Construction of Financial Warning Model for the Listed Companies Based on Cash Flow Index

China's listed companies are facing a lot of fierce competitions and challenges which come from home and abroad, the main threat of the listed companies is the financial crisis. Because the cash flow index can reflect the true financial information, we started from the perspective of cash flow based on the analysis of its superiority and necessity, selected some financial ratios about its liquidity, solvency, profitability, development capacity and financial flexibility, analyzed the significance and relevance of these index, established the model. Then, according to the probability that was calculated by the model, we can judge whether the financial crisis occurs. Lastly, we used the date of the company to test the model and judge the accuracy and feasibility to the financial crisis. The results show that the financial warning model based on cash flow index can achieve more than 80% of the accuracy of the crisis prediction, the effect of the crisis prediction is better.