Profitability calculation

The profitability calculation (also profitability comparison calculation ) as a static method of the investment calculation supplements the profit comparison calculation with the capital employed . The capital employed at the beginning of the investment can be used as a reference value (without depreciation ). More typical, however, is the calculation using the average capital employed (with depreciation). The profitability calculation is as profitability comparison, return method or return on investment referred.

The net profit is to be understood here as the average profit caused by the investment, therefore imputed interest may not be included in the profit statement. Otherwise, the result would not be the average annual interest rate, but only the interest rate that exceeds the imputed interest rate.

The average capital tied up results (in the case of fixed assets ) by halving the sum of the initial investment and the residual value (see also cost comparison calculation ).

invoice

Depending on the analysis, one looks at the profitability of the capital employed, the funds employed or e.g. B. Capital employed ( cost of ownership ). General profitability:

${\displaystyle {\text{Rentabilität}}={\frac {\text{Nettogewinn}}{\text{durchschnittliches gebundenes Kapital}}}}$

The profitability differs if it is viewed over time, in different periods (e.g. within a fiscal year or in different planning periods):

${\displaystyle {\text{Rentabilität}}={\frac {\text{durchschnittlicher Periodengewinn}}{\text{durchschnittliches gebundenes Kapital}}}}$

criticism

• The absolute amount of profit is neglected.
• Risky investments are preferred.
• Problem with different capital expenditure.
• Problem with different usage times.
• Problem difficult quantifiable factors ( Image , customer satisfaction , employee satisfaction , quality to have, etc.) in the calculation flow.

literature

• Hans Blohm: Investment . 8th, updated and supplemented edition. Verlag Franz Vahlen, Munich 1995.
• Christian Braunschweig: Investment calculation . Oldenbourg Verlag Munich / Vienna 1998.
• Klaus-Dieter Däumler: Basics of the investment and profitability calculation . 10th edition. Verlag Neue Wirtschafts-Briefe, Herne / Berlin 2000.
• Uwe Götze, Jürgen Bloech: Investment calculation . 3rd edition. Springer Verlag, Berlin a. a. 2002.
• Gerhard Mensch: Investments . 1st edition Oldenbourg Wissenschaftsverlag, Munich 2002.
• Klaus Olfert: Investments . 9th, reviewed and updated edition. Friedrich Kiehl Verlag GmbH, Ludwigshafen 2003.
• Gerd Schulte: Investments . Verlag Kohlhammer, Stuttgart 1999.