Intellectual Capital (IC) has been argued to be the key element of value creation in the contemporary economy, and this argument has been widely supported by empirical research, but mainly based on the data from developed markets. The questions of how IC and its elements work in emerging markets remains under-researched, and limited empirical evidence that exists contrasts the conclusions drawn from developed countries. The aim of the study is to provide empirical insight into the interaction between three main elements of IC (human, relational and organizational) and organizational performance of Russian companies. The sample includes 240 Russian manufacturing companies. The data is collected with the survey using the scales that have been already validated in international context. We use a two-step analysis - factor and regression analysis - to answer the research questions. The core managerial implication of this study is defining the key IC elements that influence company financial performance. We also reveal which interactions between the elements helps to increase financial results of Russian manufacturing companies. The paper contributes to further development of intellectual capital theory by investigating its application in a new institutional and cultural context of Russia.