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灰飞翔的猫 · 2025年01月18日

operating leverage

NO.PZ2023112701000061

问题如下:

The cost of debt and equity is likely to be higher for a firm with

选项:

A.stable revenue growth.

B.high operating leverage.

C.high interest coverage.

解释:

Correct Answer: B

B is correct. Operating leverage is the firm’s proportion of fixed costs to total costs and measures the stability of profits. Firms with high operating leverage experience a greater change in operating profits for a given change in revenues. Thus, firms with high operating margins are riskier and likely to have higher debt and equity costs.

A and C are incorrect. Stable revenue growth and high interest coverage suggest a lower risk profile for the firm and a lower cost of debt and equity. A high interest coverage ratio indicates the firm has lower financial leverage and less risk.

如题,这个比率是怎么算的?

0 个答案