摘要:在經濟日益發展的社會中，企業目標由利潤最大化轉為價最大化。因此如何評價企業價值受到企業管理者和投資者的重視。財務報表是企業有關重要經濟活動的綜合反映，為企業經營者，投資人，債券人提供所需信息。通過研究上市公司的財務報表，能夠評價企業過去的經營成果，衡量企業目前經濟狀況，預測企業未來的發展趨勢。

　　　對財務報表的分析，簡單而直接的是有助于現在的或潛在的投資者正確、合理地評價公司的資產質量、償債能力、盈利能力、和運營效率，有助于投資者評估與投資有關的未來現金流量的金額、時間和風險等，從而有助于投資者做出理性的投資決策。這里我們主要探索在證券市場上如何利用財務報表進行投資選擇，主要包括（1）償債能力分析。償債能力是公司償還到期債務的能力，包括短期償債能力和長期償債能力。(2) 營運能力分析。衡量營運能力的指標主要有流動資產周轉指標、固定資產周轉指標和總資產周轉指標三項。(3)盈利能力分析。反映公司盈利能力的指標主要有：主營業務利潤、成本費用利潤率、總資產報酬率、凈資產收益率。以及關于這幾個方面的分析方法和各方面的局限性。

關鍵詞: 財務報表,償債能力,營運能力，盈利能力，上市公司

Abstract:In the economic development of society. Business goals from profit maximization to value maximization. Therefore how to evaluate the enterprise value by enterprise managers and investors attention. Financial statements are the important economic activities of enterprise comprehensive reflection, for enterprise managers, investors, creditors and provide the required information.Through the research on the financial statements of listed companies, to evaluate the past operating results, a measure of enterprise economy at present, predict its future development trend.

　　　Analysis on the financial statements, simple and direct to contribute to the current or potential investors correctly, reasonable evaluation of the company 's asset quality, profitability, solvency, operating efficiency, help investors assess and investments related to the amount of future cash flows, time and risk, and thus contribute to the investors to make rational investment decisions. Here we explore primarily in the securities market, how to use the financial statements of investment options, including(1) Solvency analysis. Solvency is the company to repay due debt ability, including short-term solvency and the long term solvency.(2) Operational capability analysis. Measure the operating capacity of the main indexes are the turnover of current assets index, fixed assets turnover index and total assets turnover index three. Profitability analysis. Reflect the company's profitability indicators are: the main business profit, cost profit rate, the rate of return on total assets, net assets income rate. As well as on several aspects of this analysis method and the limitations.

Key Words： Financial statements,  solvency,  operating capacity,  profitability,  listed company

　　利用財務報表對企業財務狀況進行分析評價，能夠綜地分析和評價公司的財務狀況和經營成果。因此，要在財務分析中要樹立科學的態度，這樣才能提高財務分析水平。堅持全面分析原則，從不同角度對企業財務報表進行分析判斷。同樣的問題站在不同的角度分析，可以得出不同的結論。堅持多元立體分析原則，綜合運用多種分析方法。在進行財務報表分析時，要從各項財務分析指標 的變化中把握企業的經濟活動規律，全面評價企業的財務狀況和經營成果。