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General information

  • Good financial results growth rate 51.5% (average between last period year over year growth for revenue and EBITDA), there is slowdown compared to average historical growth rates (125.3%)
  • Dividend yield for the last twelve months 0.0%
  • Free cash flow yield 6.8% (LTM)
  • Share price is -0.9% higher than minimum and 2.6% lower than maximum for the last 3 years

Key Financials (Download financials)

Ticker: GLRX
Share price, RUB:  (-0.9%)62.31
Common stocks: 250 000 000

Dividend Yield:  0.0%
FCF Yield LTM: 6.8%
EV / LTM EBITDA:6.8x
EV / EBITDA annualized: 5.6x
Last revenue growth (y/y):  45.3%
Last growth of EBITDA (y/y):  57.7%
Historical revenue growth:  118.3%
Historical growth of EBITDA:  132.3%
Target EV / EBITDA (hist percentile):
 Mult Upside0.0%
 FCF Creation+6.8%
 Growth+51.5%
 Growth Corr-73.8%
 
 Sum-15.5%
EV / LTM EBITDA mutiple calculation
Market Cap (m RUB): 15 578
Net Debt (m RUB): 61 478
EV (Enterprise Value): 77 056
EBITDA LTM (m RUB): 11 367
Net Income LTM (m RUB): 2 929
EV / LTM EBITDA: 6.8x
Net Debt / LTM EBITDA (if EBITDA > 0): 5.4x
Average daily trading volume for the week, RUB mln: 274
P / E 5.3x
P / E ann-d3.3x
P / B 3.4x
EBITDA margin ann-d 36.7%
Net income margin ann-d 12.5%

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 H1 18 683+45% 7 618+29% 6 736+58% 2 335>+200% 789>+200% -4 616+26%
2024 H2 19 754+189% 7 025+55% 4 515+59% 595+32% 376>+200% -4 501+90%
2024 H1 12 862>+200% 5 896>+200% 4 258>+200% 626>+200% 191+22% -3 678>+200%
2023 H2 6 828+150% 4 533>+200% 2 834<-100% 449<-100% 86-11% -2 372>+200%
2023 H1 3 490 1 519 798 53 157 -890
2022 H2 2 727-21% 1 071+2% -169<-100% -578>+200% 96+19% -615+58%
2021 H2 3 445 1 050 169 -74 81 -390


Balance


Implied interest rate for 2025 H1:
= (PercentLoss - PercentProfit) * (365 / periodLength) / (NetDebt - MinorityInterest)
= (4 616 - 789) * 2 / (61 478 - 0)

Q Total equity Total assets Net debt Implied interest rate NetDebt / LTM EBITDA
 
2025 H1 4 612+174% 95 560+14% 61 478-2% 12.5% 5.41x
2024 H2 2 277+116% 75 215+24% 49 682+15% 16.6% 5.61x
2024 H1 1 683 83 844 62 540 11.2% 10.05x
2023 H2 1 056-50% 60 543+84% 43 237+78% 10.6% 11.51x
2023 H1         18.23x
2022 H2 2 122 32 942 24 317 4.3%  
2021 H2          


Cashflow


Q Operating cashflow Investing cashflow Financial cashflow
 
2025 H1 -3 427-74% -1 809+69% 7 474-46%
2024 H2      
2024 H1 -13 147+173% -1 072>+200% 13 944+144%
2023 H2 -11 685+106% -338-82% 11 307+55%
2023 H1 -4 814 -89 5 722
2022 H2 -5 678+22% -1 860<-100% 7 304>+200%
2021 H2 -4 670 888 1 913
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
 
2025 q2 67+23% 39+1% -24<-100% 777<-100% 489+168% -1 007+135%
2025 q1 62+36% 34-5% -10<-100% -365<-100% 396+187% -822+112%
2024 q4            
2024 q2 54 38 23 -224 182 -428
2024 q1 46 36 20 1 039 138 -387
2023 q4 39>+200% 32<-100% 21<-100% -103<-100% 69+151% -228+183%
2022 q4 3-54% -7<-100% -15>+200% 131-14% 28+11% -81+95%
2021 q4 7-27% 6-39% 0<-100% 153>+200% 25-5% -41+81%
2020 q4 10+166% 10+162% 1<-100% 1-99% 26+26% -23-5%
2019 q4 4 4 -2 68 21 -24


Balance


Implied interest rate for 2025 q2:
= (PercentLoss - PercentProfit) * (365 / periodLength) / (NetDebt - MinorityInterest)
= (1 007 - 489) * 4 / (11 964 - 0)

Q Total equity Total assets Net debt
 
2025 q2 3 222 24 488 11 964
2025 q1 2 445 19 509 10 868
2024 q4     10 971+29%
2024 q2      
2024 q1      
2023 q4 2 437-26% 13 062+65% 8 485+145%
2022 q4 3 276>+200% 7 894+101% 3 460+38%
2021 q4 221-1% 3 934-2% 2 504+21%
2020 q4 222 4 025 2 071+53%
2019 q4     1 350
More information for subscribed users:
detailed calculation of
Potential and Created Value,
commodities affecting the company