Analýza zadluženosti MSA, a.s.

Abstract

The gist of baccalaureate report is the indebtedness. The report has five chapters. The first one is the introduction, where the purpose and characteristics of individual chapters are described. The second chapter specifies financial analysis and describes particular methods of technical analysis (horizontal, vertical and ratio analysis). The ratio analysis is further subdivided to areas of evaluation of the financial analysis: profitability, activity, liquidity, factors of capital market. More attention is paid to the indebtedness, which is the last part of the second chapter. The third chapter “The cost of capital and the capital structure” describes different kinds of the capital costs (cost of equity, cost of loan capital) including the calculation methods. The next subchapter describes the optimal capital structure, where MM models including graphs and calculation are shown. The last part of this chapter is the optimization of the capital structure, this part deals with the whole process of calculation of the optimal indebtedness. The fourth chapter is the practical part. Besides the company presentation it contains the vertical analysis of debit and ratio analysis of indebtedness. Both subchapters contain the graphical progression and commentary to the facts. The last part of this chapter is the calculation of optimal company indebtedness. The final chapter of baccalaureate work is the conclusion, where the results of performed analysis are summarized.