Start with the question, not the formula
What ratio analysis is for, where each input sits on the income statement and balance sheet, and why a number only means something next to another number — last year’s, or a peer’s.
Free learning initiative
A free ratio analysis crash course, from a set of statements to a view on the business
A balance sheet on its own is a list of numbers. Jobaaj Learnings is making this crash course free for every student — liquidity, solvency and profitability ratios, what each one is asking, and how analysts read them together.
No payment step. Open the first lesson straight away.
// FY24 statements, illustrative company
CURRENT 2.1x — assets cover this year
D/E 0.4x — lightly levered
NET MGN 12.4% — up from 11.5%
ROE computing
Current ratio
2.1x
quick 1.4x
Debt / equity
0.4x
coverage 9.8x
Net margin
12.4%
+90 bps YoY
Gross margin41.0%
Operating margin17.8%
Return on assets9.6%
Return on equity18.2%
Illustrative figures, not a recommendation
Our learners now work at
What you'll learn
Read the statements the way an analyst actually reads them
A ratio is a question put to the accounts. Can the company pay what is due this year? Is the debt sustainable? How much of each rupee of sales survives to the bottom line? This course teaches the questions, the formulas, and what the answers mean.
Liquidity: can it pay this year?
Current ratio, quick ratio and the working-capital view behind them — what counts as a current asset, why inventory gets stripped out, and what “too high” can mean.
Solvency: will it survive the debt?
Debt-to-equity, debt-to-assets and interest coverage — how much of the business is funded by lenders, and how comfortably profits cover the interest on it.
Profitability, part one: margins
Gross, operating and net margin, read top to bottom — where money leaks between revenue and profit, and which line a change in margin points you to.
Profitability, part two: returns
Return on assets, return on equity and return on capital employed — how much the business earns on what has been put into it, and why a high ROE is not always good news.
Reading them together
No ratio stands alone. Combining liquidity, leverage and returns into one view, comparing across years and peers, and the common traps — one-offs, window dressing and seasonal balance sheets.
Why it's free
We built this to be learned from, not sold.
A lot of people who need a skill like this are exactly the people least able to pay for it — students between semesters, freshers before a first job, anyone rebuilding after a break. So we took the fee off.
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The whole course, not a preview
Every lesson is open from the start. There's no locked second half and no upgrade waiting three modules in.
02
Free because it should be, not for a window
This isn't a promotional price or a trial. There's no clock on it and no fee arriving later.
03
Built to the same standard as the rest
Nothing was trimmed to make it free. It is the same material, at the same depth, as everything else we teach.
04
Yours to keep
Come back to a lesson next month or next year. Access doesn't expire and nothing gets pulled behind a paywall.
Where it takes you
The numbers every finance interview comes back to
Ratio analysis is assumed knowledge in credit, research, audit and corporate finance roles — and it is the first thing a CA, CFA or MBA finance interview will test.
Commerce, CA and MBA students
The most common reason people take this — the ratios turn up in every finance paper, case study and placement interview.
Financial Analyst
Read a company’s statements and turn them into a view for management or investors.
Credit Analyst
Assess whether a borrower can service its debt — solvency and coverage ratios are the core of the job.
Equity Research Associate
Support analysts with ratio screens, peer comparisons and the numbers behind a recommendation.
Audit & Assurance Associate
Use analytical ratios to spot what looks off before testing it in detail.
FP&A Analyst
Track margins and returns inside the company and explain the movements to leadership.
DeloitteKPMGEYPwCCRISILICRAHDFC BankICICI BankMotilal OswalKotak Securities
Salary bands are indicative market ranges for these roles in India, not an outcome promised by this course. Nothing on this page is investment advice.
Sixty-second check
How well do you read the numbers, really?Five questions on the things that actually trip people up. Answer them and you'll get a read on where you stand — and which part of the course to start from.
Certificate
Finish the course, get certified
Submit your assignment and Jobaaj Learnings issues a verifiable certificate you can share anywhere.
Official and verifiable
Issued and signed by Jobaaj Learnings, with a record an employer can check.
Easy to share
Add it to your résumé or post it to LinkedIn the day it's issued.
Evidence, not decoration
It says you finished the work and submitted the assignment — which is what it's worth showing for.
Learner journeys
Where people took it from here
A few of the moves made by learners who upskilled with Jobaaj Learnings.
S
Shubham
Financial Analyst
Moved into a financial analyst role after building out his modelling skills.
N
Nivas
Research Analyst
Started as a fresher with no industry experience and moved into a research analyst role.
A
Ambikesh
Valuations Analyst
Switched from an operations background into a valuations role.
H
Harsh
Asset Management Analyst
Moved from studying for CFA Level 2 into an asset management analyst role.
T
Tejashwini
Analyst, MNC investment bank
Went from MBA fresher to an analyst seat at a multinational investment bank.
M
Monish
Investment Banker
Went from an MBA outside the metro campuses to an investment banking seat.
Individual journeys shared by Jobaaj Learnings alumni. Outcomes vary and are not promised by this course.
Keep going
More free crash courses in finance and markets
Ratios are the first read on a company. These are the courses that build on it — and the ones that put it to work. All free from Jobaaj Learnings.
Free crash course
Equity research
Take the ratios into valuation, forecasting and a written research view.
ExploreFree crash course
Financial modelling
Build the three-statement model the ratios are computed from.
ExploreFree crash course
Portfolio management
Move from judging one company to building a portfolio of them.
ExploreFree crash course
Basics of the stock market
Exchanges, indices and order types — the market the companies trade on.
ExploreFree crash course
Technical analysis
The price-and-volume counterpart to reading the accounts.
ExploreFree crash course
Option trading
Premium, moneyness and the Greeks, from first principles.
ExploreFAQ
Questions people ask before starting
Yes. Jobaaj Learnings provides it free of cost. There’s no fee to start, no trial period that ends, and no payment step anywhere in the flow.
None. The course starts from the very beginning and builds up from there, so you can begin with no prior experience in the subject.
Yes. Every lesson is recorded, so you can pause, rewind and come back whenever it fits around classes or work. There’s no schedule to keep up with.
A passing familiarity with a balance sheet and a profit and loss statement helps, but it is not required — the introduction walks through where every input comes from before any ratio is calculated.
No. The formulas are simple enough for a calculator, and every number comes from a company’s own annual report, which is free on its website and on the exchange filings. A spreadsheet just makes comparisons quicker.
This course covers liquidity, solvency and profitability ratios — the ones that describe the business itself. Market multiples such as P/E and EV/EBITDA are covered in the equity research crash course, which is also free.
Compute the core liquidity, solvency and profitability ratios from a company’s statements, explain what each one is asking, compare them across years and against peers, and say what a change in a ratio actually means for the business.
Write to training@jobaaj.com and we’ll get back to you.
Free · Jobaaj Learnings
Ready to read the numbers?
This crash course is completely free. Open the first lesson and start with your first ratio.
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