SlideShare a Scribd company logo

Analisis de los ratios financieros

β€’Download as DOCX, PDFβ€’
β€’
G
GermanSanchez107

analisis de los ratios financieros para calcular

Economy & Finance
1 of 6
ANALISIS DE LOS RATIOS FINANCIEROS 1. ANALISIS DE LIQUIDEZ 1.1 RATIO DE LIQUIDEZ GENERAL O RAZON CORRIENTE El ratiode liquidezgeneralloobtenemosdividiendoel activocorrienteentre el pasivo corriente.El activocorriente incluye bΓ‘sicamente lascuentasde caja,bancos,cuentasyletras por cobrar, valoresde fΓ‘cil negociaciΓ³ne inventarios.Este ratioeslaprincipal medidade liquidez,muestraque porcentaje de deudasde cortoplazosoncubiertasporelementosde activo,cuya conversiΓ³nendinerocorresponde aproximadamente al vencimientode las deudas. Formula πΏπ‘–π‘žπ‘’π‘–π‘‘π‘’π‘§ πΊπ‘’π‘›π‘’π‘Ÿπ‘Žπ‘™ = π΄π‘π‘‘π‘–π‘£π‘œ πΆπ‘œπ‘Ÿπ‘Ÿπ‘–π‘’π‘›π‘‘π‘’ π‘ƒπ‘Žπ‘ π‘–π‘£π‘œ πΆπ‘œπ‘Ÿπ‘Ÿπ‘–π‘’π‘›π‘‘π‘’ AΓ±o2012 πΏπ‘–π‘žπ‘’π‘–π‘‘π‘’π‘§ πΊπ‘’π‘›π‘’π‘Ÿπ‘Žπ‘™2012 = 2,609,923 1,262,154 = 2.07 AΓ±o2013 πΏπ‘–π‘žπ‘’π‘–π‘‘π‘’π‘§ πΊπ‘’π‘›π‘’π‘Ÿπ‘Žπ‘™2013 = 2,838,177 1,230,991 = 2.31 Esto quiere decirque parael 2013 el activocorriente es2.31 vecesmΓ‘sgrande que el pasivo corriente;oque por cada UM de deuda,laempresacuentaconUM 2.31 para pagarla. Cuanto mayor seael valorserΓ‘ lacapacidad de la empresade pagarsus deudas.Enel 2012 el activo corriente es2.07 vecesmΓ‘sgrande que el pasivocorriente;oque por cada UM de deuda,la empresacuentaconUM 2.07 para pagarla. Cuantomayor seael valorserΓ‘ lacapacidad de la empresade pagar susdeudas. 1.2 RATIO CAPITAL DE TRABAJO Se define comounarelaciΓ³nentre losactivoscorrientesylospasivoscorrientes.El capital de trabajo,eslo que le quedaa la firmadespuΓ©sde pagarsusdeudasinmediatas,esladiferencia entre losactivoscorrientesmenospasivoscorrientes;algoasΓ­como el dineroque le queda para poderoperaren el dΓ­a a dΓ­a. Formula πΆπ‘Žπ‘π‘–π‘‘π‘Žπ‘™ 𝑑𝑒 π‘‡π‘Ÿπ‘Žπ‘π‘Žπ‘—π‘œ = π΄π‘π‘‘π‘–π‘£π‘œ πΆπ‘œπ‘Ÿπ‘Ÿπ‘–π‘’π‘›π‘‘π‘’ βˆ’ π‘ƒπ‘Žπ‘ π‘–π‘£π‘œ πΆπ‘œπ‘Ÿπ‘Ÿπ‘–π‘’π‘›π‘‘π‘’ = π‘ˆπ‘›π‘–π‘‘π‘Žπ‘‘π‘’π‘  π‘€π‘œπ‘›π‘’π‘‘π‘Žπ‘Ÿπ‘–π‘Žπ‘  AΓ±o2012 πΆπ‘Žπ‘π‘–π‘‘π‘Žπ‘™ 𝑑𝑒 π‘‡π‘Ÿπ‘Žπ‘π‘Žπ‘—π‘œ2012 = 2,609,923 βˆ’ 1,262,154 = 𝑆/.1,347,769 AΓ±o2013 πΆπ‘Žπ‘π‘–π‘‘π‘Žπ‘™ 𝑑𝑒 π‘‡π‘Ÿπ‘Žπ‘π‘Žπ‘—π‘œ2013 = 2,838,177 βˆ’ 1,230,991 = 𝑆/.1,607,186 Estas cifrasnos indicanque se cuentacon unabuenacapacidadde maniobraenla gestiΓ³ndel capital de trabajo.
2 INDICE DE GESTIONO ACTIVIDAD Midenla efectividadyeficienciade lagestiΓ³n,enlaadministraciΓ³ndel capital de trabajo, expresanlosefectosde decisionesypolΓ­ticasseguidasporlaempresa,conrespectoala utilizaciΓ³nde sus fondos.Evidenciancomose manejΓ³laempresaenloreferenteacobranzas, ventasal contado,inventariosyventastotales.EstosratiosimplicanunacomparaciΓ³nentre ventasy activosnecesariosparasoportarel nivel de ventasconsiderandoque existe un apropiadovalorde correspondenciaentre estosconceptos. 2.1 ROTACION DE CAJASY BANCOS Dan una ideasobre lamagnitudde la caja y bancospara cubrir dΓ­as de venta.Lo obtenemos multiplicandoel total de cajay bancospor 360 (dΓ­asdel aΓ±o) y dividiendoel productoentre las ventasanuales. Formula π‘…π‘œπ‘‘π‘Žπ‘π‘–π‘œπ‘› 𝑑𝑒 πΆπ‘Žπ‘—π‘Žπ‘  𝑦 π΅π‘Žπ‘›π‘π‘œπ‘  = 𝐢𝐴𝐽𝐴𝑆 𝐡𝐴𝑁𝐢𝑂𝑆 𝑋 360 𝑉𝐸𝑁𝑇𝐴𝑆 AΓ±o2012 π‘…π‘œπ‘‘π‘Žπ‘π‘–π‘œπ‘› 𝑑𝑒 πΆπ‘Žπ‘—π‘Žπ‘  𝑦 π΅π‘Žπ‘›π‘π‘œπ‘ 2012 = 13,505 𝑋 360 3,574,766 = 1.36 = 1 π‘‘π‘–π‘Ž AΓ±o2013 π‘…π‘œπ‘‘π‘Žπ‘π‘–π‘œπ‘› 𝑑𝑒 πΆπ‘Žπ‘—π‘Žπ‘  𝑦 π΅π‘Žπ‘›π‘π‘œπ‘ 2013 = 3,251 𝑋 360 3,696,378 = 0.31 = 0.3 π‘‘π‘–π‘Ž En este rationos muestraque para 2012 la liquidezde cajay bancospermite cubrir1 dΓ­a, mientrasque parael aΓ±o 2013 disminuye significativamenteen 0.3 dΓ­a. 2.2 ROTACION DE ACTIVOSTOTALES Ratioque tiene porobjetivomedirlaactividadenventasde lafirma.O sea,cuantasvecesla empresapuede colocarentre susclientesunvalorigual ala inversiΓ³nrealizada. Para obtenerlodividimoslasventasnetasporel valorde losactivostotales Formula π‘…π‘œπ‘‘π‘Žπ‘π‘–π‘œπ‘› 𝑑𝑒 π΄π‘π‘‘π‘–π‘£π‘œπ‘  π‘‡π‘œπ‘‘π‘Žπ‘™π‘’π‘  = π‘‰π‘’π‘›π‘‘π‘Žπ‘  π΄π‘π‘‘π‘–π‘£π‘œπ‘ π‘‡π‘œπ‘‘π‘Žπ‘™π‘’π‘  AΓ±o2012 π‘…π‘œπ‘‘π‘Žπ‘π‘–π‘œπ‘› 𝑑𝑒 π΄π‘π‘‘π‘–π‘£π‘œπ‘  π‘‡π‘œπ‘‘π‘Žπ‘™π‘’π‘ 2012 = 3,574,766 3,190,872 = 1.12 𝑣𝑒𝑐𝑒𝑠 AΓ±o2013 π‘…π‘œπ‘‘π‘Žπ‘π‘–π‘œπ‘› 𝑑𝑒 π΄π‘π‘‘π‘–π‘£π‘œπ‘  π‘‡π‘œπ‘‘π‘Žπ‘™π‘’π‘ 2012 = 3,696,378 3,414,878 = 1.08 𝑣𝑒𝑐𝑒𝑠
Es decir,interpretandoel rationosmuestraque laempresaenel aΓ±o2012 ha colocadoentre sus clientes1.12vecesel valorde la inversiΓ³nefectuada,mientrasque parael aΓ±o 2012 ha disminuidoa1.08 veces. 2.3 ROTACION DE ACTIVOFIJO Esta razΓ³n essimilara laanterior,con el agregadoque mide lacapacidadde la empresade utilizarel capital enactivosfijos.Mide laactividadde ventasde laempresa.Dice,cuantas vecespodemos colocarentre losclientesunvalorigual ala inversiΓ³nrealizadaenactivofijo. Formula π‘…π‘œπ‘‘π‘Žπ‘π‘–π‘œπ‘› 𝑑𝑒 π΄π‘π‘‘π‘–π‘£π‘œπ‘  πΉπ‘–π‘—π‘œπ‘  = π‘‰π‘’π‘›π‘‘π‘Žπ‘  π΄π‘π‘‘π‘–π‘£π‘œπ‘ πΉπ‘–π‘—π‘œπ‘  AΓ±o2012 π‘…π‘œπ‘‘π‘Žπ‘π‘–π‘œπ‘› 𝑑𝑒 π΄π‘π‘‘π‘–π‘£π‘œ πΉπ‘–π‘—π‘œ2012 = 3,574,766 581,262.76 = 6.15 𝑣𝑒𝑐𝑒𝑠 AΓ±o2013 π‘…π‘œπ‘‘π‘Žπ‘π‘–π‘œπ‘› 𝑑𝑒 π΄π‘π‘‘π‘–π‘£π‘œ πΉπ‘–π‘—π‘œ2013 = 3,696,378 576,658.03 = 6.41 𝑣𝑒𝑐𝑒𝑠 Esto quiere decirque enel aΓ±o2012 se ha colocadoen el mercado6.15 vecesel valorde lo invertidoenactivofijo,mientrasque parael 2013 se ha incrementadoen6.41veces. 3 ANALISIS DE SOLVENCIA, ENDEUDAMIENTO O APALANCAMIENTO Estos ratios,muestranlacantidadde recursosque son obtenidosde tercerosparael negocio. Expresanel respaldoque posee laempresafrente asusdeudastotales.Danunaideade la autonomΓ­afinancierade lamisma.Combinanlasdeudasde cortoy largoplazo. Permitenconocerque tanestable oconsolidadaeslaempresaentΓ©rminosde composiciΓ³nde lospasivosysu pesorelativoconel capital y el patrimonio. 3.1 ESTRUCTURA DE CAPITAL (DEUDA - PATRIMONIO) Es el cociente que muestrael gradode endeudamientoconrelaciΓ³nal patrimonio.Este ratio evalΓΊael impactodel pasivototal conrelaciΓ³nal patrimonio Formula πΈπ‘ π‘‘π‘Ÿπ‘’π‘π‘‘π‘’π‘Ÿπ‘Ž 𝑑𝑒 πΆπ‘Žπ‘π‘–π‘‘π‘Žπ‘™ = π‘ƒπ‘Žπ‘ π‘–π‘£π‘œ π‘‡π‘œπ‘‘π‘Žπ‘™ π‘ƒπ‘Žπ‘‘π‘Ÿπ‘–π‘šπ‘œπ‘›π‘–π‘œ AΓ±o2012 πΈπ‘ π‘‘π‘Ÿπ‘’π‘π‘‘π‘’π‘Ÿπ‘Ž 𝑑𝑒 πΆπ‘Žπ‘π‘–π‘‘π‘Žπ‘™2012 = 1,262,154 1,928,718 = 65%
AΓ±o2013 πΈπ‘ π‘‘π‘Ÿπ‘’π‘π‘‘π‘’π‘Ÿπ‘Ž 𝑑𝑒 πΆπ‘Žπ‘π‘–π‘‘π‘Žπ‘™2013 = 1,230,991 2,183,887 = 56% Esto quiere decir,que porcada unidadmonetariaaportadaporlosdueΓ±os,hayun0.65 centavoso el 65% para el aΓ±o2012; mientrasque para el aΓ±o 2013 bajoa 0.56 centavoso56% portadopor losacreedores. 3.2 ENDEUDAMIENTO Representael porcentajede fondosde participaciΓ³nde losacreedores,yaseaenel corto o largoplazo, enlos activos.Eneste caso, el objetivoesmedirel nivelglobal de endeudamiento o proporciΓ³nde fondosaportadosporlosacreedores. Formula π‘…π‘Žπ‘§π‘œπ‘› 𝑑𝑒 πΈπ‘›π‘‘π‘’π‘’π‘‘π‘Žπ‘šπ‘–π‘’π‘›π‘‘π‘œ = π‘ƒπ‘Žπ‘ π‘–π‘£π‘œ π‘‡π‘œπ‘‘π‘Žπ‘™ π΄π‘π‘‘π‘–π‘£π‘œ π‘‡π‘œπ‘‘π‘Žπ‘™ AΓ±o2012 π‘…π‘Žπ‘§π‘œπ‘› 𝑑𝑒 πΈπ‘›π‘‘π‘’π‘’π‘‘π‘Žπ‘šπ‘–π‘’π‘›π‘‘π‘œ2012 = 1,262,154 3,190,872 = 40% AΓ±o2013 π‘…π‘Žπ‘§π‘œπ‘› 𝑑𝑒 πΈπ‘›π‘‘π‘’π‘’π‘‘π‘Žπ‘šπ‘–π‘’π‘›π‘‘π‘œ2013 = 1,230,991 3,414,878 = 36% Es decirque en laempresapara el aΓ±o 2012 el 40% de losactivostotalesesfinanciadoporlos acreedoresypara el 2013 losactivostotalessonfinanciadosenun36%. 4 ANALISIS DE RENTABILIDAD Mide la capacidadde generaciΓ³nde utilidadesporparte de laempresa.Tienenporobjetivo apreciarel resultadonetoobtenidoapartirde ciertasdecisionesypolΓ­ticasenla administraciΓ³nde losfondosde laempresa. 4.1 RENDIMIENTO SOBRE PATRIMONIO Esta razΓ³n loobtenemosdividiendolautilidadnetaentre el patrimonionetode laempresa. Mide la rentabilidadde losfondosaportadosporel inversionista. Formula π‘…π‘’π‘›π‘‘π‘–π‘šπ‘–π‘’π‘›π‘‘π‘œ π‘ π‘œπ‘π‘Ÿπ‘’ 𝑒𝑙 π‘ƒπ‘Žπ‘‘π‘Ÿπ‘–π‘šπ‘œπ‘›π‘–π‘œ = π‘ˆπ‘‘π‘–π‘™π‘–π‘‘π‘Žπ‘‘ π‘π‘’π‘‘π‘Ž π‘ƒπ‘Žπ‘‘π‘Ÿπ‘–π‘šπ‘œπ‘›π‘–π‘œ AΓ±o2012 π‘…π‘’π‘›π‘‘π‘–π‘šπ‘–π‘’π‘›π‘‘π‘œπ‘ π‘œπ‘π‘Ÿπ‘’ 𝑒𝑙 π‘ƒπ‘Žπ‘‘π‘Ÿπ‘–π‘šπ‘œπ‘›π‘–π‘œ2012 = 155,318 1,928,718 = 8%
AΓ±o2013 π‘…π‘’π‘›π‘‘π‘–π‘šπ‘–π‘’π‘›π‘‘π‘œπ‘ π‘œπ‘π‘Ÿπ‘’ 𝑒𝑙 π‘ƒπ‘Žπ‘‘π‘Ÿπ‘–π‘šπ‘œπ‘›π‘–π‘œ2013 = 255,170 2,183,887 = 12% Esto significaque porcada unidadmonetariaque el dueΓ±omantieneenel aΓ±o2012 generaun rendimientodel 8%sobre el patrimonioyenel aΓ±o2013 generaunrendimientodel12% 4.2 RENDIMIENTO SOBRE LA INVERSION Es una medidade larentabilidaddel negociocomoproyectoindependiente de losaccionistas. Formula π‘…π‘’π‘›π‘‘π‘–π‘šπ‘–π‘’π‘›π‘‘π‘œ π‘ π‘œπ‘π‘Ÿπ‘’ π‘™π‘Ž πΌπ‘›π‘£π‘’π‘Ÿπ‘ π‘–π‘œπ‘› = π‘ˆπ‘‘π‘–π‘™π‘–π‘‘π‘Žπ‘‘ π‘π‘’π‘‘π‘Ž π΄π‘π‘‘π‘–π‘£π‘œ π‘‡π‘œπ‘‘π‘Žπ‘™ AΓ±o2012 π‘…π‘’π‘›π‘‘π‘–π‘šπ‘–π‘’π‘›π‘‘π‘œπ‘ π‘œπ‘π‘Ÿπ‘’ π‘™π‘Ž πΌπ‘›π‘£π‘’π‘Ÿπ‘ π‘–π‘œπ‘›2012 = 155,318 3,190,872 = 5% AΓ±o2013 π‘…π‘’π‘›π‘‘π‘–π‘šπ‘–π‘’π‘›π‘‘π‘œπ‘ π‘œπ‘π‘Ÿπ‘’ π‘™π‘Ž πΌπ‘›π‘£π‘’π‘Ÿπ‘ π‘–π‘œπ‘›2013 = 255,170 3,414,878 = 7% Quiere decir,que cadaunidadmonetariaenel aΓ±o2012 enlosactivosprodujoese aΓ±oun rendimientode 5%sobre lainversiΓ³n,mientrasque parael 2013 aumentoel rendimientoaun 7% 4.3 MARGENBRUTO Este ratio indicalacantidadque se obtiene de utilidadporcadaunidadmonetariade ventas, despuΓ©sde que laempresahacubiertoel costode losbienesque produce y/ovende. Formula π‘€π‘Žπ‘Ÿπ‘”π‘’π‘› 𝑑𝑒 π‘ˆπ‘‘π‘–π‘™π‘–π‘‘π‘Žπ‘‘ π΅π‘Ÿπ‘’π‘‘π‘Ž = π‘‰π‘’π‘›π‘‘π‘Žπ‘  βˆ’ πΆπ‘œπ‘ π‘‘π‘œπ‘ π‘‘π‘’ π‘‰π‘’π‘›π‘‘π‘Žπ‘  π‘‰π‘’π‘›π‘‘π‘Žπ‘  AΓ±o2012 π‘€π‘Žπ‘Ÿπ‘”π‘’π‘› 𝑑𝑒 π‘ˆπ‘‘π‘–π‘™π‘–π‘‘π‘Žπ‘‘ π΅π‘Ÿπ‘’π‘‘π‘Ž2012 = 3,574,766 βˆ’ 2,782,086 3,574,766 = 22% AΓ±o2013 π‘€π‘Žπ‘Ÿπ‘”π‘’π‘› 𝑑𝑒 π‘ˆπ‘‘π‘–π‘™π‘–π‘‘π‘Žπ‘‘ π΅π‘Ÿπ‘’π‘‘π‘Ž2013 = 3,696,378 βˆ’ 2,441,246 3,696,378 = 34% Esto nosdice que el margende utilidadbrutaenel 2012 fue de un22% mientrasque enel aΓ±o 2013 aumentoa 34%, estole conviene ala empresapuestoque cuandomasgrande seael margenbruto de utilidad,serΓ‘mejor,puessignifica que tieneunbajocostode las mercancΓ­as que vende.
4.4 MARGENNETO RentabilidadmΓ‘sespecΓ­ficaque el anterior.Relacionalautilidadliquidaconel nivel de las ventasnetas.Mide el porcentaje de cadaunidadmonetariade ventasque quedadespuΓ©sde que todoslosgastos,incluyendolosimpuestos,hansidodeducidos. Formula π‘€π‘Žπ‘Ÿπ‘”π‘’π‘› π‘π‘’π‘‘π‘œ 𝑑𝑒 π‘ˆπ‘‘π‘–π‘™π‘–π‘‘π‘Žπ‘‘ = π‘ˆπ‘‘π‘–π‘™π‘–π‘‘π‘Žπ‘‘ π‘π‘’π‘‘π‘Ž π‘‰π‘’π‘›π‘‘π‘Žπ‘  AΓ±o2012 π‘€π‘Žπ‘Ÿπ‘”π‘’π‘› π‘π‘’π‘‘π‘œ 𝑑𝑒 π‘ˆπ‘‘π‘–π‘™π‘–π‘‘π‘Žπ‘‘2012 = 155,318 3,574,766 = 4% AΓ±o2013 π‘€π‘Žπ‘Ÿπ‘”π‘’π‘› π‘π‘’π‘‘π‘œ 𝑑𝑒 π‘ˆπ‘‘π‘–π‘™π‘–π‘‘π‘Žπ‘‘2013 = 255,170 3,696,378 = 7 % Esto quiere decirque enel 2012 por cada unidadmonetariaque vendiolaempresa,obtuvo una utilidadde 4% y para el 2013 fue del 7%.

Recommended

Corporate Financial Management Assignment - Ratio Analysis of Hays plc
Corporate Financial Management Assignment - Ratio Analysis of Hays plcCorporate Financial Management Assignment - Ratio Analysis of Hays plc
Corporate Financial Management Assignment - Ratio Analysis of Hays plcAmany Hamza
Β 
Financial analysis of aanjaneya life care ltd
Financial analysis of aanjaneya life care ltdFinancial analysis of aanjaneya life care ltd
Financial analysis of aanjaneya life care ltdSwapnil Chavan
Β 
Ratio Analysis (Financial Accounting)
Ratio Analysis (Financial Accounting)Ratio Analysis (Financial Accounting)
Ratio Analysis (Financial Accounting)Udara Akalanka
Β 
Managerial accounting assignment, financial ratio analysis of automobile comp...
Managerial accounting assignment, financial ratio analysis of automobile comp...Managerial accounting assignment, financial ratio analysis of automobile comp...
Managerial accounting assignment, financial ratio analysis of automobile comp...Tushar Upadhyay
Β 
Account assignment
Account assignmentAccount assignment
Account assignmentErik Ong
Β 
Ratio Anaylsis Of Nokia .. Adeel Ahmad Wahla
Ratio Anaylsis Of Nokia .. Adeel Ahmad WahlaRatio Anaylsis Of Nokia .. Adeel Ahmad Wahla
Ratio Anaylsis Of Nokia .. Adeel Ahmad WahlaAdeel Wahla
Β 
Assignment - Amway (Malaysia) Holdings Berhad
Assignment - Amway (Malaysia) Holdings BerhadAssignment - Amway (Malaysia) Holdings Berhad
Assignment - Amway (Malaysia) Holdings BerhadKai Yun Pang
Β 
Account assignment report finale(1)
Account assignment report finale(1)Account assignment report finale(1)
Account assignment report finale(1)Chong Yi Hui
Β 

Recommended

Corporate Financial Management Assignment - Ratio Analysis of Hays plc
Corporate Financial Management Assignment - Ratio Analysis of Hays plcCorporate Financial Management Assignment - Ratio Analysis of Hays plc
Corporate Financial Management Assignment - Ratio Analysis of Hays plcAmany Hamza
Β 
Financial analysis of aanjaneya life care ltd
Financial analysis of aanjaneya life care ltdFinancial analysis of aanjaneya life care ltd
Financial analysis of aanjaneya life care ltdSwapnil Chavan
Β 
Ratio Analysis (Financial Accounting)
Ratio Analysis (Financial Accounting)Ratio Analysis (Financial Accounting)
Ratio Analysis (Financial Accounting)Udara Akalanka
Β 
Managerial accounting assignment, financial ratio analysis of automobile comp...
Managerial accounting assignment, financial ratio analysis of automobile comp...Managerial accounting assignment, financial ratio analysis of automobile comp...
Managerial accounting assignment, financial ratio analysis of automobile comp...Tushar Upadhyay
Β 
Account assignment
Account assignmentAccount assignment
Account assignmentErik Ong
Β 
Ratio Anaylsis Of Nokia .. Adeel Ahmad Wahla
Ratio Anaylsis Of Nokia .. Adeel Ahmad WahlaRatio Anaylsis Of Nokia .. Adeel Ahmad Wahla
Ratio Anaylsis Of Nokia .. Adeel Ahmad WahlaAdeel Wahla
Β 
Assignment - Amway (Malaysia) Holdings Berhad
Assignment - Amway (Malaysia) Holdings BerhadAssignment - Amway (Malaysia) Holdings Berhad
Assignment - Amway (Malaysia) Holdings BerhadKai Yun Pang
Β 
Account assignment report finale(1)
Account assignment report finale(1)Account assignment report finale(1)
Account assignment report finale(1)Chong Yi Hui
Β 
Indus Motors Toyota Pakistan Financial Ratio Analysis
Indus Motors Toyota Pakistan Financial Ratio AnalysisIndus Motors Toyota Pakistan Financial Ratio Analysis
Indus Motors Toyota Pakistan Financial Ratio AnalysisMuhammad Zahid
Β 
Financial Ratio Analysis Tutorial Exercise 1 Answers
Financial Ratio Analysis Tutorial Exercise 1 AnswersFinancial Ratio Analysis Tutorial Exercise 1 Answers
Financial Ratio Analysis Tutorial Exercise 1 AnswersPang Shuen
Β 
Engro Foods Ratio Analysis
Engro Foods Ratio AnalysisEngro Foods Ratio Analysis
Engro Foods Ratio AnalysisToufeeq Ahmed β™•
Β 
Accounts ratio report
Accounts ratio reportAccounts ratio report
Accounts ratio reportPeishann97
Β 
Acc spritzer
Acc spritzerAcc spritzer
Acc spritzerdhirazain
Β 
Ratio-Analysis of Asian Paints
Ratio-Analysis of Asian PaintsRatio-Analysis of Asian Paints
Ratio-Analysis of Asian PaintsSavita Marwal
Β 
Kellogg’s Ratio Analysis
Kellogg’s Ratio AnalysisKellogg’s Ratio Analysis
Kellogg’s Ratio AnalysisMaritza Hernandez
Β 
Ratio analysis
Ratio analysisRatio analysis
Ratio analysisNikita Arora
Β 
Cocacola ratio analysis
Cocacola ratio analysisCocacola ratio analysis
Cocacola ratio analysisgathondu
Β 
Acc30205 basic accounting assignment jan 2015
Acc30205 basic accounting assignment jan 2015Acc30205 basic accounting assignment jan 2015
Acc30205 basic accounting assignment jan 2015Trace96
Β 
3 4 ratio analysis (1)
3 4 ratio analysis (1)3 4 ratio analysis (1)
3 4 ratio analysis (1)sdwaltton
Β 
ratio analysis of hero motocorp ltd.
ratio analysis of hero motocorp ltd.ratio analysis of hero motocorp ltd.
ratio analysis of hero motocorp ltd.amritpal kaur
Β 
Patanjali- Ratio Analysis
Patanjali- Ratio AnalysisPatanjali- Ratio Analysis
Patanjali- Ratio AnalysisHarshvardhan Pal
Β 
Financial ratio analysis
Financial ratio analysisFinancial ratio analysis
Financial ratio analysisUmer Awan
Β 
Financial ratio analysis of becacon pharma
Financial ratio analysis of becacon pharmaFinancial ratio analysis of becacon pharma
Financial ratio analysis of becacon pharmaEnamul Islam
Β 
Ratio Analysis - Case Study - ITC LTD
Ratio Analysis - Case Study - ITC LTDRatio Analysis - Case Study - ITC LTD
Ratio Analysis - Case Study - ITC LTDIsham Rashik
Β 
Cox & Kings Financial Ratios
Cox & Kings Financial RatiosCox & Kings Financial Ratios
Cox & Kings Financial RatiosSantosh Hegde
Β 
Accounts final
Accounts finalAccounts final
Accounts finalPui Chun Shian
Β 
Haseeb project fm new
Haseeb project fm newHaseeb project fm new
Haseeb project fm newMoezza A
Β 
Finance Assignment Ratio Analysis.
Finance Assignment Ratio Analysis. Finance Assignment Ratio Analysis.
Finance Assignment Ratio Analysis. nusratjahan56
Β 
BXPHARMA
BXPHARMABXPHARMA
BXPHARMAAshikur Tushar
Β 
Gull ahmad.pptx
Gull ahmad.pptx Gull ahmad.pptx
Gull ahmad.pptx Sameera Khan
Β 

More Related Content

What's hot

Indus Motors Toyota Pakistan Financial Ratio Analysis
Indus Motors Toyota Pakistan Financial Ratio AnalysisIndus Motors Toyota Pakistan Financial Ratio Analysis
Indus Motors Toyota Pakistan Financial Ratio AnalysisMuhammad Zahid
Β 
Financial Ratio Analysis Tutorial Exercise 1 Answers
Financial Ratio Analysis Tutorial Exercise 1 AnswersFinancial Ratio Analysis Tutorial Exercise 1 Answers
Financial Ratio Analysis Tutorial Exercise 1 AnswersPang Shuen
Β 
Accounts ratio report
Accounts ratio reportAccounts ratio report
Accounts ratio reportPeishann97
Β 
Acc spritzer
Acc spritzerAcc spritzer
Acc spritzerdhirazain
Β 
Ratio-Analysis of Asian Paints
Ratio-Analysis of Asian PaintsRatio-Analysis of Asian Paints
Ratio-Analysis of Asian PaintsSavita Marwal
Β 
Kellogg’s Ratio Analysis
Kellogg’s Ratio AnalysisKellogg’s Ratio Analysis
Kellogg’s Ratio AnalysisMaritza Hernandez
Β 
Ratio analysis
Ratio analysisRatio analysis
Ratio analysisNikita Arora
Β 
Cocacola ratio analysis
Cocacola ratio analysisCocacola ratio analysis
Cocacola ratio analysisgathondu
Β 
Acc30205 basic accounting assignment jan 2015
Acc30205 basic accounting assignment jan 2015Acc30205 basic accounting assignment jan 2015
Acc30205 basic accounting assignment jan 2015Trace96
Β 
3 4 ratio analysis (1)
3 4 ratio analysis (1)3 4 ratio analysis (1)
3 4 ratio analysis (1)sdwaltton
Β 
ratio analysis of hero motocorp ltd.
ratio analysis of hero motocorp ltd.ratio analysis of hero motocorp ltd.
ratio analysis of hero motocorp ltd.amritpal kaur
Β 
Patanjali- Ratio Analysis
Patanjali- Ratio AnalysisPatanjali- Ratio Analysis
Patanjali- Ratio AnalysisHarshvardhan Pal
Β 
Financial ratio analysis
Financial ratio analysisFinancial ratio analysis
Financial ratio analysisUmer Awan
Β 
Financial ratio analysis of becacon pharma
Financial ratio analysis of becacon pharmaFinancial ratio analysis of becacon pharma
Financial ratio analysis of becacon pharmaEnamul Islam
Β 
Ratio Analysis - Case Study - ITC LTD
Ratio Analysis - Case Study - ITC LTDRatio Analysis - Case Study - ITC LTD
Ratio Analysis - Case Study - ITC LTDIsham Rashik
Β 
Cox & Kings Financial Ratios
Cox & Kings Financial RatiosCox & Kings Financial Ratios
Cox & Kings Financial RatiosSantosh Hegde
Β 
Haseeb project fm new
Haseeb project fm newHaseeb project fm new
Haseeb project fm newMoezza A
Β 

What's hot (19)

Indus Motors Toyota Pakistan Financial Ratio Analysis
Indus Motors Toyota Pakistan Financial Ratio AnalysisIndus Motors Toyota Pakistan Financial Ratio Analysis
Indus Motors Toyota Pakistan Financial Ratio Analysis
Β 
Financial Ratio Analysis Tutorial Exercise 1 Answers
Financial Ratio Analysis Tutorial Exercise 1 AnswersFinancial Ratio Analysis Tutorial Exercise 1 Answers
Financial Ratio Analysis Tutorial Exercise 1 Answers
Β 
Engro Foods Ratio Analysis
Engro Foods Ratio AnalysisEngro Foods Ratio Analysis
Engro Foods Ratio Analysis
Β 
Accounts ratio report
Accounts ratio reportAccounts ratio report
Accounts ratio report
Β 
Acc spritzer
Acc spritzerAcc spritzer
Acc spritzer
Β 
Ratio-Analysis of Asian Paints
Ratio-Analysis of Asian PaintsRatio-Analysis of Asian Paints
Ratio-Analysis of Asian Paints
Β 
Kellogg’s Ratio Analysis
Kellogg’s Ratio AnalysisKellogg’s Ratio Analysis
Kellogg’s Ratio Analysis
Β 
Ratio analysis
Ratio analysisRatio analysis
Ratio analysis
Β 
Cocacola ratio analysis
Cocacola ratio analysisCocacola ratio analysis
Cocacola ratio analysis
Β 
Acc30205 basic accounting assignment jan 2015
Acc30205 basic accounting assignment jan 2015Acc30205 basic accounting assignment jan 2015
Acc30205 basic accounting assignment jan 2015
Β 
3 4 ratio analysis (1)
3 4 ratio analysis (1)3 4 ratio analysis (1)
3 4 ratio analysis (1)
Β 
ratio analysis of hero motocorp ltd.
ratio analysis of hero motocorp ltd.ratio analysis of hero motocorp ltd.
ratio analysis of hero motocorp ltd.
Β 
Patanjali- Ratio Analysis
Patanjali- Ratio AnalysisPatanjali- Ratio Analysis
Patanjali- Ratio Analysis
Β 
Financial ratio analysis
Financial ratio analysisFinancial ratio analysis
Financial ratio analysis
Β 
Financial ratio analysis of becacon pharma
Financial ratio analysis of becacon pharmaFinancial ratio analysis of becacon pharma
Financial ratio analysis of becacon pharma
Β 
Ratio Analysis - Case Study - ITC LTD
Ratio Analysis - Case Study - ITC LTDRatio Analysis - Case Study - ITC LTD
Ratio Analysis - Case Study - ITC LTD
Β 
Cox & Kings Financial Ratios
Cox & Kings Financial RatiosCox & Kings Financial Ratios
Cox & Kings Financial Ratios
Β 
Accounts final
Accounts finalAccounts final
Accounts final
Β 
Haseeb project fm new
Haseeb project fm newHaseeb project fm new
Haseeb project fm new
Β 

Similar to Analisis de los ratios financieros

Finance Assignment Ratio Analysis.
Finance Assignment Ratio Analysis. Finance Assignment Ratio Analysis.
Finance Assignment Ratio Analysis. nusratjahan56
Β 
Gull ahmad.pptx
Gull ahmad.pptx Gull ahmad.pptx
Gull ahmad.pptx Sameera Khan
Β 
IMPERIAL TOBACCO GROUP PLC
IMPERIAL TOBACCO GROUP PLCIMPERIAL TOBACCO GROUP PLC
IMPERIAL TOBACCO GROUP PLCHardik Bendbar
Β 
Infosys Ratio Analysis
Infosys Ratio AnalysisInfosys Ratio Analysis
Infosys Ratio AnalysisAfshan Hirji
Β 
Ratio analysis of square texttile
Ratio analysis of square texttile Ratio analysis of square texttile
Ratio analysis of square texttile William Banarjee
Β 
Cargills (Ceylon) PLC & Nestle Lanka PLC financial position and the performa...
Cargills (Ceylon) PLC & Nestle Lanka PLC financial position and the performa...Cargills (Ceylon) PLC & Nestle Lanka PLC financial position and the performa...
Cargills (Ceylon) PLC & Nestle Lanka PLC financial position and the performa...Dulakshi Ranadeera
Β 
Financial Accounting Project
Financial Accounting ProjectFinancial Accounting Project
Financial Accounting ProjectNeelutpal Saha
Β 
FINANCIAL STATEMENT DANGOTE...POLICY
FINANCIAL STATEMENT DANGOTE...POLICYFINANCIAL STATEMENT DANGOTE...POLICY
FINANCIAL STATEMENT DANGOTE...POLICYChristian Ibe
Β 
financial ststement ratio analysis
financial ststement ratio analysisfinancial ststement ratio analysis
financial ststement ratio analysisshabir shekh
Β 
Financial Ratio Analysis of Samsung for the year 2013-2014
Financial Ratio Analysis of Samsung for the year 2013-2014Financial Ratio Analysis of Samsung for the year 2013-2014
Financial Ratio Analysis of Samsung for the year 2013-2014Prinson Rodrigues
Β 
Marico presentation final
Marico presentation finalMarico presentation final
Marico presentation finalAmit Trivedi
Β 
Accenture Analysis
Accenture AnalysisAccenture Analysis
Accenture AnalysisSteve Schudin
Β 
ppt on WORKING CAPITAL MANAGEMENT AT Silver Forge Pvt...
ppt on WORKING CAPITAL MANAGEMENT AT Silver Forge Pvt... ppt on WORKING CAPITAL MANAGEMENT AT Silver Forge Pvt...
ppt on WORKING CAPITAL MANAGEMENT AT Silver Forge Pvt...jitharadharmesh
Β 
Ratio analysis
Ratio analysisRatio analysis
Ratio analysisAnu Damodaran
Β 
corporate finance market ratio
corporate finance market ratiocorporate finance market ratio
corporate finance market ratioIzzah Hazirah Azman
Β 
Benchmarking
BenchmarkingBenchmarking
BenchmarkingDomball
Β 
STUDY AND ANALYSIS OF WORKING CAPITAL MANAGEMENT
STUDY AND ANALYSIS OF WORKING CAPITAL MANAGEMENT STUDY AND ANALYSIS OF WORKING CAPITAL MANAGEMENT
STUDY AND ANALYSIS OF WORKING CAPITAL MANAGEMENT sumit12dn
Β 

Similar to Analisis de los ratios financieros (20)

Finance Assignment Ratio Analysis.
Finance Assignment Ratio Analysis. Finance Assignment Ratio Analysis.
Finance Assignment Ratio Analysis.
Β 
BXPHARMA
BXPHARMABXPHARMA
BXPHARMA
Β 
Gull ahmad.pptx
Gull ahmad.pptx Gull ahmad.pptx
Gull ahmad.pptx
Β 
IMPERIAL TOBACCO GROUP PLC
IMPERIAL TOBACCO GROUP PLCIMPERIAL TOBACCO GROUP PLC
IMPERIAL TOBACCO GROUP PLC
Β 
Infosys Ratio Analysis
Infosys Ratio AnalysisInfosys Ratio Analysis
Infosys Ratio Analysis
Β 
Ratio analysis of square texttile
Ratio analysis of square texttile Ratio analysis of square texttile
Ratio analysis of square texttile
Β 
Cargills (Ceylon) PLC & Nestle Lanka PLC financial position and the performa...
Cargills (Ceylon) PLC & Nestle Lanka PLC financial position and the performa...Cargills (Ceylon) PLC & Nestle Lanka PLC financial position and the performa...
Cargills (Ceylon) PLC & Nestle Lanka PLC financial position and the performa...
Β 
Slides
SlidesSlides
Slides
Β 
Nishat Mills Ltd
Nishat Mills LtdNishat Mills Ltd
Nishat Mills Ltd
Β 
Financial Accounting Project
Financial Accounting ProjectFinancial Accounting Project
Financial Accounting Project
Β 
FINANCIAL STATEMENT DANGOTE...POLICY
FINANCIAL STATEMENT DANGOTE...POLICYFINANCIAL STATEMENT DANGOTE...POLICY
FINANCIAL STATEMENT DANGOTE...POLICY
Β 
financial ststement ratio analysis
financial ststement ratio analysisfinancial ststement ratio analysis
financial ststement ratio analysis
Β 
Financial Ratio Analysis of Samsung for the year 2013-2014
Financial Ratio Analysis of Samsung for the year 2013-2014Financial Ratio Analysis of Samsung for the year 2013-2014
Financial Ratio Analysis of Samsung for the year 2013-2014
Β 
Marico presentation final
Marico presentation finalMarico presentation final
Marico presentation final
Β 
Accenture Analysis
Accenture AnalysisAccenture Analysis
Accenture Analysis
Β 
ppt on WORKING CAPITAL MANAGEMENT AT Silver Forge Pvt...
ppt on WORKING CAPITAL MANAGEMENT AT Silver Forge Pvt... ppt on WORKING CAPITAL MANAGEMENT AT Silver Forge Pvt...
ppt on WORKING CAPITAL MANAGEMENT AT Silver Forge Pvt...
Β 
Ratio analysis
Ratio analysisRatio analysis
Ratio analysis
Β 
corporate finance market ratio
corporate finance market ratiocorporate finance market ratio
corporate finance market ratio
Β 
Benchmarking
BenchmarkingBenchmarking
Benchmarking
Β 
STUDY AND ANALYSIS OF WORKING CAPITAL MANAGEMENT
STUDY AND ANALYSIS OF WORKING CAPITAL MANAGEMENT STUDY AND ANALYSIS OF WORKING CAPITAL MANAGEMENT
STUDY AND ANALYSIS OF WORKING CAPITAL MANAGEMENT
Β 

Recently uploaded

The Economic History of the U.S. Lecture 17.pdf
The Economic History of the U.S. Lecture 17.pdfThe Economic History of the U.S. Lecture 17.pdf
The Economic History of the U.S. Lecture 17.pdfGale Pooley
Β 
(ANIKA) Budhwar Peth Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...
(ANIKA) Budhwar Peth Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...(ANIKA) Budhwar Peth Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...
(ANIKA) Budhwar Peth Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...ranjana rawat
Β 
The Economic History of the U.S. Lecture 30.pdf
The Economic History of the U.S. Lecture 30.pdfThe Economic History of the U.S. Lecture 30.pdf
The Economic History of the U.S. Lecture 30.pdfGale Pooley
Β 
Instant Issue Debit Cards - School Designs
Instant Issue Debit Cards - School DesignsInstant Issue Debit Cards - School Designs
Instant Issue Debit Cards - School Designsegoetzinger
Β 
Solution Manual for Financial Accounting, 11th Edition by Robert Libby, Patri...
Solution Manual for Financial Accounting, 11th Edition by Robert Libby, Patri...Solution Manual for Financial Accounting, 11th Edition by Robert Libby, Patri...
Solution Manual for Financial Accounting, 11th Edition by Robert Libby, Patri...ssifa0344
Β 
(DIYA) Bhumkar Chowk Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...
(DIYA) Bhumkar Chowk Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...(DIYA) Bhumkar Chowk Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...
(DIYA) Bhumkar Chowk Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...ranjana rawat
Β 
Pooja 9892124323 : Call Girl in Juhu Escorts Service Free Home Delivery
Pooja 9892124323 : Call Girl in Juhu Escorts Service Free Home DeliveryPooja 9892124323 : Call Girl in Juhu Escorts Service Free Home Delivery
Pooja 9892124323 : Call Girl in Juhu Escorts Service Free Home DeliveryPooja Nehwal
Β 
Andheri Call Girls In 9825968104 Mumbai Hot Models
Andheri Call Girls In 9825968104 Mumbai Hot ModelsAndheri Call Girls In 9825968104 Mumbai Hot Models
Andheri Call Girls In 9825968104 Mumbai Hot Modelshematsharma006
Β 
Call Girls Service Nagpur Maya Call 7001035870 Meet With Nagpur Escorts
Call Girls Service Nagpur Maya Call 7001035870 Meet With Nagpur EscortsCall Girls Service Nagpur Maya Call 7001035870 Meet With Nagpur Escorts
Call Girls Service Nagpur Maya Call 7001035870 Meet With Nagpur Escortsranjana rawat
Β 
High Class Call Girls Nashik Maya 7001305949 Independent Escort Service Nashik
High Class Call Girls Nashik Maya 7001305949 Independent Escort Service NashikHigh Class Call Girls Nashik Maya 7001305949 Independent Escort Service Nashik
High Class Call Girls Nashik Maya 7001305949 Independent Escort Service NashikCall Girls in Nagpur High Profile
Β 
03_Emmanuel Ndiaye_Degroof Petercam.pptx
03_Emmanuel Ndiaye_Degroof Petercam.pptx03_Emmanuel Ndiaye_Degroof Petercam.pptx
03_Emmanuel Ndiaye_Degroof Petercam.pptxFinTech Belgium
Β 
Best VIP Call Girls Noida Sector 18 Call Me: 8448380779
Best VIP Call Girls Noida Sector 18 Call Me: 8448380779Best VIP Call Girls Noida Sector 18 Call Me: 8448380779
Best VIP Call Girls Noida Sector 18 Call Me: 8448380779Delhi Call girls
Β 
20240429 Calibre April 2024 Investor Presentation.pdf
20240429 Calibre April 2024 Investor Presentation.pdf20240429 Calibre April 2024 Investor Presentation.pdf
20240429 Calibre April 2024 Investor Presentation.pdfAdnet Communications
Β 
Q3 2024 Earnings Conference Call and Webcast Slides
Q3 2024 Earnings Conference Call and Webcast SlidesQ3 2024 Earnings Conference Call and Webcast Slides
Q3 2024 Earnings Conference Call and Webcast SlidesMarketing847413
Β 
VVIP Pune Call Girls Katraj (7001035870) Pune Escorts Nearby with Complete Sa...
VVIP Pune Call Girls Katraj (7001035870) Pune Escorts Nearby with Complete Sa...VVIP Pune Call Girls Katraj (7001035870) Pune Escorts Nearby with Complete Sa...
VVIP Pune Call Girls Katraj (7001035870) Pune Escorts Nearby with Complete Sa...Call Girls in Nagpur High Profile
Β 
Log your LOA pain with Pension Lab's brilliant campaign
Log your LOA pain with Pension Lab's brilliant campaignLog your LOA pain with Pension Lab's brilliant campaign
Log your LOA pain with Pension Lab's brilliant campaignHenry Tapper
Β 
Dividend Policy and Dividend Decision Theories.pptx
Dividend Policy and Dividend Decision Theories.pptxDividend Policy and Dividend Decision Theories.pptx
Dividend Policy and Dividend Decision Theories.pptxanshikagoel52
Β 
The Economic History of the U.S. Lecture 18.pdf
The Economic History of the U.S. Lecture 18.pdfThe Economic History of the U.S. Lecture 18.pdf
The Economic History of the U.S. Lecture 18.pdfGale Pooley
Β 
VIP Kolkata Call Girl Jodhpur Park πŸ‘‰ 8250192130 Available With Room
VIP Kolkata Call Girl Jodhpur Park πŸ‘‰ 8250192130 Available With RoomVIP Kolkata Call Girl Jodhpur Park πŸ‘‰ 8250192130 Available With Room
VIP Kolkata Call Girl Jodhpur Park πŸ‘‰ 8250192130 Available With Roomdivyansh0kumar0
Β 

Recently uploaded (20)

The Economic History of the U.S. Lecture 17.pdf
The Economic History of the U.S. Lecture 17.pdfThe Economic History of the U.S. Lecture 17.pdf
The Economic History of the U.S. Lecture 17.pdf
Β 
(ANIKA) Budhwar Peth Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...
(ANIKA) Budhwar Peth Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...(ANIKA) Budhwar Peth Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...
(ANIKA) Budhwar Peth Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...
Β 
The Economic History of the U.S. Lecture 30.pdf
The Economic History of the U.S. Lecture 30.pdfThe Economic History of the U.S. Lecture 30.pdf
The Economic History of the U.S. Lecture 30.pdf
Β 
Instant Issue Debit Cards - School Designs
Instant Issue Debit Cards - School DesignsInstant Issue Debit Cards - School Designs
Instant Issue Debit Cards - School Designs
Β 
Solution Manual for Financial Accounting, 11th Edition by Robert Libby, Patri...
Solution Manual for Financial Accounting, 11th Edition by Robert Libby, Patri...Solution Manual for Financial Accounting, 11th Edition by Robert Libby, Patri...
Solution Manual for Financial Accounting, 11th Edition by Robert Libby, Patri...
Β 
(DIYA) Bhumkar Chowk Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...
(DIYA) Bhumkar Chowk Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...(DIYA) Bhumkar Chowk Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...
(DIYA) Bhumkar Chowk Call Girls Just Call 7001035870 [ Cash on Delivery ] Pun...
Β 
Pooja 9892124323 : Call Girl in Juhu Escorts Service Free Home Delivery
Pooja 9892124323 : Call Girl in Juhu Escorts Service Free Home DeliveryPooja 9892124323 : Call Girl in Juhu Escorts Service Free Home Delivery
Pooja 9892124323 : Call Girl in Juhu Escorts Service Free Home Delivery
Β 
Andheri Call Girls In 9825968104 Mumbai Hot Models
Andheri Call Girls In 9825968104 Mumbai Hot ModelsAndheri Call Girls In 9825968104 Mumbai Hot Models
Andheri Call Girls In 9825968104 Mumbai Hot Models
Β 
Call Girls Service Nagpur Maya Call 7001035870 Meet With Nagpur Escorts
Call Girls Service Nagpur Maya Call 7001035870 Meet With Nagpur EscortsCall Girls Service Nagpur Maya Call 7001035870 Meet With Nagpur Escorts
Call Girls Service Nagpur Maya Call 7001035870 Meet With Nagpur Escorts
Β 
High Class Call Girls Nashik Maya 7001305949 Independent Escort Service Nashik
High Class Call Girls Nashik Maya 7001305949 Independent Escort Service NashikHigh Class Call Girls Nashik Maya 7001305949 Independent Escort Service Nashik
High Class Call Girls Nashik Maya 7001305949 Independent Escort Service Nashik
Β 
03_Emmanuel Ndiaye_Degroof Petercam.pptx
03_Emmanuel Ndiaye_Degroof Petercam.pptx03_Emmanuel Ndiaye_Degroof Petercam.pptx
03_Emmanuel Ndiaye_Degroof Petercam.pptx
Β 
Best VIP Call Girls Noida Sector 18 Call Me: 8448380779
Best VIP Call Girls Noida Sector 18 Call Me: 8448380779Best VIP Call Girls Noida Sector 18 Call Me: 8448380779
Best VIP Call Girls Noida Sector 18 Call Me: 8448380779
Β 
20240429 Calibre April 2024 Investor Presentation.pdf
20240429 Calibre April 2024 Investor Presentation.pdf20240429 Calibre April 2024 Investor Presentation.pdf
20240429 Calibre April 2024 Investor Presentation.pdf
Β 
Q3 2024 Earnings Conference Call and Webcast Slides
Q3 2024 Earnings Conference Call and Webcast SlidesQ3 2024 Earnings Conference Call and Webcast Slides
Q3 2024 Earnings Conference Call and Webcast Slides
Β 
Commercial Bank Economic Capsule - April 2024
Commercial Bank Economic Capsule - April 2024Commercial Bank Economic Capsule - April 2024
Commercial Bank Economic Capsule - April 2024
Β 
VVIP Pune Call Girls Katraj (7001035870) Pune Escorts Nearby with Complete Sa...
VVIP Pune Call Girls Katraj (7001035870) Pune Escorts Nearby with Complete Sa...VVIP Pune Call Girls Katraj (7001035870) Pune Escorts Nearby with Complete Sa...
VVIP Pune Call Girls Katraj (7001035870) Pune Escorts Nearby with Complete Sa...
Β 
Log your LOA pain with Pension Lab's brilliant campaign
Log your LOA pain with Pension Lab's brilliant campaignLog your LOA pain with Pension Lab's brilliant campaign
Log your LOA pain with Pension Lab's brilliant campaign
Β 
Dividend Policy and Dividend Decision Theories.pptx
Dividend Policy and Dividend Decision Theories.pptxDividend Policy and Dividend Decision Theories.pptx
Dividend Policy and Dividend Decision Theories.pptx
Β 
The Economic History of the U.S. Lecture 18.pdf
The Economic History of the U.S. Lecture 18.pdfThe Economic History of the U.S. Lecture 18.pdf
The Economic History of the U.S. Lecture 18.pdf
Β 
VIP Kolkata Call Girl Jodhpur Park πŸ‘‰ 8250192130 Available With Room
VIP Kolkata Call Girl Jodhpur Park πŸ‘‰ 8250192130 Available With RoomVIP Kolkata Call Girl Jodhpur Park πŸ‘‰ 8250192130 Available With Room
VIP Kolkata Call Girl Jodhpur Park πŸ‘‰ 8250192130 Available With Room
Β 

Analisis de los ratios financieros

  • 1. ANALISIS DE LOS RATIOS FINANCIEROS 1. ANALISIS DE LIQUIDEZ 1.1 RATIO DE LIQUIDEZ GENERAL O RAZON CORRIENTE El ratiode liquidezgeneralloobtenemosdividiendoel activocorrienteentre el pasivo corriente.El activocorriente incluye bΓ‘sicamente lascuentasde caja,bancos,cuentasyletras por cobrar, valoresde fΓ‘cil negociaciΓ³ne inventarios.Este ratioeslaprincipal medidade liquidez,muestraque porcentaje de deudasde cortoplazosoncubiertasporelementosde activo,cuya conversiΓ³nendinerocorresponde aproximadamente al vencimientode las deudas. Formula πΏπ‘–π‘žπ‘’π‘–π‘‘π‘’π‘§ πΊπ‘’π‘›π‘’π‘Ÿπ‘Žπ‘™ = π΄π‘π‘‘π‘–π‘£π‘œ πΆπ‘œπ‘Ÿπ‘Ÿπ‘–π‘’π‘›π‘‘π‘’ π‘ƒπ‘Žπ‘ π‘–π‘£π‘œ πΆπ‘œπ‘Ÿπ‘Ÿπ‘–π‘’π‘›π‘‘π‘’ AΓ±o2012 πΏπ‘–π‘žπ‘’π‘–π‘‘π‘’π‘§ πΊπ‘’π‘›π‘’π‘Ÿπ‘Žπ‘™2012 = 2,609,923 1,262,154 = 2.07 AΓ±o2013 πΏπ‘–π‘žπ‘’π‘–π‘‘π‘’π‘§ πΊπ‘’π‘›π‘’π‘Ÿπ‘Žπ‘™2013 = 2,838,177 1,230,991 = 2.31 Esto quiere decirque parael 2013 el activocorriente es2.31 vecesmΓ‘sgrande que el pasivo corriente;oque por cada UM de deuda,laempresacuentaconUM 2.31 para pagarla. Cuanto mayor seael valorserΓ‘ lacapacidad de la empresade pagarsus deudas.Enel 2012 el activo corriente es2.07 vecesmΓ‘sgrande que el pasivocorriente;oque por cada UM de deuda,la empresacuentaconUM 2.07 para pagarla. Cuantomayor seael valorserΓ‘ lacapacidad de la empresade pagar susdeudas. 1.2 RATIO CAPITAL DE TRABAJO Se define comounarelaciΓ³nentre losactivoscorrientesylospasivoscorrientes.El capital de trabajo,eslo que le quedaa la firmadespuΓ©sde pagarsusdeudasinmediatas,esladiferencia entre losactivoscorrientesmenospasivoscorrientes;algoasΓ­como el dineroque le queda para poderoperaren el dΓ­a a dΓ­a. Formula πΆπ‘Žπ‘π‘–π‘‘π‘Žπ‘™ 𝑑𝑒 π‘‡π‘Ÿπ‘Žπ‘π‘Žπ‘—π‘œ = π΄π‘π‘‘π‘–π‘£π‘œ πΆπ‘œπ‘Ÿπ‘Ÿπ‘–π‘’π‘›π‘‘π‘’ βˆ’ π‘ƒπ‘Žπ‘ π‘–π‘£π‘œ πΆπ‘œπ‘Ÿπ‘Ÿπ‘–π‘’π‘›π‘‘π‘’ = π‘ˆπ‘›π‘–π‘‘π‘Žπ‘‘π‘’π‘  π‘€π‘œπ‘›π‘’π‘‘π‘Žπ‘Ÿπ‘–π‘Žπ‘  AΓ±o2012 πΆπ‘Žπ‘π‘–π‘‘π‘Žπ‘™ 𝑑𝑒 π‘‡π‘Ÿπ‘Žπ‘π‘Žπ‘—π‘œ2012 = 2,609,923 βˆ’ 1,262,154 = 𝑆/.1,347,769 AΓ±o2013 πΆπ‘Žπ‘π‘–π‘‘π‘Žπ‘™ 𝑑𝑒 π‘‡π‘Ÿπ‘Žπ‘π‘Žπ‘—π‘œ2013 = 2,838,177 βˆ’ 1,230,991 = 𝑆/.1,607,186 Estas cifrasnos indicanque se cuentacon unabuenacapacidadde maniobraenla gestiΓ³ndel capital de trabajo.
  • 2. 2 INDICE DE GESTIONO ACTIVIDAD Midenla efectividadyeficienciade lagestiΓ³n,enlaadministraciΓ³ndel capital de trabajo, expresanlosefectosde decisionesypolΓ­ticasseguidasporlaempresa,conrespectoala utilizaciΓ³nde sus fondos.Evidenciancomose manejΓ³laempresaenloreferenteacobranzas, ventasal contado,inventariosyventastotales.EstosratiosimplicanunacomparaciΓ³nentre ventasy activosnecesariosparasoportarel nivel de ventasconsiderandoque existe un apropiadovalorde correspondenciaentre estosconceptos. 2.1 ROTACION DE CAJASY BANCOS Dan una ideasobre lamagnitudde la caja y bancospara cubrir dΓ­as de venta.Lo obtenemos multiplicandoel total de cajay bancospor 360 (dΓ­asdel aΓ±o) y dividiendoel productoentre las ventasanuales. Formula π‘…π‘œπ‘‘π‘Žπ‘π‘–π‘œπ‘› 𝑑𝑒 πΆπ‘Žπ‘—π‘Žπ‘  𝑦 π΅π‘Žπ‘›π‘π‘œπ‘  = 𝐢𝐴𝐽𝐴𝑆 𝐡𝐴𝑁𝐢𝑂𝑆 𝑋 360 𝑉𝐸𝑁𝑇𝐴𝑆 AΓ±o2012 π‘…π‘œπ‘‘π‘Žπ‘π‘–π‘œπ‘› 𝑑𝑒 πΆπ‘Žπ‘—π‘Žπ‘  𝑦 π΅π‘Žπ‘›π‘π‘œπ‘ 2012 = 13,505 𝑋 360 3,574,766 = 1.36 = 1 π‘‘π‘–π‘Ž AΓ±o2013 π‘…π‘œπ‘‘π‘Žπ‘π‘–π‘œπ‘› 𝑑𝑒 πΆπ‘Žπ‘—π‘Žπ‘  𝑦 π΅π‘Žπ‘›π‘π‘œπ‘ 2013 = 3,251 𝑋 360 3,696,378 = 0.31 = 0.3 π‘‘π‘–π‘Ž En este rationos muestraque para 2012 la liquidezde cajay bancospermite cubrir1 dΓ­a, mientrasque parael aΓ±o 2013 disminuye significativamenteen 0.3 dΓ­a. 2.2 ROTACION DE ACTIVOSTOTALES Ratioque tiene porobjetivomedirlaactividadenventasde lafirma.O sea,cuantasvecesla empresapuede colocarentre susclientesunvalorigual ala inversiΓ³nrealizada. Para obtenerlodividimoslasventasnetasporel valorde losactivostotales Formula π‘…π‘œπ‘‘π‘Žπ‘π‘–π‘œπ‘› 𝑑𝑒 π΄π‘π‘‘π‘–π‘£π‘œπ‘  π‘‡π‘œπ‘‘π‘Žπ‘™π‘’π‘  = π‘‰π‘’π‘›π‘‘π‘Žπ‘  π΄π‘π‘‘π‘–π‘£π‘œπ‘ π‘‡π‘œπ‘‘π‘Žπ‘™π‘’π‘  AΓ±o2012 π‘…π‘œπ‘‘π‘Žπ‘π‘–π‘œπ‘› 𝑑𝑒 π΄π‘π‘‘π‘–π‘£π‘œπ‘  π‘‡π‘œπ‘‘π‘Žπ‘™π‘’π‘ 2012 = 3,574,766 3,190,872 = 1.12 𝑣𝑒𝑐𝑒𝑠 AΓ±o2013 π‘…π‘œπ‘‘π‘Žπ‘π‘–π‘œπ‘› 𝑑𝑒 π΄π‘π‘‘π‘–π‘£π‘œπ‘  π‘‡π‘œπ‘‘π‘Žπ‘™π‘’π‘ 2012 = 3,696,378 3,414,878 = 1.08 𝑣𝑒𝑐𝑒𝑠
  • 3. Es decir,interpretandoel rationosmuestraque laempresaenel aΓ±o2012 ha colocadoentre sus clientes1.12vecesel valorde la inversiΓ³nefectuada,mientrasque parael aΓ±o 2012 ha disminuidoa1.08 veces. 2.3 ROTACION DE ACTIVOFIJO Esta razΓ³n essimilara laanterior,con el agregadoque mide lacapacidadde la empresade utilizarel capital enactivosfijos.Mide laactividadde ventasde laempresa.Dice,cuantas vecespodemos colocarentre losclientesunvalorigual ala inversiΓ³nrealizadaenactivofijo. Formula π‘…π‘œπ‘‘π‘Žπ‘π‘–π‘œπ‘› 𝑑𝑒 π΄π‘π‘‘π‘–π‘£π‘œπ‘  πΉπ‘–π‘—π‘œπ‘  = π‘‰π‘’π‘›π‘‘π‘Žπ‘  π΄π‘π‘‘π‘–π‘£π‘œπ‘ πΉπ‘–π‘—π‘œπ‘  AΓ±o2012 π‘…π‘œπ‘‘π‘Žπ‘π‘–π‘œπ‘› 𝑑𝑒 π΄π‘π‘‘π‘–π‘£π‘œ πΉπ‘–π‘—π‘œ2012 = 3,574,766 581,262.76 = 6.15 𝑣𝑒𝑐𝑒𝑠 AΓ±o2013 π‘…π‘œπ‘‘π‘Žπ‘π‘–π‘œπ‘› 𝑑𝑒 π΄π‘π‘‘π‘–π‘£π‘œ πΉπ‘–π‘—π‘œ2013 = 3,696,378 576,658.03 = 6.41 𝑣𝑒𝑐𝑒𝑠 Esto quiere decirque enel aΓ±o2012 se ha colocadoen el mercado6.15 vecesel valorde lo invertidoenactivofijo,mientrasque parael 2013 se ha incrementadoen6.41veces. 3 ANALISIS DE SOLVENCIA, ENDEUDAMIENTO O APALANCAMIENTO Estos ratios,muestranlacantidadde recursosque son obtenidosde tercerosparael negocio. Expresanel respaldoque posee laempresafrente asusdeudastotales.Danunaideade la autonomΓ­afinancierade lamisma.Combinanlasdeudasde cortoy largoplazo. Permitenconocerque tanestable oconsolidadaeslaempresaentΓ©rminosde composiciΓ³nde lospasivosysu pesorelativoconel capital y el patrimonio. 3.1 ESTRUCTURA DE CAPITAL (DEUDA - PATRIMONIO) Es el cociente que muestrael gradode endeudamientoconrelaciΓ³nal patrimonio.Este ratio evalΓΊael impactodel pasivototal conrelaciΓ³nal patrimonio Formula πΈπ‘ π‘‘π‘Ÿπ‘’π‘π‘‘π‘’π‘Ÿπ‘Ž 𝑑𝑒 πΆπ‘Žπ‘π‘–π‘‘π‘Žπ‘™ = π‘ƒπ‘Žπ‘ π‘–π‘£π‘œ π‘‡π‘œπ‘‘π‘Žπ‘™ π‘ƒπ‘Žπ‘‘π‘Ÿπ‘–π‘šπ‘œπ‘›π‘–π‘œ AΓ±o2012 πΈπ‘ π‘‘π‘Ÿπ‘’π‘π‘‘π‘’π‘Ÿπ‘Ž 𝑑𝑒 πΆπ‘Žπ‘π‘–π‘‘π‘Žπ‘™2012 = 1,262,154 1,928,718 = 65%
  • 4. AΓ±o2013 πΈπ‘ π‘‘π‘Ÿπ‘’π‘π‘‘π‘’π‘Ÿπ‘Ž 𝑑𝑒 πΆπ‘Žπ‘π‘–π‘‘π‘Žπ‘™2013 = 1,230,991 2,183,887 = 56% Esto quiere decir,que porcada unidadmonetariaaportadaporlosdueΓ±os,hayun0.65 centavoso el 65% para el aΓ±o2012; mientrasque para el aΓ±o 2013 bajoa 0.56 centavoso56% portadopor losacreedores. 3.2 ENDEUDAMIENTO Representael porcentajede fondosde participaciΓ³nde losacreedores,yaseaenel corto o largoplazo, enlos activos.Eneste caso, el objetivoesmedirel nivelglobal de endeudamiento o proporciΓ³nde fondosaportadosporlosacreedores. Formula π‘…π‘Žπ‘§π‘œπ‘› 𝑑𝑒 πΈπ‘›π‘‘π‘’π‘’π‘‘π‘Žπ‘šπ‘–π‘’π‘›π‘‘π‘œ = π‘ƒπ‘Žπ‘ π‘–π‘£π‘œ π‘‡π‘œπ‘‘π‘Žπ‘™ π΄π‘π‘‘π‘–π‘£π‘œ π‘‡π‘œπ‘‘π‘Žπ‘™ AΓ±o2012 π‘…π‘Žπ‘§π‘œπ‘› 𝑑𝑒 πΈπ‘›π‘‘π‘’π‘’π‘‘π‘Žπ‘šπ‘–π‘’π‘›π‘‘π‘œ2012 = 1,262,154 3,190,872 = 40% AΓ±o2013 π‘…π‘Žπ‘§π‘œπ‘› 𝑑𝑒 πΈπ‘›π‘‘π‘’π‘’π‘‘π‘Žπ‘šπ‘–π‘’π‘›π‘‘π‘œ2013 = 1,230,991 3,414,878 = 36% Es decirque en laempresapara el aΓ±o 2012 el 40% de losactivostotalesesfinanciadoporlos acreedoresypara el 2013 losactivostotalessonfinanciadosenun36%. 4 ANALISIS DE RENTABILIDAD Mide la capacidadde generaciΓ³nde utilidadesporparte de laempresa.Tienenporobjetivo apreciarel resultadonetoobtenidoapartirde ciertasdecisionesypolΓ­ticasenla administraciΓ³nde losfondosde laempresa. 4.1 RENDIMIENTO SOBRE PATRIMONIO Esta razΓ³n loobtenemosdividiendolautilidadnetaentre el patrimonionetode laempresa. Mide la rentabilidadde losfondosaportadosporel inversionista. Formula π‘…π‘’π‘›π‘‘π‘–π‘šπ‘–π‘’π‘›π‘‘π‘œ π‘ π‘œπ‘π‘Ÿπ‘’ 𝑒𝑙 π‘ƒπ‘Žπ‘‘π‘Ÿπ‘–π‘šπ‘œπ‘›π‘–π‘œ = π‘ˆπ‘‘π‘–π‘™π‘–π‘‘π‘Žπ‘‘ π‘π‘’π‘‘π‘Ž π‘ƒπ‘Žπ‘‘π‘Ÿπ‘–π‘šπ‘œπ‘›π‘–π‘œ AΓ±o2012 π‘…π‘’π‘›π‘‘π‘–π‘šπ‘–π‘’π‘›π‘‘π‘œπ‘ π‘œπ‘π‘Ÿπ‘’ 𝑒𝑙 π‘ƒπ‘Žπ‘‘π‘Ÿπ‘–π‘šπ‘œπ‘›π‘–π‘œ2012 = 155,318 1,928,718 = 8%
  • 5. AΓ±o2013 π‘…π‘’π‘›π‘‘π‘–π‘šπ‘–π‘’π‘›π‘‘π‘œπ‘ π‘œπ‘π‘Ÿπ‘’ 𝑒𝑙 π‘ƒπ‘Žπ‘‘π‘Ÿπ‘–π‘šπ‘œπ‘›π‘–π‘œ2013 = 255,170 2,183,887 = 12% Esto significaque porcada unidadmonetariaque el dueΓ±omantieneenel aΓ±o2012 generaun rendimientodel 8%sobre el patrimonioyenel aΓ±o2013 generaunrendimientodel12% 4.2 RENDIMIENTO SOBRE LA INVERSION Es una medidade larentabilidaddel negociocomoproyectoindependiente de losaccionistas. Formula π‘…π‘’π‘›π‘‘π‘–π‘šπ‘–π‘’π‘›π‘‘π‘œ π‘ π‘œπ‘π‘Ÿπ‘’ π‘™π‘Ž πΌπ‘›π‘£π‘’π‘Ÿπ‘ π‘–π‘œπ‘› = π‘ˆπ‘‘π‘–π‘™π‘–π‘‘π‘Žπ‘‘ π‘π‘’π‘‘π‘Ž π΄π‘π‘‘π‘–π‘£π‘œ π‘‡π‘œπ‘‘π‘Žπ‘™ AΓ±o2012 π‘…π‘’π‘›π‘‘π‘–π‘šπ‘–π‘’π‘›π‘‘π‘œπ‘ π‘œπ‘π‘Ÿπ‘’ π‘™π‘Ž πΌπ‘›π‘£π‘’π‘Ÿπ‘ π‘–π‘œπ‘›2012 = 155,318 3,190,872 = 5% AΓ±o2013 π‘…π‘’π‘›π‘‘π‘–π‘šπ‘–π‘’π‘›π‘‘π‘œπ‘ π‘œπ‘π‘Ÿπ‘’ π‘™π‘Ž πΌπ‘›π‘£π‘’π‘Ÿπ‘ π‘–π‘œπ‘›2013 = 255,170 3,414,878 = 7% Quiere decir,que cadaunidadmonetariaenel aΓ±o2012 enlosactivosprodujoese aΓ±oun rendimientode 5%sobre lainversiΓ³n,mientrasque parael 2013 aumentoel rendimientoaun 7% 4.3 MARGENBRUTO Este ratio indicalacantidadque se obtiene de utilidadporcadaunidadmonetariade ventas, despuΓ©sde que laempresahacubiertoel costode losbienesque produce y/ovende. Formula π‘€π‘Žπ‘Ÿπ‘”π‘’π‘› 𝑑𝑒 π‘ˆπ‘‘π‘–π‘™π‘–π‘‘π‘Žπ‘‘ π΅π‘Ÿπ‘’π‘‘π‘Ž = π‘‰π‘’π‘›π‘‘π‘Žπ‘  βˆ’ πΆπ‘œπ‘ π‘‘π‘œπ‘ π‘‘π‘’ π‘‰π‘’π‘›π‘‘π‘Žπ‘  π‘‰π‘’π‘›π‘‘π‘Žπ‘  AΓ±o2012 π‘€π‘Žπ‘Ÿπ‘”π‘’π‘› 𝑑𝑒 π‘ˆπ‘‘π‘–π‘™π‘–π‘‘π‘Žπ‘‘ π΅π‘Ÿπ‘’π‘‘π‘Ž2012 = 3,574,766 βˆ’ 2,782,086 3,574,766 = 22% AΓ±o2013 π‘€π‘Žπ‘Ÿπ‘”π‘’π‘› 𝑑𝑒 π‘ˆπ‘‘π‘–π‘™π‘–π‘‘π‘Žπ‘‘ π΅π‘Ÿπ‘’π‘‘π‘Ž2013 = 3,696,378 βˆ’ 2,441,246 3,696,378 = 34% Esto nosdice que el margende utilidadbrutaenel 2012 fue de un22% mientrasque enel aΓ±o 2013 aumentoa 34%, estole conviene ala empresapuestoque cuandomasgrande seael margenbruto de utilidad,serΓ‘mejor,puessignifica que tieneunbajocostode las mercancΓ­as que vende.
  • 6. 4.4 MARGENNETO RentabilidadmΓ‘sespecΓ­ficaque el anterior.Relacionalautilidadliquidaconel nivel de las ventasnetas.Mide el porcentaje de cadaunidadmonetariade ventasque quedadespuΓ©sde que todoslosgastos,incluyendolosimpuestos,hansidodeducidos. Formula π‘€π‘Žπ‘Ÿπ‘”π‘’π‘› π‘π‘’π‘‘π‘œ 𝑑𝑒 π‘ˆπ‘‘π‘–π‘™π‘–π‘‘π‘Žπ‘‘ = π‘ˆπ‘‘π‘–π‘™π‘–π‘‘π‘Žπ‘‘ π‘π‘’π‘‘π‘Ž π‘‰π‘’π‘›π‘‘π‘Žπ‘  AΓ±o2012 π‘€π‘Žπ‘Ÿπ‘”π‘’π‘› π‘π‘’π‘‘π‘œ 𝑑𝑒 π‘ˆπ‘‘π‘–π‘™π‘–π‘‘π‘Žπ‘‘2012 = 155,318 3,574,766 = 4% AΓ±o2013 π‘€π‘Žπ‘Ÿπ‘”π‘’π‘› π‘π‘’π‘‘π‘œ 𝑑𝑒 π‘ˆπ‘‘π‘–π‘™π‘–π‘‘π‘Žπ‘‘2013 = 255,170 3,696,378 = 7 % Esto quiere decirque enel 2012 por cada unidadmonetariaque vendiolaempresa,obtuvo una utilidadde 4% y para el 2013 fue del 7%.