摘要
航空运输公司要实现高质量发展,必须提高其盈利能力。文中运用杜邦分析法,选取2016年至2018年国内五家航空公司的净资产收益率、权益乘数、总资产周转率及销售净利率等4项指标,分析我国航空运输业的盈利能力。研究发现近年来我国航空运输业偿债能力和营运能力逐渐改善,但由于航空公司高昂的营业成本,行业整体销售净利率偏低且逐年下降,导致评价公司整体财务状况的净资产利润率指标偏低,使得公司盈利能力较弱。航空公司应采取积极措施控制成本,优化融资结构并制定合理的经营模式,提升盈利能力。
In order to achieve high-quality development,air transport companies must improve their profitability.This paper uses dupont analysis method to analyze the profitability of China s air transport industry by selecting the Yield valve,equity multiplier,turnover rate of total assets and net sales rate of five domestic airlines from 2016 to 2018.It is found that in recent years,the debt-paying capacity and operating capacity of China s air transport industry have gradually improved,but due to the high operating costs of airlines,the industry s overall net sales rate is low and declining year by year,as a result,the net assets profit ratio(Roe),which is used to evaluate the overall financial condition of the company,is on the low side,making the profitability of the company weak.Airlines should take positive measures to control costs,optimize the financing structure and formulate a reasonable business model to enhance profitability.
作者
濮晗
PU Han(College of Economics and Management,Nanjing Forestry University,Nanjing 210037,China)
出处
《物流工程与管理》
2020年第7期63-66,共4页
Logistics Engineering and Management
基金
南京林业大学大学生创新训练计划项目“我国上市航空公司治理结构与盈利能力研究”(项目编号:2019NFUSPITP0987),指导教师:周春应。
