计算机财务管理杜邦分析法模板,杜邦分析法

If ROE is unsatisfactory, the Du Pont identity helps locate the part of the business that is underperforming.

Here is how the DuPont identity is derived:

ROE = NI/TE

Multiply by 1 (TA/TA) and then rearrange

ROE = (NI / TE) (TA / TA)

ROE = (NI / TA) (TA / TE) = ROA * EM

Multiply by 1(S/S) and then rearrange

ROE = (NI / TA) (TA / TE) (S/S)

ROE = (NI / S) (S / TA) (TA / TE)

ROE = PM * TAT * EM

ROE = Profit Margin * Total Asset Turnover * Equity Multiplier

When:

NI = Net Income

TE = Total Equity

TA = Assets

EM = TA/TE = 1 + D/E = The Equity Multiplier

S = Sales