lecture45m17-ratioanalysisandcontinentalre-資料下載頁
2025-01-11 08:32本頁面
【正文】 y dividend payout % Calculations 20X4 = 286,454 x 100% = % 863,957 20X5 = 343,745 x 100% = % 1,179,669 Ordinary dividend payout % Comments ? In 20X5 the pany paid out % of its profits to ordinary shareholders ? The remaining % is retained to fund the future growth of the pany ? Retained profit is the best / cheapest way to raise funds for long term growth Dividend per share (pence) Formula Dividends (equity) Number of shares in issue Dividend per share (pence) Calculations 20X4 = 286,454 = 163。 = p 9,548,470 20X5 = 343,745 = 163。 = p 9,548,470 Dividend per share (pence) Comments ? In 20X5 for each share owned, a shareholder will receive a dividend of pence. ? Slight increase on 20X4 Dividend yield (%) Formula Dividend per share (equity) x 100 Market value per share Dividend yield (%) Calculations 20X4 = x 100 = % 20X5 = x 100 = % Dividend yield (%) Comments ? In 20X5 for each share owned, a shareholder received a dividend that represents a return of % when pared with the market value of one share ? Although the dividend per share has increased, dividend yield has fallen slightly since 20X4 Earnings per share Formula Profit attributable to ordinary shareholders Number of ordinary shares in issue Earnings per share Calculations 20X4 = 163。863,957 = 163。 = pence 9,548,470 20X5 = 163。1,179,669 = 163。 = pence 9,548,470 Earnings per share Comments ? Indicates profit each share has earned during the year ? In 20X5 each share earned a profit of pence (ie: maximum dividend) ? Investors look for steady growth in EPS over a number of years Price Earnings Ratio Formula = Market Price per share (pence) Earnings per Share Price Earnings Ratio Calculations 20X4 = = times 20X5 = = times Price Earnings Ratio Comments ? Indicates number of years of profits that each share costs ? In 20X5 it would take years of profit to pay back the market price of one share ? Compare with other panies in same industry Summary ? Calculation of a few key ratios has greatly enhanced our understanding of the performance of the business ? Significant improvement in gross profit margin was wiped out by an increase in employee costs ? Improving Gross profit margin and ROCE will please investors ? No liquidity problems ? Investor ratios moving in right direction ? Ratios for petitors / sector averages would be useful Reading ? Petersen and Plenb (2023) – Chapters 78 ? Atrill and McLaney (2023) – Chapters 78 ? Melville (2023) – Chapter 22 演講完畢，謝謝觀看！
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