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General information

Leading Russian developer
  • Current market environment: positive. Prices of production are 5.1% higher compared to the last 12 months (LTM)
  • Prices of production are at 83.2% percentile over the past 5 years, adjusted for inflation
  • Bad financial results growth rate -4.3% (average between last period year over year growth for revenue and EBITDA), there is slowdown compared to average historical growth rates (20.7%)
  • Dividend yield for the last twelve months 0.0%
  • Free cash flow yield -32.4% (LTM), projected -32.0%
  • Share of USD-denominated sales in revenue of the company (estimate) ≈ 0.0%
  • Share price is 79.7% higher than minimum and 40.7% lower than maximum for the last 3 years
  • The company is overvalued by EV / LTM EBITDA multiple compared to target level (11.0x vs
    )
  • Taking into account the impact of the key rate 16.0% on the change in financial parameters: EBITDA adjustment is -34 046 mln rub as NetDebt * (current key rate - normalized 7%) / 2, expected EBITDA adjusted for key rate increases is 78 215 mln rub, expected mult is 17.2x, target mult is 9.0x, potential is -109.0%

Key Financials (Download financials)

Ticker: PIKK
Share price, RUB:  (-1.5%)889.7
year average price 747.70  


year start price 660.90 2023-03-30

min close price 646.50 2023-05-08

max close price 926.80 2024-03-12

current price 889.70 2024-03-28
Common stocks: 660 500 000

Dividend Yield:  0.0%
FCF Yield LTM / expected: -32.4% / -32.0%
EV / LTM EBITDA: 11.0x
EV / EBITDA annualized: 11.0x
Last revenue growth (y/y):  -7.8%
Last growth of EBITDA (y/y):  -0.8%
Historical revenue growth:  22.2%
Historical growth of EBITDA:  19.1%
Target EV / EBITDA (hist percentile):
EV / LTM EBITDA mutiple calculation
Market Cap (m RUB): 587 647
Net Debt (m RUB): 615 936
EV (Enterprise Value): 1 203 583
EBITDA LTM (m RUB): 109 225
EV / LTM EBITDA: 11.0x
Average daily trading volume for the week, RUB mln: 1267.90

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

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

Выручка и прибыль строительных компаний в РФ по месяцам (млрд руб)

ДатаВыручкаРост выручки г/гПрибыльРост прибыли г/г
2021-11977.90.0% 0.0%
2021-121513.00.0%140.20.0%
2022-01560.40.0%37.60.0%
2022-02672.50.0%53.60.0%
2022-03806.60.0%-38.40.0%
2022-04844.70.0%86.50.0%
2022-05825.10.0%59.30.0%
2022-06972.30.0%1.80.0%
2022-071000.10.0%81.70.0%
2022-081035.70.0%52.50.0%
2022-091088.40.0%-60.60.0%
2022-101141.30.0%91.40.0%
2022-111154.8+18.1%107.6 
2022-121700.0+12.4%93.5-33.3%
2023-01715.7+27.7%141.0+275.0%
2023-02747.1+11.1%33.8-36.9%
2023-03929.9+15.3%-21.9-43.0%
2023-041030.9+22.0%106.3+22.9%
2023-051056.6+28.1%73.7+24.3%
2023-061145.2+17.8%29.5+1 538.9%
2023-071112.2+11.2%76.3-6.6%
2023-081148.9+10.9%124.7+137.5%
2023-091313.0+20.6%-75.0+23.8%
2023-101229.8+7.8%94.2+3.1%
2023-111235.1+7.0%114.5+6.4%
2023-121783.8+4.9%137.9+47.5%
2024-01799.0+11.6%  
Кол-во зарегистрированных договоров ипотечного кредитования в Москве
Месяц Первичка (ДДУ)Динамика рост г/г
2022-1211 043.0 
2023-0311 464.0 
2023-0411 633.0 
2023-0613 123.0 
2023-0814 202.0 
2023-11126 544.0 
Месяц Первичка и вторичкаДинамика рост г/г
2022-127 462.0 
2023-014 794.0 
2023-024 175.0 
2023-037 217.0 
2023-066 442.0 
2023-089 957.0 
2023-0912 286.0 
2023-1010 580.0 
2023-119 675.0 
2024-015 127.0 
Объем текущего строительства
Дата Строится, м² Динамика м/м Динамика г/г
2017-103 845 995  
2017-114 058 443+5.5% 
2017-123 923 605-3.3% 
2018-014 119 367+5.0% 
2018-023 851 917-6.5% 
2018-033 850 1350.0% 
2018-043 897 320+1.2% 
2018-054 211 744+8.1% 
2018-064 267 556+1.3% 
2018-074 351 525+2.0% 
2018-085 322 256+22.3% 
2018-096 869 020+29.1% 
2018-106 896 599+0.4%+79.3%
2018-116 780 164-1.7%+67.1%
2018-126 663 098-1.7%+69.8%
2019-016 807 550+2.2%+65.3%
2019-026 462 787-5.1%+67.8%