Importance Russian Railways is a natural monopoly (a State-owned joint-stock company). Its responsibility is to ensure the Russian railway functions. The branch has been reformed over last 15 years. The reform focuses on improving the performance indicators of the company's operations, replacement of fixed assets and fundraising for these purposes. Therefore, the analysis of financial potential showing the potential for the development of the holding and the entire branch becomes important. Objectives The objectives of the study are to characterize Russian Railways during the reform, to study its performance ratios and financial condition. Methods In the study, I used various methods like description, regression analysis, and showed the most important performance indicators and relations between them. Results The results include the description of the financial potential of Russian Railways, the analysis of the sources of funding of the investment activities of the company and the economic component of its operations. The findings enable to solve a number of problems and tasks arising in the management system of economic and investment activities of Russian Railways. Conclusions and Relevance As a result of the latest institutional reforms, Russian Railways will face difficulties with financial stability, but the financial potential, which may be characterized as low, does not provide opportunities to improve the situation. The company needs financial support from the Federal budget.
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