财务管理专业英语3E教学课件作者刘媛媛 Topic 4.ppt

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1、4.1FinancialRatioAnalysis4.2LiquidityRatios4.3DebtManagementRatios4.4AssetManagementRatios4.5ProfitabilityRatios4.6MarketValueRatios4.7UsesandLimitationsofFinancialRatioAnalysisFinancialRatioAnalysisAfinancialratioisamathematicalrelationshipamongseveralnumbersoftenstatedintheformofperce

2、ntage,times,ordays.AnalyzingFinancialRatiosFinancialratiosarenotstandardized.Analyzingasinglefinancialratioforagivenyearmaynotbeveryuseful.Someofafirm’sfinancialaccountingpracticesorchoiceswillaffectitsfinancialstatementsand,finally,itsfinancialratios.Financialratiosdonotprovideanalysts

3、withalloftheanswersaboutafirm’scondition.LiquidityRatiosLiquidityratiosindicateafirm’sabilitytopayitsobligationsintheshortrun.CurrentratioLiquidityRatiosQuickratioCashratioDebtManagementRatiosDebtmanagementratioscharacterizeafirmintermsoftherelativemixofdebtandequityfinancingandprovidem

4、easuresofthelong-termdebtpayingabilityofthefirm.DebtratioDebttoequityratioEquitymultiplierDebtManagementRatiosDebtmanagementratioscharacterizeafirmintermsoftherelativemixofdebtandequityfinancingandprovidemeasuresofthelong-termdebtpayingabilityofthefirm.DebtratioDebttoequityratioEqui

5、tymultiplierDebtManagementRatiosLong-termDebtRatioInterestCoverageRatioDebtManagementRatiosCashFlowCoverageRatioAssetManagementRatiosAssetmanagementratios,alsoreferredtoasassetutilizationorassetefficiencyratios,measureafirm’sabilitytomanagetheassetsatitsdisposal.AccountsReceivableTurnov

6、erRatioAssetManagementRatiosInventoryTurnoverRatioAccountsPayableTurnoverRatioAssetManagementRatiosAssetTurnoverRatiosProfitabilityRatiosProfitabilityratiomeasurestheearningpowerofafirm.GrossProfitMarginProfitabilityRatiosOperatingProfitMarginNetProfitMarginProfitabilityRatiosReturnonAs

7、setsTotalReturnonAssetsProfitabilityRatiosReturnonTotalEquityReturnonCommonEquityProfitabilityRatiosDuPontAnalysisofROEMarketValueRatiosPrice/earningsRatioMarket-to-bookValueRatioMarketValueRatiosDividendYieldDividendPayoutUsesandLimitationsofFinancialRatioAnalysiswhileratioana