1. Analiza stranih kompanija

2. Gde možete naći informacije?
Yahoo finance – godišnji finansijski izveštaji- izabrati opciju Annual Data
Oznake uz stavke iz finansijskih izveštaja
Income statement – Bilans uspeha
Balance sheet – Bilans stanja
Cash flow statement – Izveštaj o novčanim tokovima

6. Osnovni podaci Poslovni prihodi = IS - Total Revenue
Neto rezultat = IS - Net income
Poslovna imovina = BS - Total assets
Kapital = BS - Total equity
EBIT = IS - Income Before Tax + IS - Interest Expense
EBITDA = IS - Income Before Tax + IS - Interest Expense + CF - Depreciation

7. Likvidnost
Tekući racio = (BS - Current Assets) / (BS - Total Current Liabilities)
Brzi racio = (BS - Current Assets - BS - Other Current Assets - BS - Inventory) / (BS - Total Current Liabilities)
Racio gotovine = BS - Cash And Cash Equivalents / BS - Total Assets
Neto obrtni kapital prema poslovnim prihodima = (BS - Total Current Assets - BS - Total Current Liabilities) / IS - Total Revenue/ BS - Total Equity

8. Periodi konverzije
Period naplate potraživanja = BS - Net Receivables / IS – Revenue × 365
Period plaćanja dobavljačima = BS - Accounts Payable / IS - Cost of Revenue × 365
Period konverzije zaliha = BS - Inventory / IS - Cost of Revenue × 365
Period konverije gotovine = Days sales outstanding + Inventory conversion period – Days payable outstanding/ BS - Total Equity

9. Zaduženost
Racio zaduženosti = BS - Total Liabilities / BS - Total Assets
Racio kamatonosne zaduženosti = (BS - Long Term Debt + BS - Short/Current Long Term Debt) / BS - Total Assets

10. Profitabilnost ROE = IS - Net Income / BS - Total Equity
ROA = IS - Operating Income / BS - Total Assets
ROIC = IS - Operating Income × (1-0.4) / Invested capital
Invested capital = BS - Total Assets - BS - Accounts Payable - BS - Accrued Expenses - BS - Other Current liabilities, Total - BS - Cash and Short Term Investments
Neto margina = IS - Net Income / IS - Total Revenue
Gross margin = (IS - Total Revenue - IS - Cost of Revenue) / IS - Total Revenue
Poslovna margina = IS - Operating Income / IS - Total Revenue
t Income / BS - Total Equity

11. Opterećenje kamatom
Kamatna stopa = IS - Interest Expense / (BS - Long Term Debt year n + BS - Short/Current Long Term Debt year n + BS - Long Term Debt year n-1 + BS - Short/Current Long Term Debt year n -1)/2
Racio pokrića kamate= EBIT / IS - Interest Expense
Net Income / BS - Total Equity

12. Z skor
T1 = (BS - Total Current Assets - BS - Cash & Equivalents - BS - Total Current Liabilities + BS - Notes Payable/Short Term Debt + BS - Current Port. of LT Debt/Capital Leases) / BS - Total Assets
T2 = BS - Retained Earnings (Accumulated Deficit) / BS - Total Assets
T3 = EBIT / BS - Total Assets
T4 = BS - Total Equity / BS - Total Liabilities
T5 = IS - Total Revenue / BS - Total Assets
Z’ score for private firms = × T × T × T × T × T5
Z” score for non-manufacturing industrials and emerging market credits = 6.56 × T × T × T × T4
Net Income / BS - Total Equity

13. Ostali pokazatelji
Racio isplate dividende = SUM (CF - Dividends Paid 4 years) / SUM (IS - Net Income 4 years)
Implicirana stopa rasta = ROE × (1 – Racio isplate dividende)
Održiva stopa rasta = ((Neto margina) × (1 - Racio isplate dividende) × (1 + Racio zaduženosti)) / ((Poslovna imovina/ Poslovni prihodi) – (Neto margina × (1- Racio isplate dividende) × (1+ Racio zaduženosti)))
Efektivna poreska stopa = IS - Income Tax Expense/ IS - Income Before Tax
Prosečna starost stalne imovine = BS - Accumulated Depreciation / CF - Depreciation
Net Income / BS - Total Equity

14. Tržišni pokazatelji
PE - Price earnings = Market capitalization / Net income = Price / Earnings per share
PB - Price to book value = Market capitalization / Total Equity I/ BS - Total Equity
PS - Price to sales = Market capitalization / Revenue