Calculation of Business Ratios
Finance Stability Appraisal upon Relative Indices
Financial ratio
|
2002
|
2003
|
2004
|
2005
|
2006
|
Recom-mended values
|
Equity ratio
|
0,02
|
0,13
|
0,13
|
0,22
|
0,05
|
>0,5
|
Debt capital ratio (finance leverage)
|
0,98
|
0,87
|
0,87
|
0,78
|
0,95
|
<0,5
|
Own capital multiplier
|
48,95
|
7,93
|
12,38
|
9,29
|
68,5
|
-
|
Finance dependency ratio (debt to own funds)
|
47,95
|
6,93
|
6,69
|
3,60
|
20,12
|
<1
|
Long-term finance independence ratio
|
0,02
|
0,68
|
0,41
|
0,42
|
0,62
|
growth
|
Long-term investment structure ratio
|
0,00
|
0,74
|
0,39
|
0,29
|
0,70
|
-
|
Long-term debt ratio
|
0,00
|
0,81
|
0,68
|
0,48
|
0,92
|
-
|
Long-term investments coverage ratio (index of permanent assets)
|
35,90
|
5,83
|
5,51
|
3,16
|
1,32
|
-
|
Interest coverage ratio
|
0,73
|
-1,51
|
3,49
|
2,69
|
0,80
|
>1
|
Own working assets provision ratio
|
-2,67
|
-2,30
|
-2,07
|
-1,50
|
-4,41
|
>0,1
|
Own capital mobility ratio
|
-34,90
|
-0,50
|
-2,34
|
-1,25
|
-4,21
|
0,2-0,5
|
Actual property cost ratio
|
0,73
|
0,52
|
0,72
|
0,63
|
0,82
|
0,5
|
Balance-Sheet Liquidity Appraisal upon Relative indices
Item
|
2002
|
2003
|
2004
|
2005
|
2006
|
Recom-mended values
|
|
Liquidity and solvency ratios
|
|
|
|
|
|
|
|
Coverage ratios (current solvency)
|
0,27
|
0,81
|
0,44
|
0,49
|
0,43
|
2
|
|
Interim solvency ratio (quick liquidity)
|
0,27
|
0,81
|
0,43
|
0,49
|
0,43
|
0,8 and >
|
|
Absolute liquidity ratio
|
0,10
|
0,68
|
0,10
|
0,16
|
0,03
|
>= 0,2-0,5
|
|
Finance Stability Appraisal upon Absolute Indices
|
|
Item
|
2002
|
2003
|
2004
|
2005
|
2006
|
|
Sources of own funds (thousands of rubles)
|
1,264
|
5,829
|
8,459
|
10,610
|
17,027
|
|
Non-working assets (thousands of rubles)
|
45,378
|
33,998
|
46,570
|
33,505
|
296,317
|
|
Sources of own working assets in form of inventories and expenses (thousands of rubles)
|
-44,114
|
-28,169
|
-38,111
|
-22,895
|
-279,290
|
|
Long-term credit and loan funds (thousands of rubles)
|
0
|
25,556
|
18,355
|
9,669
|
207,616
|
|
Sources of own assets, adjusted to the amount of long-term loan funds (thousands of rubles)
|
-44,114
|
-2,613
|
-19,756
|
-13,226
|
-71,674
|
|
Short-term credit and loan funds (thousands of rubles)
|
0
|
10,248
|
27,450
|
16,284
|
9,398
|
|
Total amount of asset sources with consideration of long-term and short-term loan funds (thousands of rubles)
|
-44,114
|
7,635
|
7,694
|
3,058
|
-62,276
|
|
Amount of inventory and stock accounted in assets (thousands of rubles)
|
34
|
208
|
1,855
|
1,233
|
5,620
|
|
Surplus (+)/deficit (-) of the sources of own working assets (thousands of rubles)
|
-44,148
|
-28,377
|
-39,966
|
-24,128
|
-284,910
|
|
Surplus (+)/deficit (-) of the sources of own assets and long-term loan sources (thousands of rubles)
|
-44,148
|
-2,821
|
-21,611
|
-14,459
|
-77,294
|
|
Surplus (+)/deficit (-) of total value of all sources to form reserves and expenses (thousands of rubles)
|
-44,148
|
7,427
|
5,839
|
51,825
|
-67,896
|
|
|
|
|
|
|
|
|
Finance stability of the enterprise
|
Critical status
|
Relative stability
|
Unstable finance standing
|
Unstable finance standing
|
Critical status
| Business Activity Figures
Item
|
2002
|
2003
|
2004
|
2005
|
2006
|
Assets turnover (times)
|
0,31
|
0,58
|
0,44
|
0,91
|
0,23
|
Inventory turnover (times)
|
0
|
0
|
9
|
13
|
8
|
Accounts receivable turnover (times)
|
2
|
14
|
4
|
5
|
1,59
|
Total debts turnover (times)
|
0,31
|
0,66
|
0,51
|
1,17
|
0,25
|
Accounts receivable turnover length (days)
|
200
|
26
|
96
|
76
|
230
|
Average inventory age (days)
|
no
|
no
|
no
|
no
|
44,32
|
Operating cycle length (days)
|
200
|
26
|
96
|
76
|
230
|
Own capital turnover (times)
|
15
|
5
|
3
|
4
|
5
|
Working capital turnover (times)
|
1
|
2
|
2
|
3
|
1
|
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