金融chappt課件-閱讀頁(yè)
2025-05-22 03:57本頁(yè)面
【正文】 terest payable Investment ratios(投資比率 ) Dividend per share(每股股利 ) Dividend payout ratio（ 股利支付率） Dividend yield ratio（ 股票獲利率） Earnings per share(每股收益 EPS) Operating cash flow per share（ 每股現(xiàn)金流量） Price/earnings ratio(市盈率 P/E) Financial ratios and the problem of overtrading 財(cái)務(wù)比率與過(guò)度經(jīng)營(yíng)問(wèn)題 ? Definition: overtrading means a business is operating at a level of activity which can’t be supported by the amount of finance. ? Reason: expanding in scale。 managers’failing to control project costs。 other stakeholders are unwilling to invest in the business. ? Results/effect: overtrading results in the liquidity problems such as exceeding borrowing limits,slow repayment of lenders and creditors。resulting in being unable to meet customer needs and lost the market shares,unable to pay for employee。 changing prices is to distort the measurement of profit. The restricted vision of ratios Financial analysis can’t rely on ratios only,it can not provide the absolute size of profits as well as the relative profitability of each business. The basis for parison Ratios analysis requires a basis for parison. More difference between the businesses being pared ,the greater the limitations of ratio analysis. Balance sheet ratios Balance sheet ratios are only “snapshot”of the business at a particular moment in time,they may not be representative of the financial position of the business for the year as a whole.
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