The primary goal of the article is to evaluate the impact of Common Agricultural Policy (CAP) on the profitability of agricultural enterprises in Slovakia. We also analyze the development of Return on Equity (ROE) with and without subsidies on a selected sample of 756 agricultural companies that mean 59 % of all agricultural corporate bodies in Slovakia. We work with the database from The Research Institute of Agricultural and Food Economics (RIAFE) for the period 2000-2006. Since 2004 when Slovakia entered the EU the amount of subsidies has risen, and it still rises. However, it still does not have any positive respond in profitability of agricultural enterprises, and ROE without subsidies is developing negatively. How is it possible? A partial answer to this question can be found in the added value and sales of own products and services.