论文总字数：23928字

摘 要

作为一个企业发展与进步的基础和前提，盈利是企业从事一切经济活动的根本动力与最终目的。然而，在市场竞争如此激烈的当下，企业发展的过程中，不断面临着各种各样的风险与威胁，使得盈利的难度变得越来越大，任何一个看似不经意的决策都可能成为企业崛起或衰败的诱因。尤其是对于上市公司来说，拥有过人的销售业绩、较强的盈利能力、乐观的报表数据和吸引人的经营项目是非常重要的。在当今的趋势下，具有较强盈利能力的企业将会抓住机遇迅速崛起，而对于盈利能力不足的企业来说这样的趋势可能会成为走向衰败的推动力。因此，对于企业经营过程中盈利能力的评估、研究与分析，并制定出提高企业盈利能力的方案和措施成为企业拥有者和管理者尤为重视的一项工作，而对于财务人员来说，盈利水平评估能力也成为了必不可少的技能。

为了使盈利能力的评估结果真实、准确、具有说服力，必须运用相应的分析体系，其中，杜邦分析体系对于上市公司盈利能力的分析是目前最完善、应用最为广泛的。腾讯公司作为互联网行业的领头羊，不仅是国内互联网行业市值最高的公司之一，同时也是我国互联网行业中最大的综合服务供应商、拥有最多用户的企业之一，在其创立至今的二十年里取得了的巨大成功。因此，本文在研究方法上选择使用杜邦分析体系，并将腾讯控股有限公司作为研究对象。本文基于杜邦分析体系，结合文献分析法和经典案例分析法，对腾讯控股有限公司进行企业盈利能力分析，主要内容包括：对腾讯控股有限公司进行企业盈利能力分析的重要性和现实意义进行阐述；盈利能力的基本现状（包括对腾讯控股有限公司的净资产收益率、应收账款周转率、总资产周转率、权益乘数）的具体分析；根据本次杜邦分析体系下的企业盈利能力分析的结果对腾讯公司提出合理的建议。

通过本文的分析和论证，得出以下结论：腾讯公司是通过吸引投资提高权益乘数，并不断拓展业务、提高营业额，从而提高盈利能力，并通过提高盈利能力使自身在激烈的竞争中处于优势地位。但由此引发的风险也不容忽视，因此，腾讯公司应进一步重视创新、重视经营结构、加强负债管理，以保持公司的竞争优势。

关键词：杜邦分析；盈利能力；腾讯控股

Abstract

As a basis and prerequisite for the development and progress of an enterprise, profit is the fundamental motive force and ultimate goal for an enterprise to engage in all economic activities. However, in the current market competition is so fierce, enterprises are constantly facing various risks and threats in the process of development, making it more and more difficult to make profits. Any seemingly inadvertent decision-making may become the cause of the rise or decline of enterprises. Especially for listed companies, it is very important to have outstanding sales performance, strong profitability, optimistic reporting data and attractive business projects. In today's trend, enterprises with strong profitability will seize the opportunity to rise rapidly, and for enterprises with insufficient profitability, such a trend may become a driving force to decline. Therefore, the evaluation, research and analysis of profitability in the process of business operation, and formulation of plans and measures to improve the profitability of enterprises have become a task of particular importance to the owners and managers of enterprises, and for financial personnel, profitability evaluation has become an indispensable skill.

In order to make the evaluation results of profitability authentic, accurate and convincing, we must use the corresponding analysis system. Among them, DuPont analysis system is the most perfect and widely used for the analysis of the profitability of listed companies. Tencent, as the leader of the Internet industry, is not only one of the companies with the highest market value in the Internet industry in China, but also one of the largest integrated service providers and enterprises with the largest number of users in the Internet industry in China. Tencent has achieved great success in the 20 years since its establishment. Therefore, this paper chooses DuPont analysis system as the research method, and takes Tencent Holdings Limited Company as the research object. Based on DuPont analysis system, combined with literature analysis and classical case analysis, this paper analyses the profitability of Tencent Holdings Limited Company. The main contents include: the importance and practical significance of the profitability analysis of Tencent Holdings Limited Company; the current situation of profitability (including the return on net assets, receivables of Tencent Holdings Limited Company) Specific analysis of account turnover rate, total asset turnover rate, equity multiplier; according to the results of the DuPont analysis system of enterprise profitability analysis, Tencent put forward reasonable suggestions.

Through rigorous analysis and argumentation in this paper, the following conclusions are drawn: Tencent Company enhances its equity multiplier by attracting investment, expands its business and increases its turnover, thus improving its profitability, and by improving its profitability, makes itself in an advantageous position in the fierce competition. However, the risks caused by this can not be ignored. Therefore, Tencent should pay more attention to innovation, business structure and debt management to maintain the company's competitive advantage.

Key words: DuPont analysis; profitability; Tencent Holdings

目录

诚信承诺 I

摘要 II

Abstract III

目录 V

第一章 绪论 1

1.1 研究背景 1

1.2 研究目的及意义 1

1.3 研究内容与方法 2

1.3.1 研究内容 2

1.3.2 研究方法 2

第二章 理论基础及文献综述 4

2.1 概念界定 4

2.1.1 杜邦分析体系 4

2.1.2 盈利能力 4

2.2 文献综述 4

2.2.1 关于杜邦分析体系的整体认识 4

2.2.2 杜邦分析体系的优越性与局限性 4

2.2.3 杜邦分析体系下的盈利能力分析 5

2.2.4 文献评述 6

第三章 杜邦分析体系下腾讯公司盈利能力分析 7

3.1 腾讯公司的介绍 7

3.1.1 腾讯公司的发展历程 7

3.1.2 腾讯公司的业务介绍 7

3.1.3 腾讯公司财务状况 8

3.2 运用杜邦分析法对腾讯公司盈利能力的分析 9

3.2.1 杜邦分析体系及数据来源 9

3.2.2 腾讯公司总资产周转率分析 10

3.2.3 腾讯公司总资产报酬率分析 12

3.2.4 腾讯公司权益乘数分析 14

3.2.5 腾讯公司净资产收益率分析 17

3.3 本章小结 18

第四章 腾讯公司经营问题分析、对策及结论 20

4.1 腾讯公司经营问题分析 20

4.1.1 创新不足，跟风现象严重 20

4.1.2 经营结构存在缺陷 20

4.1.3 负债比例较大，存在较大风险 20

4.2 腾讯公司经营问题的解决对策 20

4.2.1 重视创新 20

4.2.2 优化经营结构 21

剩余内容已隐藏，请支付后下载全文，论文总字数：23928字