Liquidity/Short-term Solvency RatiosResults: in # of times, P, %

Name of Ratio Formula Unit1. Current Ratio Current Assets (CA) / Current Liabilities (CL)2. Quick/Acid-Test Ratio CA - (Inventories + Prepayments) / CL3. Cash Ratio/Cash Flow Ratio [Cash + Marketable Securities (MS)] / CL4. Cash Ratio [Cash + Cash Equivalents (CE)] / CL5. Operating Cash Flow Ratio Operating Cash Flow (OCF) / Total Liabilities (TL)6. Cash Debt Coverage Ratio (OCF - Dividend) / TL7. Working Capital CA - CL8. Working Capital Ratio Working Capital (WC) / Total Assets (TA) # , P9. WC from operation / TL WC from operations / TL10. Accounts Payable (AP)

Turnover (TO) RatioSales / AP #

11. AP TO Ratio Total Supplier Purchases / Ave. AP12. Debt Income Ratio TL / Net Income (NI)13. Long-term Debt Income Ratio Long-term Debt (LTD) / NI14. Defensive Interval Ratio [Cash + MS + Accounts Receivable (AR)] / Ave. Daily Purchases or

Expenses15. Interval Ratio NI / LTD (switch no. 13)

Efficiency/Activity/Turnover/Asset Mngt/Asset Utilization RatiosResults: in # of times (X) and days (D)

Name of Ratio Formula Unit1. Fixed Assets TO Sales / Net Fixed Assets X2. Current Assets TO Sales / CA X3. Total Assets TO Sales / TA X4. Working Capital TO Sales / WC X5. Work-in-process (WIP) TO Cost of Goods Sold (CGS) / WIP X6. Raw Materials TO Raw Materials (RM) Used / RM X7. Cash TO Sales / Cash X8. AR TO Sales / AR X9. Inventory TO CGS / Inventory X10. Daily Sales Outstanding

(DSO)AR / Ave. Daily Sales D

11. Daily Inventory Outstanding (DIO)

Inventory / Ave. Daily CGS

12. Daily Purchases Outstanding (DPO)

AP / Ave. Daily Purchases D

13. Cash Conversion Cycle or Operating Cycle

DSO + DIO - DPO D

14. Cash Balance Ratio Cash / Ave. Daily CGS15. Days of Liquidity Ratio Quick Assets / Ave. Daily Cash Expenses16. Degree of Leverage % change in net operating income / % change in sales17. Bad Debt Ratio Bad Debts / AR18. Cash Dividend Coverage

Ratio (CR)OCF / Dividends

19. Cash Maturity CR (OCF - Dividend) / Current portion of LTD20. Fixed Charge CR [NI before interest and tax + fixed charge (FC)] / FC21. Cash Reinvestment Ratio [Increase in Fixed Assets and WC] / [NI + depreciation (dep’n)]22. Operating Cycle Ratio Age of Inventory / Collection Period23. Margin of Safety (Expected Sales - Breakeven Sales) / Breakeven Sales24. Operating Costs to Sales Operating Costs / Sales

25. Receivables to Sales AR / Sales26. Inventory to Sales Ratio Inventory / Sales

Profitability/Performance RatiosResults: in Peso, times, %

Name of Ratio Formula Unit1. Gross Profit Margin Gross Profit / Sales2. Operating Profit Margin Operating Income or Earnings before Interest and Taxes (EBIT) / Sales3. Net Profit Margin (NPM) NI / Sales4. Return on (RO) Sales NI / Sales5. RO Assets NI / TA or NPM x TAT6. RO Equity NI / Shareholders’ Equity (SHE) or RO Assets x EM7. Leverage / Equity Multiplier

(EM)TA / SHE

8. RO Net Assets NI / Fixed Assets + WC9. RO Capital Employed EBIT / Capital Employed10. RO Investment NI / Investment or like Nos. 7 & 811. RO Capital [EBIT (1-Tax rate)] / Invested Capital12. Risk Adjusted RO Capital Expected Return / Value at risk or economic capital13. Cash Flow RO Investment Cash Flow / Market Recapitalization14. Cash Flow RO Asset OCF / TA15. Cash Return to SHE OCF / SHE16. Efficiency Ratio Non-interest Expense / Revenue17. Effective Tax Rate Income Tax Expense / Pretax Income18. Expense Ratio Expense / Sales19. Net Gearing Net Liabilities / SHE20. BEP Ratio EBIT / TA21. Contribution Margin Ratio (Sales - Variable Costs) / Sale

Solvency/Leverage/Coverage/Stability/Debt/Capital Structure/Debt Mngt RatiosResults: in # of times, P, %

Name of Ratio Formula Unit1. Debt Ratio TL / TA2. Debt to Equity Ratio TL / SHE3. LTD to Equity Ratio LTD / TA4. Times Interest Earned (TIE)

ratio/Interest Coverage RatioEBIT / Interest Expense or NI / Interest Expense

5. Debt Service CR Net operating income / Total Debt Service6. CF to Debt Ratio Operating CF / TL7. Capitalization Ratio or Capital

Structure RatioLTD / (LTD + SHE)

8. Equity Ratio SHE / TA9. Gearing Ratio LTD / SHE10. Ratio of CA to proprietor’s

fundCA / SHE

11. Fixed Assets to net worth FA after dep’n / SHE12. FA ratio or FA to LT funds FA after dep’n / LT funds13. Capital employment ratio Sales / SHE - non operating assets14. Capital to NCA SHE / NCA15. Cash and MS to WC (Cash + MS) / WC16. NCA to NCL NCA / NCL17. Retained Earnings (RE) to TA RE / TA18. Std to Debt (STD + Current Portion of LTD) / TL

Market Ratios

Name of Ratio Formula Unit1. Plowback ratio or Retention

Ratio1 - dpr or [Retained Earnings / (ES Basic)] x 100

2. Payout ratio Dividend / Earnings per Share (EPS)3. Dividend cover EPS / Dividend per share4. Dividend yield Dividend / Current Market Price5. PEG Ratio Price per earnings / Annual EPS growth6. P/E ratio Market Price per share / Diluted EPS7. P/CF ratio Market Price per Share / PV of OCF per share8. P/BV ratio Market Price per Share / Book Value price per share9. BV per Share Common equity / Shares Outstanding10. Price / Sales Ratio Market Price per Share / Gross Sales11. EV/EBITDA or enterprise

value multipleEnterprise value / EBITDA

12. EV/sales Enterprise value / Net sales13. EVA EBIT(1-Tax rate) - [(Total investors’ capital) x After tax cost of capital]14. EVA EC x [(NI/EC) - cost of EC]15. MVAR Market value of Equity - BV of Equity16. Tobin’s ratio Replacement Value / BV17. Market Capitalization Ordinary Shares / Market Price18. IGR RE/TA19. SGR ROE x RR / [1 - (ROE x RR)]