存貨周轉(zhuǎn)率ppt課件(已修改)
2025-05-10 23:53 本頁面
【正文】 31CHAPTER 3Analysis of Financial StatementsnRatio AnalysisnDu Pont systemnEffects of improving ratiosnLimitations of ratio analysisnQualitative factors32Why are ratios useful?n Financial ratios are designed to help one evaluate a financial statement.n Ratios standardize numbers and facilitate parisons.n Ratios are used to highlight weaknesses and strengths.33What are the five major categories of ratios, and what questions do they answer?n Liquidity: Can we make required payments?n Asset management: right amount of assets vs. sales?n Debt management: Right mix of debt and equity?n Profitability: Do sales prices exceed unit costs, and are sales high enough as reflected in PM, ROE, and ROA?n Market value: Do investors like what they see as reflected in P/E and M/B ratios?34Liquidity Ratio.Current ratio = Current assets / Current liabilities= $ 1,000/ $ 310= x Industry average= x35Comments on current ratio2022 2022 2022 Ind.Currentratio n Expected to improve but still below the industry average.n Liquidity position is weak.36Asset Management Ratiosn Inventory turnover ratio (存貨週轉(zhuǎn)率 )n DSO=Days Sales Outstanding (銷售流通天數(shù) )n FA turnover (固定資產(chǎn)周轉(zhuǎn)率 )n TA turnover (總資產(chǎn)週轉(zhuǎn)率 )37Asset Management Ratios2022 2022 2022 Ind.InventoryTurnover Inventory turnover ratio = Sales / Inventories= $3,000 / $615= Industry average=38Comments on Inventory Turnovern Inventory turnover is below industry average.n This firm might have old inventory, or its control might be poor.n It holds too much inventoryn Excess inventory means unproductive, and it presents an investment with a low or zero rate of returnn No improvement is currently forecasted.39DSO is the average number of days after making a sale before receiving cash.DSO =Days Sales Outstanding (銷售流通天數(shù) ) =Average Collection Period (平均收現(xiàn)期間 ) = Receivables / Average sales per day = 應(yīng)收帳款 /平均每日銷售額 = Rec
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