NO.PZ2018111303000087
问题如下:
If a company's net profit margin and asset tunrnover are increasing, but the leverage and ROE are decreasing.
Based on the Dupont analysis, analyst believes the firm could increase the ROE without operational changes. So the improvement of ROE is most likely based on:
选项:
A.
financial leverage
B.
net profit margin
C.
asset turnover
解释:
A is correct
考点:ROE
解析:
如果公司的盈利能力和周转率是上升的,而ROE是下降的,说明leverage的下降抵消了盈利能力和周转率的上升。在保持operational不变的情况下,即盈利能力和周转率不变的情况下,想要提高ROE,就只能提高杠杠率。
题目的前提不是已经leverage和ROE都下降了吗? 为什么选leverage上升呢,难道不是撇开这个因子再分析其他的ROE拆分吗