Enhanced Investments - Financial Portal

2025-08-28

#AFKS #reports

Sistema reported for 2025 q2:
- Revenue +6.3% YoY (vs +8.4% in previous quarter and historical rate +14.3%)
- EBITDA +5.4% YoY (vs +20.9% in previous quarter and historical rate +7.0%)
- Net Income -2106.1% YoY (vs -1958.6% in previous quarter and historical rate -351.0%)
- EBITDA margin 30.1% decreased compared to 30.4% same period last year
- Net Debt decreased by 449.8 bln rubles since the previous report (284.3% of market cap)
- FCF (LTM) +216.8 bln RUB (positive), 137.0% of market cap
- EV/EBITDA multiple is 4.3x compared to historical level (50th percentile) of 7.6x

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2025-08-28

#ELMT #reports

Element reported for 2025 H1:
- Revenue -18.9% YoY (vs +35.1% in previous half-year and historical rate +22.7%)
- EBITDA -35.8% YoY (vs +22.9% in previous half-year and historical rate +34.3%)
- Net Income -47.3% YoY (vs +132.7% in previous half-year and historical rate +131.0%)
- EBITDA margin 22.3% decreased compared to 28.2% same period last year
- Net Debt decreased by 32.2 bln rubles since the previous report (48.4% of market cap)
- FCF (LTM) +19.3 bln RUB (positive), 29.0% of market cap
- EV/EBITDA multiple is 6.2x compared to historical level (50th percentile) of 8.7x

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2025-08-28

#GEMC #reports

United Medical Group reported for 2025 H1:
- Revenue +2.2% YoY (vs +4.6% in previous half-year and historical rate +4.8%)
- EBITDA +0.2% YoY (vs +13.5% in previous half-year and historical rate +18.9%)
- Net Income +25.7% YoY (vs +6.8% in previous half-year and historical rate +19.2%)
- EBITDA margin 41.0% decreased compared to 41.8% same period last year
- Net Debt decreased by 6.4 bln rubles since the previous report (9.3% of market cap)
- FCF (LTM) +12.8 bln RUB (positive), 18.5% of market cap
- EV/EBITDA multiple is 4.9x compared to historical level (50th percentile) of 6.6x

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2025-08-28

#MRKU #reports

IDGC Ural reported for 2025 q2:
- Revenue +7.2% YoY (vs +6.6% in previous quarter and historical rate +9.5%)
- EBITDA -20.5% YoY (vs -2.7% in previous quarter and historical rate +26.7%)
- Net Income -45.4% YoY (vs -46.7% in previous quarter and historical rate +48.3%)
- EBITDA margin 19.7% decreased compared to 26.5% same period last year
- Net Debt increased by 2.4 bln rubles since the previous report (6.6% of market cap)
- FCF (LTM) -6.8 bln RUB (negative), 18.6% of market cap
- EV/EBITDA multiple is 2.6x compared to historical level (50th percentile) of 2.3x

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2025-08-28

#PRMD #reports

Promomed reported for 2025 q1:
- Revenue +37.3% YoY (vs +169.1% in previous quarter and historical rate +33.9%)
- EBITDA +14% YoY (vs +986.8% in previous quarter and historical rate +31.5%)
- Net Income +100% YoY (vs +14.6% in previous quarter and historical rate +1.8%)
- EBITDA margin 31.8% decreased compared to 38.3% same period last year
- Net Debt increased by 1.9 bln rubles since the previous report (2.2% of market cap)
- FCF (LTM) -3 bln RUB (negative), 3.5% of market cap
- EV/EBITDA multiple is 10.7x compared to historical level (50th percentile) of 14.5x

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2025-08-28

#PRMD #reports

Promomed reported for 2025 q2:
- Revenue +37.3% YoY (vs +169.1% in previous quarter and historical rate +33.9%)
- EBITDA +14% YoY (vs +986.8% in previous quarter and historical rate +31.5%)
- Net Income +58.5% YoY (vs +100.0% in previous quarter and historical rate +7.5%)
- EBITDA margin 31.8% decreased compared to 38.3% same period last year
- Net Debt increased by 1.9 bln rubles since the previous report (2.2% of market cap)
- FCF (LTM) -3 bln RUB (negative), 3.5% of market cap
- EV/EBITDA multiple is 10.6x compared to historical level (50th percentile) of 14.5x

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2025-08-28

#RENI #reports

Renessans reported for 2025 q2:
- Revenue +28.1% YoY (vs +22.6% in previous quarter and historical rate +22.2%)
- Net Income -12.5% YoY (vs -16.7% in previous quarter and historical rate +36.9%)
- Net Income margin 4.3% decreased compared to 6.3% same period last year
- P/E multiple is 6x compared to historical level (50th percentile) of 4.9x

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2025-08-28

#HYDR #reports

Rushydro reported for 2025 q2:
- Revenue +16.4% YoY (vs +14.1% in previous quarter and historical rate +14.7%)
- EBITDA +35.6% YoY (vs +31.8% in previous quarter and historical rate +38.3%)
- Net Income +79.3% YoY (vs +14.2% in previous quarter and historical rate -37.7%)
- EBITDA margin 30.9% increased compared to 26.5% same period last year
- Net Debt increased by 55.6 bln rubles since the previous report (26.9% of market cap)
- FCF (LTM) -203.2 bln RUB (negative), 98.5% of market cap
- EV/EBITDA multiple is 4.4x compared to historical level (50th percentile) of 6x

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2025-08-28

#HNFG #reports

Henderson reported for 2025 H1:
- Revenue +17.1% YoY (vs +18.8% in previous half-year and historical rate +27.9%)
- EBITDA -1.7% YoY (vs +8.1% in previous half-year and historical rate +46.5%)
- EBITDA margin 24.4% decreased compared to 29.1% same period last year
- Net Debt increased by 2.2 bln rubles since the previous report (9.9% of market cap)
- FCF (LTM) -0.3 bln RUB (negative), 1.2% of market cap
- EV/EBITDA multiple is 4.1x compared to historical level (50th percentile) of 4.5x

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2025-08-28

#FIXP #reports

Fix Price reported for 2025 H1:
- Revenue -0.1% YoY (vs +6.6% in previous half-year and historical rate +7.2%)
- EBITDA +5.8% YoY (vs +0.2% in previous half-year and historical rate -0.3%)
- Net Income -56% YoY (vs -28.3% in previous half-year and historical rate -8.8%)
- EBITDA margin 11.0% increased compared to 10.4% same period last year
- Net Debt increased by 20.2 bln rubles since the previous report (17.3% of market cap)
- FCF (LTM) -46.7 bln RUB (negative), 40.0% of market cap
- EV/EBITDA multiple is 3.7x compared to historical level (50th percentile) of 5.6x

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2025-08-28

#ASTR #reports

Astra reported for 2025 q2:
- Revenue +13.3% YoY (vs +69.5% in previous quarter and historical rate +100.3%)
- EBITDA +20.5% YoY (vs +617.5% in previous quarter and historical rate +103.1%)
- Net Income -60.4% YoY (vs -9.1% in previous quarter and historical rate +64.1%)
- EBITDA margin 37.6% increased compared to 35.3% same period last year
- Net Debt increased by 2.3 bln rubles since the previous report (2.7% of market cap)
- FCF (LTM) +1.7 bln RUB (positive), 2.0% of market cap
- EV/EBITDA multiple is 11.5x compared to historical level (50th percentile) of 25.5x

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2025-08-28

#MRKY #reports

IDGC South reported for 2025 q2:
- Revenue +47.8% YoY (vs +49.0% in previous quarter and historical rate +13.0%)
- EBITDA +22.7% YoY (vs +39.7% in previous quarter and historical rate +64.8%)
- Net Income -30.1% YoY (vs +62.4% in previous quarter and historical rate +69.3%)
- EBITDA margin 13.6% decreased compared to 16.4% same period last year
- Net Debt increased by 1 bln rubles since the previous report (12.5% of market cap)
- FCF (LTM) -0.8 bln RUB (negative), 10.6% of market cap
- EV/EBITDA multiple is 2x compared to historical level (50th percentile) of 3x

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2025-08-27

#SIBN #reports

Gazprom Neft reported for 2025 q2:
- Revenue -15.1% YoY (vs -8.8% in previous quarter and historical rate +4.1%)
- EBITDA -30.4% YoY (vs -24.2% in previous quarter and historical rate -2.9%)
- Net Income -64.8% YoY (vs -40.3% in previous quarter and historical rate +11.0%)
- EBITDA margin 23.1% decreased compared to 28.1% same period last year
- Net Debt decreased by 9 bln rubles since the previous report (0.4% of market cap)
- FCF (LTM) -531.6 bln RUB (negative), 21.2% of market cap
- EV/EBITDA multiple is 3.9x compared to historical level (50th percentile) of 3.7x
- EV/EBITDA expected multiple is 6.7x

Growth potential increased by 15.3% to -84.2%

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2025-08-27

#TATN #reports

Tatneft reported for 2025 q1:
- Revenue -5.7% YoY (vs -5.7% in previous quarter and historical rate +12.3%)
- EBITDA -36.3% YoY (vs -36.3% in previous quarter and historical rate +8.9%)
- Net Income +31417.4% YoY (vs -97.1% in previous quarter and historical rate +65266.2%)
- EBITDA margin 16.4% decreased compared to 24.4% same period last year
- Net Debt increased by 116.3 bln rubles since the previous report (7.7% of market cap)
- FCF (LTM) +78.1 bln RUB (positive), 5.1% of market cap
- EV/EBITDA multiple is 4x compared to historical level (50th percentile) of 3.1x
- EV/EBITDA expected multiple is 8.1x

Growth potential decreased by 12.7% to -67.3%

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2025-08-27

#TATN #reports

Tatneft reported for 2025 q2:
- Revenue -5.7% YoY (vs -5.7% in previous quarter and historical rate +12.3%)
- EBITDA -36.3% YoY (vs -36.3% in previous quarter and historical rate +8.9%)
- Net Income -64.2% YoY (vs +31417.4% in previous quarter and historical rate +65252.6%)
- EBITDA margin 16.4% decreased compared to 24.4% same period last year
- Net Debt increased by 116.3 bln rubles since the previous report (7.7% of market cap)
- FCF (LTM) +78.1 bln RUB (positive), 5.2% of market cap
- EV/EBITDA multiple is 4x compared to historical level (50th percentile) of 3.1x
- EV/EBITDA expected multiple is 8.1x

Growth potential decreased by 12.7% to -67.3%

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2025-08-27

#NKNC #reports

Nizhnekamsknef-m reported for 2025 H1:
- Revenue +13.2% YoY (vs +12.8% in previous half-year and historical rate +8.1%)
- EBITDA +9.4% YoY (vs +14.2% in previous half-year and historical rate +6.3%)
- Net Income +34.6% YoY (vs -29.6% in previous half-year and historical rate +271.0%)
- EBITDA margin 23.7% decreased compared to 24.5% same period last year
- Net Debt decreased by 7.6 bln rubles since the previous report (5.3% of market cap)
- FCF (LTM) -43.4 bln RUB (negative), 30.3% of market cap
- EV/EBITDA multiple is 4.2x compared to historical level (50th percentile) of 4.7x
- EV/EBITDA expected multiple is 4.4x

Growth potential decreased by 33.4% to -13.3%

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2025-08-27

#RNFT #reports

Russneft reported for 2025 H1:
- Revenue -18.8% YoY (vs +4.1% in previous half-year and historical rate +0.9%)
- EBITDA -42.5% YoY (vs -3.3% in previous half-year and historical rate +29.9%)
- Net Income -68.5% YoY (vs +41.5% in previous half-year and historical rate -14.0%)
- EBITDA margin 20.2% decreased compared to 28.5% same period last year
- Net Debt decreased by 44.2 bln rubles since the previous report (120.5% of market cap)
- FCF (LTM) +6.5 bln RUB (positive), 17.7% of market cap
- EV/EBITDA multiple is 1.8x compared to historical level (50th percentile) of 2.3x
- EV/EBITDA expected multiple is 3x

Growth potential increased by 50.3% to -93.1%

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2025-08-27

#ASTR #reports

Astra reported for 2025 q1:
- Revenue +69.5% YoY (vs +77.0% in previous quarter and historical rate +111.7%)
- EBITDA +617.5% YoY (vs +55.0% in previous quarter and historical rate +112.6%)
- EBITDA margin 18.3% increased compared to 4.3% same period last year
- Net Debt decreased by 2.3 bln rubles since the previous report (2.7% of market cap)
- FCF (LTM) +2.5 bln RUB (positive), 3.0% of market cap
- EV/EBITDA multiple is 11.5x compared to historical level (50th percentile) of 25.5x

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2025-08-27

#PLZL #reports

Polyus reported for 2025 q1:
- Revenue +24.8% YoY (vs +24.8% in previous quarter and historical rate +35.0%)
- EBITDA +14.7% YoY (vs +14.7% in previous quarter and historical rate +46.6%)
- Net Income +20.5% YoY (vs +79.7% in previous quarter and historical rate +55.5%)
- EBITDA margin 66.2% decreased compared to 72.0% same period last year
- Net Debt decreased by 61.3 bln rubles since the previous report (3.0% of market cap)
- FCF (LTM) +165.3 bln RUB (positive), 8.0% of market cap
- EV/EBITDA multiple is 4.9x compared to historical level (50th percentile) of 5.7x
- EV/EBITDA expected multiple is 6.1x

Growth potential decreased by 17.7% to -16.2%

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2025-08-27

#PLZL #reports

Polyus reported for 2025 q2:
- Revenue +24.8% YoY (vs +24.8% in previous quarter and historical rate +35.0%)
- EBITDA +14.7% YoY (vs +14.7% in previous quarter and historical rate +46.6%)
- Net Income +20.5% YoY (vs +20.5% in previous quarter and historical rate +56.7%)
- EBITDA margin 66.2% decreased compared to 72.0% same period last year
- Net Debt decreased by 61.3 bln rubles since the previous report (3.0% of market cap)
- FCF (LTM) +165.3 bln RUB (positive), 8.0% of market cap
- EV/EBITDA multiple is 4.9x compared to historical level (50th percentile) of 5.7x
- EV/EBITDA expected multiple is 6.1x

Growth potential decreased by 17.7% to -16.2%

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2025-08-27

#MRKZ #reports

IDGC North West reported for 2025 q2:
- Revenue +26.2% YoY (vs +31.8% in previous quarter and historical rate +16.9%)
- EBITDA -47.2% YoY (vs +38.5% in previous quarter and historical rate +35.3%)
- Net Income -1927.2% YoY (vs -18.1% in previous quarter and historical rate -161.2%)
- EBITDA margin 5.3% decreased compared to 12.7% same period last year
- Net Debt increased by 0.5 bln rubles since the previous report (6.1% of market cap)
- FCF (LTM) +3.8 bln RUB (positive), 42.5% of market cap
- EV/EBITDA multiple is 1.8x compared to historical level (50th percentile) of 3.4x

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2025-08-27

#WUSH #reports

Whoosh reported for 2025 H1:
- Revenue -14.8% YoY (vs +27.2% in previous half-year and historical rate +43.0%)
- EBITDA -73.5% YoY (vs +26.3% in previous half-year and historical rate +20.4%)
- Net Income -831.7% YoY (vs +19.9% in previous half-year and historical rate -63.5%)
- EBITDA margin 13.7% decreased compared to 44.0% same period last year
- Net Debt increased by 2.6 bln rubles since the previous report (19.4% of market cap)
- FCF (LTM) -1.8 bln RUB (negative), 13.5% of market cap
- EV/EBITDA multiple is 6.8x compared to historical level (50th percentile) of 7.2x

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2025-08-27

#MRKV #reports

IDGC Volga reported for 2025 q2:
- Revenue +53.7% YoY (vs +52.6% in previous quarter and historical rate +19.6%)
- EBITDA +116.9% YoY (vs +52.4% in previous quarter and historical rate +35.2%)
- Net Income +100% YoY (vs +87.6% in previous quarter and historical rate +56.1%)
- EBITDA margin 13.0% increased compared to 9.2% same period last year
- Net Debt increased by 1 bln rubles since the previous report (4.2% of market cap)
- FCF (LTM) +3.3 bln RUB (positive), 13.6% of market cap
- EV/EBITDA multiple is 1.5x compared to historical level (50th percentile) of 1.5x

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2025-08-27

#MRKS #reports

IDGC Siberia reported for 2025 q1:
- Revenue +63.2% YoY (vs +13.1% in previous quarter and historical rate +19.7%)
- EBITDA +86.8% YoY (vs +110.3% in previous quarter and historical rate +37.5%)
- Net Income +19.6% YoY (vs +100.0% in previous quarter and historical rate -133.0%)
- EBITDA margin 7.3% increased compared to 6.4% same period last year
- Net Debt increased by 0.8 bln rubles since the previous report (1.5% of market cap)
- FCF (LTM) -50.7 bln RUB (negative), 101.3% of market cap
- EV/EBITDA multiple is 6.5x compared to historical level (50th percentile) of 10.9x

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2025-08-27

#MRKS #reports

IDGC Siberia reported for 2025 q2:
- Revenue +63.2% YoY (vs +13.1% in previous quarter and historical rate +19.7%)
- EBITDA +86.8% YoY (vs +110.3% in previous quarter and historical rate +37.5%)
- Net Income +19.6% YoY (vs +19.6% in previous quarter and historical rate -106.6%)
- EBITDA margin 7.3% increased compared to 6.4% same period last year
- Net Debt increased by 0.8 bln rubles since the previous report (1.5% of market cap)
- FCF (LTM) -50.7 bln RUB (negative), 101.3% of market cap
- EV/EBITDA multiple is 6.5x compared to historical level (50th percentile) of 10.9x

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2025-08-26

#AKRN #reports

Acron reported for 2025 q2:
- Revenue +29.1% YoY (vs +30.3% in previous quarter and historical rate +1.5%)
- EBITDA +42.1% YoY (vs +6.7% in previous quarter and historical rate -1.3%)
- Net Income +29% YoY (vs +123.8% in previous quarter and historical rate +24.0%)
- EBITDA margin 29.8% increased compared to 27.0% same period last year
- Net Debt increased by 4.9 bln rubles since the previous report (0.7% of market cap)
- FCF (LTM) +0.2 bln RUB (positive), 0.0% of market cap
- EV/EBITDA multiple is 10.8x compared to historical level (50th percentile) of 8.9x
- EV/EBITDA expected multiple is 10.8x

Growth potential increased by 6.6% to -30.0%

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2025-08-26

#VSEH #reports

VseInstrumenti reported for 2025 q1:
- Revenue +10.3% YoY (vs +18.8% in previous quarter and historical rate +38.9%)
- EBITDA +106.8% YoY (vs -5.8% in previous quarter and historical rate +55.1%)
- Net Income -200.9% YoY (vs -35.4% in previous quarter and historical rate -86.4%)
- EBITDA margin 9.7% increased compared to 5.2% same period last year
- Net Debt decreased by 7.1 bln rubles since the previous report (17.9% of market cap)
- FCF (LTM) -0.5 bln RUB (negative), 1.2% of market cap
- EV/EBITDA multiple is 4.6x compared to historical level (50th percentile) of 7.4x

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2025-08-26

#VSEH #reports

VseInstrumenti reported for 2025 q2:
- Revenue +10.3% YoY (vs +18.8% in previous quarter and historical rate +38.9%)
- EBITDA +106.8% YoY (vs -5.8% in previous quarter and historical rate +55.1%)
- EBITDA margin 9.7% increased compared to 5.2% same period last year
- Net Debt decreased by 7.1 bln rubles since the previous report (17.9% of market cap)
- FCF (LTM) -0.5 bln RUB (negative), 1.2% of market cap
- EV/EBITDA multiple is 4.6x compared to historical level (50th percentile) of 7.4x

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2025-08-26

#MOEX #reports

MOEX reported for 2025 q2:
- Revenue -11.6% YoY (vs -10.8% in previous quarter and historical rate +33.6%)
- Net Income -22.8% YoY (vs -32.9% in previous quarter and historical rate +36.0%)
- Net Income margin 46.5% decreased compared to 53.2% same period last year
- P/E multiple is 6.1x compared to historical level (50th percentile) of 6.5x

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2025-08-26

#ZAYM #reports

Zaymer reported for 2025 q2:
- Revenue +28.2% YoY (vs +22.7% in previous quarter and historical rate +11.6%)
- Net Income -21.4% YoY (vs +99.6% in previous quarter and historical rate +8.5%)
- Net Income margin 16.4% decreased compared to 26.8% same period last year
- P/E multiple is 3.6x compared to historical level (50th percentile) of 3.6x

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2025-08-22

#CARM #reports

CarMoney reported for 2025 H1:
- Revenue -23.7% YoY (vs -42.7% in previous half-year and historical rate -4.2%)
- Net Income -59.1% YoY (vs -60.6% in previous half-year and historical rate -0.8%)
- Net Income margin 5.7% decreased compared to 10.6% same period last year
- P/E multiple is 20.2x compared to historical level (50th percentile) of 10.2x

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2025-08-22

#DATA #reports

ArenaData reported for 2025 H1:
- Revenue -41.8% YoY (vs +26.2% in previous half-year and historical rate +47.9%)
- EBITDA -298.2% YoY (vs -21.5% in previous half-year and historical rate +15.5%)
- Net Income -251.3% YoY (vs -13.1% in previous half-year and historical rate +12.8%)
- EBITDA margin -87.8% decreased compared to 25.8% same period last year
- Net Debt increased by 0.6 bln rubles since the previous report (2.2% of market cap)
- FCF (LTM) +1.3 bln RUB (positive), 4.9% of market cap
- EV/EBITDA multiple is 188.5x compared to historical level (50th percentile) of 12.9x

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2025-08-22

#DELI #reports

Delimobil reported for 2025 H1:
- Revenue +15.9% YoY (vs +23.7% in previous half-year and historical rate +28.0%)
- EBITDA -7.3% YoY (vs -20.4% in previous half-year and historical rate +24.0%)
- Net Income -469.8% YoY (vs -144.6% in previous half-year and historical rate +41.8%)
- EBITDA margin 12.3% decreased compared to 15.4% same period last year
- Net Debt increased by 1 bln rubles since the previous report (4.1% of market cap)
- FCF (LTM) -5.7 bln RUB (negative), 24.4% of market cap
- EV/EBITDA multiple is 11.2x compared to historical level (50th percentile) of 14.5x

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2025-08-22

#BSPB #reports

Bank Sankt-Peterburg reported for 2025 q2:
- Revenue +1.7% YoY (vs +12.8% in previous quarter and historical rate +17.0%)
- Net Income -19.2% YoY (vs +19.3% in previous quarter and historical rate +43.7%)
- Net Income margin 39.5% decreased compared to 49.6% same period last year
- P/E multiple is 2.6x compared to historical level (50th percentile) of 2.6x

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2025-08-21

#ENPG #reports

En+ Group reported for 2025 H1:
- Revenue +22.5% YoY (vs -6.9% in previous half-year and historical rate +35.2%)
- EBITDA -7.4% YoY (vs +5.3% in previous half-year and historical rate +8.6%)
- Net Income -66.5% YoY (vs +158.4% in previous half-year and historical rate +987.9%)
- EBITDA margin 15.1% decreased compared to 20.0% same period last year
- Net Debt decreased by 189 bln rubles since the previous report (62.2% of market cap)
- FCF (LTM) +25.9 bln RUB (positive), 8.5% of market cap
- EV/EBITDA multiple is 7.3x compared to historical level (50th percentile) of 10.9x

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2025-08-21

#TRMK #reports

TMK (pipe) reported for 2025 q1:
- Revenue -14.4% YoY (vs -14.4% in previous quarter and historical rate -2.6%)
- EBITDA +13.8% YoY (vs +13.8% in previous quarter and historical rate +10.7%)
- Net Income -78.9% YoY (vs -206.3% in previous quarter and historical rate +27.0%)
- EBITDA margin 17.0% increased compared to 12.8% same period last year
- Net Debt increased by 15.9 bln rubles since the previous report (14.6% of market cap)
- FCF (LTM) +16.4 bln RUB (positive), 15.1% of market cap
- EV/EBITDA multiple is 6.1x compared to historical level (50th percentile) of 3.9x
- EV/EBITDA expected multiple is 7x

Growth potential decreased by 20.2% to -229.4%

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2025-08-21

#MGKL #reports

Mosgorlombard reported for 2025 q1:
- Revenue -87.8% YoY (vs -87.8% in previous quarter and historical rate +102.7%)
- Net Income +84.8% YoY (vs +83.2% in previous quarter and historical rate +142.4%)
- Net Income margin 110.7% increased compared to 7.3% same period last year
- P/E multiple is 4.8x compared to historical level (50th percentile) of 5.3x

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2025-08-21

#TRMK #reports

TMK (pipe) reported for 2025 q2:
- Revenue -14.4% YoY (vs -14.4% in previous quarter and historical rate -2.6%)
- EBITDA +13.8% YoY (vs +13.8% in previous quarter and historical rate +10.7%)
- Net Income -78.9% YoY (vs -78.9% in previous quarter and historical rate -22.8%)
- EBITDA margin 17.0% increased compared to 12.8% same period last year
- Net Debt increased by 15.9 bln rubles since the previous report (14.6% of market cap)
- FCF (LTM) +16.4 bln RUB (positive), 15.1% of market cap
- EV/EBITDA multiple is 6.1x compared to historical level (50th percentile) of 3.9x
- EV/EBITDA expected multiple is 7x

Growth potential decreased by 20.2% to -229.4%

------------------------------------------------

2025-08-21

#MGKL #reports

Mosgorlombard reported for 2025 q2:
- Revenue -87.8% YoY (vs -87.8% in previous quarter and historical rate +102.7%)
- Net Income +84.8% YoY (vs +83.2% in previous quarter and historical rate +142.4%)
- Net Income margin 110.7% increased compared to 7.3% same period last year
- P/E multiple is 4.7x compared to historical level (50th percentile) of 5.3x

------------------------------------------------

2025-08-20

#NLMK #reports

NLMK reported for 2025 q1:
- Revenue -18.1% YoY (vs -5.6% in previous quarter and historical rate -9.2%)
- EBITDA -56% YoY (vs -42.5% in previous quarter and historical rate -25.1%)
- Net Income -37.6% YoY (vs -43.7% in previous quarter and historical rate -30.3%)
- EBITDA margin 17.5% decreased compared to 32.5% same period last year
- Net Debt decreased by 4.9 bln rubles since the previous report (0.6% of market cap)
- FCF (LTM) +49.7 bln RUB (positive), 6.6% of market cap
- EV/EBITDA multiple is 3.9x compared to historical level (50th percentile) of 2.9x
- EV/EBITDA expected multiple is 3.4x

Growth potential decreased by 45.6% to -9.6%

------------------------------------------------

2025-08-20

#NLMK #reports

NLMK reported for 2025 q2:
- Revenue -18.1% YoY (vs -5.6% in previous quarter and historical rate -9.2%)
- EBITDA -56% YoY (vs -42.5% in previous quarter and historical rate -25.1%)
- Net Income -37.6% YoY (vs -37.6% in previous quarter and historical rate -33.4%)
- EBITDA margin 17.5% decreased compared to 32.5% same period last year
- Net Debt decreased by 4.9 bln rubles since the previous report (0.6% of market cap)
- FCF (LTM) +49.7 bln RUB (positive), 6.5% of market cap
- EV/EBITDA multiple is 3.9x compared to historical level (50th percentile) of 2.9x
- EV/EBITDA expected multiple is 3.4x

Growth potential decreased by 46.3% to -10.2%

------------------------------------------------

2025-08-20

#CNRU #reports

Cian reported for 2025 q1:
- Revenue +11.5% YoY (vs +4.9% in previous quarter and historical rate +25.9%)
- EBITDA 0% YoY (vs -22.0% in previous quarter and historical rate +84.4%)
- EBITDA margin 19.7% decreased compared to 22.0% same period last year
- Net Debt decreased by 1.1 bln rubles since the previous report (2.5% of market cap)
- FCF (LTM) +1.1 bln RUB (positive), 2.4% of market cap
- EV/EBITDA multiple is 17.1x compared to historical level (50th percentile) of 18.1x

------------------------------------------------

2025-08-20

#CNRU #reports

Cian reported for 2025 q2:
- Revenue +11.5% YoY (vs +4.9% in previous quarter and historical rate +25.9%)
- EBITDA 0% YoY (vs -22.0% in previous quarter and historical rate +84.4%)
- EBITDA margin 19.7% decreased compared to 22.0% same period last year
- Net Debt decreased by 1.1 bln rubles since the previous report (2.5% of market cap)
- FCF (LTM) +1.1 bln RUB (positive), 2.4% of market cap
- EV/EBITDA multiple is 17.1x compared to historical level (50th percentile) of 18.1x

------------------------------------------------

2025-08-20

#LEAS #reports

Europlan reported for 2025 q2:
- Revenue +4.7% YoY (vs +19.5% in previous quarter and historical rate +28.0%)
- Net Income -88.5% YoY (vs -68.5% in previous quarter and historical rate +0.9%)
- Net Income margin 4.7% decreased compared to 43.3% same period last year
- P/E multiple is 9.8x compared to historical level (50th percentile) of 5.8x

------------------------------------------------

2025-08-19

#MTSS #reports

MTS reported for 2025 q2:
- Revenue +14.4% YoY (vs +8.8% in previous quarter and historical rate +11.4%)
- EBITDA +11.2% YoY (vs +7.4% in previous quarter and historical rate +4.8%)
- EBITDA margin 32.8% decreased compared to 33.7% same period last year
- Net Debt decreased by 26 bln rubles since the previous report (6.7% of market cap)
- FCF (LTM) +43.6 bln RUB (positive), 11.3% of market cap
- EV/EBITDA multiple is 3.6x compared to historical level (50th percentile) of 4.4x

------------------------------------------------

2025-08-19

#MBNK #reports

MTS Bank reported for 2025 q2:
- Revenue -6.3% YoY (vs -21.1% in previous quarter and historical rate +22.7%)
- Net Income -36.1% YoY (vs -74.9% in previous quarter and historical rate +42.9%)
- Net Income margin 15.0% decreased compared to 22.1% same period last year
- P/E multiple is 5.9x compared to historical level (50th percentile) of 4.1x

------------------------------------------------

2025-08-15

#MFON #reports

Megafon reported for 2025 q1:
- Revenue +8.6% YoY (vs +8.6% in previous quarter and historical rate +9.2%)
- EBITDA +8.5% YoY (vs +8.5% in previous quarter and historical rate +12.0%)
- Net Income -36.2% YoY (vs +12.6% in previous quarter and historical rate +13.5%)
- EBITDA margin 44.4% has not changed compared to 44.5% same period last year
- EV/EBITDA multiple is 2.4x compared to historical level (50th percentile) of 0x

------------------------------------------------

2025-08-15

#MFON #reports

Megafon reported for 2025 q2:
- Revenue +8.6% YoY (vs +8.6% in previous quarter and historical rate +9.2%)
- EBITDA +8.5% YoY (vs +8.5% in previous quarter and historical rate +12.0%)
- Net Income -36.2% YoY (vs -36.2% in previous quarter and historical rate +8.0%)
- EBITDA margin 44.4% has not changed compared to 44.5% same period last year
- EV/EBITDA multiple is 2.4x compared to historical level (50th percentile) of 0x

------------------------------------------------

2025-08-15

#HEAD #reports

Head Hunter reported for 2025 q2:
- Revenue +3.3% YoY (vs +11.7% in previous quarter and historical rate +35.2%)
- EBITDA -6.7% YoY (vs -1.9% in previous quarter and historical rate +41.0%)
- EBITDA margin 52.6% decreased compared to 58.2% same period last year
- Net Debt decreased by 2.2 bln rubles since the previous report (1.2% of market cap)
- FCF (LTM) +23.2 bln RUB (positive), 12.6% of market cap
- EV/EBITDA multiple is 8x compared to historical level (50th percentile) of 8.1x

------------------------------------------------

2025-08-15

#SVCB #reports

Sovcombank reported for 2025 q2:
- Revenue -86% YoY (vs +67.3% in previous quarter and historical rate +8.3%)
- Net Income -118.8% YoY (vs -38.3% in previous quarter and historical rate +27.2%)
- Net Income margin -44.7% decreased compared to 33.2% same period last year
- P/E multiple is 6.3x compared to historical level (50th percentile) of 3.8x

------------------------------------------------

2025-08-15

#RASP #reports

Raspadskaya reported for 2025 H1:
- Revenue -32.6% YoY (vs -18.3% in previous half-year and historical rate -13.3%)
- EBITDA -751.7% YoY (vs -76.0% in previous half-year and historical rate -75.6%)
- Net Income -93.4% YoY (vs -131.1% in previous half-year and historical rate +63.3%)
- EBITDA margin -18.7% decreased compared to 1.9% same period last year
- Net Debt decreased by 2.4 bln rubles since the previous report (1.6% of market cap)
- FCF (LTM) -13.2 bln RUB (negative), 8.8% of market cap
- EV/EBITDA multiple is -25.3x compared to historical level (50th percentile) of 3.9x
- EV/EBITDA expected multiple is -10.9x

Growth potential increased by 109.2% to -133.8%

------------------------------------------------

2025-08-15

#FLOT #reports

SCF Group reported for 2025 q2:
- Revenue -35.9% YoY (vs -47.3% in previous quarter and historical rate +19.6%)
- EBITDA -59.5% YoY (vs -67.5% in previous quarter and historical rate +22.3%)
- Net Income -133.8% YoY (vs -288.0% in previous quarter and historical rate +60.4%)
- EBITDA margin 34.2% decreased compared to 54.2% same period last year
- Net Debt decreased by 5.5 bln rubles since the previous report (2.6% of market cap)
- FCF (LTM) +63 bln RUB (positive), 29.5% of market cap
- EV/EBITDA multiple is 3x compared to historical level (50th percentile) of 2.5x
- EV/EBITDA expected multiple is 3.3x

Growth potential decreased by 13.3% to -27.1%

------------------------------------------------

2025-08-15

#RUAL #reports

Rusal reported for 2025 H1:
- Revenue +27% YoY (vs +7.4% in previous half-year and historical rate +9.9%)
- EBITDA -19.1% YoY (vs -51.5% in previous half-year and historical rate +21.9%)
- Net Income -114.8% YoY (vs +100.0% in previous half-year and historical rate +160.5%)
- EBITDA margin 7.7% decreased compared to 12.1% same period last year
- Net Debt decreased by 83.3 bln rubles since the previous report (15.2% of market cap)
- FCF (LTM) -31.3 bln RUB (negative), 5.7% of market cap
- EV/EBITDA multiple is 14.9x compared to historical level (50th percentile) of 14.9x
- EV/EBITDA expected multiple is -18.5x

Growth potential decreased by 80.2% to -360.8%

------------------------------------------------

2025-08-14

#IRAO #reports

Inter RAO reported for 2025 q2:
- Revenue +12.2% YoY (vs +12.6% in previous quarter and historical rate +11.2%)
- EBITDA +28.3% YoY (vs +1.9% in previous quarter and historical rate +0.9%)
- Net Income +13.2% YoY (vs -1.6% in previous quarter and historical rate +9.0%)
- EBITDA margin 10.2% increased compared to 8.9% same period last year
- Net Debt decreased by 65.6 bln rubles since the previous report (19.1% of market cap)
- FCF (LTM) +114.2 bln RUB (positive), 33.2% of market cap
- EV/EBITDA multiple is 0.8x compared to historical level (50th percentile) of 0.9x

------------------------------------------------

2025-08-13

#VKCO #reports

VK company reported for 2025 q1:
- Revenue +3.4% YoY (vs +3.4% in previous quarter and historical rate +6.7%)
- EBITDA +2040.1% YoY (vs +2040.1% in previous quarter and historical rate +10.9%)
- Net Income -1489.7% YoY (vs +55.9% in previous quarter and historical rate -78.0%)
- EBITDA margin 25.1% increased compared to 1.2% same period last year
- Net Debt decreased by 56.2 bln rubles since the previous report (70.0% of market cap)
- FCF (LTM) +67.3 bln RUB (positive), 83.8% of market cap
- EV/EBITDA multiple is 12x compared to historical level (50th percentile) of 12.7x

------------------------------------------------

2025-08-13

#VKCO #reports

VK company reported for 2025 q2:
- Revenue +3.4% YoY (vs +3.4% in previous quarter and historical rate +6.7%)
- EBITDA +2040.1% YoY (vs +2040.1% in previous quarter and historical rate +10.9%)
- Net Income -1489.7% YoY (vs -1489.7% in previous quarter and historical rate -204.9%)
- EBITDA margin 25.1% increased compared to 1.2% same period last year
- Net Debt decreased by 56.2 bln rubles since the previous report (69.7% of market cap)
- FCF (LTM) +67.3 bln RUB (positive), 83.4% of market cap
- EV/EBITDA multiple is 12.1x compared to historical level (50th percentile) of 12.7x

------------------------------------------------

2025-08-12

#DIAS #reports

Diasoft reported for 2025 q1:
- Revenue +17.6% YoY (vs +3.7% in previous quarter and historical rate +16.6%)
- EBITDA -10.4% YoY (vs -18.9% in previous quarter and historical rate +7.9%)
- EBITDA margin 17.5% decreased compared to 23.0% same period last year
- EV/EBITDA multiple is 9.9x compared to historical level (50th percentile) of 13.2x

------------------------------------------------

2025-08-12

#DIAS #reports

Diasoft reported for 2025 q2:
- Revenue +17.6% YoY (vs +3.7% in previous quarter and historical rate +16.6%)
- EBITDA -10.4% YoY (vs -18.9% in previous quarter and historical rate +7.9%)
- EBITDA margin 17.5% decreased compared to 23.0% same period last year
- EV/EBITDA multiple is 9.9x compared to historical level (50th percentile) of 13.2x

------------------------------------------------

2025-08-12

#ALRS #reports

Alrosa reported for 2025 q2:
- Revenue +11.8% YoY (vs -44.1% in previous quarter and historical rate -14.2%)
- EBITDA -43.2% YoY (vs -66.6% in previous quarter and historical rate -28.9%)
- Net Income +236.5% YoY (vs +236.5% in previous quarter and historical rate +20.4%)
- EBITDA margin 8.0% decreased compared to 15.7% same period last year
- Net Debt decreased by 22.5 bln rubles since the previous report (6.1% of market cap)
- FCF (LTM) -43.7 bln RUB (negative), 11.9% of market cap
- EV/EBITDA multiple is 13.9x compared to historical level (50th percentile) of 4.1x
- EV/EBITDA expected multiple is -36.1x

Growth potential decreased by 10.8% to -138.1%

------------------------------------------------

2025-08-12

#ALRS #reports

Alrosa reported for 2025 q1:
- Revenue +11.8% YoY (vs -44.1% in previous quarter and historical rate -14.2%)
- EBITDA +204.1% YoY (vs -66.6% in previous quarter and historical rate -8.5%)
- Net Income +236.5% YoY (vs -77.4% in previous quarter and historical rate +0.7%)
- EBITDA margin 45.9% increased compared to 16.9% same period last year
- Net Debt decreased by 22.5 bln rubles since the previous report (6.2% of market cap)
- FCF (LTM) -43.7 bln RUB (negative), 12.1% of market cap
- EV/EBITDA multiple is 7.5x compared to historical level (50th percentile) of 4.1x
- EV/EBITDA expected multiple is 29.3x

Growth potential increased by 19.6% to -107.7%

------------------------------------------------

2025-08-08

#PHOR #reports

Phosagro reported for 2025 q2:
- Revenue +13.8% YoY (vs +33.6% in previous quarter and historical rate +2.0%)
- EBITDA +17.4% YoY (vs +28.9% in previous quarter and historical rate -7.4%)
- Net Income -19.7% YoY (vs +154.1% in previous quarter and historical rate +1.2%)
- EBITDA margin 32.9% increased compared to 31.9% same period last year
- Net Debt decreased by 17.3 bln rubles since the previous report (1.9% of market cap)
- FCF (LTM) +23.7 bln RUB (positive), 2.6% of market cap
- EV/EBITDA multiple is 6x compared to historical level (50th percentile) of 5.9x
- EV/EBITDA expected multiple is 5.8x

Growth potential decreased by 4.8% to -9.6%

------------------------------------------------

2025-08-07

#UPRO #reports

Unipro reported for 2025 H1:
- Revenue +1.8% YoY (vs +8.3% in previous half-year and historical rate +10.1%)
- EBITDA -18.1% YoY (vs -13.0% in previous half-year and historical rate +51.9%)
- Net Income -3.8% YoY (vs +56.8% in previous half-year and historical rate -3.3%)
- EBITDA margin 32.7% decreased compared to 40.7% same period last year
- EV/EBITDA multiple is 0.5x compared to historical level (50th percentile) of 1.9x

------------------------------------------------

2025-08-07

#RTKM #reports

Rostelecom reported for 2025 q2:
- Revenue +13.5% YoY (vs +9.4% in previous quarter and historical rate +11.8%)
- EBITDA +11.3% YoY (vs +0.3% in previous quarter and historical rate +9.1%)
- Net Income -55.4% YoY (vs -45.7% in previous quarter and historical rate +63.8%)
- EBITDA margin 39.2% decreased compared to 39.9% same period last year
- Net Debt increased by 11.7 bln rubles since the previous report (6.1% of market cap)
- FCF (LTM) -117.6 bln RUB (negative), 61.0% of market cap
- EV/EBITDA multiple is 3.1x compared to historical level (50th percentile) of 3.4x

------------------------------------------------

2025-08-07

#OZON #reports

OZON reported for 2025 q2:
- Revenue +85.8% YoY (vs +65.1% in previous quarter and historical rate +52.8%)
- Net Income +100% YoY (vs +100.0% in previous quarter and historical rate -1578.2%)
- EBITDA margin 13.3% increased compared to -2.6% same period last year
- Net Debt decreased by 6.8 bln rubles since the previous report (0.7% of market cap)
- FCF (LTM) -72.4 bln RUB (negative), 8.0% of market cap

------------------------------------------------

2025-08-04

#GMKN #reports

Nornickel reported for 2025 H1:
- Revenue +10.9% YoY (vs +0.4% in previous half-year and historical rate -0.6%)
- EBITDA +7.8% YoY (vs -14.5% in previous half-year and historical rate -10.9%)
- Net Income -2.3% YoY (vs -47.8% in previous half-year and historical rate +13.3%)
- EBITDA margin 34.7% decreased compared to 35.7% same period last year
- Net Debt decreased by 90.6 bln rubles since the previous report (4.9% of market cap)
- FCF (LTM) +15.7 bln RUB (positive), 0.8% of market cap
- EV/EBITDA multiple is 6.1x compared to historical level (50th percentile) of 5.7x
- EV/EBITDA expected multiple is 6.5x

Growth potential decreased by 17.0% to -13.0%

------------------------------------------------

2025-08-04

#ELFV #reports

EL5-Energo reported for 2025 q2:
- Revenue +21.8% YoY (vs +11.7% in previous quarter and historical rate +13.5%)
- EBITDA +43.8% YoY (vs +2.5% in previous quarter and historical rate +28.1%)
- Net Income -3% YoY (vs +1.7% in previous quarter and historical rate -769.7%)
- EBITDA margin 22.8% increased compared to 19.3% same period last year
- Net Debt decreased by 1.4 bln rubles since the previous report (8.6% of market cap)
- FCF (LTM) +3.2 bln RUB (positive), 19.4% of market cap
- EV/EBITDA multiple is 2.7x compared to historical level (50th percentile) of 3.9x

------------------------------------------------

2025-08-01

#POSI #reports

Positive reported for 2025 q2:
- Revenue +42% YoY (vs +7.6% in previous quarter and historical rate +44.6%)
- Net Income +23.8% YoY (vs -86.0% in previous quarter and historical rate -422.0%)
- EBITDA margin -20.4% increased compared to -80.3% same period last year
- Net Debt increased by 6.1 bln rubles since the previous report (6.6% of market cap)
- FCF (LTM) -8.7 bln RUB (negative), 9.3% of market cap

------------------------------------------------

2025-07-31

#VTBR #reports

Bank VTB reported for 2025 q2:
- Revenue -14.4% YoY (vs -39.0% in previous quarter and historical rate +3.4%)
- Net Income -9.7% YoY (vs +15.4% in previous quarter and historical rate +50.9%)
- Net Income margin 83.6% increased compared to 79.3% same period last year
- P/E multiple is 1.7x compared to historical level (50th percentile) of 1.1x

------------------------------------------------

2025-07-31

#LENT #reports

Lenta reported for 2025 q2:
- Revenue +25.3% YoY (vs +23.2% in previous quarter and historical rate +25.4%)
- EBITDA +114% YoY (vs +25.3% in previous quarter and historical rate +51.9%)
- Net Income +39.7% YoY (vs +39.7% in previous quarter and historical rate -7.3%)
- EBITDA margin 13.5% increased compared to 7.9% same period last year
- Net Debt increased by 91 bln rubles since the previous report (51.3% of market cap)
- FCF (LTM) -71.7 bln RUB (negative), 40.4% of market cap
- EV/EBITDA multiple is 3.8x compared to historical level (50th percentile) of 4.2x

------------------------------------------------

2025-07-30

#NVTK #reports

Novatek reported for 2025 q1:
- Revenue +10.7% YoY (vs +3.4% in previous quarter and historical rate +5.4%)
- EBITDA -14.9% YoY (vs -9.2% in previous quarter and historical rate +1.5%)
- Net Income -41.3% YoY (vs +6.5% in previous quarter and historical rate +41.4%)
- EBITDA margin 25.9% decreased compared to 33.6% same period last year
- EV/EBITDA multiple is 8.5x compared to historical level (50th percentile) of 7.2x
- EV/EBITDA expected multiple is 74.4x

Growth potential decreased by 3.4% to -100.0%

------------------------------------------------

2025-07-30

#NVTK #reports

Novatek reported for 2025 q2:
- Revenue +10.7% YoY (vs +3.4% in previous quarter and historical rate +5.4%)
- EBITDA -14.9% YoY (vs -9.2% in previous quarter and historical rate +1.5%)
- Net Income -41.3% YoY (vs -41.3% in previous quarter and historical rate +31.1%)
- EBITDA margin 25.9% decreased compared to 33.6% same period last year
- EV/EBITDA multiple is 8.5x compared to historical level (50th percentile) of 7.2x
- EV/EBITDA expected multiple is 74.4x

Growth potential decreased by 3.4% to -100.0%

------------------------------------------------

2025-07-29

#SBER #reports

Sberbank reported for 2025 q2:
- Revenue +9.8% YoY (vs +11.9% in previous quarter and historical rate +12.4%)
- Net Income +1% YoY (vs +9.7% in previous quarter and historical rate +56.2%)
- Net Income margin 37.1% decreased compared to 40.4% same period last year
- P/E multiple is 4.2x compared to historical level (50th percentile) of 4.4x

------------------------------------------------

2025-07-24

#MAGN #reports

MMK reported for 2025 q2:
- Revenue -31% YoY (vs -17.9% in previous quarter and historical rate -8.8%)
- EBITDA -56.1% YoY (vs -53.3% in previous quarter and historical rate -24.2%)
- Net Income -90.7% YoY (vs -86.8% in previous quarter and historical rate -18.3%)
- EBITDA margin 14.3% decreased compared to 22.4% same period last year
- Net Debt increased by 3.8 bln rubles since the previous report (1.0% of market cap)
- FCF (LTM) +43.5 bln RUB (positive), 11.6% of market cap
- EV/EBITDA multiple is 3x compared to historical level (50th percentile) of 2.3x
- EV/EBITDA expected multiple is 3.5x

Growth potential decreased by 22.9% to -24.0%

------------------------------------------------

2025-07-21

#CHMF #reports

Severstal reported for 2025 q2:
- Revenue -19.1% YoY (vs -9.2% in previous quarter and historical rate -3.0%)
- EBITDA -36.6% YoY (vs -41.0% in previous quarter and historical rate -15.7%)
- Net Income -55.4% YoY (vs -54.9% in previous quarter and historical rate -14.7%)
- EBITDA margin 21.5% decreased compared to 27.4% same period last year
- Net Debt decreased by 5.7 bln rubles since the previous report (0.7% of market cap)
- FCF (LTM) -22.3 bln RUB (negative), 2.6% of market cap
- EV/EBITDA multiple is 4.7x compared to historical level (50th percentile) of 3.7x
- EV/EBITDA expected multiple is 4.5x

Growth potential decreased by 9.1% to -17.7%

------------------------------------------------

2025-07-10

#MSRS #reports

Rosseti Moscow Region reported for 2025 q1:
- Revenue +7% YoY (vs +8.1% in previous quarter and historical rate +10.9%)
- EBITDA +26.7% YoY (vs +485.0% in previous quarter and historical rate +24.8%)
- Net Income +23.3% YoY (vs -375.8% in previous quarter and historical rate +24.8%)
- EBITDA margin 33.3% increased compared to 28.1% same period last year
- Net Debt increased by 6.9 bln rubles since the previous report (11.8% of market cap)
- FCF (LTM) -9.5 bln RUB (negative), 16.3% of market cap
- EV/EBITDA multiple is 2.1x compared to historical level (50th percentile) of 2x

------------------------------------------------

2025-06-26

#SGZH #reports

Segezha Group reported for 2025 q1:
- Revenue +7.7% YoY (vs +4.6% in previous quarter and historical rate +1.7%)
- EBITDA -16.5% YoY (vs -38.1% in previous quarter and historical rate -19.3%)
- Net Income -31.6% YoY (vs -39.4% in previous quarter and historical rate -108.1%)
- EBITDA margin 8.6% decreased compared to 11.1% same period last year
- Net Debt decreased by 108.9 bln rubles since the previous report (93.1% of market cap)
- FCF (LTM) -16.6 bln RUB (negative), 14.2% of market cap
- EV/EBITDA multiple is 17.7x compared to historical level (50th percentile) of 16.2x
- EV/EBITDA expected multiple is -6.8x

Growth potential increased by 24.3% to -386.3%

------------------------------------------------

2025-06-26

#DIAS #reports

Diasoft reported for 2024 H2:
- Revenue +3.7% YoY (vs +20.8% in previous half-year and historical rate +15.9%)
- EBITDA -18.9% YoY (vs -21.1% in previous half-year and historical rate +10.6%)
- Net Income +37.2% YoY (vs -22.2% in previous half-year and historical rate +24.6%)
- EBITDA margin 33.1% decreased compared to 42.3% same period last year
- Net Debt increased by 0.3 bln rubles since the previous report (0.9% of market cap)
- FCF (LTM) +1.4 bln RUB (positive), 4.2% of market cap
- EV/EBITDA multiple is 10.8x compared to historical level (50th percentile) of 12.9x

------------------------------------------------

2025-06-16

#CARM #reports

CarMoney reported for 2024 H2:
- Revenue -42.7% YoY (vs +10.7% in previous half-year and historical rate -0.9%)
- Net Income -60.6% YoY (vs -26.4% in previous half-year and historical rate +20.1%)
- Net Income margin 13.0% decreased compared to 18.9% same period last year
- P/E multiple is 11.9x compared to historical level (50th percentile) of 9.7x

------------------------------------------------

2025-06-15

#MFON #reports

Megafon reported for 2024 q4:
- Revenue +12.7% YoY (vs +12.7% in previous quarter and historical rate +11.2%)
- EBITDA +16.4% YoY (vs +16.4% in previous quarter and historical rate +11.2%)
- Net Income +12.6% YoY (vs +12.6% in previous quarter and historical rate +20.6%)
- EBITDA margin 38.2% increased compared to 37.0% same period last year
- Net Debt increased by 38.2 bln rubles since the previous report (245003.7% of market cap)
- FCF (LTM) +2.6 bln RUB (positive), 16667.1% of market cap
- EV/EBITDA multiple is 2.5x compared to historical level (50th percentile) of 2.9x

------------------------------------------------

2025-06-05

#AFKS #reports

Sistema reported for 2025 q1:
- Revenue +8.4% YoY (vs +13.3% in previous quarter and historical rate +15.4%)
- EBITDA +20.9% YoY (vs +55.1% in previous quarter and historical rate +10.4%)
- EBITDA margin 28.5% increased compared to 25.5% same period last year
- Net Debt increased by 76.6 bln rubles since the previous report (48.1% of market cap)
- FCF (LTM) -266.8 bln RUB (negative), 167.4% of market cap
- EV/EBITDA multiple is 5.6x compared to historical level (50th percentile) of 6.2x

------------------------------------------------

2025-05-30

#ROSN #reports

Rosneft reported for 2025 q1:
- Revenue -11.2% YoY (vs +1.2% in previous quarter and historical rate +4.5%)
- EBITDA -26.2% YoY (vs +55.5% in previous quarter and historical rate +15.2%)
- Net Income -43% YoY (vs -48.3% in previous quarter and historical rate +4096.5%)
- EBITDA margin 25.7% decreased compared to 30.9% same period last year
- EV/EBITDA multiple is 2.8x compared to historical level (50th percentile) of 3x
- EV/EBITDA expected multiple is 5.9x

Growth potential decreased by 31.4% to -99.0%

------------------------------------------------

2025-05-30

#TRNFP #reports

Transneft (pref) reported for 2025 q1:
- Revenue -2% YoY (vs +1.2% in previous quarter and historical rate +8.1%)
- EBITDA -0.8% YoY (vs -13.5% in previous quarter and historical rate +2.0%)
- Net Income -14.3% YoY (vs +25.2% in previous quarter and historical rate -9.4%)
- EBITDA margin 43.9% increased compared to 43.3% same period last year
- Net Debt increased by 9.1 bln rubles since the previous report (1.0% of market cap)
- FCF (LTM) +36.8 bln RUB (positive), 3.9% of market cap
- EV/EBITDA multiple is 1.5x compared to historical level (50th percentile) of 2.5x

------------------------------------------------

2025-05-30

#NMTP #reports

NMTP reported for 2025 q1:
- Revenue +2.7% YoY (vs -1.1% in previous quarter and historical rate +11.2%)
- EBITDA +14.2% YoY (vs +29.4% in previous quarter and historical rate +15.1%)
- Net Income -4.6% YoY (vs +25.1% in previous quarter and historical rate +11.1%)
- EBITDA margin 80.9% increased compared to 72.7% same period last year
- Net Debt increased by 14.2 bln rubles since the previous report (7.9% of market cap)
- FCF (LTM) +18.1 bln RUB (positive), 10.1% of market cap
- EV/EBITDA multiple is 3.3x compared to historical level (50th percentile) of 4.4x

------------------------------------------------

2025-05-30

#GAZP #reports

Gazprom reported for 2025 q1:
- Revenue +10.4% YoY (vs +38.0% in previous quarter and historical rate +4.2%)
- EBITDA -20.3% YoY (vs +3941.2% in previous quarter and historical rate +4.1%)
- Net Income +2.5% YoY (vs +100.0% in previous quarter and historical rate -28.2%)
- EBITDA margin 20.7% decreased compared to 28.7% same period last year
- Net Debt increased by 158.1 bln rubles since the previous report (5.0% of market cap)
- FCF (LTM) -644.4 bln RUB (negative), 20.6% of market cap
- EV/EBITDA multiple is 3.5x compared to historical level (50th percentile) of 4.1x
- EV/EBITDA expected multiple is 4.3x

Growth potential decreased by 134.9% to -72.6%

------------------------------------------------

2025-05-30

#AFLT #reports

Aeroflot reported for 2025 q1:
- Revenue +9.6% YoY (vs +28.7% in previous quarter and historical rate +19.1%)
- EBITDA -17.3% YoY (vs -53.8% in previous quarter and historical rate +40.8%)
- Net Income +2323.6% YoY (vs -105.1% in previous quarter and historical rate +212.4%)
- EBITDA margin 25.8% decreased compared to 34.2% same period last year
- Net Debt decreased by 84.7 bln rubles since the previous report (31.4% of market cap)
- FCF (LTM) +113.4 bln RUB (positive), 42.1% of market cap
- EV/EBITDA multiple is 3.8x compared to historical level (50th percentile) of 4.9x

------------------------------------------------

2025-05-30

#SFIN #reports

SFI Holding reported for 2025 q1:
- Revenue +25.6% YoY (vs +42.8% in previous quarter and historical rate +38.0%)
- Net Income -44.1% YoY (vs +12.1% in previous quarter and historical rate +61.5%)
- Net Income margin 32.5% decreased compared to 72.9% same period last year
- P/E multiple is 3.8x compared to historical level (50th percentile) of 3.9x

------------------------------------------------

2025-05-30

#IRAO #reports

Inter RAO reported for 2025 q1:
- Revenue +12.6% YoY (vs +17.3% in previous quarter and historical rate +12.0%)
- EBITDA +1.9% YoY (vs -8.2% in previous quarter and historical rate +0.8%)
- Net Income -1.6% YoY (vs +9.0% in previous quarter and historical rate +10.8%)
- EBITDA margin 11.2% decreased compared to 12.4% same period last year
- Net Debt increased by 59.4 bln rubles since the previous report (16.1% of market cap)
- FCF (LTM) -99.8 bln RUB (negative), 27.1% of market cap
- EV/EBITDA multiple is 1.6x compared to historical level (50th percentile) of 0.9x

------------------------------------------------

2025-05-29

#SFIN #reports

SFI Holding reported for 2024 q4:
- Revenue +42.8% YoY (vs +57.4% in previous quarter and historical rate +39.1%)
- Net Income +12.1% YoY (vs -33.3% in previous quarter and historical rate +71.1%)
- Net Income margin 21.5% decreased compared to 27.3% same period last year
- P/E multiple is 3.1x compared to historical level (50th percentile) of 3.9x

------------------------------------------------

2025-05-29

#HYDR #reports

Rushydro reported for 2025 q1:
- Revenue +14.1% YoY (vs +32.0% in previous quarter and historical rate +13.6%)
- EBITDA +31.8% YoY (vs +55.9% in previous quarter and historical rate +33.6%)
- Net Income +14.2% YoY (vs -244.2% in previous quarter and historical rate -48.4%)
- EBITDA margin 30.8% increased compared to 26.6% same period last year
- Net Debt increased by 21.3 bln rubles since the previous report (10.5% of market cap)
- FCF (LTM) -184.5 bln RUB (negative), 91.2% of market cap
- EV/EBITDA multiple is 4.3x compared to historical level (50th percentile) of 6x

------------------------------------------------

2025-05-28

#RENI #reports

Renessans reported for 2025 q1:
- Revenue +22.6% YoY (vs +36.2% in previous quarter and historical rate +21.1%)
- Net Income -16.7% YoY (vs +775.3% in previous quarter and historical rate +51.9%)
- Net Income margin 6.2% decreased compared to 9.2% same period last year
- P/E multiple is 5.6x compared to historical level (50th percentile) of 4.8x

------------------------------------------------

2025-05-28

#OZPH #reports

Ozon Pharm reported for 2025 q1:
- Revenue +45.2% YoY (vs +23.8% in previous quarter and historical rate +18.8%)
- EBITDA +136.3% YoY (vs -1.4% in previous quarter and historical rate +34.1%)
- Net Income +28% YoY (vs -15.7% in previous quarter and historical rate +58.3%)
- EBITDA margin 50.0% increased compared to 30.7% same period last year
- Net Debt increased by 0.6 bln rubles since the previous report (1.1% of market cap)
- FCF (LTM) -2.6 bln RUB (negative), 5.0% of market cap
- EV/EBITDA multiple is 5.6x compared to historical level (50th percentile) of 6.1x

------------------------------------------------

2025-05-28

#MRKU #reports

IDGC Ural reported for 2025 q1:
- Revenue +6.6% YoY (vs +84.2% in previous quarter and historical rate +10.4%)
- EBITDA -2.7% YoY (vs +107.1% in previous quarter and historical rate +25.7%)
- Net Income -46.7% YoY (vs +100.0% in previous quarter and historical rate +50.7%)
- EBITDA margin 23.1% decreased compared to 25.3% same period last year
- Net Debt increased by 1 bln rubles since the previous report (3.0% of market cap)
- FCF (LTM) -4.4 bln RUB (negative), 13.6% of market cap
- EV/EBITDA multiple is 2.2x compared to historical level (50th percentile) of 2.3x

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2025-05-28

#LEAS #reports

Europlan reported for 2025 q1:
- Revenue +19.5% YoY (vs +32.1% in previous quarter and historical rate +31.2%)
- Net Income -68.5% YoY (vs -13.4% in previous quarter and historical rate +12.0%)
- Net Income margin 13.1% decreased compared to 49.6% same period last year
- P/E multiple is 6x compared to historical level (50th percentile) of 5.4x

------------------------------------------------

2025-05-27

#AKRN #reports

Acron reported for 2025 q1:
- Revenue +30.3% YoY (vs +12.8% in previous quarter and historical rate -0.5%)
- EBITDA +6.7% YoY (vs +117.7% in previous quarter and historical rate -8.0%)
- Net Income +123.8% YoY (vs +1.2% in previous quarter and historical rate +31.3%)
- EBITDA margin 23.3% decreased compared to 28.4% same period last year
- Net Debt decreased by 3.9 bln rubles since the previous report (0.6% of market cap)
- FCF (LTM) -10.6 bln RUB (negative), 1.6% of market cap
- EV/EBITDA multiple is 11.5x compared to historical level (50th percentile) of 8.8x
- EV/EBITDA expected multiple is 11.4x

Growth potential decreased by 7.3% to -37.7%

------------------------------------------------

2025-05-26

#MRKY #reports

IDGC South reported for 2025 q1:
- Revenue +49% YoY (vs +12.3% in previous quarter and historical rate +8.5%)
- EBITDA +39.7% YoY (vs +134.6% in previous quarter and historical rate +61.1%)
- Net Income +62.4% YoY (vs +100.0% in previous quarter and historical rate +67.3%)
- EBITDA margin 16.5% decreased compared to 17.6% same period last year
- Net Debt decreased by 0.2 bln rubles since the previous report (3.5% of market cap)
- FCF (LTM) +0.2 bln RUB (positive), 4.1% of market cap
- EV/EBITDA multiple is 1.8x compared to historical level (50th percentile) of 3.5x

------------------------------------------------

2025-05-26

#MRKZ #reports

IDGC North West reported for 2024 q4:
- Revenue +31.8% YoY (vs +70.9% in previous quarter and historical rate +15.5%)
- EBITDA +38.5% YoY (vs +155800.0% in previous quarter and historical rate +34.8%)
- Net Income -241.7% YoY (vs -44.8% in previous quarter and historical rate -28.5%)
- EBITDA margin 20.8% increased compared to 19.8% same period last year
- Net Debt decreased by 0.5 bln rubles since the previous report (8.5% of market cap)
- FCF (LTM) +4.2 bln RUB (positive), 67.2% of market cap
- EV/EBITDA multiple is 1.3x compared to historical level (50th percentile) of 3.7x

------------------------------------------------

2025-05-26

#MRKY #reports

IDGC South reported for 2024 q4:
- Revenue +12.3% YoY (vs +20.8% in previous quarter and historical rate +3.5%)
- EBITDA +134.6% YoY (vs +8.9% in previous quarter and historical rate +74.4%)
- Net Income +100% YoY (vs 0.0% in previous quarter and historical rate +56.9%)
- EBITDA margin 43.6% increased compared to 20.9% same period last year
- Net Debt increased by 1 bln rubles since the previous report (16.6% of market cap)
- FCF (LTM) -1.2 bln RUB (negative), 20.5% of market cap
- EV/EBITDA multiple is 2x compared to historical level (50th percentile) of 3.5x

------------------------------------------------

2025-05-26

#MRKU #reports

IDGC Ural reported for 2024 q4:
- Revenue +84.2% YoY (vs -1.6% in previous quarter and historical rate +9.8%)
- EBITDA +107.1% YoY (vs -3.8% in previous quarter and historical rate +24.9%)
- Net Income +100% YoY (vs -10.8% in previous quarter and historical rate +58.6%)
- EBITDA margin 11.9% increased compared to 10.6% same period last year
- EV/EBITDA multiple is 2.1x compared to historical level (50th percentile) of 2.3x

------------------------------------------------

2025-05-26

#MRKZ #reports

IDGC North West reported for 2025 q1:
- Revenue +31.8% YoY (vs +56.6% in previous quarter and historical rate +14.3%)
- EBITDA +38.5% YoY (vs +266100.0% in previous quarter and historical rate +34.8%)
- Net Income -18.1% YoY (vs -44.8% in previous quarter and historical rate -8.9%)
- EBITDA margin 20.8% increased compared to 19.8% same period last year
- Net Debt decreased by 2.8 bln rubles since the previous report (45.3% of market cap)
- FCF (LTM) +4.2 bln RUB (positive), 66.7% of market cap
- EV/EBITDA multiple is 1.1x compared to historical level (50th percentile) of 3.7x

------------------------------------------------

2025-05-26

#MRKV #reports

IDGC Volga reported for 2024 q4:
- Revenue +52.6% YoY (vs +13.8% in previous quarter and historical rate +15.8%)
- EBITDA +61.1% YoY (vs +82.2% in previous quarter and historical rate +36.9%)
- Net Income -31.1% YoY (vs +191.2% in previous quarter and historical rate +6.4%)
- EBITDA margin 16.2% increased compared to 15.4% same period last year
- Net Debt decreased by 2.9 bln rubles since the previous report (16.9% of market cap)
- FCF (LTM) +1.3 bln RUB (positive), 7.7% of market cap
- EV/EBITDA multiple is 1.2x compared to historical level (50th percentile) of 1.6x

General information

Sistema PJSC FC is a publicly-listed investment company incorporated in Russia. The Company owns a diverse set of public and private companies which it holds in two distinct portfolios: Core assets and Developing assets.

Dividend yield for the last twelve months 3.1%
Free cash flow yield 135.4% (LTM)
Share price is 61.5% higher than minimum and 44.4% lower than maximum for the last 3 years
The company is undervalued by EV / LTM EBITDA multiple compared to target level (4.3x vs
)

Key Financials (Download financials)

Ticker: AFKS

Share price, RUB: (-2.2%)16.592

year average price 15.30

year start price 16.13 2024-08-29

min close price 11.72 2024-12-16

max close price 19.41 2025-03-17

current price 16.59 2025-08-28

Common stocks: 9 650 000 000

Dividend Yield: 3.1%

FCF Yield LTM: 135.4%

EV / LTM EBITDA:4.3x

EV / EBITDA annualized: 3.8x

Target EV / EBITDA (hist percentile):

Express share price potential:

EV / LTM EBITDA mutiple calculation

Market Cap (m RUB): 160 113

Net Debt (m RUB): 1 330 159

EV (Enterprise Value): 1 490 272

EBITDA LTM (m RUB): 349 579

Net Income LTM (m RUB): -90 680

EV / LTM EBITDA: 4.3x

Net Debt / LTM EBITDA (if EBITDA > 0): 3.8x

Average daily trading volume for the week, RUB mln: 652

EBITDA margin ann-d 30.1%

Net income margin ann-d -12.7%

Revenue and EBITDA

Quarterly 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

Valuation through assets (as of the end of 2024 q4)

Sistema PJSC FC has stakes in the following companies

Company	Ticker	Share	Cap	Owned	EBITDA LTM	Net Debt
Segezha Group	SGZH	72.0%	128 580	92 577	10 010	161 330
MTS	MTSS	50.3%	375 226	188 739	214 991	477 079
OZON	OZON	32.4%	914 831	296 405
Etalon	ETLN	50.1%	22 240	11 142	24 632	173 081
Element	ELMT	42.9%	64 884	27 863
Influence at AFKS				616 726	249 633	811 490

	mln RUB

Net Debt AFKS	1 703 381
Net Debt in listed companies	811 490
Net Debt in not listed companies	891 891

EBITDA LTM AFKS	330 000
EBITDA LTM in listed companies	249 633
EBITDA LTM in not listed companies	80 367
EV evaluation in not listed companies (x5)	401 835

Binnopharm Cap revaluation	41 600

Cap in not listed companies	-448 456
Cap in listed companies	616 726

AFKS Cap evaluation through assets	168 270
AFKS Cap	160 113

Current price discount	4.8%
Historical price discount	7.9%

Growth potential (0.921 / 0.952 - 1)	-3.2%

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Potential and Created Value,
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