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General information

  • Bad financial results growth rate -27.3% (average between last period year over year growth for revenue and EBITDA), there is slowdown compared to average historical growth rates (28.5%)
  • Dividend yield for the last twelve months 2.7%
  • Free cash flow yield 31.8% (LTM)
  • Share price is 5.0% higher than minimum and 42.1% lower than maximum for the last 3 years
  • The company is undervalued by EV / LTM EBITDA multiple compared to target level (5.5x vs
    )
  • Fundamental value created in LTM (estimate)

Key Financials (Download financials)

Ticker: ELMT
Share price, RUB:  (-1.1%)0.1294
year average price 0.1461  


year start price 0.1763 2024-09-17

max close price 0.1829 2024-09-24

min close price 0.1232 2024-12-17

current price 0.1314 2025-09-16
Common stocks: 470 000 000 000

Dividend Yield:  2.7%
FCF Yield LTM: 31.8%
EV / LTM EBITDA:5.5x
EV / EBITDA annualized: 6.9x
Last revenue growth (y/y):  -18.9%
Last growth of EBITDA (y/y):  -35.8%
Historical revenue growth:  22.7%
Historical growth of EBITDA:  34.3%
Target EV / EBITDA (hist percentile):
Fundamental value created in LTM:
Fundamental value created in LTM:
 Mult Upside+34.3%
 FCF Creation+31.8%
 Growth-27.3%
 Growth Corr-55.9%
 
 Sum-17.2%
EV / LTM EBITDA mutiple calculation
Market Cap (m RUB): 60 818
Net Debt (m RUB): -11 234
EV (Enterprise Value): 49 584
EBITDA LTM (m RUB): 8 973
Net Income LTM (m RUB): 6 471
EV / LTM EBITDA: 5.5x
Net Debt / LTM EBITDA (if EBITDA > 0): -1.3x
Average daily trading volume for the week, RUB mln: 8
P / E 9.4x
P / E ann-d15.1x
P / B 1.4x
EBITDA margin ann-d 22.3%
Net income margin ann-d 12.5%

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

MSFO data *The values are shown in mln RUB 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 H1 16 096-19%   2 409-49% 2 011-47% 1 147+196% -1 217+23%
2024 H2 24 159+35%   4 305+41% 4 460+133% 1 398>+200% -1 176+35%
2024 H1 19 845+29%   4 678+23% 3 813+13% 388+92% -986+48%
2023 H2 17 886+46%   3 064+74% 1 917+39% 305>+200% -874+9%
2023 H1 15 353   3 806 3 389 202 -668
2022 H2 12 212+16%   1 758+127% 1 377>+200% 88+154% -799+45%
2021 H2 10 492-10%   774-17% 224+133% 35+19% -552+7%
2020 H2 11 667   930 96 29 -514


Balance


Implied interest rate for 2024 H1:
= (PercentLoss - PercentProfit) * (365 / periodLength) / (NetDebt - MinorityInterest)
= (986 - 388) * 2 / (7 888 - 3 224)

Q Total equity Total assets Net debt Implied interest rate NetDebt / LTM EBITDA
 
2025 H1 42 822+8% 114 091+8% -11 234<-100%   -1.25x
2024 H2 42 822+71% 114 091+23% -11 234<-100%   1.91x
2024 H1 39 472+57% 105 972+14% 7 888 25.6% 0.79x
2023 H2 25 095+18% 92 568+26% 14 570-6% 7.8% 2.00x
2023 H1 25 095 92 568     2.43x
2022 H2 21 274+11% 73 455+73% 15 519+33% 10.7% 3.13x
2021 H2 19 107-2% 42 376+5% 11 675 10.6% 3.61x
2020 H2 19 523 40 257     2.98x


Cashflow


Q Operating cashflow Investing cashflow Financial cashflow
 
2025 H1 -1 546-20% 1 112-28% -2 197<-100%
2024 H2 13 635>+200% -23 553>+200% -7 965<-100%
2024 H1 -1 940<-100% 1 550+100% 9 842>+200%
2023 H2 421<-100% -5 027<-100% 6 874+112%
2023 H1 7 898 0 973
2022 H2 -1 347<-100% 2 557>+200% 3 244<-100%
2021 H2 1 420<-100% 530<-100% -584<-100%
2020 H2 -112 -801 136
RSBU data *The values are shown in mln RUB 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 q2 484+56% 167>+200% -56-89% 434<-100% 492>+200% -8-33%
2025 q1 976-15% 764-26% 561-42% 1 039+2% 505>+200% -11-1%
2024 q4 1 431+50% 1 279+93% 851+69% 1 450>+200% 557>+200% -12+11%
2024 q3 165>+200% 37<-100% -67-37% 420<-100% 590>+200% -24+142%
2024 q2 310-29% 23-93% -504<-100% -741<-100% 121>+200% -12+9%
2024 q1 1 143 1 038 962 1 020 51 -12
2023 q4 954 661 504 444 51 -11
2023 q3 46 -39 -107 -60 34 -10
2023 q2 436 338 280 332 19 -11


Balance


Implied interest rate for 2023 q4:
= (PercentLoss - PercentProfit) * (365 / periodLength) / (NetDebt - MinorityInterest)
= (11 - 51) * 4 / (60 - 0)

Q Total equity Total assets Net debt
 
2025 q2 36 498+2% 39 508+5% -6 374-43%
2025 q1 37 724 41 624 -7 897
2024 q4 36 685 38 102 -8 187<-100%
2024 q3 35 235 36 290 -8 683
2024 q2 35 762+75% 37 799+70% -11 117
2024 q1      
2023 q4     60
2023 q3      
2023 q2 20 485 22 241  
More information for subscribed users:
detailed calculation of
Potential and Created Value,
commodities affecting the company