Question 1: What is the "company leverage ratio"? The value of debt/owner's equity is the leverage ratio.

question 2: the leverage ratio of an enterprise generally refers to the ratio of equity capital to total assets in the balance sheet. Leverage ratio is an indicator to measure the company's debt risk, which reflects the company's repayment ability from the side. The reciprocal of the leverage ratio is the leverage ratio. Generally speaking, the leverage ratio of investment banks is relatively high. In 27, the leverage ratio of Merrill Lynch was 28 times, and that of Morgan Stanley was 33 times.

question 3: what does the leverage ratio of the enterprise sector mean? "leverage ratio" is a micro-financial concept at first, which generally means that the economic subject can control the larger asset scale with smaller capital through debt. Statistically, the ratio of debt to equity, the ratio of assets to shareholders' equity, the ratio of assets to liabilities, and the reciprocal of the above indicators can all be used to measure the leverage ratio. The newly established "leverage ratio" supervision index in the field of international banking supervision after the current crisis refers to the ratio of tier-one capital held by commercial banks to the adjusted balance of assets on and off the balance sheet.

Question 4: How to treat the high leverage ratio of China's enterprise sector? According to the current situation in China, human resources are still in an awkward position. This aspect is related to the late start of human resources in China and the limited professional ability. The most important thing is that most enterprises in China are in charge of one person, and the business philosophy of enterprise decision-makers does not put the factors that long-term developing people can play in their proper position. In fact, the human resources department should be in a position similar to the assistant to the decision-maker in the enterprise, and should have a detached position in the enterprise system. He directly corresponds to the leader who has the decision-making power in the enterprise, so as to avoid the unfavorable situation that most of the business of the human resources department conflicts with other departments, which makes it difficult to carry out the work.

question 5: what is the financial leverage ratio? financial leverage refers to the means by which enterprises use liabilities to adjust the return on equity capital. Financial leverage ratio refers to the ratio that reflects the company's financing through debt.

General category of financial leverage ratio

(1) Equity ratio. Reflect the relative relationship between debt funds provided by creditors and equity funds provided by owners, and whether the basic financial structure of the company is stable. Its calculation formula is: property right ratio = total liabilities ÷ shareholders' equity. The ratio of property rights indicates the amount of loans that creditors are willing to provide for every one yuan provided by shareholders. In the period of increasing inflation, companies can transfer losses and risks to creditors by borrowing more; During the economic boom, companies can earn extra profits by borrowing more.

(2) Asset-liability ratio. Reflect the importance of debt financing to the company. Its calculation formula is: asset-liability ratio = total liabilities ÷ total assets. There is a direct relationship between asset-liability ratio and financial risk: the higher the asset-liability ratio, the higher the financial risk; On the contrary, the lower the asset-liability ratio, the lower the financial risk.

(3) ratio of long-term liabilities to long-term capital. Reflect the relative importance of long-term liabilities to capital structure (long-term financing). Its calculation formula is: the ratio of long-term liabilities to long-term capital = long-term liabilities ÷ long-term capital. Long-term capital is the sum of all long-term liabilities and shareholders' equity.

question 6: I understand how high the leverage ratio of China enterprises is, and the new income looks high, but in the face of market mechanism, it is no different from the income of other financial assets after all. Unfortunately, such an effective mechanism is excluded from the IPO pricing.

The new income looks high, but in the face of market mechanism, it is no different from other financial assets. Unfortunately, such an effective mechanism is excluded from the IPO pricing.

I don't know when the subscription of new shares is called "innovation", and there is another nickname called "playing the board". Students who love basketball don't get me wrong. It's not a shooting game when playing basketball, but the daily limit of new shares is often repeated after listing, so playing new success is equivalent to "hitting the board".

since the IPO was restarted in June 214, due to the stipulation that the increase on the first day should not exceed 44%, it was limited by the daily limit after the next day, and the rising power could not be exhausted, so there were several daily limit boards in succession. According to simple statistics, from June 214 to April 6, 216, there were 321 new shares listed, all of which were sealed at the upper limit of 44% on the first day, with an average of 11.8 boards (including the daily limit on the first day), with an average cumulative increase of 352%. Such a uniform unilateral rise is really amazing. Anyone who knows the market mechanism knows that if the market wants to exchange, it is necessary for everyone to have different views, such as buying and selling, rising and falling. This unilateral rise really makes people wonder if it is a phenomenon in the market.

It seems that the benefits of playing new games are really high, and playing new games is as sour and refreshing as playing basketball. However, this seemingly high return may not fall into the bag. No matter how high the rate of return, you have to win the lottery before you can get it. The high increase after the listing of new shares will inevitably attract more people to play new ones, which will inevitably reduce the success rate of playing new ones.

For example, since the IPO was restarted in November 215, as of April 6, 216, 52 new shares were issued and listed in Shanghai and Shenzhen stock markets, with an average daily limit of 13.5 after listing (the continuous daily limit before the daily limit was opened), with an average return of 366% in 2 days after listing. Seven stocks listed after March 22 are still in the process of pulling the daily limit, and the daily limit has not yet been opened. However, the average online subscription success rate of these 52 new shares is only .14%. Multiply the winning rate by the increase, and you can calculate the actual rate of return of each new share. In this way, the average new income of these 52 new shares is .68%. In this way, it is not so attractive.

question 7: how to calculate the financial leverage ratio, how to calculate the financial leverage ratio? Financial leverage ratio refers to the ratio that reflects the company's financing through debt.

(1) ratio of property rights. Reflect the relative relationship between debt funds provided by creditors and equity funds provided by owners, and whether the basic financial structure of the company is stable. Its calculation formula is: property right ratio = total liabilities ÷ shareholders' equity. The ratio of property rights indicates the amount of loans that creditors are willing to provide for every one yuan provided by shareholders. In the period of increasing inflation, companies can transfer losses and risks to creditors by borrowing more; During the economic boom, companies can earn extra profits by borrowing more.

(2) Asset-liability ratio. Reflect the importance of debt financing to the company. Its calculation formula is: asset-liability ratio = total liabilities ÷ total assets. There is a direct relationship between asset-liability ratio and financial risk: the higher the asset-liability ratio, the higher the financial risk; Conversely, the lower the asset-liability ratio, the lower the financial risk.

(3) ratio of long-term liabilities to long-term capital. Reflect the relative importance of long-term liabilities to capital structure (long-term financing). Its calculation formula is: the ratio of long-term liabilities to long-term capital = long-term liabilities ÷ long-term capital. Long-term capital is the sum of all long-term liabilities and shareholders' equity.

Question 8: What does the overall leverage ratio of China's non-financial sectors mean? The leverage ratio refers to capital/total assets, that is, capital/(capital+total liabilities)

In fact, the leverage ratio refers to leverage multiple, that is, total assets/capital.

For example, if the down payment for buying a house is 2%, then the leverage ratio is 1: 5; The leverage ratio is five times.

if you ignore the capital cost, when you spend 2, yuan to buy a house of 1 million yuan, and the house price rises by 1%, that is, 1, yuan, your rate of return is 1,/2, yuan =5%. Leverage magnifies your rate of return. Similarly, leverage can also expand losses.

if we simply divide the entities into * * *, residents and enterprises, you will find that the leverage ratio of most departments is not low.

taking local * * * as an example, according to the 16th meeting of the Standing Committee of the National People's Congress in August 215, the local * * * debt limit was locked at 16 trillion yuan in 215, and it is estimated that the national local * * * debt ratio (local * * * debt/local comprehensive financial resources) is 86%.

86%。 Looks safe. This is the result of being a big denominator (fiscal revenue) and a small molecule (local debt).

the local debt data of 16 trillion yuan is underestimated by at least 5%. Before 215, some local financing platform loans and bonds were not classified as local debts; After 215, new loans and bonds of local financing platforms are not classified as local financing platforms.

Local comprehensive financial resources are the largest and loosest yardstick to measure local fiscal revenue. It includes three items: public revenue, higher-level subsidy revenue (transfer payment from central government to local government), * * * fund revenue and financial special account management fund revenue. Among them, the most stable income is the first and second items, that is, the local public financial income and the higher subsidy income. Local public revenue is mainly composed of taxes, which is a common way to measure financial strength in the industry (but the caliber announced by the Audit Office is much wider than this). * * * The main component of fund income is land transfer income, which not only fluctuates greatly, but also is easy to falsify (for example, * * * finds a state-owned enterprise to photograph 3 billion land, and the local * * * fund income will go up, and then * * * will return the funds after it is photographed). This big caliber may not be reasonable.

Question 9: Where is the financial leverage of listed companies and how to calculate it? degree of financial leverage =EBIT/(EBIT-I) I is interest EBIT earnings before interest and tax

EBIT earnings before interest and tax = net profit+income tax+interest expense

Specifically in the financial statements: net profit = total profit-income tax has direct data. Interest expense can be expressed as financial expense

More sources of financial knowledge: Gao Dun Finance

Question 1: What is the leverage ratio? The concept of financial leverage: regardless of the operating profit of an enterprise, the debt interest and the dividend of preferred stock are fixed. When the earnings before interest and tax increases, the fixed financial expenses borne by each yuan of earnings will be relatively reduced, which can bring more earnings to ordinary shareholders. The impact of this debt on investors' income is called financial leverage. Financial leverage affects the after-tax profit of enterprises rather than the profit before interest and tax. The financial leverage ratio is equal to the ratio of operating profit to pre-tax profit, which reflects the influence of financial expenses (interest) on the profits of insurance companies due to the existence of fixed debts. To a certain extent, it reflects the degree of corporate debt and corporate solvency. The higher the financial leverage ratio, the higher the interest expense and the lower the ROE index. Simply put, it is to enlarge your capital, so that your capital cost will be very small, and your risks and benefits will be enlarged, because the percentage of profit and loss is not based on the original capital, but on the enlarged capital. When the Basel Committee on Banking Management drew lessons from the 28 financial crisis and improved the New Capital Accord, it put forward the leverage ratio as a regulatory indicator, with a lower limit of 3%. Leverage ratio = core capital/off-balance-sheet total assets risk exposure One of the important reasons for the 28 financial crisis is the excessive accumulation of off-balance-sheet leverage ratio in the banking system. The accumulation of leverage ratio is also a feature of previous financial crises (such as the 1998 financial crisis). At the worst of the crisis, the banking industry was forced to reduce the leverage ratio, which amplified the pressure of declining asset value and further worsened the positive feedback cycle among losses, bank capital base reduction and credit contraction. Therefore, the Basel Committee will introduce the requirement of leverage ratio in order to achieve the following objectives: (1) Determine the bottom line for the accumulation of leverage ratio in the banking system, which will help to mitigate the risks brought by unstable deleveraging and bring negative impacts on the financial system and the real economy. (2) Using simple, transparent indicators based on total risk as supplementary indicators of venture capital ratio provides additional protection against model risks and measurement errors. The calculation of leverage ratio should be comparable among different economies and the differences in accounting standards should be adjusted. 1% credit risk conversion factor will be applied to some off-balance sheet items. And the interaction between leverage ratio and venture capital ratio will be tested. The Basel Committee set the leverage ratio as a reliable supplementary measure to the requirements of venture capital, and incorporated it into the first pillar framework based on appropriate evaluation and calibration. In 211, China Banking Regulatory Commission issued guidance on the implementation of new regulatory standards for banks in China, and the leverage ratio of commercial banks should not be less than 4%.