开发者:上海品职教育科技有限公司 隐私政策详情

应用版本:4.2.11(IOS)|3.2.5(安卓)APP下载

二狗 · 2025年05月19日

ROE是不是相当于净资产收益率

* 问题详情,请 查看题干

NO.PZ202303150300000301

问题如下:

According to the Gordon growth model and the inputs used by Alahtab, CRN's intrinsic value per share as of 20X3 is closest to:

选项:

A.$18.07. B.$33.10. C.$35.78.

解释:

Solution

C is correct. Using the Gordon growth modelV0 = D0 (1 + g)/(r – g).So,

g = b × ROE

b = 1 – Payout ratio = 1 – (48/120) = 0.6

ROE = Net income/Shareholders’ equity = 120/(800 + 87.3) = 13.5

g = 0.6 × 13.5 = 8.1%

D0 = $48 million/50 million shares = $0.96/share

V0 = (0.96 × 1 + 0.081)/(0.11 – 0.081) = $35.78

A is incorrect. It uses payout ratio (instead of retention ratio) to compute g: g = 0.4 × 13.5 = 5.4%; V0 = 0.96 × 1.054/(0.11 – 0.054) = $18.07.

B is incorrect. It uses D0 (instead of D1) in computing V0: V0 = 0.96/(0.11 – 0.081) = $33.10.

那么为什么不能用总资产(Total liability and equity)-总负债计算

1 个答案

王园圆_品职助教 · 2025年05月19日

同学你好,你是问shareholder's equity为什么不能用“(Total liability and equity)-总负债计算“?

问题是题目没有给出公司的总负债金额呀

题目给的负债相关信息只有下面截图这两项,这两项也不是公司所有的liability呢,这里更像是给出了有息负债debt,而无息的经营性负债都没有给出相关信息,所以你根本没有办法根据题目信息计算总的liability

另外,ROE针对的是普通股股东的,是指普通股股东的投资回报率,所以分子本质是普通股股东的shareholder's equity,(而不是所有的equity项目)也就是题目中common stock 和 retained earnings这两项的和,所以直接用这两项相加即可了

  • 1

    回答
  • 0

    关注
  • 3

    浏览
相关问题

NO.PZ202303150300000301 问题如下 Accorng to the Gorn growth mol anthe inputs useAlahtaCRN's intrinsic value per share of 20X3 is closest to: A.$18.07. B.$33.10. C.$35.78. SolutionC is correct. Using the Gorn growth molV0 = (1 + g)/(r – g).So,g = b × ROEb = 1 – Payout ratio = 1 – (48/120) = 0.6ROE = Net income/Shareholrs’ equity = 120/(800 + 87.3) = 13.5g = 0.6 × 13.5 = 8.1% = $48 million/50 million shares = $0.96/shareV0 = (0.96 × 1 + 0.081)/(0.11 – 0.081) = $35.78A is incorrect. It uses payout ratio (insteof retention ratio) to compute g: g = 0.4 × 13.5 = 5.4%; V0 = 0.96 × 1.054/(0.11 – 0.054) = $18.07.B is incorrect. It uses (insteof ) in computing V0: V0 = 0.96/(0.11 – 0.081) = $33.10. b要是精确到小数点后再多一些的话,g应该是0.082446吧?这样算出来答案是37多

2025-03-02 15:57 1 · 回答

NO.PZ202303150300000301 问题如下 Accorng to the Gorn growth mol anthe inputs useAlahtaCRN's intrinsic value per share of 20X3 is closest to: A.$18.07. B.$33.10. C.$35.78. SolutionC is correct. Using the Gorn growth molV0 = (1 + g)/(r – g).So,g = b × ROEb = 1 – Payout ratio = 1 – (48/120) = 0.6ROE = Net income/Shareholrs’ equity = 120/(800 + 87.3) = 13.5g = 0.6 × 13.5 = 8.1% = $48 million/50 million shares = $0.96/shareV0 = (0.96 × 1 + 0.081)/(0.11 – 0.081) = $35.78A is incorrect. It uses payout ratio (insteof retention ratio) to compute g: g = 0.4 × 13.5 = 5.4%; V0 = 0.96 × 1.054/(0.11 – 0.054) = $18.07.B is incorrect. It uses (insteof ) in computing V0: V0 = 0.96/(0.11 – 0.081) = $33.10. = $48 million/50 million shares = $0.96/share50 million shares 哪里来的?

2024-04-22 14:01 1 · 回答

NO.PZ202303150300000301 问题如下 Accorng to the Gorn growth mol anthe inputs useAlahtaCRN's intrinsic value per share of 20X3 is closest to: A.$18.07. B.$33.10. C.$35.78. SolutionC is correct. Using the Gorn growth molV0 = (1 + g)/(r – g).So,g = b × ROEb = 1 – Payout ratio = 1 – (48/120) = 0.6ROE = Net income/Shareholrs’ equity = 120/(800 + 87.3) = 13.5g = 0.6 × 13.5 = 8.1% = $48 million/50 million shares = $0.96/shareV0 = (0.96 × 1 + 0.081)/(0.11 – 0.081) = $35.78A is incorrect. It uses payout ratio (insteof retention ratio) to compute g: g = 0.4 × 13.5 = 5.4%; V0 = 0.96 × 1.054/(0.11 – 0.054) = $18.07.B is incorrect. It uses (insteof ) in computing V0: V0 = 0.96/(0.11 – 0.081) = $33.10. 为什么加87.3,不是本年的

2024-03-27 09:59 2 · 回答