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General information

Aeroflot - Russian Airlines PJSC provides airline services. The Company offers flight information, car rentals, online check-in, fleet management, and cargo handling services. Aeroflot - Russian Airlines serves passengers worldwide.
  • Dividend yield for the last twelve months 14.7%
  • Free cash flow yield -24.3% (LTM)
  • Share price is 24.0% higher than minimum and 53.5% lower than maximum for the last 3 years
  • The company is overvalued by EV / LTM EBITDA multiple compared to target level (3.3x vs
    )

Key Financials (Download financials)

Ticker: AFLT
Share price, RUB:  (+1.4%)35.93
year average price 46.57  


year start price 50.10 2025-10-15

max close price 60.23 2025-12-18

min close price 28.98 2026-07-17

current price 36.08 2026-10-14
Common stocks: 3 975 771 215

Dividend Yield:  14.7%
FCF Yield LTM: -24.3%
EV / LTM EBITDA:3.3x
EV / EBITDA annualized: 3.0x
Target EV / EBITDA (hist percentile):
EV / LTM EBITDA mutiple calculation
Market Cap (m RUB): 142 849
Net Debt (m RUB): 495 141
EV (Enterprise Value): 637 990
EBITDA LTM (m RUB): 194 423
Net Income LTM (m RUB): 30 630
EV / LTM EBITDA: 3.3x
Net Debt / LTM EBITDA (if EBITDA > 0): 2.5x
Average daily trading volume for the week, RUB mln: 749
[auto extract] P / E 4.7x
[auto extract] P / E ann-d3.1x
[auto extract] P / B 4.9x
EBITDA margin ann-d 23.0%
Net income margin ann-d 5.0%

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

Фьючерсы
Название Инструмент Дата экспирации Последняя цена За день Дневной объем млн руб Цена акции Контанго / бэквордация Annualized
Фьючерсный контракт AFLT-12.26 AFZ6 2026-12-18 3689.00 +1.5% 152.5 35.92 +2.7% +16.1%
Фьючерсный контракт AFLT-3.27 AFH7 2027-03-19 3765.00 +1.3% 0.9 35.92 +4.8% +11.6%
MSFO data *The values are shown in mln. The % change shows the difference from the same period last year

View as Pivot Table       Export as Pivot Table (xlsx)



Income


Q Revenue Gross profit Operating income Net income PercentProfit PercentLoss
 
2026 q2 228 644+2%   24 269-62% 11 376-76% 5 464-59% -15 704+9%
2026 q1 201 109+6%   1 716-91% -11 937<-100% 3 031-91% -19 465+37%
2025 q4 ( 15075 , 15133 ) 225 778+3%   -5 194<-100% -1 700-65% 11 911<-100% -10 876+74%
2025 q3 261 702+1%   61 207>+200% 32 891+86% 5 567-17% -20 899-18%
2025 q2 224 539>+200%   63 523+65% 47 436+15% 13 300-52% -14 462-7%
2025 q1 ( 10023 , 10991 ) 190 242+10%   19 102-38% 26 878>+200% 32 638>+200% -14 230-56%
2024 q4 ( 9359 , 9410 ) 220 228+29%   17 074-85% -4 916<-100% -16 727<-100% -6 242<-100%
2024 q3 259 342+37%   13 280-82% 17 649<-100% 6 717+58% -25 387-70%
2024 q2 41 178-71%   38 388>+200% 41 178<-100% 27 665>+200% -15 579-80%
2024 q1 173 586+54%   30 795<-100% 1 109<-100% 4 809+44% -32 588-42%
2023 q4 171 090>+200%   111 693 97 301 4 448 8 093
2023 q3 188 928+41%   73 491+105% -9 322-21% 4 246-54% -84 962+47%
2023 q2 139 697+72%   2 362-77% -55 507<-100% 3 934-98% -76 555>+200%
2023 q1 112 479   -5 293 -46 493 3 340 -56 636
2022 q4 14 593-89%          
2022 q3 133 652-20%   35 785+53% -11 765<-100% 9 265>+200% -57 617>+200%
2022 q2 81 132-32%   10 479+98% 201 686<-100% 261 224>+200% -20 083+101%
2021 q4 129 513+91%   -13 029-63% -18 358-58% 3 467>+200% -10 958+9%
2021 q3 167 072+97%   23 396<-100% 11 635<-100% 3 047+178% -10 617-20%
2021 q2 119 650>+200%   5 290<-100% -2 594-93% 3 164>+200% -10 004-17%
2021 q1 75 498-39%   -20 672+57% -25 143+12% 2 653+40% -9 828-17%
2020 q4 67 969-56%   -35 398>+200% -43 802>+200% 909<-100% -10 057+2%
2020 q3 84 861-60%   -10 636<-100% -21 136<-100% 1 097-43% -13 238-7%
2020 q2 25 458-85%   -32 963<-100% -35 786<-100% 1 035-56% -12 115-9%
2020 q1 123 894-10%   -13 156+123% -22 484+43% 1 897+26% -11 842-19%
2019 q4 153 898+6%   -1 032-83% -6 764-82% -332<-100% -9 852-76%
2019 q3 212 543+6%   47 077-5% 29 089+124% 1 934+8% -14 295-56%
2019 q2 173 399+13%   20 517-1% 6 933<-100% 2 378+18% -13 356-71%
2019 q1 138 041+23%   -5 899+85% -15 746+51% 1 506-22% -14 547+46%
2018 q4 145 225+13%   -6 231>+200% -38 313>+200% 1 063+37% -40 628>+200%
2018 q3 200 523+18%   49 514+45% 12 997-46% 1 790+14% -32 362>+200%
2018 q2 153 880+17%   20 649+63% -19 963<-100% 2 020-28% -45 466>+200%
2018 q1 111 942+9%   -3 196-35% -10 415+95% 1 943-1% -9 938>+200%
2017 q4 128 159-22%   -1 450<-100% -4 091>+200% 778-67% -1 895-16%
2017 q3 169 915+8%   34 164-22% 24 261-41% 1 566-86% -2 171-10%
2017 q2 131 735+18%   12 633+9% 8 229>+200% 2 812-29% -2 121-16%
2017 q1 103 125>+200%   -4 936 -5 339<-100% 1 971 -2 038
2016 q4 163 391-91%   3 977 -1 254-99% 2 391 -2 244
2016 q3 157 482+18%   43 676+41% 41 331>+200% 11 075+113% -2 419-81%
2016 q2 ( 49 , 50 ) 111 912>+200%   11 625 1 234>+200% 3 945 -2 537
2016 q1 11 616-89%     3-98%    
2015 q4 1 921 463>+200%     -83 833<-100%    
2015 q3 133 043   30 942 5 367<-100% 5 202 -13 051
2015 q2 2 068+100%     3-97%    
2015 q1 109 011+55%     158<-100%    
2014 q4 83 210+25%   3 987>+200% 6 695<-100% 388-7% -9 061>+200%
2014 q3       -29 583<-100%    
2014 q2 ( 56 , 57 ) 0<-100%   -692<-100% 105>+200% 1 308+32% -1 217-63%
2014 q1 70 141+9%   -692-79% -953<-100% 1 308 -1 217
2013 q4 66 347   707 -4 940<-100% 417 -2 151
2013 q3 94 172+23%   21 688+112% 17 192>+200% 862-68% -1 203+6%
2013 q2 64 090+16%   2 591<-100% 23-80% 990 -3 308
2013 q1 64 090   -3 308 23-80%    
2012 q4       251-93%    
2012 q3 76 485   10 215 4 559>+200% 2 663 -1 134
2012 q2 55 375   -1 085 110-98%    
2012 q1       110    
2011 q4       3 610    
2011 q3       67    
2011 q2       5 272>+200%    
2010 q2       274+24%    
2010 q1       274    
2009 q3       2 340>+200%    
2009 q2       221    
2008 q3       682    


Balance


Implied interest rate for 2026 q2:
= (PercentLoss - PercentProfit) * (365 / periodLength) / (NetDebt - MinorityInterest)
= (15 704 - 5 464) * 4 / (495 141 - -15 823)

Q Total equity Total assets Net debt Implied interest rate NetDebt / LTM EBITDA
 
2026 q2 29 110+46% 1 101 2500% 495 141+8% 8.0% 2.55x
2026 q1 34 115<-100% 1 136 768+4% 525 760+6% 12.1% 2.25x
2025 q4 ( 15075 , 15133 ) 50 706<-100% 1 126 499-3% 518 989-11% -0.8% 2.05x
2025 q3 46 151<-100% 1 141 6840% 515 299-7% 11.5% 1.86x
2025 q2 19 981<-100% 1 099 3330% 459 704-16% 1.0% 2.01x
2025 q1 ( 10023 , 10991 ) -14 442-85% 1 092 402-2% 495 946-19% -14.4% 2.44x
2024 q4 ( 9359 , 9410 ) -72 497-27% 1 156 896+4% 580 634-4%   2.72x
2024 q3 -52 465-73% 1 138 089+3% 552 643-6% 13.1% 2.06x
2024 q2 -56 467-70% 1 102 302+4% 546 778+12% -8.6% 1.80x
2024 q1 -97 645 1 110 270 608 640 17.9% 2.21x
2023 q4 -98 754 1 114 014 602 743   2.51x
2023 q3 -195 996 1 107 334 588 071 53.8% 3.46x
2023 q2 -186 613 1 059 786 489 614 57.8% 4.12x
2023 q1         4.76x
2022 q4         5.35x
2022 q3         6.25x
2022 q2         5.19x
2021 q4 -146 438+27% 1 109 450+9% 693 650+7% 4.3% 6.03x
2021 q3 -120 980-35% 1 100 429+8% 679 228-7% 4.4% 7.50x
2021 q2 -130 625+26% 1 064 546+9% 658 448+2% 4.1% 11.72x
2021 q1 -150 246+26% 995 748-5% 662 935-6% 4.3% 31.80x
2020 q4 -115 346<-100% 1 016 204+9% 645 638+18% 5.6% 24.83x
2020 q3 -185 701>+200% 1 014 343+6% 731 673+29% 6.6% 12.75x
2020 q2 -103 730>+200% 975 6900% 644 455+17% 6.9% 5.85x
2020 q1 -119 018+165% 1 050 280+6% 705 201+18% 5.6% 4.43x
2019 q4 1 950-96% 933 318+195% 546 863>+200%   3.25x
2019 q3 -7 153<-100% 959 287+185% 567 885>+200% 8.8% 4.45x
2019 q2 -27 576<-100% 976 881+169% 552 201<-100% 8.0% 5.84x
2019 q1 -44 933<-100% 995 243+197% 599 418>+200% 8.7% 6.72x
2018 q4 45 335-33% 316 626-2% 68 613+35% 237.8% 7.39x
2018 q3 64 843-7% 336 795+2% 38 523-22% 340.6% 0.35x
2018 q2 37 545+31% 362 606+4% -353<-100%   -0.02x
2018 q1 58 368 335 365 29 941 112.1% 0.50x
2017 q4 67 299+65% 323 330+8% 50 725-51% 9.1% 1.23x
2017 q3 69 804+72% 329 7220% 49 220-52% 5.1% 1.33x
2017 q2 28 669<-100% 347 623+6% 39 754-66% -6.6%  
2017 q1          
2016 q4 40 769<-100% 299 307-5% 103 624-45% -0.6%  
2016 q3 40 653<-100% 329 802+9% 102 146-40% -33.3%  
2016 q2 ( 49 , 50 ) -3 974-55% 328 491+8% 118 345-11% -4.7%  
2016 q1          
2015 q4 -36 120+167% 315 194+13% 187 972+12%    
2015 q3 -21 653<-100% 301 728+20% 169 092+88% 17.5%  
2015 q2 -8 763<-100% 304 137+18% 132 345+84%    
2015 q1          
2014 q4 -13 505<-100% 277 718+33% 167 250+155% 19.6%  
2014 q3 47 737-26% 251 266+15% 90 166+46%    
2014 q2 ( 56 , 57 ) 49 637+5% 257 877+17% 72 020+10% -0.4%  
2014 q1          
2013 q4 54 480+10% 209 184+10% 65 603+4% 9.7%  
2013 q3 64 399+20% 218 491+15% 61 734+4% 2.1%  
2013 q2 47 166+9% 219 626+23% 65 200+26% 13.2%  
2013 q1          
2012 q4 49 395 189 707 63 277    
2012 q3 53 694 189 364 59 367 -9.7%  
2012 q2 43 226 178 430 51 726    
2012 q1          
2011 q4          
2011 q3          
2011 q2          
2010 q2 28 233 140 000 44 942    
2010 q1          
2009 q3 34 712 119 889 41 194    
2009 q2          
2008 q3          


Cashflow


Q Operating cashflow Investing cashflow Financial cashflow
 
2026 q2 47 952-8% -17 338-78% -51 328<-100%
2026 q1 24 612-53% 8 687<-100% -8 096-66%
2025 q4 ( 15075 , 15133 ) 37 472-26% -33 460+61% -18 583-45%
2025 q3 22 927-16% -55 241<-100% 27 373<-100%
2025 q2 52 076-26% -80 037+123% 9 841<-100%
2025 q1 ( 10023 , 10991 ) 51 958-7% -17 073-17% -23 871-39%
2024 q4 ( 9359 , 9410 ) 50 483-29% -20 773-51% -33 882-8%
2024 q3 27 290-26% 2 459-60% -32 490-12%
2024 q2 70 284+103% -35 920+16% -38 860<-100%
2024 q1 55 780+59% -20 683<-100% -38 858+106%
2023 q4 70 613>+200% -42 661>+200% -36 896+65%
2023 q3 36 800+97% 6 214+116% -36 998>+200%
2023 q2 34 596+184% -30 848<-100% 8 831<-100%
2023 q1 35 187 3 114 -18 833
2022 q4 19 836+4% -5 365<-100% -22 299+16%
2022 q3 18 641-1% 2 873<-100% -11 032-73%
2022 q2 12 198-70% 10 123>+200% -11 478-34%
2021 q4 19 140<-100% 3 358+60% -19 143<-100%
2021 q3 18 811+32% -1 561-85% -41 160+171%
2021 q2 40 871>+200% 2 645<-100% -17 337<-100%
2021 q1 16 024+16% -3 535-2% -33 107<-100%
2020 q4 -10 284<-100% 2 094<-100% 69 268<-100%
2020 q3 14 256-52% -10 577-50% -15 163-55%
2020 q2 5 226-90% -1 811-77% 8 815<-100%
2020 q1 13 818-68% -3 621-64% 3 947<-100%
2019 q4 25 493<-100% -7 349-6% -19 975-45%
2019 q3 29 959-11% -21 045+41% -33 946-39%
2019 q2 53 629-28% -7 765+110% -46 361+96%
2019 q1 43 144>+200% -9 986<-100% -15 204-35%
2018 q4 -16 586+124% -7 846<-100% -36 545>+200%
2018 q3 33 614>+200% -14 930>+200% -55 415+78%
2018 q2 74 443+152% -3 699<-100% -23 677>+200%
2018 q1 10 291-51% 7 471+112% -23 550>+200%
2017 q4 -7 418<-100% 4 965+67% -3 478-83%
2017 q3 4 562-76% -2 096<-100% -31 162+57%
2017 q2 29 490-22% 7 980<-100% -7 574-64%
2017 q1 20 798 3 520<-100% -4 607-78%
2016 q4 9 837-44% 2 969<-100% -19 884>+200%
2016 q3 19 397+13% 6 578<-100% -19 883+86%
2016 q2 ( 49 , 50 ) 37 641 -5 249+47% -20 845>+200%
2016 q1   -5 249 -20 845>+200%
2015 q4 17 416 -14 029>+200% -5 268+44%
2015 q3 17 167 -7 135>+200% -10 682+72%
2015 q2   -3 578 -6 858+59%
2015 q1     -6 858+59%
2014 q4   -4 623 -3 668
2014 q3   -1 644>+200% -6 213+4%
2014 q2 ( 56 , 57 )     -4 316-38%
2014 q1     -4 316-38%
2013 q4      
2013 q3 8 958+37% -353<-100% -5 958+29%
2013 q2 10 586+19% 567<-100% -6 968+44%
2013 q1 10 586 567<-100% -6 968+44%
2012 q4     -3 103+123%
2012 q3 6 543 647<-100% -4 630+122%
2012 q2 8 912 -1 486-63% -4 834+124%
2012 q1   -1 486 -4 834
2011 q4     -1 390
2011 q3   -3 775 -2 088
2011 q2   -3 980 -2 156
2010 q2      
2010 q1      
2009 q3      
2009 q2      
2008 q3      
RSBU data *The values are shown in mln. The % change shows the difference from the same period last year

View as Pivot Table       Export as Pivot Table (xlsx)



Income


Q Revenue Gross profit Operating income Net income PercentProfit PercentLoss
 
2026 q2 193 216+3% -8 749<-100% -15 530<-100% 11 984-77% 1 735-53% -11 186+19%
2026 q1 172 344+6% -3 545-52% -9 178-26% -12 571<-100% 1 554-36% -11 766+40%
2025 q4 191 829+3% -9 834<-100% -18 798>+200% -6 786+55% 1 890-53% -11 164+23%
2025 q3 218 419+2% 20 401-30% 14 565-40% 22 050<-100% 2 827-10% -10 801+22%
2025 q2 187 030+12% 8 094+5% 2 121-22% 51 205+21% 3 696+44% -9 439-1%
2025 q1 163 123+12% -7 407<-100% -12 478>+200% 56 569<-100% 2 418-18% -8 429-13%
2024 q4 186 774+33% 6 559+109% -359-82% -4 370<-100% 4 044+34% -9 044-20%
2024 q3 214 123+41% 29 122+118% 24 112+160% -8 974-31% 3 151+29% -8 863-32%
2024 q2 166 947+47% 7 717<-100% 2 717<-100% 42 227<-100% 2 559+12% -9 567-16%
2024 q1 145 084+58% 1 462<-100% -2 781-71% -6 925-79% 2 956+84% -9 651-7%
2023 q4 140 195+70% 3 133<-100% -1 982-67% 65 180<-100% 3 021+62% -11 371+41%
2023 q3 151 908+36% 13 352<-100% 9 269<-100% -12 956-42% 2 439+30% -13 072+38%
2023 q2 113 429+64% -3 314-85% -7 361-74% -47 998<-100% 2 295+56% -11 387+4%
2023 q1 91 980 -5 898 -9 683 -33 682 1 607 -10 332
2022 q4 82 443-22% -1 592-78% -6 093-63% -72 693>+200% 1 865+89% -8 047>+200%
2022 q3 111 569+3% -4 127<-100% -9 202+49% -22 337<-100% 1 872+111% -9 451>+200%
2022 q2 69 368 -22 112 -28 726 40 358 1 474 -10 977
2021 q4 105 606+100% -7 160-72% -16 441-51% -10 734-65% 989+1% -1 971+34%
2021 q3 108 571+97% 2 133<-100% -6 174-77% 731<-100% 888+127% -1 817+64%
2021 q1 58 873-42% -23 470+5% -30 423-3% -24 902+54% 775>+200% -1 483>+200%
2020 q4 52 816-59% -25 694>+200% -33 665+161% -30 972>+200% 976>+200% -1 469>+200%
2020 q3 55 246-67% -20 402<-100% -26 605<-100% -23 261<-100% 391+45% -1 111<-100%
2020 q2 20 837-85% -33 474<-100% -39 107>+200% -26 156<-100% 374-23% -1 041>+200%
2020 q1 100 867-12% -22 398+18% -31 224+3% -16 139-4% 142-61% -260>+200%
2019 q4 129 604+5% -1 000-93% -12 923-49% -1 960-85% 134-72% -102
2019 q3 169 300+4% 26 284-5% 15 242-7% 21 367-6% 270-67% 0
2019 q2 138 837+11% 2 521+7% -8 811+4% 2 730+74% 483-50% -34
2019 q1 114 026+21% -19 013+64% -30 303+43% -16 850+93% 360-42% -51
2018 q4 123 356+16% -13 382<-100% -25 288+72% -12 830<-100% 478-41%  
2018 q3 162 184+14% 27 625-20% 16 392-29% 22 809-7% 827-22%  
2018 q2 124 963+13% 2 365-81% -8 462<-100% 1 568-78% 960-29%  
2018 q1 94 195+7% -11 594>+200% -21 255+92% -8 750+86% 621-38%  
2017 q4 105 957 1 644 -14 670 1 508 812 0
2017 q3 142 506 34 491 23 056 24 629 1 066 -55
2017 q2 110 408 12 275 1 134 7 010 1 354 -344
2017 q1 87 779 -2 029 -11 053 -4 704 1 004 -402


Balance


Implied interest rate for 2026 q2:
= (PercentLoss - PercentProfit) * (365 / periodLength) / (NetDebt - MinorityInterest)
= (11 186 - 1 735) * 4 / (130 793 - 0)

Q Total equity Total assets Net debt
 
2026 q2 5 126-55% 894 459-1% 130 793>+200%
2026 q1 14 174 924 420-8% 147 384<-100%
2025 q4 26 745<-100% 933 998-2% 146 408<-100%
2025 q3 33 531 931 658 110 691
2025 q2 11 482<-100% 902 748-2% 34 800<-100%
2025 q1   999 791+7% 1 072 725 892 241>+200%
2024 q4 -75 340-23% 957 079+2% -7 944<-100%
2024 q3      
2024 q2 -61 996-59% 919 046+5% -1 097-87%
2024 q1 -104 223+7% 931 2010% 11 514+43%
2023 q4 -97 299+43% 934 268+19% 8 047-14%
2023 q3 -162 478+139% 904 202+15% 8 180-74%
2023 q2 -149 523+120% 872 476+11% -8 448<-100%
2023 q1 -97 299 934 268 8 047
2022 q4 -67 842<-100% 784 707+198% 9 332-81%
2022 q3 -67 842<-100% 784 707>+200% 31 558+10%
2022 q2 -67 842 784 707 31 558
2021 q4 7 669-86% 262 919-3% 49 525>+200%
2021 q3 29 836>+200% 261 454+27% 28 631-27%
2021 q1 28 375-47% 260 455+26% 20 010-2%
2020 q4 53 276-24% 271 035+36% 2 181-57%
2020 q3 4 171-94% 206 553+11% 39 321<-100%
2020 q2 27 432-37% 204 553+5% 28 132<-100%
2020 q1 53 588+23% 206 020+4% 20 490<-100%
2019 q4 69 726+16% 198 932+16% 5 042<-100%
2019 q3 71 686-2% 186 7370% -8 234-76%
2019 q2 43 280-24% 195 461-9% -26 051-64%
2019 q1 43 406-38% 198 767+1% -20 154-54%
2018 q4 60 256-23% 171 652-7% -12 372-64%
2018 q3 73 086-7% 186 249+1% -34 804
2018 q2 57 317-27% 215 536+17% -72 248
2018 q1 69 971-11% 197 561+7% -43 855
2017 q4 78 722 184 506 -34 094
2017 q3 78 722 184 506  
2017 q2 78 722 184 506  
2017 q1 78 722 184 506  
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