EV/GCI

EV/GCI (enterprise value/gross cash invested) is an advanced valuation multiple used to compare a company's book value of its assets to their current market value. The ratio is similar to P/B ratio, but EV/GCI is calculated on an EV-basis, taking into account all the company's security-holders.[1]

Formula

GCI (Gross cash invested) = Gross tangible and intangible assets before depreciation or write-offs + investments in associates + working capital[2]

When EV/GCI is higher than 1, then the market is willing to pay a valuation premium. A discount takes place in the opposite case.

gollark: Hmm. Evidently we need a shiny new data structure with more funlolz.
gollark: In an actual language you would have `do` and `apply-adjective` and such be one syllable.
gollark: In that form it's basically just a tree written differently, but you could do `dup` and `rot` and `swp` and whatever instead of spoken languages' `this` and `that` backrefs.
gollark: (with shorter words, practically speaking)
gollark: Most languages work as trees, but you could reformat something like `cyan apioforms rotate perpendicularly` as `apioform plural cyan apply-adjective rotate perpendicular apply-adverb do`.

References
  1. "Introducing GS Sustain". Retrieved 29 October 2015.
  2. Workshop V: Relative Valuation
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