In the financial and economic analysis of an enterprise, there are two main groups - absolute and relative indicators. Absolute indicators include revenue, sales volume and profit. Analysis of these indicators does not allow for a comprehensive assessment economic activity enterprises.

For a more complete picture, use relative indicators - coefficients financial stability, liquidity and profitability. Relative measures are also more useful when comparing multiple organizations.

What is return on assets of an enterprise and what does it show?

Return on assets (ROA – returnonassets) is an indicator that reflects the efficiency of using assets. There are 3 types of return on assets:

• return on non-current assets (ROA ext);
• return on current assets (ROA);
• return on assets (ROA).

Non-current assets (NCAs)- this is the property of the enterprise, reflected in the first section of the balance sheet for medium-sized enterprises and in lines 1150 and 1170 for small enterprises. Non-current assets are used for more than 12 months, do not lose their technical properties during operation and transfer their value in parts to the cost of manufactured products (services provided, work performed).

Non-current assets include:

• fixed assets (buildings, structures, equipment, tools, inventory, power lines, transport, etc.);
• intangible assets (rights, patents, licenses, trade marks, business reputation and etc.);
• long-term financial investments (investments in other organizations, long-term loans (more than 12 months), etc.).
• other.

Non-current assets can be divided into 3 groups:

• material: fixed assets,
• intangible: intangible assets,
• financial: financial investments.

Current assets (OBA)- this is the property of the enterprise, reflected in the first section of the balance sheet for medium-sized enterprises and in lines 1210, 1230 and 1250. Current assets are used for less than 12 months or one production cycle (if it lasts more than one year), immediately transfer their value to cost manufactured products (services provided, work performed).

Current assets include:

• working capital in inventories and work in progress;
• VAT on purchased assets;
• accounts receivable;
• short-term financial investments;
• cash and cash equivalents.

Current assets can be divided into 3 groups:

• material: stocks,
• intangible: accounts receivable, cash and cash equivalents,
• financial: value added tax (VAT) on acquired assets, short-term financial investments (except for cash equivalents).

The total amount of assets of an enterprise can be found by adding the values ​​of non-current and current assets.

Return on assets calculation formula

IN general view The formula for calculating return on assets is as follows:

ROA=(PR/A avg)*100%

ROA=(NP/A avg)*100%

Return on assets shows how many kopecks of profit from sales or net profit will be brought by one ruble invested in the assets of the enterprise. Return on assets also reflects the ability of assets to generate profit.

The amount of profit from sales can be found in the report on financial results(profit and loss) or calculated using the following formula:

where TR (totalrevenue) is the company’s revenue in value terms, TC (totalcost) is full cost. Revenue (TR) can be found by multiplying sales volume (Q - quantity) by price (P - price): TR=P*Q.

The total cost (TC) can be found by adding up all the costs of the enterprise: materials, components, wages workers and administrative and managerial personnel, depreciation charges, expenses for public utilities, security and safety, general workshop and factory expenses, etc.

The amount of net profit can be found in the income statement (profit and loss) or calculated using the following formula:

PE=TR-TC-Pr+PrD-N,

where PrR – other expenses, PrD – other income, N – amount of accrued taxes. Other income and expenses include, respectively, receipts or expenses not related to the main activities of the organization, among them - exchange rate differences, the amount of revaluation/depreciation of assets.

The amount of assets must be taken from the balance sheet.

Formula for calculating the balance sheet of an organization

For medium-sized enterprises, it is necessary to calculate the arithmetic average first from the values ​​of line 190 (Total for section I) - you get the average annual value of non-current assets (VnA avg), and then from the values ​​of line 290 (Total for section II) - you get the average annual value of current assets (AvA avg ).

For small enterprises, it is necessary to calculate the arithmetic average first from the values ​​of lines 1150 (Tangible non-current assets) and 1170 (Intangible, financial and other non-current assets) - you will get the average annual value of non-current assets (INA avg).

Then from the values ​​of lines 1210 (Inventories), 1250 ( Cash and cash equivalents) and 1230 (Financial and other current assets) - you get the average annual value of current assets (OBA avg).

VnA sr = VnA np + VnA kp,

where VnA np is the value of non-current assets at the beginning of the current (end of the previous) period, VnA kp is the value of non-current assets at the end of the current period.

ObA av = ObA np + ObA kp,

where ObA np is the value of non-current assets at the beginning of the current (end of the previous) period, ObA kp is the value of non-current assets at the end of the current period.

A avg = BnA avg + Both avg.

for non-current assets – ROA ext = PR/InA avg;

for current assets – ROA ext = PR/OBA avg

Standard values

Standard values ​​for return on assets vary depending on the specifics of the enterprise's activities. The table shows the standards for the main types of economic activities.

It's obvious that trade Organization will have the highest return on assets compared to other types of activities, since this organization has a low value of non-current assets.

A production organization, having a large amount of non-current assets due to equipment, will have average profitability. Financial institution operates in a highly competitive environment, so the profitability standard is relatively low.

In general, the return on assets indicator is important for analyzing the financial and economic activities of an enterprise and comparing it with other organizations. Return on assets shows the efficiency of using non-current and current assets.

Video showing how to compare two companies on this indicator:

Return on assets (ROA)- an indicator of the effectiveness of the use and distribution of current and non-current assets of the enterprise. This coefficient allows you to assess a company's ability to make a profit without taking into account financial leverage(ratio of loan and equity capital). Return on assets gives an idea of ​​the rational use of all assets of the enterprise (in contrast to return on capital, which characterizes only own funds), and its calculation is more relevant for managers than for investors. The ROA index allows you to analyze the financial reliability, creditworthiness, and investment attractiveness of an organization by calculating the amount of profit for each invested monetary unit.

Return on assets (formula)

Return on assets is the product of net income and total assets:

The net profit indicator is located in the income statement, the value of assets is in. To reduce calculation errors, the average annual value of assets is substituted into the return on assets formula: (cost at the beginning + cost at the end of the reporting period) / 2.

Return on assets is also defined as the product of net profit and interest payments per unit minus the tax rate:

The formula clearly shows that in addition to net profit, the calculation takes into account interest on the use of borrowed funds. This suggests that when forming long-term assets, both equity and loan capital are used, and both are taken into account when calculating ROA.

Standard value of ROA indicator

The profitability ratio directly depends on the area of ​​activity of the organization. Thus, in heavy industry the indicator will be lower than in the service sector, since enterprises of the latter need less investment in working capital. In general, return on assets reflects the effectiveness and profitability of asset management, and therefore the higher it is, the better. If the ratio begins to decline, then one of the assets (non-current or current) does not make a sufficient contribution to the organization’s income. High rate return on assets indicates that the company is creating more income with less quantity

What are the assets of an enterprise, we told in. How to evaluate the efficiency of asset use? We'll tell you in this article.

Return on assets indicators

Return on assets shows how effectively an organization uses its assets. Since the main goal of an organization is to generate profit, it is profit indicators that are used to assess the efficiency of asset use. Return on assets characterizes the amount of profit in rubles that brings 1 ruble of the organization's assets, i.e. return on assets is equal to the ratio of profit to assets.

Naturally, a decrease in return on assets indicates a drop in operating efficiency and should be considered as an indicator signaling that the work of the company's management is not productive enough. Accordingly, an increase in return on assets is considered a positive trend.

For the purpose of calculating return on assets, net profit is often used. In this case, the return on assets ratio (K RA, ROA) will be determined by the formula:

where P P is net profit for the period;

A C is the average value of assets for the period.

For example, the average value of assets for the year is the sum of assets at the beginning and end of the year divided in half.

By multiplying the KRA ratio by 100%, we obtain the return on assets ratio as a percentage.

If instead of net profit you use the profit before tax indicator (P DN), you can calculate the return on total assets (P SA, ROTA):

And if in the above formula, instead of the total amount of assets, we use the indicator net assets(NA), you can calculate not the total return on assets, but the return on net assets (R NA, RONA):

Of course, profitability is calculated not only on assets. If we relate profit to assets, we calculate return on assets, return on sales is calculated as the ratio of profit to revenue. At the same time, in addition to the profitability of assets, the efficiency of their use also speaks.

Return on assets ratio: balance sheet formula

When calculating return on assets ratios, data is used accounting or financial statements. Thus, according to the balance sheet (BB) and the financial results statement (OFR), the return on assets ratio will be calculated as follows (Order of the Ministry of Finance dated July 2, 2010 No. 66n):

where line 2400 OP OFR is net profit for the reporting period, reflected in line 2400 of the financial results report;

line 1600 NP BB - the amount of assets at the beginning of the period, reflected on line 1600 of the balance sheet;

line 1600 KP BB - the amount of assets at the end of the period, reflected on line 1600 of the balance sheet.

When analyzing the financial and economic activities of an enterprise, it is necessary to consider absolute and relative indicators. Absolute indicators are sales volume, revenue, expenses, loans, profit, etc. Relative indicators allow the company to conduct a more accurate analysis of the current financial condition of the organization. One of these criteria is the return on assets ratio (RA).

Return on assets characterizes the efficiency of their use by the enterprise and the impact they have on the rate of profit. Return on assets shows how much profit the organization will receive for each unit of ruble invested in the active component. RA illustrates the ability of capital assets to create profits.

Return on assets is divided into three interrelated indicators:

• ROAvn - Non-current assets ratio;
• ROAob is an indicator for current assets;
• ROA - return on total assets (total).

Non-current assets are the property of an organization, which is reflected in section I of the balance sheet for medium-sized enterprises, and in balance sheet lines 1150 and 1170 for small institutions. Non-current assets can be used by an organization for a period of more than 1 year. They do not lose their technical properties and quality characteristics during operation and partially transfer the cost to the cost of manufactured goods. Non-current assets are tangible, intangible and financial.

Current assets are property that is included in section I of the balance sheet for medium-sized organizations, and in balance sheet lines 1210, 1230 and 1250 for small ones. Current assets are subject to use in a period of less than one year or production cycle and immediately transfer the cost to the cost of products produced by the enterprise. BOTH are also divided into tangible (inventories), intangible (accounts receivable) and financial (short-term investments).

Total assets are the combined value of SAI and BOTH.

How to calculate the coefficient

The general calculation formula is as follows:

To calculate the return on assets ratio, the net profit indicator is often used. You can also use the pre-tax profit option in the calculation and calculate return on total assets (ROT). Profitability formula:

RSA = PDN / Ac,

• PDN - profit before tax;
• Ac is the average value of property assets for the reporting period.

Return on net assets (NA) is calculated using the following formula:

RFA = PDN/CA.

When calculating the PA coefficient, you can also use information from accounting and financial statements as of the current date. According to Order of the Ministry of Finance No. 66n dated July 2, 2010, the return on assets ratio can be calculated using data from the balance sheet and financial statements.

Return on assets - balance sheet formula:

KRA = line 2400 OP OFR / (line 1600 NP BB + line 1600 KP BB) / 2,

• page 2400 OP OFR - PC for the reporting period;
• line 1600 NP BB - the value of assets at the beginning of the period;
• p. 1600 KP BB - indicator at the end of the period.

ROAvn is also calculated based on the balance sheet values ​​and is obtained from the ratio of the profit for the reporting period and the total of Section I (line 1100) of the balance sheet.

Profit is taken from lines 2400 (PF) or 2200 (from sales) of the income statement.

ROA is also calculated by the ratio of profit from the income statement and the average cost of OBA. If it is necessary to calculate profitability for all indicators, then the final line of section II of the active part of the balance sheet is taken for the calculation. In the case when it is necessary to calculate a specific type of OBA, the information is found from the corresponding line of Section II of the balance sheet.

How to parse values

RA is an important tool not only for analysts and financiers who calculate indicators for the effective increase in capital and profit in a company, but also for accountants. A correctly calculated coefficient shows the real current financial condition enterprises, which is the most valuable information for inspection authorities (Order of the Federal Tax Service No. MM-3-06/333@ dated May 30, 2007). The standard value for the RA index is greater than zero. Deviation from the norm is established for each industry separately (clause 4 of the Order of the Federal Tax Service No. MM-3-06/333@ dated May 30, 2007). However, according to general rule It is believed that a deviation exceeding the average industry standard by 10% or more is critical, that is, the financial and economic activities of the institution are problematic and are at a loss.

Calculation example

Let's calculate the KRA for non-profit organization"Strength" for 2017.

To do this, we need data from the balance sheet:

• net profit for the reporting period (line 2400 of the financial results statement) - 320,000 rubles;
• the amount of active funds at the beginning of the period (line 1600 NP BB) - RUB 4,100,000.00;
• similar value at the end of the period (line 1600 KP BB) - RUB 5,300,000.00.

Thus, KRA = 320,000.00 / (4,100,000 + 5,300,000) / 2 = 320,000.00 / 4,700,000.00 = 0.068 × 100% = 6.8%.

The industry average CRA is 5%. Thus, the NPO “Strength” operates successfully and has high returns (efficiency) from its financial and economic activities.