American Journal of Business Management, Economics and Banking 
ISSN (E): 2832-8078                        Volume 25, | June - 2024                               

 

 
P a g e  | 96  www.americanjournal.org 

METHODOLOGICAL BASIS FOR EVALUATING THE INVESTMENT 

POTENTIAL OF FOOD INDUSTRY ENTERPRISES 

Ismailov Akmal Maksudovich 

Professor of Tashkent Dalat University of Economics, (DSc) 

 

A B S T R A C T K E Y W O R D S 

The article examines one of the main economic categories - 

investment potential. In particular, the essence of the concept of 

food industry enterprises is revealed and the need for a 

comprehensive review from the point of view of food industry 

enterprises carrying out investment activities is shown. The 

investment potential of food industry enterprises is defined and 

the factors forming it are formed. 

 

Food industry, investment 

potential, investment resources, 

financial potential, production 

potential, labor potential, 

innovation potential, marketing 

potential, potential potential, 

management potential. 

 

Introduction 

In modern conditions, the food industry plays an important role in meeting the basic needs of the 

population and at the same time providing necessary products. Food industry enterprises are a set of 

enterprises engaged in the production of food products in the form of finished products and semi-

finished products, including various beverages and tobacco products. It is defined as the food 

manufacturing industry, which also includes the production of food products, beverages and tobacco 

[1]. 

The investment potential of the enterprise is determined by the amount of investments that can be 

attracted through external and internal financing sources. It is also the ability of the enterprise to 

implement a set of investment measures to create additional financial flows by attracting existing 

resources to increase the value of the investment object. They are also used to create investment 

portfolios, implement investment projects or individual investment operations. Investment potential is 

formed by the enterprise by gradually accumulating investment opportunities that cannot be 

implemented immediately. The main factor affecting the formation of investment potential is the 

profitability of investments that the enterprise is able to make. That is, if the company has profitable 

investment opportunities, investors will be happy to invest in the company in order to increase their 

money. 

The assessment of investment potential includes the financial, economic and quality characteristics of 

the enterprise, including: 

- economic potential, efficiency of asset use and material, labor, financial and intellectual resources 

involved in business; 

- the volume of already attracted investments and their real income in the form of growth, the number 

of employees, tax revenues; 



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- level of financial independence and liquidity of the enterprise; 

- level of competitiveness of the enterprise; 

- the position of the enterprise in the BCG matrix; 

- the property value of the enterprise and the level of market share; 

- land, natural and intellectual rent, reputation of the enterprise, level of financial leverage; - level of 

cash flow; 

- indicators of entrepreneurship and investment activity in the market. 

The characteristics of the second group include: 

- organizational and legal status; 

- rating level of the enterprise in the investment market; 

- availability of anti-crisis programs, marketing and financial market strategies, assessment of product 

life cycle level; 

- SWOT analysis of the company's management, product or service; 

- availability of specialists with experience in financial and investment management, risk managers, 

working with foreign partners in the management system. 

 

Research Methodology 

Summing up from the definitions given above, we need to calculate a number of economic indicators 

of these enterprises in the evaluation of the activities of food industry enterprises and, on this basis, to 

select the most important indicators that make up the investment potential of enterprises, create an 

integral indicator of the investment potential of the enterprise. can be done. The methodology for 

determining the investment potential of food industry enterprises proposed by us is required to be 

evaluated and determined by dividing it into the following groups of potential indicators (Fig. 1). 

As indicators of the investment potential of food industry enterprises, there are such types as indicators 

of financial potential, indicators of production potential, indicators of labor potential, indicators of 

innovative potential, indicators of marketing potential and indicators of potential investment potential. 

includes. 

 

 

 

 

 

 

 

 

 

 

 

Figure 1. Indicators of investment potential of food industry enterprises. 

 

A set sequence of quantitative and qualitative assessment of the efficiency of the enterprise's resources 

is necessary, because "the main production funds undergo wear, renewal, replacement and other 

changes and serve as a basis for the selection of materials for production"[2].At the final stage, financial 

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resources are analyzed, because their availability (sufficiency) affects the volume of investments in the 

development of the production and technical base, improvement of personnel composition and 

motivation, measures and projects aimed at saving resources. The methodology for determining the 

investment potential of food industry enterprises is reflected in the tables below, in which it is 

recommended to use the standard values of indicators of the investment potential of food industry 

enterprises. In order to assess the level of investment potential of food industry enterprises, it is 

necessary to draw up a comparative table describing the level of the values of the coefficients obtained 

in the calculations using the data of this table. 

 

Analysis and Results 

When determining the indicators of the investment potential of food industry enterprises, the indicators 

of financial potential, which are its components, are used as solvency ratio, financial stability ratio, 

current liquidity ratio, return on private capital, return on debt, return on sales, economic The method 

of determination through indicators such as profitability, capital turnover ratio, credit turnover ratio 

was proposed by economists (Table 1).  

Table 1. Indicators of financial potential of food industry enterprises 

 

1.  Financial stability coefficient K2=
D+R

X
 D-revenues, R-reserve capital, X-expenses 

2 Current liquidity ratio K3=
PM+MQk+DQs+TMZ

Mkm
 

PM- funds of the enterprise, MQq - short-term financial 

investments, DQs - net receivables, TMZ - commodity 

material reserves, 

µm-short-term liabilities of the enterprise. 

3 Return on equity K4=Sf/ No Yes- average annual cost of private capital 

4 
Loan funds 

profitability 
Q5=(White/Qm) 

White-borrowed funds;Qm-totallong and short term 

debtfunds 

5 Profitability of sales K6=StF/T Stf- profit from sale,T-sale proceeds 

6 Economic profitability K7=SF/A Sf- net profit,A-total assets 

7 Capital turnover ratio K8=T/A T-sale proceeds, A- total assets 

8 
Accounts payable 

rotation coefficient 
K9=Mt/Kq 

Mt -cost of goods sold; Kq is the average annual cost of 

payables 

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1 
Coefficient of financial 

independence 
Kmm=M/A M- total liabilities, A- total assets 

2 
Assets 

Profitability coefficient 
Ar=Sf/ No Nope- average annual value of assets 

3 
Financial autonomy 

coefficient 
Ak= Xk/A xk-private capital; A-total assets. 

4 Active working capital ratio Fm=(Ja-Jm)/A 
Yes -current assets; 

Jm -current liabilities 

5 
Accounts receivable 

rotation coefficient 
Dak= Tm/Dk dk -average annual value of net receivables 

6 Efficiency coefficient Fk=Fj/Fo 
Fj-net profit received in the current period; 

Fo-net profit earned in the previous period. 

7 
Efficiency coefficient of 

activity 

Mm.k= (DY.j/Xj.j)/ 

(DY.o/Xj.o) 

DY.j-gross income of the enterprise in the current 

period; Xj.j-total expenses of the enterprise in the 

current period; DY.o- the gross income of the enterprise 

in the previous period; Xj.o - total expenses of the 

enterprise in the current period. 

In addition to these indicators, in our opinion, it is appropriate to determine the indicators of the 

financial independence coefficient, the asset profitability coefficient, the financial autonomy 



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coefficient, the active working capital ratio, the receivables turnover ratio, the profitability coefficient 

and the profitability coefficients of the activity. 

When determining the main production capacity indicators, which are the components of the 

investment potential of food industry enterprises, we suggest determining them through the coefficient 

of return on capital, the coefficient of serviceability of fixed assets, and the coefficient of capital 

capacity (Table 2). 

Table 2 

 
 2. Indicators of the main production capacity of food industry enterprises 

 No Indicator name Calculation method The content of conditional characters 

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1
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] 1 Fund return ratio Fk=Hx/No 

Huh –volume of provided services; Voq is the average 

annual cost of fixed assets 

2 
Availability ratio of fixed 

assets 
Yak=Qq/Bq 

Qq-residual value of fixed assets; Bq- initial value of fixed 

assets. 

3 Stock capacity ratio Fs=Voq/Xh 
Huh –volume of provided services; Voq is the average 

annual cost of fixed assets 

 

Food industrymethodological approach to determining the labor potential of enterprisesIt is presented 

in Table 3. 

The composition of the enterprise's labor potential includes social, functional, demographic, 

professional, professional and other characteristics of groups of workers (Table 3). In determining the 

indicators of the labor potential of food industry enterprises, the productivity of workers and 

employees, the level of education of workers and employees, the coefficient of age indicators of 

workers and employees, the coefficient of indicators of work experience of workers and employees, 

the coefficient of dissatisfaction of workers and employees methods of detection were used. Usually, 

the professional and skill potential of the organization is evaluated by the age structure, length of 

service, the level of knowledge of the employees and the efforts of the organization to increase the 

professional training of the employees.[3]. 

Table 3 

 
 3. Indicators of labor capacity of food industry enterprises 

 No Indicator name Calculation method The content of conditional characters 

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1 
Labor productivity of 

workers and employees (%) 

Po = (Rr1 + Rr2 + ... + 

Rrn)/ n 
Rrn - activity of the employee during the reporting period 

2 
Education level of workers 

and employees (%) 
Uv = Chvo / Chpers 

Chpers-the total number of workers and employees, 

Chvo -number of employees with higher education 

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1 
Coefficient of age indicators 

of workers and employees 
Yes.k=Yes/I 

Yes.k-age ratio of workers and employees; Iyo.-the number 

of workers and employees of a certain age 

2 

Coefficient of indicators of 

work experience of workers 

and employees 

Is.k=Is/I  

Is.k-length of service of workers and employees; Is.-the 

number of workers and employees with a certain length of 

service. 

3 Dissatisfaction coefficient Qiq=Rib/Rs 
Rib -number of layoffs; Rs is the number of employees on 

the list 

4 
Coefficient of real income of 

workers and employees 
RDk=RDj/RDo 

RDj-the value of the real income of workers and employees 

in the current period; RDo- value of real income of workers 

and employees in the previous period. 

5 
Unemployment rate of 

workers and employees 
IXb.k= IXj/ IXo 

IXj –workers and employees in the current periodnumber; 

Rs -workers and employees in the pastthe number 



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A component of the investment potential of food industry enterprisesThe next type of potential is 

innovation potential in its definitionby local economist EBIskandarovusing such indicators as the 

scientific and research potential of the enterprise, the technical potential of the enterprise, the potential 

of the effectiveness of innovations, the potential of the impact of innovations on the standard of livingof 

enterprisesit is necessary to determine the innovative potential [5]. 

Table 4 

  4. Indicators of innovation potential of food industry enterprises 

 No Indicator name Calculation method The content of conditional characters 

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1 

Research potential of the 

enterprise 

If.u=Ii.f./ I If.u-the share of workers and employees engaged in 

scientific activity; Ii.f.- the number of workers and 

employees engaged in scientific activity. 

2 Ii.u=Ii.d./I 

If.u-share of workers and employees with academic 

degrees; 

II.f.-the number of workers and employees with academic 

degrees. 

3 Ti.u=Ti.i/H 

Ti.u-share of scientific research works; 

Ti.i-volume of scientific research works; 

H-total production volume. 

4 

Technical potential of the 

enterprise 

Kya=Qk/Qb 
Kya- the adequacy ratio of fixed assets; Qk-residual index 

of basic funds; Qb-initial index of basic funds 

5 Qk=Ab-Ay 

Ltd- balance index of fixed assets; 

Ab-initial value of amortization allowances; Ay- 

accumulated value of amortization allowances. 

6 Aya=Ak/Ao 

Aya- the renewal coefficient of fixed assets; Investment 

value of fixed assets; The value of fixed assets at the end of 

the period. 

7 Xi.k=Xt.i/Xa.i 

Hi.k-Innovation spending coefficient; Expenditures on 

technological innovations; Xa.i-total costs incurred for 

applied research and development. 

8 Xa.k=Xa.i/Xj 

X.k- the ratio of costs incurred for practical research and 

development; Xa.i-expenditures for public research and 

development; Xj-total expenses. 

9 

The potential of innovation 

effectiveness 

Iu=Ih/Ih 
Iu-share of investments in innovation; The volume of 

investments; Ih-production volume. 

10 Im.u=Im/Mya 

Im.u-share of innovative products in created products and 

services; 

Im- quantity of innovative products; 

Mya-total products and services created. 

11 

Impact potential of 

innovations on standard of 

living 

Xi.t=It.x/I 
Xi.t-share of innovative goods and services per employee; 

it.x-quantity of innovative goods and services. 

The next type of potential, which is a component of the investment potential of food industry 

enterprises, is the marketing potential, and we propose to determine it based on the use of such 

indicators as the market share coefficient, the sales coefficient of goods, the coefficient of marketing 

staff and the coefficient of marketing expenses ( Table 5). 

 



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Table 5 

  5. Indicators of marketing potential of food industry enterprises 

 No Indicator name Calculation method The content of conditional characters 

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1
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bms -the value of the product sold in a particular 

market; 

Jst -total cost of goods sold 

2 Marketer staff ratio Xm.k=Xm/Xj 
hmm-Number of marketer employees; Xj- Total 

number of employees. 

3 Marketing expense ratio Mx.k=Mx/Ux 
Mx-Cost of marketing expenses; Cost of general 

expenses. 

 

When determining the potential potential, which is a component of the investment potential of food 

industry enterprises, it is proposed to look at it as a combined general indicator of all types of structural 

potential. In particular, it is proposed to look at the quality of the overall integral indicator of the 

probable financial potential coefficient, the probable main production potential coefficient, the 

probable marketing potential coefficient, the probable labor potential coefficient, the probable 

innovative potential coefficient and the probable investment potential coefficient (Table 6). ). 

Table 6 

6. Potential investment potential of food industry enterprises 

 No Indicator name Calculation method The content of conditional characters 

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1 
Probable financial capacity 

coefficient 

ESm = 

∑(Ms1+...Msn)/n 

ESm - coefficient of possible financial potential; 

Ms-financial potential coefficient; 

n- average number of soi. 

2 
Probable capital capacity 

ratio 

ESak = 

∑(Aks1+...Aksn)/n 

Yes- potential production potential coefficient; 

Aks- basic capital capacity coefficient; 

n- average number of soi. 

3 
Probable marketing potential 

coefficient 

ESmr 

=∑(Mars1+...Marsn)/n 

ESmr- potential marketing potential coefficient; 

Mars- coefficient of marketing potential; 

n- average number of soi. 

4 
Probable labor capacity 

coefficient 

ESmh 

=∑(Mehs1+...Mehsn)/n 

ESmh- coefficient of potential innovative potential; 

Mehs-labor capacity coefficient; 

n- average number of soi. 

5 

Probable innovative potential 

coefficient 

 

ESi =∑(Ins1+...Insn)/n 

ESmh- potential innovative potential coefficient; 

INs - innovation potential coefficient; 

n- average number of soi. 

According to it, as a result of the research conducted, it is possible to distinguish the types of potential, 

such as financial potential, production potential, labor potential, innovative potential, marketing 

potential, potential potential and management potential, as the constituents of the investment potential 

of the food industry enterprise. In determining the management potential of the enterprise, the utility 

coefficient is probablemethods of determination such as capacity coefficient, labor productivity, 

coefficient of real income of workers and employees, unemployment coefficient of workers and 

employees were used (Table 7). 

 

 



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Table 7 . Management capacity 

 No Indicator name Calculation method The content of conditional characters 

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1 Efficiency coefficient Fk=Fj/Fo 
Fj-net profit received in the current period; 

Fo-net profit earned in the previous period. 

2 
Probability management 

capacity coefficient 

IMb =(M1.2/M1.1+ 

M2.2/M2.1 ...+ 

Mn.2/Mn.1)/n 

Imb- coefficient of possible management potential; 

Mn.1 - amount of interest; n is the number of interests. 

3 
Efficiency coefficient of 

activity 

Mm.k= (DY.j/Xj.j)/ 

(DY.o/Xj.o) 

DY.j-gross income of the enterprise in the current 

period; Xj.j-total expenses of the enterprise in the 

current period; DY.o- the gross income of the 

enterprise in the previous period; Xj.o - total expenses 

of the enterprise in the current period. 

4 
Coefficient of real income of 

workers and employees 
RDk=RDj/RDo 

RDj-the value of the real income of workers and 

employees in the current period; RDo- value of real 

income of workers and employees in the previous 

period. 

5 
Unemployment rate of 

workers and employees 
IXb.k= IXj/ IXo 

IXj –workers and employees in the current 

periodnumber;Rs is the number of workers and 

employees in the past period. 

 

In all tabular data giventhe level of investment potential of food industry enterprisescalculation 

methods are presented. As a result of his researchinvestment potential of food industry enterprisesas 

the founders, it is possible to distinguish indicators of the types of potential, such as financial potential, 

basic capital potential, marketing potential, labor potential, innovative potential, potential investment 

potential. 

 

Conclusions and suggestions 

Therefore, in our opinion, it is necessary to have a single normative coefficient that determines the 

level of investment potential of food industry enterprises. In our opinion, it is possible to determine 

this indicator, which means that all indicators that make up the investment potential are expressed 

through a common integral coefficient. 

INVo =( Ms* Ichs*INs* Mehs*Mars* ESin* Bs)/7 

Here: INVo - the integral coefficient of the level of investment potential of food industry enterprises; 

Ms – coefficient of financial potential of food industry enterprises; 

Ichs is the coefficient of basic capital capacity of food industry enterprises; 

INs - coefficient of innovative potential of food industry enterprises; 

Mehs - coefficient of labor capacity of food industry enterprises; 

Mars – coefficient of marketing potential of food industry enterprises; 

ESin - coefficient of possible investment potential of food industry enterprises; 

Bs is the coefficient of management capacity of food industry enterprises. 

Based on this formula, the single value of the level of investment potential of food industry enterprises 

is created. In conclusion, it can be said that a single indicator should be used to express the level of 

investment potential of food industry enterprises, and through this indicator it will be possible to get 

an idea of the general economic development and investment situation of the enterprise. . 

 
1 Developed by the author 



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