Nobility Homes, Incorporated, is a small maker of manufactured homes sold throughout the state of Florida. The following are selected financial data for the company for the period 2012-2016. Profit margin (%) Retention ratio (%) Asset turnover (X) Financial leverage (X) Growth rate in sales (%) Source: Data from Nobility Homes 2012 to 2016 annual reports 2012 0.3 100.0 0.54 1.19 18.4 Year 2012 2013 2014 2015 2016 % % % % % 2013 4.0 100.0 0.59 1.23 17.9 2014 6.4 100.0 0.64 1.26 15.4 2015 10.4 100.0 0.69 1.31 31.9 2016 a. Calculate Nobility Homes' annual sustainable growth rate for the years 2012 through 2016. Note: Round your answers to 1 decimal place. Sustainable Growth Rate 18.4 100.0 0.74 1.39 23.4

Nobility Homes, Incorporated, is a small maker of manufactured homes sold throughout the state of Florida. The following are selected financial data for the company for the period 2012-2016. Profit margin (%) Retention ratio (%) Asset turnover (X) Financial leverage (X) Growth rate in sales (%) Source: Data from Nobility Homes 2012 to 2016 annual reports 2012 0.3 100.0 0.54 1.19 18.4 Year 2012 2013 2014 2015 2016 % % % % % 2013 4.0 100.0 0.59 1.23 17.9 2014 6.4 100.0 0.64 1.26 15.4 2015 10.4 100.0 0.69 1.31 31.9 2016 a. Calculate Nobility Homes' annual sustainable growth rate for the years 2012 through 2016. Note: Round your answers to 1 decimal place. Sustainable Growth Rate 18.4 100.0 0.74 1.39 23.4

Entrepreneurial Finance

6th Edition

ISBN:9781337635653

Author:Leach

Publisher:Leach

Chapter5: Evaluating Operating And Financial Performance

Section: Chapter Questions

Problem 7EP

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