Due to the transition from a central-european accounting to the IFRS the message of the ratio analysis may change. Subject of this article is the impact of the valuation of assets at fair value on the ratio analysis. A complete valuation of the assets at fair value is impossible. Exceptions are intangible assets without an active market, held-to-maturity investments, inventories and deferred tax assets. The valuation of assets at fair value is not a single valuation concept, instead there exist three different models, the revaluation model, the fair value concept through profit and loss and the fair value concept with recognition of changes in the fair value directly in equity. Due to the valuation of current assets and most of current liabilities at fair value the short term solvency ratios are based on current valuations and provide therefore a high quality. In general, the revaluation model leads to a deterioration of the long term solvency ratios, the profit and loss and the profitability ratios. The message of the profitability ratios is adversely affected by the mixed recognition of valuation components in the revaluation model and in the fair value concept with recognition o...