非财务人员凯之财务管理.pptVIP

Current ratio  1.Current ratio = Current assets/ Current Liability Normal = 120% Better : 150% 2.Working Capital = A/R + Inventory - A/P If A/R + Inventory A/P A/R : too long / overdue Inventory : Process , JIT , Idle , Business model ---- Cash out / loan exposure ** Focus on CCC management Leverage Leverage = Total liability / Equity Normal = 1 Better = 0.8 If : Total liability Equity - Working capital out of control - P L contribution can not support capital expenditure -- ROA - Long term investment is not efficiency -- ROI --- Cash out / loan exposure Focus on : ROA ROI Break Even Point (BEP) NSB / NUB : Net sales billing , Net unit billing Variable cost : material , labor , overhead , expense Fixed cost : people . deprecation , expense NUB * UP = NSB NSB - VC=Margin Margin – FC = Profit NSB – VC - FC = Profit , If Profit = 0 NSB – VC = FC , NSB = FC + VC NUB * UP – NUB * @VC = FC NUB ( UP - @VC ) = FC NUB = FC / ( UP - @VC ) Financial Structure Operation Efficiency Operation Performance People Productivity Financial KPI 財務名詞簡介 Financial Structure Credit Control Banking Current Ratio ≧1 Debt Service Ratio ≧1.5 Interest Coverage Ratio ≧1.25 Leverage Ratio ≦1.33 Formula Current Ratio = 〔流動資產 ÷ 流動負債〕 Debt Service Ratio = 〔（稅前利益＋利息費用＋折舊及攤提）÷（利息費用＋長期負債一年內到期部分）〕 Interest Coverage Ratio = 〔（稅前利益＋利息費用）÷ 利息費用〕 Leverage Ratio =〔負債總額 ÷ 股東權益總額〕 Operation Performance NSB Growth GPM % OP profit % PBT% ROE / ROA ROI / EPS NSB Growth (YOY/ MOM) NSB/Capital : Capital turnover Gross Profit Margin % OP Profit % PBT % Return on Equity / Return on Total Assets Return on Capital / Earnings per Share (YOY: 與去年同期比較) (MOM: 與上個月比較) 杜邦圖 1--ROA 資產報酬率 ROA PBT/Total Assets 淨利率 PBT / NSB 資產週轉率 NSB / Total Assets 淨利 PBT 銷貨額 NSB 業外收入 O.I. 業外支出 O.E. 營業利潤 O.P. Profit 投資/匯兌收