NO.PZ2018111303000086
问题如下:
Analyst collected the financial information about PZ company in the following table:
Based on the Dupont analysis, PZ’s ROE is best described as:
选项:
A.trending higher
B.trending lower
C.stable
解释:
B is correct.
考点: ROE
解析:
我们可以用杜邦三分法来计算ROE,公式是ROE=(net profit margin) × (asset turnover) × (financial leverage)
2016:ROE=(1295/27265)*0.49*2.98=0.069
2017:ROE=(2071/45882)*0.52*2.86=0.067
2018:ROE=(1818/56455)*0.56*2.55=0.046
可以看出来从16年到18年,ROE是下降的趋势。
但是financial leverage不是 debt / equity吗?这个部分怎么理解呀?