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General information

Learding phospate fertilizers producer, increasing output every year and having US-denomitaed sales; subject to phosphates fertilizers volatility
  • Current market environment: positive. Prices of production are 13.6% higher compared to the last 12 months (LTM)
  • Prices of production are at 62.7% percentile over the past 5 years, adjusted for inflation
  • Dividend yield for the last twelve months 15.2%
  • Free cash flow yield 6.4% (LTM), projected 5.8%
  • Share of USD-denominated sales in revenue of the company (estimate) 75.0%
  • Share price is 71.7% higher than minimum and 24.5% lower than maximum for the last 3 years
  • The company is undervalued by EV / LTM EBITDA multiple compared to target level (6.3x 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 -10 958 mln rub as NetDebt * (current key rate - normalized 7%) / 2, expected EBITDA adjusted for key rate increases is 159 197 mln rub, expected mult is 7.0x, target mult is 6.7x, potential is -5.6%

Key Financials (Download financials)

Ticker: PHOR
Share price, RUB:  (+0.2%)6729
year average price 7073  


year start price 6724 2023-03-02

max close price 7700 2023-06-01

min close price 6522 2023-10-04

current price 6708 2024-02-29
Common stocks: 129 500 000

Dividend Yield:  15.2%
FCF Yield LTM / expected: 6.4% / 5.8%
EV / LTM EBITDA: 6.3x
EV / EBITDA annualized: 5.7x
Production prices change from LTM: 13.6%
EV / projected EBITDA:
Target EV / EBITDA (hist percentile):
Express share price potential:
EV / LTM EBITDA mutiple calculation
Market Cap (m RUB): 871 406
Net Debt (m RUB): 241 839
EV (Enterprise Value): 1 113 245
EBITDA LTM (m RUB): 175 744
EV / LTM EBITDA: 6.3x
Average daily trading volume for the week, RUB mln: 263.97

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