財務報告與財務報表分析

,,單擊此處編輯母版標題樣式,,單擊此處編輯母版文本樣式,,第二級,,第三級,,第四級,,第五級,,,,*,,,,,單擊此處編輯母版標題樣式,,單擊此處編輯母版文本樣式,,第二級,,第三級,,第四級,,第五級,,,,*,,,,,單擊此處編輯母版標題樣式,,單擊此處編輯母版文本樣式,,第二級,,第三級,,第四級,,第五級,,,,*,,,,單擊此處編輯母版標題樣式,,單擊此處編輯母版文本樣式,,第二級,,第三級,,第四級,,第五級,,,,*,,,,單擊此處編輯母版標題樣式,,單擊此處編輯母版文本樣式,,第二級,,第三級,,第四級,,第五級,,,,*,上海浦東發(fā)展銀行,,財務報告與財務報表分析,,1,,,上海浦發(fā)銀行簡介,,2,中文名稱,上海浦東發(fā)展銀行股份有限公司,英文名稱,SHANGHAI PUDONG DEVELOPMENT BANK CO.,LTD,注冊資本,1865347,萬,注冊地址,上海市浦東新區(qū)浦東南路,500,號,省份,上海市,城市,上海市,法定代表人,吉曉輝,總經理,吉曉輝,(,代,),主營業(yè)務,3,吸收公眾存款,;,發(fā)放短期、中期和長期貸款,;,辦理結算,;,辦理票據貼現,;,發(fā)行金融債券,;,代理發(fā)行、代理兌付、承銷政府債券,;,買賣政府債券,;,同業(yè)拆借,;,提供信用證服務及擔保,;,代理收付款項及代理保險業(yè)務,;,提供保險箱業(yè)務,;,外匯存款,;,外匯貸款,;,外匯匯款,;,外幣兌換,;,國際結算,;,同業(yè)外匯拆借,;,財務報告是反映企業(yè),財務狀況,和,經營成果,的書面文件，包括主要會計報表,(,資產負債表、損益表、現金流量表,),及有關附表、報表和財務情況說明書,,,,4,,財務報表有如名貴香水，只能細細的品鑒，而不能生吞活剝。,浦發(fā)銀行最新財務指標,5,會計年度,2012,年,03,月,31,日,2011,年,12,月,31,日,2011,年,09,月,30,日,營業(yè)收入,(,元,),--,--,--,凈利潤,(,元,),7.89E+09,2.73E+10,1.99E+10,利潤總額,(,元,),1.03E+10,3.58E+10,2.62E+10,扣除非經常性損益后的凈利潤,(,元,),7.89E+09,2.71E+10,1.98E+10,總資產,(,元,),2.8E+12,2.68E+12,2.52E+12,股東權益,(,元,),1.57E+11,1.49E+11,1.4E+11,經營活動產生的現金流量凈額,(,元,),7.69E+10,1.99E+11,4.07E+10,每股收益,(,攤薄,),0.423,1.463,1.067,凈資產收益率,(,攤薄,)(%),5.0262,18.3261,14.2655,每股經營活動產生的現金流量凈額,(,元,),4.121,10.65,2.181,每股凈資產,(,元,),8.42,7.982,7.482,扣除非經常性損益后的每股收益,(,元,),0.423,1.45,1.061,,財務報表分析,一、財務報表分析概述,,二、財務比率分析,,三、總體結構分析與趨勢分析,,四、現金流量表分析,,6,一、財務報表分析概述,（一）財務分析的目的,,,,不同的利益集團（報表使用者）進行財務分析的側重點不同：,,,投資者（股東）,—,主要關心公司盈利能力；,,,債權人,—,主要關心公司的短期或長期償債能力,;,,,供應商,—,主要關心公司的流動性，判斷償付其貨款的能力；,,,政府,—,了解公司納稅情況，遵守法規(guī)和市場秩序情況；,,,公司管理者,—,應該關心所有,問題。,7,總資產,會計年度,2012,年,03,月,31,日,2011,年,12,月,31,日,2011,年,09,月,30,日,浦發(fā)銀行,280,4646567000.00,268,4693689000.00,252,1417295355.28,光大銀行,201,6707624000.00,173,3345607000.00,166,9994590000.00,8,負債,會計年度,2012,年,03,月,31,日,2011,年,12,月,31,日,2011,年,09,月,30,日,浦發(fā)銀行,264,6900192000.00,253,5150909000.00,238,1409113977.07,光大銀行,191,3446432000.00,163,7195974000.00,157,9057266000.00,9,所有者權益,會計年度,2012,年,03,月,31,日,2011,年,12,月,31,日,2011,年,09,月,30,日,浦發(fā)銀行,157,746375000.00,149,542780000.00,140,008181378.21,光大銀行,103,261192000.00,96,149633000.00,90,937324000.00,10,利潤總額,會計年度,2012,年,03,月,31,日,2011,年,12,月,31,日,2011,年,09,月,30,日,浦發(fā)銀行,103,17639000.00,358,39287000.00,262,37042288.57,光大銀行,92,12739000.00,242,11384000.00,189,34789000.00,11,二、財務比率分析,（一）流動性比率,——,短期償債能力分析,,（二）資產管理比率,——,營運能力分析,,（三）負債比率,——,長期償債能力分析,,（四）盈利能力比率,——,盈利能力分析,,（五）杜邦財務分析體系,,,,12,流動性比率,—,短期償債能力分析,反映企業(yè)流動性的比率主要有流動比率、速動比率和現金比率：,13,由以上三個指標可以看出浦發(fā)銀行的短期償債能力強,14,15,,資產管理比率,——,營運能力分析,16,=5.4,報告期,2012-03-31,2011-12-31,2011-09-30,2011-06-30,浦發(fā)銀行,48.73,627.43,379.96,555.25,滬深,300,28.76,131.04,76.52,54.53,行業(yè),--,69.81,50.68,32.75,17,報告期,2012-03-31,2011-12-31,2011-09-30,2011-06-30,浦發(fā)銀行,4.41,14.59,,4.55,,3.26,,滬深,300,2.21,9.88,7.58,5.19,18,報告期,2012-03-31,2011-12-31,2011-09-30,2011-06-30,浦發(fā)銀行,0.01%,0.03%,0.02%,0.01%,滬深,300,0.17%,0.77%,0.57%,0.38%,行業(yè),0.02%,0.1%,0.07%,0.05%,,負債比率,——,長期償債能力分析,19,,會計年度,2012,年,03,月,31,日,2011,年,12,月,31,日,2011,年,09,月,30,日,浦發(fā)銀行,,0.94376,0.9443,0.94447,光大銀行,0.95,0.94,0.94,會計年度,2012,年,03,月,31,日,2011,年,12,月,31,日,2011,年,09,月,30,日,浦發(fā)銀行,16.952680,16.952680,17.009071,光大銀行,18.55,17.05,17.05,20,盈利能力比率,——,盈利能力分析,21,=0.769,會計年度,2012,年,03,月,31,日,2011,年,12,月,31,日,2011,年,09,月,30,日,浦發(fā)銀行,0.526472,0.526472,0.53907,光大銀行,0.61,0.52,0.51,22,=5.16,=0.29,報告期,2012-03-31,2011-12-31,2011-09-30,2011-06-30,浦發(fā)銀行,33.14%,29.23%,32.71%,35.07%,滬深,300,13.03%,15.51%,17.13%,17.61%,行業(yè),39.84%,40.28%,40.50%,40.52%,23,=0.423,報告期,2012-03-31,2011-12-31,2011-09-30,2011-06-30,浦發(fā)銀行,4.4%,13.62%,10.89%,9.32%,滬深,300,3.06%,15.42%,12.21%,8.88%,行業(yè),5.03%,18.33%,14.27%,9.67%,24,會計年度,2012,年,03,月,31,日,2011,年,12,月,31,日,2011,年,09,月,30,日,浦發(fā)銀行,0.423000,1.463000,1.067000,光大銀行,0.17,0.45,0.22,營業(yè)利潤率,25,報告期,2012-03-31,2011-12-31,2011-09-30,2011-06-30,浦發(fā)銀行,42.75%,37.14%,41.42%,45.41%,滬深,300,15.78%,18.27%,20.51%,20.91%,行業(yè),51.77%,52.65%,53.19%,53.16%,同行業(yè)比較,26,,,杜邦財務分析體系,股東權益凈利率（凈資產收益率）,,,,,資產凈利率,×,權益乘數（,=,總資產,/,權益,）,,,,,銷售凈利率,×,資產周轉率,,,,,凈利,÷,銷售收入,,銷售收入,÷,總資產,27,,,,2012年3月,,2011,年,12,月,5.03%,18.32%,39.84%,40.28%,17.78,17.95,0.01%,0.03%,33.14%,29.23%,7893898000,27285981000,2804646567000,2684693689000,23920903030,,93349233660,杜邦分析體系路徑圖,股東權益凈利率（,ROE,）,,,銷售利潤率 總資產周轉率 財務杠桿,,,銷售毛利率 存貨周轉率 平均付款期,,,銷售凈利率 平均收帳期 資產負債率,,,產品售價 流動資產周轉 利息倍數,,,成本費用 固定資產周轉 償債倍數,,,稅率 同比資產負債表 流動比率,,,同比損益表 速動比率,,28,業(yè) 績 杠 桿,上海浦發(fā)銀行的總體經營狀況,浦發(fā)銀行的經營亮點在于網點的擴張和網點的地域分布使其規(guī)模擴張有保證、資產質量穩(wěn)健、上海市金融平臺整合可能使其受益，以及次級債和混合債的發(fā)行緩解了資本壓力。,,目前依舊維持對浦發(fā)謹慎推薦的評級，,,,,建議長期投資者可以逢低買入，中線持有。,,,29,30,謝謝觀看！,