Financial Ratio Analysis
12.31.2009
12.31.2008
12.31.2007
Current ratio
1.54
0.95
0.53
Quick ratio
0.99
0.67
0.37
Asset-liability ratio
0.24
0.27
0.42
The multiple of interest safeguard
14.41
8.59
6
Accounts receivable turnover
20.05
48.66
45.07
Inventory turnover
11.61
22.38
18.12
Total asset turnover
1.41
1.09
0.89
Return on assets (%)
0.14
0.16
0.12
Sales gross profit margin
0.21
0.22
0.24
Sales net interest rates
0.12
0.14
0.13
Return on equity
0.18
0.21
0.20
Current ratio:
2007=22766887.72/42703919.04=0.53
2008=25916405.69/27223982.95=0.95
2009=1.54
Quick ratio: 2007=(22766887.72-6845721.34)/42703919.04=0.37 2008=(25916405.69-7714542.50)/27223982.95=0.67 2009=0.994
(Data From www.baidu.com)
2008 compare with2009
%
2009compare with 2008
%
Current assets
383378047.26
9.62
293415176.38
6.72
Fixed assets
-73984612.87
-5.83
659535120.82
55.22
Total assets
635381749.64
8.00
773248957.59
9.02 liabilities 632858797.28
13.74
311238842.83
5.94
Shareholders' equity
2522952.36
0.08
462010114.76
13.88
From www.baiduresouce.com and www.wenku.com
(1) liquidity ratio
The company's current ratio of 1.12 07, 08 1.04, 09 is 1.12, is relatively stable, relatively is 08 slightly reduced.1 yuan of about 1.12 yuan assets as a guarantee of debt, that enterprise's short-term debt paying ability is relatively stable.
(2) the quick ratio
The company's quick ratio is 0.89, 07, 08 0.81, 09 is 0.86, relatively speaking, there is no big fluctuations, is only slightly declining.Each $1 of current liabilities is only 0.86 yuan of assets as a guarantee, it is absolutely not enough, this indicates that the enterprise's short-term debt paying ability is weak.
(3) cash ratio
The company's cash ratio is 0.35, 07, 08 0.33, 09 is 0.38, can be seen from these data, the company's cash pay ability is stronger, and a rising trend year by year, but still low, the relative abundance of illustrates one yuan current liabilities is 0.38 yuan cash assets as a repayment guarantee, the short-term solvency can still.
(3) capital structure analysis
(1) the asset-liability ratio
The rate of assets and liabilities of the business 7 years is 58.92%, 08 09 is 61.14%). 59.42%.Can be seen from these data, the rate of assets and liabilities of the company showed a trend of rising year by year, but is steady in the fall, suggests that the enterprises began to adjust its capital structure, in order to reduce the debt of the enterprise risk, the higher asset-liability ratio, explain