Conduct a financial analysis of your chosen company and complete the ratios listed below for 2017 AND 2016. Once you have completed the ratios you must interpret and comment on each of the individual ratios as well as the category overall, e.g. profitability. As you discuss the ratios and the categories ensure you not only comment on factors inside the firm by referring to other areas of the annual report but also external to the firm that may be impacting the ratio.

Question 1:

Liquidity Ratios

Ratio	2016	2017	Comment
Current Ratio	702,400,000 / 446,800,000 = 1.57	1,170,700,000/ 885,800,000 = 1.32
Quick Ratio	51,900,000+98,000,000 / 446,800,000 =0.34	72,800,000 + 196,600,000 / 885,800,000 = 0.30

Solvency Ratios:

Debt Ratio	587,600,000 / 992,300,000 = 0.59	1,598,800,000 / 2,452,300,000 = 0.65
Debt to Equity Ratio	587,600,000 / 404,700,000 = 1.45	1,598,800,000 / 853,500,000 = 1.87
Times Interest Earned Ratio

Profitability Ratios:

Profit Margin
Asset Turnover
Return on Total Assets
Return on Ordinary Shareholders Equity
Earnings per Ordinary Share (EPS)

How do I make comments on these ratios?