CY · 2021年06月22日
NO.PZ2016091001000011
问题如下：
Assume that CC Inc. has $360,000 operating income in the early stages, and the operating income has changed as $420,000 later. The financial cost is $120,000. So the CC Inc.'s degree of financial leverage(DFL) is closest to :
选项：
A.1.3.
B.1.8.
C.1.5.
解释：
C is correct.
The operating income percentage change==16.67%
The net income percentage change==25%
DFL ==1.5
我直接用的EBIT/EBIT-Interest的公式 带入的是 360000/360000-120000 同样得到了1.5
王琛_品职助教 · 2022年09月09日
嗨，从没放弃的小努力你好：
@Ash
如果用这个公式，为什么不用变化后的EBIT, 而是要用变化前的？
1
请问同学所说的「这个公式」是指哪个公式呢？
我理解是指：EBIT / (EBIT-Interest)?
2
如果是指上面的公式的话，其实这个公式是推导之后的结果
变化后的 EBIT，本身是需要用到的，只不过是在公式推导过程中，被约掉了而已
3
如果用 EBIT_0 表示变化「前」的 EBIT，用 EBIT_1 表示变化「后」的 EBIT
会发现，EBIT_1 在公式推导中被约掉了
请见之前答复的链接，也请见下图
----------------------------------------------虽然现在很辛苦，但努力过的感觉真的很好，加油！
王琛_品职助教 · 2021年06月22日
嗨，爱思考的PZer你好：
可以的，推导请参考：https://class.pzacademy.com/qa/57328
----------------------------------------------努力的时光都是限量版，加油！
NO.PZ2016091001000011问题如下 Assume thInh$360,000 operating income in the early stages, anthe operating income hchange$420,000 later. The financicost is $120,000. So the Inc.'s gree of financileverage(L) is closest to :A.1.3.B.1.8.C.1.5. C is correct.The operating income percentage change=$420,000−$360,000$360,000\frac{\$420,000-\$360,000}{\$360,000}$360,000$420,000−$360,000=16.67%The net income percentage change=($420,000−$120,000)−($360,000−$120,000)$360,000−$120,000\frac{\left(\$420,000-\$120,000\right)-\left(\$360,000-\$120,000\right)}{\$360,000-\$120,000}$360,000−$120,000($420,000−$120,000)−($360,000−$120,000)=25%L =The net income percentage changeThe operating income percentage change=25%16.67%\frac{The\;net\;income\;percentage\;change}{The\;operating\;income\;percentage\;change}=\frac{25\%}{16.67\%}TheoperatingincomepercentagechangeThenetincomepercentagechange=16.67%25%=1.5 没看懂具体啥意思，能不能具体讲一下
NO.PZ2016091001000011 问题如下 Assume thInh$360,000 operating income in the early stages, anthe operating income hchange$420,000 later. The financicost is $120,000. So the Inc.'s gree of financileverage(L) is closest to : A.1.3. B.1.8. C.1.5. C is correct.The operating income percentage change=$420,000−$360,000$360,000\frac{\$420,000-\$360,000}{\$360,000}$360,000$420,000−$360,000=16.67%The net income percentage change=($420,000−$120,000)−($360,000−$120,000)$360,000−$120,000\frac{\left(\$420,000-\$120,000\right)-\left(\$360,000-\$120,000\right)}{\$360,000-\$120,000}$360,000−$120,000($420,000−$120,000)−($360,000−$120,000)=25%L =The net income percentage changeThe operating income percentage change=25%16.67%\frac{The\;net\;income\;percentage\;change}{The\;operating\;income\;percentage\;change}=\frac{25\%}{16.67\%}TheoperatingincomepercentagechangeThenetincomepercentagechange=16.67%25%=1.5 请问老师，如果用36万/(36万 -12万）=1.5，为什么不可以用42万/（42万-12万）？这里有点不太明白了。谢谢老师！
NO.PZ2016091001000011问题如下 Assume thInh$360,000 operating income in the early stages, anthe operating income hchange$420,000 later. The financicost is $120,000. So the Inc.'s gree of financileverage(L) is closest to :A.1.3.B.1.8.C.1.5. C is correct.The operating income percentage change=$420,000−$360,000$360,000\frac{\$420,000-\$360,000}{\$360,000}$360,000$420,000−$360,000=16.67%The net income percentage change=($420,000−$120,000)−($360,000−$120,000)$360,000−$120,000\frac{\left(\$420,000-\$120,000\right)-\left(\$360,000-\$120,000\right)}{\$360,000-\$120,000}$360,000−$120,000($420,000−$120,000)−($360,000−$120,000)=25%L =The net income percentage changeThe operating income percentage change=25%16.67%\frac{The\;net\;income\;percentage\;change}{The\;operating\;income\;percentage\;change}=\frac{25\%}{16.67\%}TheoperatingincomepercentagechangeThenetincomepercentagechange=16.67%25%=1.5 net income percentage change這邊的分母不太理解
NO.PZ2016091001000011 能否让老师详细讲解一下这题？ L = [Q(P - V- FC]/[Q(P - V- FC - INT] 怎么得到答案的公式？
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