使用提供的数据(假设)计算以下内容:
投资回报
经营杠杆
财务杠杆
综合杠杆
卢比 | |
---|---|
销售(S) | 1000000 |
可变成本(VC) | 375000 |
固定成本(FC) | 95000 |
债务 | 425000 |
债务利息 | 10% |
权益资本 | 590000 |
解
解决方案如下-
return on investment = EBIT/ (D + E)return on investment = (S – VC – FC)/ (D + E)
return on investment = (1000000 – 375000 – 95000)/ (425000 + 590000)
return on investment = 530000/ 1015000
return on investment = 52.22%
operating leverage (OL) = (S – VC)/ EBIToperating leverage = (1000000 – 375000)/ 530000
operating leverage = 625000/ 530000
operating leverage = 1.18
financial leverage (FL) =EBIT/ EBTfinancial leverage = 530000/ (EBIT – I)
financial leverage = 530000/ (530000 – (425000*10%))
financial leverage = 530000/ (530000- 42500)
financial leverage = 530000/ 487500
financial leverage = 1.087
combined leverage = OL * FLcombined leverage = 1.18 * 1.087
combined leverage = 1.28
这里,
EBIT =息税前利润。
EBT =税前和息后收益。
I =债券利息。
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