> ## Documentation Index > Fetch the complete documentation index at: https://docs.rangler.co/llms.txt > Use this file to discover all available pages before exploring further. # Ratios and formulas > Definitions, formulas, required metrics, units, earlier-period requirements, and market-data requirements for calculated financial ratios. All **56** ratios on this page are calculated by Rangler. Percentage results use decimal fractions: `0.184` represents `18.4%`. ## Asset Quality ### Intangibles to assets `intangibles_to_assets` · Ratio or multiple Derived asset quality measure calculated as intangible\_assets / total\_assets. * **Formula:** `intangible_assets / total_assets` * **Required metrics:** `intangible_assets`, `total_assets` * **Additional inputs:** None ## Banking ### Cost-to-income ratio `cost_to_income_ratio` · Percentage Derived banking measure calculated as operating\_expenses / operating\_income. * **Formula:** `operating_expenses / operating_income` * **Required metrics:** `operating_expenses`, `operating_income` * **Additional inputs:** None ### Loan to deposit `loan_to_deposit` · Ratio or multiple Derived banking measure calculated as loans\_and\_advances / customer\_deposits. * **Formula:** `loans_and_advances / customer_deposits` * **Required metrics:** `loans_and_advances`, `customer_deposits` * **Additional inputs:** None ### Loans to assets `loans_to_assets` · Ratio or multiple Derived banking measure calculated as loans\_and\_advances / total\_assets. * **Formula:** `loans_and_advances / total_assets` * **Required metrics:** `loans_and_advances`, `total_assets` * **Additional inputs:** None ### Net interest margin (NIM) `net_interest_margin` · Percentage Derived banking measure calculated as net\_interest\_income / average\_earning\_assets. * **Formula:** `net_interest_income / average_earning_assets` * **Required metrics:** `net_interest_income`, `loans_and_advances`, `investment_securities` * **Additional inputs:** Prior-period values ## Cash Flow ### Capex to depreciation `capex_to_depreciation` · Ratio or multiple Derived cash flow measure calculated as abs(capital\_expenditure) / abs(depreciation\_amortisation). * **Formula:** `abs(capital_expenditure) / abs(depreciation_amortisation)` * **Required metrics:** `capital_expenditure`, `depreciation_amortisation` * **Additional inputs:** None ### Capex to revenue `capex_to_revenue` · Ratio or multiple Derived cash flow measure calculated as abs(capital\_expenditure) / revenue. * **Formula:** `abs(capital_expenditure) / revenue` * **Required metrics:** `capital_expenditure`, `revenue` * **Additional inputs:** None ### Capital expenditure to operating cash flow `capex_to_ocf` · Ratio or multiple Derived cash flow measure calculated as abs(capital\_expenditure) / operating\_cash\_flow. * **Formula:** `abs(capital_expenditure) / operating_cash_flow` * **Required metrics:** `capital_expenditure`, `operating_cash_flow` * **Additional inputs:** None ### Free cash flow (FCF) `free_cash_flow` · Currency amount Derived cash flow measure calculated as operating\_cash\_flow - abs(capital\_expenditure). * **Formula:** `operating_cash_flow - abs(capital_expenditure)` * **Required metrics:** `operating_cash_flow`, `capital_expenditure` * **Additional inputs:** None ### Free cash flow margin `fcf_margin` · Percentage Derived cash flow measure calculated as free\_cash\_flow / revenue. * **Formula:** `free_cash_flow / revenue` * **Required metrics:** `operating_cash_flow`, `capital_expenditure`, `revenue` * **Additional inputs:** None ### Free cash flow to operating cash flow `fcf_to_ocf` · Ratio or multiple Derived cash flow measure calculated as free\_cash\_flow / operating\_cash\_flow. * **Formula:** `free_cash_flow / operating_cash_flow` * **Required metrics:** `operating_cash_flow`, `capital_expenditure` * **Additional inputs:** None ### Operating cash flow to net income `ocf_to_net_income` · Ratio or multiple Derived cash flow measure calculated as operating\_cash\_flow / profit\_after\_tax. * **Formula:** `operating_cash_flow / profit_after_tax` * **Required metrics:** `operating_cash_flow`, `profit_after_tax` * **Additional inputs:** None ### Operating cash flow to sales `ocf_to_sales` · Ratio or multiple Derived cash flow measure calculated as operating\_cash\_flow / revenue. * **Formula:** `operating_cash_flow / revenue` * **Required metrics:** `operating_cash_flow`, `revenue` * **Additional inputs:** None ## Coverage ### Cash flow to debt `cash_flow_to_debt` · Ratio or multiple Derived coverage measure calculated as operating\_cash\_flow / interest\_bearing\_debt. * **Formula:** `operating_cash_flow / interest_bearing_debt` * **Required metrics:** `operating_cash_flow`, `borrowings`, `bank_overdraft`, `lease_liabilities` * **Additional inputs:** None ### Ebitda interest coverage `ebitda_interest_coverage` · Ratio or multiple Derived coverage measure calculated as ebitda / finance\_costs. * **Formula:** `ebitda / finance_costs` * **Required metrics:** `operating_profit`, `depreciation_amortisation`, `finance_costs` * **Additional inputs:** None ### Ebitda less capex interest coverage `ebitda_less_capex_interest_coverage` · Ratio or multiple Derived coverage measure calculated as (ebitda - abs(capital\_expenditure)) / finance\_costs. * **Formula:** `(ebitda - abs(capital_expenditure)) / finance_costs` * **Required metrics:** `operating_profit`, `depreciation_amortisation`, `capital_expenditure`, `finance_costs` * **Additional inputs:** None ### Interest coverage `interest_coverage` · Ratio or multiple Derived coverage measure calculated as operating\_profit / finance\_costs. * **Formula:** `operating_profit / finance_costs` * **Required metrics:** `operating_profit`, `finance_costs` * **Additional inputs:** None ## Dividends ### Dividend payout `dividend_payout` · Percentage Derived dividends measure calculated as dividend\_per\_share / earnings\_per\_share. * **Formula:** `dividend_per_share / earnings_per_share` * **Required metrics:** `dividend_per_share`, `earnings_per_share` * **Additional inputs:** None ## Efficiency ### Asset turnover `asset_turnover` · Ratio or multiple Derived efficiency measure calculated as revenue / average\_total\_assets. * **Formula:** `revenue / average_total_assets` * **Required metrics:** `revenue`, `total_assets` * **Additional inputs:** Prior-period values ### Fixed asset turnover `fixed_asset_turnover` · Ratio or multiple Derived efficiency measure calculated as revenue / average\_property\_and\_equipment. * **Formula:** `revenue / average_property_and_equipment` * **Required metrics:** `revenue`, `property_and_equipment` * **Additional inputs:** Prior-period values ## Growth ### Operating cash flow growth `operating_cash_flow_growth` · Percentage Derived growth measure calculated as operating\_cash\_flow / prior\_comparable\_operating\_cash\_flow - 1. * **Formula:** `operating_cash_flow / prior_comparable_operating_cash_flow - 1` * **Required metrics:** `operating_cash_flow` * **Additional inputs:** Prior-period values ## Leverage ### Assets to equity `assets_to_equity` · Ratio or multiple Derived leverage measure calculated as total\_assets / total\_equity. * **Formula:** `total_assets / total_equity` * **Required metrics:** `total_assets`, `total_equity` * **Additional inputs:** None ### Debt to assets `debt_to_assets` · Ratio or multiple Derived leverage measure calculated as interest\_bearing\_debt / total\_assets. * **Formula:** `interest_bearing_debt / total_assets` * **Required metrics:** `borrowings`, `bank_overdraft`, `lease_liabilities`, `total_assets` * **Additional inputs:** None ### Debt to equity `debt_to_equity` · Ratio or multiple Derived leverage measure calculated as interest\_bearing\_debt / total\_equity. * **Formula:** `interest_bearing_debt / total_equity` * **Required metrics:** `borrowings`, `bank_overdraft`, `lease_liabilities`, `total_equity` * **Additional inputs:** None ### Equity ratio `equity_ratio` · Percentage Derived leverage measure calculated as total\_equity / total\_assets. * **Formula:** `total_equity / total_assets` * **Required metrics:** `total_equity`, `total_assets` * **Additional inputs:** None ### Liabilities to assets `liabilities_to_assets` · Ratio or multiple Derived leverage measure calculated as total\_liabilities / total\_assets. * **Formula:** `total_liabilities / total_assets` * **Required metrics:** `total_liabilities`, `total_assets` * **Additional inputs:** None ### Liabilities to equity `liabilities_to_equity` · Ratio or multiple Derived leverage measure calculated as total\_liabilities / total\_equity. * **Formula:** `total_liabilities / total_equity` * **Required metrics:** `total_liabilities`, `total_equity` * **Additional inputs:** None ### Net debt `net_debt` · Currency amount Derived leverage measure calculated as total\_debt - cash\_and\_equivalents. * **Formula:** `total_debt - cash_and_equivalents` * **Required metrics:** `borrowings`, `bank_overdraft`, `lease_liabilities`, `cash_and_equivalents` * **Additional inputs:** None ### Net debt to ebitda `net_debt_to_ebitda` · Ratio or multiple Derived leverage measure calculated as net\_debt / ebitda. * **Formula:** `net_debt / ebitda` * **Required metrics:** `borrowings`, `bank_overdraft`, `lease_liabilities`, `cash_and_equivalents`, `operating_profit`, `depreciation_amortisation` * **Additional inputs:** None ### Net debt to equity `net_debt_to_equity` · Ratio or multiple Derived leverage measure calculated as net\_debt / total\_equity. * **Formula:** `net_debt / total_equity` * **Required metrics:** `borrowings`, `bank_overdraft`, `lease_liabilities`, `cash_and_equivalents`, `total_equity` * **Additional inputs:** None ### Total debt `total_debt` · Currency amount Derived leverage measure calculated as borrowings + bank\_overdraft + lease\_liabilities. * **Formula:** `borrowings + bank_overdraft + lease_liabilities` * **Required metrics:** `borrowings`, `bank_overdraft`, `lease_liabilities` * **Additional inputs:** None ### Total debt to capital `total_debt_to_capital` · Ratio or multiple Derived leverage measure calculated as interest\_bearing\_debt / (interest\_bearing\_debt + total\_equity). * **Formula:** `interest_bearing_debt / (interest_bearing_debt + total_equity)` * **Required metrics:** `borrowings`, `bank_overdraft`, `lease_liabilities`, `total_equity` * **Additional inputs:** None ## Liquidity ### Cash ratio `cash_ratio` · Ratio or multiple Derived liquidity measure calculated as cash\_and\_equivalents / current\_liabilities. * **Formula:** `cash_and_equivalents / current_liabilities` * **Required metrics:** `cash_and_equivalents`, `total_current_liabilities` * **Additional inputs:** None ### Current ratio `current_ratio` · Ratio or multiple Derived liquidity measure calculated as current\_assets / current\_liabilities. * **Formula:** `current_assets / current_liabilities` * **Required metrics:** `total_current_assets`, `total_current_liabilities` * **Additional inputs:** None ### Quick ratio `quick_ratio` · Ratio or multiple Derived liquidity measure calculated as (current\_assets - inventories) / current\_liabilities. * **Formula:** `(current_assets - inventories) / current_liabilities` * **Required metrics:** `total_current_assets`, `inventories`, `total_current_liabilities` * **Additional inputs:** None ## Per Share ### Book value per share `book_value_per_share` · Currency per share Derived per share measure calculated as owners\_equity / period\_shares. * **Formula:** `owners_equity / period_shares` * **Required metrics:** `equity_attributable_to_owners`, `shares_outstanding` * **Additional inputs:** None ### Operating cash flow per share `operating_cash_flow_per_share` · Currency per share Derived per share measure calculated as operating\_cash\_flow / period\_shares. * **Formula:** `operating_cash_flow / period_shares` * **Required metrics:** `operating_cash_flow`, `shares_outstanding` * **Additional inputs:** None ### Revenue per share `revenue_per_share` · Currency per share Derived per share measure calculated as revenue / period\_shares. * **Formula:** `revenue / period_shares` * **Required metrics:** `revenue`, `shares_outstanding` * **Additional inputs:** None ## Profitability ### EBITDA `ebitda` · Currency amount Derived profitability measure calculated as operating\_profit + abs(depreciation\_amortisation). * **Formula:** `operating_profit + abs(depreciation_amortisation)` * **Required metrics:** `operating_profit`, `depreciation_amortisation` * **Additional inputs:** None ### EBITDA margin `ebitda_margin` · Percentage Derived profitability measure calculated as ebitda / revenue. * **Formula:** `ebitda / revenue` * **Required metrics:** `operating_profit`, `depreciation_amortisation`, `revenue` * **Additional inputs:** None ### Effective tax rate `effective_tax_rate` · Percentage Derived profitability measure calculated as income\_tax / profit\_before\_tax. * **Formula:** `income_tax / profit_before_tax` * **Required metrics:** `income_tax`, `profit_before_tax` * **Additional inputs:** None ### Gross margin `gross_margin` · Percentage Derived profitability measure calculated as gross\_profit / revenue. * **Formula:** `gross_profit / revenue` * **Required metrics:** `gross_profit`, `revenue` * **Additional inputs:** None ### Nopat `nopat` · Currency amount Derived profitability measure calculated as operating\_profit \* (1 - effective\_tax\_rate). * **Formula:** `operating_profit * (1 - effective_tax_rate)` * **Required metrics:** `operating_profit`, `income_tax`, `profit_before_tax` * **Additional inputs:** None ### Operating margin `operating_margin` · Percentage Derived profitability measure calculated as operating\_profit / revenue. * **Formula:** `operating_profit / revenue` * **Required metrics:** `operating_profit`, `revenue` * **Additional inputs:** None ### Profit after tax margin `pat_margin` · Percentage Derived profitability measure calculated as profit\_after\_tax / revenue. * **Formula:** `profit_after_tax / revenue` * **Required metrics:** `profit_after_tax`, `revenue` * **Additional inputs:** None ### Profit before tax margin `pbt_margin` · Percentage Derived profitability measure calculated as profit\_before\_tax / revenue. * **Formula:** `profit_before_tax / revenue` * **Required metrics:** `profit_before_tax`, `revenue` * **Additional inputs:** None ## Returns ### Return on assets (ROA) `return_on_assets` · Percentage Derived returns measure calculated as profit\_after\_tax / average\_total\_assets. * **Formula:** `profit_after_tax / average_total_assets` * **Required metrics:** `profit_after_tax`, `total_assets` * **Additional inputs:** Prior-period values ### Return on capital employed (ROCE) `return_on_capital_employed` · Percentage Derived returns measure calculated as operating\_profit / average\_capital\_employed. * **Formula:** `operating_profit / average_capital_employed` * **Required metrics:** `operating_profit`, `total_equity`, `borrowings` * **Additional inputs:** Prior-period values ### Return on equity (ROE) `return_on_equity` · Percentage Derived returns measure calculated as owners\_profit / average\_owners\_equity. * **Formula:** `owners_profit / average_owners_equity` * **Required metrics:** `profit_attributable_to_owners`, `equity_attributable_to_owners` * **Additional inputs:** Prior-period values ### Return on tangible assets `return_on_tangible_assets` · Percentage Derived returns measure calculated as profit\_after\_tax / (total\_assets - intangible\_assets - total\_liabilities). * **Formula:** `profit_after_tax / (total_assets - intangible_assets - total_liabilities)` * **Required metrics:** `profit_after_tax`, `total_assets`, `intangible_assets`, `total_liabilities` * **Additional inputs:** None ## Valuation ### Dividend yield `dividend_yield` · Percentage Derived valuation measure calculated as dividend\_per\_share / price. * **Formula:** `dividend_per_share / price` * **Required metrics:** `dividend_per_share`, `price` * **Additional inputs:** Market data ### Earnings yield `earnings_yield` · Percentage Derived valuation measure calculated as earnings\_per\_share / price. * **Formula:** `earnings_per_share / price` * **Required metrics:** `earnings_per_share`, `price` * **Additional inputs:** Market data ### Enterprise value to EBITDA `ev_to_ebitda` · Ratio or multiple Derived valuation measure calculated as (market\_cap + net\_debt) / ebitda. * **Formula:** `(market_cap + net_debt) / ebitda` * **Required metrics:** `price`, `shares_outstanding`, `borrowings`, `bank_overdraft`, `lease_liabilities`, `cash_and_equivalents`, `operating_profit`, `depreciation_amortisation` * **Additional inputs:** Market data ### Price-to-book (P/B) `price_to_book` · Ratio or multiple Derived valuation measure calculated as price / book\_value\_per\_share. * **Formula:** `price / book_value_per_share` * **Required metrics:** `price`, `equity_attributable_to_owners`, `shares_outstanding` * **Additional inputs:** Market data ### Price-to-earnings (P/E) `price_to_earnings` · Ratio or multiple Derived valuation measure calculated as price / earnings\_per\_share. * **Formula:** `price / earnings_per_share` * **Required metrics:** `price`, `earnings_per_share` * **Additional inputs:** Market data ### Price-to-sales (P/S) `price_to_sales` · Ratio or multiple Derived valuation measure calculated as market\_cap / revenue. * **Formula:** `market_cap / revenue` * **Required metrics:** `price`, `shares_outstanding`, `revenue` * **Additional inputs:** Market data This documentation is built and hosted on [Mintlify](https://mintlify.com), a developer documentation platform.