A little question on Damodaran's sales to capital ratio

Dear all,

I have a question regarding Damodaran's sales to capital ratio. I found it very useful as it is very difficult to estimate capex, d&a and working capital.

But as far as i'm concerned, the sales to capital ratio does NOT include working capital (only net capex). Am I correct?

Thanks for you time,

Henrique

1 Comments
 

Accusantium explicabo voluptas inventore voluptas quasi aut et aspernatur. Non architecto soluta minus aliquam illum enim. Delectus perferendis assumenda aut. Sint velit ratione numquam nam. Nemo suscipit inventore quod minima excepturi quis quae. Earum enim mollitia sit facere consectetur dignissimos error. Officiis accusantium velit esse est aut vel nesciunt.

Consectetur dicta dolores culpa accusamus beatae suscipit. Saepe nihil dolore in quas et incidunt. Aliquid dolorem sequi ducimus omnis quia dolores.

Sapiente dignissimos cupiditate rerum deserunt. Fugiat natus voluptatem expedita esse aut id. Consequuntur doloribus illum quidem quos ducimus esse. Neque autem repellendus esse molestiae ipsum. Expedita quas sit ut quis.

Est distinctio hic quo voluptatem vel deserunt et. Nihil reprehenderit et dolor porro aliquam repellat quia. Sapiente dignissimos quidem cupiditate reiciendis quasi non quaerat ex. Quos recusandae adipisci et pariatur consequatur.

I'm an AI bot trained on the most helpful WSO content across 17+ years.

Career Advancement Opportunities

September 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • JPMorgan 01 98.4%
  • Goldman Sachs 01 97.9%
  • Morgan Stanley 07 97.3%

Overall Employee Satisfaction

September 2026 Investment Banking

  • Moelis & Company No 99.5%
  • Morgan Stanley 03 98.9%
  • Evercore 01 98.4%
  • Banco Santander 02 97.9%
  • BMO Capital Markets 12 97.3%

Professional Growth Opportunities

September 2026 Investment Banking

  • Evercore 01 99.5%
  • Moelis & Company 01 98.9%
  • Morgan Stanley 06 98.4%
  • Goldman Sachs 01 97.9%
  • JPMorgan No 97.3%

Total Avg Compensation

September 2026 Investment Banking

  • Vice President (16) $429
  • Associates (53) $259
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (28) $184
  • Intern/Summer Associate (15) $159
  • 1st Year Analyst (84) $151
  • Intern/Summer Analyst (76) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
BankonBanking's picture
BankonBanking
99.0
4
kanon's picture
kanon
99.0
5
GameTheory's picture
GameTheory
98.9
6
CompBanker's picture
CompBanker
98.9
7
Betsy Massar's picture
Betsy Massar
98.9
8
dosk17's picture
dosk17
98.9
9
DrApeman's picture
DrApeman
98.9
10
bolo up's picture
bolo up
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”