目录基于财务报表的盈利能力分析............................................................................................1一、引言..........................................................................................................................1二、森马服饰盈利能力的影响因素....................................................................................2（一）内部影响因素...........................................2（二）外部影响因素...........................................3三、森马服饰盈利能力分析................................................................................................4（一）森马服饰盈利能力指标分析...............................41、营业利润率.....................................................................................................42、净利润率.........................................................................................................53、总资产净利率..................................................................................................64、净资产收益率..................................................................................................7（二）森马服饰的杜邦分析.....................................8四、森马服饰存在的盈利问题..........................................................................................10（一）成本控制风险..........................................10（二）市场风险..............................................10（三）汇率变动..............................................11五、森马服饰盈利发展的建议..........................................................................................12（一）提升盈利能力，增强抵御风险能力........................12（二）控制成本，提升应对市场风险能力........................12（三）降低汇率波动，提升公司盈利能力........................12结 论.................................................................................................................................13（参考文献）.............................................
