【作者】 屈丽华；

【导师】 余学斌；

【作者基本信息】 武汉科技大学 ， 企业管理， 2005， 硕士

【摘要】 从19世纪末20世纪初财务报表分析产生开始,财务分析就是一个古老而又年轻的探讨课题。在探讨的发展过程中,财务报表的中包含的信息和研究方法,都不断地得到完善,同时,在财务分析的过程中也不断的发现问题,并且逐步开始关注报表外因素对所需信息的影响,不断完善财务分析理论,使之同财务分析的实践相结合,更好的指导财务分析的实践,为广大的报表使用者提供有效的数据和分析结果,帮助他们做出各种决策。本文从宏观层面上阐述了现今国内外财务分析的研究现状,以及上海市房地产行业的发展历程,从而开始了对上海市房地产上市公司的近几年的盈利能力进行了分析研究。通过对上海房地产几家上市公司进行较全面的盈利能力分析,阐述了上海市房地产上市公司的现阶段的获利水平,找出了上海市房地产上市公司在获利能力方面整体存在的几点主要的问题.在我国,对房地产上市公司进行全面盈利能力分析的研究还比较少,作者希望通过该文的写作,能够起到抛砖引玉的作用,将这方面的研究引入更深的层次. 在上述的整体思路下,本文内容的基本结构安排如下: 第一章阐述了财务分析的涵义和现今国内外财务分析的研究现状以及盈利能力分析及其指标体系。第二章阐述了沪市A股房地产上市公司盈利能力分析的研究内容。具体规范了本文研究中的思路的拟定,包括样本企业的选定,将要进行分析的财务指标的选定,本文数据的来源,以及本文进行研究所采用到的方法。第三章中本文首先阐述了上海市房地产市场从形成至今的演变过程,共经历了两个阶段四个周期,紧接着阐述了上海市房地产市场的行业现状。然后运用杜邦分析体系,重点分析了七家公司近六年的净资产收益率及其变化趋势,并按照杜邦分解体系,对影响净资产收益率的因素进行层层分解,进一步分析这些因素的近几年的变化趋势。通过层层分析,从而得出近几年沪市A股房地产上市公司盈利能力状况及其整体变化趋势的一些结论。第四章对本文做了整体性的回顾,并同时进行了研究展望。鉴于房地产市场开发周期长、投入资金量大、投资回收期长,现金流量不稳定等特点,本文只是在某一个面上做了初探性的研究,权作抛砖引玉,以期大家能进行更深入的探讨。更多还原

【Abstract】 From the end of 19 to the beginning of 20 centuries at which the financial report had started, the financial analysis has been an aged and vital study lesson. In its development, it is getting constantly perfect in the method of information containing and research at the same time, people found problems at the process of using it, and gradually paid attention to the factors outside which influence the information needed, continuously perfected financial analysis theories, combined the theories with the practice of financial analysis, then offered the valid data and analysis result for the user of financial report, and helped them to do all kinds of decisions. This paper expatiates the present research actuality of domestic and international from the macroscopic level, as well as the development process of the real estate of Shanghai then started to analysis research on the profit ability of the list real estate company of Shanghai in the last few years. By doing that ,I expatiated the current profit level at present stage, found out several main problems in profit ability of the list real estate company of Shanghai. In China, such kind of research is completely less, I hope the composes can give some inspiration and guidance to readers. Under the whole way of thinking, the paper’s basic construction is arranged as follows: Chapter one expatiates the define of the financial analysis and the present research condition, profit ability analysis and specific guideline of present financial analysis in domestic and abroad. Chapter two expatiates the specific contents of the profit ability of the A section list real estate companies of Shanghai. And work out the route of research, including the sample enterprise choosing and financial guideline choosing, the source of this paper and the method that adopted. Chapter three firstly expatiates the formation of the real estate market of Shanghai It departs into two stages and four periods totally, then expatiates the present profession condition of the real estate market of Shanghai Then made use of the Du Pont analyze system, analyzed six years’ clean property rate of return and its variety trends in seven companies, and resolve the system according to the Du Pont. Chapter four reviews the whole paper and proceeds the outlook research at the same time. Owing to the real estate market is a long development period, great invest funds, long period of invest return, unsteady of current cash. This paper just has done a beginning explores and I hope the composes can give some inspirations and guidance to readers.更多还原