 debttorevenue ratio debttorevenue ratio 9 admin mon 10142019 1723 percentage of the level of debt incurred by an initiative project compared to the income generated by its research activity the indicator evaluates the capacity of an initiative project to pay back their debt through the profit generated by its research activity the indicator is standard easy to calculate and enables comparison with other initiatives additional quantitative debt  amount owed for funds borrowed income  revenue minus expenses initiative project financial report divide the total debt registered in the balance sheet of the initiative project by the operating income registered in the profit and loss statement that can be directly attributed to research result exploitation and multiple the result times 100 percentage with numerator and denominator output percentage annually annually estimating the direct operating income directly attributed to the exploitation of research findings might be difficult due to the complexity of allocating the operating expenses that are directly related to their obtention if the initiative project cannot estimate them it can use the overall operating income as proxy if its main activity is performing research no shabaninejad h mirsalehian m h mehralian g 2014 development of an integrated performance measurement pm model for pharmaceutical industry  iranian journal of pharmaceutical research ijpr   13  suppl 207 see table 4 available at  https wwwncbinlmnihgov pmc articles pmc3977072   process to calculate it considering the information provided in financial statements for instance in the burnet institute 2018 financial report divide total liabilities p 10 by results from operating activity p 9 times 100 the burnet institute 2018 financial report is available at  https wwwburneteduau system annualreport file 25 financialreport2018digitalpdf process to calculate it considering the information provided in financial statements for instance in the burnet institute 2018 financial report divide total liabilities p 10 by results from operating activity p 9 times 100 the burnet institute 2018 financial report is available at  https wwwburneteduau system annualreport file 25 financialreport2018digitalpdf financial stability 