Financial Resources Formulary: Unterschied zwischen den Versionen

== Dynamic investment indicators ==

:- APR for a monthly rate m: APR = 12 m

Given an annual percentage rate (APR) of r, the corresponding EAR with respect to n shorter periods of equal length is:

'''Effective annual rate with continuous compounding:''' effective annual rate for n → ∞ shorter periods

(being r the simple annual rate)

'''Real rate of return:''' rate of return adjusted for inflation

→  with i = inflation rate

'''Price of a bond:'''

'''Duration of a bond with maturity N:''' weighted average period of bond payments.  

'''Modified duration:''' a measure of volatility (elasticity) of bond prices:

'''(Expected) [[Wertpapierrendite|Stock return r]] (equity cost of capital):'''

'''Stock price P₀ in the single-period case:'''

'''Dividend discount model''' for the stock price P0 in the multi-period case until time horizon H:

'''Stock price P₀''' with specific dividends until time horizon H and growing dividends after H:

'''Stock price for a perpetual stream of dividends:'''

'''Stock price for a perpetual stream of growing dividends:'''

'''Return (Equity cost of capital) of a perpetual stream of dividends with growth:'''

'''Return on Equity with market values:'''

'''Payout ratio:''' fraction of earnings paid out as dividends:  

'''Plowback ratio:''' fraction of earnings retained by the firm:

'''Present value of growth opportunities (PVGO):''' net present value of a firm's future investments

'''Sustainable growth rate:''' rate at which a firm can steadily grow:

'''Discounted cash flow (DCF):''' value of the free cash flows that are available to investors plus company value at the planning horizon, all discounted to present:

== Rates of return on capital and assets: ==