Operational capacity analysis includes current assets turnover analysis, fixed assets turnover analysis and total assets turnover analysis.
The financial analysis ratio of enterprise's operating ability includes: inventory turnover, accounts receivable turnover, business cycle, current assets turnover and total assets turnover. These ratios reveal the capital operation and turnover of enterprises and reflect the efficiency of enterprise management and application of economic resources. The faster the turnover of enterprise assets, the higher the liquidity, the stronger the solvency of enterprises, and the faster the assets can be profitable.
Question 2: What are the indicators that reflect the operational capacity?
(A) analysis of human resources business capabilities
The operational ability of human resources is usually analyzed by labor efficiency indicators.
Labor efficiency = net income or net output value of main business/average number of employees
The evaluation of enterprise labor efficiency mainly adopts comparison method, such as comparing the actual labor efficiency with the planned level of the enterprise, the historical advanced level or the average advanced level of the same industry.
(b) Analysis of the operational capacity of the means of production
The operational capacity of the means of production is actually the operational capacity of the total assets of an enterprise and its various components. The strength of assets' operating ability depends on the turnover rate of assets, which is usually expressed by turnover rate and turnover period. Turnover rate is the ratio of the turnover rate of assets to the average balance in a certain period, which reflects the turnover times of assets in a certain period. Turnover period is the product of the reciprocal of turnover times and the number of days in the calculation period, which reflects the number of days required for an asset to turn over once. Its calculation formula is:
Turnover rate (turnover times) = turnover amount ÷ average balance of assets.
Turnover period (turnover days) = calculation period days ÷ turnover times.
= Average balance of assets × number of days in calculation period ÷ turnover.
Specifically, the operational capacity analysis of the means of production can be analyzed from the following aspects.
1. Analysis of current assets turnover rate
The indicators reflecting the turnover rate of current assets mainly include accounts receivable turnover rate, inventory turnover rate and current assets turnover rate.
(1) accounts receivable turnover rate
Accounts receivable turnover rate (turnover times) = main business net income/average accounts receivable balance
Net income from main business = main business income-sales discounts and discounts
Average balance of accounts receivable = (balance of accounts receivable at the beginning of the year+balance of accounts receivable at the end of the year) ÷2
Generally speaking, the higher the turnover rate of accounts receivable, the better. The high turnover rate of accounts receivable indicates that the accounts are recovered quickly and the account age is short; Strong liquidity of assets and strong short-term solvency; It can reduce the collection cost and bad debt loss.
(2) Inventory turnover rate
Inventory turnover rate (turnover times) = main business cost/average inventory balance
Under normal circumstances, the inventory turnover rate is high, indicating that the inventory is realized quickly, the turnover is large and the capital occupation level is low.
(3) Turnover rate of current assets
Turnover rate of current assets (turnover times) = net income from main business/average total current assets.
Generally speaking, the higher the turnover rate of current assets, the better, indicating that the more turnover completed with the same current assets, the better the utilization effect of current assets.
2. Analysis of fixed assets turnover rate
The main index reflecting the turnover rate of fixed assets is the turnover rate of fixed assets.
Turnover rate of fixed assets (turnover times) = net income of main business/average net value of fixed assets.
Under normal circumstances, the turnover rate of fixed assets is high, which shows that the fixed assets of enterprises are fully utilized, the investment in fixed assets is appropriate, the structure of fixed assets is reasonable, and the efficiency can be fully exerted.
3. Analysis of total assets turnover rate
The main index reflecting the total asset turnover rate is the total asset turnover rate.
Total assets turnover rate (turnover times) = main business net income/average total assets
Generally speaking, the higher the turnover rate of total assets, the higher the use efficiency of all assets of an enterprise.
Question 3: What are the indicators that reflect the operational capacity of enterprises? A: Operational capability reflects the efficiency and profit of enterprise asset management. Enterprises with strong operational ability contribute to the growth of profitability, thus ensuring that enterprises have good solvency. There are five indicators to measure the operational capacity of an enterprise: total assets turnover, current assets turnover, fixed assets turnover, accounts receivable turnover and inventory turnover.
The turnover rate of total assets is an important index to comprehensively evaluate the management quality and utilization efficiency of all assets of enterprises. The calculation formula is: total assets turnover rate (%) = net sales (business) ÷ average total assets × 100%. The turnover rate of total assets reflects the net sales income created by unit assets of an enterprise, the turnover rate of all assets from input to output in a certain period, and the management quality and utilization efficiency of all assets of an enterprise. Generally speaking, the higher the total asset turnover rate, the better the asset management, the more sales revenue, the higher the asset utilization efficiency and the faster the turnover rate.
The turnover rate of current assets reflects the turnover rate of current assets of enterprises, that is, the profitability of current assets. The calculation formula is: turnover rate of current assets (%) = net sales (business) income ÷ average total current assets × 100%. The higher the turnover rate, the higher the income generated by current assets, the higher the realized value and the stronger the profitability of enterprises. Generally speaking, the high turnover rate of current assets shows that enterprises have made three great achievements in the utilization of assets: reasonable holding of monetary funds, rapid recovery of accounts receivable and rapid turnover of inventory.
The turnover rate of fixed assets is an index used to reflect the utilization efficiency of fixed assets, and its calculation formula is: turnover rate of fixed assets (%) = net sales (business) income ÷ average total fixed assets × 100%. In order to improve the turnover rate of fixed assets, enterprises should strengthen the management of fixed assets, so that the investment scale of fixed assets is appropriate and the structure is reasonable. Excessive scale, resulting in idle equipment, waste of assets, and decline in the efficiency of fixed assets; The scale is too small, the production capacity is small, and it is impossible to form scale benefits. The structure of fixed assets should be reasonable, that is, the productive fixed assets and unproductive fixed assets of an enterprise should maintain an appropriate proportion, that is, all productive fixed assets should be put into use, run at full capacity, fully meet the needs of production and operation, and unproductive fixed assets should be able to truly undertake the responsibility of service.
The turnover rate of accounts receivable reflects the realization speed of accounts receivable and the management efficiency of enterprises. It is a supplementary explanation to the turnover rate of current assets, and its calculation formula is: accounts receivable turnover rate (%) = net sales (business) income ÷ average balance of accounts receivable × 100%. Average collection period (days) =360 days ÷ average collection period. The high turnover rate indicates that the enterprise collects accounts quickly and has a short age, which can reduce the collection cost and bad debt loss, thus relatively increasing the investment income of the enterprise's current assets. High turnover rate is not conducive to enterprises to expand sales and improve product market share.
Inventory turnover rate is a supplementary explanation to the turnover rate of current assets, and it is a comprehensive index to evaluate the operating conditions of enterprises from obtaining inventory, putting into production to sales recovery. Calculation formula: inventory turnover rate (%) = cost of sales ÷ average inventory × 100%. Inventory turnover days (days) =360 days ÷ inventory turnover rate. Generally speaking, the higher the inventory turnover rate, the smaller the risk of inventory backlog and the higher the efficiency of capital use. On the contrary, the low inventory turnover rate indicates that there are many problems in inventory management.
Question 4: What are the main indicators reflecting the operational capacity of enterprises? (1) Analysis of human resource operation ability.
(b) Analysis of the operational capacity of the means of production
(1) accounts receivable turnover (2) inventory turnover (3) current assets turnover.
Question 5: Please explain in detail how to analyze the operational capacity of enterprises and which indicators to focus on. Short-term solvency:
Current ratio = current assets/current liabilities
Quick ratio = quick assets/current liabilities
Cash ratio = (monetary fund+marketable securities)/current liabilities
Long-term solvency:
Asset-liability ratio = total liabilities/total assets
Owner's equity ratio = total owner's equity/total assets.
Total equity = total assets/total owner's equity
Property right ratio = total liabilities/total owner's equity
Tangible net debt ratio = total liabilities/(owner's equity-intangible assets-deferred assets)
Interest guarantee multiple = pre-tax profit and interest/interest expense
Ratio of timely funds to long-term liabilities = (current assets-current liabilities)/long-term assets
Profitability:
Long-term return on capital = (total profit+interest expense)/(average long-term debt+average owner's equity)
Return on capital = net profit/total capital
Return on shareholders' equity = net profit/average value of shareholders' equity
Return on common shareholders' equity = (net profit-preferred stock dividend)/(average shareholders' equity-average preferred stock shareholders' equity)
Earnings per share of all shares = (net profit-preferred stock dividend)/number of common shares outstanding.
P/E ratio = price per share of common stock/earnings per share of common stock
Dividend per share of common stock = total dividend of common stock/number of common shares in circulation.
Book value of common shares = (total shareholders' equity-preferred shareholders' equity)/number of common shares outstanding.
Profit rate of total assets = (total profit+net interest expense)/average total assets pursued.
Gross profit margin = gross profit/sales revenue
Operating profit = (operating profit+net interest expense)/sales revenue
Net profit from sales = net profit/sales revenue
Cost profit rate = operating profit/(sales cost+sales expenses+management expenses+financial expenses)
Operational ability refers to the turnover ability of enterprise assets, which can usually be analyzed layer by layer by four financial ratios: total assets turnover rate, current assets turnover rate, inventory turnover rate and accounts receivable turnover rate. Operational capacity analysis can help investors understand the operating conditions and management level of enterprises. Taking Suning Appliance as an example, this paper introduces to investors how to analyze the operational capacity of enterprises.
The turnover rate of total assets refers to the ratio of sales revenue to the average balance of total assets. Suning's sales revenue in 2004 was 9 1. 1 billion yuan, and its average total assets were 654,380+0.4 billion yuan. In 2005, the sales revenue increased to 654.38+0.604 billion yuan, and the average total assets increased by 2.3 times, reaching 365.438+0.9 billion yuan. As the growth rate of total assets exceeded the growth rate of sales revenue, the turnover rate of total assets decreased from 6.49 to 5.
The decline in this proportion is directly related to the large-scale opening of new stores in Suning in 2005. In order to complete the strategic pattern of "national network distribution", in 2005, Suning opened 65 new stores and landed in more than 20 cities. The original logistics and service system has a limited radiation radius, so Suning needs to build a large number of management platforms to support the logistics and management of other stores in the same city in the future. This makes the initial cost of Suning's expansion strategy relatively high.
The turnover rate of current assets is the ratio of sales revenue to the average balance of current assets. Through the analysis of this ratio, we can further understand the change of enterprise's operating ability in the short term. As can be seen from the report, the sales revenue of Suning in 2005 was nearly 654.38+0.6 billion yuan, with a growth rate of 42.9%, while the average current assets more than doubled. The large increase in current assets did not bring the same increase in sales revenue, so the turnover rate of current assets decreased from 7.36 in 2004 to 5. 1 in 2005, indicating that the utilization efficiency of current assets in Suning decreased.
Inventory and accounts receivable are the main components of current assets, so we can further analyze the changes of current assets turnover rate through inventory turnover rate and accounts receivable. Suning focuses on spot sales, so accounts receivable only account for 4.75% of current assets, while inventory accounts for 50%.
Inventory turnover refers to the ratio of cost of sales to average inventory balance. Inventory turnover rate can also be ... >>
Question 6: What indicators are commonly used in operational capability analysis? The most commonly used are the following four:
1, inventory turnover rate = operating cost/average inventory. The faster the inventory turnover rate, the lower the inventory occupancy level and the stronger the liquidity;
2 accounts receivable turnover rate = operating income/average accounts receivable. The higher the turnover rate of accounts receivable, the shorter the average collection period, the faster the collection of accounts receivable and the more flexible the fund operation;
3. Turnover rate of current assets = operating income/average current assets. Rapid turnover will save current assets and enhance the profitability of the company;
4. Total assets turnover rate = operating income/average total assets. The faster the turnover, the stronger the sales ability.
All the data required by the formula can be obtained in the financial statements.
Question 7: What are the indicators that reflect the operational capability of assets? 5 points (1) inventory turnover rate. It is a comprehensive index to measure and evaluate the management status of enterprises in purchasing inventory, putting into production and sales recovery. It is the ratio of the cost of goods sold divided by the average inventory, or inventory turnover times, and the inventory turnover rate expressed in time is the inventory turnover times. The quality of inventory turnover index reflects the level of enterprise inventory management and affects the short-term solvency of enterprises, which is an important content of the whole enterprise management. Generally speaking, the faster the turnover rate of inventory, the lower the occupancy level of inventory, the stronger the liquidity, and the faster the inventory can be converted into cash or accounts receivable. Therefore, improving the inventory turnover rate can improve the liquidity of enterprises.
(2) Accounts receivable turnover rate. Refers to the average amount of accounts receivable converted into cash within one year, indicating the flow speed of accounts receivable. The average recovery period is the turnover speed expressed in time, which is also called the average recovery period of accounts receivable or the average cash recovery period, indicating the time required for enterprises to obtain the rights of accounts receivable and recover the money and convert it into cash. Generally speaking, the higher the turnover rate of accounts receivable, the shorter the average recovery period, indicating that the faster the recovery of accounts receivable, the higher the efficiency of asset utilization; Otherwise, the working capital of an enterprise will be too sluggish in accounts receivable, which will affect the normal capital turnover.
(3) Turnover rate of current assets. It is the ratio of sales revenue to the average balance of all current assets. The turnover rate of current assets reflects the turnover rate of current assets. Rapid turnover will relatively save current assets, which is equivalent to relatively expanding asset investment and enhancing corporate profitability; To slow down the turnover rate, it is necessary to supplement the current assets to participate in the turnover, which will waste funds and reduce the profitability of enterprises.
(4) Total assets turnover rate. It is the ratio of average total assets to sales revenue. This indicator reflects the turnover rate of total assets. The faster the turnover, the stronger the sales ability. Enterprises can speed up the turnover of assets and increase the absolute amount of profits by means of small profits but quick turnover.
In short, the turnover rate indicators of various assets are used to measure the ability of enterprises to earn income by using assets, and are often used together with indicators reflecting profitability, which can comprehensively evaluate the profitability of enterprises.
Question 8: What are the indicators of team operation? According to the original plan:
User activity
No project or product can be separated from users. In order to get better benefits, we must establish contact with users and listen to their voices, so as to find and solve problems. A notable example of user activity is Xiaomi and Nokia. Sologan of Xiaomi: Born for fever, he established his own rice noodle forum. Rice noodles from all over the world communicate with each other. The interaction between Xiaomi and users has improved the activity of users and accumulated a large number of loyal users for themselves. Look at Nokia again, it didn't keep up with the market and didn't know the users in time, which is closely related to the activity of users. There is no denying that Nokia's performance is really good, and falling to the ground will not affect it. It has a long service life, but it failed in the end. Now users not only value performance, but also demand is constantly changing. If Nokia keeps a certain degree of activity with users, it can get a lot of information from users, so that when changes come, they will not be caught off guard. User activity is an operational indicator that investors attach great importance to, and entrepreneurial teams should also attach great importance to it.
User retention rate
According to the 20 /80 rule, 80% of revenue is generated by 20% of users, and the retention of loyal users plays a particularly important role in the income of enterprises. Many enterprises say that the cost of developing a new user is much higher than that of maintaining old users, and maintaining existing users is also indispensable. We can provide more preferential policies and more valuable products for old users. The higher the satisfaction of old users, the more important it is to the development of new users. For example, when we buy a product or a service now, we will definitely ask people around us first, or look at the comments of previous users. Therefore, existing users must be well maintained.
Constantly update users
Everyone knows the 20/80 rule. Since 80% of revenue comes from 20% of users, why spend high costs to develop new users? I think: the long tail theory should be familiar to everyone. The long tail theory attaches importance to lengthening the tail, and new users can regard it as this tail. When the number of new users is increasing, its benefits are unparalleled. With the increase of new users, some new users will become 20% loyal users. The continuous operation of a product or a project is inseparable from a steady stream of users, and this operation index of the entrepreneurial team is also valued by investors, which requires the entrepreneurial team to master more knowledge and skills in the field of user innovation to ensure the normal operation of this link, and the overall operation is also inseparable from this link. I believe that investors will also evaluate this operating index of the entrepreneurial team. We should not only understand the importance of the 20/80 rule, but also understand the indispensability of the long tail theory.
Question 9: What are the internal operational indicators? Internal operation indicators: generally refers to the performance appraisal indicators within the enterprise, mainly including: profit completion rate, sales revenue completion rate, sales volume completion rate, procurement cost reduction rate, days of capital possession control, various cost control rates, timely delivery rate of orders, quality compliance rate, etc.
Question 10: What are the indicators that reflect the asset operation ability of an enterprise? Hello, Mr. Zou from the accounting school will answer your questions.
(1) accounts receivable turnover rate
(2) Inventory turnover rate
(3) Total assets turnover rate
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