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General information

Leading Russian developer
  • Current market environment: positive. Prices of production are 12.0% higher compared to the last 12 months (LTM)
  • Prices of production are at 99.1% percentile over the past 5 years, adjusted for inflation (are close to maximum)
  • Good financial results growth rate 26.0% (average between last period year over year growth for revenue and EBITDA), there is acceleration compared to average historical growth rates (14.3%)
  • Dividend yield for the last twelve months 0.0%
  • Free cash flow yield 36.4% (LTM), projected 39.0%
  • Share of USD-denominated sales in revenue of the company (estimate) ≈ 0.0%
  • Share price is 35.4% higher than minimum and 49.5% lower than maximum for the last 3 years
  • The company is undervalued by EV / LTM EBITDA multiple compared to target level (5.4x vs
    )
  • Taking into account the impact of the key rate 21.0% on the change in financial parameters: EBITDA adjustment is -25 772 mln rub as NetDebt * (current key rate - normalized 7%) / 2, expected EBITDA adjusted for key rate increases is 121 487 mln rub, expected mult is 5.7x, target mult is 9.0x, potential is +127.6%

Key Financials (Download financials)

Ticker: PIKK
Share price, RUB:  (-0.5%)482.5
year average price 634.02  


year start price 829.80 2024-05-21

max close price 955.50 2024-06-21

min close price 356.30 2024-12-17

current price 484.10 2025-05-20
Common stocks: 660 500 000

Dividend Yield:  0.0%
FCF Yield LTM / expected: 36.4% / 39.0%
EV / LTM EBITDA:5.4x
EV / EBITDA annualized: 4.5x
Last revenue growth (y/y):  28.1%
Last growth of EBITDA (y/y):  23.9%
Historical revenue growth:  13.4%
Historical growth of EBITDA:  15.2%
Target EV / EBITDA (hist percentile):
Express share price potential:
 Mult Upside+139.2%
 FCF Creation+36.4%
 Growth+26.0%
 Growth Corr+5.8%
 
 Sum+207.4%
EV / LTM EBITDA mutiple calculation
Market Cap (m RUB): 318 691
Net Debt (m RUB): 416 117
EV (Enterprise Value): 734 808
EBITDA LTM (m RUB): 136 792
Net Income LTM (m RUB): 28 666
EV / LTM EBITDA: 5.4x
Net Debt / LTM EBITDA (if EBITDA > 0): 3.0x
Average daily trading volume for the week, RUB mln: 1999
P / E 11.1x
P / B 0.8x
EBITDA margin ann-d 19.9%
Net income margin ann-d -3.0%

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

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