对于整个公司的财务可以看出这个公司是否亏损和整个公司的走向。可以让使用者充分的了解公司经营状况、获取真实的财务信息然后做出最全面的决策。财务报表分析的目的在于为管理者进行决策提供依据,对被分析对象的经营起到了很大的作用。通过财务报表的计算和分析,可以让信息使用者与决策者得到准确的企业财务状况和企业经营成果的信息。其中盈利能力分析是财务分析的核心,也是被分析对象经营者、债权人最为关心的问题,它可以准确反映被分析对象的获利能力,即可以更加客观、确切的反映出被分析对象获取利润的能力、营销能力以及控制成本的能力并且还能够反映出面对风险的控制能力。
本文以青岛啤酒股份有限公司为主体,通过2014年-2016年的相关财务数据,选用杜邦分析法对青岛啤酒股份有限公司的财务状况进行计算和分析得出公司的盈利能力情况。利用杜邦分析法中的销售净利率、总资产净利率、权益乘数等相关指标深入探究并综合分析,可以使报表分析者全面地掌握和了解该报表所反映出的具体财务信息。根据分析结论找出青岛啤酒股份有限公司经营管理中的问题,并提出改进公司经营管理的建议和可行的方法。
关键词：青岛啤酒股份有限公司、盈利能力、杜邦分析法、报表分析
Financial statements can intuitively reflect the company’s operating results, financial status and trends.Allows users to fully understand the company’s operating conditions, access to real financial information, and then make the most comprehensive decisions.The purpose of financial statement analysis is to provide the basis for managers to make decisions and play a big role in the management of the objects being analyzed.Through the calculation and analysis of financial statements, information users and decision makers can get accurate information about the financial status of enterprises and the results of business operations.The analysis of profitability is the core of the financial analysis is the analysis object managers, creditors are most concerned about issues, it can accurately reflect the analysis of the object’s profit ability, which can objectively and exactly reflect the analysis object of profit ability, marketing ability and the ability to control costs and also can reflect the in the face of risk control ability.
This paper takes Tsingtao Brewery Limited by Share Ltd as the main body, through the relevant financial data in 2014-2016 years, the DuPont analysis of Tsingtao Brewery Limited by Share Ltd financial situation was calculated and analyzed the profitability of the company. The related indexes using DuPont analysis method in the sales net profit margin, net interest rate of total assets, equity multiplier, etc. further research and comprehensive analysis, the specific financial information can make statements analysts fully grasp and understand the statements reflected. According to the analysis conclusion, the problems in the management of Tsingtao Brewery Limited by Share Ltd are found out, and suggestions and feasible methods for improving the management of the company are put forward.
Key words：Profitability;Tsingtao Brewery Company Limited;DuPont Analysis;Report analysis
目 录
摘 要…………………………………………………………………………………………………………………… I
Abstract………………………………………………………………………………………………………………….. II
一、绪论………………………………………………………………………………………………………………… 6
(一)研究背景…………………………………………………………………………………………………… 6
(二)研究目的及意义………………………………………………………………………………………… 6
1.研究目的……………………………………………………………………………………………….. 6
2.研究意义……………………………………………………………………………………………….. 6
(三)国内外文献综述………………………………………………………………………………………… 7
1.国外文献综述………………………………………………………………………………………… 7
2.国内文献综述………………………………………………………………………………………… 8
(四)研究的主要内容………………………………………………………………………………………… 9
1.盈利能力理论基础…………………………………………………………………………………. 9
2.公司的盈利能力情况……………………………………………………………………………. 10
二、盈利能力体系评价分析的理论基础………………………………………………………………… 10
(一)盈利能力及盈利能力分析的基本概念………………………………………………………. 10
1.盈利能力概念………………………………………………………………………………………. 10
(二)基本分析方法…………………………………………………………………………………………… 11
1.财务分析法………………………………………………………………………………………….. 11
2.杜邦分析法………………………………………………………………………………………….. 11
三、青岛啤酒股份有限公司盈利能力分析…………………………………………………………….. 12
(一)公司基本情况………………………………………………………………………………………….. 12
1.公司简介……………………………………………………………………………………………… 12
- 公司基本数据…………………………………………………………………………………….. 12
(二)公司相关指标分析…………………………………………………………………………………… 13
1.盈利能力财务指标分析………………………………………………………………………… 13
2.杜邦分析……………………………………………………………………………………………… 14
（三）同行业比较分析………………………………………………………………………………….. 15
1.青岛啤酒与雪花啤酒数据…………………………………………………………………….. 15
2.两者数据比较分析……………………………………………………………………………….. 16
四、青岛啤酒股份有限公司的问题及原因…………………………………………………………….. 16
(一)经营管理中的问题…………………………………………………………………………………… 16
1.营业收入下滑………………………………………………………………………………………. 16
2.产品销售效率降低……………………………………………………………………………….. 17
3.财务杠杆效应降低……………………………………………………………………………….. 17
(二)经营管理问题的原因……………………………………………………………………………….. 18
1.竞争激烈……………………………………………………………………………………………… 18
2.销售存在瓶颈………………………………………………………………………………………. 18
3.产品创新乏力………………………………………………………………………………………. 18
对青岛啤酒股份有限公司改进方法和建议…………………………………………………………….. 19
(一)经营管理中的改进方法……………………………………………………………………………. 19
1.积极提高营业收入……………………………………………………………………………….. 19
2.加快产品销售速度……………………………………………………………………………….. 19
(二)对经营管理方面的建议……………………………………………………………………………. 20
1.积极利用财务杠杆比率………………………………………………………………………… 20
2.建设可持续发展的企业文化和人才基础……………………………………………….. 20
结 论…………………………………………………………………………………………………………………. 21
致 谢…………………………………………………………………………………………………………………. 22
参考文献……………………………………………………………………………………………………………… 23
