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Financial Analysis
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Financial Analysis from 2012 to 2013 (Consolidated)
Financial Analysis from 2009 to 2011 (Consolidated) - ROC GAAP
Financial Analysis from 2012 to 2013 (Unconsolidated)
Financial Analysis from 2009 to 2011 (Unconsolidated) - ROC GAAP
Financial Analysis from 2012 to 2013 (Unconsolidated)
*Glossary
1.
Capital Structure Analysis
(1)
Debt Ratio = Total Liabilities / Total Assets
(2)
Long-term Fund to Property, Plant and Equipment Ratio = (Shareholders’ Equity + Noncurrent Liabilities) / Net Property, Plant and Equipment Assets
2.
Liquidity Analysis
(1)
Current Ratio = Current Assets / Current Liabilities
(2)
Quick Ratio = (Current Assets - Inventories - Prepaid Expenses) / Current Liabilities
(3)
Times Interest Earned = Earnings before Interest and Taxes / Interest Expenses
3.
Operating Performance Analysis
(1)
Average Collection Turnover = Net Sales / Average Trade Receivables
(2)
Days Sales Outstanding = 365 / Average Collection Turnover
(3)
Average Inventory Turnover = Cost of Sales / Average Inventory
(4)
Average Inventory Turnover Days = 365 / Average Inventory Turnover
(5)
Average Payment Turnover = Cost of Sales / Average Trade Payables
(6)
Property, Plant and Equipment Turnover = Net Sales / Net Property, Plant and Equipment
(7)
Total Assets Turnover = Net Sales / Average Total Assets
4.
Profitability Analysis
(1)
Return on Total Assets = (Net Income + Interest Expenses * (1 - Effective Tax Rate)) / Average Total Assets
(2)
) Return on Equity = Net Income / Average Shareholders’ Equity
(3)
Operating Income to Paid-in Capital Ratio= Operating Income / Paid-in Capital
(4)
Pre-tax Income to Paid-in Capital Ratio = Income before Tax / Paid-in Capital
(5)
Net Margin = Net Income / Net Sales
(6)
Earnings Per Share = (Net Income - Preferred Stock Dividend) /Weighted Average Number of Shares Outstanding
5.
Cash Flow
(1)
Cash Flow Ratio = Net Cash Provided by Operating Activities / Current Liabilities
(2)
Cash Flow Adequacy Ratio = Five-year Sum of Cash from Operations / Five-year Sum of Capital Expenditures, Inventory Additions, and Cash Dividend
(3)
Cash Flow Reinvestment Ratio = (Cash Provided by Operating Activities - Cash Dividends) / (Gross Property, Plant and Equipment + Long-term Investments + Working Capital)
6.
Leverage
(1)
Operating Leverage = (Net Sales - Variable Cost) / Income from Operations
(2)
Financial Leverage = Income from Operations / (Income from Operations - Interest Expenses)