首页 > 资料专栏 > 论文 > 财税论文 > 财税审计论文 > MBA毕业论文_于杜邦分析法的G公司盈利能力分析及提升策略研究PDF

MBA毕业论文_于杜邦分析法的G公司盈利能力分析及提升策略研究PDF

huaweim***
V 实名认证
内容提供者
资料大小:1511KB(压缩后)
文档格式:PDF
资料语言:中文版/英文版/日文版
解压密码:m448
更新时间:2022/6/25(发布于北京)

类型:金牌资料
积分:--
推荐:升级会员

   点此下载 ==>> 点击下载文档


文本描述
从19世纪60年代英国工业革命到现在全球化经济大发展,传统能源的消耗 量越来越大,环境污染问题越来越严重,处理人类在将来面对的能源问题,在很 大程度上需要依靠新能源电力,发展新能源电力是新形势下大势所趋。在深入推 动经济新常态建设的条件下我国的电力产业正面对着巨大的变化。“十三五”建 设规划当中提出,要有效的推动电力供给侧结构性改革,重点在于合理调整火电 建设项目,有效的限制火电规模,调整增量架构。和火电面临的情况相反,由于 各种政策对新能源电力产业的支持和激励,新能源产业发展面临重大机遇。本文 以新能源电力G公司为例,采用杜邦分析体系,找出新能源电力公司盈利能力 波动的原因,稳步改善公司盈利能力。 G企业属于在国内具有一定影响力的上市企业,在20多年的发展过程中反 映了国内电力行业的发展,是中国电力发展的贡献者。在维持火电业务稳定发展 的前提下,该企业重点关注清洁能源等绿色经济项目的开展。根据当前的运营情 况来看,企业的业务范围存在一定多样性,广泛涉及火力发电以及风力发电等多 个方面,同时在分布式光伏等新能源产业也有一定发展。产业布局涉及到国内 18个区域,目前已经展开了海外扩张的战略布局。最近5年,企业整体实力持 续提高,但盈利能力并不稳定。 本文主要运用比较分析法、比率分析法、趋势分析法,基于杜邦分析体系对 新能源电力G公司的运营现状进行分析,重点是对公司净资产收益率、销售净 利率、总资产周转率、权益乘数等财务数据进行研究分析,并进一步分析盈利能 力财务影响因素,发现公司存在利润率较低、营运能力不足、财务杠杆较高、盈 利能力不稳定等问题,针对性地给出有效的应对策略,包括有效控制成本费用、 加强应收账款管理、优化融资方式、优化发展战略等,以期为稳步改善G公司 盈利能力提供参考。 关键词:盈利能力,新能源电力,杜邦分析 江苏大学工商管理硕士(MBA)学位论文 III ABSTRACT From the British industrial revolution in the 1860s to the great development of the global economy, the consumption of traditional energy has become more and more large, and the problem of environmental pollution has become more and more serious. To deal with the energy problems that mankind faces in the future, it is largely necessary to rely on new energy power. The development of new energy power is the general trend under the new situation. China's power industry is facing great changes under the condition of further promoting the construction of a new normal in the economy. In the "13th Five-Year Plan" construction plan, it is proposed that to effectively promote structural reforms on the power supply side, the focus should be on rationally adjusting thermal power construction projects, effectively limiting the scale of thermal power and adjusting the incremental framework. Contrary to the situation faced by thermal power, due to the support and encouragement of various policies for the new energy power industry, the development of the new energy industry faces major opportunities. Taking new energy power company G as an example, this paper uses DuPont analysis system to find out the reasons for the fluctuation of the profitability of new energy power company, and steadily improve the profitability of the company. G companies belong to listed companies that have a certain influence in China. In the course of more than 20 years of development, they reflect the development of the domestic power industry and are contributors to China's power development. Under the premise of maintaining the stable development of the thermal power business, the company focuses on the development of green economy projects such as clean energy and new energy. According to the current operating conditions, there is a certain diversity of business scope of the company, which involves a wide range of aspects such as thermal power generation and wind power generation. At the same time, there is also some progress in new energy industries such as distributed functions. The industrial layout involves 18 key regions in China. At present, the strategic layout of overseas expansion has been launched. In the past five years, the overall strength of the company has continued to increase, but the profitability is not stable. Based on DuPont analysis, this paper takes new energy power company g as an 江苏大学工商管理硕士(MBA)学位论文 IV example, evaluates the operating efficiency and financial situation of research company, and constructs a comprehensive index system. The focus is on the study and evaluation of financial data such as the company's net asset return rate, sales net interest rate, total asset turnover rate, and equity multiplier. It is found that the company has problems such as low profit margins and unstable profitability, and further analyzes the financial factors that affect profitability. In order to provide reference for steady improvement of G company's profitability, this paper gives some effective countermeasures, including adjusting the enterprise's future development strategy, strengthening the enterprise's internal operation and management ability, enhancing the management ability of accounts receivable and adjusting the financing mode. Keywords: profitability,new energy power,DuPont analysis. 江苏大学工商管理硕士(MBA)学位论文 V 目 录 1绪论 1 1.1研究背景..................... 1 1.2研究问题和意义......... 2 1.2.1研究问题 ........... 2 1.2.2研究意义........... 2 1.3国内外研究现状......... 3 1.3.1国外研究现状... 3 1.3.2国内研究现状... 4 1.3.3研究评述........... 5 1.4研究内容与方法......... 6 1.4.1研究内容........... 6 1.4.2研究方法........... 7 2 相关概念及分析方法 .. 8 2.1 盈利质量.................... 8 2.2 现金流量.................... 8 2.3 盈利能力.................... 9 2.4 杜邦分析法................ 9 2.4.1 净资产收益率 10 2.4.2 总资产净利率 10 2.4.3 权益乘数........ 10 3 G公司概况及盈利能力现状 .................... 12 3.1新能源电力行业概况及G公司概况 ..... 12 3.1.1行业发展情况. 12 3.1.2 G公司总体概况 ............................ 15 3.2 G公司经营情况 ....... 16 3.2.1 G公司经营范围 ............................ 16 江苏大学工商管理硕士(MBA)学位论文 VI 3.2.2 G公司组织架构 ............................ 16 3.2.3 G公司主要投资对象 .................... 17 3.2.4 G公司财务情况 ............................ 17 3.3 G公司盈利能力现状 .............................. 18 3.3.1G公司盈利能力水平现状 ............. 18 3.3.2G公司盈利能力稳定性现状 ......... 20 3.3.3G公司盈利能力持久性现状 ......... 21 4 G公司盈利能力影响因素分析 ................ 23 4.1 净资产收益率影响因素分析................. 23 4.1.1研究数据选取. 23 4.1.2净资产收益率分析........................ 23 4.2 销售净利率影响因素分析..................... 24 4.2.1利润对比分析. 25 4.2.2收入构成分析. 26 4.2.3与同行业平均水平比较分析........ 28 4.3 总资产周转率影响因素分析................. 29 4.3.1总资产周转率驱动因素分解........ 29 4.3.2与同行业平均水平比较分析........ 32 4.4 权益乘数影响因素分析......................... 33 4.4.1权益乘数驱动因素分解................ 33 4.4.2与同行业平均水平比较分析........ 34 4.5 G公司盈利能力存在问题与成因分析 .. 35 4.5.1 G公司销售利润率偏低 ................ 35 4.5.2 G公司营运能力不足 .................... 35 4.5.3 G公司财务杠杆较高 .................... 36 4.5.4 G公司盈利能力波动较大 ............ 36 5 提升G公司盈利能力策略建议 .............. 37 5.1 创新营销策略,控制成本费用,提高销售净利润............ 37 5.1.1转变落后的营销理念.................... 37 5.1.2创新营销模式. 37 江苏大学工商管理硕士(MBA)学位论文 VII 5.1.3提高技术水平. 37 5.1.4提高预算监管成效........................ 37 5.1.5合理降低行政费用........................ 38 5.1.6科学采购发电设备........................ 38 5.2 提高应收账款周转率,加强营运管理. 39 5.2.1加强预算管理. 39 5.2.2提高申报补贴效率........................ 39 5.2.3加强应收账款管理........................ 40 5.2.4探索应收账款证券化.................... 40 5.3 优化融资方式,降低财务杠杆............. 40 5.3.1银行借款......... 40 5.3.2债券融资......... 41 5.3.3票据融资......... 41 5.3.4资产证券化融资............................ 41 5.3.5发展产业投资基金........................ 42 5.4 优化发展战略,稳步提升盈利能力..... 42 5.4.1调整投资方向. 42 5.4.2优化资源配置. 45 5.4.3加强电力营销. 46 6 研究结论与展望 ........ 48 6.1研究结论................... 48 6.2研究不足和展望....... 49