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Dupont Model




Formulas

Return on equity = Operating profits after taxes/Equity

Leverage Multiplier = Assets/Equity

Return on Assets = Operating profits after taxes/Assets

Asset utilization = Revenue/Assets

Net Margin (After tax) = Operating profit after tax/Revenues



Definitions

ROE – Tells how much has been earned on the book value of ordinary shareholders’investment in the ADI

ROA – Is operating profit after tax divided by the total assets, and should reflect managements’ ability to use financial and real resources to generate revenue.

Leverage Multiplier – Is calculated by diving assets by equity.

Asset Utilization – Reflects how effectively management has invested in earning assets by calculating the overall yields earned on the assets.

Net Margin –Represents what is left out of one dollar’s revenue after all costs have been deducted.