Использование модифицированной формулы Дюпона при факторном анализе влияния нематериальных активов на рентабельность собственного капитала

Abstract

The classic Dupont model allows you to evaluate the impact on return on equity of factors such as return on sales; asset turnover and financial leverage. Factor analysis based on the classic Dupont model allows us to determine ways to maximize the profitability of capital invested in the company by owners and shareholders. This study discusses the specifics of using the modified Dupont model, which also allows you to highlight the effect on the use of intangible assets on equity return. A modified Dupont model allows an analysis of the impact of intangible assets on equity return. This is a four-component model that includes the following factors: return on sales; turnover of intangible assets; intangible assets to total assets ratio; financial leverage. Factors that, according to the results of factor analysis, have a negative impact on the return on equity, can be considered as sources of reserve for increasing this indicator.