譯文（字數 5395）

紙張制造企業使用杜邦分析技術的性能比較研究

摘  要

傳統的杜邦分析法主要是分析投資或股權投資的回報率和資產回報率。它通過計算利潤率、總資產周轉率和財務杠桿等相關指標幫助了解公司的業績并向投資者展示公司目前的財務經營狀況。杜邦分析法的研究是基于資產負債表、損益表等財務報表中的相關項目進行的。

關鍵詞︰ 杜邦分析；投資； 股權；資產收益率；資產周轉率；財務杠桿；股本回報率；財務績效

一、研究導論

在早期的1900年，一名在杜邦財政部門工作叫做F.唐納森布朗的人就曾介紹過杜邦模型中的股本回報率。后來在1919年杜邦模型由杜邦公司開發出來到在1920年才正式投入使用。杜邦分析法是一種對財務報表進行分析的方法。它其實是利用股權財務收益狀況來分析企業盈利能力一種數學模型。

二、研究的必要性

▲這項研究是用來評估資產的有效性，進而幫助組織在決策中合理的購買資產。

▲這項研究可以衡量利潤率和資產周轉率對企業的綜合影響。

▲這項研究使得財務報表變得簡單和容易理解。

三、研究的范圍

▲應用杜邦分析法的研究，幫助采購部門、銷售部門解釋為什么要計算資產收益率，并審查公司盈利狀況。

▲當資產收益率較低時公司可以通過杜邦分析輕而易舉的發現，從而幫助企業探討業務存在的問題。

外文原文（字符數 16290）

A COMPARATIVE STUDY OF PERFORMANCE OF PAPER MANUFACTURING COMPANIES USING DUPONT ANALYSIS TECHNIQUE

Shri. Govindraj R Mane1, Dr. Shivappa2

1Research Scholar & Assistant Professor, KLS, Gogte Institute of Technology, Department of MBA, Udyambag, Belagavi, Karnataka, (India)

2Associate Professor, Kousali Institute of Management Studies, Karnataka University

Pavate Nagar, Dharwad, Karnataka, (India)

  ABSTRACT

  DuPont analysis is the analysis done on the returns on investment or equity and return on assets. It analyses profit margin, total asset turnover and financial leverage. The DuPont Analysis throws light on companies' performance and shows the immediate situation of the company to investors. A study of DuPont analysis is based on the line items in the financial statements like Balance Sheet, Income Statement.

  Keywords: Dupont Analysis, Investment, Equity, Return On Assets, Asset Turnover, Financial Leverage, Return on Equity, Financial Performance

  I. INTRODUCTION TO THE STUDY

  In early 1900, F. Donaldson Brown, a person who was working in DuPont?s Treasury department, introduced the DuPont model of return on equity. Later it was developed by E.I. Dupont De Nemour in 1919. it was actually put into use by DuPont Corporation in the year 1920. DuPont analysis is a kind of analysis done on Financial Statement. DuPont is a mathematical model represented as a factorial analysis of profitability from financial return on equity.