Financial analysis is useful and important to different users. Which of the following is not the user of Financial analysis:

Financial analysis serves various stakeholders who have interest in understanding a company's financial performance and position.

Finance managers use financial analysis extensively for budgeting, working capital management, investment decisions, and evaluating departmental performance.

Top management relies on financial analysis for strategic planning, policy formulation, performance measurement, and making critical business decisions.

Investors (both existing and potential) analyze financial statements to assess profitability, growth prospects, risk levels, and decide whether to invest, hold, or divest their investments.

However, non-competitive firms - companies operating in entirely different industries or markets with no competitive relationship - have no direct stake or interest in analyzing another firm's financials. They are not concerned with the company's performance as it doesn't affect their business operations or competitive position.

It's worth noting that competitive firms (not non-competitive) would actually be users of financial analysis as they benchmark their performance against competitors and analyze competitive strategies.

Therefore, non-competitive firms are not typical users of financial analysis.