外文翻译
原文
Operation ability analysis
Material Source: China's securities nets 05/17/2006            Author:Techever
Operation ability fully utilize existing resources to create social wealth ability, can be used to evaluate the enterprise to its own resources utilization and operating activities ability. Its essence is to as few as possible resources occupation short turnover time, produce as many products, create as many sales revenue, and to achieve this goal, we must improve enterprise's operation ability level. Operation ability is the assets of the enterprise turnaround to measure the efficiency of the utilization of assets enterprises. The index reflects assets turnover rate have inventory turnover, liquid assets turnover rate, total asset turnover. The faster turnaround speed, it shows that the enterprise of assets into business links, forming the faster the cycle of revenue and profit more short, business efficiency is hi
gher. Operation ability refers to the enterprise asset turnover operation ability, usually can use total asset turnover, fixed asset turnover, flow asset turnover, inventory turnover and accounts receivable turnover these five financial ratios to enterprises' operating capacity for layered analysis.
Operation ability analysis can help investors understand enterprise business conditions and operating management level. With our su ning electric equipment (BBS) (market, for example, 002024) to introduce how to enterprise's investors operating capability analysis. Total asset turnover is to show enterprise sales income and total assets of the ratio of average balance. Suning 2004 sales revenue for  billion yuan, average total assets of 14 million yuan; 2005 sales income increased to  billion yuan, the average total assets is increased by  times, reached  million yuan. Due to the growing rate of total assets than the sales income increase, total asset turnover down to 5 by lead.
The rate of decline in 2005 with suning opened the new mass are directly related. In order to complete the "national cloth nets" thestrategic pattern, suning in 2005 at 65, a new stor
e new landed 20 cities, and the original logistics, service system of radiation radius is limited, so su ning to makes lots of management platform, in order to support the construction of the urban construction in the same after other stores of logistics and management. This makes su ning expansion strategy initial cost of relatively high.
Current assets turnover is enterprise's sales income and liquidity ratio of average balance. Through this ratio analysis, we can further understanding of enterprise in the short term operation ability changes. From statements that su ning 2005 sales income nearly  billion yuan, growth rate, while the average flow rate reached more than doubled assets. The liquidity didn't bring the same margin large increase of sales income growth, so current assets turnover in 2004  dropped by the 2005 , explain the efficiency in the use of su ning liquid assets declined.
Fixed asset turnover is mainly used for analysis of fixed assets such as factory buildings, equipment, the ratio of the utilization efficiency of the higher and higher, explain utilization, management level, the better. If the fixed asset turnover compared with industr
y average low, then explaining enterprise of fixed assets utilization is low, might affect the enterprise profitability. It reflects enterprise asset utilization degree.
Fixed asset turnover ratio = sales revenue/average net value of fixed assets
The average net value of fixed assets = (initial equity + final equity) voting 2
Enterprise inside certain period advocate business wu income with average net current assets ratio of total asset utilization, is appraise enterprise another important indexes. It reflects the enterprise liquid assets turnover rate from enterprise all assets, liquidity of the strongest in current assets Angle of enterprise assets utilization efficiency, in order to further analyze the quality of enterprise assets reveals acoustics major factor. Current assets turnover means certain period for a year) (usually the main business income and total migrant assets ratio of the average , can through to inventory turnover and accounts receivable further analysis of flow asset turnover ratio changes. Suning in stock sales primarily, therefore, accounts receivable accounted for only the liquidity, and inventory 50% %.
margin rate
Inventory turnover refers to enterprises and inventory cost of sales average balance ratio. For real estate industry inventory turnover is a very key indicators, real estate industry is very special. Usually, inventory turnover is the sooner the better, and real estate industry inventory quantity bigger, the slower the turnover that the strength of the company is the more abundant. Other industry's inventory turnover for six or seven times a year of general level, in contrast, in the real estate industry a year about a second, if in six or seven times a year inventory turnover for real estate industry as the company is tiny companies, with a powerful real estate stocks, inventory turnover are very low, because must keep a lot of land reserves, land reserve is his inventory, the houses built yet form sales belong to assets range, depend on these achieve turnover condition can also be expressed with inventory, namely said days once inventory turnover the time required that the shorter days, the faster inventory turnover. Suning  inventory turnover in 2004 for 2005, this ratio dropped to . Accordingly, inventory turnover days from 24 days extended to 35 days. Inventory liquidation speed decreased obviously, explain suning sales ability may exist problems down or inventory excess.

版权声明：本站内容均来自互联网，仅供演示用，请勿用于商业和其他非法用途。如果侵犯了您的权益请与我们联系QQ:729038198，我们将在24小时内删除。