operating leverage

简明释义

营业杠杆作用

英英释义

例句

1.During economic downturns, firms with high operating leverage may struggle more than those with lower leverage.

在经济衰退期间，拥有高经营杠杆的公司可能比低杠杆公司更难应对。

2.A company with high operating leverage can significantly increase its profits with a small increase in sales.

拥有高经营杠杆的公司可以通过小幅销售增长显著提高利润。

3.Understanding operating leverage is crucial for assessing the risk associated with new investments.

理解经营杠杆对于评估新投资相关风险至关重要。

4.A business model that relies on high operating leverage can lead to greater volatility in earnings.

依赖高经营杠杆的商业模式可能导致收益波动性加大。

5.The tech startup utilized operating leverage by minimizing fixed costs while maximizing variable costs.

这家科技初创公司通过最小化固定成本而最大化可变成本来利用经营杠杆。

作文

In the world of finance and business, understanding the concept of operating leverage is crucial for making informed decisions. Operating leverage refers to the degree to which a company can increase its profits by increasing sales. It is a measure of how much fixed costs contribute to the overall cost structure of a business. Companies with high operating leverage have a larger proportion of fixed costs in their cost structure, meaning that once they cover their fixed costs, any additional sales lead to a significant increase in profit. Conversely, companies with low operating leverage tend to have more variable costs, which means their profit margins are less sensitive to changes in sales volume.To illustrate this concept, consider two companies in the same industry: Company A has high operating leverage, while Company B has low operating leverage. Company A invests heavily in fixed assets such as machinery and buildings, leading to high fixed costs. When sales increase, the additional revenue primarily contributes to profit since most of the costs have already been accounted for. For example, if Company A sells 1,000 units at a profit of $10 per unit, its total profit would be $10,000. However, if sales increase to 1,200 units, the profit could rise significantly, say to $14,000, due to the minimal increase in variable costs.On the other hand, Company B, with low operating leverage, has a cost structure dominated by variable costs. If it sells 1,000 units at the same profit margin of $10 per unit, its profit would also be $10,000. But if sales increase to 1,200 units, the profit may only rise to $12,000 because the variable costs associated with each additional unit sold limit the profit increase.Understanding operating leverage is essential for businesses when planning their financial strategies. High operating leverage can be advantageous in a growing market, as it allows companies to maximize profits during periods of increased sales. However, it also poses risks; if sales decline, companies with high operating leverage may suffer significant losses due to their inability to quickly adjust fixed costs. In contrast, companies with low operating leverage may have more stability during economic downturns, as their profits are less volatile and they can more easily manage costs.Investors also pay close attention to operating leverage when evaluating potential investments. A company with high operating leverage may offer higher returns during growth phases, but it also carries greater risk. Therefore, investors need to assess the market conditions and the company’s ability to manage its fixed costs effectively.In conclusion, operating leverage is a vital concept in finance that impacts both business operations and investment decisions. By understanding the implications of operating leverage, companies can better strategize their growth plans, while investors can make more informed choices about where to allocate their resources. Ultimately, the balance between risk and reward is what makes operating leverage an essential consideration in the business landscape.

在金融和商业的世界中，理解“经营杠杆”概念对于做出明智的决策至关重要。“经营杠杆”指的是公司通过增加销售来提高利润的能力。它是衡量固定成本在企业整体成本结构中所占比例的一个指标。拥有高“经营杠杆”的公司在其成本结构中固定成本占比较大，这意味着一旦覆盖了固定成本，任何额外的销售都会导致利润显著增加。相反，拥有低“经营杠杆”的公司则倾向于拥有更多的可变成本，这意味着它们的利润率对销售量的变化不太敏感。为了说明这一概念，我们考虑两个处于同一行业的公司：公司A具有高“经营杠杆”，而公司B具有低“经营杠杆”。公司A在固定资产（如机械和建筑）上的投资很大，从而导致固定成本高。当销售增加时，额外的收入主要转化为利润，因为大部分成本已经被计算在内。例如，如果公司A以每单位10美元的利润出售1000个单位，其总利润将为10,000美元。然而，如果销售增加到1200个单位，利润可能会显著上升，例如达到14,000美元，因为可变成本的增加很小。另一方面，具有低“经营杠杆”的公司B，其成本结构主要由可变成本主导。如果它以每单位10美元的利润出售1000个单位，其利润也将为10,000美元。但是，如果销售增加到1200个单位，利润可能仅增加到12,000美元，因为与每个额外单位销售相关的可变成本限制了利润的增长。理解“经营杠杆”对于企业规划财务战略至关重要。在增长市场中，高“经营杠杆”可以带来优势，因为它使公司能够在销售增加时最大化利润。然而，它也带来了风险；如果销售下降，具有高“经营杠杆”的公司可能因为无法快速调整固定成本而遭受重大损失。相反，具有低“经营杠杆”的公司在经济下行期间可能更具稳定性，因为它们的利润波动较小，可以更容易地管理成本。投资者在评估潜在投资时也非常关注“经营杠杆”。具有高“经营杠杆”的公司在增长阶段可能提供更高的回报，但也承担更大的风险。因此，投资者需要评估市场条件以及公司有效管理固定成本的能力。总之，“经营杠杆”是金融领域的一个重要概念，影响着企业运营和投资决策。通过理解“经营杠杆”的含义，公司可以更好地制定增长计划，而投资者可以在资源分配时做出更明智的选择。最终，风险与回报之间的平衡使得“经营杠杆”成为商业环境中一个重要的考量因素。