Analysis of Financial Statements(英文版)(ppt 41页)

Analysis of Financial Statements(英文版)内容提要：
What are the five major categories of ratios, and what questions do they answer?
Liquidity:  Can we make required payments?
Asset management:  Right amount of assets vs. sales?
Debt management:  Right mix of debt and equity?
Profitability:  Do sales prices exceed unit costs, and are sales high enough as reflected in PM, ROE, and ROA?
Market value:  Do investors like what they see as reflected in P/E and M/B ratios?
The Du Pont system focuses on:
Expense control (P.M.)
Asset utilization (TATO)
Debt utilization (Eq. Mult.)
What are some potential problems and limitations of financial ratio analysis?
Comparison with industry averages is difficult if the firm operates many different divisions.