2017-03-07 13:06

毛利率是毛利与销售收入之比。毛利润是通过扣除销售收入销售成本。[ 6 ]分析这比我们看的山特维克集团收入表。[ 7 ]综合收益表显示,集团有一个开发票的销售£40亿1020万和销售成本£追平27亿4200万。这两个数字之间的GP比1.46:1意味着集团能够使46便士每£额外销售额的1。它可能看起来有吸引力但必须指出的是,销售成本不包括,可显著降低总利润等费用。[ 8 ]如果我们扣除其他费用,值得£7亿4190万,营业利润下降5亿2630万£。股东和公司未来的投资计划及其股利政策取决于净利润。它是通过扣除利息款项。本年度的净利润扣除山特维克后相当于£327million。 我们可以看到,虽然毛利率是一个有用的比率,它不显示公司的财务状况,不影响任何投资决策。真正真实的数字是税后净利润。比分类下资本结构比率是更详细的描述。然而,当使用比率,如齿轮和利息覆盖,市场结构,消费者偏好和口味,规模经济,产品类型等因素有相当大的影响。例如,来自债务人的付款取决于消费者的收入和偏好。这些因素会影响流动资产(现金),进而影响公司偿付债权人的能力。


The Gross Profit Ratio is the ratio between the Gross Profit and the Sales Revenue. The Gross Profits is arrived at by deducting the Cost of Sales from the Sales Revenue.[6] To analyse this ratio we shall look at the Income Statement of The Sandvik Group.[7] The Consolidated Income Statement suggests that the group had an Invoiced Sales of £4010.2 million and Cost of Sales equalling £2742 million. The GP ratio between these two figures is 1.46:1 meaning that the group is able to make 46 pence extra from every £1 of sales. It may look appealing but it must be noted that the Cost of Sales does not include other expenses that may significantly reduce the gross profits.[8] If we deduct other expenses worth £741.9 million, the operating profits drop to £526.3 million. The Shareholders and the company’s future investment plans and its dividend policies depends on the Net Profits. It is arrived at by deducting the interest payables. The Sandvik’s Net Profits for the year after tax deductions are equivalent to £327million.

We can see that though the Gross Profit ratio is a useful ratio it does not shows the company’s financial position and does not influence any investment decisions. The real true figure that matters is the Net Profits after taxation. The ratio categorised under capital structure ratios are more elaborate and descriptive. However when using ratios such as gearing and interest cover, factor such as market structure, consumer preference and taste, economies of scale, product type have considerable influence. For example, payments from debtors depends of consumer income and preference. These factors have its affect on the current assets (cash) which will in turn affect the company ability to pay its creditors.