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General information

Leading steel producer integrated with 100% self-sufficiency in iron ore, 60% in scrap, 0% in coal. Operates plants both in Russia and US (lately unprofitable due to tariffs) and generally has quite high export share in revenue (which is on one hand positive - higher share of USD-denominated revenue, on the other hand can drop more dramatically in downturns)
  • Current market environment: positive. Prices of production are 4.0% higher compared to the last 12 months (LTM)
  • Prices of production are at 54.4% percentile over the past 5 years, adjusted for inflation
  • Dividend yield for the last twelve months 9.9%
  • Free cash flow yield 16.8% (LTM), projected 9.5%
  • Share of USD-denominated sales in revenue of the company (estimate) ≈ 0.0%
  • Share price is 237.6% higher than minimum and 7.3% lower than maximum for the last 3 years
  • The company is undervalued by EV / LTM EBITDA multiple compared to target level (5.0x vs
    )
  • The company is overvalued by EV / projected EBITDA multiple compared to target level (
    vs
    )
  • Taking into account the impact of the key rate 16.0% on the change in financial parameters: EBITDA adjustment is 10 611 mln rub as NetDebt * (current key rate - normalized 7%) / 2, expected EBITDA adjusted for key rate increases is 143 402 mln rub, expected mult is 9.0x, target mult is 5.1x, potential is -37.2%

Key Financials (Download financials)

Ticker: NLMK
Share price, RUB:  (-0.3%)255.52
year average price 196.95  


year start price 139.36 2023-05-26

min close price 139.36 2023-05-26

max close price 256.30 2024-05-23

current price 256.90 2024-05-24
Common stocks: 5 993 230 000

Dividend Yield:  9.9%
FCF Yield LTM / expected: 16.8% / 9.5%
EV / LTM EBITDA: 5.0x
EV / EBITDA annualized: 5.4x
Production prices change from LTM: 4.0%
EV / projected EBITDA:
Target EV / EBITDA (hist percentile):
Express share price potential:
EV / LTM EBITDA mutiple calculation
Market Cap (m RUB): 1 531 390
Net Debt (m RUB): -165 530
EV (Enterprise Value): 1 365 860
EBITDA LTM (m RUB): 273 284
EV / LTM EBITDA: 5.0x
Average daily trading volume for the week, RUB mln: 2078.85

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

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