Major Financial Ratio Index:

1. Financial Structure (財務結構)

A. Total Debt Ratio (負債比率) : Total assets−Total equity ∗100 %
Total assets
B. Long-term debt ratio (長期負債比率):
Long−term Debt
∗100 %
total long−term financing (long−term debt+total equity )

C. Long-term Capital Ratio（長期資金佔資產比率）= total long−term financing assets ¿∗100 % =

total ¿
'
total long−term debt+ net owners euqity
assets ¿∗100 %= 〔（長期負債＋股東權益淨值） ÷
total ¿
固定資產淨額〕× 100%。

2. Ability of paying debt （償債能力）

A. Current Ratio (流動比率) : Current assets ∗100 %；營運資金比率（Working Capital
current liabilities
Ratio）
B. Quick Ratio (速動比率): Current assets−inventory ∗100 %
current liabilities

C. Cash Ratio (現金比率): Cash

∗100 %
current liabilities

D. Times Interest Earned Ratio (利息倍數比率): EBIT

interest

E. Cash Flow Ratio（現金流量比率）¿ Operating cash flows ∗100 %

Current Liabilities

F. (1). Degree of Financial Leverage (DFL,財務槓桿度)¿ EBIT

∗100 %
EBIT−interest paid
(2). Degree of Financial Leverage (DFL,財務槓桿度)
Total Assets Total debt +Total equity Total debt
¿ ∗100 %= ∗100 % = 1+ ∗100 %
Total Equity Total equity Total equity
= 1+ Net Debt Ratio (負債淨值比)

G. Cash Coverage Ratio (現金覆蓋比率): ¿ EBIT + Depreciation(non−cash expense) ∗100

Current Liabilities

3. Management Ability (管理能力)

A. Receivables Turnover, A/R Turnover（應收帳款周轉率）(次): Sales
Average Accounts receivable

B. Days’ Sales in Receivables （應收帳款收回天數）(日): 365 days

Account receivables turnover

C. Accounts Payable Turnover, A/P Turnover（應付帳款周轉率）(次): Sales

Accounts payable
1
 D. Inventory Turnover（存貨周轉率）(次): Cost of goods sold
Average Inventroy

E. Days’ Sales in Inventory, （平均售貨日數）(日): 365 days

inventory turnover

F. Fixed Assets Turnover（固定資產周轉率）(次): Sales assets ¿

Net ¿

G. Total Assets Turnover（總資產周轉率）: Sales

Total assets

4. Profitability （獲利能力）
A. Returns on Assets, ROA（資產報酬率）: Net Income ∗100 %
Total assets

B. Returns on Etquiy, ROE（股東權益報酬率）: Net Income ∗100 %

Total equity
Net income
∗sales
C. Du Pont Identity (ROE): sales
∗assets
assets
equity
NetIncome Sales TotalAssets
∗ ∗
ROE= Sales TotalAssets AverageShareholderEquity

ROE= profit margin* total asset turnover* equity multiplier

= ROA*equity multiplier

D. Profit Margin（純益率）: Net income ∗100 %

sales

E. Earnings per Share, EPS（每股盈餘）: Net income− preferred dividends

common s h ares outstanding

F. Price-Earnings Ratio ; PER ; P/E（本益比）: market price per share

EPS

G. Price-Book Value Ratio ; PBR ; P/B（股價淨值比）＝ market value per share (每股市價÷每
Book value per share
股淨值)。
TyearSales−T −1 Sales
∗100 %
H. Sales Growth Rate(銷售成長率): T −1 Sales

I. Gross Sales Margin (銷售毛利率):＝ Sales−cost of slaes ∗100 % ＝ Gross Income ∗100 %
sales Sales

J. Return On Investment (ROI, 投資報酬率):＝ end assets−beginning assets ∗100 %

beginning assets
2
5. Cash flow（現金流量）：

A. Fund Flow Adequacy Ratio（現金流量允當比率）

recent 5 years net Operating cash flows
¿ ：〔最近五年度營業活動淨
recent 5 years(Capital spending+ inventory inrease+ cash dividents)
現金流量÷最近五年度之（資本支出＋存貨增加額＋現金股利）〕× 100%。