基于杜邦分析法进行的财务分析研究-以首旅酒店为例.docVIP

PAGE PAGE 22 摘要 中国在改革不断深入的同时进入全新的发展阶段，第三产业的发展在不断增速，而且在经济发展中成为重要一员。第三产业包括范围广，例如：新兴的商业和金融业、还有提供各种劳务的服务性行业，其中，酒店住宿业在良好的市场环境下也得到了极大的滋润。本文梳理了我国酒店住宿业的发展历程、市场结构以及酒店企业的财务状况，并以杜邦分析法为例，对首旅酒店2014-2017年的财务报告进行了分析。分析表明，传统的财务分析方法得出的结论是，首旅酒店的盈利能力、偿债能力和经营能力都表现良好。然而，用杜邦分析法逐层分解收入指数后发现，可以看到其存在一些问题。近年来，酒店业的数量增长迅速，企业的竞争力并未减弱。在市场扩张、转型升级的形势下，首旅酒店由于筹资、经营、投资等原因，财务问题越来越突出。从首旅酒店目前的财务状况和问题出现的原因角度出发，根据酒店的实际发展情况，提出切实可行的意见，表示首旅酒店可以控制成本管理，依靠杠杆效应提高公司的盈利能力，扩大融资渠道，优化资本结构等。通过对首旅酒店的财务状况的分析，为首旅酒店提升管理水平和运行情况提供一些借鉴意义。 关键词：住宿业，杜邦分析，盈利能力，营运能力，偿债能力 Abstract With the deepening of reform, China has entered a new stage of development. The tertiary industry is growing rapidly and becoming an important part of the economic development. The tertiary industry covers a wide range, such as the emerging business and financial industry, as well as service industries providing various services, among which the hotel accommodation industry has also been greatly nurtured in a good market environment. This paper reviews the development history, market structure and financial situation of Chinas hotel accommodation industry, and takes DuPont analysis method as an example to analyze the financial reports of Shoulv hotel from 2014 to 2017. The analysis shows that the traditional financial analysis method concludes that Shoulv hotel performs well in terms of profitability, debt paying ability and operating ability. However, after using DuPont analysis to break down the income index layer by layer, some problems can be found. In recent years, the number of the hotel industry has grown rapidly, the competitiveness of enterprises has not weakened. Under the situation of market expansion, transformation and upgrading, Shoulv hotels have increasingly prominent financial problems due to financing, operation, investment and other reasons. From the perspective of the current financial situation and the causes of the problems of Shoulv hotel, this paper puts forward feasible Suggestions according to the actual development o