Ratio analysis
Each ratio against the range that is normal for that pillar, not for the group — and where no range is held for that pillar, no range at all.
Each ratio against the range that is normal for that pillar, not for the group — and where no range is held for that pillar, no range at all.
Aug 2026, Sixteen Frames Music. The four ratios standing furthest outside the range normal for the music pillar, worst first; where fewer than four are off, the nearest to a limit fill the row. Eighteen months beneath each.
Aug 2026, Sixteen Frames Music. The four ratios standing furthest outside the range normal for the music pillar, worst first; where fewer than four are off, the nearest to a limit fill the row. Eighteen months beneath each.
Judged against its own pillar
Never against the groupEvery range on this screen is the range that is normal for this company’s pillar, read from ratio_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.
Every range on this screen is the range that is normal for this company’s pillar, read from ratio_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.
A data problem, not a result
Known defect1 working-capital ratio — Days payables outstanding — come back above 120 days, against a realistic 15 to 120. 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 below are shown as computed so the seed can be corrected against them.
Every ratio, month by month
FY 2026-27 to date| Ratio | Apr '26 | May '26 | Jun '26 | Jul '26 | Aug '26 | Target | Benchmark range | State |
|---|---|---|---|---|---|---|---|---|
| LIQUIDITY | ||||||||
| Current ratio | ≥ 1.50 | 1.50 – 3.00 | on target | |||||
| Quick ratio | — | not held | no benchmark | |||||
| Cash ratio | — | not held | no benchmark | |||||
| Defensive interval | — | not held | no benchmark | |||||
| Working capital | — | not held | no benchmark | |||||
| LEVERAGE | ||||||||
| Gearing | — | not held | no benchmark | |||||
| Debt to equity | — | not held | no benchmark | |||||
| Net debt to EBITDA | not held | not held | not held | not held | — | not held | no benchmark | |
| PROFITABILITY | ||||||||
| Gross margin | not held | not held | not held | not held | ≥ 55.00 | 55.00 – 70.00 | watch | |
| EBITDA margin | not held | not held | not held | not held | — | not held | no benchmark | |
| Net margin | not held | not held | not held | not held | — | not held | no benchmark | |
| Return on capital employed | — | not held | no benchmark | |||||
| Return on equity | — | not held | no benchmark | |||||
| WORKING CAPITAL | ||||||||
| Days sales outstanding | not held | not held | not held | not held | — | not held | no benchmark | |
| Days inventory outstanding | — | not held | no benchmark | |||||
| Days payables outstanding | — | not held | no benchmark | |||||
| Cash conversion cycle | not held | not held | not held | not held | ≤ 110 | 60 – 110 | watch | |
| Asset turnover | — | not held | no benchmark | |||||
| COVERAGE | ||||||||
| Interest cover | not held | not held | not held | not held | not held | ≥ 6.00 | 6.00 – 99.00 | watch |
The ratio definitions, FY 2026-27 to date. Each ratio against the range that is normal for the music pillar, never for the group. Every figure opens its definition and the two inputs behind it. A ratio with no published range for this pillar states so and is not called on target: a threshold this application invented would be a threshold nobody agreed.
The ratio definitions, FY 2026-27 to date. Each ratio against the range that is normal for the music pillar, never for the group. Every figure opens its definition and the two inputs behind it. A ratio with no published range for this pillar states so and is not called on target: a threshold this application invented would be a threshold nobody agreed.
Working capital days
DaysSuppliers fund 1299 days more than the company ties up
Days. Payment days are drawn below the axis because they fund the cycle rather than consume it.
The ratio definitions of Sixteen Frames Music, Aug 2026. Collection, holding and payment days.