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General information

Leading nickel and PGMs producer. Recently enjoys increasing demand due to grow of electric vehicles and renewables. In 2020 faced ecological problems / is likely to pay large (over $2bn) fine, which put certain pressure on the company share prices
  • Current market environment: positive. Prices of production are 2.8% higher compared to the last 12 months (LTM)
  • Prices of production are at 19.6% percentile over the past 5 years, adjusted for inflation
  • Dividend yield for the last twelve months 0.0%
  • Free cash flow yield -1.1% (LTM), projected -2.9%
  • Share of USD-denominated sales in revenue of the company (estimate) ≈ 100.0%
  • Share price is 2.9% higher than minimum and 56.3% lower than maximum for the last 3 years
  • The company is undervalued by EV / LTM EBITDA multiple compared to target level (5.2x vs
    )
  • The company is undervalued by EV / projected EBITDA multiple compared to target level (
    vs
    )
  • Taking into account the impact of the key rate 19% on the change in financial parameters: EBITDA adjustment is -67 669 mln rub as NetDebt * (current key rate - normalized 7%) / 2, expected EBITDA adjusted for key rate increases is 392 902 mln rub, expected mult is 7x, target mult is 9x, potential is +49.3%

Key Financials (Download financials)

Ticker: GMKN
Share price, RUB:  (+2.9%)104.96
year average price 146.42  


year start price 164.32 2023-10-16

max close price 180.78 2023-11-02

min close price 102.00 2024-09-12

current price 104.96 2024-10-14
Common stocks: 15 365 000 000

Dividend Yield:  0.0%
FCF Yield LTM / expected: -1.1% / -2.9%
EV / LTM EBITDA: 5.2x
EV / EBITDA annualized: 7.3x
Production prices change from LTM: 2.8%
EV / projected EBITDA:
Target EV / EBITDA (hist percentile):
Express share price potential:
EV / LTM EBITDA mutiple calculation
Market Cap (m RUB): 1 612 710
Net Debt (m RUB): 985 650
EV (Enterprise Value): 2 598 360
EBITDA LTM (m RUB): 496 782
EV / LTM EBITDA: 5.2x
Average daily trading volume for the week, RUB mln: 1690
P / E 6.0x
P / B 0.7x

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