Ratio analysis

Ranked adverse first, then watch, then the tests that came back clean; within a class by the finding’s figure as a share of the company’s revenue for the period, largest first. A balance sheet that does not tie, or a company no rate is held for, outranks any share.

Six companies, each judged against its own pillar’s range at 31 Aug 2026 and never against another’s. A ratio outside its range on the side the definition calls worse is adverse; outside on the better side is watch; within a class the rows rank by how far beyond the bound the value stands, as a share of the range’s width, because a ratio has no amount to take as a share of revenue.

A ratio is computed at a month end and there is no such thing as a ratio for a range. Every ratio on this screen is at 31 Aug 2026, the end of FY 2026-27 to date, and not across it.

Tested, at every company: every ratio with a published range against the range that is normal for the company’s own pillar at Aug 2026, outside on the side the definition calls worse reported as adverse and on the other side as watch, ranked by how far beyond the bound the value stands as a share of the range. A ratio the view states null is named under Data quality and not judged; a pillar with no published range is a check that did not run there; a company with no revenue in the month has the ratios that read the month’s flows withheld and named.

Not computed by the view at Aug 2026 for Arkan Technologies: interest cover (no finance cost in the month). A null is a gap on the screen, never a nought, and is not judged.

Sixteen Frames Music posted no revenue in Aug 2026, so the 13 ratios that read the month’s flows are withheld and named: gross margin, EBITDA margin, net margin, return on capital employed, return on equity, defensive interval, days sales outstanding, days inventory outstanding, days payables outstanding, cash conversion cycle, asset turnover, net debt to EBITDA, interest cover. The ratios that read the month-end balances are drawn.

Not computed by the view at Aug 2026 for Sixteen Frames Live: net debt to EBITDA (EBITDA not positive). A null is a gap on the screen, never a nought, and is not judged.

One check did not run: every ratio with a published range against the range normal for the company’s pillar, at every company — not at Blushell Marine (no range is published for the seafood pillar). Anything it would have found is not here; the read is named under Data quality.

Six rows at most, in two columns, adverse first: what needs acting on before what needs watching, and a clear row only where a test ran and found nothing. The rest is under Data quality at the foot of the screen, so the face never grows past what a reader can act on in a glance.

Current ratio above pillar range · Arkan Technologies · 366% of the range’s width beyond its high. Current ratio stands at 5.49× against the tech range of 1.30× to 2.20×, above it on the side the definition calls better. The range is the pillar’s own, from the published benchmarks, never the group’s.

Leverage below pillar range · Arkan Technologies · 74% of the range’s width beyond its low. Net debt to EBITDA stands at (1.49)× against the tech range of 0.00× to 2.00×, below it on the side the definition calls better. The range is the pillar’s own, from the published benchmarks, never the group’s.

Current ratio above pillar range · Sixteen Frames Films · 290% of the range’s width beyond its high. Current ratio stands at 3.53× against the film range of 0.80× to 1.50×, above it on the side the definition calls better. The range is the pillar’s own, from the published benchmarks, never the group’s.

Cash cycle below pillar range · Sixteen Frames Films · 167% of the range’s width beyond its low. Cash conversion cycle stands at (140) days against the film range of 60 to 180 days, below it on the side the definition calls better. The range is the pillar’s own, from the published benchmarks, never the group’s.

Gross margin below pillar range · Sixteen Frames Live · 260% of the range’s width beyond its low. Gross margin stands at (8.0)% against the events range of 18% to 28%, below it on the side the definition calls worse. The range is the pillar’s own, from the published benchmarks, never the group’s.

Interest cover below pillar range · Sixteen Frames Live · 948% of the range’s width beyond its low. Interest cover stands at (33.90)× against the events range of at least 4.00×, below it on the side the definition calls worse. The range is the pillar’s own, from the published benchmarks, never the group’s.

Days sales outstanding at 31 Aug 2026, one bullet a company, each against the range its own pillar publishes: Arkan Distribution 67 days, no range published; Arkan Technologies 103 days, no range published; Sixteen Frames Films 67 days, no range published; Sixteen Frames Music withheld; Sixteen Frames Live 76 days, no range published; Blushell Marine 93 days, no range published.

Sixteen Frames Music reports quarterly; its next statement is due Sept 2026. Its ratios that read the month’s flows are withheld and named; the ratios that read the month-end balances are drawn.

Blushell Marine (seafood) has no range published for any ratio, so its ratios are stated and not judged.

The ratio definitions of six companies, Aug 2026, read from Zoho Books and Tally Prime. Days sales outstanding at the month end for every company, each against the range its own pillar publishes.

The published benchmark ranges. One range a pillar, where one is published.

One ratio at a time, because six companies by nineteen ratios is a hundred and fourteen bullets and not a drawing. The chooser in the head of the panel beside this one writes the choice into the address, so a reader can send the screen as they see it; the default is the ratio with the most companies outside their range.

Every range on this screen is the range that is normal for that company’s own pillar, read from the published benchmarks for that pillar alone. Six per cent gross margin is healthy in handset distribution and alarming in software; a group average would describe neither, and no company here is judged against another’s range.

Days sales outstanding: Receivables ÷ (revenue ÷ 30). Lower is better.

Ranges: distribution none published; tech none published; film none published; music none published; events none published; seafood none published.

Days sales outstanding over the twelve months to Aug 2026, one row a company on its own scale, each company’s own pillar range as the band behind its line, the latest month marked. Marine moved most: 120 to 93 days.

Sixteen Frames Music reports quarterly; its next statement is due Sept 2026. Its ratios that read the month’s flows are withheld and named; the ratios that read the month-end balances are drawn.

The ratio definitions of six companies, the twelve months to Aug 2026, read from Zoho Books and Tally Prime. Days sales outstanding, month by month, one row a company; a month the view states null is a gap.

The reader looks for the company that moved on the ratio chosen. One row a company on its own scale shows the shape of each year; the band is that company’s own range, so the eye sees where the year sat against it without a second drawing; the title names the row that moved most from its first month with a value to its last, as a share of where it started.

The chooser is in this panel’s head and serves the panel beside it too: it changes what both draw, which is what a control on a face is for.

Arkan Distribution: 59 days at Sept 2025 to 67 days at Aug 2026, 12 of twelve months held.

Arkan Technologies: 114 days at Sept 2025 to 103 days at Aug 2026, 12 of twelve months held.

Sixteen Frames Films: 61 days at Sept 2025 to 67 days at Aug 2026, 12 of twelve months held.

Sixteen Frames Live: 74 days at Sept 2025 to 76 days at Aug 2026, 12 of twelve months held.

Blushell Marine: 120 days at Sept 2025 to 93 days at Aug 2026, 12 of twelve months held.

Every ratio the definitions hold at 31 Aug 2026, one column a company, in the four families. A cell in the signal ink stands outside the range its own pillar publishes, on either side; a dash is a ratio the view stated null, or one withheld for a month with no revenue, and the drawers and Data quality say which. 8 cells outside a range; 2 not computed.

Sixteen Frames Music reports quarterly; its next statement is due Sept 2026. Its ratios that read the month’s flows are withheld and named; the ratios that read the month-end balances are drawn.

Blushell Marine (seafood) has no range published for any ratio, so its ratios are stated and not judged.

The ratio definitions of six companies, Aug 2026, read from Zoho Books and Tally Prime. Every ratio the definitions hold at the month end, one column a company, each cell against the range its own pillar publishes.

The published benchmark ranges. One range a pillar a ratio, where one is published.

The comparison the group screen exists for, on one face: a ratio compares across currencies where an amount does not, so the whole set stands side by side. Working capital, an amount, is stated in each company’s own currency and never compared.

Every range on this screen is the range that is normal for that company’s own pillar, read from the published benchmarks for that pillar alone. Six per cent gross margin is healthy in handset distribution and alarming in software; a group average would describe neither, and no company here is judged against another’s range.

Arkan Technologies, not computed: interest cover (no finance cost in the month).

Sixteen Frames Live, not computed: net debt to EBITDA (EBITDA not positive).

Nothing is computed on this screen. Every value is the view’s, every range the benchmarks’; what the screen adds is the comparison between them, and the count of companies standing outside.

Every ratio the definitions hold, once, in the four families the screen draws them in: what it reads from the monthly summary, the formula in the definition’s own words, the unit, which way the definition calls better, and one column a pillar for the range that is normal there where one is published. 5 of 19 carry a range in some pillar; 4 in every pillar that publishes any.

Blushell Marine (seafood) has no range published for any ratio, so its ratios are stated and not judged.

A definition is what makes a ratio a fact: the reader reads it before the figure, and every figure on this screen opens it.

The ratio definitions. The name, family, formula, unit and direction of every ratio, as the definitions table holds them.

The published benchmark ranges. The range for each ratio in each pillar, where one is published.

The Reads column is a vocabulary keyed on each definition’s code, written from the formula’s words: it names the summary lines the formula reads and is not data the definitions hold. The codes, for a reader who needs them: Gross margin is gross_margin; EBITDA margin is ebitda_margin; Net margin is net_margin; Return on capital employed is roce; Return on equity is roe; Current ratio is current_ratio; Quick ratio is quick_ratio; Cash ratio is cash_ratio; Defensive interval is defensive_interval; Days sales outstanding is dso; Days inventory outstanding is dio; Days payables outstanding is dpo; Cash conversion cycle is ccc; Asset turnover is asset_turnover; Gearing is gearing; Debt to equity is debt_to_equity; Net debt to EBITDA is net_debt_ebitda; Interest cover is interest_cover; Working capital is working_capital.

Every range on this screen is the range that is normal for that company’s own pillar, read from the published benchmarks for that pillar alone. Six per cent gross margin is healthy in handset distribution and alarming in software; a group average would describe neither, and no company here is judged against another’s range.

A known calibration issue in the seeded books, reported rather than hidden: receivable and payable days come out far above anything realistic because opening balances do not fully drain over the modelled period, so the denominators are too small. The formula is not adjusted to make this look better — changing a ratio definition to hide a data problem turns it into a reporting problem — and the figures are shown as computed so the seed can be corrected against them. The fifteen-to-120-day plausibility check an earlier screen ran was the screen’s own rule and not the books’; it is gone, and the day counts are judged against each pillar’s range where one is published.

Return on capital employed, Return on equity, Asset turnover, Net debt to EBITDA annualise a single month by twelve, as the definition says, and the screen says so here rather than on the face.

Cash conversion cycle, Interest cover carry a high of 99 in the benchmarks, which is the sentinel for no upper bound: the range is read as a floor with no ceiling.

Working capital is an amount in each company’s own currency, current assets less current liabilities, and is listed here as one; it is not drawn as a bullet, has no range, and is never compared across companies.

Nothing is computed on this screen. Every value is the view’s, every range the benchmarks’; what the screen adds is the comparison between them, and the count of companies standing outside.