Try our mobile app

General information

  • Bad financial results growth rate -9.0% (average between last period year over year growth for revenue and EBITDA), there is slowdown compared to average historical growth rates (30.6%)
  • Dividend yield for the last twelve months 0.0%
  • Free cash flow yield -391.7% (LTM)
  • Share price is -0.7% higher than minimum and 74.0% lower than maximum for the last 3 years
  • The company is overvalued by EV / LTM EBITDA multiple compared to target level (9.0x vs
    )
  • Fundamental value created in LTM (estimate)

Key Financials (Download financials)

Ticker: ETLN
Share price, RUB:  (-0.7%)27.78
year average price 45.28  


year start price 58.46 2025-05-08

max close price 61.46 2025-06-05

min close price 27.98 2026-05-06

current price 27.68 2026-05-07
Common stocks: 383 445 362

Dividend Yield:  0.0%
FCF Yield LTM: -391.7%
EV / LTM EBITDA:9.0x
EV / EBITDA annualized: 11.0x
Last revenue growth (y/y):  3.6%
Last growth of EBITDA (y/y):  -21.6%
Historical revenue growth:  27.0%
Historical growth of EBITDA:  34.3%
Target EV / EBITDA (hist percentile):
Fundamental value created in LTM:
Fundamental value created in LTM:
 Mult Upside+117.9%
 FCF Creation-391.7%
 Growth-9.0%
 Growth Corr-39.6%
 
 Sum-322.4%
EV / LTM EBITDA mutiple calculation
Market Cap (m RUB): 10 652
Net Debt (m RUB): 225 777
EV (Enterprise Value): 236 429
EBITDA LTM (m RUB): 26 383
Net Income LTM (m RUB): -22 336
EV / LTM EBITDA: 9.0x
Net Debt / LTM EBITDA (if EBITDA > 0): 8.6x
Average daily trading volume for the week, RUB mln: 45
P / B 0.4x
EBITDA margin ann-d 14.0%
Net income margin ann-d -17.6%

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

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
 
2025 H2 76 214+4% 20 512-6% -13 768+31% -13 396+147% 1 636-53% -23 315+45%
2025 H1 ( 13230 , 15375 ) 77 413+35% 20 887+7% 15 217+45% -8 940>+200% 1 392-34% -25 087+157%
2024 H2 73 586+27% 21 810+16% -10 530<-100% -5 417>+200% 3 488>+200% -16 077+119%
2024 H1 57 360+71% 19 568+74% 10 530+164% -1 497-29% 2 122>+200% -9 746+73%
2023 H2 ( 7767 , 8572 ) 57 883+21% 18 725+2% 7 948<-100% -1 251-96% 261-39% -7 334<-100%
2023 H1 33 499+2% 11 246+15% 3 993-77% -2 119<-100% 337>+200% -5 627+32%
2022 H2 47 816+1% 18 445+32% -33 360<-100% -27 901<-100% 430>+200% 4 141<-100%
2022 H1 32 740-18% 9 758-29% 17 394+169% 11 672>+200% 68+5% -4 270+15%
2021 H2 47 254-1% 13 984+23% 6 785-15% 1 712-55% 71<-100% -3 676+41%
2021 H1 ( 2973 , 2974 ) 39 884+29% 13 798+105% 6 461+193% 1 295<-100% 65-57% -3 705+28%
2020 H2 47 787+7% 11 339+17% 8 016+171% 3 807<-100% -21<-100% -2 6050%
2020 H1 30 868-22% 6 718-23% 2 202-38% -1 771<-100% 150>+200% -2 891+37%
2019 H2 ( 492 , 3839 ) 44 768+24% 9 727+21% 2 955+84% -373+7% 82-10% -2 600+87%
2019 H1 39 562 8 732 3 529 559 37 -2 113
2018 H2 36 164 8 030 1 602 -350 92 -1 391


Balance


Implied interest rate for 2025 H2:
= (PercentLoss - PercentProfit) * (365 / periodLength) / (NetDebt - MinorityInterest)
= (23 315 - 1 636) * 2 / (218 495 - 893)

Q Total equity Total assets Net debt Implied interest rate NetDebt / LTM EBITDA
 
2025 H2 29 438-55% 380 197+18% 218 495+26% 19.9% 8.56x
2025 H1 ( 13230 , 15375 ) 55 845-20% 348 169+27% 200 419+47% 23.7% 7.03x
2024 H2 64 785-27% 321 906>+200% 173 081<-100% 14.6% 7.47x
2024 H1 70 202-3% 274 393+9% 136 052+85% 11.3% 7.76x
2023 H2 ( 7767 , 8572 ) 88 544+19% 91 257-63% -170<-100%   9.38x
2023 H1 72 147-1% 251 350-1% 73 480+28% 14.4% 6.70x
2022 H2 74 189 248 045+12% 69 255   5.68x
2022 H1 73 023+15% 254 552+25% 57 551<-100% 14.7% 5.26x
2021 H2   222 098+19%     3.49x
2021 H1 ( 2973 , 2974 ) 63 371+25% 204 237+26% -40 072<-100%   1.69x
2020 H2 51 073-3% 186 519+9% 75 536>+200%   2.46x
2020 H1 50 804 162 289 74 607 23.0% 9.97x
2019 H2 ( 492 , 3839 ) 52 576 171 344+38% 21 361 23.6%  
2019 H1          
2018 H2   124 537      


Cashflow


Q Operating cashflow Investing cashflow Financial cashflow
 
2025 H2 -47 382-1% 817<-100% 45 810-7%
2025 H1 ( 13230 , 15375 ) -34 350-18% -1 175+83% 36 856-7%
2024 H2 -47 898+77% -3 927-56% 49 138+141%
2024 H1 -41 711+115% -641<-100% 39 631+91%
2023 H2 ( 7767 , 8572 ) -27 110<-100% -8 946>+200% 20 375<-100%
2023 H1 -19 421-10% 168-79% 20 801+33%
2022 H2 21 503<-100% -390 -15 656
2022 H1 -21 683+197% 806 15 656-25%
2021 H2 -14 494<-100%    
2021 H1 ( 2973 , 2974 ) -7 309+113%   20 790<-100%
2020 H2 7 746+70% 571-76%  
2020 H1 -3 428<-100% 593<-100% -3 643
2019 H2 ( 492 , 3839 ) 4 567-52% 2 415 3 381<-100%
2019 H1 12 708 -9 452  
2018 H2 9 443   -3 615
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 q1 00%   -155>+200% -127-90% 36-64% -29-23%
2025 q4 00%   -22-5% -329<-100% 103-26% -58+52%
2025 q3 0   1 650 -33 1
2025 q1 0   -6 -1 330 100 -38
2024 q4 0   -23 772 139 -38


Balance


Implied interest rate for 2026 q1:
= (PercentLoss - PercentProfit) * (365 / periodLength) / (NetDebt - MinorityInterest)
= (29 - 36) * 4 / (1 934 - 0)

Q Total equity Total assets Net debt
 
2026 q1 38 418 58 849 1 934
2025 q4 38 546 41 558 2 961+4%
2025 q3 38 570 41 563 2 960
2025 q1      
2024 q4     2 835
More information for subscribed users:
detailed calculation of
Potential and Created Value,
commodities affecting the company