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General information

Whoosh is a leader in the development and integration of solutions for urban micromobility and the largest scooter-sharing operator in 40 cities of Russia and the CIS with a fleet of 82000 scooters
  • Good financial results growth rate 17.7% (average between last period year over year growth for revenue and EBITDA), there is acceleration compared to average historical growth rates (12.3%)
  • Dividend yield for the last twelve months 0.0%
  • Free cash flow yield -23.4% (LTM)
  • Share price is 14.3% higher than minimum and 89.8% lower than maximum for the last 3 years
  • The company is undervalued by EV / LTM EBITDA multiple compared to target level (5.1x vs
    )
  • Fundamental value created in LTM (estimate)
  • Taking into account the impact of the key rate 14.0% on the change in financial parameters: EBITDA adjustment is -483 mln rub as NetDebt * (expected key rate - 3 years average 0.0%) / 2, expected EBITDA adjusted for key rate increases is 3 744 mln rub, expected mult is 4.7x, target mult is 7.1x, potential is +232.9%

Key Financials (Download financials)

Ticker: WUSH
Share price, RUB:  (+1.1%)34.48
year average price 74.54  


year start price 90.01 2025-10-06

max close price 107.00 2026-02-25

min close price 30.17 2026-07-17

current price 34.62 2026-10-05
Common stocks: 111 382 432

Dividend Yield:  0.0%
FCF Yield LTM: -23.4%
EV / LTM EBITDA:5.1x
EV / EBITDA annualized: 9.0x
Last revenue growth (y/y):  3.6%
Last growth of EBITDA (y/y):  31.7%
Historical revenue growth:  19.8%
Historical growth of EBITDA:  4.8%
Target EV / EBITDA (hist percentile):
Express share price potential:
Fundamental value created in LTM:
Fundamental value created in LTM:
 Mult Upside+91.8%
 FCF Creation-23.4%
 Growth+17.7%
 Growth Corr+2.7%
 
 Sum+88.7%
EV / LTM EBITDA mutiple calculation
Market Cap (m RUB): 3 840
Net Debt (m RUB): 13 567
EV (Enterprise Value): 17 407
EBITDA LTM (m RUB): 3 404
Net Income LTM (m RUB): -2 805
EV / LTM EBITDA: 5.1x
Net Debt / LTM EBITDA (if EBITDA > 0): 4.0x
Average daily trading volume for the week, RUB mln: 87
[auto extract] P / B 1.7x
EBITDA margin ann-d 17.4%
Net income margin ann-d -31.7%

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

Фьючерсы
Название Инструмент Дата экспирации Последняя цена За день Дневной объем млн руб Цена акции Контанго / бэквордация Annualized
Фьючерсный контракт WUSH-12.26 WUZ6 2026-12-18 355.00 +1.4% 32.5 34.62 +2.5% +13.2%
Фьючерсный контракт WUSH-3.27 WUH7 2027-03-19 357.00 +1.7% 0.5 34.62 +3.1% +7.0%
MSFO data *The values are shown in mln. The % change shows the difference from the same period last year

View as Pivot Table       Export as Pivot Table (xlsx)



Income


Q Revenue Gross profit Operating income Net income PercentProfit PercentLoss
 
2026 H1 5 564+4% 1 208+83% -411-33% -1 766-7% 98-49% -1 3630%
2025 H2 7 089-11% 1 793-36% 865-48% -1 039<-100% 233-57% -1 930+169%
2025 H1 5 369-15% 661-72% -609<-100% -1 893<-100% 192>+200% -1 366+18%
2024 H2 8 006+27% 2 801+27% 1 665+19% 1 727+155% 541>+200% -718-12%
2024 H1 ( 8956 , 8966 ) 6 298+42% 2 343+39% 1 547+20% 259-80% 45-92% -1 163+138%
2023 H2 6 295+49% 2 214+95% 1 401+182% 678+52% 122+84% -817>+200%
2023 H1 4 437+39% 1 691+53% 1 284+41% 1 263>+200% 580>+200% -488-11%
2022 H2 4 229+96% 1 133+18% 497-38% 446-40% 66+162% -129+43%
2022 H1 3 197+63% 1 107-14% 910-20% 385-64% 23>+200% -548>+200%
2021 H2 2 162>+200% 962>+200% 804>+200% 740>+200% 25>+200% -90>+200%
2021 H1 1 966 1 284 1 130 1 057 5 -79
2020 H2 427 204 115 112 4 -7


Balance


Implied interest rate for 2026 H1:
= (PercentLoss - PercentProfit) * (365 / periodLength) / (NetDebt - MinorityInterest)
= (1 363 - 98) * 2 / (13 567 - 0)

Q Total equity Total assets Net debt Implied interest rate NetDebt / LTM EBITDA
 
2026 H1 2 319-50% 21 303-3% 13 567+7% 18.6% 3.99x
2025 H2 4 001-45% 19 647-10% 13 119+30% 25.9% 4.14x
2025 H1 4 657-16% 21 944+18% 12 669+25% 18.5% 3.33x
2024 H2 7 279-60% 21 919+21% 10 089+21% 3.5% 1.73x
2024 H1 ( 8956 , 8966 ) 5 562-11% 18 578+37% 10 156+131% 22.0% 1.99x
2023 H2 18 133>+200% 18 133+59% 8 340+149% 16.7% 1.87x
2023 H1 6 236-8% 13 573+99% 4 403+32% -4.2% 1.18x
2022 H2 4 869+102% 11 428+122% 3 352+46% 3.7% 1.07x
2022 H1 6 807<-100% 6 807+32% 3 332 31.5% 1.31x
2021 H2 2 406>+200% 5 147>+200% 2 289 5.6% 0.86x
2021 H1 -2 406 5 147     1.02x
2020 H2 209 1 326     3.32x


Cashflow


Q Operating cashflow Investing cashflow Financial cashflow
 
2026 H1 302+91% -494-78% 2 785+166%
2025 H2 -1 039<-100% -1 979+78% -31-82%
2025 H1 158-39% -2 255-36% 1 046<-100%
2024 H2 1 727<-100% -1 110-73% -168>+200%
2024 H1 ( 8956 , 8966 ) 259-94% -3 524+53% -113<-100%
2023 H2 -2 380>+200% -4 148+91% -36-99%
2023 H1 4 320+74% -2 306+29% 0<-100%
2022 H2 -329<-100% -2 177+57% -3 471<-100%
2022 H1 2 481+135% -1 7890% 5 578>+200%
2021 H2 671>+200% -1 386+118% 1 303+161%
2021 H1 1 057 -1 789 500
2020 H2 139 -637 498
RSBU data *The values are shown in mln. The % change shows the difference from the same period last year

View as Pivot Table       Export as Pivot Table (xlsx)



Income


Q Revenue Gross profit Operating income Net income PercentProfit PercentLoss
 
2026 q2 0-19% 0-19% -5-79% -6>+200% 1+7% 00%
2026 q1 0-36% 0-36% -9-22%   1+7%  
2025 q4 0<-100% 0<-100% -35<-100% -273>+200% 1+48% 0+100%
2025 q3 0+100% 0+100% -38>+200% -26<-100% 1+79% 00%
2025 q2 0+100% 0+100% -22+113% -2-78% 1+1% 0-50%
2025 q1 0+100% 0+100% -12-19% -9-23% 1+32% 0-50%
2024 q4 234+100% 234>+200% 215<-100% -2-91% 1+77% 00%
2024 q3 ( 9110 , 9224 ) 00% 0+100% -8-47% 226-84% 1+197% 0-67%
2024 q2 00% 0+100% -10-18% -8-24% 1>+200% 00%
2024 q1 00% 0+100% -15+176% -12+177% 1>+200% 0-88%
2023 q4 0<-100% 1>+200% -27-46% -22-98% 0 0-75%
2023 q3 00% 0 -15>+200% 1 388-55% 0 00%
2023 q2 0 0 -13 -10 0 0
2023 q1 0 -1 -5 -4 0 0
2022 q4 0 0 -51 -1 081   0
2022 q3 0   -1 3 119   0
2022 q2            
2022 q1            
2021 q4            
2021 q3            


Balance


Q Total equity Total assets Net debt
 
2026 q2 10 902-3% 10 904-3% -626+68%
2026 q1 10 906-3% 10 909-3% -618>+200%
2025 q4 10 916-3% 10 920-3% -571+14%
2025 q3 11 213-3% 11 219-3% -376-53%
2025 q2 11 197-2% 11 209-2% -373-35%
2025 q1 11 199-2% 11 202-2% 0<-100%
2024 q4 11 208-3% 11 211-3% -499+31%
2024 q3 ( 9110 , 9224 ) 11 571-9% 11 575-9% -802>+200%
2024 q2 11 3840% 11 390+1% -573>+200%
2024 q1 11 479+1% 11 484+1% -813>+200%
2023 q4 11 517+2% 11 585+1% -380>+200%
2023 q3 12 717+36% 12 720+36% 0<-100%
2023 q2 11 3290% 11 332-1% -1+102%
2023 q1 11 3390% 11 342-1% 0+34%
2022 q4 11 344 11 482 0<-100%
2022 q3 9 359 9 362 -9 361
2022 q2 11 344 11 482 0
2022 q1 11 344 11 482 0
2021 q4     0
2021 q3      
More information for subscribed users:
detailed calculation of
Potential and Created Value,
commodities affecting the company
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