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General information

Leading integrated alluminum producer. Owns substantial stake in Norilsk Nickel. Subject to alluminum and power prices volatility. As the company beneficiary (O. Deripaska) remains under US sanctions, the company is not included in target portfolio, because it may be deincentivized to pay dividends which would settle on US restricted accounts
  • Current market environment: positive. Prices of production are 8.5% higher compared to the last 12 months (LTM)
  • Prices of production are at 51.2% percentile over the past 5 years, adjusted for inflation
  • Dividend yield for the last twelve months 0.0%
  • Free cash flow yield 2.6% (LTM), projected 17.9%
  • Share of USD-denominated sales in revenue of the company (estimate) 91.0%
  • Share price is 27.3% higher than minimum and 53.8% lower than maximum for the last 3 years
  • The company is overvalued by EV / LTM EBITDA multiple compared to target level (16.0x 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 -22 664 mln rub as NetDebt * (current key rate - normalized 7%) / 2, expected EBITDA adjusted for key rate increases is 167 975 mln rub, expected mult is 6.7x, target mult is 5.6x, potential is -29.7%

Key Financials (Download financials)

Ticker: RUAL
Share price, RUB:  (-0.6%)41.16
year average price 38.71  


year start price 43.15 2023-04-22

max close price 44.18 2023-07-31

min close price 33.30 2024-03-26

current price 41.16 2024-04-20
Common stocks: 15 193 010 000

Dividend Yield:  0.0%
FCF Yield LTM / expected: 2.6% / 17.9%
EV / LTM EBITDA: 16.0x
EV / EBITDA annualized: 11.7x
Production prices change from LTM: 8.5%
EV / projected EBITDA:
Target EV / EBITDA (hist percentile):
Express share price potential:
EV / LTM EBITDA mutiple calculation
Market Cap (m RUB): 625 344
Net Debt (m RUB): 507 098
EV (Enterprise Value): 1 132 442
EBITDA LTM (m RUB): 70 617
EV / LTM EBITDA: 16.0x
Average daily trading volume for the week, RUB mln: 3221.45

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