苏宁和国美08-10年重要财务数据表

营业总收入15,936,391.1926,161,252.0040,152,371.0049,6,709.00营业成本14,393,441.3922,268,806.0034,346,740.0041,334,756.00销售费用1,536,435.212,207,862.002,985,538.004,780,468.00管理费用314,071.392,975.00493,581.00784,521.00其他营业费用

财务费用26,461.6223,581.00-88,162.00-223,290.00营业利润*554,626.101,147,1.002,250,060.002,9,374.00 EBIT*576,472.611,171,059.002,153,196.002,727,583.00折旧摊销125,245.51208,509.00218,017.00379,819.00 EBITDA*701,718.121,379,568.002,371,213.003,107,402.00税前利润550,010.991,147,478.002,241,358.002,950,873.00税后利润372,538.22797,536.001,523,168.002,259,928.00（1-T）67.73%69.50%67.96%76.59%销售毛利率9.68%14.88%14.46%17.16%销售利润率 2.34% 3.05% 3.79% 4.53% EBIT利润率 3.62% 4.48% 5.36% 5.47%净利润率 2.34% 3.05% 3.79% 4.53%资产利润率8.61%9.03%9.39%10.45%资本利润率31.87%25.25%32.94%25.75%成本收入比率9.%8.44%7.44%9.58% ROE31.87%25.25%32.94%25.75%税前ROIC46.15%34.10%45.20%30.54%税后ROIC31.26%23.70%30.72%23.39%销售盈利能力 3.62% 4.48% 5.36% 5.47%资本使用效率1275.88%761.80%842.91%558.63%财务费用支付程度95.41%97.99%104.09%108.19%财务杠杆效应106.84%108.74%103.03%101.78%税负效应67.73%69.50%67.96%76.59%

总资产4,327,207.788,829,047.0016,229,651.0021,618,527.00总资产周转次数 3.68 2.96 2.47 2.31存货周转天数51.1655.8548.3843.34应付账款周转天数70.1879.81103.3994.75信用天数19.0223.9655.0151.41流动资产3,859,048.198,076,092.0013,598,194.0017,188,227.00现金存款有价证券703,283.3,339,781.007,465,293.0010,574,232.00

应收款票据

（含其他应收款）应收款票据

（不含其他应收款）271,152.72163,220.00201,367.00204,519.00

132,291.00110,127.00

2005~2008年苏宁和国美的有关重要财务数据表205,966.0392,088.00预付款774,360.971,014,318.001,021,992.001,081,882.00存货2,017,437.863,407,269.004,552,543.004,908,211.00流动比率 1.25 1.46 1.19 1.38速动比率0.600.840.790.98现金比率0.230.600.660.85营运资本需求量比

率

0.180.290.140.22固定资产251,115.97383,681.001,869,265.003,316,431.00长期资产468,159.59752,955.002,631,457.004,430,300.00总负债3,0,079.015,535,283.0011,401,771.0012,506,207.00流动负债3,086,529.015,531,770.0011,390,5.0012,478,565.00短期贷款80,000.00276,000.00140,000.00156,000.00应付款2,767,336.424,869,201.009,728,996.0010,729,863.00预收款,732.52126,368.00281,805.00184,822.00长期负债2,550.003,513.0011,126.0027,2.00长期贷款0000有息负债*80,000.00276,000.00140,000.00156,000.00总资产负债率0.710.630.700.58有息负债率0.020.030.010.01权益资产比0.270.360.280.41长债资产比0.000.000.000.00权益长债比458.458.99415.56317.49权益投入资本比0.940.920.970.98所有者权益1,169,047.143,158,136.004,623,562.008,775,957.00投入资本*1,249,047.143,434,136.004,763,562.008,931,957.00经营净现金149,229.94150,751.003,496,476.003,819,141.00现金创造能力0.280.15 2.12 1.58现金销售比0.010.010.090.08现金资产比0.030.020.220.18投入资本获现率0.120.040.730.43权益资本获现率0.130.050.760.44净利润现金含量0.400.19 2.30 1.69 WACC0.140.140.150.15 EVA212,378.63330,574.61765,020.50766,688.25每股经营净现金0.440.10 2.430.85筹资净现金61,660.011,423,010.00-141,008.002,023,693.00投资净现金-335,916.72-432,753.00-1,357,593.00-2,450,316.00当年现金增减-125,026.541,141,008.001,997,875.003,392,518.00年末现金余额360,376.781,503,345.003,501,220.006,3,738.00

数据整理说明（1）EBIT=税前利润+净财务费用；（2）EBITDA=EBIT+折旧和摊销；（3）投入资本=权益资定Kd=实际利率或5%；Ks=股东预期回报率或15%，则：WACC=（有息负债/投入资本）5％（1－

（数据来源：苏宁国美2005-2008年报）美的有关重要财务数据表

单位：人民币千元05国美06国美07国美08国美

17,959,258.0024,729,192.0042,478,523.0045,8,257.00

16,307,478.0022,369,445.0038,383,276.0041,381,223.00

1,228,433.002,123,158.003,547,907.004,487,131.00 268,868.00418,329.00686,740.00828,028.00

96,555.00156,087.00604,768.00515,357.00

-70,305.00-60,750.00-230,872.00-228,9.00

868,7.001,068,222.001,528,097.001,533,849.00

798,459.001,007,472.001,297,225.001,304,950.00

850,848.001,125,249.001,562,670.001,610,832.00

52,3.00117,777.00265,445.00305,882.00

868,7.001,068,222.001,528,097.001,533,849.00

776,867.00942,624.001,167,835.001,098,693.00

.42%88.24%76.42%71.63%

9.20%9.54%9.%9.82%

4.33% 3.81% 2.75% 2.39%

4.45% 4.07% 3.05% 2.84%

4.33% 3.81% 2.75% 2.39%

8.29% 4.45% 3.91% 4.00%

41.51%17.99%11.24%12.63%

7.38%9.22%9.78%10.90%

41.51%17.99%11.24%12.63%

42.67%14.59%9.35%10.49%

38.15%12.88%7.14%7.51%

4.45% 4.07% 3.05% 2.84%

959.72%358.23%306.11%368.90%

108.81%106.03%117.80%117.54%

100.00%131.73%133.53%142.98%

.42%88.24%76.42%71.63%

9,367,4.0021,176,229.0029,837,493.0027,495,104.00

1.92 1.17 1.42 1.67

61.0079.6751.1948.28

152.32207.80128.91113.94

91.32128.1377.7265.66

8,406,830.0015,497,138.0022,337,559.0018,482,711.00

1,079,347.001,451,837.006,269,996.003,051,069.00 959,753.006,697.00995,439.00726,601.00

840,106.002,652.00176,743.00102,935.00347,370.00873,187.001,393,302.00760,6.00 2,725,375.004,882,754.005,383,039.005,473,497.00

1.12 1.04 1.38 1.22

0.760.71 1.050.86

0.140.100.390.20

0.100.030.210.12

909,631.002,206,673.003,144,458.003,719,829.00

961,0.005,679,091.007,499,934.009,012,393.00 7,496,600.0015,935,840.0019,444,825.0018,795,069.00

7,496,600.0014,955,396.0016,180,091.0015,147,247.00

0729,330.00300,000.00170,000.00 6,805,360.0012,735,177.0013,556,545.0012,917,958.00

0000

0980,444.003,2,734.003,7,822.00

0933,490.003,184,303.003,569,553.00

01,662,820.003,484,303.003,739,553.00

0.800.750.650.68

0.000.080.120.14

0.200.250.350.32

0.000.050.110.13

#DIV/0! 5.34 3.18 2.38

1.000.760.750.70

1,871,294.005,240,3.0010,392,668.008,700,035.00

1,871,294.006,903,209.0013,876,971.0012,439,588.00 522,792.00-126,010.002,560,723.003,610,360.00

0.34-0.06 1.02 1.46

0.03-0.010.060.08

0.06-0.010.090.13

0.28-0.020.180.29

0.28-0.020.250.41

0.67-0.13 2.19 3.29

0.150.120.120.12

433,287.9429,571.32-700,696.07-504,201.66

01,505,866.005,490,327.00-4,514,568.00 -1,092,385.00-1,003,863.00-3,142,291.00-2,213,5.00 -569,593.00375,993.004,908,759.00-3,117,853.00

1,079,347.001,451,837.006,269,996.003,051,069.00销；（3）投入资本=权益资本+有息负债，其中：有息负债=长期贷款+短期贷款。（4）假息负债/投入资本）5％（1－T）+（权益/投入资本）15％