재무회계 Security Firms Analysis

재무회계 Security Firms Analysis [재무회계] Security Firms Analysis.docx 목차 목 차 1. Securities Industry 1.1Equity Capital 1.2 Sales 2. RATIO 2.1. Types of Ratio and formulas 2.2. The Definition of Ratio 3. Company Evaluation 4. Summary 5. Conclusion of Evaluation 본문 2.2. The Definition of Ratio Active Ratios Receivables turnover . Receivable Turnover Ratio is one of the accounting activity ratios, a financial ratio. This ratio measures the number of times, on average, receivables (e.g. Accounts Receivable) are collected during the period. A popular variant of the receivables turnover ratio is to convert it into an Average Collection Period in terms of days. the Receivable turnover ratio is figured as "turnover times" and the Average collection period is in "days". Total asset turnover Asset turnover is a financial ratio that measures the efficiency of a companys use of its assets in generating sales revenue or sales income to the company. Fixed asset turnover Fixed asset turnover is the ratio of sales (on the Profit and loss account) to the value of fixed assets (on the balance sheet). It indicates how well the business is using its fixed assets to generate sales. Current ratio The current ratio is a financial ratio that measures whether or not a firm has enough resources to pay its debts over the next 12 months. It compares a firms current assets to its current liabilities. Safety Index Debt to equity The debt-to-equity ratio (D/E) is a financial ratio indicating the relative proportion of shareholders equity and debt used to finance a companys assets.[1] Closely related to leveraging, the ratio is also known as Risk, Gearing or Leverage. The two components are often taken from the firms balance sheet or statement of financial position (so-called book value), but the ratio may also be calculated using market values for both, if the companys debt and equity are publicly traded, or using a combination of book value for debt and market value for equity financially. Interest coverage A calculation of a companys ability to meet its interest payments on outstanding debt. Interest coverage is equal to earnings before interest and taxes for a time period, often one year, divided by interest expenses for the same time period. The lower the interest coverage, the larger the debt burden is on the company Profitability Index Net profit margin The profit margin is mostly used for internal comparison. It is difficult to accurately compare the net profit ratio for different entities. Individual businesses operating and financing arrangements vary so much that different entities are bound to have different levels of expenditure, so that comparison of one with another can have little meaning. A low profit margin indicates a low margin of safety: higher risk that a decline in sales will erase profits and result in a net loss, or a negative margin. Profit margin is an indicator of a companys pricing strategies and how well it controls costs. Differences in competitive strategy and product mix cause the profit margin to vary among different companies. 본문내용 ties industry can be divided into three roles: underwriter, broker and dealer. The first one plays the role of the seller or the mediator that is responsible for sales, when the stock is issued for the first time. The broker plays the role of the mediator who sells and buys, after the stocks are issued. The last one plays the role of the dealer who sells and buys with his or her own money. . Equi