TRAPHACO’s Equity formed primarily by owner Equity and owner profit that retained for business investment.

     Equity coefficient of TRA has increased constantly, from 0.53 ( 2012) to 0.74 (2016) over last 5 years. It indicates that TRA is taking an active capital mobilization. In the last 5 year it has changed comprehensively in business strategy, TRA made a switch from wholesale to retail and this transition had taken effect. Due to the change in business strategy, TRA capital mobilization apparently to be easier. Owner equity of TRA increase perpetually during the last five years, EQ was 510971 in 2012, increased to 1013134 in 2016. TRA’s Capital increased and total capital increased by 408970 as well.

     Therefore the increase of owner equity coefficient due to the appreciation in owner equity and depreciation in coefficient debt, coefficient debt, moreover, has disposition to decrease.

     TRA debt diminished in last five years, its debt was 456375 in 2012 and diminished to 362691 in 2016. In five years, however, TRA debt has fluctuated, if only looking at the figures between 2012 and 2016 there seems to be a slight change. TRA debt has reduced considerably from 456375 down to 261287 (decrease of 195088 ) in a mere two years, from 2012 to 2014. At the end of first quarter, TRA’s revenue hit 461,7, an increase of 58 percent over the first quarter in 2014, net profit was 45,7, a twofold increase over the same period last year. That’s why TRA’s debt and debt coefficient decrease and continue to decrease.

     In 2014, 2015, financial statement showed company’s billions-budget almost empty. Debit balance at the end of 2015 was only 15 billion, and it was not significant to TRA. As of 2015, 2016 the company’s debt increased slightly from 261287 (2014) to 362691 (2016), this led to an increase in debt coefficient, but not substantial.

     Although TRA debt and debt coefficient have risen, owner equity and owner equity coefficient remained to a regular increase which means TRA has scaled up manufacturing facilities, made more products to meet market demand. Specifically, TRA contracted to nearly 8.000 new customers, enhanced retail customers to 18000 among 40000 pharmacies across the country.

     According to above analysis, it suggests that TRA is in robust finance. It is predicted that it would be a more increase because of getting partner’s credit and huge external capital and it’s own growing capital as well because of retail-scale expanding and proper business strategy.

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