Financial Ratio Analysis of the Textile and Apparel Industries
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This paper is to focus the financial ratio analysis of the Korean textile and apparel companies due to fast changing domestic industry. Financial ratios are playing a pivotal role in management analysis to assess the present conditions to predict the future. Subjects are belonging to textile and apparel manufacturers based on Firm Classification Standard while registered as securities listed-firms or Kosdaq-listed firms under the Electronic Notification System of Korean Banking Supervisory Authority. 41 companies' data have been analyzed including 17 apparel companies and 24 textile companies. 14 representative financial ratios are analyzed. In this paper, financial ratios can be classified into four categories as follows: stability ratios, profitability ratios, growth ratios and activity ratios. The independent t-test was performed using SPSS 18 for a 10 year simple arithmetic average. The following conclusion has reached regarding aspects of management conditions and performances. When compared the ratios indicating stability, textile and apparel companies did not show much difference in debt ratio and the ratio of earning to interests. However, when compared the profitability ratios measuring the ability to produce incomes, apparel companies showed higher ratios than textile companies. Thus it is important to recognize financial characteristics of each industry.
Abstract
This paper is to focus the financial ratio analysis of the Korean textile and apparel companies due to fast changing domestic industry. Financial ratios are playing a pivotal role in management analysis to assess the present conditions to predict the future. Subjects are belonging to textile and apparel manufacturers based on Firm Classification Standard while registered as securities listed-firms or Kosdaq-listed firms under the Electronic Notification System of Korean Banking Supervisory Authority. 41 companies' data have been analyzed including 17 apparel companies and 24 textile companies. 14 representative financial ratios are analyzed. In this paper, financial ratios can be classified into four categories as follows: stability ratios, profitability ratios, growth ratios and activity ratios. The independent t-test was performed using SPSS 18 for a 10 year simple arithmetic average. The following conclusion has reached regarding aspects of management conditions and performances. When compared the ratios indicating stability, textile and apparel companies did not show much difference in debt ratio and the ratio of earning to interests. However, when compared the profitability ratios measuring the ability to produce incomes, apparel companies showed higher ratios than textile companies. Thus it is important to recognize financial characteristics of each industry.
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