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Does it make sense to compare the ratios of firms in different industries? Why or why...

Does it make sense to compare the ratios of firms in different industries? Why or why not?

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No, it may not make sense always. For example if you were to compare debt/equity ratio or any of the leverage ratios for a banking company vs a FMCG company, it would be hugely misleading. This is because a banking company by its business model is always heavily leveraged due to lending operations. But comparison of financial ratios between different companies of the same industry is appropriate largely.

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