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Cango Financial Statement

506 Words3 Pages

The financial analysis will help to give recommendations regarding the current financial condition of CanGo. The best way to measure the performance of a company such as Cango is by performing a financial analysis. By looking at CanGo’s current financial state it will help to better the company and ensure the future success of CanGo. Currently CanGo is doing fairly good financially in that they have managed to keep their current ratio at a reasonable number of 5.39%. With that number as it stands, if CanGo had to they could be capable of paying off their debts and would be able to continue to do business. The current ratio is the best way to assess the ability of a company’s capabilities to pay off its short term liabilities with short term assets. …show more content…

The profitability is calculated by looking at the Return on Assets and the Return on Sales. Currently CanGo’s Profit margin is 10.7 cents per dollar, which in comparison of Apple at 21.54 cents per dollar it is rather low. (Apple Profit Margin, 2009) With CanGo’s Return on Assets being 2.32% it is a good indicator that CanGo is asset heavy. The Return on Asset is the measure of a company’s earnings in relation to what assets the company had at its disposal. CanGo has a Return on Equity of 3.9% on their investment which further displays that CanGo is unable to utilize the investor’s money to generate a profit. The company is in a position in which they need to evaluate the current return, and to make a better use of the company’s resources to be able to provide better returns to the stakeholders of

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