存貨周轉(zhuǎn)率ppt課件-文庫吧資料
2025-05-04 23:53本頁面
【正文】 ems with ROEn ROE and shareholder wealth are correlated, but problems can arise when ROE is the sole measure of performance.n ROE does not consider risk.n ROE does not consider the amount of capital invested.n Might encourage managers to make investment decisions that do not benefit shareholders.n ROE focuses only on return. A better measure is one that considers both risk and return.327Market Value Ratiosn Price/Earnings (PE ratio。基本獲利率 )n Return on Total Assets (ROA。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 averag
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