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General information

Russian Aquaculture PJSC produces and markets salmonids. The Company operates fish farms and markets chilled and frozen salmon and trout. Russian Aquaculture operates numerous areas for commercial aquaculture of salmon and trout on the lakes in Karelia and in the Barents and White Seas.
  • Current market environment: negative. Prices of production are 4.0% lower compared to the last 12 months (LTM)
  • Prices of production are at 70.9% percentile over the past 5 years, adjusted for inflation
  • Dividend yield for the last twelve months 5.8%
  • Free cash flow yield 15.6% (LTM), projected 13.3%
  • Share of USD-denominated sales in revenue of the company (estimate) ≈ 100.0%
  • Share price is 66.1% higher than minimum and 33.8% lower than maximum for the last 3 years
  • The company is undervalued by EV / LTM EBITDA multiple compared to target level (4.8x vs
    )
  • The company is overvalued by EV / projected EBITDA multiple compared to target level (
    vs
    )
  • Taking into account the impact of the key rate 21% on the change in financial parameters: EBITDA adjustment is -307 mln rub as NetDebt * (current key rate - normalized 7%) / 2, expected EBITDA adjusted for key rate increases is 11 945 mln rub, expected mult is 5.5x, target mult is 5.2x, potential is -5.2%

Key Financials (Download financials)

Ticker: AQUA
Share price, RUB:  (-2.2%)695
year average price 727.80  


year start price 891.50 2024-03-14

max close price 964.50 2024-04-01

min close price 524.50 2024-12-16

current price 699.00 2025-03-13
Common stocks: 87 880 000
Dividend Yield:  5.8%
FCF Yield LTM / expected: 15.6% / 13.3%
EV / LTM EBITDA: 4.8x
EV / EBITDA annualized: 4.6x
Production prices change from LTM: -4.0%
EV / projected EBITDA:
Target EV / EBITDA (hist percentile):
Express share price potential:
EV / LTM EBITDA mutiple calculation
Market Cap (m RUB): 61 077
Net Debt (m RUB): 6 193
EV (Enterprise Value): 67 270
EBITDA LTM (m RUB): 13 961
Net Income LTM (m RUB): 5 417
EV / LTM EBITDA: 4.8x
Average daily trading volume for the week, RUB mln: 68
P / E 11.3x
P / B 1.2x

Revenue and EBITDA

Semi-Annual values (m RUB)

Change (y/y)

Cash Flow

FCF (m RUB), before FX effects elimination

Net Debt / Cash and Equivalents (m RUB)

Share price and dividends (Download history)

Share price

Payment RUB per share

Multiple and potential

EV / LTM EBITDA and 50% percentile

Potential dynamics

Daily trade volumes

Millions of RUB

P/B and P/E multipliers

P / B

P / E

More information for subscribed users:
detailed calculation of
Potential and Created Value,
commodities affecting the company