财务分析腾讯公司

单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,*,单击此处编辑母版标题样式,单击此处编辑母版文本样式,第二级,第三级,第四级,第五级,*,GO,腾讯,1,重庆邮电大学市场营销专业,0341001,Tencent,腾讯,一、公司概况,二、腾讯财务报表分析,三,、财务对比分析,四,、总结,Tencent,腾讯,腾讯公司,成立于,1998,年,11,月，是目前中国最大的互联网综合服务提供商之一，也是中国服务用户最多的互联网企业之一。成立十多年以来，腾讯一直秉承一切以用户价值为依归的经营理念，始终处于稳健、高速发展的状态。腾讯把为用户提供“一站式在线生活服务”作为战略目标，提供互联网增值服务、移动及电信增值服务和网络广告服务。通过即时通信,QQ,、,腾讯网,（）、,腾讯游戏,、,QQ空间,、无线门户、,搜搜,、,拍拍,、,财付通,等中国领先的网络平台，腾讯打造了中国最大的网络社区，满足互联网用户沟通、资讯、娱乐和电子商务等方面的需求。其使命是：用,互联网,的先进技术提升公司收入,一、公司简介,Tencent,腾讯,财务趋势分析,营运能力分析,偿债能力分析,二、财务分析,盈利能力分析,发展能力分析,财务综合分析,财务分析,Tencent,腾讯,1.,资产负债表,非流动资产,21,300,877,10,456,373,4,348,823,3,359,696,2,090,312,流动资产,35,503,488,25,373,741,13,156,942,6,495,861,4,835,132,净流动资产,14,320,140,12,351,696,8,593,863,4,404,264,3,185,515,流动负债,21,183,348,13,022,045,4,563,079,2,091,597,1,649,617,非流动负债,6,532,673,967,211,644,033,644,628,40,770,少数股东权益,-借/贷,624,510,83,912,120,146,98,406,64,661,净资产,/负债,28,463,830,21,756,950,12,178,510,7,020,926,5,170,396,股本,(资本及储备),198,198,197,195,194,储备,(资本及储备),28,463,640,21,756,750,12,178,310,7,020,731,5,170,202,股东权益,/亏损(合计),28,463,834,21,756,946,12,178,507,7,020,926,5,170,396,无形资产,(非流动资产),3,779,976,572,981,268,713,370,314,391,994,物业、厂房及设备,(非流动资产),5,906,823,3,330,057,2,585,227,1,230,029,905,670,附属公司权益,(非流动资产),0,0,0,0,0,联营公司权益,(非流动资产),4,399,978,1,145,175,477,622,302,712,179,其他投资,(非流动资产),4,343,602,4,126,878,494,872,86,180,136,651,应收账款,(流动资产),2,020,796,1,715,412,1,229,436,983,459,535,528,存货,(流动资产),0,0,0,5,483,1,701,现金及银行结存,(流动资产),12,612,140,10,408,257,6,043,696,3,067,928,2,948,757,应付帐款,(流动负债),2,244,114,1,380,464,696,511,244,647,117,062,银行贷款,(流动负债),7,369,350,5,298,947,202,322,0,292,184,非流动银行贷款,(非流动负债),0,0,0,0,0,总资产,56,804,365,35,830,114,17,505,765,9,855,557,6,925,444,总负债,28,340,530,14,073,170,5,327,258,2,834,631,1,755,048,股份数目,1,839,814,008,1,835,730,235,1,818,890,059,1,795,031,443,1,788,574,647,单位,千,千,千,千,千,币种,人民币,人民币,人民币,人民币,人民币,五、资产负债表,Tencent,腾讯,Tencent,腾讯,2,、利润表,2011,年,2010,年,2009,年,2008,年,2007,年,营业额,28,496,072,19,646,031,12,439,960,7,154,544,3,820,923,税项,-1,874,238,-1,797,924,-819,120,-289,245,33,505,除税前盈利,12,099,069,9,913,133,6,040,731,3,104,895,1,534,503,除税后盈利,10,224,831,8,115,209,5,221,611,2,815,650,1,568,008,少数股东权益,-21,748,-61,584,-65,965,-31,073,-1,988,股息,0,0,639,264,554,604,257,803,股东应占盈利,/(亏损),10,203,083,8,053,625,5,155,646,2,784,577,1,566,020,除税及股息后盈利,/(亏损),10,203,083,8,053,625,4,516,382,2,229,973,1,308,217,基本每股盈利,(元),561,443,286,155,88,摊薄每股盈利,(元),549,433,279,151,85,每股股息,(元),61,47,35,35,15,销售成本,9,928,308,6,320,200,3,889,468,2,170,421,1,117,557,折旧,1,207,732,669,860,405,876,264,360,147,326,销售及分销费用,1,920,853,945,370,581,468,518,147,297,439,一般及行政费用,5,283,154,2,836,226,2,026,347,1,332,207,840,113,利息费用,/融资成本,72,537,35,027,1,953,140,732,100,192,毛利,18,567,764,13,325,831,8,550,492,4,984,123,2,703,366,经营盈利,12,253,550,9,838,213,6,020,478,3,245,974,1,635,026,应占联营公司盈利,/(亏损),-189,986,75,758,22,206,-347,-331,单位,千,千,千,千,千,币种,人民币,人民币,人民币,人民币,人民币,Tencent,腾讯,Tencent,腾讯,现金流量表,2011,年年报,2010,年年报,2009,年年报,2008,年年报,2007,年年报,经营业务所得之现金流入净额,13,358,107,12,319,293,8,398,365,3,579,627,1,835,704,投资活动之现金流入净额,-15,354,758,-12,014,997,-5,024,795,-2,514,533,-734,247,融资活动之现金流入净额,4,373,024,4,112,146,-397,110,-869,940,78,809,现金及现金等价物增加,2,376,373,4,416,442,2,976,460,195,154,1,180,266,会计年初之现金及现金等价物,10,408,257,6,043,696,3,067,928,2,948,757,1,844,320,会计年终之现金及现金等价物,12,612,140,10,408,257,6,043,696,3,067,928,2,948,757,外汇兑换率变动之影响,-172,490,-51,881,-692,-75,983,-75,829,购置固定资产款项,-4,046,246,-1,488,220,-788,824,-1,333,008,-566,781,单位,千,千,千,千,千,币种,人民币,人民币,人民币,人民币,人民币,3,、现金流量表,Tencent,腾讯,三、盈利能力分析,（,1,）,资产报酬率,资产利润率,=,利润总额,/,资产平均总额,*100%=,利润总额,/,（资产总额年初数,+,资产总额年末数）,/2*100%,10,年：,9913133/,（,17505765+35830114,）,/2*100%=37.2%,11,年：,12099069/,（,35830114+56804365,）,/2*100%=26.1%,通过计算可知,11,年资产利润率较,10,年有所下降，说明,11,年腾讯的资产盈利能力下降了，企业管理者的资产配置能力也有所下降。,资产净利率,=,净利润,/,资产平均总额,*100%=,净利润,/,（资产总额年初数,+,资产总额年末数）,/2*100%,10,年：,8115209/,（,17505765+35830114,）,/2*100%=30.4%,11,年：,10224831/,（,35830114+56804365,）,/2*100%=22.1%,根据计算结果可以看出，,11,年资产净利率也有所下降说明企业对股权投资的回报能力减弱。,Tencent,腾讯,（,2,）,股东权益报酬率,股东权益报酬率,=,净利润,/,股东权益平均总额,*100%=,净利润,/,（期初股东权益总额,+,期末股东权益总额）,/2*100%,10,年：,8115209/,（,12178507+21756946,）,/2*100%=47.8%,11,年：,10224831/,（,21756946+28463834,）,/2*100%=40.72%,由此看出，,11,年股东权益报酬率降低，说明企业的盈利能力减弱，企业股东获取的投资报酬降低。,（,3,）,销售毛利率,销售毛利率,=,销售毛利,/,营业收入净额,*100%=,（营业收入净额,-,营业成本）,/,营业收入净额,*100%,10,年：,(9838213-6320200)/9838213*100%=35.76%,11,年：,(12253550-9928308)/12253550*100%=18.98%,销售净利率,=,净利润,/,营业收入净额,*100%,10,年：,8115209/9838213*100%=82.49%,11,年：,10224831/12253550*100%=83.44%,Tencent,腾讯,（,4),成本费用净利率,成本费用净利率,=,净利润,/,成本费用总额,*100%,10,年：,8115209/10806683*100%=75.1%,11,年：,10224831/18412584*100%=55.53%,有结果可知，,11,年比,10,年成本费用净利率低，说明企业为获取报酬而付出的代价增加，企业的盈利能力降低,(5),每股利润,每股利润,=,（净利润,-,优先股股利）,/,发行在外的普通股平均股数,10,年：,11,年：,由此可知，,11,年企业的盈利能力增强,每股现金流量,=,（营业活动产生的现金流量净额,-,优先股股利）,/,发行在外的普通股平均股数,10,年：,11,年：,由计算结果可知，,11,年每股现金流量增加