NO.PZ2023081403000145
问题如下:
Q. An analyst compiles the data in Exhibit 1 for a company:Exhibit 1:
Net Profit Margin
Based only on the information above, the most appropriate conclusion is that, over the period FY13 to FY15, the company’s:
选项:
A.net profit margin and financial leverage have decreased. B.net profit margin and financial leverage have increased. C.net profit margin has decreased but its financial leverage has increased.解释:
C is correct. The company’s net profit margin has decreased and its financial leverage has increased. ROA = Net profit margin × Total asset turnover. ROA decreased over the period despite the increase in total asset turnover; therefore, the net profit margin must have decreased.
ROE = Return on assets × Financial leverage. ROE increased over the period despite the drop in ROA; therefore, financial leverage must have increased.
从哪里看出来为什么ROA是下降的呢?