杜邦分析法下家电行业盈利能力分析——以D公司为例
Analysis of Profitability in the Home Appliance Industry under DuPont Analysis—A Case Study of Company D

近年来，经济下行压力下国内家电行业竞争日益加剧，消费者需求逐步呈现多样化，家电企业发展面临一定压力。本文以家电行业的D公司为研究对象，基于2019~2023年的财务数据，利用杜邦分析法从净资产收益率、销售净利率、总资产周转率和权益乘数等关键指标对D公司的盈利能力进行综合分析，总结D公司在存货管理和应收账款管理等方面存在的问题，并提出相应的增强D公司盈利能力的建议。
In recent years, under the pressure of economic downturn, the competition in the domestic home appliance industry has intensified, and consumer demand has gradually diversified, posing certain challenges for the development of home appliance enterprises. This paper takes D Group as the research subject. Based on its financial data from 2019 to 2023, the DuPont analysis method is used to comprehensively analyze the profitability of D Group from key indicators such as return on equity, net profit margin, total asset turnover, and equity multiplier. The paper summarizes the issues in D Group’s inventory management and accounts receivable management, and proposes corresponding suggestions to enhance the company’s profitability.