Enhanced Investments - Financial Portal

General information

Cian is a service for renting, buying and evaluating real estate in Russia, as well as for calculating mortgages

Good financial results growth rate 53.4% (average between last period year over year growth for revenue and EBITDA), there is acceleration compared to average historical growth rates (40.0%)
Dividend yield for the last twelve months 24.4%
Free cash flow yield 18.4% (LTM)
Share price is 42.9% higher than minimum and 37.6% lower than maximum for the last 3 years
The company is undervalued by EV / LTM EBITDA multiple compared to target level (11.8x vs
)
Fundamental value created in LTM (estimate)
Taking into account the impact of the key rate 14.5% on the change in financial parameters: EBITDA adjustment is 281 mln rub as NetDebt * (expected key rate - 3 years average 0.0%) / 2, expected EBITDA adjusted for key rate increases is 4 196 mln rub, expected mult is 10.1x, target mult is 14.0x, potential is +32.4%

Key Financials (Download financials)

Ticker: CNRU

Share price, RUB: (+0.9%)642.6

year average price 609.58

year start price 539.40 2025-05-29

min close price 526.20 2025-06-12

max close price 757.00 2025-12-08

current price 642.20 2026-05-28

Common stocks: 77 670 490

Dividend Yield: 24.4%

FCF Yield LTM: 18.4%

EV / LTM EBITDA:11.8x

EV / EBITDA annualized: 8.7x

Last revenue growth (y/y): 17.9%

Last growth of EBITDA (y/y): 88.9%

Historical revenue growth: 21.7%

Historical growth of EBITDA: 58.3%

Target EV / EBITDA (hist percentile):

Express share price potential:

Fundamental value created in LTM:

Потенциал с учетом ускорения/замедления

	Mult Upside	+25.7%
	FCF Creation	+18.4%
	Growth	+53.4%
	Growth Corr	+6.7%

	Sum	+104.1%

EV / LTM EBITDA mutiple calculation

Market Cap (m RUB): 49 911

Net Debt (m RUB): -6 049

EV (Enterprise Value): 43 862

EBITDA LTM (m RUB): 3 713

Net Income LTM (m RUB): 2 862

EV / LTM EBITDA: 11.8x

Net Debt / LTM EBITDA (if EBITDA > 0): -1.6x

Average daily trading volume for the week, RUB mln: 83

P / E 16.9x

P / E ann-d18.1x

P / B 8.4x

EBITDA margin ann-d 32.5%

Net income margin ann-d 16.6%

Revenue and EBITDA

Quarterly 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

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


2025 q4	4 164+21%	706+32%	691-8%	455+114%	-6-53%
2025 q3	4 164+21%	706+32%	691-8%	455+114%	-6-53%
2025 q2	3 602+11%	615-1%	790>+200%	541>+200%	-3-40%
2025 q1	3 602+11%	615-1%	790>+200%	541>+200%	-3-40%
2024 q4 ( 9495 , 9497 )	3 433+5%	535+6%	752+75%	213+107%	-13+38%
2024 q3	3 433+5%	535+6%	752+75%	213+107%	-13+38%
2024 q2	3 231+21%	620+103%	207-49%	93+55%	-5-17%
2024 q1	3 231	622	209	93	-5
2023 q4 ( 8542 , 8573 , 9494 )	3 270+37%	504+171%	429>+200%	103>+200%	-10+68%
2023 q3	3 270+37%	504+171%	429>+200%	103>+200%	-10+68%
2023 q2	2 661	306	404	60	-6
2022 q4	2 394+35%	186<-100%	120<-100%	27>+200%	-6-62%
2022 q3	2 394+35%	186<-100%	120<-100%	27>+200%	-6-62%
2021 q4	1 772+42%	-704>+200%	-714>+200%	5+73%	-15-15%
2021 q3	1 772	-704	-714	5	-15
2020 q4	1 249	-144	-157	3	-18

Balance

Q	Total equity	Total assets	Net debt	Implied interest rate	NetDebt / LTM EBITDA


2025 q4	5 951-41%	10 072-23%	-5 325+5%	-1.71x
2025 q3				-3.63x
2025 q2	10 996+33%	14 914+36%	-10 051+45%	-1.89x
2025 q1				-1.42x
2024 q4 ( 9495 , 9497 )	10 009+39%	13 045+27%	-5 072-21%	-1.98x
2024 q3				-1.86x
2024 q2	8 296<-100%	10 965+7%	-6 909	-1.10x
2024 q1				-1.50x
2023 q4 ( 8542 , 8573 , 9494 )	7 176+43%	10 294+48%	-6 406+59%	-1.66x
2023 q3				-1.78x
2023 q2	-7 176	10 294		-2.01x
2022 q4	5 009+29%	6 974+25%	-4 041+74%	-2.16x
2022 q3
2021 q4	3 872	5 600	-2 328
2021 q3
2020 q4

Cashflow

Q	Operating cashflow	Investing cashflow	Financial cashflow


2025 q4	1 051+48%	862<-100%	-2 166>+200%
2025 q3	1 051+48%	862<-100%	-2 166>+200%
2025 q2	1 182+75%	-2 859>+200%	-9+38%
2025 q1	1 182+75%	-2 859>+200%	-9+38%
2024 q4 ( 9495 , 9497 )	712+7%	-89-34%	-9-13%
2024 q3	712+7%	-89-34%	-9-13%
2024 q2	677+61%	-169>+200%	-7-38%
2024 q1	677	-169	-7
2023 q4 ( 8542 , 8573 , 9494 )	666+39%	-135>+200%	-10-3%
2023 q3	666+39%	-135>+200%	-10<-100%
2023 q2	422	-31	-11
2022 q4	481>+200%	-34+25%	-11<-100%
2022 q3	481<-100%	-34-93%	-106 439<-100%
2021 q4	580%	-270%	460%
2021 q3	-516	-454	1 439
2020 q4	58	-27	46

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 q1	00%	00%	-44+20%	6 854+117%	73	0-89%
2025 q4
2025 q3	0+100%	0	-256 599	7 479 862<-100%	456	-14 921
2025 q2	0		-123	4 446	0	-4
2025 q1 ( 9846 , 9847 , 9858 , 9859 )	0	0	-37	3 152		-2
2024 q4	0		-4	298 475	0	0
2024 q3	0			-910 097
2024 q2
2024 q1
2023 q4

Balance

Implied interest rate for 2026 q1:
= (PercentLoss - PercentProfit) * (365 / periodLength) / (NetDebt - MinorityInterest)
= (0 - 73) * 4 / (7 776 - 0)

Q	Total equity	Total assets	Net debt


2026 q1	42 138+10%	51 582+34%	7 776>+200%
2025 q4			7 215-59%
2025 q3	42 797 839	43 133 756	266 964
2025 q2	42 909	43 129	179
2025 q1 ( 9846 , 9847 , 9858 , 9859 )	38 463	38 554	51
2024 q4	35 310	35 371	17 776
2024 q3
2024 q2
2024 q1
2023 q4

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

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

Important disclosures

Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.

Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities.
Past performance is no guarantee of future results. Any historical returns, expected returns [or probability projections] are hypothetical in nature and may not reflect actual future performance.
All the strategies assume investments in equity invstrumenta only and are more relevant for "agressive investment profile". Eastern European flagship strategy assumes using up to 20% leverage of total portfolio. GlobalCommodities and US Growth strategy currently assume no leverage.
Results for the Enhanced Investments strategies as compared to the performance of Illustrative Benchmarks is for informational purposes only. Our investment program does not mirror that of the Illustrative Benchmarks and the volatility may be materially different from the volatility of Illustrative Benchmarks. Reference or comparison to an Illustrative Benchmark does not imply that strategies of Enhanced Investments will be constructed in the same way as the Illustrative Benchmark or achieve returns, volatility, or other results similar to those of the Illustrative Benchmark. The S&P 500 is an unmanaged market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance.
Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.