Financial Education

Lexicon v1

Comprehensive financial glossary with 154+ terms

of 154 terms

Absolute Return

Fundamental

Total return on an investment over a period, regardless of benchmark

Absolute return measures the total return on an investment over a specific period without comparing it to any benchmark or market index. It focuses pu... ...read more

return performance hedge fund absolute

Accrual Accounting

Fundamental

Recognizes revenues and expenses when earned/incurred, not when cash moves

Accrual accounting recognizes revenues when they are earned and expenses when they are incurred, regardless of when cash actually changes hands. This... ...read more

accounting revenue expenses cash flow

Active Management

Fundamental

Human-driven security selection and timing to beat benchmarks

Active management involves portfolio managers making investment decisions to select securities and time market entries/exits with the goal of outperfo... ...read more

portfolio management benchmark fees alpha

Alpha

Fundamental

Excess return vs a risk-adjusted benchmark

Alpha represents the excess return generated by an investment or portfolio manager above what would be expected given the risk taken (as measured by b... ...read more

return risk-adjusted benchmark regression

Amortization

Fundamental

Systematic expense recognition for intangible assets

Amortization is the process of gradually expensing the cost of intangible assets (like patents, trademarks, or goodwill) over their useful life. Simil... ...read more

accounting intangible assets earnings depreciation

Balance Sheet

Fundamental

Snapshot of assets, liabilities, and equity at a point in time

The balance sheet provides a snapshot of a company's financial position at a specific point in time. It follows the fundamental accounting equation: A... ...read more

financial statement assets liabilities equity

Benchmark

Fundamental

A standard used to compare performance

A benchmark is a standard or reference point used to evaluate investment performance. Common benchmarks include the S&P 500, Russell 2000, or bond ind... ...read more

performance measurement comparison index alpha

Blue Chip

Fundamental

Large, established, financially sound companies

Blue-chip stocks refer to shares of large, well-established companies with strong financials, stable earnings, and long histories of reliable dividend... ...read more

large cap established dividends stable

Book Value

Fundamental

Equity on balance sheet; often per share

Book value represents the net asset value of a company according to its balance sheet (assets minus liabilities). Price-to-Book (P/B) ratio compares m... ...read more

valuation balance sheet equity p/b ratio

Break-even

Fundamental

When revenues equal total costs; zero profit

Break-even point is where total revenues equal total costs, resulting in zero profit. Fixed costs remain constant regardless of output, while variable... ...read more

costs revenue profitability fixed costs

CAGR (Compound Annual Growth Rate)

Fundamental

Formula: (Ending/Beginning)^(1/n) − 1

CAGR measures the smoothed annual growth rate of an investment over a specified period, assuming reinvestment of profits. It provides a more accurate... ...read more

growth rate compounding investment returns valuation

Callable Bond

Fundamental

Issuer can redeem early; usually offers higher yield as compensation

A callable bond allows the issuer to redeem the bond before maturity, typically when interest rates decline. To compensate investors for this risk, ca... ...read more

fixed income call risk yield redemption

Capital Expenditure (Capex)

Fundamental

Cash spent to acquire/upgrade long-term assets

Capital expenditures are funds used to acquire, upgrade, or maintain long-term assets like property, equipment, and technology. Capex appears as an in... ...read more

cash flow assets investment pp&e

Capital Structure

Fundamental

Mix of debt and equity financing

Capital structure refers to the proportion of debt and equity used to finance a company's operations and growth. Optimal capital structure balances ta... ...read more

financing debt equity optimal capital structure

Cash Conversion Cycle (CCC)

Fundamental

Days Inventory + Days Sales Outstanding − Days Payable Outstanding

CCC measures how quickly a company converts its investments in inventory and receivables into cash, minus how long it takes to pay suppliers. Shorter... ...read more

working capital cash flow efficiency inventory

Cash Flow

Fundamental

Movement of cash: operating (CFO), investing (CFI), financing (CFF)

Cash flow represents the movement of cash into and out of a business. It's categorized into operating cash flow (from core business activities), inves... ...read more

cash flow statement operating cash flow investing financing

Cash Flow from Operations (CFO)

Fundamental

Net income adjusted for non-cash items and working capital changes

CFO represents cash generated from core business operations. It starts with net income and adds back non-cash expenses (depreciation, amortization) wh... ...read more

operating cash flow working capital non-cash items free cash flow

Commercial Paper

Fundamental

Short-term unsecured corporate debt, usually <270 days

Commercial paper is short-term, unsecured debt issued by corporations to finance immediate needs. It typically matures in 1-270 days and is sold at a... ...read more

short-term debt unsecured corporate finance money market

Compound Interest

Fundamental

Interest on principal plus accumulated interest

Compound interest calculates interest on both the initial principal and accumulated interest from previous periods. This creates exponential growth ov... ...read more

interest exponential growth time value of money compounding

Convertible Bond

Fundamental

Debt instrument convertible into equity under certain terms

A convertible bond can be converted into a predetermined number of shares of the issuer's common stock. It offers downside protection through fixed in... ...read more

hybrid security equity conversion downside protection upside potential

Cost of Capital

Fundamental

Weighted Average Cost of Capital (WACC) blends cost of debt and equity

Cost of capital represents the required rate of return that a company must earn on its investments to satisfy creditors and shareholders. WACC weights... ...read more

wacc required return discount rate capital budgeting

Covenants

Fundamental

Debt contract clauses restricting borrower actions

Covenants are contractual clauses in debt agreements that restrict borrower behavior to protect lender interests. Common covenants include debt-to-equ... ...read more

debt agreements lender protection restrictions financial covenants

Credit Rating

Fundamental

Assessment of default risk (AAA to D)

Credit ratings assess the likelihood of a borrower defaulting on debt obligations. Rating agencies (S&P, Moody's, Fitch) assign letter grades from AAA... ...read more

credit risk default probability rating agencies borrowing costs

Current Ratio

Fundamental

Current Assets / Current Liabilities; liquidity gauge

Current ratio measures a company's ability to pay short-term obligations with short-term assets. A ratio above 1.0 indicates positive working capital,... ...read more

liquidity working capital short-term assets solvency

Current Yield

Fundamental

Coupon / Current Price (for bonds)

Current yield is the annual coupon payment divided by the current market price of a bond. It provides a snapshot of income return but doesn't account... ...read more

bond yield income return coupon market price

Days Sales Outstanding (DSO)

Fundamental

Average days to collect receivables

DSO measures how quickly a company collects payment after making a sale. Formula: (Accounts Receivable / Revenue) × 365. Lower DSO indicates efficient... ...read more

receivables collections working capital cash conversion cycle

DCF (Discounted Cash Flow)

Fundamental

Valuation by present value of projected free cash flows

DCF analysis estimates the value of an investment based on its expected future cash flows, discounted back to present value using a discount rate (typ... ...read more

valuation present value free cash flow intrinsic value

Debenture

Fundamental

Unsecured bond backed by creditworthiness

A debenture is an unsecured bond backed only by the issuer's creditworthiness, not by specific assets. Debentures typically offer higher yields than s... ...read more

unsecured debt corporate bonds credit risk yield

Debt-to-Equity (D/E)

Fundamental

Total Debt / Shareholders' Equity; leverage measure

D/E ratio compares a company's total debt to its shareholders' equity, measuring financial leverage. Higher ratios indicate greater financial risk but... ...read more

leverage financial risk capital structure debt ratio

Depreciation

Fundamental

Expense recognition for tangible assets over useful life

Depreciation allocates the cost of tangible assets over their useful life through systematic expense recognition. Methods include straight-line (equal... ...read more

accounting tangible assets expense recognition tax shield

Dilution

Fundamental

Reduction in ownership/share value due to new share issuance or options

Dilution occurs when a company issues additional shares, reducing existing shareholders' ownership percentage and earnings per share. Common causes in... ...read more

ownership share issuance earnings per share stock options

Discount Rate

Fundamental

Rate used to discount future cash flows; reflects risk and time value

Discount rate converts future cash flows to present value, accounting for time value of money and risk. In DCF analysis, it's typically the WACC. High... ...read more

present value time value of money risk premium dcf

Dividend

Fundamental

Cash (or stock) distribution to shareholders

Dividends are cash or stock distributions to shareholders from company profits. They provide income but reduce retained earnings available for growth.... ...read more

shareholder return income retained earnings dividend policy

Dividend Payout Ratio

Fundamental

Dividends / Net Income

Payout ratio shows what percentage of net income is distributed as dividends. High ratios (>80%) suggest mature companies with limited growth opportun... ...read more

dividend policy retention ratio growth maturity

Dividend Yield

Fundamental

Annual Dividend per Share / Price per Share

Dividend yield measures the income return from dividends relative to share price. Formula: (Annual Dividend / Current Price) × 100. Higher yields may... ...read more

income return valuation yield dividend sustainability

Duration

Fundamental

Interest-rate sensitivity of a bond; approx. % price change for 1% rate move

Duration measures a bond's price sensitivity to interest rate changes. Modified duration approximates the percentage price change for a 1% change in y... ...read more

bond risk interest rate sensitivity price volatility macaulay duration

EBIT (Earnings Before Interest and Taxes)

Fundamental

Operating profit; proxy for core operations

EBIT represents earnings before interest and taxes, measuring operating profitability before financing and tax effects. It's calculated as Revenue - O... ...read more

operating profit earnings profitability operating margin

EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization)

Fundamental

Proxy for operating cash flow pre-capex; can overstate cash generation

EBITDA measures earnings before interest, taxes, depreciation, and amortization. It approximates operating cash flow before capital expenditures. Whil... ...read more

operating cash flow earnings depreciation cash flow proxy

Economic Moat

Fundamental

Sustainable competitive advantage

Economic moat refers to a company's sustainable competitive advantage that protects profits from competitors. Types include cost advantages, network e... ...read more

competitive advantage pricing power barriers to entry sustainability

Effective Tax Rate

Fundamental

Income tax expense / Pre-tax income

Effective tax rate is the actual tax paid as a percentage of pre-tax income. It differs from statutory rates due to tax credits, deductions, and speci... ...read more

taxation after-tax income tax planning statutory rate

Efficient Frontier

Fundamental

Portfolio theory curve of max expected return for a given risk

Efficient frontier represents optimal portfolios that maximize expected return for a given risk level (or minimize risk for a given return). Portfolio... ...read more

portfolio theory optimization risk-return tradeoff asset allocation

Enterprise Value (EV)

Fundamental

EV = Market Cap + Net Debt + Minority Interest + Preferred Equity − Cash

Enterprise value measures the total value of a company including debt and excluding cash. It represents the cost to acquire the entire business. EV mu... ...read more

valuation total value acquisition ev multiples

EPS (Earnings Per Share)

Fundamental

Net Income / Weighted Avg Shares

EPS measures net income per outstanding share. Basic EPS excludes dilutive securities, while diluted EPS includes all potential shares. EPS drives P/E... ...read more

earnings per share valuation p/e ratio

ESG (Environmental, Social, Governance)

Fundamental

Non-financial metrics for sustainability and governance

ESG factors evaluate corporate responsibility in environmental impact, social practices, and governance quality. ESG investing considers these factors... ...read more

sustainability corporate responsibility governance impact investing

EV/EBITDA

Fundamental

Valuation multiple independent of capital structure

EV/EBITDA compares enterprise value to earnings before interest, taxes, depreciation, and amortization. It normalizes valuation across companies with... ...read more

valuation multiple enterprise value ebitda comparables

Expense Ratio

Fundamental

Annual fee of a fund as % of assets

Expense ratio measures the annual cost of owning a mutual fund or ETF as a percentage of assets. It includes management fees, administrative costs, an... ...read more

fund costs management fees etf mutual fund

Factor Investing

Fundamental

Tilting portfolios toward traits like value, momentum, size, quality, low vol

Factor investing targets specific return drivers (factors) like value, momentum, quality, size, and low volatility. It goes beyond market-cap weightin... ...read more

smart beta factor premiums systematic investing alternative weighting

Fair Value

Fundamental

Theoretical value under current conditions

Fair value is the theoretical price of an asset under current market conditions. In accounting, it requires marking assets to market prices. In invest... ...read more

market price intrinsic value mark to market valuation

FCF (Free Cash Flow)

Fundamental

Cash available for dividends, debt reduction, or reinvestment

Free cash flow is cash remaining after capital expenditures and working capital needs. FCF = CFO - Capex. It represents cash available for dividends,... ...read more

cash flow capital expenditures financial flexibility valuation

FIFO/LIFO

Fundamental

Inventory accounting methods affecting COGS and taxes

FIFO (First In, First Out) assumes oldest inventory sells first, while LIFO (Last In, First Out) assumes newest inventory sells first. These methods a... ...read more

inventory accounting cost of goods sold tax planning inflation

Fixed Income

Fundamental

Bonds and debt instruments paying interest and principal

Fixed income securities provide regular interest payments and return of principal at maturity. Common types include government bonds, corporate bonds,... ...read more

bonds debt securities income portfolio diversification

Forward P/E

Fundamental

Price / Next 12 months expected EPS

Forward P/E uses analyst estimates of next year's EPS instead of historical earnings. It's useful for growth companies but depends on forecast accurac... ...read more

valuation earnings estimates growth stocks forecasting

Fundamental Analysis

Fundamental

Valuation based on financials, industry, management, and macro

Fundamental analysis evaluates securities based on economic, financial, and qualitative factors. It includes analyzing financial statements, industry... ...read more

valuation financial analysis intrinsic value bottom-up analysis

GAAP/IFRS

Fundamental

Accounting standards frameworks (US GAAP vs International)

GAAP (Generally Accepted Accounting Principles) is the US accounting standard, while IFRS (International Financial Reporting Standards) is used global... ...read more

accounting standards financial reporting global comparability compliance

Goodwill

Fundamental

Intangible asset from acquisitions: purchase price − fair value of net assets

Goodwill represents the premium paid for an acquisition above the fair value of identifiable net assets. It's tested annually for impairment. Goodwill... ...read more

intangible assets acquisitions impairment testing premium

Gross Margin

Fundamental

(Revenue − COGS) / Revenue

Gross margin measures profitability after direct costs of producing goods/services. Formula: (Revenue - Cost of Goods Sold) / Revenue. Higher margins... ...read more

profitability pricing power cost control margin analysis

High Water Mark

Fundamental

For performance fees; manager only earns on new highs

High water mark prevents hedge fund managers from earning performance fees on recovered losses. Managers only earn fees on returns above the previous... ...read more

performance fees hedge funds incentive alignment loss recovery

Hurdle Rate

Fundamental

Minimum acceptable return for a project/investment

Hurdle rate is the minimum required rate of return for an investment to be worthwhile. It typically equals the cost of capital (WACC) plus a risk prem... ...read more

required return capital budgeting risk premium investment criteria

Income Statement

Fundamental

Revenue → Expenses → Net Income over a period

Income statement shows revenues, expenses, and profits over a period (quarterly/annual). It follows the flow: Revenue - Cost of Goods Sold = Gross Pro... ...read more

financial statement revenue expenses profit and loss

Index Fund

Fundamental

Passive fund tracking a benchmark

Index funds aim to replicate the performance of a market index (like S&P 500) rather than beat it. They offer low costs, diversification, and tax effi... ...read more

passive investing low cost diversification market tracking

Insider Trading

Fundamental

Trading on non-public material information; illegal in most jurisdictions

Insider trading involves buying/selling securities based on material non-public information. Legal for company insiders with proper disclosure, but il... ...read more

market manipulation material information securities law fair disclosure

Interest Coverage

Fundamental

EBIT or EBITDA / Interest Expense

Interest coverage measures ability to pay interest on debt. Ratio above 2-3x is generally comfortable. Low coverage increases default risk. Formula: E... ...read more

debt service credit risk financial health leverage analysis

Internal Rate of Return (IRR)

Fundamental

Discount rate making NPV = 0 for cash flows

IRR is the discount rate that makes the net present value of cash flows equal zero. It represents the expected rate of return for an investment. Proje... ...read more

capital budgeting expected return discount rate project evaluation

Inventory Turnover

Fundamental

COGS / Average Inventory

Inventory turnover measures how quickly inventory sells. Higher turnover indicates efficient inventory management and strong demand. Formula: Cost of... ...read more

inventory management sales efficiency working capital supply chain

Investment-Grade (IG)

Fundamental

Bonds rated BBB−/Baa3 or higher

Investment-grade bonds have credit ratings of BBB- or higher (S&P/Moody's). They're considered lower risk than high-yield (junk) bonds and appeal to c... ...read more

credit rating bond quality default risk conservative investing

LBO (Leveraged Buyout)

Fundamental

Acquisition financed primarily with debt; target's cash flows service debt

LBO involves acquiring a company using mostly debt financing. The target's cash flows service the debt, with equity providing upside. Private equity f... ...read more

private equity acquisition debt financing financial engineering

Leverage

Fundamental

Use of borrowed money to amplify returns and risk

Financial leverage uses debt to increase potential returns. While it can amplify gains, it also increases risk of losses. Operating leverage refers to... ...read more

debt return amplification risk increase capital structure

Loan-to-Value (LTV)

Fundamental

Loan amount / Asset value

LTV measures loan size relative to collateral value. Higher LTV increases lender risk but allows borrowers more leverage. Mortgage LTV above 80% often... ...read more

collateral lending risk leverage down payment

Long/Short

Fundamental

Strategy taking long positions in expected winners, short positions in losers

Long/short strategy involves buying undervalued securities (long) and selling overvalued ones (short). Market-neutral versions aim to eliminate market... ...read more

hedge funds stock picking market neutral alpha generation

Margin (Profit Margin)

Fundamental

Generic for profitability ratios

Profit margins measure profitability efficiency: Gross Margin (revenue after direct costs), Operating Margin (after operating costs), Net Margin (bott... ...read more

profitability efficiency pricing power cost control

Mergers & Acquisitions (M&A)

Fundamental

Corporate consolidation and purchase activities

M&A involves companies combining through mergers or one acquiring another. Motivations include synergies, market expansion, cost savings, and diversif... ...read more

corporate strategy consolidation synergies valuation

MOIC (Multiple on Invested Capital)

Fundamental

Value / Invested capital; doesn't consider time value like IRR

MOIC measures total return on invested capital without considering time. Formula: (Distributions + Current Value) / Invested Capital. Used in private... ...read more

private equity return measurement absolute return capital efficiency

Money Market

Fundamental

Short-term debt instruments (T-bills, CP, repos)

Money market instruments are short-term, low-risk debt securities with maturities under one year. Examples include Treasury bills, commercial paper, a... ...read more

short-term investments low risk liquidity cash equivalents

Multiples

Fundamental

Valuation ratios: P/E, EV/EBITDA, P/Sales, P/FCF, P/B, etc.

Valuation multiples compare price to financial metrics. They normalize for size differences and allow cross-company comparisons. Commonly used: P/E, E... ...read more

valuation comparables ratios relative valuation

Net Asset Value (NAV)

Fundamental

Fund's assets minus liabilities per share

NAV represents the value of a mutual fund's assets minus liabilities, divided by outstanding shares. Formula: (Assets - Liabilities) / Shares Outstand... ...read more

mutual funds asset valuation share pricing fund performance

Net Debt

Fundamental

Total Debt − Cash and Equivalents

Net debt measures actual borrowing burden by subtracting cash holdings from total debt. Formula: Total Debt - Cash & Cash Equivalents. Lower net debt... ...read more

balance sheet debt burden financial flexibility liquidity

Net Present Value (NPV)

Fundamental

PV of cash inflows minus PV of outflows using a discount rate

NPV calculates the present value of future cash flows minus initial investment. Positive NPV indicates value creation. Formula: NPV = Σ [Cash Flow / (... ...read more

capital budgeting present value discounting value creation

Net Working Capital (NWC)

Fundamental

Current Assets − Current Liabilities (often excluding cash and debt)

NWC measures operational liquidity. Formula: Current Assets - Current Liabilities (excluding cash/debt). It represents capital invested in day-to-day... ...read more

working capital operational liquidity current assets current liabilities

Non-GAAP Metrics

Fundamental

Adjusted figures excluding certain items; compare cautiously

Non-GAAP metrics adjust standard accounting figures to exclude one-time items, stock-based compensation, or other non-recurring expenses. They provide... ...read more

earnings quality adjustments transparency comparability

P/B Ratio (Price-to-Book)

Fundamental

Price per Share / Book Value per Share

P/B compares market price to accounting book value. Ratios below 1 suggest undervaluation (potential value traps). Useful for financial and asset-heav... ...read more

valuation book value asset valuation value investing

P/E Ratio (Price-to-Earnings)

Fundamental

Price per Share / EPS; trailing or forward

P/E ratio measures how much investors pay per dollar of earnings. Trailing P/E uses past earnings, forward P/E uses estimates. Higher ratios suggest g... ...read more

valuation earnings multiple growth expectations relative valuation

PEG Ratio

Fundamental

(P/E) / EPS Growth Rate

PEG ratio adjusts P/E for growth expectations. Formula: (Price/Earnings) / Expected EPS Growth Rate. Ratios below 1 may indicate undervaluation relati... ...read more

valuation growth adjustment p/e ratio growth stocks

Preferred Stock

Fundamental

Equity with priority dividends and liquidation preference; often no voting rights

Preferred stock pays fixed dividends before common stock and has priority in liquidation. It combines equity features (no maturity) with debt-like cha... ...read more

hybrid security fixed dividends priority claims no voting rights

Prospectus

Fundamental

Regulatory document detailing risks, financials, use of proceeds

Prospectus provides comprehensive information about securities offerings, including company background, financials, risk factors, and use of proceeds.... ...read more

securities regulation disclosure risk factors due diligence

Relative Return

Fundamental

Return vs benchmark

Relative return measures performance compared to a benchmark index. Formula: (Portfolio Return - Benchmark Return). Positive relative return indicates... ...read more

performance measurement benchmark comparison alpha active management

Return on Assets (ROA)

Fundamental

Net Income / Average Total Assets

ROA measures how efficiently assets generate profits. Formula: Net Income / Average Total Assets. Higher ROA indicates better asset utilization. Usefu... ...read more

profitability asset efficiency return measurement comparability

Return on Equity (ROE)

Fundamental

Net Income / Average Shareholders' Equity

ROE measures shareholder return on investment. Formula: Net Income / Average Shareholders' Equity. DuPont analysis decomposes ROE into margin, turnove... ...read more

shareholder returns profitability dupont analysis leverage

Stock

Fundamental

Ownership stake in a company; common vs preferred

Stock represents ownership in a corporation. Common stock provides voting rights and potential dividends. Preferred stock offers priority claims but u... ...read more

ownership equity voting rights capital structure

Terminal Value

Fundamental

DCF residual value beyond explicit forecast; Gordon growth or exit multiple

Terminal value estimates the value of a business beyond the explicit forecast period. Methods include Gordon Growth Model (perpetuity) or exit multipl... ...read more

dcf analysis long-term value perpetuity exit valuation

Top-Down vs Bottom-Up

Fundamental

Macro first vs company fundamentals first investing

Top-down investing starts with macroeconomic analysis, then selects sectors/countries, finally individual companies. Bottom-up focuses on individual c... ...read more

investment approach macro analysis company analysis sector selection

Total Return

Fundamental

Price appreciation + dividends/coupons

Total return measures complete investment performance including both capital appreciation and income. Formula: (Ending Value + Distributions - Beginni... ...read more

performance measurement capital gains income comprehensive return

Trailing Twelve Months (TTM)

Fundamental

Last 12 months' financials

TTM uses the most recent 12 months of financial data rather than fiscal year results. Provides current view of company performance, especially useful... ...read more

financial reporting current data seasonal adjustment performance view

Treasury Bills/Notes/Bonds

Fundamental

US government debt of short/intermediate/long maturities

US Treasuries are government debt securities: Bills (<1 year), Notes (1-10 years), Bonds (10-30 years). Considered risk-free benchmark for pricing oth... ...read more

government debt risk-free asset benchmark yield curve

WACC (Weighted Average Cost of Capital)

Fundamental

= E/(D+E)*Cost of Equity + D/(D+E)*Cost of Debt*(1−Tax)

WACC represents the blended cost of equity and debt capital, weighted by capital structure. Used as discount rate in DCF analysis. Formula accounts fo... ...read more

cost of capital discount rate capital structure dcf analysis

Wash Sale Rule

Fundamental

Disallows tax loss if you repurchase substantially identical security within 30 days

Wash sale rule prevents claiming tax losses on sales followed by repurchasing substantially identical securities within 30 days. Designed to prevent a... ...read more

tax rules loss harvesting tax planning irs regulations

Working Capital

Fundamental

Current assets minus current liabilities

Working capital measures short-term liquidity. Formula: Current Assets - Current Liabilities. Positive working capital indicates ability to meet short... ...read more

liquidity short-term assets current liabilities operational funding

Yield to Maturity (YTM)

Fundamental

IRR of a bond's cash flows assuming held to maturity

YTM is the internal rate of return of a bond's cash flows if held to maturity. It considers coupon payments and principal repayment. Formula requires... ...read more

bond valuation internal rate of return required yield discount rate

YoY (Year over Year)

Fundamental

Growth comparing current period to same period last year

YoY growth measures change from the same period in the previous year. Formula: (Current Period - Same Period Last Year) / Same Period Last Year. Remov... ...read more

growth measurement seasonal adjustment trend analysis comparability