratio

   Cost of Goods Sold

Inventory Turnover Ratio =

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   Average Inventories

Average Inventories = (Beginning Inventories + Ending Inventories) / 2

 Capital Structure Analysis Ratios

   Debt to Equity Ratio

   Total Liabilities

Debt to Equity Ratio =

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   Total Stockholders' Equity

   Interest Coverage Ratio

   Income Before Interest and Income Tax Expenses

Interest Coverage Ratio =

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   Interest Expense

Income Before Interest and Income Tax Expenses 
= Income Before Income Taxes + Interest Expense

 Capital Market Analysis Ratios

   Price Earnings (PE) Ratio

   Market Price of Common Stock Per Share

Price Earnings (PE) Ratio =

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   Earnings Per Share

   Market to Book Ratio

   Market Price of Common Stock Per Share

Market to Book Ratio =

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   Book Value of Equity Per Common Share

Book Value of Equity Per Common Share 
= Book Value of Equity for Common Stock / Number of Common Shares

   Dividend Yield

   Annual Dividends Per Common Share

Dividend Yield =

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   Market Price of Common Stock Per Share

Book Value of Equity Per Common Share 
= Book Value of Equity for Common Stock / Number of Common Shares

   Dividend Payout Ratio

   Cash Dividends

Dividend Payout Ratio =

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   Net Income

 ROA = Profit Margin X Assets Turnover Ratio

   ROA = Profit Margin X Assets Turnover Ratio

   Net Income

   Net Income

   Sales

ROA =

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---------------------  X

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   Average Total Assets 

    Sales

   Average Total Assets 

Profit Margin = Net Income / Sales 
Assets Turnover Ratio = Sales / Averages Total Assets