REFS is
a mine of invaluable information for the private investor.
Selecting shares without its help is like trying to
clap with one hand tied behind your back.
|
|
 |
Gross
gearing
Gross gearing
is calculated by dividing total gross borrowings by shareholders’
funds, and expressing the result as a percentage.
Cash and
other near-cash assets are not deducted from gross borrowings,
but their significance can be separately assessed by reference
to the cash percentage shown immediately above.
Calculation:
TOTAL BORROWINGS
------------------------
X 100 = GROSS GEARING (%)
SHAREHOLDERS’
FUNDS
Separate
figures are calculated to show gross gearing both before and
after deducting intangibles from shareholders’ funds.
|
|
|
