如何阅读上市公司财务报表
财务报表是一个完整的报告体系，综合反映了公司的财务状况、经营成果和现金流量。它包括资产负债表、损益表、现金流量表及相关附注。
资产负债表是显示公司财务状况的会计报表，为股东和监管当局编制，显示公司在某一时点持有什么资产以及这些资产的融资方式。其中应当重点关注的项目包括：货币资金（表明公司拥有的现金流，关系到企业的生存）、预收账款（未来公司能够变现的实际利润）、应收账款和存货等项目。还应该关注根据该报表计算出来的流动比率、速动比率等反映短期偿债能力的指标，以及负债比率等反映长期偿债能力的指标。
损益表提供关于公司的收入、支出、利润和损失等信息。可以用来分析公司过去的经营状况和判断未来应当如何经营。运用这张表上的财务数据计算出表现公司营运能力的财务比率是至关重要的环节，其中盈利能力比率、营业利润率、毛利率和净资产收益率是比较值得关注的指标。
现金流量表是指一家公司在特定时间内的现金收支状况，它是评估公司偿债能力和经营发展的基础。其中应重点关注企业的融资结构、企业自有资金的比例和经营性现金流等。
财务报表附注及相关附表包括公司的性质、编制财务报表的会计政策和方法等信息，以及可能影响公司未来财务状况和业绩的有关信息。
净资产收益率（净利润／平均净资产）是衡量企业盈利能力和质量的最关键的指标，可以排除公司规模的影响，直接反映对股东的回报，较其他指标反映的情况真实。
市盈率（股价／每股收益）是估计普通股价值的最基本、最重要的指标之一。该指标在各个国家不同的行业有不同的标准，一般认为该比率保持在20－30之间是正常的，过小说明股价低，风险小，值得购买；过大则说明股价高，风险大，购买时应谨慎。但企业的盈利增长并不是静态的，所以也不能绝对化的一概而论。
现金流量表里主要包括三种现金流：第一，经营性现金流，反映企业日常经营活动，属于企业的“自我造血”功能；第二，投资性现金流，反映企业对固定资产和有价证券的买卖，以及对其他企业的并购，属于企业“向外输血”的功能；第三，融资性现金流反映企业发行股票和债券等渠道的资金筹集，属于“接受输血”的功能。其中，经营性现金流是现金流量表最值得关注的主体部分。
此外，比率分析法孤立使用意义并不是很大，与公司不同期间进行纵向比较，并与同行业其他公司进行横向比较，才是财务报表分析的正确方法。
How to read financial statements of listed companies
Financial statement is a complete report system, reflects the company's financial position, operating results and cash flow. It consists of a balance sheet, income statement, cash flow statement and related note.A balance sheet is to show the company financial accounting statements, shareholders and regulators for display at a given point in time, the company owned what assets and the assets financing way. Which should be focused on in the project include: Monetary Fund (indicating that the company has cash flow, related to the survival of enterprises ), AR ( the future of the company can change the actual profit ), accounts receivable and inventory project. Also should pay attention to according to the statements calculated by the current ratio, quick ratio, reflect the short-term solvency index, as well as the debt ratio and reflect the long term solvency index.Profit and loss statement on the company's income, expenses, profit and loss information. Can be used to analyze the company's past operating conditions and judge of the future should be how to operate. Using this form of financial data to calculate the performance of company operation ability of financial ratio is a very important link, wherein the profitability ratio, operating margin, gross and net assets yield is more worthy of attention index.Cash flow statement refers to a company at a given time in the cash balance of payments, it is the assessment of company solvency and operational development foundation. Which should focus on the financing structure of the enterprise, the enterprise owned capital ratio and operating cash flow.Notes to the financial statements and the related schedules including the nature of the company, the preparation of financial statements for the accounting policies and methods of such information, and may affect the company's future financial position and performance information.Rate of return on net assets ( net income / average net assets ) is a measure of the profitability of the business and the quality of the key indicators, can exclude the company scale effects, directly reflected returns to shareholders, than other index to reflect the true.P / E ratio (price / earnings per share ) is the estimated value of ordinary shares in the most basic, one of the most important indicators. The indicators in various countries different industries have different standards, generally considered the ratio was maintained in 2030 is normal, a novel that low price, small risk, worth buying; too large that stock prices high, the risk is big, the purchase should be cautious when. But the enterprise profit growth is not static, so it cannot change absolutely lump together.Cash flow statement consists mainly of three kinds: first, cash flow operating cash flow, reflect the day-to-day business activities of enterprises, enterprises belonging to the "ego hematopoiesis"; second, investment cash flow, reflect enterprise fixed assets and securities trading, as well as other enterprises mergers and acquisitions, which belongs to the enterprise" outward transfusion ." function; third, financial cash flow reflects the enterprise issuing stock and bonds and other channels to raise money, belong to" blood transfusion " function. Among them, operating cash flow cash flow statement of the most noteworthy part.In addition, ratio analysis of isolated using the meaning is not very great, with companies in different period were the longitudinal comparison, and with other companies in the same industry undertakes transverse quite, it is the right way of financial statement analysis.