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| 1 | <?php |
| 2 | /** |
| 3 | * Jingga |
| 4 | * |
| 5 | * PHP Version 8.1 |
| 6 | * |
| 7 | * @package phpOMS\Business\Finance |
| 8 | * @copyright Dennis Eichhorn |
| 9 | * @license OMS License 2.0 |
| 10 | * @version 1.0.0 |
| 11 | * @link https://jingga.app |
| 12 | */ |
| 13 | declare(strict_types=1); |
| 14 | |
| 15 | namespace phpOMS\Business\Finance; |
| 16 | |
| 17 | /** |
| 18 | * Finance class. |
| 19 | * |
| 20 | * @package phpOMS\Business\Finance |
| 21 | * @license OMS License 2.0 |
| 22 | * @link https://jingga.app |
| 23 | * @since 1.0.0 |
| 24 | * |
| 25 | * @SuppressWarnings(PHPMD.CamelCaseParameterName) |
| 26 | * @SuppressWarnings(PHPMD.CamelCaseVariableName) |
| 27 | */ |
| 28 | final class StockBonds |
| 29 | { |
| 30 | /** |
| 31 | * Constructor |
| 32 | * |
| 33 | * @since 1.0.0 |
| 34 | * @codeCoverageIgnore |
| 35 | */ |
| 36 | private function __construct() |
| 37 | { |
| 38 | } |
| 39 | |
| 40 | /** |
| 41 | * Bond Equivalent Yield |
| 42 | * |
| 43 | * @param float $fv Face value |
| 44 | * @param float $price Price |
| 45 | * @param int $days Days to maturity |
| 46 | * |
| 47 | * @return float |
| 48 | * |
| 49 | * @since 1.0.0 |
| 50 | */ |
| 51 | public static function getBondEquivalentYield(float $fv, float $price, int $days) : float |
| 52 | { |
| 53 | return ($fv - $price) / $price * 365 / $days; |
| 54 | } |
| 55 | |
| 56 | /** |
| 57 | * Book Value per Share |
| 58 | * |
| 59 | * @param float $total Total common stockholder's Equity |
| 60 | * @param int $common Number of common shares |
| 61 | * |
| 62 | * @return float |
| 63 | * |
| 64 | * @since 1.0.0 |
| 65 | */ |
| 66 | public static function getBookValuePerShare(float $total, int $common) : float |
| 67 | { |
| 68 | return $total / $common; |
| 69 | } |
| 70 | |
| 71 | /** |
| 72 | * Capital Asset Pricing Model (CAPM) |
| 73 | * |
| 74 | * @param float $rf Risk free rate |
| 75 | * @param float $beta Risk to invest in a stock relative to the risk of the market |
| 76 | * @param float $r Return on the market |
| 77 | * |
| 78 | * @return float |
| 79 | * |
| 80 | * @since 1.0.0 |
| 81 | */ |
| 82 | public static function getExpectedReturnCAPM(float $rf, float $beta, float $r) : float |
| 83 | { |
| 84 | return $rf + $beta * ($r - $rf); |
| 85 | } |
| 86 | |
| 87 | /** |
| 88 | * Capital Gains Yield |
| 89 | * |
| 90 | * @param float $P0 Old stock price |
| 91 | * @param float $P1 New stock price |
| 92 | * |
| 93 | * @return float |
| 94 | * |
| 95 | * @since 1.0.0 |
| 96 | */ |
| 97 | public static function getCapitalGainsYield(float $P0, float $P1) : float |
| 98 | { |
| 99 | return $P1 / $P0 - 1; |
| 100 | } |
| 101 | |
| 102 | /** |
| 103 | * Current Yield |
| 104 | * |
| 105 | * @param float $coupons Annual coupons |
| 106 | * @param float $price Current bond price |
| 107 | * |
| 108 | * @return float |
| 109 | * |
| 110 | * @since 1.0.0 |
| 111 | */ |
| 112 | public static function getCurrentYield(float $coupons, float $price) : float |
| 113 | { |
| 114 | return $coupons / $price; |
| 115 | } |
| 116 | |
| 117 | /** |
| 118 | * Diluted Earnings per Share |
| 119 | * |
| 120 | * @param float $income Net Income |
| 121 | * @param float $avg Avg. shares |
| 122 | * @param float $other Other convertible instruments |
| 123 | * |
| 124 | * @return float |
| 125 | * |
| 126 | * @since 1.0.0 |
| 127 | */ |
| 128 | public static function getDilutedEarningsPerShare(float $income, float $avg, float $other) : float |
| 129 | { |
| 130 | return $income / ($avg + $other); |
| 131 | } |
| 132 | |
| 133 | /** |
| 134 | * Dividend Payout Ratio |
| 135 | * |
| 136 | * @param float $dividends Dividends |
| 137 | * @param float $income Net income |
| 138 | * |
| 139 | * @return float |
| 140 | * |
| 141 | * @since 1.0.0 |
| 142 | */ |
| 143 | public static function getDividendPayoutRatio(float $dividends, float $income) : float |
| 144 | { |
| 145 | return $dividends / $income; |
| 146 | } |
| 147 | |
| 148 | /** |
| 149 | * Dividend Yield |
| 150 | * |
| 151 | * @param float $dividends Dividends |
| 152 | * @param float $price Initial price for the period |
| 153 | * |
| 154 | * @return float |
| 155 | * |
| 156 | * @since 1.0.0 |
| 157 | */ |
| 158 | public static function getDividendYield(float $dividends, float $price) : float |
| 159 | { |
| 160 | return $dividends / $price; |
| 161 | } |
| 162 | |
| 163 | /** |
| 164 | * Dividend Yield |
| 165 | * |
| 166 | * @param float $dividends Dividends |
| 167 | * @param int $shares Initial price for the period |
| 168 | * |
| 169 | * @return float |
| 170 | * |
| 171 | * @since 1.0.0 |
| 172 | */ |
| 173 | public static function getDividendsPerShare(float $dividends, int $shares) : float |
| 174 | { |
| 175 | return $dividends / $shares; |
| 176 | } |
| 177 | |
| 178 | /** |
| 179 | * Earnings Per Share |
| 180 | * |
| 181 | * @param float $income Net income |
| 182 | * @param float $shares Weighted avg. outstanding shares |
| 183 | * |
| 184 | * @return float |
| 185 | * |
| 186 | * @since 1.0.0 |
| 187 | */ |
| 188 | public static function getEarningsPerShare(float $income, float $shares) : float |
| 189 | { |
| 190 | return $income / $shares; |
| 191 | } |
| 192 | |
| 193 | /** |
| 194 | * Equity Multiplier |
| 195 | * |
| 196 | * @param float $assets Total assets |
| 197 | * @param float $equity Stockholder's equity |
| 198 | * |
| 199 | * @return float |
| 200 | * |
| 201 | * @since 1.0.0 |
| 202 | */ |
| 203 | public static function getEquityMultiplier(float $assets, float $equity) : float |
| 204 | { |
| 205 | return $assets / $equity; |
| 206 | } |
| 207 | |
| 208 | /** |
| 209 | * Holding Period Return |
| 210 | * |
| 211 | * @param array<int|float> $r Rate of return |
| 212 | * |
| 213 | * @return float |
| 214 | * |
| 215 | * @since 1.0.0 |
| 216 | */ |
| 217 | public static function getHoldingPeriodReturn(array $r) : float |
| 218 | { |
| 219 | $hpr = 1.0; |
| 220 | |
| 221 | foreach ($r as $value) { |
| 222 | $hpr *= 1 + $value; |
| 223 | } |
| 224 | |
| 225 | return $hpr - 1; |
| 226 | } |
| 227 | |
| 228 | /** |
| 229 | * Net Asset Value |
| 230 | * |
| 231 | * @param float $assets Fund assets |
| 232 | * @param float $liabilities Fund liabilities |
| 233 | * @param int $shares Outstanding shares |
| 234 | * |
| 235 | * @return float |
| 236 | * |
| 237 | * @since 1.0.0 |
| 238 | */ |
| 239 | public static function getNetAssetValue(float $assets, float $liabilities, int $shares) : float |
| 240 | { |
| 241 | return ($assets - $liabilities) / $shares; |
| 242 | } |
| 243 | |
| 244 | /** |
| 245 | * Price to Book Value |
| 246 | * |
| 247 | * @param float $market Market price per share |
| 248 | * @param float $book Book value per share |
| 249 | * |
| 250 | * @return float |
| 251 | * |
| 252 | * @since 1.0.0 |
| 253 | */ |
| 254 | public static function getPriceToBookValue(float $market, float $book) : float |
| 255 | { |
| 256 | return $market / $book; |
| 257 | } |
| 258 | |
| 259 | /** |
| 260 | * Price to Earnings (P/E Ratio) |
| 261 | * |
| 262 | * @param float $price Price per share |
| 263 | * @param float $earnings Earnings per share |
| 264 | * |
| 265 | * @return float |
| 266 | * |
| 267 | * @since 1.0.0 |
| 268 | */ |
| 269 | public static function getPriceEarningsRatio(float $price, float $earnings) : float |
| 270 | { |
| 271 | return $price / $earnings; |
| 272 | } |
| 273 | |
| 274 | /** |
| 275 | * Price to Sales (P/S Ratio) |
| 276 | * |
| 277 | * @param float $price Price per share |
| 278 | * @param float $sales Sales per share |
| 279 | * |
| 280 | * @return float |
| 281 | * |
| 282 | * @since 1.0.0 |
| 283 | */ |
| 284 | public static function getPriceToSalesRatio(float $price, float $sales) : float |
| 285 | { |
| 286 | return $price / $sales; |
| 287 | } |
| 288 | |
| 289 | /** |
| 290 | * Stock - PV with Constant Growth |
| 291 | * |
| 292 | * @param float $dividend Estimated dividends for next period |
| 293 | * @param float $r Required rate of return |
| 294 | * @param float $g Growth rate |
| 295 | * |
| 296 | * @return float |
| 297 | * |
| 298 | * @since 1.0.0 |
| 299 | */ |
| 300 | public static function getPresentValueOfStockConstantGrowth(float $dividend, float $r, float $g = 0.0) : float |
| 301 | { |
| 302 | return $dividend / ($r - $g); |
| 303 | } |
| 304 | |
| 305 | /** |
| 306 | * Tax Equivalent Yield |
| 307 | * |
| 308 | * @param float $free Tax free yield |
| 309 | * @param float $tax Tax rate |
| 310 | * |
| 311 | * @return float |
| 312 | * |
| 313 | * @since 1.0.0 |
| 314 | */ |
| 315 | public static function getTaxEquivalentYield(float $free, float $tax) : float |
| 316 | { |
| 317 | return $free / (1 - $tax); |
| 318 | } |
| 319 | |
| 320 | /** |
| 321 | * Total Stock Return |
| 322 | * |
| 323 | * @param float $P0 Initial stock price |
| 324 | * @param float $P1 Ending stock price |
| 325 | * @param float $D Dividends |
| 326 | * |
| 327 | * @return float |
| 328 | * |
| 329 | * @since 1.0.0 |
| 330 | */ |
| 331 | public static function getTotalStockReturn(float $P0, float $P1, float $D) : float |
| 332 | { |
| 333 | return ($P1 - $P0 + $D) / $P0; |
| 334 | } |
| 335 | |
| 336 | /** |
| 337 | * Yield to Maturity |
| 338 | * |
| 339 | * @param float $C Coupon/interest payment |
| 340 | * @param float $F Face value |
| 341 | * @param float $P Price |
| 342 | * @param int $n Years to maturity |
| 343 | * |
| 344 | * @return float |
| 345 | * |
| 346 | * @since 1.0.0 |
| 347 | */ |
| 348 | public static function getYieldToMaturity(float $C, float $F, float $P, int $n) : float |
| 349 | { |
| 350 | return ($C + ($F - $P) / $n) / (($F + $P) / 2); |
| 351 | } |
| 352 | |
| 353 | /** |
| 354 | * Zero Coupon Bond Value |
| 355 | * |
| 356 | * @param float $F Face value |
| 357 | * @param float $r Rate or yield |
| 358 | * @param int $t Time to maturity |
| 359 | * |
| 360 | * @return float |
| 361 | * |
| 362 | * @since 1.0.0 |
| 363 | */ |
| 364 | public static function getZeroCouponBondValue(float $F, float $r, int $t) : float |
| 365 | { |
| 366 | return $F / \pow(1 + $r, $t); |
| 367 | } |
| 368 | |
| 369 | /** |
| 370 | * Zero Coupon Bond Effective Yield |
| 371 | * |
| 372 | * @param float $F Face value |
| 373 | * @param float $PV Present value |
| 374 | * @param int $n Time to maturity |
| 375 | * |
| 376 | * @return float |
| 377 | * |
| 378 | * @since 1.0.0 |
| 379 | */ |
| 380 | public static function getZeroCouponBondEffectiveYield(float $F, float $PV, int $n) : float |
| 381 | { |
| 382 | return \pow($F / $PV, 1 / $n) - 1; |
| 383 | } |
| 384 | } |