注解 - 負債比例 ( Term - Debt ratio )

負債比例

負債比例＝負債總額／資產總額
　負債比例為負債總額與資產總額的比率關係，是衡量一家公司資本結構的重要指標。公司資本的來源，不外乎由股東出資或是盈餘轉投資或是由公司對外作長期舉債而得到。以舉債的方式籌資至少有二項重要的好處，第一便是以舉債籌資具有發揮財務槓桿的功能，主要是因為當擴大投資的部分的報酬率若仍較利率高時，則擴大投資的利得將增加，有助提高投資報酬；第二個好處便是由於利息費用可以抵稅，因此也有稅務上的優點。但其缺點則是當舉債過高時，由於槓桿因素也將使風險提高，若同時發生營運不若預期時甚至有倒閉的風險。因此由負債比率可大致看出一家公司的體質是否健全，並在選股時能及早過濾掉有潛在財務危機的地雷股。


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Debt ratio

Debt ratio = total liabilities / total assets
The ratio of total liabilities as a liability and the relationship between the ratio of total assets, is a measure of a company an important indicator of capital structure. Source of capital, financed either by shareholders or investment earnings or by the company to make long-term external debt be. Approach to debt financing for at least two important benefits of debt financing for the first is to exert financial leverage with the function, mainly because part of the expansion of investment returns if interest rates are still high, while the expansion of investment profits will be increased to help improve return on investment; the second is because of the benefits of interest can be tax deductible and, therefore, there is the tax advantage. But its disadvantage is the time when the debt is too high, because of the leverage risk factors will improve, if the same time when the operation is not expected even if there is the risk of collapse. So by the debt ratio can be broadly seen whether a company's physical integrity and in stock as soon as possible to filter out when the financial crisis has the potential mine shares.