携程网英语财务分析

The Financial Data AnalysisCtrip制作人：- 2 -ContentI. COMPANY OVERVIE. 3II. CTRIPS SOURSE OF INCOME 3III. SUMMARY OF ACCOUNTING AND FINANCIAL INFORMATION 4IV. CODA 9V. References 10- 3 -I. COMPANY OVERVIEWC International, Ltd. is a leading travel service provider that offers hotel reservations, airline tickets and packaged tours to business and leisure travelers in China. Ctrip aggregates information on hotels, flights and vacation packages, and enable the customers to make informed and cost-effective travel bookings. Ctrip targets primarily frequent independent travelers in China who do not travel in group. These travelers form a traditionally under-served yet fast-growing segment of the China travel industry.II. CTRIPS SOURSE OF INCOME(1) Hotel booking agency fee, which is the main source of profit Ctrip. While Ctrip also clear front-line payment and pay the difference, but most of the hotel front desk only to the destination that payment method. So, Ctrips hotel booking agency costs is basically the profit from the destination hotel discounts in return obtained;(2) Ticket booking fee, which is the booking fee from the customer to obtain, is equal to the customer booking fee and airline ticket price difference;- 4 -(3) Walks in the hotel and business travel, air ticket booking agency fees, the income approach is consistent with the previous two;(4) Online advertising;III. SUMMARY OF ACCOUNTING AND FINANCIAL INFORMATIONCtrip financial analysis2010 2009 increaseTotal income 2,881.23 1,988.01 44.93%Gross profit 2,255.97 1,537.40 46.74%Income StatementNet profit 1,048.07 658.97 59.05%Current assets 4,570.91 2,306.30 98.19%Total assets 8,116.20 4,156.76 95.25%Current liabilities 1,880.90 1,158.54 62.35%Total liabilities 2,012.51 1,231.71 63.39%Balance SheetEquity 6,103.69 2,925.05 108.67%Net profit 1,051.99 666.77 57.77%Operating activities 1,550.22 1,027.59 50.86%investing activities -2,440.40 -762.37 220.11%financing activities 1,625.35 96.86 1578.04%Cash FlowNet Change in Cash 719.32 364.79 97.19%- 5 -Through the table above， we can see that, in 2010 Ctrips revenues grew by 44.93%, indicating the scale of the business has expanded. Well-controlled operating costs resulted in the growth of gross margin rate, etc, reasonable cost control ultimately lead the net profit increased by 59.05%, which a great symbol of companys good condition.Finance Index analysisCtrip2010 Ctrip2009 IncreaseCurrent ratio 2.43 1.99 0.22 Current Assets Turnover 0.84 0.86 -0.03 Net profit margin 35.31% 34.22% 3.19%Operating margin 37.13% 36.59% 1.48%Return on average assets 4.11% 16.06% -74.41%Main index entryReturn on average equity 20.32% 3.22% 531.06%Every dollar of operating profit margin, said net sales revenue in looking for, the higher the ratio, indicating the charge through the ability to expand sales to get stronger. Enterprises in their efforts to expand sales, increase the amount of sales revenue, while management must be improved to reduce costs, to a corresponding increase in net profit, the sales volume remained - 6 -unchanged or increased. From the table data showed net sales relatively stable, indicating the relatively stable business conditions, market competitive, but also into a rising trend, with an average return on equity is high, indicating the companys growth potentialCtrip and eLong integrated financial index analysisCtrip2010 ELong2010 Ctrip2009 ELong2009Current ratio 2.43 1.63 1.99 1.30 Current Assets Turnover 0.84 2.67 0.86 1.08 Net profit margin 35.31% 4.03% 34.22% 3.18%Operating margin 37.13% 9.19% 36.59% 9.58%Return on average assets 4.11% 1.68% 16.06% 0.33%Main index entryReturn on average equity 20.32% 1.93% 3.22% 0.54%0.000.501.001.502.002.50Ctrip2010 ELong2010 Ctrip2009 ELong2009Current ratioCurrent ratio- 7 -0.000.501.001.502.002.503.00Ctrip2010 ELong2010 Ctrip2009ELong2009Current Assets TurnoverCurrent Assets Turnover0.00%10.00%20.00%30.00%40.00%Ctrip2010 ELong2010 Ctrip2009 ELong2009Net profit marginNet profit margin- 8 -0.00%10.00%20.00%30.00%40.00%Ctrip2010 ELong2010 Ctrip2009 ELong2009Operating margiOperating margi0.00%5.00%10.00%15.00%20.00%Ctrip2010ELong2010Ctrip2009ELong2009Return on average assetsReturn on average assets0.00%5.00%10.00%15.00%20.00%25.00%Ctrip2010ELong2010Ctrip2009ELong2009Return on average equityReturn on average equity- 9 -IV. CodaAll above, Ctrip is a well-known enterprise which is obviously better than Elong from the data. Moreover, The quality of life and travel services,today ,is advocated.Its that to say, the quality of service and convenient travel are more and more important. Ctrip has realized this early. They have paid attention to keep better quality of service products.From the analysis above，we can see that, in 2010 ，Ctrips revenue have a great growth , indicating the scale of the business has expanded. Well-controlle