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105
Financial analysis for unconsolidated report – adopting ROC GAAP
Year (Note 1)
Item (Note 2)
Financial analysis in the past five years
2009 2010 2011 2012 2013
Financial
structure
(％)
Ratio of liabilities to
assets 24.35 36.78 37.10
N/A
Ratio of long-term
capital to fixed assets 4,052.73 2,483.98 2,919.09
Solvency
(％)
Current ratio (%) 187.28 190.71 182.90
Quick ratio (%) 154.53 150.40 146.56
Times interest earned 127.32 234.31 421.29
Operating
ability
Account receivable
turnover (times) 5.41 6.04 5.96
Days sales in accounts
receivable 67.46 60.43 61.24
Inventory turnover
(times) 9.26 15.99 15.28
Account payable
turnover (times) 7.20 6.94 6.59
Average days in sales 39.41 22.86 23.88
Fixed assets turnover
(times) 51.77 69.48 77.42
Total assets turnover
(times) 1.03 1.50 1.81
Profitability
Ratio of return on total
assets (%) 5.60 8.35 9.48
Ratio of return on
shareholders’ equity (%) 7.33 11.81 15.00
Ratio to
paid-in
capital
(%)
Operating
income 8.35 154.12 142.46
Income before
tax 30.19 301.57 262.97
Profit ratio (%) 5.37 5.56 5.22
Earnings per share ($)
(non-retroactive) 2.94 6.32 21.99
Cash flow
(％)
Cash flow ratio (%) 46.17 36.41 14.83
Cash flow adequacy
ratio (%) 51.68 85.46 122.16
Cash reinvestment ratio
(%) 9.01 10.87 0.42
Leverage
Degree of operating
leverage 2.60 1.54 1.61
Degree of financial
leverage 1.03 1.01 1.00