Mini leksikon

Oppdatert 20. november 2002 av megler@netfonds.no
 

 

  • A-og-B-aksjer:
    A-aksjene er normalt hovedaksjen i et selskap. Alle A-aksjene er stemmeberettigede. B-aksjene er ikke stemmeberettigede. De fleste selskaper har bare en aksjeklasse.
  • Aksjekapital:
    Den delen av selskapets egenkapital som er skaffet til veie ved utstedelse av aksjer. Antall aksjer i selskapet multiplisert med pålydende verdi. AMS: Aksjesparing med skattefradrag. Gjelder både ved kjøp av enkelt aksjer og aksjefondsandeler.
  • Avkastning:
    Den forrentning du får av en aksje, beregnet på basis av aksjeutbytte og kursendring.
  • Betaverdi:
    Et uttrykk for hvordan en aksjes kurs svinger i forhold til markedet. Verdier større enn 1 indikerer at aksjens svingninger er større enn markedets, og beta mindre enn 1 indikerer mindre svingninger enn markedets.
  • Børspost:
    Et gitt antall aksjer til en verdi av cirka NOK 10.000 (for selskaper på SMB-listen ca. NOK 5.000). Oslo Børs fastsetter børspostens størrelse etter en løpende vurdering. Transaksjoner i Børsens handlesystem gjøres normalt i hele børsposter. Netfonds utfører ikke kjøp i odd-lot uten særskillt grunn. Informasjon om antall aksjer som inngår i en børspost i de respektive verdipapirene finnes på Netfonds' hjemmesider.
  • Emisjon:
    Utvidelse av aksjekapitalen ved utstedelse av nye aksjer. En offentlig emisjon gir anledning for alle til å delta ved nytegningen. En rettet emisjon er forbeholdt enkelte investorer. (se også tegningsrett)
  • Kurtasje:
    Meglerprovisjon for kjøp og salg av verdipapirer. Kurtasjen beregnes per gjennomført handel per verdipapir.
  • Likviditet:
    Mål på hvor hyppig en aksje omsettes (omsetningshastighet). En likvid aksje - med høy omsetningshastighet- er normalt lettere å få omsatt enn en illikvid aksje.
  • Limit:
    Grense for det høyeste du er villig til å betale for en aksje eller det laveste du vil selge for. Benyttes ved kjøps- eller salgsordre til megler.
  • Markedsverdi:
    Antall aksjer i selskapet multiplisert med aksjekursen.
  • Megler:
    Mellommann. På børsen og i børsens handlesystem er det megleren som på vegne av kunder kjøper og/eller selger verdipapirer.
  • Price/Earnings-ratio(P/E):
    Angir forholdet mellom en aksjes børskurs og fortjeneste pr. aksje. Forholdstallet kan antyde om en aksje er billig eller dyr.
  • Shortsalg:
    Shortsalg er salg av finansielle instrumenter som oppdragsgiver på det gitte tidspunkt ikke eier. Shortsalg er tillatt i henhold til norsk lov på helt spesielle og strenge betingelser.
  • Splitt:
    En oppdeling slik at en "gammel" aksje gjøres om til flere nye aksjer. Summen av de nye aksjenes pålydende verdi blir lik den "gamle" aksjens pålydende. Selskapets aksjekapital blir derfor den samme. En splitt medfører at en aksjes kroneverdi synker og aksjen blir lettere omsettelig.
  • Spread:
    Differansen mellom kjøper- og selgerkurs.
  • Tegningsrett:
    Fortrinnsrett for en aksjonær til å kjøpe en eller flere nye aksjer ved en emisjon. I tegningsperioden er tegningsretten et verdipapir i seg selv.
  • Utbytte:
    Det beløpet selskapet utbetaler som aksjeeiernes andel av disponibelt overskudd.
  • Verdipapir:
    Fellesbetegnelse for bl.a. aksjer, grunnfondsbevis, fondsandeler, obligasjoner, opsjoner og futures.
  • Verdipapirkonto:
    En aksjeeiers konto i Verdipapirsentralen. Viser status og endringer i aksjebeholdningen.
  • Verdipapirsentralen (VPS):
    Sentralt EDB-register for registrering av eierforhold i aksjeselskaper.

Engelsk leksikon:

  • ADR:

  • American Depositary Receipt, a negotiable receipt that represents ownership of a foreign stock held in trust (as by the foreign branch of a U.S. bank) for an American citizen and that can be traded in dollars like shares of domestic companies.
  • ARPU:
    Average revenue per user, often used in the telecoms industry.
  • Bbl:
    Barrel, a standard measure of quantity in the oil industry. Is often used with a price; e.g. $19.00/bbl.
  • Book value:
    A company's shareholder's equity on the balance sheet. This is equal to total assets minus liabilities. Book value can also refer to the value of a particular asset on a balance sheet, which is equal to cost minus accumulated depreciation. Book values frequently differ from market prices.
  • bp:
    basis point. 1bp = one hundredth of 1% (0.01%). Used to measure changes in or differences between yields or interest rates.
  • CAGR:
    Compound annual growth rate. The year-over-year growth rate applied to an investment or other part of a company's activities over a multiple-year period. The formula for calculating CAGR is ((Current Value/Base Value)^(1/# of years))-1.
  • CAPEX:
    Capital expenditures. Cash spent to acquire or upgrade physical assets such as buildings and machinery.
  • Dates and reporting periods:
    Quarters and half-yearly periods are presented by a number and a letter. The number indicates the sequential period; the letter, whether the interim represented is a half or a quarter. For example, 1Q represents first quarter; 2H, second half. These relate to a company's fiscal year, expressed FY01 (fiscal year 2001).
  • DCF:
    A method of evaluating an investment by estimating future net cash flows and taking into consideration the time value of money.
  • DD&A:
    Depletion, depreciation and amortization.
  • Earnings:
    Revenues minus cost of sales, operating expenses, and taxes, over a given period of time; also called income.
  • E/P:
    Earnings over price; also referred to as earnings yield.
  • EBIT:
    Earnings before interest and tax.
  • EBITDA:
    Earnings before interest, tax, depreciation and amortization (free cash flow).
  • EBITDAR:
    Earnings before interest, depreciation, amortization and rent.
  • EBItDAX:
    Earnings before interest, deferred taxes, depreciation, amortization and exploration expenses -used in the oil & gas industry.
  • EPS:
    Earnings per share.
  • EV:
    Enterprise value is equal to the current value of outstanding shares (market cap) plus debt plus preferred stock minus cash.
  • EVA:
    The Economic Value Added (EVA) is a measure of dollar surplus value created on an investment.
  • EVA:
    = (Return on Capital - Cost of Capital)*(Capital Invested in Project).
    Economic Value Added and EVA are registered trademarks of Stern Stewart & Co. in the United States of America and throughout the world.
  • EV/EBITDA:
    This ratio is obtained by dividing EV (enterprise value) with EBITDA (earnings before interest, tax, depreciation, and amortization expenses).
  • Free cash flow:
    Net income plus depreciation and amortization, minus capital expenditures.
  • FTE:
    Full-time equivalent employee - a way of measuring headcount for reimbursement and other cost accounting purposes.
  • GDP:
    Gross domestic product. The total market value of all final goods and services produced in a country in a given year; equals total consumer, investment and government spending, plus the value of exports minus the value of imports.
  • GNP:
    Gross national product. GDP plus the income accruing to domestic residents as a result of investments abroad, minus the income earned in domestic markets accruing to foreigners abroad.
  • J-Curve:
    The immediate effect of a depreciation or devaluation of the exchange rate is to raise import prices and reduce export prices.
  • JV:
    Joint venture.
  • LIBOR :
    London Interbank Offered Rate is a standard benchmark for setting borrowing/lending rates.
  • Loss Reserves:
    Liabilities established by insurers and reinsurers to reflect the estimated cost of claim payments and the related expense that the insurer or reinsurer will ultimately be required to pay in respect of the policies it has written.
  • Loss to lease:
    The difference between the current rents a company charges residents, and the rents that the company could charge by rolling all of its leases to the current market rate.
  • Net Assets
    Assets minus intangible assets such as goodwill, patents and trademarks.
  • NAV:
    Net asset value.
  • Net Earned Premium:
    the portion of net written premium during or prior to a given period that is actually earned during such period.
  • NPLs:
    Non-performing loans
  • NOI:
    Net operating income. A company's operating income minus income taxes and minority interest.
  • OCF:
    Operating Cash Flow: The term used by most wireless carriers for EBITDA.
  • PBT:
    Profits before taxes.
  • P/E:
    Price over earnings. PE ratio or PER.
  • PEG:
    P/E ratio divided by year-on-year earnings growth.
  • Price/book:
    The current share price divided by the book value per share.
  • ROA:
    Return on assets.
  • ROCE:
    Return on capital employed. The profit of an organization for a financial year as a percentage of the capital employed.
  • ROE:
    Return on equity.
  • ROIC:
    Return On Invested Capital.
  • RONA:
    Return on net assets.
  • SMEs:
    small to medium-sized enterprises
  • SOP:
    Sum-of-the-parts valuation: a method of valuation in which the values of different parts or interests of a company are added together to give a value for the whole.
  • SVA:
    Shareholder value added is defined as after-tax profit (operating profit less equity loss plus goodwill amortization less interest less taxes) less the cost of capital.
  • WAC:
    Weighted average coupon. The coupon of each position in a mortgage pool (or other debt instrument portfolio) weighted by the size of the position to compute an average coupon for the pool.
  • WACC:
    Weighted average cost of capital: the average cost to a company of raising new funds. In its most basic form it is an average of the cost of new debt and the cost of new equity, weighted by the amount of each.
  • Yield:
    The annual rate of return of an investment expressed as a percentage. For shares, it is the annual dividend divided by the current share price.
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lørdag 25/02-2017 03:24:59