Letter To Shareholders - Mitac

6.2. Financial analysis in most recent five years
Analysis
Financial
structure
(%)
Solvency
(%)
Operational
capabilities
(Note 2)
Profitability
Years
Most recent five years financial analysis
2010/03/31
(Reviewed by
2005 2006 2007 2008 2009 CPA)
(Note 1)
Debt ratio 49.49 52.04 45.47 37.90 39.93 37.92
Share of long-term funds in
fixed assets 1,155.39 1,474.36 1,583.71 1,427.81 1,857.00 1,880.79
Current ratio 156.13 149.73 136.93 130.44 128.98 133.07
Quick ratio 118.15 105.93 107.13 91.95 93.23 93.72
Times interest earned ratio 20.45 31.18 33.11 5.88 9.46 5.42
A/R turnover (times) 5.87 5.49 4.86 4.17 4.47 3.90
A/R turnover days 62 67 75 87 82 94
Inventory turnover (times) 11.52 8.89 7.79 7.14 6.91 5.99
A/P turnover (times) 8.51 6.64 5.48 5.21 5.21 4.63
Inventory turnover days 32 41 47 51 53 61
Fixed assets turnover
(times) 30.17 35.81 36.80 27.41 29.17 28.52
Total assets turnover
(times) 1.78 1.61 1.37 1.08 1.13 0.98
Return on assets (%) 12.48 10.80 9.70 0.98 0.63 0.06
Return on shareholders
equity (%) 24.25 21.30 18.32 1.41 0.92 0.08
To paid-in 32.17 38.74 31.41 (3.83) (0.22) (0.70) (1.76)
capital (%) 47.87 47.91 44.57 4.14 2.45 0.18 (1.38)
Net income ratio (%) 6.65 6.50 6.88 0.76 0.50 0.20
4.53 4.39 4.07 0.31 0.19 0.02 (0.14)
Simple EPS
Post-
Not yet Not yet
(NT$)
retrospection 3.59 3.80 3.86 0.31 distributed distributed
Cash flow ratio (%) 21.79 18.15 19.96 9.77 5.59 2.64
Cash flow Cash flow adequacy ratio (%) 151.46 79.63 122.78 126.67 135.10 124.61
Cash reinvestment ratio (%) 9.60 8.70 10.11 - 2.37 1.42
Leverage
Operating leverage 1.56 1.39 1.29 - - -
Financial leverage 1.08 1.04 1.05 - - -
Analysis of changes in financial ratio in 2008and 2009(changes less than 20% are exempted):
1. Due to the economic recession in 2008, all consumer electronics sales are affected , thus the decreased profits
affected Times interest earned ratio, fixed assets turnover (times), total asset turnover (times), and related ratio
of profitability.
2. Because the operating activity net cash flow was decreased in 2008, the cash flow ratio and cash reinvestment
ratio were decreased.
3. The decrease of operating income caused the operating leverage and financial leverage declined.
Note 1: To the end of quarter prior to the publication date of this annual report.
Note 2: For convenience of marking comparisons, the operational capability for the first quarter of 2010 has been
converted to a whole year figure.
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