COLORFUL · 2021年07月05日
NO.PZ2016091001000011
问题如下：
Assume that CC Inc. has $360,000 operating income in the early stages, and the operating income has changed as $420,000 later. The financial cost is $120,000. So the CC Inc.'s degree of financial leverage(DFL) is closest to :
选项：
A.1.3.
B.1.8.
C.1.5.
解释：
C is correct.
The operating income percentage change==16.67%
The net income percentage change==25%
DFL ==1.5
想问一下这道题为什么要用early stage的36而不是48
王琛_品职助教 · 2021年07月07日
嗨，爱思考的PZer你好：
就是如果直接用化简的式子，不是直接用36/(36-12)嘛，这里为什么要用36而不是48
因为公式推导的结果中，EBIT 是变化前的值。对应到题干的数据，就是变化前的 36，而不是变化后的 42 哈
推导过程，请参考：https://class.pzacademy.com/qa/57328
----------------------------------------------就算太阳没有迎着我们而来，我们正在朝着它而去，加油！
NO.PZ2016091001000011问题如下 Assume thInh$360,000 operating income in the early stages, anthe operating income hchange$420,000 later. The financicost is $120,000. So the Inc.'s gree of financileverage(L) is closest to :A.1.3.B.1.8.C.1.5. C is correct.The operating income percentage change=$420,000−$360,000$360,000\frac{\$420,000-\$360,000}{\$360,000}$360,000$420,000−$360,000=16.67%The net income percentage change=($420,000−$120,000)−($360,000−$120,000)$360,000−$120,000\frac{\left(\$420,000-\$120,000\right)-\left(\$360,000-\$120,000\right)}{\$360,000-\$120,000}$360,000−$120,000($420,000−$120,000)−($360,000−$120,000)=25%L =The net income percentage changeThe operating income percentage change=25%16.67%\frac{The\;net\;income\;percentage\;change}{The\;operating\;income\;percentage\;change}=\frac{25\%}{16.67\%}TheoperatingincomepercentagechangeThenetincomepercentagechange=16.67%25%=1.5 没看懂具体啥意思，能不能具体讲一下
NO.PZ2016091001000011 问题如下 Assume thInh$360,000 operating income in the early stages, anthe operating income hchange$420,000 later. The financicost is $120,000. So the Inc.'s gree of financileverage(L) is closest to : A.1.3. B.1.8. C.1.5. C is correct.The operating income percentage change=$420,000−$360,000$360,000\frac{\$420,000-\$360,000}{\$360,000}$360,000$420,000−$360,000=16.67%The net income percentage change=($420,000−$120,000)−($360,000−$120,000)$360,000−$120,000\frac{\left(\$420,000-\$120,000\right)-\left(\$360,000-\$120,000\right)}{\$360,000-\$120,000}$360,000−$120,000($420,000−$120,000)−($360,000−$120,000)=25%L =The net income percentage changeThe operating income percentage change=25%16.67%\frac{The\;net\;income\;percentage\;change}{The\;operating\;income\;percentage\;change}=\frac{25\%}{16.67\%}TheoperatingincomepercentagechangeThenetincomepercentagechange=16.67%25%=1.5 请问老师，如果用36万/(36万 -12万）=1.5，为什么不可以用42万/（42万-12万）？这里有点不太明白了。谢谢老师！
NO.PZ2016091001000011问题如下 Assume thInh$360,000 operating income in the early stages, anthe operating income hchange$420,000 later. The financicost is $120,000. So the Inc.'s gree of financileverage(L) is closest to :A.1.3.B.1.8.C.1.5. C is correct.The operating income percentage change=$420,000−$360,000$360,000\frac{\$420,000-\$360,000}{\$360,000}$360,000$420,000−$360,000=16.67%The net income percentage change=($420,000−$120,000)−($360,000−$120,000)$360,000−$120,000\frac{\left(\$420,000-\$120,000\right)-\left(\$360,000-\$120,000\right)}{\$360,000-\$120,000}$360,000−$120,000($420,000−$120,000)−($360,000−$120,000)=25%L =The net income percentage changeThe operating income percentage change=25%16.67%\frac{The\;net\;income\;percentage\;change}{The\;operating\;income\;percentage\;change}=\frac{25\%}{16.67\%}TheoperatingincomepercentagechangeThenetincomepercentagechange=16.67%25%=1.5 net income percentage change這邊的分母不太理解
NO.PZ2016091001000011 能否让老师详细讲解一下这题？ L = [Q(P - V- FC]/[Q(P - V- FC - INT] 怎么得到答案的公式？
