In order to be successful and develop, it is essential for each company to analyse its business operations from previous periods. Based on the results of such analysis the company management can take timely decisions in order to reach the set objectives. So far, various means and methods of analysing financial statements have been developed in practice. One of them is the analysis of financial indicators which, taken together, provide quality information necessary to monitor and manage business operations and the underlying business planning process which is an integral part of company management. However, it should be noted outright that the information obtained through such analysis is not comprehensive, as it provides us only with financial information and does not give insight into the company business as a whole. In writing this specialist postgraduate paper a theoretical research of key performance indicators was conducted, followed by a business performance analysis for the companies Ericsson Nikola Tesla d.d. and RIZ-ODAŠILJAČI d.d. The theoretical part of this paper focuses on the explanation of terms, types and content of key financial statements which form the basis for the performance analysis. In this respect, by analysing the balance sheet and profit and loss account as the selected financial statements, the indicators for the analysis of financial statements, such as profitability, efficiency, activity and investment indicators, have been studied in depth. Also, as part of a system of indicators, business performance indicators such as the DuPont system, the Altman Z-score model, Kralicek DF indicator and the synthetic indicator developed in the Republic of Croatia and known as the BEX index, have been analysed and explained.