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5 - Equity Analysis - Formula Sheet Mini Test Level II
5 - Equity Analysis - Formula Sheet Mini Test Level II
Concentration ratio =
Herfindahl index =
•
•
•
•
Equivalent # of firms =
Payout Ratio =
or
Intrinsic P/E =
or
Intrinsic P/E =
P/E =
T of gs =
H Model = V0 =
H Model E(R) =
PVGO =
___
FCFF from NI =
FCFF from CF =
___
FCFE from NI =
2
CFA Level II
Formula Sheet 5 - Equity Analysis
http://www.cpa-cfa.org
FCFE from CF =
or
Normalizing EPS:
• Historical Avg EPS =
• Avg ROE =
Justified P/B =
Justified P/S =
P/EBITDA =
EV/EBITDA =
PEG Ratio =
3
CFA Level II
Formula Sheet 5 - Equity Analysis
http://www.cpa-cfa.org
RI =
or
RI =
or
RI =
V0 =
RI TV=
•
-
-
Claims Valuation =
MVA =
EVA =
EVA spread =
ROC =
CFROI =
4
CFA Level II
Formula Sheet 5 - Equity Analysis
http://www.cpa-cfa.org
Market extraction method:
• NOI =
• Taxes payable =
• Cap Rate =
• MVRE =
Band-of-investment method:
• Debt interest rate (mortgage constant rate) =
• Cap rate =
Built up method:
• Cap Rate =
• MVRE =
Equity Reversion =