The Profitability Evaluation Of Listed Companies And Analysis On Influencing Factor Of Profitability

With economic globalization and the increasing number of listing corporation in china, it is worth studying that how to judge the actual profitability of enterprise when managers face massive financial information, and how to excavate the deep information in the changeful stock market to make the right investment decision. Profitability is an important mirror of management state, and is the bridge that contacts the capital market with the product market. It can provides reference standard for creditors and government, so it has important economic meaning.Most of the domestic and foreign research do not fully consider the profitability. Evaluation system is not integral and evaluation method is single. According the existing problems of current research status, this paper make a further supplement. Quantity and quality reflect the profitability, and establish a more complete evaluation index system through combining with the business profitability, profit cash, earnings stability and the growth of profit. This paper analyze 76 automobile manufacturing companies’ profitability in china in 2009 to 2013 by selecting 11 financial indicators and using descriptive analysis, factor analysis and TOPSIS method based on entropy-weight. The factor analysis show that the profitability and profit cash make the largest contribution to the profitability; profit cash and earnings stability are roughly the same; the contribution degree of the growth of profit is the smallest. At the same time, analyze the differences in the profitability of sub industries and its composition of profitability. The results show that they have different profitability.The paper establish multiple linear regression models by making overall score as the dependent variable and selecting 6 indexes. It checks correlation and eliminate the influence of heteroskedasticity. Concluded, it is have positive influence on profitability which is logarithm of total assets, liquidity ratio, the proportion of the ten shareholders and total asset turnover. Finally, according the consequence of profitability evaluation and influence factors, the paper put forward viable suggestions.