At the moment there are more than 270 thousand of non-profit enterprises in Russia. Information agency Credinform presents a review of the activity trends of the largest of them. The largest companies (TOP-1000) in terms of annual revenue were selected for the analysis according to the data from the Statistical Register and the Federal Tax Service for the latest available accounting periods (2014 – 2019). Their selection and analysis were based on the data from the Information and Analytical system Globas.

Net assets are total assets less total liabilities. This indicator reflects the real value of the property of an enterprise. When the company’s debt exceeds the value of its property, the indicator is considered negative (insufficiency of property).

ANO TV-Novosti, INN 7704552473, Moscow, engaged in radio broadcasting, had the largest net assets amounting to more than 18 billion RUB in 2019.

The lowest net assets value among TOP-1000 was recorded for private company OTS EF ENGLISH FIRST CIS, INN 7707082829, Moscow, engaged in other education of children and adults n.e.c. In 2019, insufficiency of property of the enterprise was indicated in negative value of -2,4 billion RUB.

During six-year period, the average net assets values of TOP-1000 have a trend to increase, with the increasing growth rates (Picture 1).

Picture 1. Change in average net assets value in TOP-1000 in 2014 - 2019

The shares of TOP-1000 enterprises with negative net assets values had a negative trend to increase during last 6 years (Picture 2).

Picture 2. Shares of TOP-1000 organizations with insufficient property in 2014 - 2019

Sales revenue
The largest TOP-1000 company in 2019 in term of revenue amounting to more than 342 billion RUB is The Roscongress Foundation, INN 7706412930, Moscow, organisation of conventions and trade shows.

In general, there is a trend to increase in revenue with decreasing growth rates (Picture 3).

Picture 3. Change in average revenue of TOP-1000 in 2014– 2019

Profit and loss
The largest company in 2019 in term of net profit amounting to 661 billion RUB is The Roscongress Foundation as well.

During six-year period, the average profit figures have a trend to decrease with decreasing growth rates (Picture 4).

Picture 4. Change in average profit (loss) of TOP-1000 companies in 2014- 2019

During six-year period, the average net profit figures of TOP-1000 companies have a trend to increase with the increasing average net loss (Picture 5).

Picture 5. Change in average net profit and net loss of ТОP-1000 companies in 2014 – 2019

Key financial ratios
During six-year period, the average values of the current liquidity ratio of TOP-1000 companies were above the recommended one – from 1,0 to 2,0, with a trend to decrease. (Picture 6).

Current liquidity ratio (current assets to short-term liabilities) shows the sufficiency of company’s assets to repay on short-term liabilities.

Picture 6. Change in average values of current liquidity ratio of TOP-1000 in 2014 – 2019

During six years, the average ROI values had a trend to increase (Picture 7).

ROI ratio is calculated as net profit to sum of shareholders equity and long-term liabilities, and shows the return of equity involved in commercial activities and long-term borrowed funds.

Picture 7. Change in average values of ROI ratio of TOP-1000 in 2014– 2019

Assets turnover ratio is the ratio of sales revenue and company’s average total assets for a period. It characterizes the effectiveness of using of all available resources, regardless the source of their attraction. The ratio shows how many times per year the full cycle of production and circulation is performed, generating the corresponding effect in the form of profit.

During the six-year period, there was a trend to decrease of this ratio (Picture 8).

Picture 8. Change in average values of assets turnover ratio of TOP-1000 companies in 2014 – 2019

Small enterprises
54% companies of TOP-1000 are registered in the Register of small and medium-sized enterprises of the Federal Tax Service of the Russian Federation. However, their share in total revenue of TOP-1000 in 2019 amounts to almost 33%, which is significantly higher than the average country values in 2018 - 2019 (Picture 9).

Picture 9. Shares of small and medium-sized enterprises in TOP-1000

Main regions of activity
Companies of TOP-1000 are registered in 75 regions of Russia, and unequally located across the country. 32% of largest by revenue companies consolidate in Moscow and Moscow region (Picture 10).

Picture 10. Distribution of TOP-1000 revenue by the regions of Russia

Financial position score
According to the assessment, the financial position of most of TOP-1000 companies is above average (Picture 11).

Picture 11. Distribution of TOP-1000 companies by financial position score

Solvency index Globas
Most of TOP-1000 companies got Superior / High and Strong / Medium index Globas. This fact shows their ability to meet their obligations fully and by the due date (Picture 12).

Picture 12. Distribution of TOP-1000 companies by solvency index Globas

Conclusion
Complex assessment of activity of the TOP-1000 non-profit enterprises, taking into account the main indexes, financial ratios and indicators, demonstrates the prevalence of positive trends in their activity in 2014 - 2019 (Table 1).

Table 1. Positive and negative trends, evaluation factors

Trends and evaluation factors	Relative share of factor, %
Dynamics of the average net assets value	10
Rate of growth (decline) in the average size of net assets	10
Increase / decrease in the share of enterprises with negative values of net assets	-10
Dynamics of the average revenue	10
Rate of growth (decrease) in the average size of revenue	-10
Rate of growth (decline) in the average size of revenue	-10
Dynamics of the average profit (loss)	-10
Growth / decline in average values of companies’ net profit	10
Growth / decline in average values of companies’ net loss	-10
Increase / decrease in average values of current liquidity ratio	-5
Increase / decrease in average values of return on investment ratio	10
Increase / decrease in average values of asset turnover ratio, times	-10
Share of small and medium-sized businesses in terms of revenue being more than 20%	10
Regional concentration	-10
Financial position (the largest share)	10
Solvency index Globas (the largest share)	10
Average value of relative share of factors	0,3

positive trend (factor), negative trend (factor)

Information agency Credinform represents a ranking of the largest Russian non-grocery goods wholesalers. The largest distributors of garments, footwear, household appliances, pharmaceutical and other goods with the highest annual revenue (TOP-1000) were selected for the ranking, according to the data from the Statistical Register and the Federal Tax Service for the latest available periods (2014 - 2019). The selection and analysis of companies were based on the data of the Information and Analytical system Globas.

Net assets are total assets less total liabilities. This indicator reflects the real value of the property of an enterprise. When the company’s debt exceeds the value of its property, the indicator is considered negative (insufficiency of property).

The largest company in term of net assets is OTCPHARM JSC, INN 5047149534, Moscow, wholesale of pharmaceuticals. In 2019, net assets value of the company exceeded 58 billion RUB.

The lowest net assets value among TOP-1000 belonged to LLC TK RUS-STEKLO, INN 5047105505, Moscow region, wholesale of ceramics and glass items. The company is in insolvency and under supervision since 08.03.2021. In 2019, insufficiency of property of the legal entity was indicated in negative value of -1,8 billion RUB.

Covering the ten-year period, the average net assets values of TOP-100 have a trend to increase with an increasing growth rate (Picture 1).

Picture 1. Change in industry average net assets value in 2010 – 2019

Over the past six years, the share of companies with insufficient property had a positive trend to decrease (Picture 2).

Picture 2. Shares of TOP-1000 companies with negative net assets value in 2015-2019

Sales revenue
In 2019, the revenue volume of ten largest companies was 25% of total TOP-1000 revenue (Picture 3). This is indicative of a relatively high competition in the non-grocery goods wholesale market.

Picture 3. The share of TOP-10 companies in total 2019 revenue of TOP-1000

In general, there is a trend to increase in revenue (Picture 4).

Picture 4. Change in industry average net profit in 2010 – 2019

Profit and loss
The largest organization in term of net profit is JSC FARMSTANDART, INN 0274110679, Moscow region, wholesale of pharmaceuticals. The company’s profit for 2019 was near 12 billion RUB.

Covering the ten-year period, there is a trend to decrease in average net profit with the decreasing growth rate (Picture 5).

Picture 5. Change in industry average net profit (loss) values in 2010 – 2019

For the five-year period, the average net profit values of TOP-1000 have the increasing trend with the decreasing net loss (Picture 6).

Picture 6. Change in average net profit and net loss of ТОP-1000 in 2015 – 2019

Key financial ratios
Covering the ten-year period, the average values of the current liquidity ratio were within the recommended one - from 1,0 to 2,0 with a trend to increase (Picture 7).

Current liquidity ratio (current assets to short-term liabilities) shows the sufficiency of company’s assets to repay on short-term liabilities.

Picture 7. Change in industry average values of current liquidity ratio in 2010 – 2019

Covering the ten-year period, the average values of ROI ratio had a trend to increase (Picture 8).

ROI ratio is calculated as net profit to sum of shareholders equity and long-term liabilities, and shows the return of equity involved in commercial activities and long-term borrowed funds.

Picture 8. Change in industry average values of ROI ratio in 2010 – 2019

Assets turnover ratio is the ratio of sales revenue and company’s average total assets for a period. It characterizes the effectiveness of using of all available resources, regardless the source of their attraction. The ratio shows how many times per year the full cycle of production and circulation is performed, generating the corresponding effect in the form of profit.

Covering the ten-year period, business activity ratio demonstrated the decreasing trend (Picture 9).

Picture 9. Change in average values of assets turnover ratio in 2010 – 2019

Small business
48% of companies included in TOP-1000 are registered in the Register of small and medium-sized enterprises of the Federal Tax Service of the Russian Federation. In 2019, their share in total revenue of TOP-1000 was 10,3%, lower than the average country values (Picture 10).

Picture 10. Shares of small and medium-sized enterprises in TOP-1000

Main regions of activity
Companies of TOP-1000 are registered in 61 regions of Russia, and unequally located across the country. Near 71% of companies largest by revenue are located in Moscow and Moscow region (Picture 11).

Picture 11. Distribution of TOP-1000 revenue by regions of Russia

Financial position score
Assessment of the financial position of TOP-1000 companies shows that the majority of them have financial position above average (Picture 11).

Picture 12. Distribution of TOP-100 companies by financial position score

Solvency index Globas
Most of TOP-1000 companies got Superior / High and Strong / Medium indexes Globas. This fact shows their limited ability to meet their obligations fully (Picture 13).

Picture 13. Distribution of TOP-1000 companies by solvency index Globas

Conclusion
Complex assessment of activity of the non-grocery trade wholesalers, taking into account the main indexes, financial ratios and indicators, demonstrates the prevalence of negative trends in 2010 - 2019 (Table 1).

Table 1. Positive and negative trends, evaluation factors

Trends and evaluation factors	Relative share of factors, %
Dynamics of the average net assets value	10
Rate of growth (decrease) in the average size of net assets	10
Increase (decrease) in the share of enterprises with negative values of net assets	10
Level of competition / monopolization	5
Dynamics of the average revenue	5
Rate of growth (decrease) in the average size of revenue	10
Dynamics of the average profit (loss)	10
Rate of growth (decrease) in the average profit (loss)	-10
Growth / decline in average values of companies’ net profit	10
Growth / decline in average values of companies’ net loss	10
Increase / decrease in average values of total liquidity ratio	10
Increase / decrease in average values of return on investment ratio	10
Increase / decrease in average values of asset turnover ratio, times	-10
Share of small and medium-sized businesses in terms of revenue being more than 20%	-10
Regional concentration	-10
Financial position (the largest share)	10
Solvency index Globas (the largest share)	10
Average value of relative share of factors	4,7

positive trend (factor), negative trend (factor)