Accounts payable turnover of the largest Russian telecommunication enterprises
ranking 06.03.2019
Information agency Credinform represents a ranking of the largest Russian telecommunication companies. The enterprises with the largest volume of annual revenue (TOP-10) were selected for the ranking, according to the data from the Statistical Register for the latest available periods (2015 – 2017). Then they were ranked by accounts payable turnover ratio (Table 1). The analysis is based on the data of the Information and Analytical system Globas.
Accounts payable turnover ratio (days) is calculated as the ratio of the average amount of accounts payable for the period to sales revenue. The ratio shows for how many days during the year the company has repaid the average amount of accounts payable.
The indicator reflects the process of repayment of debt to counterparties and is calculated to estimate cash flows. It helps to conclude about the efficiency of the company and chosen financial strategy.
The lower is the ratio, the faster the company settles accounts with suppliers. The increase in turnover may indicate both problems with payment of bills and more efficient cooperation with suppliers, providing more profitable, deferred payment schedule and using accounts payable as a source of cheap financial resources. Taking into account the actual situation both in the economy as a whole and in the sectors, the experts of the Information agency Credinform has developed and introduced in the Information and Analytical system Globas the calculation of practical values of financial ratios that can be recognized as normal for a particular industry. For telecommunication companies, the practical value of accounts payable turnover ratio is up to 88,40 days in 2017.
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.
Name, INN, region, business scope | Revenue, billion RUB | Net profit (loss), billion RUB | Accounts payable turnover, days | Solvency index Globas | |||
2016 | 2017 | 2016 | 2017 | 2016 | 2017 | ||
1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 |
JSC MEGAFON INN 7812014560 Moscow Activities in the field of communication based on wired technologies |
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235 Strong |
SCARTEL, LLC INN 7701725181 Moscow Provision of telephone services |
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248 Strong |
JSC VIMPEL-COMMUNICATIONS INN 7713076301 Moscow Provision of mobile services for voice transmission |
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188 High |
LLC T2 MOBILE INN 7743895280 Moscow Activities in the field of communication based on wireless technologies In process of reorganization by spin-off since 08.07.2016 |
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332 Adequate |
JSC ROSTELECOM INN 7707049388 Saint Petersburg Activities in the field of communication based on wired technologies |
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247 Strong |
JSC MOBILE TELESYSTEMS (MTS) INN 7740000076 Moscow Activities in the field of communication based on wireless technologies In process of reorganization in the form of merger of other legal entities since 04.07.2018 |
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207 Strong |
JSC ER-TELECOM HOLDING INN 5902202276 Perm territory Activities in the field of communication based on wired technologies |
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241 Strong |
JSC MOSCOW CITY TELEPHONE NETWORK (MGTS) INN 7710016640 Moscow Activities in the field of communication based on wired technologies Cases on recognition the company bankrupt are considered |
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550 Insufficient |
JSC TELECOMMUNICATION FOR OIL EXTRACTION AND TRANSPORTATION INDUSTRIES (Svyaztransneft) INN 7723011906 Moscow Activities in the field of communication based on wired technologies |
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226 Strong |
FGUP Russian Television and Radio Broadcasting Network (RTRS) INN 7717127211 Moscow Activities in the field of communication based on wireless technologies In process of reorganization by spin-off since 04.07.2016 |
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205 Strong |
Total for TOP-10 companies | ![]() |
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Average value for TOP-10 companies | ![]() |
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Industry average value | ![]() |
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— growth of indicator to the previous period,
— decrease of indicator to the previous period.
The average indicator of accounts payable turnover ratio of TOP-10 companies exceeds the practical and average values. In 2017, six companies of TOP-10 increased their figures in comparison with the previous period.

Over the past 10 years, the industry average values of accounts payable turnover ratio have a trend to decrease (Picture 2).
