I题目:贵州茅台股份有限公司盈利能力分析摘要从古至今,白酒在我国数千年的发展进程中始终发挥着不可磨灭的作用。不仅推动了我们国内外的交流,同时也传播了我国的各类文化,是我们日常交流交往的重要载体。然而最近这几年以来,由于国家相关政策的出台以及白酒产业环境的改变,白酒行业也迈入了深度调整阶段,行业内竞争愈演愈烈、产能过剩问题也一直存在。贵州茅台酒股份有限公司(以下简称“贵州茅台”)一直是我国白酒行业的领军人物,但是地位如此稳固的龙头企业却也避免不了行业发展的冲击与影响。日前,企业财务报表愈发获得了人们的关注,对于普通人尤其是投资者而言要了解一个企业,财务报表已然成为一个获取信息的重要手段。随着经济增长的逐步放缓,白酒行业已从量价高速增长转向结构调整和可持续发展的新常态阶段。企业的盈利能力不仅仅单纯的是对企业获利和资本收益的能力进行评估,而且是财务绩效的核心绩效。因此,本文将立足于对于盈利能力的研究,使其作为衡量白酒结构调整升级的核心标准,为后续白酒行业的健康发展提供一些理论上的支持。本论文以贵州茅台公司为案例,以企业盈利能力的角度,通过公司年报表,分析了贵州茅台公司的生产经营能力、总资产盈利能力及权益资本盈利能力。通过对贵州茅台公司盈利能力分析提出其存在资本结构控制不合理、存货周转率低、外部环境对市场份额有较大影响以及发展方式存在隐患的问题。最后对上述问题提出了相应的解决对策:加强成本控制管理、提高存货周转率、稳固自身市场以及寻求多元化发展道路。关键词:白酒行业;盈利能力;财务指标IIAbstractLiquorhasahistoryofthousandsofyearsinChina.Fromtheculturalpointofview,liquorhasbecomeanimportantcarriertospreadChineseculture.Inrecentyears,undertheinfluenceofnationalpoliciesandindustryenvironment,theliquorindustryhasenteredaperiodofdeepadjustment.Overcapacity,fiercecompetitionandexcessivetaxburdeninterweaveintheindustry.KWEICHOWMOUTAICo.,Ltd.(hereinafterreferredtoas"KWEICHOWMOUTAI"),astheleadingenterpriseintheliquorindustry,hasalsobeenimpactedandaffectedbythedevelopmentoftheindustry.Atpresent,theanalysisofenterprisefinancialstatementshasbeenpaidmoreandmoreattentionbyvariousaspectsandhasbecomethemainmethodandmeansformanystakeholderstoobtainvaluableinformation.Withthegradualslowdownofeconomicgrowth,theliquorindustryhasshiftedfromtheeraofrapidgrowthwithrisingvolumeandpricetothenewnormalstageofstructuraladjustmentandsustainability.Profitabilityofanenterprisenotonlyreflectstheabilityofanenterprisetoobtainprofitsandincreasecapitalvalue,butalsoisthecoreperformanceoffinancialperformance.Therefore,thisstudytakesprofitabilityasthecorestandardtomeasuretheeffectofstructuraladjustmentandtransformationandupgradingoftheliquorindustry,soastoprovidesupportforthehealthydevelopmentoftheliquorindustryunderthenewnormal.TakingKWEICHOWMOUTAICompanyasanexample,thispaperanalyzestheproductionandoperationcapacity,totalassetprofitabilityandequitycapitalprofitabilityofKWEICHOWMOUTAICompanyfromtheperspectiveofcorporateprofitabilitythroughthecompany'sannualreport.ThroughtheanalysisoftheprofitabilityofKWEICHOWMOUTAICompany,itispointedoutthattherearesomeproblems,suchasunreasonablecapitalstructurecontrol,lowinventoryturnoverrate,greatinfluenceofexternalenvironmentonmarketshareandhiddentroubleindevelopmentmode.Finally,theauthorputsforwardcorrespondingsolutionstotheaboveproblems:strengtheningcostcontrolmanagement,improvinginventoryturnover,stabilizingitsownmarketandseekingdiversifieddevelopmentpath.Keywords:LiquorIndustry;Profitability;FinancialIndicatorsI目录摘要............................................................