单选题
A firm has a dividend payout ratio of 30%, a net profit margin of 15%, an asset turnover of 1.4 times, and a financial leverage multiplier of 1.8 times. The firm"s sustainable growth rate is closest to:
A、
8.2%
B、
18.7%
C、
26.5%
【正确答案】
C
【答案解析】
[解析] 自留率(RR)=1-股息支付率=1-30%=70%
权益回报率(ROE)=净利润率×资产周转率×财务杠杆乘数=15%×1.4×1.8=37.8%
可持续增长(g)=自留率(RR)×权益回报率(ROE)=70%×37.8%=26.5%
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