First, the solvency analysis:
1. Short-term solvency refers to the ability of an enterprise to repay its current liabilities with its current assets, which reflects the ability of an enterprise to repay its daily debts due. Financial indicators:
Current ratio = current assets/current liabilities
Quick ratio = quick assets/current liabilities = (current assets-inventory)/current liabilities
Cash ratio = cash assets-current liabilities
2. Long-term solvency refers to the ability of an enterprise to undertake debts and guarantee repayment of debts. Financial indicators:
Asset-liability ratio = total liabilities/total assets
Shareholders' equity ratio = shareholders' equity/total assets
Interest guarantee multiple = earnings before interest and tax/interest expense.
Second, the profitability analysis:
1, the net profit rate of sales is the main indicator reflecting the profitability of enterprises.
Net profit rate of sales = net profit ÷ main business income
2. By analyzing the net interest rate of assets, we can evaluate the economic benefits of enterprises.
Net interest rate of assets = net profit/total assets
3. ROE is an indicator for investors to evaluate the return on investment.
Return on net assets = net profit ÷ average shareholders' equity
Three. Operational capacity analysis:
It reflects the efficiency of enterprise management and utilization of economic resources.
1, inventory turnover rate = cost of goods sold ÷ average inventory occupation.
2 accounts receivable turnover rate = net sales income ÷ average balance of accounts receivable.
3. Total assets turnover rate = main business income ÷ average total assets
How to evaluate the financial status of bidding enterprises Abstract: The Law of People's Republic of China (PRC) on Tendering and Bidding has standardized the bidding activities of engineering construction projects since it was passed and promulgated by the National People's Congress in 1999. For the tenderer, whether the bidding enterprise can meet the technical requirements, quotation requirements and qualification examination standards of the project is the main factor to be considered in bid evaluation; On the other hand, due to the main factors of bidding enterprises; On the other hand, because the financial situation of the bidding enterprise comprehensively reflects the business development level, project management level and cost control level of the enterprise, the economic strength, asset liquidity and profitability of the bidding enterprise are of great significance to whether the construction project can be completed on time with good quality and quantity, which has attracted the attention of the bidding unit and has gradually become an important part of the bid evaluation of the construction project.
Evaluation indicators reflecting the financial situation of enterprises? ABCDF
From what aspects should we evaluate the financial situation and solvency of enterprises?
Analysis of Long-term Debt Repayment and Short-term Debt Repayment
According to the balance sheet cutoff date
Short-term debt service analysis: according to the proportion of current assets, the higher the current assets/current liabilities, the better.
Long-term debt repayment analysis: according to the proportion of total assets, the lower the total liabilities/total assets, the better.
Other financial conditions: analysis of operational capacity.
profitability analysis
Conduct a competency analysis and see what you know.
First, to evaluate the financial status and solvency of enterprises, we should start with financial indicators.
Second, the financial index formula:
1. Liquidity ratio. It is a measure of the company's ability to repay short-term debts. Solvency ratio is a comparison between short-term debts and available short-term liquidity sources to repay these debts.
(1) current ratio. It shows a company's ability to repay its current liabilities with current assets, which is the most commonly used solvency ratio. Its calculation formula is: current ratio = current assets ÷ current liabilities. Generally speaking, the higher the current ratio, the stronger the short-term solvency of the company and the more secure the rights and interests of creditors. It is generally considered that the ratio of 2∶ 1 is more appropriate. However, the current ratio should not be too high, which means that the company's current assets occupy more, which will affect the efficiency of capital use and the company's profitability.
(2) Acidity test ratio, also known as quick ratio. It shows the company's ability to repay current liabilities with the most liquid assets. The calculation formula is: acid measurement ratio = (current assets-inventory) ÷ current liabilities.
2. Financial leverage ratio. Reflect the ratio of the company's debt financing.
(1) Property right ratio. Reflect the relative relationship between debt funds provided by creditors and equity funds provided by owners, and whether the basic financial structure of the company is stable. Its calculation formula is: property right ratio = total liabilities ÷ shareholders' equity. The proportion of property rights indicates the amount of loans that creditors are willing to provide for every yuan provided by shareholders. In the period of increasing inflation, companies can transfer losses and risks to creditors through more loans; During the economic boom, companies can earn extra profits by borrowing more money.
(2) Asset-liability ratio. Reflect the importance of debt financing to the company. Its calculation formula is: asset-liability ratio = total liabilities ÷ total assets. There is a direct relationship between asset-liability ratio and financial risk: the higher the asset-liability ratio, the higher the financial risk; Conversely, the lower the asset-liability ratio, the lower the financial risk.
(3) The ratio of long-term liabilities to long-term capital. Reflect the relative importance of long-term liabilities to capital structure (long-term financing). Its calculation formula is: the ratio of long-term liabilities to long-term capital = long-term liabilities ÷ long-term capital. Long-term capital is the sum of all long-term liabilities and shareholders' equity.
3. Guarantee ratio. It is the ratio of the company's financial expenses to its ability to pay and guarantee. The interest guarantee ratio indicates the company's ability to pay interest expenses. The calculation formula is: interest guarantee rate = income before interest and tax ÷ interest expense, or = profit before interest, tax, depreciation and amortization (EBIT)÷ interest expense. Depreciation and amortization are adjustments to previous expenditures on an accrual basis. In fact, they still belong to this year's cash flow and can also be used to pay interest expenses.
4. Turnover rate. This is a ratio to measure how effectively a company uses its assets.
(1) Accounts receivable turnover rate. Reflect the quality of the company's accounts receivable and the performance of the company's accounts receivable, and explain the number of accounts receivable realized in the year. Its calculation formula is: accounts receivable turnover rate = annual net sales ÷ accounts receivable.
(2) Average collection period, also known as average cash collection period. The calculation formula is: average payment period = days within one year ÷ accounts receivable turnover rate, or = (accounts receivable × days within one year) ÷ annual credit sales amount. The turnover rate of accounts receivable and the average payment cycle are closely related to the company's credit policy environment. The faster the turnover of accounts receivable, the shorter the time to realize sales and actually receive cash, but the too fast turnover of accounts receivable and the short average cash withdrawal period may mean that the credit policy is too strict. The balance of accounts receivable on the book is very low, but it may greatly reduce sales and corresponding profits.
(3) Accounts payable turnover rate. Its calculation formula is: accounts payable turnover rate = annual credit purchase amount ÷ accounts payable.
(4) The turnover days of accounts payable, also known as the average cash payment period. The calculation formula is: turnover days of accounts payable = days within one year ÷ turnover rate of accounts payable, or = (days within one year of accounts payable) ÷ annual credit purchase amount.
(5) Inventory turnover rate. Its calculation formula is: inventory turnover rate = cost of sales ÷ inventory.
(6) Inventory turnover days. The calculation formula is: inventory turnover days = days in one year ÷ inventory turnover rate, or = (days in inventory × days in one year) ÷ sales cost. The faster the inventory turnover, the stronger the liquidity of inventory. However, the high turnover rate may be a signal that the inventory occupation level is too low or that the inventory is often out of stock.
(7) Business cycle. Refers to the period from the time when the outsourcing undertakes the payment obligation to the time when the accounts receivable arising from the sale of goods or the provision of services are recovered. The calculation formula is: business cycle = inventory turnover days+average payment cycle. The length of business cycle is an important factor to determine the company's demand for current assets. Short business cycle indicates that accounts receivable and inventory management are effective.
(8) Cash conversion cycle. The calculation formula is: cash conversion cycle = business cycle-turnover days of accounts payable. When analyzing the cash conversion cycle, we must note that this indicator affects both the company's business decisions and the company's financial decisions, and people may ignore the wrong management of these two decisions. For example, not paying in time will lose the credit of the company, but it can directly shorten the cash conversion cycle.
(9) Total assets turnover rate. It shows the efficiency of the company using its total assets to create sales revenue. Its calculation formula is: total assets turnover rate = net sales ÷ total assets.
5. profitability.
(1) gross profit margin. It is the ratio of the company's total sales profit to net sales. Gross sales profit refers to the balance of net sales minus sales cost. Net sales is the difference between sales revenue and sales returns, sales discounts and discounts. Its calculation formula is: gross profit margin = sales gross profit margin ÷ net sales = (net sales-cost of sales) ÷ net sales. Gross profit margin is an important financial indicator for commodity circulation enterprises and manufacturing industries to reflect the profitability of commodity or product sales. The commodity selling cost of commodity circulation enterprises is the purchasing cost of commodities, while in manufacturing industry it is the production or manufacturing cost of products. Gross profit is the operating profit after deducting the expenses during the operating period. It can be seen that the gross profit margin reflects the initial profitability of the company's product or commodity sales, and maintaining a certain gross profit margin is very important for the company's profit realization.
(2) Sales profit rate. It is the percentage of profit in net sales revenue. This indicator shows the company's ability to make a profit for every dollar of products sold. Its calculation formula is: sales profit rate = profit amount ÷ net sales income. When analyzing with this ratio, it is customary to use total profit, but the total profit includes not only sales profit, but also investment income and non-operating income and expenditure, which leads to different calculation calibers of numerator and denominator. Therefore, the author suggests adopting a narrow sense of sales profit, which is actually the profit rate of the main business. It is an important indicator to measure whether a company can continuously obtain profits and is more valuable for management decision-making.
(3) Return on investment. It is an index to measure the comprehensive efficiency of a company. Its calculation formula is: return on investment = net profit after tax ÷ total assets = net sales rate × total assets turnover rate.
(4) Return on net assets. Reflect the profitability of shareholders' book investment. Return on net assets = net profit after tax ÷ shareholders' equity = net profit from sales × total assets turnover × equity multiplier = return on investment × equity multiplier.
How to evaluate whether the financial status index of an enterprise is reasonable? First, the establishment of financial evaluation indicators
Enterprise financial evaluation indicators should follow the following principles: (1) Evaluation indicators should first pay attention to the financial objectives of enterprises and attach importance to financial indicators. (2) The evaluation index should abide by the financial discipline and must be linked with the existing accounting system, and its evaluation basis is taken from the existing financial accounting data of the enterprise. (3) The evaluation index is scientific and reasonable. These indicators should not be repeated in the economic content covered, but should cooperate with each other in the checked relationship. (4) The evaluation index is simple. The calculation of indicators should be simple, the number of indicators should not be too large, and the meaning of indicators should be accurately defined. (5) The evaluation index pays attention to the traditional culture, business strategy and objectives of the enterprise. Financial evaluation indicators must adapt to the traditional culture of enterprises and connect with the business strategy and objectives of enterprises.
According to the above principles, the content of enterprise financial evaluation should cover the main contents of enterprise capital risk, business risk and market risk. I think the following evaluation indicators are more appropriate, enough to meet the needs of enterprise evaluation:
1. Evaluation of solvency, including: current ratio, quick ratio, asset-liability ratio and cash sales ratio.
2. profitability evaluation, including cost profit rate, return on assets and return on capital.
3. Evaluation of operating efficiency, including: market share, production and marketing balance rate and equipment utilization rate.
4. Development ability evaluation, including: sales growth rate and net asset growth rate.
5. Evaluation of contribution ability, including: social contribution rate and social accumulation rate.
Second, the application of enterprise financial evaluation indicators
The above financial evaluation indicators only refer to the evaluation of a single enterprise, and the ratio cannot be fully reflected from a single enterprise. With the above indicators and proportions, it should also be compared with the average advanced level of society and the average level of the same industry. If the current ratio is not lower than 1, the quick ratio is not lower than 2, and the asset-liability ratio is not higher than 60%, the three-phase indicators of the evaluated enterprise are 0.80, 1.67 and 78% respectively. From the perspective of a single enterprise, Assuming that the average social advanced level of the three indicators in the same period is 1.2, 2.5 and 765433 respectively, if the average level of the same industry is 1.3, 2.2 and 70% respectively, the current ratio and quick ratio of the assessed enterprise are low, and the asset-liability ratio is obviously high, from which we can see the gap between the assessed enterprise and the social advanced level and the average level of the same industry, and we can also analyze the assessed enterprise. For example, if the proportion of short-term liabilities is large, the repayment pressure of short-term liabilities will be great. At the same time, we should also consider the proportion of cash sales, because cash is the blood of enterprise operation, and insufficient cash causes insufficient hematopoietic function of enterprises. At this time, profitable enterprises will also go to litigation and bankruptcy liquidation because of insufficient cash, and enterprises must pay attention to the income and use of cash.
The average advanced level of society and the average level of the same industry can be obtained by combining the regular announcements of listed companies and paying attention to the statistical evaluation data of the Ministry of Finance, the State-owned Assets Supervision and Administration Commission and the Bureau of Statistics and the data of industry journals. Of course, if you compare with competitors, you should combine the information of competitors.
Third, the application of financial evaluation index analysis
In order to facilitate discussion and further explain the application of enterprise financial evaluation indicators, we will briefly explain the specific application of enterprise financial evaluation with examples:
I. Basic information of the company
Basic information such as business scope, business performance, industry, industry status and business strategy.
Second, the solvency evaluation
The short-term solvency of enterprises is very important to users of financial statements. If an enterprise cannot maintain a certain short-term solvency, it is naturally impossible to maintain a certain long-term solvency and cannot meet the requirements of shareholders. A profitable enterprise may even go bankrupt if it cannot repay the debts of its short-term creditors. When analyzing the short-term solvency of enterprises, current assets and current liabilities are closely related. Generally speaking, the cash to repay current liabilities is generated by current assets. To this end, the following indicators are provided.
Table 1: solvency analysis
Serial number year 200220032004
1 current ratio (2 is low) 1.080.928+0
2 quick ratio (1 low) 0.750.640.56
3 Cash sales ratio (%) 8 1.45 89.438+098.84
4 Asset-liability ratio (%)73.9970.3064.68
(A) the current ratio evaluation
The current ratio measures the ability of an enterprise to convert its current assets into cash to repay its current liabilities before the short-term debt expires. By the end of 2004, the current ratio was 0.9 1%, which did not reach the internationally recognized level (the internationally recognized index is 1, the best). Combined with the company's indicators for four consecutive years, the index showed a downward trend, indicating that the company's short-term debt repayment ability weakened.
(B) quick ratio analysis and evaluation
In order to better analyze the company's short-term solvency, the quick ratio index is introduced to measure the ability of current assets to repay current liabilities immediately. After excluding the inventory factor in 2004, the quick ratio was 0.56, which did not reach the internationally recognized level (the internationally recognized index was the best at 2: 00), and the average domestic industry was 2.2. Combined with the company's indicators for four consecutive years, the company's short-term debt repayment ability is weak and has declined.
(C) cash sales ratio evaluation
Judging from the net cash flow generated by current operating activities, the company's cash sales ratio index is lacking, and it does not reach 1. The growth of cash inflow failed to keep pace with the growth of main business income, and realized income without receiving cash, indicating that the company's sales policy needs to be improved.
(D) Analysis and evaluation of asset-liability ratio
Asset-liability ratio is a measure of an enterprise's ability to use the funds provided by creditors to conduct business activities, reflecting the security of creditors' loans. In a mature capital market, due to the profit pressure from shareholders at any time, enterprises often pay great attention to keeping the capital structure in an optimal state, so as to minimize the financing cost on the premise of ensuring the liquidity of capital mobilization. Under normal circumstances, as long as it does not increase its own bankruptcy risk, the most economical way for enterprises is to borrow as much as possible, rather than expand shares, because debt capital has the advantages of tax deduction and priority repayment, and its cost is often much lower than shareholders' equity capital.
Theoretically speaking, adopting conservative financing strategy can reduce the financial risk of enterprises on the one hand, but it is not good for shareholders on the other.
The company's asset-liability ratio has declined steadily. In terms of financial risk, it is 70% lower than the industry average. In this way, creditors are basically relieved, and there is generally no phenomenon that debts cannot be repaid when they are due. However, from the perspective of shareholders, the company failed to make full use of financial leverage to operate in debt, and could not achieve leverage benefits. Further analysis mainly focuses on current liabilities, indicating that the company's short-term debt repayment pressure is great, and there is a possibility that it will not be repaid when it expires. The cash flow from operating activities is insufficient, and the financial pressure to repay debts is great. The quick ratio of the company is worse than the current ratio, indicating that the company's inventory occupies a lot of money.
Third, the capital return rate evaluation
As an investor, we should pay attention to the rate of return on capital, and the comparative index is the rate of cost of capital. The former refers to the ratio of net operating profit after tax to total capital, and the latter refers to the cost of capital divided by total capital. The cost of capital refers to the minimum expected income required to invest these funds in projects or companies with similar risks, and treasury bill rate can be used as a basis for comparison.
Table 2: Analysis of Return on Capital
Serial number year 200220032004
Return on capital 1 (%) 3.933.4438+02.29
2 Capital cost ratio (%)3. 142.472.63
The return on capital should be higher than the cost of capital. At this time, the amount of return that shareholders can get from investing capital will be higher than the opportunity cost that they should pay for acquiring these capitals. Only in this case will shareholders really make a profit. If the return on capital is lower than the cost of capital, the wealth of shareholders is not growing, but being consumed constantly.
According to the company's financial data, its return on capital is greater than the cost of capital, indicating that shareholders can get better returns. From a purely financial point of view, the return of shareholders investing in this project is greater than the return of investing in national debt.
Four. Analysis and evaluation of operational efficiency
As investors or users of other statements, we should not only care about the business performance of enterprises, but also analyze the utilization effect of enterprise assets, so as to analyze the source of profits.
Table 3: Operational Efficiency Analysis
Serial number year 200220032004
1 market share (%)2.232.462.56
2 Balance rate of production and marketing (%) 77118124
3 Equipment utilization rate (%)72.669.275.6
(a) market share assessment
Market share reflects the position of the enterprise in the market competition and whether the products meet the market demand. The company's market share is increasing year by year, indicating that the competitiveness of enterprises is gradually improving, but the growth is slow.
(B) Evaluation of the balance rate of production and marketing
The index of production and marketing balance rate reflects the degree that the production achievements of an enterprise are recognized by the society in a certain period, and objectively reflects the operating efficiency of the enterprise. In the index system designed by us, it does not overlap with other indicators and is an ideal index to express the operating efficiency of the enterprise.
The company's production and marketing balance rate has increased year by year, from insufficient output to exceeding sales in 2004. The balance rate of production and marketing in the industry is 1 12%, which shows that the supply of products in the whole industry exceeds demand, and the balance rate of production and marketing in the company is at a high level, which should be paid attention to.
(3) Evaluation of equipment utilization rate
As can be seen from Table 3, the utilization rate of the company's equipment is increasing year by year, which is higher than the average level of 68% in the same industry. The company's equipment utilization rate is good, mainly due to the growth of main business income, which also shows that the company's sales policy and strength have improved. However, due to production exceeding sales, some equipment can not be fully utilized, resulting in idle waste. We should pay attention to adjusting the industrial structure at any time according to market demand.
Profitability evaluation of verb (verb's abbreviation)
Profitability is the ability of an enterprise to earn profits, and the analysis of profits is very important for shareholders, because whether shareholders are profitable or not and how much depends on the profits of the enterprises they invest in. Similarly, profits are also important to creditors, because profits are one of the sources of repayment of funds.
Table 4: Profitability Analysis
Serial number year 200220032004
1 cost profit rate (%)1.3913.8920.02
2 Return on assets (%)0.66 1. 133.67
(A) Cost-profit rate evaluation
Cost-profit ratio reflects the relationship between enterprise cost and profit. As can be seen from Table 4, it is also very obvious that the profit rate of costs and expenses is on the rise, leading to an increase in the company's profits.
(B) Assessment of return on assets
Return on assets = pre-tax interest profit/average balance of assets × 100%, and the return on assets index has included the turnover rate of total assets. Therefore, in our index system, it is no longer appropriate to use "turnover rate" such as accounts receivable turnover rate, inventory turnover rate, current assets turnover rate, fixed assets turnover rate and total assets turnover rate to represent the operating efficiency of enterprises. Otherwise, the contents reflected between evaluation indexes will be duplicated.
Evaluation of developing ability of intransitive verbs
The value of a company depends largely on its sales revenue.
Table 5: Analysis of Growth Capacity
Serial number year 200220032004
1 sales growth rate (%)13.113.44438+00.6438+02.
2 Net asset growth rate (%) 4.895.7111.38
(A) the evaluation of sales growth rate
The growth rate of sales reflects the sales prospects and trends of enterprises in the market competition. As can be seen from Table 5, the company's main business income is increasing, but the growth trend is steadily slowing down.
(B) Evaluation of the growth rate of net assets
As can be seen from Table 5, the growth rate of the company's net assets shows a steady upward trend with rapid growth. The main business income, main business profit and shareholders' equity all show a steady upward trend, indicating that the company has certain growth ability. The asset scale has not changed much, and the net profit has increased significantly, indicating that the company's profitability has gradually increased.
Seven. Evaluation of contribution ability ...
Eight, comprehensive analysis
From the above analysis, it can be seen that the company strictly controls financial risks, with a low asset-liability ratio, but insufficient cash flow ratio and insufficient sources of funds to repay short-term debts; Average index's asset turnover rate is lower than that of the same industry, which needs to be improved; By analyzing the profit rate of cost and expense in recent three years, it can be seen that the profit rate of cost and expense of the company is increasing year by year, and the main profit space is increasing year by year, but the company should pay attention to strengthening the control of period expenses; The company's main income, sales profit and net assets all showed a steady upward trend, the proportion of cash inflow and outflow increased steadily, and the return on capital was good. The scale of liabilities, especially long-term liabilities, is small and shows a downward trend, indicating that the company has certain growth ability, but the company has failed to make full use of its debt management and cannot obtain leverage.
Four, the use of evaluation of financial indicators, to develop practical measures to prevent financial risks.
The evaluation of financial indicators is a means of analysis and diagnosis and an early warning system of financial risks. Therefore, according to the evaluation of financial indicators and the actual situation of enterprises, practical measures to prevent financial risks should be formulated.
From the perspective of a single enterprise, insufficient income is the main factor leading to financial risks. Operating income is the operating income after deducting operating costs, taxes and other operating expenses. If the enterprise has lost money from its operating income, it means that the enterprise is close to bankruptcy. Even if the total income is profit, it may be due to the increase in profits formed by non-main business or non-operating income, such as the sale of securities and fixed assets. If the operating income is profit and the total income is loss, the problem is not too serious, indicating that there has been a crisis signal, but it can still operate normally. This is because the capital structure of enterprises is unreasonable, the scale of borrowing is large and the interest burden is heavy. Enterprises must take effective measures to adjust the evaluation of financial indicators.
But fundamentally speaking, the financial risk of an enterprise is caused by borrowing. For example, enterprises use their own funds completely, but only business risks have no financial risks, and improper capital structure is an important reason for the financial crisis. According to the evaluation of financial indicators, capital structure can be divided into three types: one is that current assets are realized through current liabilities, and all self-owned funds are used to raise fixed assets, which belongs to normal capital structure types; Second, the accumulated surplus is negative, indicating that some of its own funds have been eaten up by losses, thus the proportion of its own funds in total capital has decreased, indicating that a financial crisis has occurred; The third category is that losses have eroded all its own funds. This is because the assets are insolvent and decisive measures must be taken to turn losses into profits, otherwise the enterprise may go bankrupt at any time.
To sum up, using the evaluation of financial indicators, we can find out the weak links of enterprises, formulate strategies and measures for fund-raising activities, investment activities, fund recovery and income distribution, prevent and avoid financial risks, and make enterprises develop stably and healthily for a long time.
How to use the current ratio index to evaluate the financial position of an enterprise (1) Theoretically, if the current ratio is greater than 1, the enterprise will have short-term solvency. Generally speaking, the higher the current ratio, the stronger the short-term solvency of enterprises.
(2) However, if the current assets contain more accounts receivable with overstocked inventory, long aging and high risk of bad debts, and the current ratio is high, it does not mean that the enterprise has strong short-term solvency.
(3) Excessive liquidity ratio may adversely affect the profitability of enterprises.
(4) Enterprises in different industries and in different periods cannot adopt uniform standards to evaluate whether their turnover ratio is reasonable.
(5) Because the current ratio is a time index, the influence of false factors should be excluded in the analysis.
What is the financial situation of an enterprise? What problems should be paid attention to when analyzing the financial situation of an enterprise? The status of assets, liabilities and owners' equity (or shareholders' equity) of an enterprise on a specific date is the financial status of the enterprise. A balance sheet is a statement that reflects the financial situation of an enterprise on a specific date.
To analyze the financial situation of an enterprise, we usually pay attention to the asset ownership, operating results and cash flow in an accounting period.
I need an analysis of the financial situation of the enterprise. . Well, I don't understand your question. Want to do a paper on the financial situation analysis of any enterprise or ask how to do it?
If it is the latter, you should first choose a company, preferably a listed company's financial statements, which can be downloaded and analyzed. It is nothing more than solvency analysis and profitability analysis. Many models are not limited to what form they use. What matters is the use of the data ~ As for the analysis software, I have never seen or used it. Maybe there is ~