？I was studying the chapter on the leverage factor of financial management, and I asked what EPS, T,

I don't believe in this thing, you say it's not MRX

Speaking of which, I still can't avoid this topic. 68

Operating Leverage Margin Contribution EBIT.

Financial leverage.

Earnings before interest and taxes (EBIT interest).

Total Leverage Factor Operating Leverage Factor * Financial Leverage Factor.

Operating leverage benefit is the operating cost of operating costs due to the schematic diagram of operating leverage under the condition of expanding sales (turnover).

Medium fixed costs regret rent leakage to reduce the degree of growth of the degree of faster operating profits.

In a certain production and sales specification type resistant mold, because the fixed cost does not increase with the increase of sales volume (turnover), on the contrary, with the increase of sales volume (turnover), the fixed cost borne by the unit sales volume will be relatively reduced, thus bringing additional benefits to the enterprise.

coefficient calculation

In order to quantify operating leverage, corporate financial management and management accounting.

The rate of change in profit is equivalent to the sales volume (or sales revenue).

The multiple of the rate of change is called the "operating leverage ratio" and "operating leverage ratio", and is expressed by a formula.

The formula for calculating operating profit for the planning period.

After obtaining the operating leverage coefficient, assuming that the fixed costs remain unchanged, the following formula can be used to ** operating profit in the planning period:

Operating profit in the planning period = operating profit in the base period (1 + change rate of production and sales volume Operating leverage coefficient).

Under the effect of a certain proportion of fixed costs, the effect of changes in sales volume on profits is called operating leverage. Since operating leverage has the most comprehensive impact on operational risk, it is often used to measure the magnitude of operational risk. The size of operating leverage is generally expressed by the operating leverage factor, which is the ratio between the EBIT rate of change and the rate of change of sales volume.

The above content refers to: Encyclopedia - Operating Leverage.

1. DOL = EBIT rate of change Production and sales volume change rate = ( EBIT EBIT) (q Q), EBIT is the change in EBIT, and Q is the change value of production and sales.

2. The formula for calculating DFL's financial leverage coefficient is: financial leverage coefficient = change rate of earnings per share of common stock and change rate of EBIT, DFL = (eps eps) (EBIT EBIT).

where: DFL is the financial leverage factor; EPS is the change in earnings per share of common stock; EPS is earnings per common share before the change; EBIT is the change in earnings before interest and taxes; EBIT is EBIT before the change.

3. DTL=dol DFL= m ebit ebit (ebit-i) =m (ebit-i) = marginal profit in the base period Total profit in the base period.

Operating Leverage Factor Contribution Margin EBIT Financial Leverage Factor EBIT (EBIT Interest) Total Leverage Factor Operating Leverage Factor * Financial Leverage Factor Operating Leverage Benefit is an operating profit that grows faster due to the relative reduction of fixed costs in operating costs under the condition of expanding sales (turnover). Within a certain scale of production and sales, because the fixed cost does not increase with the increase in sales volume (turnover), on the contrary, with the increase in sales volume (turnover), the fixed cost borne by the unit sales volume will be relatively reduced, thus bringing additional benefits to the enterprise. In order to quantify the leverage of the operating bank, the multiple of the profit change rate equivalent to the change rate of production and sales (or sales revenue) in the financial management and management accounting of enterprises is called the "operating leverage coefficient" and "operating leverage ratio", and is expressed by formulas.

After obtaining the operating leverage coefficient and assuming that the fixed cost remains unchanged, the following formula can be used**Operating profit in the planning period: operating profit in the planning period = operating profit in the base period (1 + change rate of production and sales volume operating leverage coefficient) Under the effect of a certain proportion of fixed costs, the effect of changes in sales volume on profits is called operating leverage

You add me, I'll shoot ** for you, I just wrote it out, I don't know how to pass it on**.

The reason for the low productivity of employees may come from three aspects: the company's top decision-making level, middle management and employees themselves.

For the high-level decision-makers, the strategic positioning of the enterprise is not clear, and the left and right sways will lead to employees being confused - blind - busy, and finally busy but fruitless, busy and ineffective. Therefore, it is necessary to be cautious in formulating strategies, and even more cautious in revising strategies.

For middle management, the imperfect department system, unclear business processes, unclear job responsibilities, imperfect incentive mechanisms, insufficient informatization, and insufficient authorization can all lead to low work efficiency of employees. Managers should start from the company's system, improve the departmental system, and make the system can be effectively implemented; Optimize business templates and processes to make each"node"The diagonal street between is smooth; Clarify job responsibilities and avoid"Everyone is in charge, and no one is in charge of everything"the situation; Improve the incentive mechanism, fully mobilize the enthusiasm of employees, and encourage the work results of employees rather than the work process; It is particularly important to improve the degree of informatization, share the work results of employees to avoid unnecessary duplication of work, or use the regular meeting of the department to let everyone share the work results, which is especially important for companies with more employees; Streamline management processes and empower employees appropriately. In addition, letting employees know the whole of the job helps employees to grasp the overall work; Before starting a task, employees should be given some time to think, which is conducive to their understanding of the whole work so that they can perform it well.

In the case of employees themselves, if they have limited personal abilities or have an unreasonable schedule, it can also lead to busyness and inefficiency. If the ability is limited, the company should train the employee in capacity improvement according to the position situation; Or choose the right talent, so that the position and the talent are fully matched. 》

Composite cost of capital ratio =

Financial leverage calculations.

Company A: 200 000 (20 000 - 0) = 1 Company B: 200 000 20 000 - 40 000) = Company C:

200 000 200 000 - 80 000 ) = EPS is earnings per share.

A 10% increase in EBIT results in an increase in after-tax surplus.

Company A: 220 000 75% 20 000 = EPS overall formula: EBIT multiplied by 1.1 minus interest on debt Multiplied by 0.75 in the number of shares outstanding.

Why are you wearing these broken shoes today? 14

(1) The company's operating leverage coefficient = (sales revenue - variable costs) (sales revenue - variable costs - fixed costs).

1000x(1-20%)] [1000x(1-20%)-680]=800 120=,2), the company's financial leverage coefficient = ebit [ebit-i-(pd (1-t)))] = (sales revenue - variable costs - fixed costs) [(sales revenue - variable costs - fixed costs) - bonds x interest rate - (preferred stock dividend (1-income tax rate)].

1000 (1-20%)-680] [1000 (1-20%)-680-200x10%-2x3 (1-40%)]=120 90=,3), total leverage coefficient = operating leverage coefficient x financial leverage coefficient =, that is, sales revenue increased by 10%, affecting the increase in earnings per share, the current earnings per share 90 20 = yuan, if the sales revenue reaches 11 million yuan, earnings per share = [1100 (1-20%)-680-200x10%- 2x3 (1-40%)] 20 = yuan, the growth rate (, and there is a small difference because of the rounding in the calculation process.

Operating leverage factor = gross profit EBIT.

Sales Revenue - Variable Costs) (Sales Revenue - Variable Costs - Fixed Costs) = (1000-1000x20%) 1000-1000x20%-680).

Financial Leverage Factor = EBIT [EBIT - Interest - Preferred Stock Dividend (1 - Income Tax Rate)].

120÷[ 120-200x10%-3x2/(1-40%) =120÷90

Total leverage coefficient = operating leverage coefficient x financial leverage coefficient = ask for adoption, thank you!

1. Operating leverage coefficient = marginal contribution EBIT = 1000*(1-20%) (1000*.)

2. Financial leverage coefficient = (1000*.)

3. Total leverage coefficient =

Marginal contribution = 4500 * 30% = 1350

EBIT = 1350-450 = 900

Operating leverage factor = 1 + fixed costs EBIT = 1 + 450 900 = financial leverage factor = EBIT (EBIT - interest expense) = 900 (900-400) =

Marginal contribution = 4500 * 30% = 1350 - EBIT = 1350-450 = 900 - DOF = Marginal contribution (Marginal contribution - fixed expenses) = (EBIT + fixed expenses) EBIT =

DFL = EBIT (EBIT - interest) = 900 500=

If it's a topic, fix the cost.

Generally in the topic of high speed yours, if it is applied in practical work, a fixed fee.

Refers to expenses that do not change with the change in sales.

You may have heard the term financial leverage more than financial leverage coefficient, in fact, the meaning of financial leverage and opportunity cost is a bit similar, today we will talk about the knowledge of financial leverage coefficient, and deep space network to understand it.

1) Financial leverage factor.

The financial leverage factor is generally used to reflect the degree of financial leverage, including the evaluation of the financial risk of the enterprise, and also refers to the multiple of the change rate of profit after tax and EBIT per share (in the range of common shares).

2) Case study.

The total capital of Company A is 12 million yuan, of which the debt capital is 4 million yuan (annual interest rate is 12%), the operating cost of the products produced by Company A is 2 million yuan, the cost rate of Dongtong is 65%, and the sales volume is 11 million yuan.

a：b：c：d：

Analysis: 1. This question mainly examines the knowledge points of financial leverage coefficient.

2. Financial leverage coefficient = EBIT (EBIT - interest).

3. Financial leverage coefficient = [1200*(1-65%)-200] [1200*(1-65%)-200-400*12%]=

3) Total leverage factor.

Total Leverage Factor = Marginal Contribution of Base Period Total Profit of Base Period = (Marginal Contribution of Base Period * EBIT of Base Period) (Total Profit of Base Period * EBIT of Base Period) = (Marginal Contribution of Base Period EBIT of Base Period) * (Profit Before Interest and Taxes of Base Period Total Profit of Base Period) = Operating Leverage Factor * Financial Leverage Factor.