➤ Impact:
Shows the company’s profitability over a given period.

Shows whether the customer is making or losing money, and where.

➤ To watch:
Sales (evolution, concentration by customer)

Cost of sales / gross margin

Net income (profit or loss)

Fixed and variable costs

📊 2. Balance sheet
➤ Impact:
Gives a picture of financial health at an instant T.

Allows assessment of ability to meet obligations (debts, payments).

➤ To watch:
Equity (financial strength)

Debt level (debt/equity ratio)

Current assets vs. current liabilities (liquidity)

💵 3. Cash flow statement
➤ Impact:
Highlights the company’s ability to generate real cash.

Very useful for judging short- and medium-term viability.

➤ To watch:
Operating cash flow (cash generated by operations)

Investment flows (asset purchases, investments)

Financing flows (loans, repayments, dividends)

✅ Bonus: Key financial indicators derived from financial statements
Net margin = Net income / Sales

Debt-to-equity ratio = Total debt / Shareholders’ equity

General liquidity = Current assets / Current liabilities

EBITDA: Operating profitability excluding depreciation, amortization and financial expenses