Liquidity Ratios I-III
Measures the extent to which a company can quickly liquidate assets to cover short-term liabilities.
Liquidity I: ((sum of cash + short-term financial assets) / current liabilities) x 100.
Liquidity II: ((sum of cash + short-term financial assets + accounts receivable) / current liabilities) x 100. Liquidity III: ((sum of cash + short-term financial assets + accounts receivable + inventories) / current liabilities) x 100.
Market Capitalization
The total market value of all outstanding shares. It is calculated by multiplying the number of outstanding shares by the current market price.
Market Risk Premium
The extra return that the overall market or a particular stock must provide over the risk-free rate to compensate an investor for taking a relatively higher risk.
Market risk premium = market risk – risk-free rate.
Marketing Working Budget
Promotion and communication spending including sponsorship contracts with teams and individual athletes, as well as advertising, retail support, events and other communication activities, but excluding marketing overhead expenses.
Metalwoods
Golf clubs (drivers and fairway woods) which are constructed from steel and/or titanium alloys. The name also pays homage to persimmon wood, which was originally used in the creation of these products. This is the largest golf product category in terms of sales.
Minority Interests
Part of net income which is not attributable to the reporting company. Outside ownership interests in subsidiaries that are consolidated with the parent company for financial reporting purposes.
Modular Football Boot
This football boot concept allows players to customize, adapt and tune their boots to any weather, any pitch and their very own personal style.
Movable Weight Technology™ (MWT™)
Allows the golfer to adjust the center of gravity in the clubhead by moving two weight cartridges. This promotes changes to the shot’s direction, height and distance.
Natural Hedges
An offset of currency risks that occurs naturally as a result of a company’s normal operations, without the use of derivatives. For example, revenue received in a foreign currency and used to pay known commitments in the same foreign currency.
