Comparative Study Of Financial Performance Evaluation Of Listed Companies In The Steel Industry

Steel industry is an important pillar industry of our national economy, which is the important symbol of the national economy industry. And its development level directly affects the development of association industries, such as the construction, automobile, machinery, home appliances industry and so on. Listed steel companies as the main force of the steel industry, its level of the financial performance represents the status of the entire steel industry. Based on this, this paper makes a comparison analysis on the financial performance level in first three quarters of 2010 of 28 listed steel companies, which provides the objective information about the business management level, investment risks and development trend of 28 listed steel companies to government management department, enterprise managers and investors.First, this paper elaborates theoretical content of the listed companies'financial performance, which provides reference for the study direction. Second, according to the development process of steel industry, this paper analyses the characteristics of steel industry and its position in national economic development. Based on the basic theory and methods of financial performance evaluation of listed companies, this paper constructs four dimensions of the financial performance evaluation index system, including earning ability, debt-paying ability, operation ability and development ability. Third, make the 28 listed steel companies as the research objects, this paper selects 12 financial indexes data in first three quarters of 2010 as the sample data. Then this paper makes a comparison analysis on the financial performance level in earning ability, debt-paying ability, operation ability, development ability of listed steel companies by using the factor analysis. Fourth, without considering the premise of product characteristics,this paper establishes comprehensive financial performance model. The listed steel companies are classified 4 kinds companies, such as taurus, star, young children and thin dogs companies according to the whole financial performance score and ranking. At last, it provides some development strategy for the enterprises and government management department based on the comparative analysis of the financial performance of the 28 listed steel companies.