Why is financial statement analysis needs to be studied and how a financial analyst can "know" if something is pricey or not pricey, and needing a reference to understand a baseline to make that decision?

The basic financial analysis methods empower an analyst with the knowledge to compare a business short-term liquidity and long-term solvency during economic downturns. They provide quantitative year comparisons and percentages both internal and external users can leverage to identify an overuse of debt, measure a lack of a company's profitability, and determine if a business liabilities exceeding available assets will impact their ability to pay maturing obligations, explain why?