How do you read a company's financial statement effectively?

How i assess the fundamental of a company as a layman:

1) Revenue, net income, operation cash flow increases consistently past 5yrs ( from financial statment)

2) Growth rate for next 5yrs (~30%)

3) Compare Profit margin to industries (competitve edge)

4) ROE (~30%)

5) current ratio (more than 1), debt servicing ratio (less than 30%)

If 1 - 5 all good, then can put in watchlist is a good company.

when to enter?

6) calculate the intrisic value (to know if is under or overvalue currently)

7) Then apply technical analysis to enter.