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daixie:沃达丰的股本回报率

研究表明,2011年至2015年,沃达丰的股本回报率与英国电信(BT PLc)相比保持不变。Hiang Liow (2010, p.250)认为,较高的股本回报率意味着公司的财务实力。通过以上分析发现,沃达丰在2011年和2012年经历了经营亏损。然而,与BT PLc相比,2012年、2014年和2015年的股本回报率为正,因为BT PLc在2011年和2013年的股本回报率为负。这意味着该公司已经从其他收入来源获得了收入,包括股息、出售资产。因此,英国电信股份有限公司股本回报率的增加并不意味着其盈利状况。

与英国电信公司(BT PLc)相比,沃达丰的营业利润率较2014年大幅下降。Bebchuk等人(2009,p.785)认为,营业利润的下降意味着该公司的经营效率低下,无法通过其业务活动产生销售。2011年至2012年,沃达丰的营业利润率相当高,但2012年之后,该公司未能保持盈利。沃达丰2013年至2014年的营业利润,而英国电信公司2013年至2014年的营收并没有显著增长。相反,BT PLc在2014年至2015年也出现了经营亏损,但相比沃达丰在2014年至2015年期间的状况要好得多。由此可以推断,BT PLc的运行效率要比沃达丰高,因为没有沃达丰那样的起起落落。

研究表明,2011年至2014年,沃达丰目前的持股比例分别高于英国电信(BT plc)。Melo等(2009,p.402)认为,公司的流动比率越高,说明公司有能力用流动资产偿还流动债务。沃达丰相对于英国电信公司(BT PLc)的流动性状况较好,说明沃达丰有能力用流动资产偿还当前的债务。Flynn等人(2010,p.65)批评说,较高的流动比率并不意味着公司能够用流动资产偿还流动债务,因为现金可能会被困在缓慢流动的库存中。由此可以推断,沃达丰的高流动性状况是相当令人满意的,但同时也需要保持快速流动的库存,才能立即变现现金。

daixie:沃达丰的股本回报率

it reveals that the return on equity of Vodafone is maintained compared to BT PLc from the year 2011 to 2015 respectively. Hiang Liow (2010, p.250) argued that the higher return on equity signifies the company’s financial strength. According to the above analysis it is found that Vodafone has experienced operating loss in the year 2011 and 2012. However, the return on equity is positive in the year 2012, 2014 and 2015 compared to BT PLc as BT PLc has experienced negative return in equity in 2011 and 2013. It implies that the company has earned revenue from other source of income in form of dividend, sale of assets. Hence, increase in return on equity of BT PLc does not signify its profitable situation.
The operating profit margin of Vodafone has declined drastically from the year 2014 compared to BT PLc. Bebchuk et al. (2009, p.785) argued that the fall in operating profit signifies that the company has suffered from operational inefficiency to generate sales by its business activities. Vodafone’s operating profit margins was quite higher from the year 2011 to 2012 but the company failed to sustain the profitability after the year 2012. The operating profit of Vodafone from the year 2013 to 2014, whereas the revenue of the BT PLc company has not increased significantly from the year 2013 to 2014. On the contrary, BT PLc also suffered from operating loss from 2014 to 2015 but it is much better position compared to Vodafone between the time period of 2014 and 2015. Hence, it can be inferred that BT PLc is operationally more efficient compared to vodafone as there is no such ups and down like vodafone.
it reveals that the current ratio of Vodafone is maintained higher than BT plc from the year 2011 to 2014 respectively. Melo et al. (2009, p.402) supported that the higher current ratio of the company signifies the company’s ability to meet its current debt obligation with its current assets. The higher liquidity position of Vodafone compared to BT PLc implies that Vodafone is able to meet its current debt obligation with its current assets. Flynn et al. (2010, p.65) criticized that the higher current ratio does not imply that the company is able to meet the current debt obligation with its current asset because the cash may be stuck into slow moving inventory. Hence, it can be inferred that the high liquidity position of Vodafone is quite satisfactory but it also requires maintaining fast moving inventory for immediate realization of cash.