Financial Analysis Tools in the Global Context of Economic Uncertainty

COVID-19 pandemic has seriously affected different economic spheres, including extractive industries and e-commerce companies. The dynamics of stock market has also changed under the influence of pandemic, however the impact of pandemic for stock market was not so devastating like for other spheres. In 2020, Russian stock market began to enjoy high demand both within the country and abroad. The research is devoted to the ratio analysis of companies to assess the macroeconomic dynamics of the market. Certain indicators, the dynamics of which was distinguished by a sharper decrease or increase during the pandemic, were identified in the research. The study focuses on two groups of companies from industries which faced different consequences of the COVID-19 pandemic. The comparative analysis is conducted in five major areas, including profitability, efficiency, solvency, liquidity and market prospects. Several indicators which have multidirectional dynamics for the oil & gas and IT companies were identified in each group. In conclusion of the research a number of indicators are defined as the most effective tools for financial analysis in the context of global uncertainty. EBITM / EBITDA Margin, ROE, ROA were selected from the profitability ratios. Receivables and payable turnover ratios were chosen from the efficiency indicators. Debt to equity ratio, interest coverage ratio and net debt/equity can be considered as an optimal analysis tools from indicators of financial stability. Acid-test ratio and current ratio were selected from the group of liquidity indicators. P/E and ESP ratios seem us to be the most effective of market prospects ratios