How to build a comprehensive analysis system of financial indicators?

To master fundamental analysis, we need to master some standing knowledge. Let's talk about how to build a comprehensive analysis system of financial indicators.

The profitability of an enterprise mainly reflects its ability to create profits through business operations. There are many financial indicators that reflect the profitability of enterprises, but the analysis of a single indicator often makes investors' judgment on the profitability of enterprises in a vague state. By introducing the linkage relationship between two or more financial indicators, this paper evaluates the current operating results and future profitability of the enterprise, thus providing a clear analysis idea for investors to understand the operating conditions of the enterprise.

1. Comprehensive collocation analysis of debt operating rate and profit growth rate

Debt operating rate = long-term debt/owner's equity, reflecting the independence and stability of the enterprise's capital source structure.

Profit growth rate = (current net profit-last net profit)/last net profit, reflecting the appreciation of enterprise profitability.

Based on the above indicators, we can comprehensively judge the growth potential of enterprise profitability. If the two increase at the same time, it shows that although the enterprise has increased the investment of external funds and increased certain risks, at the same time, the enterprise has made rational use of funds and improved profits, and the debt operation has brought certain profits to the enterprise, which shows that the debt operation measures are correct. If it falls at the same time, it shows that the enterprise has reduced the profit level while reducing the debt scale, and its profit potential is limited.

2. Comprehensive collocation analysis of current debt ratio, current asset ratio and profit growth rate.

Current debt ratio = current liabilities/assets, current assets ratio = current assets/assets, profit growth rate = (current net profit-last net profit)/last net profit.

We will consider the above indicators to see the profit prospects of enterprises. If the three indicators are improved at the same time, it means that the enterprise has expanded its production and operation business, increased its output and expanded its profits; If the current debt ratio increases, the current asset ratio decreases, but the profit rate increases, which shows that the product sales of the enterprise are very good, the demand exceeds the supply, and the operating conditions remain good; If the current debt ratio rises, the current assets ratio drops and the profit rate drops, it shows that the production and operation situation of the enterprise will deteriorate and the enterprise will have financial difficulties; If the current debt ratio, current asset ratio and profit rate decrease at the same time, it shows that the production and operation of enterprises are shrinking and the profit prospect of enterprises is very pessimistic.

To sum up, we find that the financial indicators reflecting the profitability of enterprises are related and collocated. If it shows that the profitability of enterprises is weakening, then the potential of profitability of enterprises is worthy of our discussion, and investors should be cautious.

case analysis

First of all, we use the analysis system of listed companies in Yin He, and adopt the first method to make an example analysis. Taking the data of Huatian Hotel on June 365438+February 3, 20021as an example, we can see that the debt operating rate of enterprises has increased from 1.59% at the end of 2006 to1.77% at the end of 2002, but the profit growth rate is-.

Taking Huatian Hotel as an example, we analyzed the relationship among current debt ratio, current assets ratio and profit growth rate, as shown in the following table:

Indicator name 2001growth rate in 2002

The current debt ratio is 35.8% and 27%-25%.

Current assets ratio 32% 22%-3 1% ↓

Profit growth rate-19.8% ↓

We can see that the three indicators show a downward trend at the same time, indicating that the profitability of enterprises is gradually weakened with the shrinking production and operation business.