This report presents a comprehensive financial analysis of A2 Milk Company and Bega Cheese Company, focusing on their performance and investment potential. Section 1 begins with an executive summary, followed by an introduction to both companies, including their business models, products, and market positions. The core of the analysis involves detailed ratio analysis, including current ratio, quick ratio, cash flow operating ratio, gross profit, net profit, return on assets, return on equity, account receivable turnover, inventory turnover, debt to equity ratio, and debt to assets, for both companies. The report compares the two companies based on these ratios, highlighting their strengths and weaknesses. The assignment brief also includes a comparison with competitors, offering insights into their relative market positions. Appendices provide supporting financial data. The analysis helps to understand the liquidity, profitability, and solvency of the companies, providing a basis for informed investment decisions. Section 2 includes answers to specific questions related to investment and portfolio management principles.