2.

Phn tch hiu qu qun l v s dng ti sn

2.1 Phn tch hiu qu qun l v s dng ti sn chung
- S vng quay ca ti sn(TAT)
=

Doanh thu thun

Tng ti sn bnh qun

Ch tiu
Doanh thu thun
Tng ti sn
Tng ti sn bnh
qun
TAT

Nm 2009
Nm 2010
2.821.219.829.270
3.616.801.420.380
470.582.111.764
464.326.900.661

+/%
795.581.591.110
28,20
-6.255.211.103
-1,33

Ch tiu
Doanh thu thun
Tng ti sn
Tng ti sn bnh
qun
TAT

Nm 2010
Nm 2011
+/%
3.616.801.420.380
4.732.648.392.681 1.115.846.972.301
30,85
464.326.900.661
448.555.228.764
-15.771.671.897
-3,40

467454506213
7,74

456441064713
7.74

10,37

2.63

33.98

ngha: S vng quay ca ti sn nm 2011 bng 10.37 vng cho bit:

+ Trong nm 2011 c bnh qun u t vo 1ng ti sn s to ra 10.37 ng doanh thu thun.
+ c c 10.37 ng doanh thu thun th cn u t 1 ng ti sn.
Nm 2011 so vi nm 2010 s vng quay ca ti sn quay nhanh hn 2.63 vng tng ng
33.98% do nm 2011 doanh thu thun tng 30.85% m tng ti sn li gim 3.4%. Nh vy u
t 1 ng ti sn em li nhiu doanh thu hn, hon vn nhanh hn.
-

Sut hao ph ca ti sn so vi doanh thu thun

= Tng ti sn bnh qun
Doanh thu thun
Nm 2011 = 0.096
Nm 2010 = 0.129

Nm 2011 so vi nm 2010 sut hao ph ca ti sn so vi doanh thu thun tng 0.033 ln tng
ng vi tng 34.38%. Do nm 2011 tng ti sn gim 3.4% m doanh thu thun tng 30.85%.

2.2 Phn tch hiu qu qun l v s dng ti sn ngn hn

- S vng quay ca ti sn ngn hn(V)
=

Doanh thu thun

Ti sn ngn hn bnh qun

Ch tiu
Doanh thu thun
Ti sn ngn hn
Ti sn ngn hn bnh
qun
V

Nm 2009
Nm 2010
2.821.219.829.270
3.616.801.420.380
347.877.887.567
265.481.180.791

+/%
795.581.591.110
28,20
-82.396.706.776
-23,69

Ch tiu
Doanh thu thun
Ti sn ngn hn
Ti sn ngn hn bnh
qun
V

Nm 2010
Nm 2011
+/%
3.616.801.420.380
4.732.648.392.681 1.115.846.972.301
30,85
265.481.180.791
230.217.066.677
-35.264.114.114
-13,28

306679534179
11,79

247849123734
11,79

19,09

7,30

61,91

ngha: S vng quay ca ti sn ngn hn nm 2011 bng 19.09 vng cho bit:
+ Trong nm 2011 c bnh qun u t vo 1ng ti sn ngn hn s to ra 19.09 ng doanh
thu thun.
+ c c 19.09 ng doanh thu thun th cn u t 1 ng ti sn.
Nm 2011 so vi nm 2010 s vng quay ca ti sn ngn hn quay nhanh hn 7.3 vng tng
ng 61.91%. Do nm 2011 ti sn ngn hn gim 13.28% v doanh thu thun tng 30.85%. Nh
vy ti sn ngn hn quay nhanh hn v to ra doanh thu nhiu hn khi u t vo 1 dng ti sn
ngn hn.
- K lun chuyn ti sn ngn hn
=
S ngy trong k
S vng quay ca ti sn ngn hn
=

360
S vng quay ca ti sn ngn hn
Nm 2011=18.86

Nm 2010=30,53 ngy
Nm 2011 k lun chuyn ti sn ngn hn bng 18.86 ngy chm hn nm 2010 11.67
ngy do s vng quay ca ti sn ngn hn nm 2011 nhanh hn nm 2010 7.3vongf
tng ng 61.69%.
=

S vng quay ca hng tn kho

Gi vn hng bn
Hng tn ko bnh qun

Ch tiu
GVHB
Hng tn kho
Hng tn kho bnh qun
S vng quay hng tn
kho

Nm 2009
Nm 2010
2.658.098.188.270
3.469.540.156.193
174.856.909.492
83.324.158.476
129090533984

+/%
811.441.967.923
30,53
-91.532.751.016
-52,35

Ch tiu
GVHB
Hng tn kho
Hng tn kho bnh qun
S vng quay hng tn
kho

Nm 2010
Nm 2011
+/%
3.469.540.156.193
4.600.725.559.266 1.131.185.403.073
32,60
83.324.158.476
42.122.346.995
-41.201.811.481
-49,45
62723252736

26,88

26,88

73,35

46,47

172,91

ngha: s vng quay hng tn kho ca nm 2011 bng 73.35 vng cho bit hng tn kho quay
c 73.35 vng.
+ Trong nm 2011 c bnh qun u t 1 ng hng tn kho to ra 73.35 ng gi vn hng bn.
Nm 2011 so vi nm 2010 s vng quay hng tn kho quay nhanh hn 46.47 vng tng ng
172.91%. Do hng tn kho nm 2011 gim so vi nm 49.45% v gi vn hng bn li tng
nhanh hn 32.60%, tc tng ca gi vn hng bn tng nhanh nhng hng tn kho gim gn
na. Nhn thy s vng quay hng t kho l qu cao, quay vng cc nhanh. Nh vy khng tt
do lng d tr khng nhiu, nu nhu cu th trng tng t ngt th rt c khe nng b mt
khch hng v b i th csnhj tranh ginh th phn.
=

S ngy d tr hng tn kho

s ngy trong k
S vng quay hng tn kho

Nm 2011=4.91
Nm 2010=13.39
Trong nm 2011 s ngy d tr hng tn kho bng 4.91 ngy, t hn nm 2010 8.48 ngy.
Do s vng quay hng tn kho nm 2011 quay nhanh hn 172.91% so vi nm 2010.

S vng quay cc khon phi thu

=
Tng s tin hng bn chu(DTT)
Cc khon phi thu bnh qun

Ch tiu
Doanh thu thun
Cc khon phi thu
Cc khon phi thu bnh qun
S vng quay cc khon phi
thu

2009
2010
2.821.219.829.270 3.616.801.420.380
80.264.567.206
101.900.717.421
91082642314

+/%
795.581.591.110
28,20
21.636.150.215
26,96

Ch tiu
Doanh thu thun
Cc khon phi thu
Cc khon phi thu bnh qun
S vng quay cc khon phi
thu

2010
1011
+/%
3.616.801.420.380 4.732.648.392.681 1.115.846.972.301
30,85
101.900.717.421
95.207.785.259
-6.692.932.162
-6,57
98554251340

39,71

39,71

48,02

8,31

ngha:
S vng quay cc khon phi thu nm 2011 bng 48.02 vng cho bit:
+ Trong nm 2011 cc khon phi thu quay c 48.02 vng
+ Thi gian cc khon phi thu l 2 ln
Nm 2011 so vi nm 2010 s vng quay cc khon phi thu quay nhanh hn 8.31 vng
tng ng tng 20.93%. Do cc khon phi thu ngn hn nm 2011 gim 6.57% v doanh
thu thun tng 30.85% so vi nm 2010.
Nh vy, s vng quay cc khon phi thu ca cng ty ln, tc thu hi n ca cng ty
nhanh, kh nng chuyn i cc khon n phi thu sang tin mt cao, lung tin mt nhiu
hn v cng ty s ch ng hn.
-

Kz thu tin bnh qun (DOS)

=
S ngy trong kz
S vng quay cc khon phi thu
DOS(2011) = 7.5
DOS(2010) = 9.07

20,93

Kz thu tin bnh qun nm 2011 bng 7.5 ngy. Nm 2011 so vi nm 2010 kz thu tin bnh
qun t hn 1.57 ngy. Do s vng quay cc khon phi thu nm 2011 quay nhanh hn nm
2010 20.93%.
S vng lun chuyn cc khon phi tr
=
Tng s tin hng mua chu
S d bnh qun cc khon phi tr
=
GVHB +/- HTK
Cc khon phi tr bnh qun

Ch tiu
GVHB
HTK
N ngn hn

2009
2.658.098.188.270
174.856.909.492
118.877.802.559

2010
3.469.540.156.193
83.324.158.476
101.427.192.400

S vng lun chuyn

cc khon phi tr

Ch tiu
GVHB
HTK
N ngn hn

+/%
811.441.967.923
30,53
-91.532.751.016
-52,35
-17.450.610.159
-14,68

30,67

2010
3.469.540.156.193
83.324.158.476
101.427.192.400

S vng lun chuyn

cc khon phi tr

2011 +/%
4.600.725.559.266 1.131.185.403.073
32,60
42.122.346.995
-41.201.811.481
-49,45
85.709.554.775
-15.717.637.625
-15,50

30,67

48,73

18,06

58,90

ngha: S vng lun chuyn cc khon phi tr nm 2011 bng 48.73 vng cho bit:
+
+
Nm 2011 so vi nm 2010 s vng lun chuyn cc khon phi tr nhanh hn 18.06 vng
tng ng vi tng 58.90%. Do
-

Thi gian quay vng ca cc khon phi tr

=
Thi gian ca kz phn tch
S vng lun chuyn cc khon phi tr
Nm 2011 = 7.39 ngy
Nm 2010 = 11.74 ngy

Thi gian quay vng ca cc khon phi tr nm 2011 bng 7.39 ngy. So vi nm 2010 thi
gian quay vng chm hn 4.35 ngy, do s vng lun chuyn ca cc khon phi tr nm 2011 nhanh
hn 58.90%.

2.3 Phn tch hiu qu qun l v s dng ti sn di hn

- Sc sn xut ca ti sn di hn
=

Doanh thu thun

Tng ti sn di hn bnh qun

Ch tiu
DTT
Tng TSDH
Tng TSDH bnh qun
Sc sn xut ca
TSDH

2009
2010
2.821.219.829.270 3.616.801.420.380
122.704.224.197
198.845.719.870
160774972034

+/%
795.581.591.110
28,20
76.141.495.673
62,05

Ch tiu
DTT
Tng TSDH
Tng TSDH bnh qun
Sc sn xut ca
TSDH

2010
2011 +/%
3.616.801.420.380 4.732.648.392.681 1.115.846.972.301
30,85
198.845.719.870
218.338.162.087
19.492.442.217
9,80
208591940979

22,50

22,50

22,69

0,19

0,86

Trong nm 2011 sc sn xut ca TSDH bng 22.69 cho bit:

+ Trong nm 2011 c bnh qun u t 1 ng vo TSDH th to ra c 22.69 ng doanh thu thun.
+ c c 22.69 ng doanh thu thun th cng ty phi u t bnh qun 1 ng TSDH.
Nm 2011 so vi nm 2010 sc sn xut ca TSDH tng 0.19 ln tng ng vi 0.86%. Do tc tng
ca DTT ln hn tc tng ca TSDH (DTT tng 30.85% v TSDH tng 9.8%). Nh vy, nm 2011 to ra
c nhiu doanh thu hn so vi nm 2010.
-

Sc sn xut ca TSC
=
Doanh thu thun
Tng TSC bnh qun
Nm 2011 = 23.11
Nm 2010 = 22.79

Trong nm 2011 sc sn xut ca TSC bng 23.11 cho bit:

+ Trong nm 2011 c bnh qun u t 1 ng vo TSDH th to ra c 23.11 ng doanh thu thun.
+ c c 23.11 ng doanh thu thun th cng ty phi u t bnh qun 1 ng TSDH.

Trog nm 2011 sc sn xut ca TSC tng 1.4% do tc tng ca doanh thu ln hn tc tng ca
TSC(DTT tng 30.85% v TSC tng 10.4%)