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A Basic Guide for valuing a company part 8

cũng như cung cấp một loạt các bụi cây cảnh và cây bệnh lý dịch vụ. Nhiều cung cấp công cụ làm vườn, tùy thuộc vào vị trí, cũng có thể bán và cung cấp dịch vụ sửa chữa cho gasand điện lớn hơn sử dụng máy kéo và thực hiện. | 200 Grocery Store Reconstructed Expenses Add Other Income 201 463 10 710 Recast Income with Other Less Owner Salary Less Depreciation Less Interest Expense Net Income Before Taxes 175 605 - 45 000 - 14 464 - 43 580 72 561 Ratio Study The current ratio provides a rough indication of a company s ability to service its obligations due within the time frame of one year. Progressively higher ratios signify increasing ability to service short-term obligations. Bear in mind that liquidity in a specific business is critically an element of asset composition. Thus the acid test ratio that follows is perhaps a better indicator of liquidity overall. Current Ratio Total Current Assets or Total Current Liabilities Industry 2001 Median 6.3 2.4-5.5 The quick or acid test ratio is a refinement of the current ratio and more thoroughly measures liquid assets of cash and accounts receivable in the sense of ability to pay off current obligations. Higher ratios indicate greater liquidity as a general rule. Cash and Equivalents Receivables Quick Ratio -------- -------------. T. .----- or Total Current Liabilities Industry 2001 Median 1.3 .8-1.5 Less than a ratio of 1.0 can suggest a struggle to stay current with obligations. The median offers that the industry as a whole may wrestle somewhat with liquidity problems by the nature of doing business however the top 25 of reported companies reflect a ratio of 1.5. Thus we The Valuation Exercise 201 might conclude that this grocery store starts out close to the upper quartile from an industry perspective. . _ . . _ . Sales Sales Working Capital Ratio - - - or Total Working Capital1 Industry 2001 Median 17.4 16.3-9.5 1Current assets minus current liabilities equals working capital. A low ratio may indicate an inefficient use of working capital whereas a very high ratio often signals a vulnerable position for creditors. Our case starts out slightly above the industry median. At this point we can add three more for comparison. .