This report provides a detailed financial analysis of Blackmores, a natural health company, based on its financial statements. The analysis covers the company's background, business operations, and economic outlook. The core of the report focuses on a comprehensive ratio analysis, including profitability, efficiency, liquidity, and gearing ratios, comparing the company's performance over two financial years. The analysis delves into key financial metrics such as return on assets, return on equity, profit margins, and turnover ratios. The report evaluates Blackmores' financial health, identifies strengths and weaknesses, and offers recommendations based on the findings. The executive summary highlights the company's financial performance, including a rise in NPAT and dividends, and the challenges posed by its debt levels. The report concludes with an overall assessment of the company's financial position and provides insights for potential investors. The report is based on the FINA600 Financial Management course and serves as a case study report.