Debt-to-Equity Ratio

Calculation
Debt to Equity measures the financial leverage a company has.
Telenor ASA's Debt to Equity Ratio for the fiscal year that ended in Dec. 2016 is calculated as

Debt to Total
= Total Debt /
Equity Equity

(Current Portion of Long- Long-Term Debt & Capital Lease Total

= + /
Term Debt Obligation) Equity

5942.62821
= (2565.49517035 + 6536.43552098) /
636

= 1.53
Telenor ASA's Debt to Equity Ratio for the quarter that ended in Sep. 2017 is calculated as

Debt to Total
= Total Debt /
Equity Equity

(Current Portion of Long- Long-Term Debt & Capital Lease Total

= + /
Term Debt Obligation) Equity

7093.33775
= (3288.63769743 + 6349.41695798) /
612

= 1.36
* All numbers are in millions

Explanation
In the calculation of Debt to Equity, we use the total of Current Portion of Long-Term
Debt and Long-Term Debt & Capital Lease Obligation divided by Total Equity. In some
calculations, Total Liabilities is used to for calculation.
Inventory Turnover Ratio
Calculation
Telenor ASA's Inventory Turnover for the fiscal year that ended in Dec. 2016 is calculated as

Inventory Turnover (A:

Dec. 2016)

= Cost of Goods Sold / Total Inventories

Cost of Goods Sold (A: / (Total Inventories (A: Total Inventories (A: Dec. 2
= + /
Dec. 2016) ( Dec. 2015) 2016 )) )

/ 2
= 4630.50562388 (261.121523266 + 210.472219302) /
( )

= 4630.50562388 / 235.796871284

= 19.64
Telenor ASA's Inventory Turnover for the quarter that ended in Sep. 2017 is calculated as

Inventory Turnover (Q:

Sep. 2017)

= Cost of Goods Sold / Total Inventories

Cost of Goods Sold (Q: / (Total Inventories (Q: Total Inventories (Q: Sep. 2
= + /
Sep. 2017) ( Jun. 2017) 2017 )) )

/ 2
= 932.35691868 (204.151594676 + 191.880788957) /
( )

= 932.35691868 / 198.016191816

= 4.71
* All numbers are in millions

Explanation
Inventory Turnover measures how fast the company turns over its inventory within a year. A
higher inventory turnover means the company has light inventory. Therefore, the company
spends less money on storage, write downs, and obsolete inventory.

Inventory Turnover in Days

Calculation
Days Inventory indicates the number of days of goods in sales that a company has in the
inventory.
Telenor ASA's Days Inventory for the fiscal year that ended in Dec. 2016 is calculated as

Days Inventory (A:

Dec. 2016)

Days in
= Total Inventories / Cost of Goods Sold *
Period

((Total Inventories (A: Total Inventories (A: 2 Cost of Goods Sold (A: Days in
= + / / *
Dec. 2015) Dec. 2016 )) ) Dec. 2016) Period

2
= ((261.121523266 + 210.472219302) / / 4630.50562388 * 365
)

= 235.796871284 / 4630.50562388 * 365

= 18.59
Telenor ASA's Days Inventory for the quarter that ended in Sep. 2017 is calculated as:

Days Inventory (Q:

Sep. 2017)

Days in
= Total Inventories / Cost of Goods Sold *
Period

((Total Inventories (Q: Total Inventories (Q: 2 Cost of Goods Sold (Q: Days in
= + / / *
Jun. 2017) Sep. 2017 )) ) Sep. 2017) Period

2
= ((204.151594676 + 191.880788957) / / 932.35691868 * 365 / 4
)
= 198.016191816 / 932.35691868 * 365 / 4

= 19.38
*All numbers are in millions