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Why to invest in Mutual funds. What are benefits of investing in mutual funds?
How to choose a mutual fund? What are main principles to choose a mutual fund scheme?
What is process of investing in Mutual funds for a new investor?
Which are best 3 diversified equity funds to invest? Mutual fund schemes for long term wealth creation
About: Mutual Funds investing primarily in Debt securities like Govt Securities, Corporate Bonds etc.Read More
About: Mutual Fund, which invest the money primarily in shares and stocks.Read More
About: Mutual fund is common pool of money that brings together funds from different people and invests it in stocks, bonds or other assets as per wish of the investors.
About: Inflation is an increase in the prices of goods or services. With inflation, one must pay more money across time to acquire the same goods and services.
About: Interest is generally referred to return made from giving money to somebody for a certain period. In investing context, interest is generally income earned from fixed deposits, Post office schemes, ppf etc.
About: Advice is the suggession or plan given to somebody by an advisor or friend , as solution to a problem or endeavor.
About: Goal planning is a financial planning process to detail out the various needs of life. It can include retirement, purchase of car, etcRead More
About: Process of Continously monitoring the investments and taking action in case any change is required , is called Regular review and rebalancing.
OPM stands operating profit margin. Operating profit is calculated by dividing Operating Profit with sales.
Operating Profit * 100
Operating profit is calculated by subtracting operating expenses such as cost of goods sold, wages etc. from sales. It is prudent to exclude other income from sales before calculating Operating Profit because other income is not part of company’s primary business.
For example: If the operating profit of a company is Rs 50 crore, and the sales is Rs 100 crore. Then the Operating profit margin of the company is Rs 50 crore/ Rs 100 crore = 50%. Higher the OPM, better the company.
EPS stands for Earning per Share. It is calculated by dividing profit after tax with total outstanding shares.
Profit after tax
Total number of shares outstanding
For example: If the Profit after tax of a company is Rs 100 crore, and the total outstanding share is 10 crore. Then the EPS is Rs 100 crore/ 10 crore = Rs 10 per share.
Generally, it is good to have high EPS companies since company is earning high profit per share.
PE stands for Price to EPS ratio. Divide the current market price of the stock with its earning per share (EPS) to calculate PE ratio. One should use PE for growth stocks.
Market price per share
Earning per share
PE ratio tell us how much times investor is ready to pay for the profit/earnings.
For example. If the EPS of a company is Rs 10 and the market price of the stock is Rs 200. Then the PE ratio of the stock is 200/10 = 20. This signifies that investors are ready to pay Rs 20 per Re 1 of earnings.
Assuming other factors remaining same, a low PE stock is preferable over high PE.
BVPS stands for book value per share. Divide the shareholders’ equity with the average number of common shares outstanding to find the book Value per share.
Shareholder Funds/Net worth are owners’ fund. This includes money put by the shareholders as well as profits accumulated overs years.
Total Shareholder Funds
Total number of shares outstanding
For example. If the total shareholders’ equity of a company is Rs 1 crore and the total outstanding shares are 10 lakh. Then the BVPS ratio of the stock is 1 crore/10 lakh = Rs 10. This Rs 10 signifies that investors will get Rs 10 per share per the company get liquidate today.
Thus, higher book value per share is preferred.
PBV stands for Price-to-Book value. It is calculated by dividing market price of the stock with Book value per share.
Market Price per share
Book Value per share
For example. If the Book Value per share of a company is Rs 40 and the market price of the stock is Rs 200. Then the PBV ratio of the stock is 200/40 = 5. This signifies that investors are ready to pay 5 times the Book value per share of the company.
Typically, PBV should be used in commodity companies. A lower PBV stock is preferable.
EV stands for Enterprise Value. It is a measure of a company’s total value. Enterprise value is calculated by adding debt and deducting cash and cash equivalents from market capitalization of the company
EV/Sales tells how much we are paying for enterprise/firm as a whole in relation to sales. This takes into account the liabilities/loan of a company. Generally the lower EV/Sales is desirable, but a high EV/Sales could be a sign that investors are bullish on its future sales while low EV/Sales means that its future sale is not expecting to good.
EV/Sales should be use in either loss making companies or in companies with high PE. Lower the EV/sales the better it is.
ROE stands for Return on equity. It is calculated by dividing Net income with the total shareholders’ equity.
Profit after tax
Equity Shareholders' Funds
For example: If the Net Income (Profit after tax) of a company is Rs 20 crore and the shareholders’ Funds is Rs 100 crore. Then the ROE is Rs 20 crore/ Rs 100 crore = 20%.
This ratio signifies that how much profits company is generating by using shareholders money. A higher ROE is preferred since better ROE means company is efficiently using equity capital.
Beta is a measure of the sensitivity of a share price or value of a portfolio in comparison to the overall market. In other words, it signifies the correlation of stock price/scheme NAV or value of a portfolio and overall market. Higher the beta, higher the risk of the stock. Beta can be positive, negative and zero. If beta of two securities is positive, it means both the securities have positive correlation i.e. both will move in same direction. While, if beta of two securities is negative, it means both the securities have negative correlation i.e. both will move in opposite direction. If the beta of two securities is ‘0’, then there is no correlation between two securities i.e. both the securities can move in any direction.
If a stock/scheme has a Beta of 1.5 with BSE Sensex, it means if Sensex moves up 1%, the stock will move up by 1.5%. While if a stock/scheme has a Beta of -1.5 with BSE Sensex, it means if Sensex moves up 1%, the stock will go down by 1.5%.
Standard deviation is how much the returns are deviating from its mean. Higher the standard deviation, risker the stock/scheme. Thus, a low standard deviation is preferable.
For example, if the average return of a stock/scheme for 10 years is 20% and the standard deviation of that stock/scheme is 5% for 10 years. It means that the return of stock/scheme can move from 25% (20%+5%) to 15% (20% - 5%).
The Sortino ratio is the average return in excess of the risk-free rate per unit of the total risk of negative returns (standard deviation of negative returns). Here the standard deviation of negative return is used because it is assumed that investors are only concerned about negative returns. Higher Sortino ratio is preferable because investors are getting more rewards for 1% risk of negative returns.
Return of a Scheme/Portfolio/Share(Rp) - Risk-free return(Rf)
Standard deviation of negative returns(σd)
For example, if a stock/scheme has given a return of 22%, standard deviation of negative returns is 3% and the risk-free return is 7%. The sortino ratio is (22%-7%)/3% = 5%, which means investor are getting 5% return for 1% risk of negative returns.