Finanční analýza společností H&M a INDITEX

This thesis is focused on the financial analysis of the two largest companies in the fast-fashion industry. The paper shows the financial results of Hennes & Mauritz and INDITEX, it compares their performance in both operating and non-operating activities on adjusted statements. In the first part of the paper, the theory behind the thesis is explained. In the second part, the financial statements of both companies are adjusted and the financial analysis and valuation is performed. During the financial analysis the differences between the companies are shown. For the valuation part, the paper uses the condensed financial statements and the valuation is calculated by using the abnormal earnings valuation model.