For real estate enterprises, it is generally believed that it is an appropriate level to keep the asset-liability ratio at 40% to 60%. Asset-liability ratio is the percentage of total liabilities to total assets of an enterprise, and its calculation formula is: Asset-liability ratio is equal to total liabilities divided by total assets multiplied by 100%. The asset-liability ratio of an enterprise is related to its actual profitability.
Second, analysis
Different industries should be treated differently. If it exceeds 80%, the debt ratio is too high, and the operation of the enterprise is already facing great risks, which may not only lead to short-term capital risks, but also lead to problems such as the impairment and unrealizability of the fixed assets of the enterprise, and may eventually lead to insolvency and bankruptcy.
Third, the reasons for the high debt ratio of real estate enterprises
The real estate industry implements the pre-sale system, and the pre-sale house money generated before the house is completed and delivered forms financial liabilities. Total liabilities and asset-liability ratio can not truly reflect the liabilities of real estate enterprises. The rapid growth of real estate sales is one of the reasons why the debt ratio of listed real estate enterprises continues to rise. In addition, the real estate industry is a capital-intensive industry with a long turnover cycle, so the overall debt ratio is higher than other industries. Appropriate and reasonable liabilities are conducive to the rapid expansion and development of the company, which is also confirmed by the development history of many first-time barracks enterprises in recent years. The real estate industry implements the pre-sale system, and the pre-sale house payment generated before the house is completed and delivered becomes a financial liability. In other words, the customer and the developer signed a contract and paid the house price, but as long as the date of repossession is not reached, the developer can only count the money into the debt.