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负债率是指公司的财务风险。杠杆率越高,表示债务与股本之比越高。塞恩斯伯里过去和现在的杠杆率一直保持在相对较低的水平;如果负债率保持在50%以下,则可以将其归类为低负债率。这些比率表明公司的风险较低。另一方面,乐购的负债率在2015年大幅上升,这对乐购来说是不好的,因为他们现在面临着很高的财务风险。“利息覆盖率是用来决定一家公司支付利息支出的难易程度。当公司的利息率低于1时,为了弥补差额或借更多的钱,公司不得不储备一些现金,因为如果一个月的利息率低于1,公司就会面临破产”(Investopedia, 2016)。在2014年和2013年,Sainsbury的良好的利息覆盖率分别为6.82和6.17,但在2015年,它下降到0.6。但对于乐购来说,与往年相比,2015年的利息覆盖范围有所上升。从以上结果可以看出,Tesco的盈利能力更强,所以在支付利息方面处于更有利的地位。


Gearing ratio indicates the financial risk of a company. The higher the gearing ratio represents the high percentage of debt to equity. Sainsbury past and present gearing ratios have always stayed relatively low; the gearing ratio can be classed as low if it stays below 50%. These ratios indicate that there is lower risk to the company. On the other hand, Tesco gearing ratio has faced a massive increase in 2015, this isn’t good for Tesco as they are now at a high financial risk. “Interest coverage ratio is used to determine how easily a company can pay for their interest expenses. When the company has interest cover ratio lower than 1, in order to meet the difference or borrow more, the company have to reserve some cash, because if is lower in a single month, it will be meet bankrupt” (Investopedia, 2016). In 2014 and 2013, Sainsbury has good interest coverage ratio that is 6.82 and 6.17 respectively, but in 2015, it drops to 0.6. But for Tesco the interest cover rises in 2015 comparing with previous years. From the above results, it can be said that Tesco are in a better position to pay their interest expenses due to their greater profitability.


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