【正文】 益率(%)利潤總額期初長期負(fù)債期末長期負(fù)債期初所有者權(quán)益期末所有者權(quán)益20081231189,938,1,138,766,1,328,282,20091231356,855,1,000,1,328,282,1,668,734,20101231636,917,1,000,49,059,1,668,734,2,539,696,2．資本保值增值率資本保值增值率是指企業(yè)本年末所有者權(quán)益扣除客觀增減因素后同年初所有者權(quán)益的比率。年初所有者權(quán)益) 100%從下面數(shù)據(jù)表可發(fā)現(xiàn)：江鈴汽車2008年2010年的資本保值增值率呈現(xiàn)穩(wěn)步上升趨勢。2010年資本保值增值率行業(yè)最高值為萬向錢潮，%。該指標(biāo)越高，說明企業(yè)產(chǎn)品或商品定價科學(xué)，產(chǎn)品附加值高，營銷策略得當(dāng)，主營業(yè)務(wù)市場競爭力強，發(fā)展?jié)摿Υ螅@利水平高。江鈴汽車2008年至2010年數(shù)據(jù)會計年度主營業(yè)務(wù)利潤率(%)營業(yè)利潤主營業(yè)務(wù)收入20081231737,671,8,587,033,200912311,236,400,10,433,205,201012312,041,724,15,767,896,一汽富維2008年至2010年數(shù)據(jù)會計年度主營業(yè)務(wù)利潤率(%)營業(yè)利潤主營業(yè)務(wù)收入20081231187,800,3,475,574,20091231343,291,3,565,453,20101231634,329,6,182,502,2010年會計年度本行業(yè)20家數(shù)據(jù)股票名稱主營業(yè)務(wù)利潤率(%)營業(yè)利潤主營業(yè)務(wù)收入一汽富維634,329,6,182,502,上汽集團(tuán)27,005,651,312,485,486,長城汽車2,967,784,22,986,072,一汽轎車2,245,262,37,360,377,江淮汽車1,259,600,29,704,362,福田汽車1,747,659,53,492,052,金龍汽車540,374,16,156,141,東風(fēng)汽車591,165,19,800,179,長安汽車1,977,647,33,072,124,海馬汽車268,341,10,184,640,一汽夏利294,907,9,891,239,迪馬股份41,227,1,819,839,東安動力126,869,2,333,992,中通客車43,793,2,007,561,安凱客車66,272,3,152,638,萬向錢潮472,812,7,819,675,中國嘉陵281,249,3,237,183,禾嘉股份16,018,353,068,亞星客車873,667,335,江鈴汽車2,041,724,15,767,896,平均值2,102,965,29,423,718,最大值27,005,651,312,485,486,最小值281,249,353,068,2．盈余現(xiàn)金保障倍數(shù)盈余現(xiàn)金保障倍數(shù)是指企業(yè)一定時期經(jīng)營現(xiàn)金凈流量同凈利潤的比值，反映了企業(yè)當(dāng)期凈利潤中現(xiàn)金收益的保障程度，真實地反映了企業(yè)的盈余的質(zhì)量。該指標(biāo)越高，說明企業(yè)盈余質(zhì)量越好，企業(yè)長遠(yuǎn)發(fā)展能力越強。2010年行業(yè)中盈余現(xiàn)金保障倍數(shù)最高的是迪馬股份。成本費用利潤率=利潤總額/成本費用總額100%從下面數(shù)據(jù)表可發(fā)現(xiàn)：江鈴汽車從2008年到2010年這三年的成本費用利潤率呈現(xiàn)穩(wěn)步上升趨勢；%，從以下數(shù)據(jù)可以看出，公司的利潤總額和成本費用每年都處于上升的趨勢，且每年的利潤總額的上升幅度大于成本費用總額的上升幅度，所以導(dǎo)致了企業(yè)成本費用利潤率上升的趨勢。江鈴汽車2008年至2010年數(shù)據(jù)會計年度成本費用利潤率(%)利潤總額主營業(yè)務(wù)成本銷售費用管理費用財務(wù)費用20081231902,396,6,645,061,526,314,588,530,59,064,200912311,243,644,7,706,608,770,235,596,114,52,037,201012312,033,376,11,696,387,1,019,046,820,275,93,426,一汽富維2008年至2010年數(shù)據(jù)會計年度成本費用利潤率(%)利潤總額主營業(yè)務(wù)成本銷售費用管理費用財務(wù)費用20081231189,938,3,418,995,37,607,150,971,17,973,20091231356,855,3,479,570,28,239,124,146,11,410,20101231636,917,5,816,130,28,229,189,118,9,701,2010年會計年度本行業(yè)20家數(shù)據(jù)股票名稱成本費用利潤率(%)利潤總額主營業(yè)務(wù)成本銷售費用管理費用財務(wù)費用一汽富維636,917,5,816,130,28,229,189,118,9,701,上汽集團(tuán)26,684,390,251,902,595,21,076,418,11,442,442,386,773,長城汽車3,041,235,17,298,380,1,070,202,873,663,7,819,一汽轎車2,236,901,29,577,424,2,361,335,1,448,785,14,158,江淮汽車1,362,653,25,124,453,1,268,506,1,214,158,28,911,福田汽車1,914,651,47,166,401,1,817,336,2,206,649,64,169,金龍汽車569,839,14,078,029,806,689,531,152,11,301,東風(fēng)汽車629,862,17,480,279,1,142,940,891,436,27,704,長安汽車1,990,770,27,303,257,3,230,353,1,573,110,54,097,海馬汽車549,981,8,998,060,77,891,421,334,11,425,一汽夏利338,989,9,348,556,587,820,607,550,54,635,迪馬股份77,068,1,548,569,83,522,79,479,31,421,東安動力134,220,2,039,932,42,145,193,907,13,805,中通客車50,188,1,731,505,136,400,67,022,4,050,安凱客車80,510,2,767,997,190,354,125,790,10,163,萬向錢潮552,507,6,438,247,236,092,530,640,80,831,中國嘉陵269,834,2,797,790,189,836,213,659,67,454,禾嘉股份9,184,239,212,28,776,36,552,8,716,亞星客車6,588,599,923,41,962,32,450,3,910,江鈴汽車2,033,376,11,696,387,1,019,046,820,275,93,426,平均值2,131,500,24,197,656,1,771,793,1,174,959,24,339,最大值26,684,390,251,902,595,21,076,418,11,442,442,386,773,最小值269,834,239,212,28,229,32,450,93,426,資產(chǎn)獲利能力分析小結(jié)江鈴汽車2010年末除了的盈余現(xiàn)金保障倍數(shù)低于2009年外，其它指標(biāo)如總資產(chǎn)收益率、長期資本收益率、資本保值增值率、主營業(yè)務(wù)利潤率、成本費用利潤率實際值較2009年末實際值都呈現(xiàn)上升的趨勢。說明該企業(yè)以后的發(fā)展中需要注意公司的資本保全狀況。凈資產(chǎn)收益率=凈利潤/平均所有者權(quán)益100%平均所有者權(quán)益=（期初所有者權(quán)益+期末所有者權(quán)益）247。江鈴汽車2008年至2010年數(shù)據(jù)會計年度凈資產(chǎn)收益率(%)凈利潤期初所有者權(quán)益期末所有者權(quán)益20081231797,377,3,615,288,4,151,089,200912311,080,152,4,151,089,4,946,853,201012311,747,015,4,946,853,6,242,594,一汽富維2008年至2010年數(shù)據(jù)會計年度凈資產(chǎn)收益率(%)凈利潤期初所有者權(quán)益期末所有者權(quán)益20081231189,515,1,138,766,1,328,282,20091231354,540,1,328,282,1,668,734,20101231617,951,1,668,734,2,539,696,2010年會計年度本行業(yè)20家數(shù)據(jù)股票名稱凈資產(chǎn)收益率(%)凈利潤期初所有者權(quán)益期末所有者權(quán)益一汽富維617,951,1,668,734,2,539,696,上汽集團(tuán)22,832,773,46,764,077,81,748,521,長城汽車2,827,083,7,838,159,10,400,305,一汽轎車1,898,746,7,744,377,8,750,438,江淮汽車1,176,375,4,432,077,5,492,697,福田汽車1,646,011,4,074,389,8,061,381,金龍汽車500,494,2,499,547,2,991,309,東風(fēng)汽車603,637,6,765,710,7,265,235,長安汽車2,005,747,8,894,554,10,583,582,海馬汽車501,889,4,510,914,7,972,249,一汽夏利302,233,3,476,926,3,632,611,迪馬股份71,046,1,234,228,1,517,457,東安動力134,220,2,143,912,2,278,133,中通客車39,432,547,442,588,189,安凱客車76,686,709,242,788,352,萬向錢潮472,391,1,877,259,4,039,614,中國嘉陵277,586,934,638,659,077,禾嘉股份1,361,353,404,363,816,亞星客車6,588,213,741,219,749,江鈴汽車1,747,015,4,946,853,6,242,594,平均值1,859,205,5,581,509,8,306,750,最大值22,832,773,46,764,077,81,748,521,最小值277,586,213,741,219,749,、基本每股收益每股收益即EPS，又稱每股稅后利潤、每股盈余，指稅后利潤與股本總數(shù)的比率。如果公司還有優(yōu)先股，應(yīng)先從稅后利潤中扣除分派給優(yōu)先股股東的利息。結(jié)合同行業(yè)資料可以看出，說明該公司每股創(chuàng)造的稅后利潤較高,表明企業(yè)所創(chuàng)造的利潤較多。四、2010年獲利能力分析總結(jié)概括結(jié)論通過歷史比較觀察，江鈴汽車2010年末除了銷售毛利率和盈余現(xiàn)金保障倍數(shù)低于前兩年外，其他指標(biāo)如營業(yè)利潤率、總資產(chǎn)收益率、長期資本收益率、資本保值增值率、主營業(yè)務(wù)利潤率、成本費用利潤率、凈資產(chǎn)收益率和每股收益指標(biāo)均高于前兩年。說明江鈴汽車總體獲利能力強于一汽富維。從以下可以體現(xiàn)：江鈴汽車2010年末營業(yè)利潤率、總資產(chǎn)收益率、長期資本收益率、主營業(yè)務(wù)利潤率、成本費用利潤率、凈資產(chǎn)收益率和每股收益指標(biāo)均高于前兩年與同行業(yè)平