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13 Cards in this Set
- Front
- Back
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ROE |
Operating return (RNOA) + Nonoperating return |
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Return On Net Operating Assets (RNOA) |
Net operating profit after tax (NOPAT) ÷ Average net operating assets |
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Average Net Operating Assets (NOA) |
(NOA Beg of year + NOA End of year) ÷ 2 |
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Net operating Assets (NOA) |
Operating Assets - Operating Liabilities |
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Net Operating Profit After Taxes (NOPAT) |
Net Operating profit before tax (NOPBT) - Tax on operating profit |
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Net Operating Profit before tax (NOPBT) |
Sales- operating expenses |
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Tax on operating Profit |
Tax expense + (pretax net nonoperating expense × Statutory tax rate) |
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Tax shield |
Pretax net nonoperating expenses x statutory tax rate |
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Return on Net Operating Profits (RNOA) |
NOPAT ÷ NOA |
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Disaggregation of RNOA |
Net Operating profit Margin × Net Operating Asset turnover |
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Net operating profit margin (NOPM) |
NOPAT ÷ Sales |
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Net Operating Asset Turnover |
Sales ÷ Average NOA |
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Net Nonoperating Profit (NNE) |
Nonoperating Expense - Tax Shield |
