Financial Analysis Techniques

Free CFA Level I lesson in Financial Statement Analysis. 14 min read, ~2,031 words.

Four ratio families: activity (efficiency), liquidity (short-term coverage), solvency (long-term debt capacity), profitability (return generation). DuPont 3-step: ROE = Net Margin × Asset Turnover × Leverage. 5-step adds Tax Burden and Interest Burden. Cash Conversion Cycle = DOH + DSO − DPO. Lower is better (faster cash recovery). Ratios are...

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