Submitted by: Submitted by qiangwei1314
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Words: 502
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Category: Business and Industry
Date Submitted: 03/01/2014 02:13 AM
Long Term Financial Stability
Gearing (load/shareholders’ equity)
企业债务与资本的比例,比例越高,说明债务负担越重,反之, 债务越轻。
下降:
A very ***reduction in leverage with improved debt servicing capability
上升:
A very ***increase in leverage with regressive debt servicing capability
特殊情况
if loans 非常小于shareholders’ equity, such as , 0.07:1, 0.03:1
先描述上升还是下降,然后the amount of load is comparatively very small to SE, therefore no such risk.
Interest Cover (EBIT/int) 利息保障倍数
Ebit-息税前利润 INT-要支付的利息
该指标越大,偿还利息的能力越强
Ability to service load commitments has been *** 1/reduce –a negative indicator-not a clear danger signal & a clear danger signal. 2/increase- a positive sign of risk
Efficiency/Effectiveness
Turnover of inventory存活周转率
两种算法
turnover/inventory & cost of goods sold/Average inventory
a low ratio-poor sale
a high ratio- strong sale or ineffective buying
存货周转率速度越快,存活的占用水平越低,提高的企业的变现能力,越低是一种消极现象,代表库存商品趋向退化,损坏的风险
特殊情况,如果公司销售的产品是易坏,易腐烂的商品,也会有较高的周转率,这时有可能是无效的销售
下降
declining stock turnover reflects 1/a increasing number of stock,stock control needs to be considered particular if the increased volumes are not maintained。2/lesser sale, the company need to pay more attention to the decline in sales.
上升
Increasing stock turnover indicates 1/a lower level of inventory-a positive signal(原因很多,销售增加或者公司缩减库存)2/strong sale-a positive signal。3/ineffective buying because company sell perishable items.
Turnover of working capital (T/(CA-CL) 资金周转率
一般来说,资金周转率越高,说明资金利用效果越好,反之,表明营运资本使用率过低,但是如果过高表明资金不足,业务清偿债务的能力很低
变动的原因销售收入的变动,或者营运资金的变动(库存或应收账款的变动)
Turnover of fixed assets (T/FA) 固定资产利用率
企业销售收入与固定资产的比率,比率越高,说明利用率高,管理水平好,反之企业资产的利用率低
?%increase/declined in Fixed assets and ?% increase/reduction in sale has resulted these Assets more/less productive
Turnover of capital (T/SE)
收入与shareholders’ equity 的比值,比率越高,说明更有效的利用capital,反之更无效的利用资金
?%increase/declined in sale and ?% increase/reduction in shareholders’ equity has resulted in ?% improvement/regressive in this key...