中国石化公司的短期偿债能力的比率分析.doc

中国石化公司的短期偿债能力的比率分析年份20012010200920082007存货20341700000015654600000014161100000095255000000116049000000流动资产合计327588000000249450000000189223000000148007000000181535000000流动负债合计429073000000325627000000301362000000258233000000261757000000流动比率0.76 0.77 0.63 0.57 0.69 速动比率0.29 0.29 0.16 0.20 0.25 由上表可知中国石化的流动比率整体上呈上升的趋势，只有2008年因为金融危机而有所下降。流动比率反映短期偿债能力，说明中国石化的短期偿债能力比较好.速动比率越高，说明企业的流动性越强，流动负债的的安全程度越高。所以总体来说，中国石化的流动性是越来越强的。短期偿债能力的趋势分析中国石化流动性与短期偿债能力的绝对数额分析项目20112010200920082007货币资金2519700000018140000000998600000077000000008364000000应收票据27961000000159500000002110000000365900000012851000000应收账款5872100000043093000000265920000001298900000022947000000存货20341700000015654600000014161100000095255000000116049000000流动资产合计327588000000249450000000189223000000148007000000181535000000短期借款3698500000029298000000349000000006397200000036954000000应付票据59330000003818000000231110000001749300000012162000000应付账款177002000000132528000000977490000005666700000093049000000流动负债合计429073000000325627000000301362000000258233000000261757000000经营活动产生的现金流量净额15118100000017126200000015879600000074883000000124250000000由上表可以看出，中国石化的流动资产和流动负债总的来说都呈上升的趋势，同时经营活动产生的现金流量净额也呈上升的趋势。只有2008年由于金融危机，出现了特殊情况。在流动资产中，货币资金 应收票据 应收账款都呈上升趋势，存货规模相对比较稳定。由此可见，流动资产规模的上升，主要是应收项目和货币资金增加所致。在流动负债内部，短期借款 应付账款基本上呈上升的趋势，而应付票据总的来说呈下降的趋势中国石化流动性与短期偿债能力的环比趋势分析项目20102011环比变动额环比变动百分比货币资金1814000000025197000000705700000038.90%应收票据15950000000279610000001201100000075.30%应收账款43093000000587210000001562800000036.27%存货1565460000002034170000004687100000029.94%流动资产合计2494500000003275880000007813800000031.32%短期借款2929800000036985000000768700000026.24%应付票据38180000005933000000211500000055.40%应付账款1325280000001770020000004447400000033.56%流动负债合计32562700000042907300000010344600000031.77%经营活动产生的现金流量净额171262000000151181000000-20081000000中国石化流动性与短期偿债能力的结构分析项目20112010200920082007货币资金2.23%1.84%1.15%1.02%1.16%应收票据2.47%1.62%0.24%0.49%1.79%应收账款5.20%4.37%3.07%1.73%3.19%存货18.00%15.89%16.34%12.66%16.15%流动资产合计28.99%25.31%21.84%19.68%25.26%资产总计100%100%100%100%100%短期借款5.96%5.50%7.49%15.94%9.42%应付票据0.96%0.72%4.96%4.36%3.10%应付账款28.52%24.88%20.98%14.12%23.72%流动负债合计69.15%61.13%64.69%64.35%66.74%负债和股东权益100%100%100%100%100%中国石化财务风险与长期偿债能力的绝对数额趋势分析项目20112010200920082007资产总计1130050000000985389000000866475000000752235000000718572000000负债合计620528000000532707000000465890000000401289000000392225000000所有者权益合计509525000000452682000000400585000000350946000000326347000000经营活动产生的现金流量净额15118100000017126200000015879600000074883000000124250000000息税前利润102638000000102178000000800760000002422600000082911000000中国石化财务风险与长期偿债能力的环比趋势分析项目20102011环比变动额环比变动百分比资产总计985389000000113005000000014466100000014.68%负债合计5327070000006205280000008782100000016.49%所有者权益合计4526820000005095250000005684300000012.56%经营活动产生的现金流量净额171262000000151181000000-20081000000无意义息税前利润1021780000001026380000004600000000.45%中国石化财务风险与长期偿债能力的结构分析项目20112010200920082007流动负债合计37.97%33.05%34.78%34.33%36.43%长期负债与递延税款贷项合计6.15%7.50%6.58%9.33%11.02%股东权益合计45.09%45.94%46.23%46.65%45.42%负债和股东权益合计100%100%100%100%100%中国石化长期偿债能力的比率分析表资产负债率54.91%54.06%53.77%53.35%54.58%股权比率45.09%45.94%46.23%46.65%45.42%权益乘数2.222.182.162.142.2负债与股权比率1.221.181.161.141.2债务与有形净值比率1.311.251.231.21.26利息保障倍数16.6815.9212.413.781