This report provides information obtained through ratio analysis, regarding the profitability, liquidity and financial stability of Outdoor Equipment Ltd for the years 1993-1995. This report will pay particular attention to the earning power, liquidity and credit management, inventory management and debt management, and will highlight major strengths and weaknesses while offering some explanation for observed changes. The report will comment on the prospects of the company and make recommendations that would improve Outdoor Equipment’s Ltd’s current performance. These observations do have limitations which will be noted. This report will explain how a cash flow statement and a prospectus could enhance analysis.