发展能力分析范文.pdf

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1、WORD 格式可编辑专业技术知识共享发展能力分析一、指标选取及原因：反映上市公司的发展能力指标有四个：1、是营业收入增长率与可持续增长率，营业收入增长率是反映企业销售增长情况的财务指标，它是将本期的营业收入与上一期的营业收入相比较，以说明企业营业收入的增长情况。营业收入增长率可以用来衡量企业的产品生命周期，判断企业发展所处的阶段。企业可持续增长率，指不增发新股并保持目前经营效率和财务政策条件下，销售所能增长的最大比率。2、是总资产增长率，总资产增长率指标是从企业资产总量扩张方面衡量企业的发展能力，表明企业规模增长水平对企业发展后劲的影响。3、是资本积累率，资本积累率是本年所有者权益增加额同年初

2、所有者权益余额的比率，是企业当年所有者权益总的增长率，反映企业净资产当年的变动水平。四是营业利润增长率，营业利润增长率是企业本年营业利润增长额同上年营业利润的比率。营业利润增长率表示与上年相比，企业营业利润的增减变动情况，是评价企业经营发展和盈利能力状况的综合指标。二、数据调整及指标计算计算公式：营业收入增长率=（本期营业收入-上期营业收入）/上期营业收入*100%可持续增长率股东权益本期增加/期初股东权益总资产增长率=本年总资产增长额/年初资产总额*100%资本积累率=本年净资产增长额/年初净资产数*100%营业利润增长率=本年营业利润增长额/上年营业利润*100%净利润增长率=（本期净利润

3、-上期净利润）/上期净利润*100%1、营业收入增长率与可持续增长率从表中可以看到万科集团的营业收入增长率从20008 年到 2009 年是增长的，且营业收入增长率超过10%，2010 年的营业增长率急速下降，只有约 3.7%，低于 5%，但是 2011 年到 2012WORD 格式可编辑专业技术知识共享年急速增长，超过40%，再来看它的可持续增长率。从表中可以看到，2011 年和 2012 年的营业收入增长率远远超过同期的可持续增长率，而超过企业可持续增长率的销售增长率通常是无法持续的。所以该集团今后的营业收入增长率可能不会一直保持良好的势头。但是我们再从它的三年营业收入平均增长率来看，20

4、11 年和 2012 年均超过了20%，综合这三方面来看，该企业处于一个处于一个发展期，有良好的发展能力。2、资产增长率指标从上表中可以看到万科集团一直都大于零，说明该企业各个年度的总资产增加了，而且企业的生产经营规一直在扩大。尤其是2010 年总资产增长率增长的极快，获得了较大的规模效益，2011 年和 2012 年的总资产增长率在逐渐下降，该企业获得的规模效益也相对下降。但是它 2011 年和 2012 年的三年平均资产增长率远远大于零，分别为35.4%，40.1%，反映企业资产呈现增长趋势，有能力不断扩大生产规模，有较强的发展潜力，资产增长速度越快，发展的趋势越强。而且它08 年到 12

5、 年的固定资产成新率都在70%以上，表明企业的固定资产比较新，技术性能较好，可以为企业服务较长时间，对扩大再生产的准备比较充足，发展的可能性较大。3、资本积累率文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L

6、7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S

7、2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4

8、文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A

9、1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F

10、8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4

11、Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4WORD 格式可编辑专业技术知识共享该企业的资本积累率08 年到 11 年一直处于持续增长的状态，12

12、年稍稍有所下降，资本积累率的指标较高，应付风险和持续发展的能力较强。该企业 2011 年和 2012 年的三年平均资本积累率超过20%，表明该企业所有者权益得到的保障程度越大，企业可以长期使用的资金越充裕，抗风险和连续发展的能力越强。该企业08 年的营业利润增长率小于本年主营业务收入增长率，说明该年度企业取得的收入不能消化成本费用的上涨，主营业务的获利能力有所下降。09 年的营业利润增长率大于本年主营业务收入增长率，该年度企业的主营收入弥补成本费用的能力进一步提高，企业抵御价格降低、成本升高和销售下降的能力进一步增强，企业主营业务的获利能力提高，并推动整个企业获得更多的利润。10 年，11 年

13、和 12 年度的营业利润增长率小于本年主营业务收入增长率，这三个年度企业取得的收入不能消化成本费用的上涨，主营业务的获利能力有所下降。但是该企业的净利率增长率除了2008 年为负，其他年度的净利润增长率都在30%以上，说明了该企业的长期盈利能力较强，获利能力很强，具有很强的发展能力。三，趋势分析文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2

14、 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文

15、档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1

16、L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8

17、S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y

18、4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1

19、A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8

20、F8S2 ZJ2U6V7C4Y4WORD 格式可编辑专业技术知识共享前面我们具体分析了万科集团发展能力的各项指标，上表是它各项指标的一个趋势图，从表中我们可以看到它的各项指标总体上处于一个持续上升的趋势，而它的固定资产成新率保持着较高的水平，也较稳定。所以这些趋势图中我们可以看出未来万科集团将继续处于一良好的发展状态，发展能力很强。四、行业分析2012 年年度万科与保利各项发展指标对比表文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1

21、A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V

22、7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3

23、R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10

24、T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U

25、6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:C

26、K3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY

27、10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4WORD 格式可编辑专业技术知识共享万科集团是我国房地产的龙头企业，保利地产也是我国房产的龙头企业之一。从上表中可以看到，与保利地产相比，2012 年年度万科集团的营业总收入、股东权益、年末资产总额、营业利润和净利润都比保利地产高，保持着领先地位，但是它的各项增长率却比保利地产低。这些指标反映了万科集团的现实发展状况要强于保利集团，但是它的发展前景稍稍低于保利地产。五、因素分析这是影响营业收入增长率的因素分析，上表是以万科集团2011 年与 2012 年的数据为例的。从

28、表中可以看到，2011 年与 2012 年的营业收入增长率的差异是本期销售收入与上期销售收入的差异导致的，本期的营业收入对营业收入增长率的影响更大，所以在行业分析中，万科集团的营业收入增长率比保利地产的低是由于它们自身本期营业收入与上期营业收入的差异导致的。这是影响可持续增长率的因素分析，上表是以万科集团2011 年与 2012 年的数据为例的。从表中可以看到，2011 年与 2012 年的可持续增长率是受股东权益本期增加额与期初股东权益所影响的，股东权益的本期增加额与期初股东权益对可持续增长率的影响同等重要，所以在行业分析中，万科集团的可持续增长率比保利地产的低是由于受到本公司股东权益的影响

29、。文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1

30、A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8

31、F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C

32、4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3

33、H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1

34、A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V

35、7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4WORD 格式可编辑专业技术知识共享这是影响总资产增长率的因素分析，上表是以万科集团2011 年与 2012 年的数据为例的。从表中可以看到，2011 年与 2012 年的总资产增长率是本公司年末资产总额与年初资产总额相互作用影响的在行业分析中，万科集团的总资产

36、增长率比保利地产的低是由于受到本公司年末资产总额与年初资产总额的差异所导致的。这是影响营业利润增长率的因素分析，上表是以万科集团2011 年与 2012 年的数据为例的。从表中可以看到，2011 年与 2012 年的营业利润增长率是受本年营业利润和上年营业利润所影响的，万科集团的可持续增长率比保利地产的低是由于该公司本身本年利润与上年利润两种因素相互作用产生的。这是影响净利润增长率的因素分析，上表是以万科集团2011 年与 2012 年的数据为例的。从表中可以看到，2011 年与 2012 年的净利润增长率是受本期净利润与上期净利润的相互作用文档编码:CK3R3H1A1L7 HY10T1A8F

37、8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4

38、Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H

39、1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A

40、8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7

41、C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R

42、3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T

43、1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4WORD 格式可编辑专业技术知识共享的影响，所以在行业分析中，万科集团的可持续增长率比保利地产的低是由于企业之间的净利润差异导致的。六、存在的问题和建议通过前面的各项分析可以得出万科的发展能力很强，处于我国房产方面的老大地位，它旗下的各种品牌已深受消费者的喜爱，但是它的企业品牌营销能力不足，企业价值观念没有深入新加

44、入人员的内心。2、受“国十条”的影响，万科集团的融资困难。3、与别的房产龙头企业相比，万科虽然在资产、所有者权益、利润增长额方面高于别的企业，但是它的各项发展指标的增长率却不是最高，低于少数别的企业。为此，万科集团应着手对这些问题进行改进，我提出以下几点建议：1、加强对旗下人员的企业价值观教育，增强企业人员的企业价值观观念，营造良好的企业文化氛围，增强企业的品牌营销能力。2、面对国家政策环境的改变，企业应该在从别的地方入手，缓解融资困难问题。3、虽然本企业在房产方面处于龙头老大的地位，但是也应该正视本企业在发展方面各项指标增长率低于别的龙头企业的问题，采取措施，改善此现状，使本企业一直保持良好

45、的发展前景。文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK

46、3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY1

47、0T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2

48、U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:

49、CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 H

50、Y10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 ZJ2U6V7C4Y4文档编码:CK3R3H1A1L7 HY10T1A8F8S2 Z