基于杜邦分析法对酒类企业的盈利能力分析——以贵州茅台为例

发布时间：2018-03-25 18:18

本文选题：酒类企业　切入点：杜邦分析　出处：《赤峰学院学报(自然科学版)》2016年11期

【摘要】：盈利能力是企业经营管理水平的主要体现,也是企业投资价值的重要指标.本文基于杜邦分析的财务分析方法,以贵州茅台为研究对象,利用其2013-2015年的经营数据进行杜邦分解,对其现状及经营发展趋势进行深层次的探讨和分析评价,进而对贵州茅台集团的盈利能力做出估计,同时为其他国内酒类企业的经营发展提供有益参考,研究显示:在世界经济复苏艰难,国内经济增速换挡、经济结构转型、经济驱动换代的新常态时期,加之国内对三公腐败奢侈消费的高压打击,贵州茅台仍保持了较为稳定的销售净利率,公司的整体经营能力较强,虽然近年来权益乘数有所上升,但是公司总体经营风险可控,盈利能力也在逐步增强.
[Abstract]:Profitability is the main embodiment of enterprise management level and an important indicator of enterprise investment value. Based on the financial analysis method of DuPont analysis, this paper takes Moutai, Guizhou as the research object, and uses its management data from 2013 to 2015 to decompose DuPont. This paper makes a deep discussion and analysis and evaluation on its present situation and development trend, then estimates the profitability of Guizhou Moutai Group, and provides a useful reference for the management and development of other domestic wine enterprises. The study shows that in the new normal period of world economic recovery, domestic economic growth shift, economic restructuring, economic transformation driven by the economy, coupled with the domestic crackdown on the corrupt luxury consumption of Sangong, Guizhou Maotai still maintained a relatively stable net sales interest rate, the company's overall operating capacity is strong, although the rights and interests multiplier has increased in recent years, but the overall operating risk of the company is controllable, profitability is also gradually enhanced.
【作者单位】：安徽财经大学会计学院;
【基金】：安徽财经大学2016年度大学生科研创新基金项目(XSKY1673)阶段性研究成果
【分类号】：F406.7;F426.82

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