资产负债表比率包括流动性比率(衡量公司偿还短期债务的能力)和偿付能力比率(衡量公司偿还长期债务的能力)。
(1)流动性比率(Liquidity Ratio)(★★★★★)
Current Ratio = Current assets ÷ Current liabilities
Quick (acid test)Ratio=(Cash + Marketable securities+Receivables)÷Current liabilities
Cash Ratio=(Cash + Marketable securities) ÷Current liabilities
Current Assets=Cash + Marketable securities +Receivables+Inventory
Quick (acid test)的分子剔除了存货=Cash + Marketable securities +Receivables
Cash 的分子又剔除了应收账款=Cash +Marketable securities
三个比率依次口径越来越窄，比率越来越小。
(2)偿付能力比率(Solvency Ratio)(★★★)
Long-term debt-to-equity = Total long-term debt ÷ Total equity
Debt-to-equity = Total debt ÷ Total equity
Total debt = Total debt ÷Total assets
Financial leverage = Total assets ÷Total equity其中Financial leverage在杜邦方程(DuPont Equation)中还要用到。