Assessment of the financial potential of enterprises in the IT sector in Ukraine

Abstract

The article considers the issue of assessing the financial potential of the IT industry in Ukraine, considered as one of the drivers of economic development in the context of a military conflict and after it. The methodological basis of the study is general and special research methods, including methods of theoretical generalization, analysis, synthesis, comparison, and others. The information base of the study is the data of the State Statistics Service of Ukraine on the performance of enterprises, the main type of which is included in section 62 of the Classifier of types of economic activity «Computer programming, consulting and related activities», during 2013–2020. It was revealed that the average annual growth rate of revenue in the IT industry exceeds the general values for the Ukrainian economy in the period under review. Purpose. The purpose of the article is to assess the financial potential of IT enterprises of Ukraine through the analysis of the dynamics of the development of the industry and its role in the economy, the analysis of the level of return on invested resources and related risks, and through the factor analysis of the return on equity of the enterprises of the industry in order to develop relevant recommendation. Results. On the basis of statistical data on the volume of services sold by enterprises for 2010–2022, the forecast was made for the development of the industry by 2023, including an optimistic one (sales volume at the end of 2023 – UAH 148,09 billion), basic (UAH 129,4 billion) and pessimistic (UAH 110,75 billion) scenarios. The use of statistical tools made it possible to reveal that, compared with the national economy as a whole, the IT industry provides a higher return on investment in equity (estimated through the return on equity of enterprises) with a lower level of risk (estimated through the standard deviation of the return on equity of enterprises). Conclusions. The study of the issue of determining the determinants of the formation of profitability using the DuPont three-factor model, which showed the decisive influence on the return on equity of the return on sales indicator, did not go unnoticed. At the same time, enterprises do not fully use borrowed sources of financing to increase the return on equity.

Keywords

• military conflict
• information technology
• finance
• financial potential
• digital economy