THE STATE AND TRENDS OF ENTERPRISES EFFICIENCY ON THE BASIS OF MODERN INDICATORS

Abstract

One of the most relevant approaches for determining the company performance is rightly considered the attractiveness of the company in terms of investing in it and receiving remuneration from the owners or managers of the company. From these positions, we can distinguish four groups of performance analysis indicators: growth indicators (revenue / sales, net profit, EBIT, EBITDA, FCF and OCF, CAPEX (OPEX); performance indicators (ROE, EBIT margin, EBITDA margin, Net Income margin); indicators of condition assessment (multipliers and underestimation) (EV/EBITDA, P/E, P/BV, FCF Yield, FCF/MC, EV/Revenue, Div Yield); debt burden indicators and risks (Net Debt/EBITDA, Equity/Assets, St Deviation, Beta). The current state of development of the Ukrainian economy requires the use of appropriate analysis tools that allow you to objectively assess the current state of business and assess the dynamics of changes that have occurred before. We have chosen the analysis period from 2013 to 2019 to assess the changes that have taken place during this period, which began in a relatively stable economic situation and escalated into a strong economic crisis caused primarily by events in eastern Ukraine and the annexation of Crimea. The purpose of assessing the state of development and attractiveness of Ukrainian enterprises is to verify the fact of overcoming the active phase of the crisis of 2014-2016. To this end, we focused on the analysis of leading companies in Sumy region, because they had close ties with the Russian Federation, with a rather mediocre level of business development, and therefore may be a kind of indicator of the average state of the national economy. The analysis of companies on the selected key indicators indicates that the crisis has been largely overcome, but a number of indicators of some companies indicate that the crisis began before the tragic events of early 2014.