更新时间：04-27 （qiaohao）提供原创文章
摘要:新会计准则的颁布，改变了企业利润的操纵的方式和手段。如何根据各种企业财务数据，分析企业真实利润水平，得出具有价值的投资信息是投资人需要解决的问题。传统的企业利润数据都是以数量的形式体现，并没有相应的指标衡量和考察企业利润质量的高低。
本文从利润结构的角度，以徐工机械公司2008年--2011年四年的财务报告数据为基础，运用趋势分析法和构成比率分析法，从利润的构成部分和比重关系来衡量徐工机械公司利润质量的高低。从而发现以下问题：徐工机械公司虽然有较高的营业利润比率和核心利润比率，但是实际上并没有相应的现金流入企业，企业正常的生产经营难以保持极有可能出现盈利性破产的情况；徐工机械公司虽然具有较高的利润质量，结合利润表成本项目分析可知徐工机械公司实现较高的利润同时也伴随着较高的成本费用。
针对分析过程中发现的问题，本文提出以下三种解决方法：加强应收账款管理，增加企业现金回流量；控制成本费用，改善企业财务状况；重视主营业务，提高核心利润。
企业不仅仅要重视利润的数额，还要注重利润质量的高低。在市场竞争越来越激烈的情况下，企业只有实现利润数额的增长并且保持较高的利润质量才能立于不败之地。
关键词 利润结构；利润质量；营业利润比率；非经常性项目；核心利润
Abstract: On a variety of business-related data, it's important to analyze the real profits of the enterprise for investors to draw valuable investment issues of common concern.The traditional corporate profits data are embodied in the form of the number .There is no appropriate indicators to measure and study the level of quality of corporate profits.
From the point of view of the profit structure, we use XCMG 2008 - 2011 four-year financial report data. In this paper, we try to use the method of trend analysis and composition ratio analysis, with the development of operating profit ratio, the ratio of operating income, net investment income ratio, core profit ratio, net profit, operating index and net cash ratio and other indicators, measure XCMG profit level of quality. We found the following problems:XCMG had higher operating profit ratio and core profit ratio, but in fact there is no corresponding cash flow to the enterprise. It's is highly probable that the bankruptcy of profitability in the condition that maintaining normal production and operation of enterprises is difficult;XCMG has a high profit quality, but also associated with a higher cost to achieve higher profits,with the analysis of cost items of the income statement.
According to the problems above, we propose the following three solutions: Increase their cash back flow and strengthen the management of accounts receivable; Control costs and improve the financial situation of enterprises; Great importance to the main business and improve core profit.
In the increasingly fierce market competition, the company has only realize the amount of profit growth and maintain a high quality of profits to be invincible.
Keywords operating profit ratio profit structure non-recurring items profit quality