基于四种能力和杜邦分析的财务综合分析--以恒大集团为例

Comprehensive Financial Analysis Based on Four Competences and DuPont Analysis:Take Evergrande Group as an Example

财务分析是评判公司发展潜力的重要经济管理活动。文章以中国恒大集团为例,通过该公司的财务报告,解析其四大财务能力(利润、偿债、经营和发展),并利用杜邦分析法对其展开财务分析。该集团的四种能力指标从2016-2018年均是正增长,从2018-2020年该集团的盈利能力和偿债能力指标不断下降。通过杜邦分析法分析发现,2018-2020年的财务核心指标——净资产收益率出现大幅下降。

Financial analysis is an important factor of business activity for assessing the development potential of a company.Using the example of China Evergrand Group,the article analyzes its four main financial abilities(profitability,solvency,operating capacity and development capacity),and uses Dupont analysis to conduct financial analysis.The four capacity indicators of the group showed positive growth from 2016 to 2018,while the profitability and solvency indicators of the group continued to decline from 2018 to 2020.Through DuPont analysis,it is found that the financial core index from 2018-2020--return on equality declined significantly.