VOLKSWAGEN

		Profitability ratios
	2016 millions Euros	2017 Million Euros	2018 Million Euros
Gross margin
Gross profit	42366	47131	47471
Sales	217267	229550	235849
	19.50%	20.53%	20.13%
Net profit margin
Net profit	5379	11463	12153
Sales	217267	229550	235849
	2.48%	4.99%	5.15%
Return on Equity
Net income	5379	11463	12153
Shareholder Equity	92910	109077	117342
	5.79%	10.51%	10.36%
Return on total assets
Net income	5379	11463	12153
Average total assets	395833.5	415962.5	440174.5
	1.36%	2.76%	2.76%
		Efficiency ratios
Inventory turnover
Cost of sales	174901	182419	188378
Averege inventory	38978	40415	45745
	4.49	4.51	4.12
Accounts receivable turnover
Sales	217267	229550	235849
Averege accounts receivables	7773	12772	15622.5
	27.95	17.97	15.10
Accounts payables turnover
Cost of sales	174901	182419	188378
Average payables	21627	22920	23326.5
	8.09	7.96	8.08
Asset turnover
Sales	217267	229550	235849
Average total assets	395833.5	415962.5	440174.5
	0.55	0.55	0.54
		Liquidity ratios
Current ratio
Current assets	155722	160112	183536
Current liabilities	177515	160389	167968
	0.88	1.00	1.09
Operating Cash flow ratio
Operating cash flow	9430	-1186	7274
Current liabilities	177515	160389	167968
	0.05	-0.01	0.04
		Leverage ratios
Debt ratio
Total liabilities	316822	313116	340814
Total assets	409732	422193	458156
	0.77	0.74	0.74
Debt to equity
Total liabilities	316822	313116	340814
Total Equity	92910	109077	117342
	3.41	2.87	2.90