Hodnotenie rizika bankrotu podniku

Abstract

The thesis is focused on assessing the risk of bankruptcy of a company. Its objective is to evaluate the bankruptcy risk of ZETOR TRACTORS a.s. through the analysis of financial statements, selected financial ratios, and the application of chosen bankruptcy prediction models over the period from 2014 to 2023. The structure of the thesis is divided into five chapters. The introduction defines the importance of financial analysis in identifying threats of corporate insolvency. The second chapter presents the theoretical background of financial analysis, describes the structure of financial statements, and explains selected financial ratios and bankruptcy prediction models. The third chapter is dedicated to the practical application of these methods to the specific data of ZETOR TRACTORS a.s., including trend analysis, structural analysis, and the calculation of profitability, liquidity, solvency, and activity ratios. The main methods used for bankruptcy prediction were the Altman model, the Zmijewski model, and the Ohlson model. The results of the analysis show that the company demonstrated relative stability in the first half of the observed period; however, since 2018, its financial difficulties have deepened. The company repeatedly reported losses (with the most

significant in 2023) and faced an unfavourable development in profitability. Among the applied bankruptcy models, the Ohlson model indicated a higher probability of bankruptcy in recent years. The chapter evaluating the results briefly summarizes and interprets the key findings arising from the analyses performed. The conclusion of the thesis provides a comprehensive summary of the individual chapters, supplemented by the results of a SWOT analysis and recommendations for further development and improvement of the company’s performance.