The liquidity of the business increased as we can see from the liquidity ratios . The current ratio increased significantly while the quick test ratio also increased but not by that much. Thus by looking at these ratios we know that more cash was available to BlackSea in 2010 than it was available to them in 2009.
The efficiency ratios suggest a mixed picture about the business. This is where the ratio analysis lacks. A comprehensive insight is needed into the situation of BlackSea. We know that the customer collection period increased which is a bad sign as far as liquidity is concerned. Now the debtors will take more time to pay. However they are still better than the industry’s companies as they have a customer collection period of 69 days. However the assets to sales ratio decreased. This means that the assets were better utilized in 2010 than they were utilized in 2009. There the efficiency of the asset utilization increased. The accounts payable to sales ratio also decreased slightly. This means that the suppliers are paid more quickly in relation to the sales volume. Therefore the efficiency ratios states that the business became more efficient. The increase in customer collection period can be due to the fact that now the company was making larger sums of sales therefore the customers took time to arrange the money. This shows the increased profitability of the business. However, we can only assume such things and we need strong comprehensive data to support our ratios.
The gearing ratio however depicts a clear picture about the company. It clearly states that in 2010 BlackSea got into a more risky position as the gearing increased. The borrowing of loan could be due to many reasons including the need for immediate cash resources.
The investment ratios also depict a mixed picture about the company. The share rice decreased while the dividend cover increased. This means that now the company was in a better position to pay dividends but the market price of the shares decreased.
企业的流动性增加，我们可以看到从流动性比率。目前的比例显著增加而快速测试比也有所增加，但不是很多。因此，通过看这些比我们知道更多的现金可黑海2010比是为他们提供2009。
效率比率显示一幅商业混合。这是比的分析缺乏。一个全面的洞察到黑海的形势需要。我们知道，客户收款期的增加是一个不好的迹象就流动性而言。现在，债务人将需要更多的时间来支付。但是他们仍然比该行业的公司更好的为他们有69天的客户收款期。然而资产销售率下降。这意味着资产更好地利用在2010比2009被利用。有效率的资产利用率增加。应付帐目销售率也略有下降。这意味着供应商关系的销量越来越快。因此，效率比美国企业更加有效。在客户收集时间的增加可能是由于现在公司正在大量销售因此客户花时间安排的钱。这说明企业盈利能力的提高。然而，我们只能假设，这样的事情，我们需要强大的综合数据来支持我们的比率。
资产负债比率，但是描绘了关于公司明确。它明确指出，在2010个黑海进入风险更高的位置作为负债增加。贷款的借款可能是由于多种原因包括即时现金资源的需要。
投资比例也描绘了一幅公司混合。水稻的份额下降而增加股息盖。这意味着，现在公司正处于更好的位置来支付股息，股票的市场价格下降
