Summary Of Main Financial Analysis Indicators Of Listed Companies

For listed companies, financial statements are very important.

How to correctly analyze the financial statements of listed companies, tap the companies that have real investment value and get a satisfactory investment reward from investment is the most concerned problem for investors.

Because of the changing trend of the financial statements of listed companies, the analysis of their interrelationships can determine the business efficiency and reasonable investment value of the listed companies, which helps investors grasp the trend of stock price change and reduce the risk of investing in stocks.

Therefore, the annual financial reports and interim financial reports published by listed companies are the basic information sources of investors and the "target responsibility book" of corporate governance of listed companies.

In this regard, listed companies should attach great importance to the use of financial analysis, strengthen financial management awareness, in particular, seize the key financial indicators, thoroughly understand the significance of indicators, targeted study of corporate governance strategy of listed companies.

The index of financial analysis of listed companies is an index based on the balance sheet, profit statement, cash flow statement and other relevant data, which is used to evaluate and analyze the financial situation and operating results of enterprises. It reflects the advantages and disadvantages of enterprises in the operation process and the trend of development, thus providing important financial information for improving the financial management of enterprises and optimizing economic decisions.

The financial analysis index system of listed companies includes profitability index, operation capability index, development capability index and Solvency Index.

The profitability is the main mark to measure the management performance of an enterprise. It takes profits as the basic index to measure the return on investment.

The main indicators reflecting profitability are operating profit margin, total assets return rate and roe. The higher the three indicators, the stronger the market competitiveness of enterprises, the greater the development potential and the stronger profitability.

High operating profit rate, high total assets yield and high return on net assets are the signs of strong profitability of listed companies.

Development capability is the potential ability of survival and development, and the core is growth ability. It measures its strength with the growth of income and assets and capital.

The main indicators include operating income growth rate, capital maintenance and appreciation rate, capital accumulation rate and total assets growth rate.

The "four rate" is the "four high" as the advanced symbol.

The higher the index, the greater the potential of enterprises, the better the market prospect, the stronger the ability of sustainable development.

The operation capability reflects the degree of the total assets and their constituent elements to the business objectives of enterprises. In essence, turnover capacity depends on many factors such as asset turnover speed, asset management level and so on.

The main indicators include accounts receivable turnover, inventory turnover, turnover of current assets, turnover of fixed assets and turnover of total assets. These five indicators are generally higher and better in general.

Accounts receivable turnover rate is high, inventory turnover rate is high, turnover rate of current assets is high, fixed assets turnover rate is high and total assets turnover rate is high. "Five high" indicates that assets turnover speed is fast, efficiency is high, and enterprise operation ability is strong.

Debt paying ability is the ability to repay debts, and the Solvency Index is divided into short-term debt paying ability index and long-term debt paying ability index.

The short-term debt paying ability indicators are mainly current ratio, quick ratio and cash ratio. These three indicators are based on the principle of moderation.

Generally speaking, the higher the liquidity ratio, the quick ratio and the cash ratio, the stronger the short-term debt paying ability of the enterprise, but the higher the better, the higher the ratio is the use of assets.

The lower it is.

It is generally believed that the liquidity ratio is not less than 2, while the quick ratio is maintained at 1, and the cash ratio is more than 0.2.

The moderate ratio of liquidity ratio, quick ratio and cash ratio reflects the relative balance between debt paying ability and profitability of enterprises, reflecting the safety and scientific level of operation and development of enterprises.

The long-term debt paying ability indicators include asset liability ratio, capital liability ratio (property rights ratio), interest protection multiple (interest earned multiple), and they are moderately good.

The ratio of assets to liabilities is 0.5, the standard value of the property ratio is 1, and the interest guarantee ratio should be at least 1, and 3 is appropriate.

The moderate index of asset liability ratio, capital liability ratio and interest guarantee ratio reflects the relatively moderate state of financial risk and return on investment, which is a relatively rational index for the protection of creditors' rights and interests.

The above analysis indicators reflecting enterprise profitability, development capability, operation capacity and solvency are suitable for all enterprises.

And stock profitability is the key and special index of listed companies, and also the core of financial analysis indicators of listed companies, reflecting the ability of investment return of listed companies.

Listed companies attach great importance to the analysis, research and application of their needs.

First, earnings per share. It is the most important financial analysis index to measure the profitability of listed companies, reflecting the profit level of common stock.

Generally speaking, earnings per share reflects the rise and fall of stock prices, reflecting the stock market and trend.

Two is net assets per share, which is book value per share or equity per share, reflecting the share price per share.

The net asset value of a company represents the quality of its assets and is an important basis for supporting the stock market price.

Usually the higher the net asset per share is, the greater the net asset value per share indicates that the greater the wealth per share represents, the greater the current value of assets owned by shareholders.

The ability and the ability to resist the influence of external factors are stronger.

The three is the price earnings ratio, which is the multiple of the common stock per share price per share, which reflects the price that the investor is willing to pay for the net profit per dollar. It is the common expectation index of the market to the listed enterprises, and can be used to estimate the investment reward and risk of the stock.

In the case of earnings per share, the higher the market price, the higher the P / E ratio, the greater the risk.

But the high price earnings ratio also shows that the stock market is highly praised by the market, and the listed companies can obtain social trust and have good prospects.

Too high or too low is the basic basis for stock market analysis.

The four is dividend payout rate, which refers to the proportion of dividends in net income, reflects the dividend distribution policy and dividend payout ability of listed companies, and is also the main basis for measuring the value of stock investment.

Because cash dividend distribution has a strong information content, it is a barometer of whether the financial situation is good, so this index is increasingly valued by investors.

The profit level of stocks depends fundamentally on the operation of listed companies.

The above four basic indicators that reflect the level of stock profits are concentrated on one point, and the core is corporate profits.

Profits are high, earnings per share are high, net assets per share are large, P / E ratio is reasonable, investment risk is small, and investment return is high and stable. This is the situation that stock investors hope, and is also the pursuit goal of listed business operators.

So in a sense, "profit first" represents the common interests of controlling shareholders, circulating shareholders and the actual controllers of enterprises.

Otherwise, if the net profit of the two accounting years of a listed company is negative, or the net assets per share is lower than the face value of the stock in the latest accounting year, the state stipulates the implementation of the "SpecialTreatment" system, that is, the special treatment (ST) system. If the listed company loses three consecutive years' losses, the ST will become *ST and raise the delisting early-warning.

ST class stocks have to change the status quo of continuous losses if they want to take off the *ST hat. They must be earnings per share, net assets per share and net profit index excluding non recurring gains and losses at the same time.

This rigid rule is rigid restrictions on listed companies, and listed companies must start with alarm bells at the very beginning and take precautionary measures.