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- 2013-8-23
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CFAI Moch Afternoon Q58 - Asset Turnover calc..
I was trying to rule these statements out 1 by 1…
Statement A - I was able to rule out because you use DDM to get “g” and “r”. First you calculate “g” as RR*ROE=15.82% then you have to calculate “r” (this is dirty IMHO)… and you get r = .171
ROE = ROA * Leverage so Leverage = ROE/ROA. SMGI leverage is 1.73 industry avg is 1.454 so statement 1 is incorrect.
Statement B - I couldn’t figure out.
Statement C - I calculated and got the PVGO as 19.17 and then as a percentage of the total estimated future price 19.17 / 35.78 = .535
Through process of elimination I was able to answer correctly, but I’m confused b/c I’ve never seen Asset turnover = ROA / NPM. Can anyone explain? |
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发表于 2013-4-3 16:15
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