摘要：随着世界经济的快速发展，物流行业的发展越来越迅速，一个国家物流基础的好坏也成为了其经济发展活跃程度的评价标准，物流行业为国家的经济发展做出了巨大的贡献。对上市物流公司进行财务效率研究，有助于管理者发现企业经营过程中存在的问题，从而利用合理的方法，提高企业内部的整体效益。本文选取了韵达物流公司作为研究对象，以该公司2011年至2016年六年的财务报表为依据，对公司的财务效率进行研究。具体通过研究韵达的偿债能力、营运能力、盈利能力和发展能力，采用杜邦分析法。同时，为了方便与同行业的企业进行比较，本文选取了顺丰物流进行对比，通过对比发现韵达存在的问题，从而提出有效的解决方案和建议。

关键词：物流公司；财务效率；韵达物流

Research Financial Efficiency Of Logistics Listed Companies OnAbstract

With the rapid development of world economy, the development of the   logistics industry more and more rapidly, a national logistics base quality has become the economic development level of activity evaluation criteria, the logistics industry has made great contribution to the economic development of the country. The study of the financial efficiency of listed logistics companies will help managers to find out the problems existing in the process of enterprise operation, and thus improve the overall efficiency of enterprises by using reasonable methods. This paper selects Yun Yun logistics company as the object of study, based on the company's financial statements for six years from 2011 to 2016, and studies the financial efficiency of the company. Specifically, through the study of the debt paying ability, operation ability, profitability and development ability of the company, Du Pont analysis method is adopted. At the same time, in order to facilitate the comparison with the industry, this article selects the SF logistics to compare, and through the comparison found the existence of problems, so as to put forward effective solutions and suggestions.

Key words: Logistics company;Financial efficiency;Yun Da Logistics

目 录

0引言 1

1财务效率研究概述 1

1.1财务效率定义 2

1.2财务效率分析指标体系构建的原则 2

1.3财务效率分析方法 2

2物流行业发展现状及案例公司简介 3

2.1物流行业发展现状 3

2.2韵达公司简介 4

3韵达物流公司财务效率分析 5

3.1能力分析——比率分析法及趋势分析法 5

3.1.1公司偿债能力分析比较 5

3.1.2公司营运能力分析比较 8

3.1.3公司盈利能力分析比较 12

3.1.4公司发展能力分析比较 14

3.2综合分析——杜邦分析法 15

4提高物流上市公司财务效率的建议 16

4.1优化资源配置，提升偿债能力 17

4.2调整产业结构，提升营运能力 17

4.3加强信息建设，提升盈利能力 17

4.4加强文化建设，提升发展能力