苏宁云商股份有限公司的财务报表分析及与国美电器的比较

发布时间：2019-02-19 11:39

【摘要】：苏宁云商是国内家电零售行业的领导者,1990年在中国南京成立,2004年7月在深交所上市,成为国内首家IPO上市的家电连锁企业。截止到2015年12月31日,苏宁云商实现销售收入13554.76万元,实现净利润75.77万元,为了抢占更大的市场份额,巩固市场地位,苏宁云商面临着在电子商务时代线上线下业务融合的调整。通过对苏宁的财务报表分析,作者希望对其发展有所帮助,并对其它企业提供一点借鉴作用。本文首先对苏宁云商的基本情况进行了简单的介绍,其次,运用PEST模型对所处的零售行业经营环境进行分析,同时,以苏宁云商和国美电器过去五年(2010—2014)的财务报表数据为基础,运用比较分析法、结构分析法等方法分析了两个公司的经营情况,并运用比率分析法、杜邦财务分析体系评价了两个公司的综合营运能力。经分析得出,苏宁云商的财务状况整体要好于国美电器。苏宁的总资产收益率(ROA)、偿债能力、现金流能力要强于国美,由于国美电器的营运能力方面优于苏宁云商,加之合理的资本结构,使得国美电器的净资产收益率(ROE)从2012年开始就超过了苏宁云商。对于未来发展而言,苏宁云商要着力控制成本,强化营运能力；而国美电器要把握住时机,扩大市场份额,巩固市场地位。
[Abstract]:Su Ning is the leader of home appliance retail industry in China. Founded in Nanjing, China in 1990, Su Ning listed on Shenzhen Stock Exchange in July 2004, becoming the first household appliance chain enterprise listed in IPO in China. By December 31, 2015, Su Ning had achieved sales revenue of 135.5476 million yuan and net profit of 757700 yuan. In order to seize a larger market share and consolidate its market position, Su Ning cloud business is facing in the e-commerce era line and off-line business integration adjustment. Through the analysis of Su Ning's financial statements, the author hopes to be helpful to the development of Su Ning and provide some reference to other enterprises. This paper first introduces the basic situation of Su Ning's cloud business, secondly, analyzes the business environment of the retail industry by using PEST model, and at the same time, Based on the financial statement data of Su Ning and Gome in the past five years (2010-2014), this paper analyzes the operating situation of the two companies by means of comparative analysis, structural analysis, and ratio analysis. DuPont Financial Analysis system (FASS) assessed the combined operational capabilities of the two companies. After analysis, Su Ning cloud business overall financial situation is better than Gome. Su Ning's total rate of return on assets (ROA), solvency, cash flow capacity is stronger than Gome, because Gome's operating capacity is superior to Su Ning cloud business, coupled with a reasonable capital structure, Gome made Gome's return on net assets (ROE) since 2012 has surpassed Su Ning cloud business. For future development, Su Ning cloud business should focus on cost control, strengthen operating capacity, and Gome to seize the opportunity to expand market share, consolidate market position.
【学位授予单位】：西南交通大学
【学位级别】：硕士
【学位授予年份】：2016
【分类号】：F724.6;F721;F715.5

【相似文献】