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General information

  • Good financial results growth rate 37.9% (average between last period year over year growth for revenue and EBITDA), there is slowdown compared to average historical growth rates (91.9%)
  • Dividend yield for the last twelve months 2.3%
  • Free cash flow yield -1.6% (LTM)
  • Share price is 7.4% higher than minimum and 57.5% lower than maximum for the last 3 years
  • The company is undervalued by EV / LTM EBITDA multiple compared to target level (6.0x vs
    )
  • Fundamental value created in LTM (estimate)
  • Taking into account the impact of the key rate 20.0% on the change in financial parameters: EBITDA adjustment is -37 mln rub as NetDebt * (current key rate - normalized 7%) / 2, expected EBITDA adjusted for key rate increases is 2 242 mln rub, expected mult is 6.0x, target mult is 10.8x, potential is +84.5%

Key Financials (Download financials)

Ticker: IVAT
Share price, RUB:  (+1.3%)128.4
year average price 194.76  


year start price 277.00 2024-07-06

max close price 277.00 2024-07-06

min close price 119.50 2025-05-26

current price 128.40 2025-07-05
Common stocks: 100 000 000

Dividend Yield:  2.3%
FCF Yield LTM: -1.6%
EV / LTM EBITDA:6.0x
EV / EBITDA annualized: 4.2x
Last revenue growth (y/y):  47.3%
Last growth of EBITDA (y/y):  28.5%
Historical revenue growth:  87.7%
Historical growth of EBITDA:  96.2%
Target EV / EBITDA (hist percentile):
Express share price potential:
Fundamental value created in LTM:
Fundamental value created in LTM:
 Mult Upside+79.7%
 FCF Creation-1.6%
 Growth+37.9%
 Growth Corr-54.0%
 
 Sum+62.0%
EV / LTM EBITDA mutiple calculation
Market Cap (m RUB): 12 840
Net Debt (m RUB): 473
EV (Enterprise Value): 13 313
EBITDA LTM (m RUB): 2 218
Net Income LTM (m RUB): 1 448
EV / LTM EBITDA: 6.0x
Net Debt / LTM EBITDA (if EBITDA > 0): 0.2x
Average daily trading volume for the week, RUB mln: 60
P / E 8.9x
P / E ann-d6.8x
P / B 2.5x
EBITDA margin ann-d 70.2%
Net income margin ann-d 42.0%

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

More information for subscribed users:
detailed calculation of
Potential and Created Value,
commodities affecting the company