student
Russian Federation
VAK Russia 5.2.1
VAK Russia 5.2.4
VAK Russia 5.2.5
VAK Russia 5.2.6
VAK Russia 5.2.7
UDC 332
CSCSTI 06.00
Russian Classification of Professions by Education 38.04.01
Russian Library and Bibliographic Classification 65
Russian Trade and Bibliographic Classification 77
BISAC BUS BUSINESS & ECONOMICS
The oil and gas sector remains key to the Russian economy, but the high capital intensity of oil companies limits the applicability of standard methods of coefficient analysis in assessing their effectiveness. A significant share of non-current assets, long investment cycles and large-scale capital investments lead to the fact that traditional indicators of profitability and turnover do not fully reflect the real results of the activities of the companies in the industry. The purpose of the study is to adapt the coefficient analysis to the industry specifics of capital-intensive oil companies. The paper proposes the adjustment of traditional indicators of asset turnover and profitability taking into account capital expenditures and investment lag, as well as the use of an integral indicator of financial stability based on the Altman Z-account. The methodology was tested on the data of the largest Russian oil companies for 9 months of 2025. The results show that the adapted approach allows a more objective assessment of the effectiveness of companies in conditions of high capital intensity and changes in the tax burden
methodology of economic analysis, coefficient analysis, capital intensity, financial efficiency, oil-producing companies, investment cycle, CAPEX
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