Fundamental analysis is carried out by studying the fundamentals of a stock, such as; earnings, capital and dividends through indicators. Most commonly used indicators, also used in this analysis, are indicators of liquidity, profitability, activity and indebtedness. These indicators determine the financial condition and the value of the shares of a company that is being observed; in this case it is INA PLC. Before analysing the stock, it is important to overcome the main concepts, in other words, to know what a stock actually is. A stock is a set of rights and obligations that are related to a joint-stock company, and the shareholder is a person who acquires all of those rights and obligations. It is necessary to know the trend a stock is moving in and to determine the stock volatility. Volatility is the range of price changes a company experiences over a given period of time. The purpose of this analysis is to demonstrate the performance of a stock in order to successfully determine how the price is going to change in the future. This thesis is going to show the theoretical elaboration of fundamental analysis and its main goal, which is determining the price movements.