译文（字数 5395）

纸张制造企业使用杜邦分析技术的性能比较研究

摘  要

传统的杜邦分析法主要是分析投资或股权投资的回报率和资产回报率。它通过计算利润率、总资产周转率和财务杠杆等相关指标帮助了解公司的业绩并向投资者展示公司目前的财务经营状况。杜邦分析法的研究是基于资产负债表、损益表等财务报表中的相关项目进行的。

关键词︰ 杜邦分析；投资； 股权；资产收益率；资产周转率；财务杠杆；股本回报率；财务绩效

一、研究导论

在早期的1900年，一名在杜邦财政部门工作叫做F.唐纳森布朗的人就曾介绍过杜邦模型中的股本回报率。后来在1919年杜邦模型由杜邦公司开发出来到在1920年才正式投入使用。杜邦分析法是一种对财务报表进行分析的方法。它其实是利用股权财务收益状况来分析企业盈利能力一种数学模型。

二、研究的必要性

▲这项研究是用来评估资产的有效性，进而帮助组织在决策中合理的购买资产。

▲这项研究可以衡量利润率和资产周转率对企业的综合影响。

▲这项研究使得财务报表变得简单和容易理解。

三、研究的范围

▲应用杜邦分析法的研究，帮助采购部门、销售部门解释为什么要计算资产收益率，并审查公司盈利状况。

▲当资产收益率较低时公司可以通过杜邦分析轻而易举的发现，从而帮助企业探讨业务存在的问题。

外文原文（字符数 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.