The liabilities and assets ratio of the largest Russian companies that received support from the government

ranking 02/12/2020

Information agency Credinform represents a ranking of the largest Russian companies that received support from the government (subsidies, subventions, budget investments, inter-budget transfers, independent guarantees, sureties and training events of the SME Corporation). Companies with the largest volume of annual revenue (TOP-10) were selected for the ranking, according to the data from the Statistical Register and the Federal Tax Service for the latest available periods (2018 - 2019). They were ranked by the liabilities to assets ratio (Table 1). The analysis was based on the data of the Information and Analytical system Globas.

Liabilities to assets ratio shows the share of assets financed by loans. The standard value for this ratio is from 0.2 to 0.5.

Sales revenue and net income show the scale and efficiency of the business activity, and the liabilities to assets ratio indicates the risk of the entity’s insolvency.

Exceeding the upper standard value indicates excessive debt load, which can stimulate development, but negatively affects the stability of the financial position of the company. If the value is below the standard value, this may indicate a conservative strategy of financial management and excessive caution in attracting new borrowed funds.

For the most complete and objective view of the financial condition of the enterprise, it is necessary to pay attention to the complex of indicators and financial ratios of the company.

Table 1. Revenue, net profit, liabilities to assets ratio, solvency index Globas of the largest Russian companies that received support from the government (TOP-10)
Name, INN, region Revenue, million RUB Net profit (loss), million RUB Liabilities to assets ratio (x), from 0,2 to 0,5 Solvency index Globas
2018 2019 2018 2019 2018 2019
1 2 3 4 5 6 7 8
TATNEFT JSC
INN 1644003838 Republic of Tatarstan
up793 237 up827 027 up197 523 down156 046 up0,22 up0,30 173 Superior
JSC RUSSIAN RAILWAYS
INN 7708503727 Moscow
up1 798 396 up1 848 123 up18 363 up53 457 up0,30 up0,32 196 High
JSC MAGNITOGORSK IRON&STEEL WORKS
INN 7414003633 Chelyabinsk region
up458 218 down434 869 up73 689 down55 563 up0,36 up0,38 174 Superior
JSC SIBUR HOLDING
INN 7727547261 Tyumen region
up486 062 down462 950 up108 439 up111 911 up0,46 up0,43 194 High
LLC TOYOTA MOTOR
INN 7710390358 Moscow region
up313 242 down299 016 up12 386 down8 651 down0,48 down0,54 214 Strong
JSC SEVERSTAL
INN 3528000597 Vologda region
up432 773 up457 588 down124 269 down105 732 up0,55 down0,64 193 Superior
JSC ROSTELECOM
INN 7707049388 Saint Petersburg
up305 939 up319 726 down5 381 down-3 363 down0,59 down0,64 267 Medium
JSC AEROFLOT-RUSSIAN AIRLINES
INN 7712040126 Moscow
up504 697 up551 767 down2 796 up5 287 down0,65 down0,65 195 High
LLC VOLKSWAGEN GROUP RUS
INN 5042059767 Kaluga region
up289 243 up330 882 up8 749 up17 988 up0,79 up0,72 210 Strong
JSC MEGAFON
INN 7812014560 Moscow
up305 426 up312 305 up16 430 down3 645 down0,75 down0,77 250 Medium
Average value for TOP-10 up568 723 up584 425 up56 803 down51 492 down0,51 down0,54  
Average value for TOP-1000 up20 374 up20 946 up1 331 up1 559 down0,65 up0,63  

вверх growth of indicator to the previous period, вниз decrease of indicator to the previous period

The average indicator of the net profit ratio of TOP-10 is below the average one of TOP-1000. In 2019, five companies have increased the value compared to the previous period.

Picture 1. Liabilities to assets ratio of the largest Russian companies that received support from the government (TOP-10) Picture 1. Liabilities to assets ratio of the largest Russian companies that received support from the government (TOP-10)

During six years, the average values of the liabilities to assets ratio of TOP-1000 have a positive trend to decrease (Picture 2).

Picture 2. Change in the average values of the liabilities to assets ratio of TOP-1000 largest Russian companies that received support from the government, 2014 - 2019 Picture 2. Change in the average values of the liabilities to assets ratio of TOP-1000 largest Russian companies that received support from the government, 2014 - 2019