This report provides a comprehensive financial analysis of A2 Milk Company Pty Ltd and Bellamy’s Australia Ltd, both operating in the Australian dairy and food and beverage industries, respectively. The analysis includes an overview of the industry and the companies, examining their strategies, market positions, and financial performance. The report delves into key financial aspects such as cash, receivables, inventory, property, plant, and equipment (PPE), current and non-current liabilities, and shareholder's equity. It incorporates ratio analysis, including current ratio, quick ratio, average daily sales, inventory turnover, debt ratio, times interest earned ratio, and return on equity, to assess the companies' liquidity, efficiency, solvency, and profitability. The report also highlights the auditor's letters and statements of cash flows, culminating in an overall analysis of the financial health of both companies, drawing conclusions about their strengths, weaknesses, and potential for future growth. The study is based on the financial reports for the years 2017 and 2018, offering a comparative perspective on their financial standing and operational performance.