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acclimatise · 2025年06月24日

reinvestment是指的什么？

  1. CFA I
  2. FRA

NO.PZ2024030503000036

问题如下：

Question
The following partial common-size cash flow statement and coverage ratio information is available for a company:

Cash Flow Statement for the Year Ended 31 December of Year 2

Cash Flow Coverage Ratios

Compared with Year 1, the most appropriate conclusion an analyst can make about Year 2 is that the company’s ability to use operating cash flows to:

选项：

A.acquire assets improved. B.pay dividends decreased. C.acquire assets, pay debts, and make distributions to owners decreased.

解释：

Solution

  1. Incorrect. The company’s reinvestment coverage ratio worsened. Calculations are as follows:

    Reinvestment coverage ratio

  2. Correct. The company’s dividend payment coverage ratio worsened; therefore, the company was less able to pay dividends from operating cash flows. Calculations are as follows:

  3. Incorrect. The company’s investing and financing coverage ratio improved. Calculations are as follows:

    Investing and financing coverage ratio

    Analyzing Statements of Cash Flows II

    • calculate and interpret free cash flow to the firm, free cash flow to equity, and performance and coverage cash flow ratios

为什么reinvestment只代表了投资长期资产，不代表other investing activities? reinvestment的定义是什么？在哪能看出来指的是投资长期资产。

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1 个答案

王园圆_品职助教 · 2025年06月24日

同学你好，所谓的reinvestment，是指公司为了维持规模不变或者公司想要扩大生产所需要新购买的机器设备和投资——本质上这个ratio是衡量公司用一年经营产生的现金流可以再次投资在自身发展上的能力的指标

所以公式中就提及了cash paid for long-term assets。因为other investing activities一般就不是公司核心的为了业务增长所进行的投资了，很可能是短期投资，闲钱投资，不是必要的，就不需要计入考虑


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相关问题

NO.PZ2024030503000036问题如下 QuestionThe following particommon-size cash flow statement ancoverage ratio information is available for a company:Cash Flow Statement for the YeEn31 cember of Ye2 Cash Flow Coverage Ratios Comparewith Ye1, the most appropriate conclusion analyst cmake about Ye2 is ththe company’s ability to use operating cash flows to:A.acquire assets improveB.pvin creaseC.acquire assets, pbts, anmake stributions to owners creaseSolution Incorrect. The company’s reinvestment coverage ratio worsene Calculations are follows: Reinvestment coverage ratio Correct. The company’s vinpayment coverage ratio worsene therefore, the company wless able to pvin from operating cash flows. Calculations are follows: Incorrect. The company’s investing anfinancing coverage ratio improve Calculations are follows: Investing anfinancing coverage ratio Analyzing Statements of Cash Flows II • calculate aninterpret free cash flow to the firm, free cash flow to equity, anperformanancoverage cash flow ratios 没明白题目，请一下题干和答案

2024-04-17 11:32 1 · 回答