携程网英语财务分析.docx
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携程网英语财务分析.docx
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携程网英语财务分析
TheFinancialDataAnalysis
——Ctrip
制作人:
Content
I.COMPANYOVERVIE………………………….3
II.CTRIP’SSOURSEOFINCOME………………3
III.SUMMARYOFACCOUNTINGANDFINANCIALINFORMATION……………………………………4
IV.CODA………………………………………………9
V.References……………………………………………10
I.COMPANYOVERVIEW
Ctrip.International,Ltd.isaleadingtravelserviceproviderthatoffershotelreservations,airlineticketsandpackagedtourstobusinessandleisuretravelersinChina.Ctripaggregatesinformationonhotels,flightsandvacationpackages,andenablethecustomerstomakeinformedandcost-effectivetravelbookings.CtriptargetsprimarilyfrequentindependenttravelersinChinawhodonottravelingroup.Thesetravelersformatraditionallyunder-servedyetfast-growingsegmentoftheChinatravelindustry.
II.CTRIP’SSOURSEOFINCOME
(1)Hotelbookingagencyfee,whichisthemainsourceofprofitCtrip.WhileCtripalsoclearfront-linepaymentandpaythedifference,butmostofthehotelfrontdeskonlytothedestinationthatpaymentmethod.So,Ctrip'shotelbookingagencycostsisbasicallytheprofitfromthedestinationhoteldiscountsinreturnobtained;
(2)Ticketbookingfee,whichisthebookingfeefromthecustomertoobtain,isequaltothecustomerbookingfeeandairlineticketpricedifference;
(3)Walksinthehotelandbusinesstravel,airticketbookingagencyfees,theincomeapproachisconsistentwiththeprevioustwo;
(4)Onlineadvertising;
III.SUMMARYOFACCOUNTINGANDFINANCIALINFORMATION
朗Ctripfinancialanalysis
2010
2009
increase
IncomeStatement
Totalincome
2,881.23
1,988.01
44.93%
Grossprofit
2,255.97
1,537.40
46.74%
Netprofit
1,048.07
658.97
59.05%
BalanceSheet
Currentassets
4,570.91
2,306.30
98.19%
Totalassets
8,116.20
4,156.76
95.25%
Currentliabilities
1,880.90
1,158.54
62.35%
Totalliabilities
2,012.51
1,231.71
63.39%
Equity
6,103.69
2,925.05
108.67%
CashFlow
Netprofit
1,051.99
666.77
57.77%
Operatingactivities
1,550.22
1,027.59
50.86%
investingactivities
-2,440.40
-762.37
220.11%
financingactivities
1,625.35
96.86
1578.04%
NetChangeinCash
719.32
364.79
97.19%
Throughthetableabove,wecanseethat,in2010Ctrip’srevenuesgrewby44.93%,indicatingthescaleofthebusinesshasexpanded.Well-controlledoperatingcostsresultedinthegrowthofgrossmarginrate,etc,reasonablecostcontrolultimatelyleadthenetprofitincreasedby59.05%,whichagreatsymbolofcompany’sgoodcondition.
FinanceIndexanalysis
Ctrip2010
Ctrip2009
Increase
Mainindexentry
Currentratio
2.43
1.99
0.22
CurrentAssetsTurnover
0.84
0.86
-0.03
Netprofitmargin
35.31%
34.22%
3.19%
Operatingmargin
37.13%
36.59%
1.48%
Returnonaverageassets
4.11%
16.06%
-74.41%
Returnonaverageequity
20.32%
3.22%
531.06%
Everydollarofoperatingprofitmargin,saidnetsalesrevenueinlookingfor,thehighertheratio,indicatingthechargethroughtheabilitytoexpandsalestogetstronger.Enterprisesintheireffortstoexpandsales,increasetheamountofsalesrevenue,whilemanagementmustbeimprovedtoreducecosts,toacorrespondingincreaseinnetprofit,thesalesvolumeremainedunchangedorincreased.Fromthetabledatashowednetsalesrelativelystable,indicatingtherelativelystablebusinessconditions,marketcompetitive,butalsointoarisingtrend,withanaveragereturnonequityishigh,indicatingthecompany'sgrowthpotential
CtripandeLongintegratedfinancialindexanalysis
Ctrip2010
ELong2010
Ctrip2009
ELong2009
Mainindexentry
Currentratio
2.43
1.63
1.99
1.30
CurrentAssetsTurnover
0.84
2.67
0.86
1.08
Netprofitmargin
35.31%
4.03%
34.22%
3.18%
Operatingmargin
37.13%
9.19%
36.59%
9.58%
Returnonaverageassets
4.11%
1.68%
16.06%
0.33%
Returnonaverageequity
20.32%
1.93%
3.22%
0.54%
显示对应的拉丁字符的拼音
字典
IV.Coda
Allabove,Ctripisawell-knownenterprisewhichisobviouslybetterthanElongfromthedata.Moreover,Thequalityoflifeandtravelservices,today,isadvocated.It’sthattosay,thequalityofserviceandconvenienttravelaremoreandmoreimportant.Ctriphasrealizedthisearly.Theyhavepaidattentiontokeepbetterqualityofserviceproducts.Fromtheanalysisabove,wecanseethat,in2010,Ctrip’srevenuehaveagreatgrowth,indicatingthescaleofthebusinesshasexpanded.Well-controlledoperatingcostsresultedinthegrowthofgrossmarginrate,etc,reasonablecostcontrolultimatelyleadtheincreaseofnetprofit,whichagreatsymbolofcompany’sgoodcondition.
V.References
Ctripannualreports:
2009,2010
DataSource:
.hexun.
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