Indicator type | sign | Indicator name | Calculation formula | |
Financial indicator | Solvency indicator | X1 | Current ratio | Current assets/current liabilities |
X2 | Quick ratio | (current assets − inventory)/current liabilities | ||
X3 | Cash ratio | (cash + short-term investment)/current liabilities | ||
X4 | Assets and liabilities | (total liabilities/total assets) | ||
X5 | Property ratio | (total liabilities/owner’s equity) | ||
X6 | Interest multiplier | EBIT/interest expense | ||
Operational capability indicator | X7 | Accounts receivable turnover | Net sales revenue/average accounts receivable balance | |
X8 | Inventory turnover | Product cost of sales/average inventory balance | ||
X9 | Current asset turnover | Net sales income/average balance of current assets | ||
X10 | Fixed asset turnover | Net sales income/net fixed assets | ||
X11 | Total asset turnover | Net sales income/average total assets | ||
Profitability indicator | X12 | Operating gross profit margin | (operating income − operating costs)/operating income | |
X13 | Net profit margin | Net profit/sales income | ||
X14 | Total asset profit margin | Total profit/average amount of assets | ||
X15 | Roe | Net profit/average net assets | ||
X16 | Operating profit margin | Operating profit/operating income | ||
Development capacity indicator | X17 | Total asset growth rate | Total asset growth this year/total assets at the beginning of the year | |
X18 | ROE growth rate | (Return on net assets in the current period − return on net assets in the previous period)/Return on net assets in the previous period | ||
X19 | Net profit growth rate | (net profit for the period − net profit for the previous period)/net profit for the previous period | ||
Cash flow indicator | X20 | Cash flow ratio | Net cash flow from operating activities/current liabilities | |
X21 | Cash due debt ratio | Net cash flow from operating activities/debts due in the current period | ||
Financial structure indicator | X22 | Current debt ratio | Current liabilities/total assets | |
X23 | Fixed asset ratio | Fixed assets/total assets | ||
X24 | Equity to debt ratio | Total shareholders’ equity/total liabilities | ||
Non-financial indicator |
| X25 | Industry position | Market share, influence level and technology leadership |
X26 | Prospects for the industry | State support, degree of technological development, stage of industry development, etc. | ||
X27 | Business management level | Business decision-making ability, management system, financial rules and regulations | ||
X28 | Business owner’s own quality | Manager’s management knowledge and management experience, education level, etc. | ||
X29 | Corporate asset size | Measured by total assets |