Beyond the financial performance assessed on the basis of profit and loss account, evaluating a company`s financial leverage is key indicator that investors and creditors are concerned most. It is made from the perspective of its ability to cope with due debts. A situation that was often encountered by companies was insolvency, currently threatening all companies around the world. Considering aforementioned facts, we empirically analyzed 278 manufacturing companies in Uzbekistan over 2018-2021 to identify what external factors are the most affecting companies’ long-term position. Analysis show that among all other factors interest rate, tax burden and overall business environment (proxied by Doing business index) show statistically significant impact on companies longterm financial solvency.