FVS final演讲稿(1)——FVS final report资料文档.docx

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1、Life CycleAccording to the comparison of operating activities, investing activities, net income and free cash flow, Ali is at growth phaseOperating Cash Flow lnflowIn the operating activities cash income, net sales and revenues accounted for 95.00%, the company management belongs to the normal;Opera

2、ting Cash OutflowIn the operating activities cash outflow, Depreciation and amortization will bring outflows accounted for 28% , Noncurrent deferred income taxes 20%, and Increase in taxespayable accounted for 17%, That means, Ali mainly to raise cash by ， and Investing cash outflow1. In the operati

3、ng activities cash outflow, Acquisitions of equity investees will bring outflows accounted for 42%. That means, Ali mainly to raise cash by Acquisitions of equity investeesFinancing cash inflow1. In the financing activities of cash income, accounted for 36.00%, ， So,these three methods are the major

4、 method of financing.2. In general, Alis total cash inflow is more than cash outflows, so it had the solvency.Cash Flow Adequacy RatioCash Flow adequacy ratio index is measure of commercial banking management an important indicator of whether the steady, it reflects the commercial Banks capital can

5、not only withstand the risk of bad debt losses, but also can operate normally, the ability to achieve profitability.1. A commercial bank capital adequacy ratio is higher, the risk the greater the ability to withstand a default assets, their capital also have less risk.2. 但从盈利角度看，资本充足率并非越高越好，因为较低的资本充

6、足率，意味着商业银行 开展资产业务所需资本的支持数量相对较少，资金成本也相应提高。But from a profit perspective, the higher the capital adequacy ratio is not the better, because of low capital adequacy ratio, the mean number of capital support required commercial Banks to carry out the assets of the business is relatively small, the cost o

7、f capital also increase accordingly.1. The peoples bank of our country commercial bank capital adequacy ratio shall be not less than 8%.Reinvestment Ratio.现金再投资比率是衡量公司来自经营活动的现金的留存部分与各项资产之和的比率。 Cash reinvestment ratio is to measure the company retained part of the cash from operating activities and t

8、he ratio of the sum of all assets.1 .现金再投资比率越低，表示公司可用于各项资产上的再投资的现金越少。一般而言，现 金再投资比率达到8%10%,是比较理想的比率。阿里巴巴比京东的现金再投资比率高，但他们都不是理想比率。Cash reinvestment ratio is lower, said the company can be used for all assets in the less the reinvestment of cash. In general, cash reinvestment ratio reached 8% 10%, the ratio of is ideal.第2页，共2页