The sector of agricultural production, whose key carriers are agricultural holdings, plays a very important socio-economic role in the market of the Republic of Serbia. However, in previous years, the business of agricultural farms was not extensively researched from the aspect of profitability, productivity and economic sustainability. This research aims to present previous scientific findings, as well as empirical results of the influence of financial indicators on the profitability of agricultural farms in the Republic of Serbia, by analyzing accounting data from the FADN (Farm Accountancy Data Network) database. The research was conducted on a sample of approximately 500 agricultural farms whose main activity is related to arable farming in the period from 2018 to 2022 in the Republic of Serbia, making total of 2,696 observations. Empirical research was carried out using panel regression analysis. The influence of the drivers of profitability was determined by evaluating the model with fixed effects, and the research results show that there is a positive and statistically significant effect of the land productivity, equity turnover and the rate of subsidies on the profitability expressed through ROA. In addition, the influence of debt-to-asset ratio on profitability is negative and statistically significant, while the liquidity of assets does not have a statistically significant effect. This study can be of great help to agrarian policy makers, as well as the owners of agricultural farms, for the purpose of better understanding the factors affecting the success of business, with the goal of providing enough food, as one of the biggest challenges nowadays.