2018 2019

Liquidity Ratios
Current ratio 1.12 1.15
Quick ratio 1.06 0.26
Cash ratio 0.6 0.15

Solvency Ratios
Debt ratio
Debt to equity ratio
Debt to capital ratio
Times interest earned ratio
Fixed charge coverage ratio
Equity multiplier

Profitability Ratio
net profit margin
gross profit margin
operating profit margin
return on assets
return on capital employed
return on equity
earnings per share

Activity ratios
inventory turnover ratio
days sales in inventory
receivables turnover ratio
days sales outstanding
payables turnover ratio
days payable outstanding
fixed asset turnover ratio
working capital turnover ratio
2020

1.12
0.36
0.05
 2018
ASSETS
Current Assets
26,201,320,940
Cash & Cash Equivalent
Investment in Time Deposits 1,000,000,000.00
Premium Receivables - net 20,082,541,739.00
Other Receivable - IRM 1,429,992,577.00
Other Current Assets
48,713,855,256.00
Total Current Assets 48,713,855,256.00

Non-Current Assets
124,792,611,052
Investment Securities at Amortized Cost
Property & Equipment - net 2,321,048,293.00
Intangible Assets - net 297,797,696
Other Assets - net
456,866,732.00
Total Non - Current Assets 127,868,323,773.00
TOTAL ASSETS 176,582,179,029.00
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Benefit Claims Payables 39,786,819,724.00
Other Payables 3,788,754,474.00
Total Current Liabilities 43,575,574,198
Non- Current Liabilities
Other Deferred Credits 1,095,546,801.00
Leave Benefits Payable 576,277,397.00
Insurance Liability for Lifetime Members
26,034,923,966.00
Total Non-Current Liabilities 27,706,748,164.00
Total Liabilities 71,282,322,362.00
Equity
Members' Equity 105,299,856,667.00
Total Members' Equity 105,299,856,667.00
TOTAL LIABILITIES AND EQUITY 176,582,179,029.00

TOTAL PREMIUM CONTRIBUTIONS 134,088,832,845

Less: Benefit Claims Expenses 112,956,462,871
GROSS MARGIN FROM OPERATIONS 21,132,369,974
Less: Operating Expenses
Personnel Services 4,356,558,244
Other Operating Expenses 2,493,576,575
Total Operating Expenses 6,850,134,819
NET OPERATING INCOME (LOSS) 14,282,235,155
Add: Interest and Other Income 6,742,430,076
NET INCOME 21,024,665,231
 VERTICAL ANALYSIS
2019 2020
2018 2019

11,834,620,202.14 5,510,438,610.50 14.84% 5.35%

70,086,086,078.32 75,866,726,920.21 0.57% 31.67%
9,178,195,991.35 34,065,752,092.60 11.37% 4.15%
1,878,847,834.41 7,198,939,716.60 0.81% 0.85%
92,977,750,106.22 1,820,662,828.99 27.59% 42.02%
92,977,750,106 124,462,520,168.90 27.59% 42.02%

124,382,976,136.84 137,582,691,884.91 70.67% 56.21%

3,402,101,399.27 3,028,275,321.61 1.31% 1.54%
267,770,907.08 225,377,799.61 0.17% 0.12%
264,180,316.00 258,992,784.13 0.26% 0.12%
128,317,028,759.19 141,095,337,790.26 72.41% 57.98%
221,294,778,865.41 265,557,857,959.16 100.00% 100.00%

75,566,261,516.92 107,456,476,705.14 22.53% 34.15%

5,192,279,052.92 3,965,718,442.21 2.15% 2.35%
80,758,540,569.84 111 ,422,195,147.30 24.68% 36.49%

1,123,783,051.06 8,660,933,759.94 0.62% 0.51%

849,149,212.04 844,986,390.91 0.33% 0.38%
28,605,281,694.00 28,605,281,694.00 14.74% 12.93%
30,578,213,957.10 38,111,201,844.85 15.69% 13.82%
111,336,754,526.94 149,533,396,992.20 40.37% 50.31%

109,958,024,338.47 116,024,460,966.96 59.63% 49.69%

109,958,024,338.47 116,024,460,966.96 59.63% 49.69%
221,294,778,865.41 265,557,857,959.16 100.00% 100.00%

108,526,950,835.75 112,516,131,975.36 100.00% 100.00%

84,773,473,893.40 109,930,815,145.26 84.24% 78.11%
23,753,476,942.35 2,585,316,830.10 16.00% 21.89%
 2,383,900,771.47 2,616,617,838.27 2.20%
1,647,485,555.68 1,448,672,942.81 1.86% 1.52%
4,031,386,327.15 4,065,290,781.08 5.11% 3.71%
19,722,090,615.20 -1,479,973,950.98 10.65% 18.17%
5,683,655,610.13 6,770,262,698.86 5.03% 5.24%
25,405,746,225.33 5,290,288,747.88 15.68% 23.41%
AL ANALYSIS HORIZONTAL ANALYSIS
Increase (Decrease) Increase (Decrease)
2020
2018-2019 2019-2020
Liquidity Ratios
2.08% -121.40% -114.77% Current ratio
28.57% 98.57% 7.62% Quick ratio
12.83% -118.81% 73.06% Cash ratio
2.71% 23.89% 73.90%
46.87% 47.61% -5006.81% Solvency Ratios
46.87% 47.61% 25.30% Debt ratio
Debt to equity ratio
Equity Multiplier
51.81% -0.33% 9.59%
1.14% 31.78% -12.34%
0.08% -11.21% -18.81%
0.10% -72.94% -2.00%
53.13% 0.35% 9.06% Profitability Ratio
100.00% 20.20% 16.67% net profit margin
gross profit margin
operating profit margin
return on assets
40.46% 89.93% 29.68%
1.49% 27.03% -30.93% return on equity
42.00% 46.04% 28.00%

3.26% 2.51% 87.02%

0.32% 32.13% -0.49%
10.77% 8.99% 0.00%
14.35% 9.39% 19.77%
56.31% 35.98% 25.54%

43.69% 4.24% 5.23%

43.69% 4.24% 5.23%
100.00% 20.20% 16.67%

100.00% -23.55% 3.55%

97.70% -33.25% 22.88%
2.30% 11.03% -818.78%
 2.33% -82.75% 8.89%
1.29% -51.36% -13.72%
3.61% -69.92% 0.83%
-1.32% 27.58% 1432.60%
6.02% -18.63% 16.05%
4.70% 17.24% -380.23%
2018 2019 2020

1.12 1.15 1.12

1.06 0.26 0.36
0.6 0.15 0.05

0.40 0.50 0.56

0.68 1.01 1.29
1.68 2.01 2.29

0.15 0.23 0.05

0.16 0.22 0.02
0.11 0.18 -0.01
0.12 0.11 0.02

0.20 0.23 0.05