RER A: Product & Services: commodities vs. functions performed.
Noisy Champs: Distribution Channels: wholesale vs. retailer.
Vincennes: Customer & End Markets: brand vs. niche, one vs. many.
La Nation: Geography: few-multiple-global -> different jurisdictions.
Bercy: Sources:
Bus Station:Income statement: sales, gross profit, EBITDA, EBIT, net income / EPS in 10-k, 10-q, 8-k.
Parc de Bercy:Balance sheet data: Cash balance, debt balance, shareholder’s equity in 10-k, 10-q, 8-k..
Place D'Italie:Cash Flow statement: Depreciation and amortization, capital expenditure in 10-k, 10-q, 8-k.
Club Oz:Share data: Basic shares outstanding, option & warrants data in 10-k, 10-q, 8-k.
Les Catacombes de Paris:Market data: Share price data @ Bloomberg, credit ratings @ Moodies etc.
Financial Statistics:
Montparnasse Size:
Tour de Montparnasse: Sales/Revenue: top line on income statement, total dollar amount realized through the sale of products and services.
Ecole Miltaire: Gross Profit: sales - cost of goods sold (COGS), profit earned by a company after subtracting costs directly related to the production of its products & services; indicates operational efficiency; expressed as a percentage of sales (gross profit margin).
Champs de Mars: EBITDA (Earnings before interest and taxes + Amortizations and Depreciations): company’s total operating costs for producing products and services, fair comparison because it is independent of differences in capital structures & tax returns.
Tour Eiffel: EBIT: operating income, free from tax regime but includes non-cash D&A expense, which reflects discrepancies in different companies in capital spending and/or depreciation policy / acquisition history
Trocadero: Net income: bottom line, residual profit after all of a company’s expenses have been netted out or earnings available to equity holders once all obligations have been satisfied (i.e. suppliers, vendors, service providers, employees, utilities, lessors, lenders, state & local treasuries).
Arc de Triomphe: EPS (earnings per shre): net income on a per share basis
Champs-Elysees: Equity value (market cap): value represented by a givens company’s basic shares outstanding plus “in-the-money” stock options, warrants & convertible securities, i.e. fully diluted shares outstanding.
Gallery Lafayette: Enterprise value: sum of all ownership interests in a company & claims on its assets, considered independent of capital structure.
Franklin D. Roosevelt: Enterprise Value = Equity Value + Total Debt + Preferred Stock + Non-controlling interest + Cash & Cash Equivalents
Profitability:
Palais de L'Elysee: Gross Profit Margin: Measures percentage remaining after subtracting COGS.
driven by a company’s direct cost per unit (e.g., materials, manufacturing, and direct labour)
firm’s increase profit margin by improved sourcing / procurement of raw materials, enhanced pricing power, and by improving the efficiency of manufacturing facilities & processes.
Gross Margin = (Sales - COGS) / Sales
Petit Palais: EBITDA Margin: accepted standard for measuring operating profitability
EBITDA Margin = EBIDTA / Sales
Jardin des Champs Elysees: Net Income Margin: measures overall profitability vs. operating profitability
net of interest expense, thus, affected by capital structure => companies w/ similar operating margins may have different net income margins & tax regimes
historic annual EPS data is sourced from 10-k and adjust for non-recurring items.
data for projected 1/2/3-year EPS is obtained from consensus estimates.
Jardin de Tuilleries Return on Investment:
Return on invested capital: measures return provided by all capital provided to a firm, ROIC utilizes a pre-interest earnings statistic in numerator such as tax-effected EBIT
ROIC = EBIT / (Average net debt + equity)
-Angelina Paris Return on equity:
focused on shareholder’s return
ROE = net income / average shareholder's equity
Pyramide du Louvre Return on assets:
measures return generated by a company’s asset base, thereby providing a barometer of asset efficiency
ROA = net income / average total assets
Louvre Dividend yield:
measure of returns to shareholders, i.e. annual dividends per share paid by a company to its shareholder’s expressed as a percentage of its share price paid quarterly (annualize)
Implied Dividend Yield = (Recent Quarterly Dividend per Share XY) / current share price
Credit Profile:
Theatre de Chatelet: Leverage: refers to a company’s debt level
usually measured as a multiple of EBITDA/percentage of total capitalization
reveals great deal about financial policy, risk profile, and capacity for growth.
debt-to-ebitda: ratio of company’s debt to its EBITDA with higher multiple connoting to higher leverage; can be viewed as a measure of how many years of a company’s cash flows are needed to repay its debt.
Leverage = Debt/EBITDA
Ile de Cite: Coverage: refers to a company’s ability to cover its interest payment obligations. The higher the coverage ratio, the better positioned the company.
Interest Coverage Ratio = EBITDA / Interest Expense
Notre Dame: Credit ratings: assessment by independent agency of a company’s ability & willingness to make full & timely payments of amounts due on its debt obligations.