Leverage nikunj
Denunciar
Sanket DedhiaSeguir
16 de Oct de 2011•0 gostou•1,265 visualizações
3 gostaram
Seja o primeiro a gostar disto
mostrar mais
visualizações
Vistos totais
0
No Slideshare
0
De incorporações
0
Número de incorporações
0
Leverage nikunj
16 de Oct de 2011•0 gostou•1,265 visualizações
3 gostaram
Seja o primeiro a gostar disto
mostrar mais
visualizações
Vistos totais
0
No Slideshare
0
De incorporações
0
Número de incorporações
0
Baixar para ler offline
Denunciar
Negócios
Economia e finanças
Sanket DedhiaSeguir
Leverage nikunj
- What is Leverage?
- What is Leverage?
- What is Leverage?
- EBIT Operating Leverage
- EPS Financial Leverage
- Breakeven Analysis Quantity $
- Quantity $ Total Revenue
- Quantity $ Total Revenue
- Quantity { $ Total Revenue Total Cost FC
- Quantity { $ Total Revenue Total Cost FC Q 1 + - } EBIT
- Quantity { $ Total Revenue Total Cost FC Break-even point Q 1 + - } EBIT
- Quantity { $ Total Revenue Total Cost FC Break- even point Q 1 + - } EBIT
- Quantity { $ Total Revenue Total Cost = Fixed FC Break-even point } Q 1 + - EBIT
- Quantity { $ Total Revenue Total Cost = Fixed FC Break- even point } Q 1 + - EBIT
- Trade-off: the firm has a higher breakeven point. If sales are not high enough, the firm will not meet its fixed expenses! Quantity { $ Total Revenue Total Cost = Fixed FC Break- even point } Q 1 + - EBIT
- Breakeven Calculations
- Degree of Operating Leverage from Sales Level (S) DOLs = % change in EBIT % change in sales
- Degree of Operating Leverage from Sales Level (S) DOLs = % change in EBIT % change in sales change in EBIT EBIT change in sales sales =
- Degree of Financial Leverage DFL = % change in EPS % change in EBIT
- Degree of Financial Leverage DFL = % change in EPS % change in EBIT change in EPS EPS change in EBIT EBIT =
- Degree of Combined Leverage
- Degree of Combined Leverage DCL = DOL x DFL
- Degree of Combined Leverage DCL = DOL x DFL % change in EPS % change in Sales =
- Degree of Combined Leverage DCL = DOL x DFL = % change in EPS % change in Sales change in EPS EPS change in Sales Sales =
- Levered Company EPS Financial leverage Operating Income Sales Operating leverage
- Degree of Operating Leverage from Sales Level (S) DOLs = Sales - Variable Costs EBIT
- Degree of Operating Leverage from Sales Level (S) 1,400,000 - 800,000 350,000 = DOLs = Sales - Variable Costs EBIT
- Degree of Operating Leverage from Sales Level (S) 1,400,000 - 800,000 350,000 = 1.714 = DOLs = Sales - Variable Costs EBIT
- Levered Company EPS Operating Income Sales
- Levered Company EPS Operating Income Sales Operating leverage
- Levered Company EPS Operating Income Sales Operating leverage 10%
- Levered Company EPS Operating Income Sales Operating leverage 10% 17.14%
- Degree of Financial Leverage DFL = EBIT EBIT - I
- Degree of Financial Leverage DFL = EBIT EBIT - I = 350,000 225,000
- Degree of Financial Leverage DFL = EBIT EBIT - I = 350,000 225,000 = 1.556
- Levered Company EPS Operating Income Sales
- Levered Company EPS Operating Income Sales Financial leverage
- Levered Company EPS Financial leverage Operating Income Sales 10%
- Levered Company EPS Financial leverage Operating Income Sales 10% 15.56%
- Levered Company EPS Financial leverage Operating Income Sales 10% 15.56%
- Degree of Combined Leverage DCL = Sales - Variable Costs EBIT - I
- Degree of Combined Leverage DCL = Sales - Variable Costs EBIT - I 1,400,000 - 800,000 225,000 =
- Degree of Combined Leverage DCL = Sales - Variable Costs EBIT - I 1,400,000 - 800,000 225,000 = 2.667 =
- Levered Company EPS Operating Income Sales
- Levered Company EPS Operating Income Sales Operating leverage
- Levered Company EPS Financial leverage Operating Income Sales Operating leverage
- Levered Company EPS Financial leverage Operating Income Sales Operating leverage 10%
- Levered Company EPS Financial leverage Operating Income Sales Operating leverage 10% 26.67%
- Levered Company EPS Financial leverage Operating Income Sales 10% 26.67% Operating leverage
Notas do Editor
- 12