A Study On The Sustainable Growth Of Company A From The Perspective Of Finance

Since the reform and opening up,China's economy has made considerable progress.With the improvement of marketization,the aggravation of industry competition and the impact of new technology,how to achieve sustainable growth has become a common problem of enterprise management.Energy enterprises are no exception.After rapid development,they have a lack of stamina,and their operating efficiency is not as good as before.In order to explore the mechanism of its development and change,we use the theory and model of sustainable growth to analyze the enterprise from the financial angle of view,and explore the problems existing in the sustainable growth of enterprises.From the point of view of sustainable financial growth of energy enterprises,this paper selects company A as the research object,and studies its sustainable growth by using its relevant financial data and data from 2011 to 2016.In the theoretical part,the author first introduces the connotation of financial sustainable growth on the basis of reviewing previous studies,and then expounds the influencing factors of sustainable growth from external and internal aspects.Secondly,two kinds of sustainable growth models with different caliber are introduced,and the sustainable growth model of Higgins is selected after comparing various models.The case studies the current situation of enterprise development from profitability,solvency,operating capacity and dividend policy,andthen calculates the sustainable growth rate of enterprises by using Higgins model,and compares it with the actual sales growth rate.Then we analyze the causes of the deviation,that is,the net interest rate of sales,the turnover of total assets,the financing policy and the dividend policy.Through the analysis,we find that company A exists: the net interest rate of sales falls,the profitability is worrying;Bad accounts receivable management,bad debt risk accumulation,dividend policy is not scientific and so on.We put forward countermeasures and suggestions,including: to improve profitability;to implement the overall management of accounts receivable;to strengthen the management level,adjust the dividend policy.