Reported Net Non-Operating Items – NOPAT Adjustment

Non-Op_Fig1

Income statement adjustments include financing items like interest expense/income, preferred dividends and minority interest income. These items are related to the financing of a company’s operations, not the operations themselves. We always calculate NOPAT on an unlevered basis.

Continue Reading →

Danger Zone 2/18/2013: Zale Corporation (ZLC)

Zales_Fig1

Zale Corporation (ZLC) is in the Danger Zone this week.

Continue Reading →