Abstract:Due to the diversity of business model research perspectives, the evaluation ideas of business model innovation are quite different. Using the financial perspective can effectively integrate the business model ideas of values, profits and transactions, so as to build evaluation index system. According to the data of JF enterprise from 2007 to 2018, entropy weight catastrophe progression method is used to evaluate the change of its business model innovation. The results show that the evaluation results are highly matched with the existing research conclusions, which verifies the scientificity and feasibility of the evaluation idea. Through the analysis of the evaluation results, the business model innovation of the target enterprise can be divided into three development stages and two strategic transformation stages, each of which has its own unique business model. ; The development of business model has the characteristics of "overall stability, stage fluctuation and innovation orientation", it also reflects the instability of business model elements.