6. Financial analysis
1. The demand and application of funds
1. The license usage fee has been used from the first-level agent, and the fund will be more than 1 million yuan.
2. Fixed asset investment includes the purchase of servers, R & D equipment and other hardware facilities. The company's residence takes a rental method, with a total of 3 million yuan, and put into three phases.
1 million in the first phase (first year)
The second phase (third year) 1 million
The third phase (fifth year) 1 million
3, the company's operating charge includes registration, decoration, person recruitment and external contact fee, a total of 150,000
4. Mobile assets include employee wages, advertising, etc., a total of 850,000
2, general financial assumption
(1) The company is a high-tech enterprise, according to the national tax policy, the company can exempt the income tax in two years from the year of production, and the income tax rate after two years is 15%.
(2) Management costs generally account for 5% of sales revenue, and advertising expenses account for 3% of sales revenue, and more expenditures are more expensive. Production, sales expenses. 30% of sales revenue
(3) The amortization period of intangible assets is 10 years and takes an average annual limit to amortize.
(4) The depreciation period of fixed assets is 10 years, and there is no residual value at the end of the period.
(5) The recovery period of receivables is 60 days in the first year, from the second year for 30 days.
(6) The payment period payable is 45 days.
3, financial statements
The five-year expected financial statements of the company's establishment of the company are as follows, including profit or loss table, cash flow table, balance sheet
Gains
Unit: 10,000 yuan
Year 1st, 3rd Thorns
Sales Revenue 217.4 351.1 564.3 733.6 953.7
Reduce: total costs 168.1 182.6 273.8 343.5 343.5
Maori 49.3 168.5 290.5 390.1 610.2
Reduce: Income Tax 0 43.6 58.5 91.5
Net income 49.3 168.5 246.9 331.6 518.7
Reduce: According to shares # 33.7 49.4 66.3 103.7
Not allocated 49.3 134.8 197.5 265.3 415.0
Accumulated unallocated profits 49.3 184.1 381.6 646.9 1061.9
Current flow table
Unit: 10,000 yuan
Year 1st, 3rd Thorns
1. Operating cash flow 49.9 177.5 272.9 355.2 540.2
(1) Net income 49.3 168.5 246.9 331.6 518.7 (2) Accounts receivable decreased - 36.2 -29.3 -31.4 -40.8 -52.9
(3) Depreciation 10.0 10.0 20.0 20.0 30.0
(4) amortization 10.0 10.0 10.0 10.0 10.0
(5) Added accounts increase 16.8 18.3 27.4 34.4 34.4
2, investment cash flow -100 0 -100 0 -100
3, finance cash flow 400 -33.7 -49.4 -66.3 -103.7
(1) Interest increase 400 0 0 0 0
(2) According to the shares, the dividend is 0 -33.7 -49.4 -66.3 -103.7
4, this year's cash increased 349.9 143.8 123.5 288.9 336.5
5, year-end cash balance 349.9 493.7 617.2 906.1 1242.6
Equipment negative debt
Unit: 10,000 yuan
Year 1st, 3rd Thorns
assets
1. Flow assets
Cash 349.9 493.7 617.2 906.1 1242.6
Accounts 36.2 65.5 96.9 137.7 190.6
2, fixed assets
The original price of fixed assets is 100.0 100.0 200.0 200.0 300.0
Reduce: Accumulated Depreciation 10.0 20.0 40.0 60.0 90.0
Fixed asset net value 90.0 80.0 160.0 140.0 210.0
3, intangible assets
Intangible asset original value 100.0 100.0 100.0 100.0 100.0
Reduce: Amortic amortization 10.0 10.0 10.0 10.0 10.0
Intangible asset value 90.0 80.0 70.0 60.0 50.0 assets 566.1 719.2 944.1 1243.8 1693.2
Liability
1, flow liabilities
Accounts payable 16.8 35.1 62.5 96.9 131.3
Owners' equity
1. Received Capital 500 500 500 500 500
2, no distribution of profits 49.3 184.1 381.6 646.9 1061.9
Liabilities and owner equity: 566.1 719.2 944.1 1243.8 1693.2
4, financial analysis
The company has strong profitability and ability to resist risks, which can make specific analysis from the following indicators.
1. Analysis of investment recovery:
Cash inflow outflow form: 10,000 yuan
Years No. 0 The second phase of the second phase of the third phase
Cash inflow 217.4 351.1 564.3 733.6 953.7
Cash flow (300) (168.1) (216.3) (366.3) (468.3) (638.7)
Cash net traffic 49.3 134.8 197.5 265.3 315.0
From the above cash flow table, it can be seen that the investment recovery period of the investment in the third year, the third year can reach the balance of payments, and the investment cost is completely recovered. That is to say, after entering the fourth year, as long as the company is working well, you can get pure income.
1. Analysis of profit growth rate
The growth rate of profits can be visually reacted from the following graphics. The increase in profit growth rates at 45.7%.
2. Analysis of assets return rate
The comprehensive utilization effect of the total assets of the Assets Reaction, the company's ROA is 8.7%, 23.4%, 26%, 26.7%, 30%, respectively, in the expected five years. From these five values, it can be seen that the comprehensive utilization effect of total assets is better year, and the company has good financial results and grows well.
4, equity multiplier analysis
The multiplier of equity indicates that the total assets accounts for the total equity, from the company's capital structure, the proportion of rights in total assets is high, up to
90
% Or more, so companies still have a large financing space. After the company has developed, external financing can be used to raise funds for enterprises, which is conducive to the continued and stable development.
