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General information

Leading Russian developer
  • Current market environment: positive. Prices of production are 11.9% higher compared to the last 12 months (LTM)
  • Prices of production are at 99.3% percentile over the past 5 years, adjusted for inflation (are close to maximum)
  • Pretty weak financial results growth rate 0.7% (average between last period year over year growth for revenue and EBITDA), there is slowdown compared to average historical growth rates (10.6%)
  • Dividend yield for the last twelve months 0.0%
  • Free cash flow yield -0.6% (LTM), projected 1.9%
  • Share of USD-denominated sales in revenue of the company (estimate) ≈ 0.0%
  • Share price is 44.3% higher than minimum and 46.2% lower than maximum for the last 3 years
  • The company is undervalued by EV / LTM EBITDA multiple compared to target level (7.9x vs
    )
  • Taking into account the impact of the key rate 21.0% on the change in financial parameters: EBITDA adjustment is -42 928 mln rub as NetDebt * (current key rate - normalized 7%) / 2, expected EBITDA adjusted for key rate increases is 89 052 mln rub, expected mult is 10.7x, target mult is 9.0x, potential is -44.6%

Key Financials (Download financials)

Ticker: PIKK
Share price, RUB:  (-2.3%)514.1
year average price 688.43  


year start price 888.70 2024-03-31

max close price 955.50 2024-06-21

min close price 356.30 2024-12-17

current price 514.10 2025-03-30
Common stocks: 660 500 000
Dividend Yield:  0.0%
FCF Yield LTM / expected: -0.6% / 1.9%
EV / LTM EBITDA: 7.9x
EV / EBITDA annualized: 8.6x
Last revenue growth (y/y):  -0.1%
Last growth of EBITDA (y/y):  1.5%
Historical revenue growth:  12.7%
Historical growth of EBITDA:  8.5%
Target EV / EBITDA (hist percentile):
 Mult Upside+24.5%
 FCF Creation-0.6%
 Growth+0.7%
 Growth Corr-9.8%
 
 Sum+14.8%
EV / LTM EBITDA mutiple calculation
Market Cap (m RUB): 339 563
Net Debt (m RUB): 617 436
EV (Enterprise Value): 956 999
EBITDA LTM (m RUB): 121 084
Net Income LTM (m RUB): 65 232
EV / LTM EBITDA: 7.9x
Net Debt / LTM EBITDA (if EBITDA > 0): 5.1x
Average daily trading volume for the week, RUB mln: 2472
P / E 5.2x
P / B 0.9x

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