Ratioanalyse

Ratioanalyse, or ratio analysis, is a systematic method used to evaluate a company's financial performance by examining relationships between items on the financial statements. It combines measures of liquidity, solvency, profitability, and efficiency to support management, investors, and lenders in decision making.

Common ratios fall into several groups. Liquidity measures include the current ratio and the quick ratio, which assess short-term ability to meet obligations. Solvency measures such as debt-to-equity and interest coverage gauge long-term financial stability. Profitability measures include gross margin, operating margin, net margin, return on assets (ROA), and return on equity (ROE). Efficiency measures cover asset turnover, inventory turnover, and receivables turnover.

Calculation relies on data from the balance sheet and income statement, often supplemented by cash flow information. Ratios are typically computed for a specific period and analyzed over time. For context, analysts compare them with prior periods and with industry benchmarks or peer companies.

Interpretation focuses on trends, absolute levels, and deviations from benchmarks while considering the company’s business model, seasonality, and accounting policies. Ratioanalyse supports budgeting, performance evaluation, valuation, and credit decisions, but it should be used with professional judgment and qualitative insights.

Limitations include variations in accounting methods, one-off items, seasonality, and the risk of overreliance on ratios without context. Ratios are descriptive tools rather than predictors and may be less comparable across industries; they are most effective when combined with other analyses.