基于杜邦分析体系的云南白药集团盈利能力研究摘 要医药行业关乎着国计民生的大事，一直是备受国家重视的行业。近年来，医药制造行业发展迅猛，也逐渐跻身于国际贸易增长较快的行业当中去。2017 年，随着两票制的推进，我国药品的流通行业的集中程度得到较快地提升，但整体的集中程度仍然不高，这将是导致药品成本增加的重要因素；直至 2019 年初我国药品实物量已跃居世界第一，但与工业发达国家相比仍然存在十分大的差距。随着人口不断的增加、社会人口老龄化现象逐日趋于严峻和人们对医药安全质量的要求不断提高。医药企业想要稳步持续发展，那么如何提升企业的盈利能力这一关键问题迫在眉睫。本文选择云南白药集团为研究对象。结合 2016 年至 2018 年的财务报表，基于杜邦分析体系的基本理论对云南白药的盈利能力进行研究。通过对该企业的净资产收益率、销售净利率、总资产周转率以及权益乘数进行逐级计算，分析云南白药集团的盈利能力现状及其影响因素。最后结合目前云南白药集团存在的期间费用与销售费用水平较高，存货周转率较低等问题，为提高公司盈利能力提出相应的建议，以期促进企业稳定发展。关键词：杜邦分析体系； 盈利能力 ；财务报表IProfitability Research of Yunnan Baiyao Group Co., Ltd. Based on Dupont Analysis SystemAbstractThe pharmaceutical industry is concerned is related to the economy , and has always been an important industry.Nowadays, with the rapid development of pharmaceutical manufacturing industry, it has gradually become one of the fastest growing industries in international trade..In 2017, with the promotion of two-vote system, the concentration degree of China's drug circulation industry has been improved rapidly, but the overall concentration degree is still not high, which will be an important factor leading to the increase of drug cost.By the beginning of 2019, China's actual drug quantity has become the first in the world, but there is still a big gap between China and the industrialized countries.With the continuous increase of the population, the aging of the population is ...
