Shadowing-Übung: DuPont analysis explained - Englisch Sprechen Lernen mit Video
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Return on Equity, ROA Return on Assets, ROS Return on Sales.
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This video takes you through the financial ratios of the ROE formula, the ROA formula, the ROS formula, asset turnover and leverage, and shows how they fit together.
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The very basics and the very essence of financial ratio analysis.
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The beauty of financial ratios is that they link together information from two of the three main financial statements, the income statement or profit and loss statement, and the balance sheet.
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This gives you a more holistic view of a company's performance than merely looking at one financial statement in isolation.
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ROE, or Return on Equity, is defined as net income divided by equity.
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In other words, the net profit that the company has generated during a year, divided by the book value of the shareholder capital invested in the company.
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ROE is a measure of the rate of return to shareholders.
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For return on equity, at first sight you would say, the higher this ratio is, the better.
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The return on equity financial ratio becomes more meaningful when you dive into its drivers.
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What made the ROE go up or down versus prior year, if you look at the same company?
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Why is the ROE for two companies in different industries, or even in the same industry, different?
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This is where financial analysts owe a big thank you to the DuPont Corporation, for coming up with the idea of breaking ROE into three distinct elements.
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Let me walk you through these elements, ROS, Asset Turnover and Leverage, shortly.
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But first a trivia question.
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In which period did the DuPont Corporation start using the DuPont analysis?
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Was it the 1890s, the 1920s, the 1950s, or 1980s?
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When you are logged into YouTube and are watching this video from a computer, then please click the voting card on the top right to submit your vote.
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I will explain you first what the DuPont formula is, and then share the answer to the quiz question towards the end of the video.
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Here's the three-part version of the DuPont analysis.
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Mathematically, this split makes little sense, as you are multiplying fraction bars where the denominator in one of the fractions is the numerator in another fraction,
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hence they will cancel each other out when multiplied.
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For financial analysis, to split into three pieces makes a lot of sense.
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The first element, ROS or Return on Sales, is Net Income divided by Sales, which is an indicator of the relative profitability or operating efficiency.
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How many cents of profit are generated for every dollar of sales?
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The higher the ROS, the better.
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The second element is Asset Turnover, calculated as Sales divided by Assets, a measure of asset use efficiency.
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Can we maximize the amount of sales we generate with the assets that we have?
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A solid control of working capital is key here to decrease the denominator of assets.
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What are the terms you negotiate with your customers?
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Are you getting your customers to pay on time?
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Is your manufacturing and supply chain operation efficient, so the amount of inventory or stock along the way is minimized?
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All of those help to minimize the denominator.
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The first two elements together, ROS multiplied by Asset Turnover, form ROA .
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This ratio of ROA has many variations.
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Some companies measure ROIC , ROTC , ROCE or RONOA .
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These are all variations on the same theme.
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You look at the returns generated during a period, and compare them to the capital invested in the company to generate those returns.
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ROA is an indicator of business success, influenced by two factors, ROS or Margin Performance,
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and Asset Turnover, which you could call speed or velocity.
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The last element of the DuPont three-part equation is leverage, assets divided by equity.
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Whether they should be high or low is a much discussed question among business people, finance people, and academics, and I don't think there is a definitive answer.
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On the one side, if you can borrow money, take on debt, at low interest rates, and put this money to productive use, you could grow the company faster, and generate higher returns.
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On the other side, if debt is very high compared to the equity in the company, you could increase the risk profile, and decrease your buffer against bankruptcy.
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We have seen plenty of examples of companies that were too highly leveraged, going under in various financial crises over the years.
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Alright, that's the most commonly known three-step version of the DuPont formula.
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Are you ready for some more excitement?
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You can expand the DuPont formula to five steps if you want even more analytical insight
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into the drivers of where your ROE increase or decrease is coming from.
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The two elements on the right stay the same, asset turnover and leverage.
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However, ROS gets split into three elements.
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Net income divided by earnings before tax, which is called tax burden, earnings before tax divided by EBIT,
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called interest burden, and EBIT divided by sales, which is EBIT percentage.
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In a lot of companies, improving the EBIT percentage and increasing the asset turnover are important targets for the management team, whereas the other elements are for the finance,
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treasury and tax departments to manage.
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To close the loop on the DuPont formula, the answer to the trivia question is that this financial ratio analysis method came into use in the 1920s.
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It is still in ubiquitous use, and it can help you to understand the drivers of performance for your company.
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So thank you very much to Donaldson Brown of the DuPont Corporation!
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On the Finance Storyteller YouTube channel, you can find lots of well-researched videos explaining business, finance and accounting topics.
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Wortschatz und Sprechhinweise zu dieser Lektion
Diese Sprechübung auf Niveau C1 basiert auf dem Video „DuPont analysis explained“. Diese Wörter kommen am häufigsten vor: asset, return, Dupont, financial, element. Dieses Video enthält 62 Sätze und 996 Wörter zum Nachsprechen. Der gesprochene Teil dauert 6:15. Der Sprecher spricht in natürlichem Tempo, etwa 160 Wörter pro Minute, ähnlich wie im Alltagsgespräch. Nur 78 % der Wörter gehören zu den 3.000 häufigsten im Englischen, der Wortschatz ist also anspruchsvoll. 10 der 62 Sätze sind Fragen – gut, um Frageintonation und kurze Antworten zu üben.
Wichtiger Wortschatz in diesem Video
Die 15 anspruchsvollsten Wörter aus dem Video, mit Aussprache und Bedeutung:
| Wort | Aussprache | Bedeutung |
|---|---|---|
| turnover Substantiv | /ˈtɝnoʊvɚ/ | Umsatz |
| leverage Substantiv | /ˈlɛv.(ə.)ɹɪd͡ʒ/ | Hebelwirkung, Hebel |
| denominator Substantiv | /dɪˈnɒmɪneɪtə(ɹ)/ | Nenner |
| multiply Verb | /ˈmʌltɪplaɪ/ | vermehren |
| fraction Substantiv | /ˈfɹæk.ʃən/ | Bruchteil |
| trivia Substantiv | /ˈtɹɪvi.ə/ | Trivia, Varia |
| shareholder Substantiv | /ˈʃɛəˌhəʊl.də(ɹ)/ | Aktionär, Aktionärin |
| minimize Verb | /ˈmɪn.ɪˌmaɪz/ | minimieren |
| indicator Substantiv | /ˈɪn.dɪˌkeɪ.tə(ɹ)/ | Indikator, Anzeige |
| subscribe Verb | /səbˈskɹaɪb/ | abonnieren |
| variation Substantiv | /ˌvɛəɹiˈeɪʃn̩/ | Umbildung, Veränderung |
| holistic Adjektiv | /hoʊˈlɪs.tɪk/ | holistisch |
| mathematically Adverb | mathematisch | |
| numerator Substantiv | /ˈnuː.məɹˌeɪ̯.təɹ/ | Zähler |
| profitability Substantiv | /ˌpɹɑ.fɪ.təˈbɪl.ɪ.ti/ | Rentabilität |
Phrasal Verbs, die du hören wirst
| Wort | Bedeutung |
|---|---|
| come up with Verb | ausdenken |
| go under Verb | untergehen |
| go up Verb | hinaufgehen, steigen |
Sätze zum Wiederholen
Kurze, vollständige Sätze aus dem Video, die du im Alltag wiederverwenden kannst:
- What are the terms you negotiate with your customers?
- Are you getting your customers to pay on time?
- Are you ready for some more excitement?
Grammatik in diesem Video
Die Strukturen, die der Sprecher am häufigsten verwendet, mit den genauen Worten aus dem Video:
| Struktur | Im Video |
|---|---|
| Passiv be + Partizip Perfekt – wichtig ist, was geschieht, nicht wer es tut | is defined · are logged · are generated |
| Relativsätze who / which + Satz – eine Zusatzinformation über eine Person oder Sache | Sales, which is · tax, which is |
| Present Perfect have/has + Partizip Perfekt – eine vergangene Handlung, die jetzt noch wichtig ist | has generated · have seen |
Aussprache, auf die du achten solltest
- Die Laute „sh“ und „zh“: fraction /ˈfɹæk.ʃən/, shareholder /ˈʃɛəˌhəʊl.də(ɹ)/, variation /ˌvɛəɹiˈeɪʃn̩/, negotiate /nəˈɡəʊ.ʃi.eɪt/, isolation /ˌaɪsəˈleɪʃən/
- Lange Wörter – auf die Betonung achten: denominator /dɪˈnɒmɪneɪtə(ɹ)/, indicator /ˈɪn.dɪˌkeɪ.tə(ɹ)/, numerator /ˈnuː.məɹˌeɪ̯.təɹ/, profitability /ˌpɹɑ.fɪ.təˈbɪl.ɪ.ti/, ubiquitous /juːˈbɪkwɪtəs/
Laute, die Deutschsprachigen schwerfallen:
- /w/ — mit runden Lippen, nicht wie das deutsche „w“ (/v/): ubiquitous /juːˈbɪkwɪtəs/, quiz /kwɪz/, equation /ɪˈkweɪ.ʒən/
- Stimmhafter Auslaut — /b/, /d/, /g/, /z/, /v/ am Wortende nicht verhärten: leverage /ˈlɛv.(ə.)ɹɪd͡ʒ/, minimize /ˈmɪn.ɪˌmaɪz/, subscribe /səbˈskɹaɪb/, maximize /ˈmæksəmaɪz/, definitive /dɪˈfɪn.ɪ.tɪv/
- /æ/ — offener als „ä“: fraction /ˈfɹæk.ʃən/, maximize /ˈmæksəmaɪz/, analytical /ˌæn.əˈlɪt.ɪ.kəl/, calculate /ˈkælkjʊleɪt/, analyst /ˈænəlɪst/
So übst du mit diesem Video
- Höre dir das ganze Video einmal an, ohne zu sprechen, und notiere die Wörter, die du nicht kennst.
- Beginne mit 0,75-facher Geschwindigkeit, sprich Satz für Satz nach und wechsle zur normalen Geschwindigkeit, sobald es leichtfällt.
- Nimm dich auf und vergleiche mit dem Original; achte dabei auf Wörter wie turnover, leverage, denominator.
Was ist die Shadowing-Technik?
Shadowing ist eine wissenschaftlich fundierte Sprachlerntechnik, die ursprünglich für die professionelle Dolmetscherausbildung entwickelt und durch den Polyglotten Dr. Alexander Arguelles populär gemacht wurde. Die Methode ist einfach aber wirkungsvoll: Du hörst englisches Audio von Muttersprachlern und wiederholst es sofort laut — wie ein Schatten, der dem Sprecher mit nur 1–2 Sekunden Verzögerung folgt. Anders als passives Hören oder Grammatikübungen zwingt Shadowing dein Gehirn und deine Mundmuskulatur, gleichzeitig echte Sprachmuster zu verarbeiten und zu reproduzieren. Studien zeigen, dass es Aussprachegenauigkeit, Intonation, Rhythmus, verbundene Sprache, Hörverständnis und Sprechflüssigkeit signifikant verbessert — was es zu einer der effektivsten Methoden für die IELTS Speaking-Vorbereitung und reale englische Kommunikation macht.