Alternative Performance Measures
Free cash flow = Cash flow from operating activities + Cash flow from investing activities
Net liquidity = Cash and cash equivalents + Current financial assets - Current financial liabilities - Non-current financial liabilities
Net working capital = Trade receivables + Inventories - Trade payables
Days sales outstanding (DSO) = Quarterly average of gross trade receivables for the past 4 quarters / Net sales for the past 4 quarters * 360
Days inventory outstanding, Inventory period (DIO) = Quarterly average of gross inventories for the past 4 quarters / Material expenses including changes in inventories for the past 4 quarters * 360
Material expenses incl. changes in inventories = Material expenses including changes in stock of finished goods and work in progress
Earnings before interest, taxes, depreciation, and amortization (EBITDA) = Net sales - Material expenses + Changes in inventories - Personnel expenses - Other operating expenses + Other operating income
Earnings before interest and taxes (EBIT) = Net sales - Material expenses + Changes in inventories - Personnel expenses - Other operating expenses + Other operating income - Depreciation, amortization, and impairment
Compound annual growth rate (CAGR) net sales, 5 years = (Net sales actual year / Net sales 5 years ago) ^ (1/5) - 1
Quick ratio = (Cash and cash equivalents + Current receivables) / Current liabilities
Payout ratio = (Dividend + Nominal share capital repayment) / Net income attributable to Belimo shareholders
Equity-to-fixed-assets ratio = (Non-current liabilities + Shareholders‘ equity) / Non-current assets
Equity ratio = Total equity / Assets
Return on equity (ROE) = Net income / average shareholders‘ equity as at December 31 and December 31 of previous year
Return on invested capital (ROIC) = Operating income (EBIT) / (Total assets - Cash and cash equivalents + Trade payables)
Return on dividend = Dividend / Stock market price as at December 31
Price-earnings ratio (P/E ratio) = Stock market price as at December 31 / Earnings per share (EPS)
Total shareholder return = (Stock market price as at end of period - Stock market price as at beginning of period + Paid dividend) / Stock market price as at beginning of period)
Total shareholder return, 5 years = (Stock market price as at end of period - Stock market price as at beginning of 5-year period + Paid dividends of last 5-year period) / Stock market price as at beginning of 5-year period)
Research and development in percent of net sales = Expenses of the Innovation division excluding effects of capitalized development costs (capitalization and amortization) and excluding costs of litigation divided by net sales