Normal Goods
A normal good is a product or service for which demand rises when consumers’ incomes rise and falls when incomes decline. The label “normal”…
Net Operating Profit Less Adjusted Taxes Noplat
NOPLAT (Net Operating Profit Less Adjusted Taxes) is a measure of a company’s operating profit after taxes, adjusted to remove the effects of a…
Net Operating Profit After Tax
NOPAT is a measure of a company’s operating profitability after taxes, but before financing effects (interest) and non‑operating gains/losses. It represents how much profit…
No Par Value Stock
No-par value stock is common or preferred stock issued without a legally stated “par value” printed on the certificate or specified in the corporate…
Non Marginable Securities
Key takeaways – Non‑marginable securities cannot be used as collateral in a brokerage margin account and must be bought with cash. – Brokerages maintain…
Non Conforming Mortgage
A non‑conforming mortgage is any home loan that does not meet the purchase and underwriting guidelines of the government‑sponsored enterprises (GSEs) Fannie Mae and…
Non Taxable Distribution
• A “non‑taxable distribution” (also called a non‑dividend distribution or return of capital) is a payment to shareholders that represents a return of part…
Nonresident Alien
Below is a comprehensive, practical guide that explains the rules, shows how to determine your status, lists the common tax consequences, and gives step‑by‑step…
Non Renounceable Rights
Key takeaways – A non‑renounceable rights issue gives existing shareholders the right to buy newly issued shares at a specified price for a limited…
Normal Yield Curve
• A “normal” (or positive) yield curve slopes upward: short-term interest rates are lower than long-term rates for securities of the same credit quality.…