从FFO到AFFO的计算公式有没有什么好点的记忆方法？-有问必答-品职教育专注CFA ESG FRM CPA 考研等财经培训课程

从FFO到AFFO的计算公式有没有什么好点的记忆方法？

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NO.PZ202301100100000204

问题如下：

Based on Exhibit 1, Bay’s P/FFO is closest to:

选项：

14.3x

13.0x.

20.7x.

解释：

B is correct. FFO = AFFO + Non-cash (straight-line) rent + Recurring maintenance–type capital expenditures and leasing commissions = $4,000,000 + $215,000 + $700,000 = $4,915,000.

The number of shares outstanding = 4,000,000/5.00 = 800,000. FFO per share = 4,915,000/800,000 = $6.14.

Current stock price = $80.00 per share P/FFO = $80.00/$6.14 = 13.0x

A is incorrect because 14.3x is incorrectly calculated as follows: $4,000,000 – $215,000 + $700,000 = $4,485,000. The number of shares outstanding = 4,000,000/5.00 = 800,000. FFO per share = 4,485,000/800,000 = $5.61. Current stock price = $80.00 per share P/FFO = $80.00/$5.61 = 14.3x

C is incorrect because 20.7x is incorrectly calculated as follows: $4,000,000 – $215,000 – $700,000 = $3,085,000. The number of shares outstanding = 4,000,000/5.00 = 800,000. FFO per share = 3,085,000/800,000 = $3.86. Current stock price = $80.00 per share P/FFO = $80.00/$3.86 = 20.7x

如题

嗨，爱思考的PZer你好：

1.根据FFO的定义推导AFFO公式

FFO是指不考虑房地产投资信托(REIT) 的一些非现金收益和支出因素而计算的现金净收益。AFFO则是考虑了这些因素后的净现金收益。因此，我们可以根据FFO公式推导AFFO公式:

AFFO =FFO-维护性资本支出- 营运性资本支出 +摊销

其中，维护性资本支出是指为维持现有资产价值而进行的资本支出，营运生资本支出是指为维持营业活动而进行的资本支出，摊销是指资产的折旧和摊销。这样，我们就可以根据EEO公式记忆AFFO公式

2.利用记忆口诀

可以利用以下口诀来记忆计算公式

AFFO减费用，加摊销

这个口诀的意思是，AFFO计算时需要减去费用(指维护性资本支出和营运性资本支出)，然后再加上摊销。这样，我们就可以轻松记忆AFFO的计算公式

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从FFO到AFFO的计算公式有没有什么好点的记忆方法？

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