This paper analyses the funding sources of companies that are listed on the Banja Luka Stock Exchange in the period 2016-2017 years. Funding sources were analysed from the aspect of the  indebtedness ratio, the debt structure, the coeffi cient of long-term debt and the coefficient of short-term debt. The survey was carried out on the basis of aggregate financial statements of 421 companies. Based on research results, it can be concluded that enterprises are close to optimal level of indebtedness. The results of the survey indicate that the average indebtedness ratio of companies at the Banja Luka Stock Exchange is 0.43 in 2016 and 0.44 in 2017.