Analysis On Profit Quality Of Time Publishing Media Co.Ltd.

Profitability,as a necessary foundation for the survival and development of an enterprise,is the cornerstone of social and economic development and has been widely concerned at home and abroad.On the topic of profitability,scholars at home and abroad have carried out related studies for a long time,and have already made rich research results,and applied it to all walks of life,making outstanding contributions to the development of the world economy.In today's economic globalization,the people pay more and more attention to the pursuit of spiritual and cultural needs.In order to meet the people's cultural needs and to promote the progress of our cultural industry,the government departments have issued a large number of relevant positive policies in recent years,and the cultural industry has achieved significant development.As an indispensable part of the cultural industry,cultural media enterprises have to expand their market demand.However,the arrival of the Internet era has caused the development of traditional paper media to be greatly impacted,and cultural media companies have sought transformation.Time Publishing Media Co.,Ltd.(hereinafter referred to as "Time Publishing" company)as a listed company of cultural media,if it wants to further enhance its own strength and achieve its profit purpose,it must evaluate its profit quality in a comprehensive and reasonable manner.Based on the theory of earnings quality,this paper makes a financial analysis of the earnings quality of time publishing company from five aspects: profitability,profitability,profitability structure,profitability stability and profitability sustainability.In order to systematically analyze the company's profit quality,taking three other representative enterprises in the industry as the comparison object,we selected financial data and 11 financial indicators for five consecutive years from 2013 to 2017.Through analysis,we found that Time Publishing Company's profitability is relativelypoor.The ability to collect cash is poor,the structure is unreasonable,the stability is general,and the sustainability ability is poor.In order to further verify the earnings quality of Time Publishing Company,it conducted a comprehensive evaluation of the above 11 financial indicators as comprehensive evaluation indicators,and used entropy method to assign weights to indicators.Finally,we get the comprehensive score and ranking of the profit quality of the listed companies of culture and media in China,and observe the ranking and find that the time publishing company is always in the bottom three positions in the industry.Based on the analysis of relevant financial indicators and ranking results,it is found that the reasons for the poor profit quality of the time publishing company are mainly changes in the macroeconomic policy environment,intensified competition in the industry,insufficient core competitiveness,rising cost and unreasonable business structure of the enterprise's own business operations.Finally,the paper puts forward the corresponding feasible suggestions from the macroeconomics level,the industry competition level and the enterprise's own level.