This thesis, entitled "Financial Analysis of Veba, a.s. in a Purpose of Business Valuation" is divided into two parts. The first one is focused on methodical base sof financial analysis which is part of financial management. It includes subject, definition of financial analysis, users, information sources and various methods how to set up it. Last but not least its signifikance in business valuation. In the second section I am implementing theoretical findings on concerete company Veba, a.s. The main aim is work out external financial analysis of this company and compare it with branche results over the years 2005 - 2010. The conclusion summarizes results, suggestions and recommendations for financial health of company