摘要：现代企业要想在市场经济中得以发展壮大，稳健的盈利能力和良好的财务状况必不可少。如何全面分析企业的财务状况，了解其盈利营运能力水平是每个公司决策高层必须面临的难题。在企业的经营过程中，财务报表作为会计主体提供的反映企业各种财务状况和经营成果的重要形式，是企业运作中不可或缺的一部分。企业人员通过企业各种报表所反映的情况，运用相关的财务专业方法对其加以计算分析，可以清楚地了解企业的现状和综合能力，明晰企业运作中的各种问题。利用杜邦分析体系，可以帮助决策者更好的评价企业财务状况，了解企业经营成果。它围绕着净资产收益率这个核心指标，层层将其分解，可以清晰地得到企业的整体财务结构和经营战略，是重要的财务分析方法之一。35739
本文从杜邦分析体系的基础理论开始介绍，选取中国长江航运集团南京油运股份有限公司2008年到2013年年报中的相关财务数据，将“净资产收益率”指标分解为销售净利润率、权益乘数和总资产周转率三个指标的乘积，运用因素分析法，研究三个指标对长油公司净资产收益率产生的影响。采用连环替代法确定关键因素后再深入分解，最终探究造成长油净资产收益率下滑的根本原因。针对长油公司在经营过程中暴露的问题，明晰公司所处的发展环境，并提出相应的合理化建议。由此引申出对企业该如何应用杜邦分析体系的思考并提出实践建议。最后，分析传统杜邦分析体系的不足与局限性，对其进行了简单的改进及应用分析。
毕业论文关键词：长油公司　杜邦财务分析体系　净资产收益率　财务指标
Application of DuPont financial analysis system—Case study based on ST Chang You
Abstract:For the modern enterprise, the steady ability of gaining and the good financial condition is essential to develop in the market economy. The decision-making leaders of every company have difficulty in analyzing the financial situation of the enterprise comprehensively and understanding the level of its capabilities in operation. The financial statements, as the important form of the enterprise's financial situation and business performance provided by the accounting entity, are an indispensable part in the course of enterprise operation. According to the various statements reflected and the result of calculation and analysis applied by relevant financial method, enterprise personnel can clearly understand the status of enterprise ,comprehensive ability, and various problems in the corporate operation. Taking advantage of the DuPont analysis system, decision-makers can better evaluate the financial situation of enterprises and understand the results of business performance. DuPont analysis system embraces ROE(return on equity) ,the core index, and make it decomposed layer by layer to get the whole financial structure and business strategy of the enterprise clearly, which is one of the important methods of financial analysis.
This paper starts from the basic theory of Du Pont analysis system, and select the annual report in 2008 to 2013 about financial data of China Changjiang National Shipping Group Nanjing Tanker Corporation. Then, it decomposes ROE into product of three indicators, sales net profit rate, equity multiplier, and the total assets turnover rate and uses factor analysis method, so as to study influence of three indicators in long oil company ROE. The adoption of serial substitution method helps determine the key factors followed by deep analysis, ultimately in order to explore the root cause of the decline in the yield of long oil ROE. With a view to the problems exposed during the operation of the long oil company, one should make clear the development environment of the company and put forward relevant reasonable suggestions. This inspires how the enterprise apply the DuPont analysis system and put forward practical advice. Finally ,the thesis analyzes the shortcomings and limitations of the traditional DuPont analysis system and makes simple improvement and application analysis.. 杜邦财务分析体系的应用基于ST长油的分析+SWOT分析:http://www.youerw.com/kuaiji/lunwen_33829.html