Quality of financial growth of the largest companies in the agricultural and natural resource sector of Russia in 2021-2025: empirical analysis based on SPARK data

Oksana Moshchenko; Alexander Usanov; Margarita Rohr

doi:10.55186/25876740_2026_69_5_667

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QUALITY OF FINANCIAL GROWTH OF THE LARGEST COMPANIES IN THE AGRICULTURAL AND NATURAL RESOURCE SECTOR OF RUSSIA IN 2021-2025: EMPIRICAL ANALYSIS BASED ON SPARK DATA Quality of financial growth of the largest companies in the agricultural and natural resource sector of Russia in 2021-2025: empirical analysis based on SPARK data

АА Аа

Published in INTERNATIONAL AGRICULTURAL JOURNAL · Issue 5, 2026 · Pages 667–672 · Rubric: Agrarian reform and forms of managing

DOI: https://doi.org/10.55186/25876740_2026_69_5_667

Received: 14.06.2026 Accepted: 29.07.2026 Published: 15.09.2026

Authors

Oksana Moshchenko

ORCID

Alexander Usanov

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

Margarita Rohr

Academic degree: doctor of economic sciences

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

ORCID

ABSTRACT

The paper examines the problem of assessing the quality of financial growth of the largest companies in Russia’s agricultural and natural resource sector amid structural economic transformation, changes in the external economic environment, rising cost of borrowed capital, and increasing requirements for corporate financial sustainability. The purpose of the study is to develop a methodological approach that makes it possible to assess financial growth not only through revenue expansion, but also through profitability, operating performance, changes in equity, and the state of own working capital. The empirical base of the study consists of SPARK data on 1118 active Russian companies representing 55 types of activities in the agricultural and natural resource sector for 2021–2025. The research methodology is based on comparing the dynamics of revenue, net profit, EBIT, capital and reserves, own working capital, as well as relative indicators of profitability and cost burden. This approach makes it possible to distinguish simple scale-based business growth from high-quality financial growth, in which an increase in turnover is accompanied by maintained profitability, positive operating performance, and strengthening of the company’s own financial base. The paper proposes to consider the quality of financial growth as an integral characteristic combining companies’ performance, sustainability, and reproductive potential. The practical significance of the study lies in the possibility of using the proposed approach to group companies by types of financial growth, identify organizations showing signs of extensive turnover expansion, and determine enterprises that maintain high growth quality through profitability, equity, and stable cash flow. The results obtained may be used in financial analysis of agricultural-sector companies, sectoral monitoring, investment attractiveness assessment, and the development of managerial decisions aimed at improving corporate financial sustainability.

KEYWORDS

quality of growth, net profit margin, EBIT margin, cost of sales, SPARK

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Aleksandr Fomin

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Irina Mamontova

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Tat'yana V. Kazennova

Issue Editor

Gilyana Yakushkina

Literary Editor

Marina G. Fomina

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Moshchenko O. V., Usanov A. Y., Rohr M. Quality of financial growth of the largest companies in the agricultural and natural resource sector of Russia in 2021-2025: empirical analysis based on SPARK data // INTERNATIONAL AGRICULTURAL JOURNAL. 2026. no. 5. pp. 667-672. DOI: https://doi.org/10.55186/25876740_2026_69_5_667. (Date of access 30.10.2026).

MLA

Oksana Moshchenko, Usanov A. Y., Rohr M.. "Quality of financial growth of the largest companies in the agricultural and natural resource sector of Russia in 2021-2025: empirical analysis based on SPARK data." INTERNATIONAL AGRICULTURAL JOURNAL.5 (2026): 667-672. DOI: https://doi.org/10.55186/25876740_2026_69_5_667.

APA

Moshchenko O. V., Usanov A. Y., Rohr M. (2026). Quality of financial growth of the largest companies in the agricultural and natural resource sector of Russia in 2021-2025: empirical analysis based on SPARK data. INTERNATIONAL AGRICULTURAL JOURNAL(5), 667-672. https://doi.org/10.55186/25876740_2026_69_5_667

Chicago

Oksana Moshchenko, Usanov A. Y., Rohr M.. "Quality of financial growth of the largest companies in the agricultural and natural resource sector of Russia in 2021-2025: empirical analysis based on SPARK data." INTERNATIONAL AGRICULTURAL JOURNAL, no. 5 (2026): 667-672. https://doi.org/10.55186/25876740_2026_69_5_667.

WIKI

{{cite journal | author = Moshchenko O. V., Usanov A. Y., Rohr M. | title = Quality of financial growth of the largest companies in the agricultural and natural resource sector of Russia in 2021-2025: empirical analysis based on SPARK data | journal = INTERNATIONAL AGRICULTURAL JOURNAL | year = 2026 | issue = 5 | pages = 667-672 | doi = 10.55186/25876740_2026_69_5_667 }}

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