Abstract Improving the efficiency of financing is an effective way to solve the financing difficulties of the current civil military integration enterprises,especially the private enterprises which involved in the production of military products. How to improve the efficiency of financing? Objective evaluation of the efficiency of civil military integration enterprises and analysis of its influencing factors,so as to formulate countermeasures,is an appropriate path to explore. This paper takes the listed companies of civil military integration in Sichuan as the research object,using DEA Malmquist index method,taking the total assets of the enterprise and other two parameters as input variables,the rate of return on net assets and other two parameters as output variables,then an empirical study of financing efficiency of listed companies of Sichuan civil military integration in 2014-2016 years is conducted from the two dimensions of static and dynamic. The empirical results show that the efficiency of civil military integration enterprises is low,the backwardness of science and technology is the main reason,and there is a big gap between the technology and management level of each enterprise. Therefore,this paper puts forward some policy suggestions to improve the efficiency of military and civilian integration enterprises,such as improving the level of enterprise technology and innovation ability,atc.