Comparative Financial Statement Analysis: RAK Ceramics vs Saudi Ceramics

This case intends to give an insight into the financial statement analysis of a manufacturing firm in the UAE and a cross-sectional analysis with a similar manufacturing firm in Saudi Arabia. This case given an opportunity to have hands-on experience in preparing common-size financial statements, calculating the liquidity ratios, solvency ratios, activity ratios, and profitability ratios, and conducting the time series analysis and cross-sectional analysis with the data of two ceramics manufacturing companies from two GCC counties for the period 2016 to 2019. This case can be used as a class exercise or as an out of the class assignment for calculating different financial ratios and carrying out peer comparison at MBA and undergraduate levels in courses like introduction to finance, principles of finance, financial statement analysis, financial management, finance for non-financial managers, and financial accounting.