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杜邦财务分析体系(The Du Pont System)是一种重要的综合财务分析评价体系,其以净资产收益率为核心指标,将偿债能力、营运能力及盈利能力结合起来,层层分解,逐步深入,构成一个完整的财务分析系统。随着经济的发展及对管理要求的不断提高,传统杜邦体系暴露出一些缺陷,如没有反映现金流量,对损益没有区分经营损益和金融损益等。鉴于此,本文在借鉴前人的研究成果基础上,构建了以权益经营净现率为核心指标的新杜邦分析体系并作具体应用分析。
DuPont Financial Analysis System (DuPont System) is an important integrated financial analysis and evaluation system, its return on equity as the core indicators, the solvency, operational capacity and profitability combined, layers of decomposition, and gradually , Constitute a complete financial analysis system. With the development of economy and the continuous improvement of management requirements, the traditional DuPont system exposes some shortcomings. For example, it does not reflect the cash flow and does not distinguish between operating profit and loss and financial gains and losses for profit and loss. In view of this, on the basis of previous studies, this paper constructs a new DuPont analysis system that takes the net present value of interest management as the core indicator and makes a concrete application analysis.