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General information

Interregional Distribution Grid Co of Centrer and Volga Region PJSC distributes electrical power to residential and industrial customers.
  • Good financial results growth rate 13.3% (average between last period year over year growth for revenue and EBITDA), there is acceleration compared to average historical growth rates (10.9%)
  • Dividend yield for the last twelve months 11.0%
  • Free cash flow yield 27.0% (LTM)
  • Share price is 219.8% higher than minimum and 3.0% lower than maximum for the last 3 years
  • The company is undervalued by EV / LTM EBITDA multiple compared to target level (1.5x 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 23 mln rub as NetDebt * (current key rate - normalized 7%) / 2, expected EBITDA adjusted for key rate increases is 37 950 mln rub, expected mult is 1.3x, target mult is 1.5x, potential is +13.6%

Key Financials (Download financials)

Ticker: MRKP
Share price, RUB:  (+0.5%)0.4545
year average price 0.3449  


year start price 0.2929 2024-06-28

min close price 0.2574 2024-07-10

max close price 0.4686 2025-06-18

current price 0.4545 2025-06-27
Common stocks: 112 697 820 000
Dividend Yield:  11.0%
FCF Yield LTM: 27.0%
EV / LTM EBITDA:[с учетом прогноза: 1.3x]    1.5x
EV / EBITDA annualized: 1.1x
Last revenue growth (y/y):  11.2%
Last growth of EBITDA (y/y):  15.4%
Historical revenue growth:  12.0%
Historical growth of EBITDA:  9.9%
Target EV / EBITDA (hist percentile):
Express share price potential:
Fundamental value created in LTM:
Fundamental value created in LTM:
[с учетом прогноза фин показателей]
 Mult Upside-23.6%
 FCF Creation+16.6%
 Growth+0.7%
 Growth Corr-10.3%
 
 Sum-16.6%
EV / LTM EBITDA mutiple calculation
Market Cap (m RUB): 51 221
Net Debt (m RUB): 2 982
EV (Enterprise Value): 54 203
EBITDA LTM (m RUB): 36 592
Net Income LTM (m RUB): 17 319
EV / LTM EBITDA: 1.5x
Net Debt / LTM EBITDA (if EBITDA > 0): 0.1x
Average daily trading volume for the week, RUB mln: 115
P / E 3.0x
P / E ann-d1.8x
P / B 0.5x
EBITDA margin ann-d 31.3%
Net income margin ann-d 17.2%

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