APPLICATION OF THE ADAPTED SHARPE RATIO IN THE EXPRESS ANALYSIS OF THE FINANCIAL STATEMENTS OF THE ENTERPRISE

The presented article proposes to adapt the classical Sharpe ratio, widely used in investment analysis, to the tasks of express analysis of the accounting (financial) statements of the enterprise. The rationale and formulas for the adapted indicator reflecting the economic meaning of the risk-oriented assessment of the company’s performance are provided. An express analysis of the financial results of a specific enterprise for three years was carried out using the proposed indicator, a short-term forecast of key financial indicators was made and, based on the Sharpe ratio for the next year, a comparison of the forecast value with the actual one was made. Using the example of the financial statements of Altura Group LLC for 2022–2024, the adapted Sharpe ratio was calculated and an express analysis of the dynamics of key indicators — revenue and net profit — was carried out from the standpoint of the “return / risk” ratio. It was found that the company’s activities are characterized by extremely volatile revenue with low marginality, which determines the low value of the Sharpe ratio. Based on the identified dynamics, a forecast of the indicators for 2025 was made using a simple linear model; the forecast results are compared with previous periods. In conclusion, the feasibility and limitations of using the adapted Sharpe ratio for assessing the financial condition of an enterprise are briefly discussed.