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Table 20-3
Pharmaceutical and medicine manufacturing — Selected ratios

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Selected ratios
  2004  2005 2006 2007  2008
Selected ratios  
Debt to equity (ratio) 0.417 0.728 0.706 0.686 0.454
Profit margin (percent) 14.3 12.7 11.2 7.1 8.6
Return on equity (percent) 17.9 15.0 11.4 16.4 7.8
Return on capital employed (percent) 13.7 10.0 7.9 11.5 6.5
Working capital (ratio) 1.150 0.927 1.299 1.761 1.538
Quick ratio (ratio) 0.594 0.459 0.681 1.004 0.958
Inventory turnover (ratio) 4.678 4.579 4.309 3.361 4.215
Receivables turnover (ratio) 6.280 6.199 5.243 4.999 4.801
Taxes to positive adjusted profit (percent) 24.5 23.3 24.9 18.0 22.4
Income taxes to taxable income (percent) 27.8 23.3 20.5 26.8 24.6
        percentage change
Selected items  
Operating revenue, year-over-year change 8.3 -1.4 5.6 -14.3 4.1
Operating expenses, year-over-year change 8.1 0.4 7.4 -10.3 2.4
Operating profit, year-over-year change 9.4 -12.0 -6.9 -46.1 26.7
Taxable income (tax base), year-over-year change 15.1 -37.4 -2.5 34.8 -14.1
Taxes, year-over-year change 14.3 -47.3 -14.0 74.6 -21.0