ABSTRACT: The technology industry has experienced rapid growth and transformation in recent years, driven by digital innovation and increasing reliance on technology across various sectors. This underscores the importance of the ICT sector in stimulating economic growth and innovation, as well as its significant role in digitalization. Many institutions and researchers have conducted studies to measure the value created by digitalization, but few have emphasized the importance of financial information as a tool for assessing the performance of ICT companies. Therefore, this study aims to evaluate the importance of financial ratios in measuring the performance of ICT companies. This research uses discriminant function analysis to identify the best financial ratios that differentiate the performance of ICT companies based on their credit ratings. The study sample includes 50 US-based companies listed on the US stock market in the ICT group, with 25 companies in each of the Investment Grade and Non-Investment Grade groups. Three financial ratios are most effective in distinguishing performance between these two groups: CFO to Net Sales (X13), Total Debt to Total Assets (X7), and CFO to Current Liabilities (X6). This model has a predictive accuracy of 71.3% during the 2021-2023 period.

KEYWORDS:– ICT Company, Digital Economy, S&P Global, Financial Ratios, Discriminant Analysis