Operating Performance Analysis of H Company Based on the REVA Model

Abstract

Against the backdrop of digital transformation, the limitations of traditional financial indicators in valuing asset-light enterprises have become increasingly apparent. Taking H Company as the research subject, this paper introduces the Revised Economic Value Added (REVA) model. Through a comparative analysis of the core concepts and application differences between REVA, traditional analysis methods, and EVA, combined with its financial data from 2020 to 2024, the study reveals the cyclical fluctuation characteristics and structural contradictions in its operational performance. The research finds that H Company's REVA value exhibited an amplitude of 220% over the five-year period, exposing issues such as the high sensitivity of traditional securities businesses to market cycles, an imbalanced capital structure, and low efficiency in R&D conversion. While possessing advantages in areas like institutional client services and risk control capabilities, the company demonstrates insufficient resilience in value creation. The study proposes recommendations including optimizing the capital structure, reconstructing R&D efficiency, and establishing a full-cycle value management system, aiming to provide a reference for similar enterprises undergoing a transformation from scale expansion to value growth in the context of the registration-based IPO system.