營建業為民生工業息息相關的行業之一，但近年來面臨諸多不利於生存的情況，導致營運困難，甚至發生財務危機。因此如何在營建公司財務報表中，充分掌握財務資訊，降低風險，也愈趨重要。
雖然財務報表隱含了解釋公司營運能力的因子，若分析時採用過多財務因子，徒增觀察與判斷之困擾。若能篩選出關鍵財務因子進行分析，即能事半功倍地評估營建業之經營狀態優劣。
本研究首先對營建業財務報表進行深入探討，以了解營建業會計科目之意義與績效分析上之功用，接著分為二部分進行關鍵財務因子之篩選，第一部分以個案探討的方式，彙整出營建業經營績效良莠之原因與其所對應之關鍵財務因子(Ⅰ)；第二部分為藉由文獻彙整專家意見之財務因子，經主成份分析篩選出營建業關鍵財務因子(Ⅱ)，並與關鍵財務因子(Ⅰ）做比較分析。
研究結果發現建設公司關鍵財務因子（Ⅰ）與（Ⅱ）中皆相同之財務因子有：稅後損益、營業淨利、本期利息支出、加權已發行股數，共四個因子；不同的有：資產總額、銷貨淨額、出租房地、流動資產、待售房地、股東權益淨額、銷貨淨額減變動營業成本費用、應收帳款、營業活動淨現金流量，共九個因子。
營造公司關鍵財務因子(Ⅰ)與(Ⅱ)中皆相同之財務因子有：稅後損益、營業淨利、銷貨淨額、應收帳款，共四個因子；不同的有：資產總額、本期利息支出、加權已發行股數、流動資產、營業毛利、股東權益淨額、預收工程款，共七個因子。
經比較分析後，決定出營建業關鍵財務因子，藉此能快速且正確地評估營建業之經營狀況。最後決定出建設公司之關鍵財務因子為：加權已發行股數、稅後損益、本期利息支出、營業淨利、出租房地、待售房地、資產總額、銷貨淨額，共八個因子；營造公司關鍵財務因子為：加權已發行股數、稅後損益、應收帳款、營業淨利、資產總額、銷貨淨額、預收工程款，共七個因子。

The construction industry is one of the industries closely related to our livelihood. Due to the various adverse effects in recent years, many land developers and construction firms have suffered from operational difficulties and even financial crises. Therefore, how construction firms can sufficiently grasp the financial information from financial statements to reduce risks has become more and more important.
Although financial statements connote factors that explain a firm’s operational capabilities, if excessive factors are used in the analysis, troubles with observation and judgment may be caused. If only key financial factors are selected for analysis, business management of land developers or construction firms can be effectively and efficiently evaluated.
This study first probed into the financial statements in the construction industry to find out each accounting title’s meaning and function in performance analysis. Later, key financial factors were selected through a two-stage process. In the first stage, the case study method was adopted to induce the factors affecting the business performance of the construction industry and the corresponding key financial factors (I). In the second stage, financial factors collected from literature review and expert opinions were screened through principal component analysis (II) and compared with the key financial factors (I).
The results revealed that for land developers, a total of four financial factors were listed in both groups (I) and (II). They were after-tax profit or loss, operating income, interest expenses, and weighted issued shares. Besides, a total of nine factors were only listed in only either group. They are total assets, net sales, land and house for lease, current assets, land and house held for sale, net shareholder equity, net sales minus variable operating costs, receivable, and net cash flow generated from operating activities.
For construction firms, four factors were listed in both groups (I) and (II). They were after-tax profit or loss, operating income, net sales, and receivable. Besides, seven factors were listed in only either group. They were total asset, interest expenses, weighted issued shares, current assets, gross profit, net shareholder equity, and advance construction receipts.
Through a comparative analysis, the key financial factors for the construction industry were determined. These key financial factors could be used to quickly and correctly evaluate the management of the construction industry. Finally, this study concluded that the key financial factors for land developers included 8 items, namely weighted issued shares, after-tax profit or loss, interest expenses, operating income, land and house for lease, land and house held for sale, total assets, and net sales; for construction firms, the key financial factors also included 7 items, namely weighted issued shares, after-tax profit or loss, receivable, operating income, total asset, net sales, and advance construction receipts.

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