Profitability ratios: | ||||
CFR | OCFR | PMR | ROAR | GPMR |
1. From low to average expenditure structure | ||||
Growth stage | ||||
3.1883 | −6.1941 | −3.1883 | 0.0000 | −5.2661 |
3.1298 | −6.1374 | −3.1298 | 0.0000 | −4.9161 |
Break-even stage | ||||
0.0000 | −5.6667 | −3.1883 | 0.0000 | −5.2500 |
0.0000 | −5.6667 | −3.1298 | 0.0000 | −4.9211 |
0.0000 | −5.6667 | −3.0782 | 0.0000 | −4.6548 |
Profitability stage | ||||
−3.1298 | −5.2698 | −3.1298 | 0.0000 | −4.9259 |
−3.0782 | −5.3015 | −3.0782 | 0.0000 | −4.6708 |
2. From average to high expenditure structure | ||||
Growth stage | ||||
4.6011 | −12.4888 | −4.6011 | 0.0000 | −9.3563 |
4.5439 | −12.2841 | −4.5439 | 0.0000 | −8.3672 |
Break-even stage | ||||
0.0000 | −10.7647 | −4.6011 | 0.0000 | −9.4423 |
0.0000 | −10.7647 | −4.5439 | 0.0000 | −8.4937 |
0.0000 | −10.7647 | −4.4928 | 0.0000 | −7.7800 |
Profitability stage | ||||
−4.5439 | −9.6261 | −4.5439 | 0.0000 | −8.6183 |
−4.4928 | −9.7165 | −4.4928 | 0.0000 | −7.9185 |