某建设项目最新的财务分析

1、建设项目财务分析项目背景：某工业项目计算期为16年，建设期为3年，第4年投产，第5年开始达到生产能力1.建设投资16000万元。分年投资情况如下：（单位：万元）项目/年末1234建设投资50007000400016000该项目的固定资产综合折旧年限为15年，残值率为5%,采用直线折旧法折旧,期末余值等于账面余值。2 .流动资金约为4980万元，投产前一年末一次投入（三年末）。3 .销售收入、销售税金及附加和经营成本的预测值如下，其它支出忽略不计（单位：万元）项目/年末45615销售收入11200160001600016000销售税金及附 加640960960960经营成本70001000010

2、000100004 .建设投资16000万元中，权益投资8000万元，权益投资分年出资为3000万元、 3000万元和2000万元，不足部分向银行借款。银行贷款条件是年利率6%,建 设期只计息不付息还款，将利息按复利计算到第四年年初，作为全部借款本金。 投产后（第四年末）开始还贷，每年付清利息，并分10年等额还本。5 .流动资金投资4980+学号后两位数，全部向银行借款（始终维持借款状态），贷款年利率也是6%要求:1 .融资前盈利能力分析（编制利润与所得税计算表、全部投资现金流量表 ），计算 融资前所得税后的内部收益率。假如长期借款的利率为10%,股权融资要求白投资回报率9%,又能设法从银行

3、借到50%的初始投资，说明这个项目是否可能考虑？2 .融资后盈利能力分析（编制借款需要量计算表、固定资产投资借款还款计划表、 利润与所得税计算表、全部投资现金流量表、自有（权益）资金投资现金流量表）， 计算全部投资、自有（权益）投资的静态投资回收期、内部收益率。假如行业基 准收益率为10%,判断项目的可行性？3 .编制财务计划现金流量表，判断项目基本生存能力？4 .编制资产负债表，计算资产负债率等指标，分析项目负债情况和偿债能力？5 .对项目作出财务分析的综合评价。表1、利润与所得税计算表 （融资前）（单位：万元）序号项目计算期4567891011121314151销售收入1120016000

4、160001600016000160001600016000160001600016000160002销售税金及附加6409609609609609609609609609609609603总成本费用801311013110131101311013110131101311013110131101311013110133.1经营成本700010000100001000010000100001000010000100001000010000100003.2折旧1013101310131013101310131013101310131013101310133.3利息支出4利润总额（1 2 3）254

5、7402740274027402740274027402740274027402740275所得税（43%）840.5132813281328132813281328132813281328132813286税后利润170626992699269926992699269926992699269926992699表2、全部投资现金流量表（融资前）（单位：万元）序号项目计算期1234567891011121314151现金流入1120016000 -6000 16000 16000 16000 16000 160)00 16C00 160(00 16000 248531.1销售收入160001.2

6、回收固定资产余值38401.3回收净营运资金50142现金流出500070009013764010960109600960 10960 1)960 1()960 10960 10)60 10960 109)0 109602.1建设投资（不含建设 期利息）5000700040002.2净营运资金50142.3经营成本700010000100000000 10000 1)000 10)000 10000 10()00 10000 100()0 100002.4销售税金及附加6409609609609609609609609609609609603所得税前净现金流量（1-2）-5000 -7000

7、-90133560504050405040504050405040504050405040504050404累计所得税前净现金流量-5000-12000-21013-17453-12413-7373233327077747127871782727867 2!7907 32947 3'9875所得税840.5132913291329132913291329132913291329132913296所得税后净现金流量（3-5）-5000 -7000 -96132719371137113711371137113711371137113711371196317累计所得税后净现金流量-5000-

8、12000-21613-18894-15183-11472-7761 -4050-339331276981137915091188102：2513（单位：万元）表3、借款需要量计算表项目 年末1234合计建设投资总数500070004000016000净营运资金00050145014权益资金30003000200008000借款需要量200040002000501413014（单位：万元）建设期利息计算表4、固定资产投资还贷计划与利息计算（单位：万元）项目年末1234附注年初欠款020606303.68742当年借款200040002000当年利息60243.6438.2524.5年末欠款累计

9、20606303.68741.89266.3项目年末45678910111213期初本息余额8741.87867.66993.46119.35245.14370.93496.72622.51748.3874.2本期付息524.5472.1419.6367.2314.7262.3209.8157.4104.952.5本期还本874.2874.2874.2874.2874.2874.2874.2874.2874.2874.2期末本息余额7687.66993.46119.35245.14730.93496.72522.51748.4874.20表5、利润与所得税计算表（融资后）（单位：万元）序号顷目

10、计算期4567891011121314151销售收入1120016000160001600016000160001600016000160001600016000160002销售税金及附加6409609609609609609609609609609609603总成本费用8886118341187211729116771162411571115191146611413911361113613.1经营成本700010000100001000010000100001000010000100001000010000100003.2折旧1060.31060.31060.31060.31060.3106

11、0.31060.31060.31060.31060.31060.31060.33.3利息支出825.6773.2721.4688.2615.8563.3510.9458.4405.9353.5301.1301.14利润总额（1 23）1674.13206.53258.33311.53363.93416.43468.83521.33573.73626.23678.63678.65听得税（43%）552.51058.21075.310931110.11127.41144.71162.81179.31196.61213.91213.96税后利润1121.62148.421832218.52253.8

12、2288.92324.12359.32394.42429.52464.92464.9序号项目计算期1234567891011121314151现金流入1120016000160001600016000160001600016000160001600016000250311.1销售收入160001.2回收固定资产余值40181.3回收（流动）净 营运资金50142现金流出500070009013764010960109601096010960109601096010960109601096010960109602.1建设投资（不含 建设期利息）5000700040002.2净营运资金50142.

13、3经营成本700010000100001000010000100001000010000100001000010000100002.4销售税金及附 加6409609609609609609609609609609609603所得税前净现金流量（1-2）-5000-7000-901335605040504050405040504050405040504050405040140764累计所得税前 净现金流量-5000-12000-21013-17453-12413-7373-2383270777471278717827228672790732947470185所得税5531058107510931

14、11011271145116211791197121412146所得税后净现金流量（3-5）-5000-7000-9013300839823965394739293913389533783861384438261286表6、全部投资现金流量表（融资后）（单位：万元）7累计所得税后 净现金流量-5000-7000-21013-18006-14024-10059-6112-218217305625950313364172072100633892表7、权益资金投资现金流量表(单位：万元)序号项目计算期1234567891011121314151现金流入112001600016000160001600

15、0160001600016000160001600016000250311.1销售收入1120016000160001600016000160001600016000160001600016000160001.2回收固定资产余值40181.3回收净营 运资金50142现金流出3000300020002.1权益投资3000300020009892.313665136311359513560135251348913771134191338412475124752.2借款本金偿还874.2874.2874.2874.2874.2874.2874.2874.2874.2874.22.3借款利息支付82

16、67737216686165635114584063543023022.4经营成本700010000100001000010000100001000010000100001000010000100002.5销售税金 及附加6409609609609609609609609609609609602.6所得税552.51058.21075.31093111011271145147911801197121412143净现金流量(1-2)-3000-3000-2000130823352369240524402475251022292581261635253525项目年份4567891011121314

17、15利润总额1674.13206.53528.63311.53363.93416.43468.83521.33573.73626.23678.63678.6所得税55310581075109311101127114511621179119712141214税后利润112221492183221922542289232423592395243024682468盈余公积金112215218222226229233236240245247247公益金56108109111113115116118120122123123应付利润9531826185618861916194619762006203620

18、8320952095未分配利润利润分配表（单位：万元）注：盈余公积金=税后利润10%计提公益金=税后利润5%计提应付利润=税后利润-盈余公积金-公益金序号项目计算期1234567891011121314151经营现金流量表（1.1-1.2）11200160001600016000160001600016000160001600016000160001.1现金流入112001600016000160001600C1600c1600c1600C1600C1600C11600C11.1.1销售收入112001600016000160001600C1600c1600c1600C1600C1600C11

19、600C11.2现金流出1.2.1经营成本70001000010000100001000c1000c1000C1000C1000C1000C11000C1100001.2.2销售税金及附加64096096096096096096C96C96(96C)96C)9601.2.3所得税552.41058.11075.310931110.11127.41144.71478.81179.3:1196.6>1213.91213.92投资活动净现金流量(2.1-2.2)-5000-7000-90132.1现金流入2.2现金流出5000700090132.2.1建设投资5000700040002.2.2流动资产投资50133筹资活动净现金流量(3.1-3.2)5000700090138546.912526.512548.912571.912594.31261712639.51262212684.712689.21现金流入50007000901311200160001600016000160001600016000160001600016000160003.1.1权益资金投入3000300020003.1.2建设投资借款2000400020003.1.3营运资金借款50133.2现金流出2653.13473.53451.13428.13405.733833