The main function
Apply this method, putting the profit margin of commodity funds and the level of money, the capital profit margin of the industry, the capital profit rate of advanced retail stores in the industry, or The business objectives and profit targets of retail stores have not reached the target level, indicating that the profitability is not high.
can also divide the retail store's various commodities (or series products), classify the business goals and standards of retail stores, combined with the market development of goods, and predict the development trend of fund profit margins. This makes a commodity decision.
Calculation method
Capital profit margin = profit / real income capital
income profit margin = profit / sales income
Details < / h2>
Enterprises are engaged in business activities in a certain industry environment, and the industry environment directly affects the competitiveness of the company. US scholar Potter believes that five environmental factors affecting the competition structure in the industry mainly include competition, potential competitive participants enterprises, replacement threats, replacement manufacturers, raw materials suppliers And product users are priced. These five roles jointly determine the intensity and industry profit margins of the industry competition. Industry competition continues to lower investment costs to lower the level of conservation of competition balance. This competitive balanced keepibrend benefits can be estimated with average average profitability. Investors can't receive a long-term revenue than this, because they can choose other industry investments, and the income often below this level will eventually be excluded. The presence of the yield of the average social average profit rate will stimulate the capital input of an industry. The strength of the competitiveness in an industry determines the extent of this investment, and the benefit is close to the social average income level, and therefore, the company has limited the ability to maintain higher income. These five roles determine the space of industry profits, but the actual profit of the company also depends on the size of the industry and growth rate, the scale of the company and the positioning strategy of competitors. These factors must be analyzed in detail the impact of these factors for the current and future compensation rates for the enterprise before the specific enterprise discount rate is determined.
When selecting a discount rate, a company that is substantially balanced, industry profitability and social profit margin can adopt a social average profitter as a discount rate; for product supply is in short supply or greater than The market environment has not been fully formed or subject to policy restrictions, and industry fund profit margins have a large difference in social average profit margin. Industry average profit margin can be used as discount rate; it is special in the industry, such as small scale Low management level, or small scale, high technical content, should consider the characteristics of the company, and adjust the average profit rate of industry funds.
The rate of fund profit can be adjusted according to the estimation of industry statistics, so the fund profit margin method has a simple and easy advantage. However, due to the impact of the world economic integration and information economy, the changes in the external environment of the enterprise have a profound impact on business operations, and the statistics of their results are often lagging behind; at the same time, the reform of state-owned enterprises is still in the stage of attacking. Enterprise business assets and non-operating assets have not been separated, resulting in difficult to reflect the real benefits of
assets, and make the application of funds to generate errors. A feasible way to reduce errors is to adjust the relevant statistics using public information in the securities market.