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분야
ppt1. ROE
2. Working capital management & Short term liquidity
3. Investor ratio
Section B
1. Which one did better?
2. Which one will you choose in investor’s view
3. Which one will you proved a loan?
The reason Bayer made the best ROE in 2007 is that it earned the highest profit in 2007.
With the same reason as Bayer, Pfizer made the highest ROE in 20006. But its profit was decreased in 2007 sharply , so the ROE was lowest in that year.
Through the Efficiency, we can know that the sales of Pfizer and Bayer had small changes for three years.
We can guess that the structure of Bayer's asset was improved steadily and the structure of Pfizer’s asset was worse in 2007 and in 2008 than in 2006.
.
.
Profitability ; Bayer < Pfizer
⇒ Pfizer could cover either higher expenses or lower revenues more effectively
2) Efficiency ; Bayer > Pfizer
⇒ Bayer can be compensated for by its high efficiency
3) Leverage ; Bayer> Pfizer
⇒ Pfizer has been keeping strong financial structure
4) ROE ; Bayer < Pfizer
⇒ the change of profitability reflects ROE
