Financial stability and profitability of enterprises as indicators of the economic efficiency of Russian livestock subsectors: SPARK data for 2021-2025

Oksana Moshchenko; Alexander Usanov; Svetlana Pavlova; Margarita Rohr

doi:10.55186/25876740_2026_69_6_838

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FINANCIAL STABILITY AND PROFITABILITY OF ENTERPRISES AS INDICATORS OF THE ECONOMIC EFFICIENCY OF RUSSIAN LIVESTOCK SUBSECTORS: SPARK DATA FOR 2021-2025 Financial stability and profitability of enterprises as indicators of the economic efficiency of Russian livestock subsectors: SPARK data for 2021-2025

АА Аа

Published in INTERNATIONAL AGRICULTURAL JOURNAL · Issue 6, 2026 · Pages 838–841 · Rubric: Agrarian reform and forms of managing

DOI: https://doi.org/10.55186/25876740_2026_69_6_838

Received: 12.08.2026 Accepted: 16.09.2026 Published: 15.10.2026

Authors

Oksana Moshchenko

ORCID

Alexander Usanov

ORCID

Svetlana Pavlova

ORCID

Margarita Rohr

ORCID

Oksana Moshchenko

Academic degree: candidate of economic sciences

Financial University under the Government of the Russian Federation associate professor of the department · department of audit and corporate reporting · Russian Federation · Moscow

ORCID

Alexander Usanov

Academic degree: candidate of economic sciences

Financial University under the Government of the Russian Federation associate professor of the department · department of business analytics · Russian Federation · Moscow

ORCID

Svetlana Pavlova

Academic degree: candidate of economic sciences

Financial University under the Government of the Russian Federation associate professor of the department · department of business analytics · Russian Federation · Moscow

ORCID

Margarita Rohr

Academic degree: doctor of economic sciences

University of Valencia associate professor of the department · department of applied economics · Spain

ORCID

ABSTRACT

The article presents a comparative analysis of the financial stability and profitability of Russian dairy cattle, pig, and poultry enterprises. The relevance of the study stems from the fact that aggregated industry-level livestock profitability indicators published by Rosstat do not provide sufficient insight into the financial position of individual organizations or the degree of differentiation within livestock subsectors. The purpose of the study is to identify the specific combinations of profitability and financial stability across individual livestock subsectors and to assess their significance for economic efficiency and the sustainability of subsector performance. The empirical basis comprises a sample of 505 active organizations from three livestock subsectors, formed using data from the SPARK-Interfax information and analytical system for 2021-2025, while Rosstat industry statistics were used to characterize the broader sectoral context. The study calculates median values of return on net assets, the equity-to-assets ratio, the current liquidity ratio, the debt-to-net-assets ratio, and the share of loss-making organizations for each subsector. The results show that dairy cattle farming is characterized by relatively stable profitability and a conservative capital structure; pig farming combines acceptable median profitability with a high share of loss-making organizations and comparatively low current liquidity; poultry farming demonstrates the highest profitability potential together with the greatest amplitude of annual changes: following the improvement observed in 2023-2024, median return on net assets fell to 7.4% in 2025, while the share of loss-making organizations increased to 24.5%. It is concluded that differences in profitability, capital structure, liquidity, and debt burden should be taken into account, when assessing economic efficiency and designing support measures for individual livestock subsectors. The results may be used by lending institutions and public agricultural support authorities for differentiated risk assessment and the allocation of subsidies across livestock subsectors.

KEYWORDS

dairy cattle farming, pig farming, poultry farming, capital structure, leverage, SPARK, agro-industrial complex

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GOST

Moshchenko O. V., Usanov A. Y., Pavlova S. V., Rohr M. Financial stability and profitability of enterprises as indicators of the economic efficiency of Russian livestock subsectors: SPARK data for 2021-2025 // INTERNATIONAL AGRICULTURAL JOURNAL. 2026. no. 6. pp. 838-841. DOI: https://doi.org/10.55186/25876740_2026_69_6_838. (Date of access 29.10.2026).

MLA

Oksana Moshchenko, Usanov A. Y., Pavlova S. V., Rohr M.. "Financial stability and profitability of enterprises as indicators of the economic efficiency of Russian livestock subsectors: SPARK data for 2021-2025." INTERNATIONAL AGRICULTURAL JOURNAL.6 (2026): 838-841. DOI: https://doi.org/10.55186/25876740_2026_69_6_838.

APA

Moshchenko O. V., Usanov A. Y., Pavlova S. V., Rohr M. (2026). Financial stability and profitability of enterprises as indicators of the economic efficiency of Russian livestock subsectors: SPARK data for 2021-2025. INTERNATIONAL AGRICULTURAL JOURNAL(6), 838-841. https://doi.org/10.55186/25876740_2026_69_6_838

Chicago

Oksana Moshchenko, Usanov A. Y., Pavlova S. V., Rohr M.. "Financial stability and profitability of enterprises as indicators of the economic efficiency of Russian livestock subsectors: SPARK data for 2021-2025." INTERNATIONAL AGRICULTURAL JOURNAL, no. 6 (2026): 838-841. https://doi.org/10.55186/25876740_2026_69_6_838.

WIKI

{{cite journal | author = Moshchenko O. V., Usanov A. Y., Pavlova S. V., Rohr M. | title = Financial stability and profitability of enterprises as indicators of the economic efficiency of Russian livestock subsectors: SPARK data for 2021-2025 | journal = INTERNATIONAL AGRICULTURAL JOURNAL | year = 2026 | issue = 6 | pages = 838-841 | doi = 10.55186/25876740_2026_69_6_838 }}

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