贝恩分析方法ratioanalysis2.ppt

ratioanalysis Agenda Analyzing Ratios The Art of Ratio Analysis The Need for Judgment Agenda Types of Ratios Profitability Ratios - Definitions Profitability Ratios - Description Profitability Ratios - Over Time Profitability Ratios - Market Leader Turnover Ratios - Definitions Turnover Ratios - Transaction Cycle Turnover Ratios - Description Turnover Ratios - Tradeoffs Leverage Ratios - Definitions Leverage Ratios - Description Debt Versus Equity Debt Questions - Debt and Equity Debt in Leverage Ratios Bain typically looks only at long-term debt (debt with a term of 1 year or more) Accountants measure debt as short-term debt plus long term debt Equity in Leverage Ratios Bain typically uses the market value of equity (I.e., the share price multiplied by the number of shares). Others may use the book value of equity, which is the amount shown on the balance sheet Debt Questions Debt Answers Liquidity and Coverage Ratios - Definitions Liquidity and Coverage Ratios - Description Agenda Return on Equity DuPont Formula Agenda Unidentified Industries Exercise Unidentified Industries Exercise - Data Unidentified Industries Exercise - Answer Gillette Exercise Gillette Exercise - Profitability Ratios Gillette Exercise - Turnover Ratios Gillette Exercise - Leverage Ratios Gillette Exercise - Liquidity and Coverage Ratios Agenda Forecasting Exercise - Data Forecasting Exercise - Answer Forecasting Exercise - Assumptions (p.1) Forecasting Exercise - Assumptions (p.2) Forecasting Exercise - Detailed Answer Agenda Abbreviations Agenda Key Takeaways Takeaway Slides (1 of 3) Takeaway Slides (2 of 3) Takeaway Slides (3 of 3) ratioanalysis Exercise: Please calculate Gillette Company’s key financial ratios based on its 1996 annual report Profitability Turnover Leverage Liquidity and coverage The objective of this exercise is to test your ability to calculate key financial ratios. Note: For this exercise, do not include merger-related costs in the calculations. ratioanalysi