權(quán)益凈利率=凈經(jīng)營(yíng)資產(chǎn)凈利率+杠桿貢獻(xiàn)率這個(gè)公式是怎么推導(dǎo)出來(lái)的？

您好，同學(xué)，推導(dǎo)過(guò)程如下：權(quán)益凈利率＝凈利潤(rùn)/股東權(quán)益 ＝（稅后經(jīng)營(yíng)利潤(rùn)－稅后利息)/股東權(quán)益＝（稅后經(jīng)營(yíng)凈利潤(rùn)/凈經(jīng)營(yíng)資產(chǎn)）×（凈經(jīng)營(yíng)資產(chǎn)/股東權(quán)益）－（稅后利息/凈負(fù)債）×（凈負(fù)債/股東權(quán)益）＝稅后經(jīng)營(yíng)資產(chǎn)凈利率×[(股東權(quán)益＋凈負(fù)債）/股東權(quán)益）－稅后利息率×凈財(cái)務(wù)杠桿＝稅后經(jīng)營(yíng)資產(chǎn)凈利率＋（稅后經(jīng)營(yíng)資產(chǎn)凈利率－稅后利息率）×凈財(cái)務(wù)杠桿＝稅后經(jīng)營(yíng)利潤(rùn)率×凈經(jīng)營(yíng)資產(chǎn)周轉(zhuǎn)次數(shù)＋經(jīng)營(yíng)差異率×凈財(cái)務(wù)杠桿＝凈經(jīng)營(yíng)資產(chǎn)凈利率＋杠桿貢獻(xiàn)率