The largest Russian IT-companies in terms of current liquidity ratio
Information Agency Credinform presents the ranking of Russian IT-companies. The largest companies (TOP-10), engaged in using of computing machinery and information technologies, in terms of revenue were selected according to the data from the Statistical Register for the latest available period (2014). The companies were ranged by current liquidity ratio (Table 1).
Current liquidity ratio (х) is a ratio of total working capital to short-term liabilities, it shows the funds sufficiency for repayment of debts.
The recommended value is from 1,0 to 2,0. Ratio value less than 1 demonstrates excess of short-term liabilities over current working capital.
For the most full and fair opinion about the company’s financial position, not only compliance with standard values should be taken into account, but also the whole set of financial indicators and ratios.
|Name, INN, Region||Net profit of 2014, mln RUB||Revenue of 2014, mln RUB||Revenue of 2014 to 2013 %||Current liquidity ratio, (х)||Solvency index Globas-i|
|18 720,8||51 506,0||127||3,30||172 The highest|
|3 637,4||13 385,7||108||2,34||204 High|
|LLC SAP CIS
|863,5||19 462,0||99||1,45||253 High|
|533,3||14 836,1||90||1,24||200 High|
|JSC CROC INCORPORATED
|502,0||22 455,1||95||1,09||238 High|
|21,3||19 982,2||117||1,03||249 High|
|JSC SOFTLINE TRADE
|97,1||21 096,2||123||1,02||191 The highest|
|1 332,6||16 946,2||145||1,02||231 High|
|LLC LUKOIL INFORM
|58,3||19 728,9||106||0,91||262 High|
|JSC NVISION GROUP
|-1 612,8||14 262,1||75||0,74||300 Satisfactory|
Values of the current liquidity ratio for the TOP-10 companies vary from 3,30 to 0,74. The average value of the current liquidity ratio of the 10 largest IT-companies in 2014 was 1,41 with average value 1,81 for the top-100 companies.
First two places of the ranking take LLC YANDEX and LLC MAIL.RU with current liquidity ratios exceeding the upper limit of recommended value, while working capital of the enterprises significantly exceeds short-term liabilities.
Ratios of LLC LUKOIL-INFORM and JSC NVISION GROUP are below the recommended values.
The TOP-10 companies except for JSC NVISION GROUP, ended 2014 with profit, at that LLC SAP CIS, I-TECO, JSC CROC INCORPORATED and LLC LUKOIL INFORM have value decrease in relation to the previous period.
JSC NVISION GROUP has got satisfactory solvency index Globas-i due to the available information of its participation as a defendant in debt collection arbitration proceedings, cases оf delay payment and loss in financial structure. The solvency rate of the company does not guarantee full and well-timed discharge of liabilities.
The rest 9 companies of the TOP-10 list have got the highest and high solvency index Globas-i that characterizes them as financially stable.
Picture 1. Revenue and current liquidity ratio for 2014 of the 10 largest IT-companies (TOP-10)
Following the results of 2014, the annual total revenue of the TOP-10 companies was 84,3 bln RUB, that is almost 20% of the total revenue of the companies from the corresponding TOP-100 list. This value has 9% grown related to 2013.
Therefore, inspite of difficult economic conditions, the industry demonstrates positive dynamics. The same information confirm data of the Federal State Statistics Service (Rosstat) showing dynamics in working capital of the companies engaged in using of computing machinery and information technologies (Picture 2 and Table 2).
Picture 2. Working capital according to the type of activity (Annual value, bln RUB)
The largest working capital have IT-companies dealing with software protection and consultancy in this sphere.
|2010||2011||2012||2013||2014||2014 to 2010, %|
|Software protection and consultancy in this sphere||89,6||103,7||161,0||235,6||275,0||307|
|Other activities connected with using of computing machinery and information technologies||51,9||60,3||124,9||132,1||170,9||329|
|Activities connected with development and usage of data bases and information resources, including Internet resources||63,8||50,4||79,8||105,7||123,4||193|
|Consultancy connected with hardware of computing machinery||19,9||56,1||32,0||45,2||63,0||317|
|Maintenance and repair of office and computer machinery||15,1||15,9||20,0||34,6||45,4||301|
The highest rate of working capital have the IT-companies carrying on other activities connected with using of computing machinery and information technologies.
High business concentration in Moscow – the largest financial center in the country – is typical for IT-companies. This fact is confirmed by the data from the Information and analytical system Globas-i on the regional distribution of 100 largest registered companies of the industry in terms of 2014 revenue (TOP-5 Regions):
|Region||Number of registered companies|
|The Republic of Tatarstan||3|