All beneficiary groups and of financial statements\' users, in a way, interested in analysis of financial statements; stockholders and beneficiaries interested in recognizing effective factors on return on equity. Some of these factors resulted from managers\' function and/or other internal factors or some of them caused by external ones. In this study, in addition to introduction of mentioned index, economical index correlation with return on equity will be investigated. Gross national product growth and average share price, considered as an economic index. The study aims to investigating mentioned index effects on return on equity in automobile Industry. For this, all active companies listed on Tehran Stock Exchange selected in automobile industry and these indexes calculated for six-years namely 2004-2010. Results showed that there is a correlation between mentioned indexes and return on that could be a guide for users of financial statements in order to make optimal decisions.

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