电力公司财务预测与估值模型 Power Company Model费.xls

诚迅金融培训 第 1 页 共 13 页 电电力力公公司司财财务务预预测测与与估估值值模模型型 Financial Projection and Valuation Model Power Company 模模型型说说明明 Notes颜颜色色区区分分 Colors 会计年度末 Fiscal year end12月31日 Dec 3111 4 货币 Currency人民币 RMB11 4 数量单位 Unit百万 Million 分析员 Analyst11 4 电话 Telephone number 最后修改日期 Last modified 诚迅金融培训 第 2 页 共 13 页 输入数字假设 可以变动 Assumption can be changed 历史或给定数字 不能变动 Historical or given number can not be changed 公式 不能变动 Formula can not be changed 模型的批注 Comment 电电力力公公司司财财务务预预测测与与估估值值模模型型 Financial Projection and Valuation Model Power Company 颜颜色色区区分分 Colors 诚迅金融培训 第 3 页 共 13 页 电电力力公公司司 Power Company 目目录录 Contents 工作表名称工作表标签 Sheet nameSheet label 1财务预测 Financial forecast 收入预测表Revenues 固定资产表PP E 融资计划表Financing 中间计算表Cals 利润表IS 资产负债表BS 现金流量表CFS 比率表Ratios 2估值模型 Valuation model 折现现金流模型DCF 可比公司法Comps 诚迅金融培训 第 4 页 共 13 页 电电力力公公司司 Power Company 收收入入预预测测表表 Revenues 预测预测预测 单位 百万元人民币 特殊说明除外 RMB millions unless otherwise stated2006A2007A2008A2009E2010E2011E2012E2013E2014E2015E2016E2017E2018E 本本表表假假设设 Assumptions 三峡总投产机组数 台 Three Gorges generating units units 21 026 026 026 026 026 026 026 026 026 026 026 0 三峡单机组装机容量 百万千瓦 Installed capacity per generating unit of Three Gorges GW 0 70 70 70 70 70 70 70 70 70 7 三峡机组年发电小时数 小时 Annual utilization hours of Three Gorges generators hours 4 653 84 653 84 653 84 653 84 653 84 653 84 653 84 653 84 653 84 653 8 三峡机组上网率 Three Gorges generators on grid electricity as of electricity produced100 0 100 0 100 0 100 0 100 0 100 0 100 0 100 0 100 0 100 0 三峡机组平均上网电价 不含税 元 度 Average on grid price of electricity generated by Three Gorges generators VAT excl yuan kwh 0 260 260 270 270 280 280 290 290 300 31 新收购三峡机组数 台 Number of Three Gorges generators newly purchased by the Power Company units 18 00 00 00 00 00 00 00 00 00 0 葛洲坝机组总装机容量 百万千瓦 Installed capacity of Gezhouba generators GW 2 72 72 72 72 72 72 72 72 72 72 72 7 葛洲坝机组年发电小时数 小时 Annual utilization hours of Gezhouba generators hours 5 782 75 782 75 782 75 782 75 782 75 782 75 782 75 782 75 782 75 782 7 葛洲坝平均上网率 Gezhouba generators on grid electricity as of electricity produced100 0 100 0 100 0 100 0 100 0 100 0 100 0 100 0 100 0 100 0 葛洲坝机组平均上网电价 不含税 元 度 Average on grid price of electricity generated by Gezhouba generators VAT excl yuan kwh 0 180 180 180 190 190 200 200 200 210 21 三三峡峡机机组组电电费费收收入入 Revenue from Three Gorges generators 三峡总投产机组数 台 Three Gorges generating units units 21 026 0 三峡单机组装机容量 百万千瓦 Installed capacity per generating unit of Three Gorges GW 总装机容量 百万千瓦 Total installed capacity GW 18 2 年发电小时数 小时 Annual utilization hours hours 发电量 百万度 Electricity produced GWH 61 603 080 812 0 上网率 On grid electricity as of electricity produced 上网电量 百万度 On grid electricity GWH 平均上网电价 不含税 元 度 Average on grid price VAT excl yuan kwh 电费收入 Total revenue from Three Gorges generators 已收购机组数 台 Number of Three Gorges generators purchased by the Power Company units 8 08 0 分电比例 Electricity attributable to the Power Company as of total electricity produced 电电力力公公司司电电费费收收入入 Revenue attributable to the Power Company 三峡总公司电费收入 Revenue attributable to the Three Gorges Corporation6 219 87 069 811 656 1 葛葛洲洲坝坝机机组组电电费费收收入入 Revenue from Gezhouba generators 总装机容量 百万千瓦 Total installed capacity GW 2 72 7 年发电小时数 小时 Annual utilization hours hours 发电量 百万度 Electricity produced GWH 15 464 017 048 0 平均上网率 On grid electricity as of electricity produced 上网电量 百万度 On grid electricity GWH 平均上网电价 不含税 元 度 Average on grid price VAT excl yuan kwh 电电费费收收入入 Revenue from Gezhouba generators 主主营营业业务务收收入入 Main business revenue ABCDEFGHIJKLMNO 12 34 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 诚迅金融培训 第 5 页 共 13 页 电电力力公公司司 Power Company 固固定定资资产产表表 Property Plant and Equipment 预测预测预测 单位 百万元人民币 特殊说明除外 RMB millions unless otherwise stated2006A2007A2008A2009E2010E2011E2012E2013E2014E2015E2016E2017E2018E 本本表表假假设设 Assumptions 固定资产购建 收购三峡机组 Purchase of fixed assets purchase of Three Gorges generators107 500 00 00 00 00 00 00 00 00 00 0 固定资产购建 维护性支出 上一年固定资产净值 Purchase of fixed assets repairment cost as of beginning fixed assets0 4 0 4 0 5 0 6 0 6 0 7 0 8 0 8 0 9 1 0 已存固定资产折旧 Depreciation of fixed assets purchased before 20091 900 01 820 01 740 01 660 01 580 01 500 01 420 01 340 01 260 01 180 0 固固定定资资产产购购建建 Purchase of fixed assets 固定资产购建 收购三峡机组 Purchase of fixed assets purchase of Three Gorges generators 固定资产购建 维护性支出 Purchase of fixed assets repairment cost 固固定定资资产产购购建建 Purchase of fixed assets 折折旧旧 Depreciation 折旧年限 年 Useful year25 0折旧年份 Year of depreciation2009201020112012201320142015201620172018 残值率 Residual value rate0 0 折旧率 Depreciation rate 购建年份 Year of purchase固定资产购建 Purchase of fixed assets 20090 0 2010 2011 2012 2013 2014 2015 2016 2017 2018 新增固定资产折旧 Depreciation of fixed assets purchased since 2009 已存固定资产折旧 Depreciation of fixed assets purchased before 2009 折折旧旧 Total depreciation 固固定定资资产产净净值值 Fixed assets net 期初值 Beginning balance 固定资产购建 Purchase of fixed assets 折旧 Depreciation 期末值 Ending balance40 502 1 ABCDEFGHIJKLMNO 12 34 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 诚迅金融培训 第 6 页 共 13 页 电电力力公公司司 Power Company 融融资资计计划划表表 Financing 预测预测预测 单位 百万元人民币 特殊说明除外 RMB millions unless otherwise stated2006A2007A2008A2009E2010E2011E2012E2013E2014E2015E2016E2017E2018E 本本表表假假设设 Assumptions 短期借款发行 偿还 Issuance repayment in short term loan2 287 3 2 463 0 17 500 0 17 500 0 0 00 00 00 00 00 00 00 0 循环贷款及短期借款利率 Interest rate of short term loan and financing gap5 3 5 3 5 3 5 3 5 3 5 3 5 3 5 3 5 3 5 3 长期借款发行 偿还 Issuance repayment in long term loan 1 700 0 0 041 000 010 000 00 00 00 00 00 00 00 00 0 长期借款利率 Interest rate of long term loan5 3 5 3 5 3 5 3 5 3 5 3 5 3 5 3 5 3 5 3 应付债券发行 减少 Issuance repayment in bonds payable3 950 65 120 000 0 3 000 0 2 000 0 0 00 00 00 0 3 000 0 3 955 7 0 0 应付债券利率 Interest rate of bonds payable4 8 4 8 4 8 4 8 4 8 4 8 4 8 4 8 4 8 4 8 货币资金利率 Deposit interest rate1 2 1 2 1 2 1 2 1 2 1 2 1 2 1 2 1 2 1 2 新股发行数量 百万股 Number of shares newly issued million 0 00 01 551 60 00 00 00 00 00 00 00 00 0 新股发行价格 元 Share issue price yuan per share 12 890 000 000 000 000 000 000 000 000 00 债债务务融融资资 Debt financing 融资缺口 Financing gap0 0 循环贷款利率 Interest rate of financing gap 循环贷款利息费用 Interest expense of financing gap 短期借款 Short term loan5 590 8 短期借款利率 Interest rate of short term loan 短期借款利息费用 Interest expense of short term loan 长期借款 Long term loan6 800 0 长期借款利率 Interest rate of long term loan 长期借款利息费用 Interest expense of long term loan 应付债券 Bonds payable3 955 7 应付债券利率 Interest rate of bonds payable 应付债券利息费用 Interest expense of bonds payable 债债务务合合计计 Total debt16 346 5 利利息息费费用用合合计计 Total interest expenses 货币资金 Cash2 470 5 货币资金利率 Deposit interest rate 货币资金利息收入 Interest income of cash 财财务务费费用用 Financial expenses 股股权权融融资资 Equity financing 新股发行数量 百万股 Number of shares newly issued million 已发行普通股数 百万股 Common shares outstanding million 9 412 19 412 1 新股发行价格 元 Share issue price yuan per share 股本及资本公积合计 Paid in capital and capital reserves27 351 6 重重要要指指标标 Important ratios 债务 总资本 Debt invested capital33 0 31 3 30 3 资产负债率 Total liabilities total assets39 3 35 9 34 9 每股盈利 元 股 Earnings per share yuan per share 0 380 570 42 ABCDEFGHIJKLMNO 12 34 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 诚迅金融培训 第 7 页 共 13 页 电电力力公公司司 Power Company 中中间间计计算算表表 Calculations 预测预测预测 单位 百万元人民币 特殊说明除外 RMB millions unless otherwise stated2006A2007A2008A2009E2010E2011E2012E2013E2014E2015E2016E2017E2018E 本本表表假假设设 Assumptions 无形资产购建 Purchase of intangible assets4 69 212 012 012 012 012 012 012 012 012 012 0 红利 上年净利润 Dividends as of previous year s net income52 0 52 0 52 0 52 0 52 0 52 0 52 0 52 0 52 0 52 0 应收款项 营业收入 三峡总公司电费收入 Accounts receivable as of the total of operating revenues and revenue attributable to the Three Gorges Corporation8 6 11 6 12 3 12 3 12 3 12 3 12 3 12 3 12 3 12 3 12 3 12 3 12 3 其他流动资产 营业收入 Other current assets as of operating revenues2 8 2 1 2 4 2 4 2 4 2 4 2 4 2 4 2 4 2 4 2 4 2 4 2 4 应付款项 三峡总公司电费收入 Accounts payable as of revenue attributable to the Three Gorges Corporation9 5 9 5 9 5 9 5 9 5 9 5 9 5 9 5 9 5 9 5 9 5 应交税费 当期所得税 Taxes payable as of current income tax49 9 40 4 55 4 55 4 55 4 55 4 55 4 55 4 55 4 55 4 55 4 55 4 55 4 其他应付款 营业成本 Other accounts payable as of operating costs52 3 67 2 75 3 75 3 75 3 75 3 75 3 75 3 75 3 75 3 75 3 75 3 75 3 无无形形资资产产净净值值 Intangible assets net 期初值 Beginning balance 无形资产购建 Purchase of intangible assets 摊销 Amortization 期末值 Ending balance22 5 留留存存收收益益 Retained earnings 期初值 Beginning balance 净利润 Net income 红利 Dividends 期末值 Ending balance10 215 5 经经营营性性营营运运资资金金 OWC Operating working capital 应收款项 Accounts receivable 其他流动资产 Other current assets 应付款项 Accounts payable 应交税费 Taxes payable 其他应付款 Other accounts payable 经经营营性性营营运运资资金金 OWC Operating working capital ABCDEFGHIJKLMNO 12 34 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 诚迅金融培训 第 8 页 共 13 页 电电力力公公司司 Power Company 利利润润表表 Income Statement 预测预测预测 单位 百万元人民币 特殊说明除外 RMB millions unless otherwise stated2006A2007A2008A2009E2010E2011E2012E2013E2014E2015E2016E2017E2018E 本本表表假假设设 Assumptions 其他业务收入 三峡总公司电费收入 Other business revenue as of revenue attributable to the Three Gorges Corporation2 1 2 1 2 1 2 1 2 1 2 1 2 1 2 1 2 1 2 1 2 1 补贴收入 主营业务收入 Subsidy income as of main business revenue9 0 8 7 8 5 9 0 9 0 9 0 9 0 9 0 9 0 9 0 9 0 9 0 9 0 主营业务成本 主营业务收入 Main business cost as of main business revenue9 5 8 3 14 5 11 0 11 0 11 0 11 0 11 0 11 0 11 0 11 0 11 0 11 0 其他业务成本 其他业务收入 Other business cost as of other business revenue80 1 129 1 107 5 100 0 100 0 100 0 100 0 100 0 100 0 100 0 100 0 100 0 100 0 营业税金及附加 主营业务收入 Business tax and surcharges as of main business revenue1 6 1 6 1 6 1 6 1 6 1 6 1 6 1 6 1 6 1 6 1 6 1 6 1 6 销售费用 Sales expenses1 62 21 42 02 02 02 02 02 02 02 02 02 0 管理费用增长率 Administrative expenses growth rate19 7 2 0 8 0 8 0 8 0 8 0 8 0 8 0 8 0 8 0 8 0 8 0 摊销 Amortization4 112 012 012 012 012 012 012 012 012 012 012 012 0 资产减值损失 Impairment loss 1 4 0 40 80 00 00 00 00 00 00 00 00 00 0 公允价值变动收益 Gains losses from changes in fair value of financial assets 11 7 0 00 00 00 00 00 00 00 00 00 00 00 0 投资收益 Investment income870 02 094 8439 2635 30 00 00 00 00 00 00 00 00 0 营业外净收入 Net non operating income11 6 17 8 15 3 0 00 00 00 00 00 00 00 00 00 0 所得税率 Income tax rate32 8 29 2 24 2 25 0 25 0 25 0 25 0 25 0 25 0 25 0 25 0 25 0 25 0 收收入入 Revenues 主营业务收入 Main business revenue6 917 88 577 58 563 1 其他业务收入 Other business revenue131 3157 9244 0 补贴收入 Subsidy income619 8742 2725 4 营营业业收收入入 Operating revenues7 669 09 477 69 532 5 主营业务成本 Main business cost659 6709 01 241 3 其他业务成本 Other business cost105 2203 9262 3 营营业业成成本本 Operating Costs764 8912 81 503 5 营业税金及附加 Business tax and surcharges109 2134 0140 6 销售费用 Sales expenses1 62 21 4 管理费用 Administrative expenses248 6297 7303 6 EBITDA Earnings before interest taxes depreciation and amortization 6 544 88 130 97 583 3 折旧 Depreciation1 325 41 737 01 907 6 摊销 Amortization4 112 012 0 EBIT Earnings before interest and taxes 5 215 26 381 95 663 7 财务费用 Financial expenses707 2865 5901 8 资产减值损失 Impairment loss 1 4 0 40 8 公允价值变动收益 Gains losses from changes in fair value of financial assets 11 7 0 00 0 投资收益 Investment income870 02 094 8439 2 营业外净收入 Net non operating income11 6 17 8 15 3 利利润润总总额额 Pre tax profit5 379 47 592 95 185 0 所所得得税税费费用用 Income tax1 764 12 220 41 254 6 递延所得税费用 Deferred tax 3 8 11 1 87 4 当期所得税费用 Current income tax1 767 92 231 51 342 0 净净利利润润 Net income3 615 25 372 53 930 4 已发行普通股数 百万股 Common shares outstanding million 9 412 19 412 19 412 1 每每股股盈盈利利 元元 股股 Earnings per share yuan per share 0 380 570 42 ABCDEFGHIJKLMNO 12 34 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 诚迅金融培训 第 9 页 共 13 页 电电力力公公司司 Power Company 资资产产负负债债表表 Balance Sheet 预测预测预测 单位 百万元人民币 特殊说明除外 RMB millions unless otherwise stated2006A2007A2008A2009E2010E2011E2012E2013E2014E2015E2016E2017E2018E 本本表表假假设设 Assumptions 非核心资产 Non core assets10 187 017 044 811 793 911 793 911 793 911 793 911 793 911 793 911 793 911 793 911 793 911 793 911 793 9 递延所得税资产 Deferred tax assets4 314 2101 714 014 014 014 014 014 014 014 014 014 0 递延所得税负债 Deferred tax liabilities2 249 02 256 1847 1847 1847 1847 1847 1847 1847 1847 1847 1847 1847 1 资资产产 Assets 货币资金 Cash2 523 22 798 42 470 5 应收款项 Accounts receivable1 199 41 923 42 616 1 其他流动资产 Other current assets215 3202 8232 8 流流动动资资产产合合计计 Total current assets3 937 84 924 65 319 4 非核心资产 Non core assets10 187 017 044 811 793 9 固定资产净值 Fixed assets net33 474 142 305 240 502 1 无形资产净值 Intangible assets net32 725 222 5 递延所得税资产 Deferred tax assets4 314 2101 7 资资产产总总计计 Total assets47 635 964 314 157 739 4 负负债债和和股股东东权权益益 Liabilities and shareholders equity 融资缺口 Financing gap0 00 00 0 短期借款 Short term loan5 766 58 053 85 590 8 应付款项 Accounts payable916 5484 61 103 5 应交税费 Taxes payable882 0902 6743 1 其他应付款 Other accounts payable400 1613 11 132 2 流流动动负负债债合合计计 Total current liabilities7 965 010 054 28 569 5 长期借款 Long term loan8 500 06 800 06 800 0 应付债券 Bonds payable0 03 950 63 955 7 递延所得税负债 Deferred tax liabilities2 249 02 256 1847 1 负负债债合合计计 Total liabilities18 714 023 060 920 172 3 股本及资本公积 Paid in capital and capital reserves23 000 632 174 427 351 6 留存收益 Retained earnings5 921 29 078 810 215 5 股股东东权权益益合合计计 Shareholders equity28 921 841 253 237 567 1 负负债债和和股股东东权权益益总总计计 Liabilities and shareholders equity47 635 964 314 157 739 4 平平衡衡吗吗 Balance checkOKOKOK ABCDEFGHIJKLMNO 12 34 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 诚迅金融培训 第 10 页 共 13 页 电电力力公公司司 Power Company 现现金金流流量量表表 Cash Flow Statement 预测预测预测 单位 百万元人民币 特殊说明除外 RMB millions unless otherwise stated2006A2007A2008A2009E2010E2011E2012E2013E2014E2015E2016E2017E2018E 本本表表假假设设 Assumptions 所需现金 营业收入 Minimum cash balance as of operating revenues3 0 3 0 3 0 3 0 3 0 3 0 3 0 3 0 3 0 3 0 经经营营活活动动现现金金流流 Cash flow from operating activities 净利润 Net income 折旧 Depreciation 摊销 Amortization 财务费用 Financial expenses 公允价值变动收益 Gains losses from changes in fair value of financial assets 投资收益 Investment income 营运资金减少 增加 Dec inc in OWC 递延所得税资产减少 增加 Dec inc in deferred tax assets 递延所得税负债增加 减少 Inc dec in deferred tax liabilities 经经营营活活动动现现金金流流 Cash flow from operating activities 投投资资活活动动现现金金流流 Cash flow from investing activities 公允价值变动收益 Gains losses from changes in fair value of financial assets 投资收益 Investment income 非核心资产减少 增加 Dec inc in non core assets 固定资产购建 Purchase of fixed assets 无形资产购建 Purchase of intangible assets 投投资资活活动动现现金金流流 Cash flow from investing activities 融融资资活活动动现现金金流流 Cash flow from financing activities 偿还上期融资缺口 Repayment of beginning financing gap 财务费用 Financial expenses 短期借款增加 减少 Inc dec in short term loan 长期借款增加 减少 Inc dec in long term loan 应付债券增加 减少 Inc dec in bonds payable 股本及资本公积增加 减少 Inc dec in paid in capital and capital reserves 红利 Dividends 融融资资活活动动现现金金流流 Cash flow from financing activities 净现金流 Net cash flow 期初现金额 Beginning cash 融资缺口前的期末现金额 Ending cash before financing gap 现现金金分分配配 Cash distribution 所需现金 Minimum cash balance 多余现金 Excess cash 融资缺口 Financing gap 年底现金 Ending cash ABCDEFGHIJKLMNO 12 34 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 诚迅金融培训 第 11 页 共 13 页 电电力力公公司司 Power Company 比比率率表表 Ratios 预测预测预测 单位 百万元人民币 特殊说明除外 RMB millions unless otherwise stated2006A2007A2008A2009E2010E2011E2012E2013E2014E2015E2016E2017E2018E 关关键键数数字字 Key numbers 营业收入 Operating revenues7 669 09 477 69 532 50 0 EBITDA Earnings before interest taxes depreciation and amortization 6 544 88 130 97 583 30 0 EBIT Earnings before interest and taxes 5 215 26 381 95 663 70 0 所得税率 Income tax rate32 8 29 2 24 2 25 0 EBIAT Earnings before interest after taxes 3 504 94 515 64 293 30 0 净利润 Net income3 615 25 372 53 930 40 0 财务费用 Financial expenses707 2865 5901 80 0 融资缺口 Financing gap0 00 00 00 0 短期借款 Short term loan5 766 58 053 85 590 80 0 长期借款 Long term loan8 500 06 800 06 800 00 0 应付债券 Bonds payable0 03 950 63 955 70 0 债务合计 Total debt14 266 518 804 416 346 50 0 股东权益合计 Shareholders equity28 921 841 253 237 567 10 0 投入资本 Invested capital43 188 360 057 753 913 60 0 不含现金的投入资本 Invested capital excluding cash30 478 140 214 439 649 20 0 资产总计 Total assets47 635 964 314 157 739 40 0 经营活动现金流 CFO0 0 资本性支出 Capital expenditure Capex 0 0 成成长长性性指指标标 Growth indicators 营业收入增长率 Operating revenues growth rate23 6 0 6 100 0 EBITDA增长率 EBITDA growth rate24 2 6 7 100 0 EBIT增长率 EBIT growth rate22 4 11 3 100 0 净利润增长率 Net income growth rate48 6 26 8 100 0 盈盈利利性性指指标标 Profitability indicators 毛利率 Gross profit margin71 3 70 6 62 7 DIV 0 EBITDA 营业收入 EBITDA margin85 3 85 8 79 6 DIV 0 EBIT 营业收入 EBIT margin68 0 67 3 59 4 DIV 0 净利润率 Net income margin47 1 56 7 41 2 DIV 0 净资产收益率 ROE Return on equity 15 3 10 0 0 0 总资产回报率 ROA Return on total assets 9 6 6 4 0 0 投入资本回报率 ROIC Return on invested capital 8 7 7 5 0 0 不含现金的投入资本回报率 Return on invested capital excluding cash12 8 10 8 0 0 新投资的回报率 Return on newly invested capital6 0 3 6 8 0 偿偿债债能能力力指指标标 Solvency indicators 流动比率 Current ratio0 50 50 6 DIV 0 速动比率 Quick ratio0 50 50 6 DIV 0 现金比率 Cash ratio0 30 30 3 DIV 0 EBITDA 财务费用 EBITDA interest coverage ratio9 39 48 4 DIV 0 CFO 付息债务合计 CFO total debt DIV 0 运运营营能能力力指指标标 Operating indicators 应收款项周转率 Accounts receivable turnover 6 14 20 0 应付款项周转率 Accounts payable turnover 1 31 90 0 固定资产周转率 Fixed assets turnover 0 30 20 0 总资产周转率 Total assets turnover 0 20 20 0 杠杠杆杆比比率率 Leverage ratios 债务权益比率 Total debt shareholders equity49 3 45 6 43 5 DIV 0 资产负债率 Total liabilities total assets39 3 35 9 34 9 DIV 0 杜杜邦邦分分析析 DuPont analysis 净利润率 Net income margin56 7 41 2 DIV 0 总资产周转率 Total assets turnover 0 20 20 0 总资产回报率 ROA Return on total assets 9 6 6 4 DIV 0 平均总资产 平均股东权益 Average total assets average shareholders equity1 61 51 5 净资产收益率 ROE Return on equity 15 3 10 0 DIV 0 ABCDEFGHIJKLMNO 12 34 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23