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General information

Federal Grid Co Unified Energy System PJSC provides long-haul electricity transmission. The Company manages and operates Russia's unified electricity transmission grid system along with high voltage transmission lines. Federal Grid caters to regional distribution companies, electricity suppliers, and large industrial enterprises.
  • Dividend yield for the last twelve months -1.3%
  • Free cash flow yield -257.1% (LTM)
  • Share price is 8.9% higher than minimum and 51.1% lower than maximum for the last 3 years
  • The company is overvalued by EV / LTM EBITDA multiple compared to target level (13.6x vs
    )

Key Financials (Download financials)

Ticker: FEES
Share price, RUB:  (-0.3%)0.06864
year average price 0.0739  


year start price 0.0860 2024-09-17

max close price 0.0875 2024-09-23

min close price 0.0630 2025-07-11

current price 0.0686 2025-09-16
Common stocks: 2 113 460 100 000
Dividend Yield:  -1.3%
FCF Yield LTM: -257.1%
EV / LTM EBITDA:13.6x
EV / EBITDA annualized: 1.9x
Target EV / EBITDA (hist percentile):
EV / LTM EBITDA mutiple calculation
Market Cap (m RUB): 145 068
Net Debt (m RUB): 790 605
EV (Enterprise Value): 935 673
EBITDA LTM (m RUB): 68 813
Net Income LTM (m RUB): 10 085
EV / LTM EBITDA: 13.6x
Net Debt / LTM EBITDA (if EBITDA > 0): 11.5x
Average daily trading volume for the week, RUB mln: 177
P / E 14.4x
P / E ann-d0.7x
P / B 0.1x
EBITDA margin ann-d 31.2%
Net income margin ann-d 13.2%

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 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 391 394+14%   76 852+83% 51 707+124% 17 139>+200% -3 700-72%
2025 q1 391 394+14%   76 852+83% 51 707+124% 17 139>+200% -3 700-72%
2024 q4 409 049+19%   -45 001<-100% -46 664<-100% 17 093+114% 83<-100%
2024 q3 409 049+19%   -45 001<-100% -46 664<-100% 17 093+114% 83<-100%
2024 q2 343 481+6%   41 906-44% 23 130-59% 135-98% -13 337>+200%
2024 q1 343 481+6%   41 906-44% 23 130-59% 135-98% -13 337>+200%
2023 q4 344 669+17%   49 262-78% 34 991-78% 7 996-75% -2 522-69%
2023 q3 344 669   49 262 34 991 7 996 -2 522
2023 q2 ( 6919 , 7638 ) 324 536-52%   74 497-54% 56 349-55% 7 984-47% -447-81%
2023 q1 324 536   74 497 56 349 7 984 -447
2022 q4 295 378   222 284 161 321 31 971 -8 012
2022 q2 678 858>+200%   162 316>+200% 123 873>+200% 15 061>+200% -2 377+49%
2021 q3 62 724+2%   21 763-11% 18 158-14% 2 683-9% -1 701-12%
2021 q2 60 976+9%   19 436-1% 16 999-5% 4 055-10% -1 592-8%
2021 q1 61 999+6%   23 5160% 19 5740% 2 431-20% -1 621-13%
2020 q4 61 142-20%   1 900-90% 890-95% 2 634-18% -1 715+4%
2020 q3 61 348+5%   24 570+6% 21 009+6% 2 943-5% -1 937+23%
2020 q2 56 108-2%   19 697-17% 17 825-23% 4 493+2% -1 725+7%
2020 q1 58 706+2%   23 570-35% 19 666-28% 3 029-3% -1 855-10%
2019 q4 76 142-4%   19 578-51% 16 221-52% 3 194-5% -1 656+18%
2019 q3 ( 501 , 502 ) 58 473+3%   23 250+8% 19 738+7% 3 093+37% -1 571+62%
2019 q2 57 479+1%   23 806+11% 23 241+14% 4 402-7% -1 615+28%
2019 q1 57 517-5%   36 080+50% 27 438+35% 3 107+18% -2 054+66%
2018 q4 79 584-3%   39 9090% 33 722-4% 3 371+118% -1 400+53%
2018 q3 56 939-3%   21 510-16% 18 368-15% 2 253-26% -967-13%
2018 q2 56 797+10%   21 373-8% 20 459-7% 4 718-10% -1 260+16%
2018 q1 60 659+22%   24 065+83% 20 296+134% 2 639-4% -1 235-10%
2017 q4 82 106-9%   39 825>+200% 35 308>+200% 1 548+42% -917+46%
2017 q3 58 461+7%   25 720+59% 21 721+52% 3 049+41% -1 116-55%
2017 q2 ( 511 , 512 ) 51 823-11%   23 228-27% 22 099-22% 5 238+172% -1 089-51%
2017 q1 49 796-5%   13 140-38% 8 689-47% 2 752+53% -1 379-48%
2016 q4 ( 514 , 515 ) 90 150+52%   10 889-33% 9 189-25% 1 088-54% -628-72%
2016 q3 54 867+24%   16 207-15% 14 330-2% 2 161-13% -2 485-25%
2016 q2 58 046+42%   31 641+191% 28 442>+200% 1 927+7% -2 241+32%
2016 q1 52 540+23%   21 110+91% 16 421+80% 1 798-14% -2 656+13%
2015 q4 59 419+33%   16 175<-100% 12 188<-100% 2 347+76% -2 276+40%
2015 q3 44 147+6%   19 137+21% 14 568+29% 2 478+119% -3 322+107%
2015 q2 40 907-4%   10 889-14% 8 229-12% 1 797+42% -1 695+22%
2015 q1 42 5680%   11 028-13% 9 113-2% 2 079+65% -2 342+68%
2014 q4 44 570   -77 332 -20 582 1 337 -1 623
2014 q3 41 533   15 813 11 258 1 133 -1 608
2014 q2 42 680+13%   12 713+141% 9 305<-100% 1 263+28% -1 395>+200%
2014 q1 42 680   12 713 9 305 1 263 -1 395
2013 q4            
2013 q3            
2013 q2 37 9130%   5 2760% -5 4600% 9890% -1750%
2012 q4 34 133-4%   9 335-56% 4 168-73% 1 042+4% -13-65%
2012 q3 34 133-4%   9 335-56% 4 168-73% 1 042+4% -13-65%
2012 q2 ( 525 , 529 ) 37 913+13%   5 276-31% -5 460<-100% 989+2% -175+5%
2012 q1 37 913+6%   5 276-80% -5 460<-100% 989-10% -175>+200%
2011 q4 35 372   21 394 15 666 997 -37
2011 q3 35 372   21 394 15 666 997 -37
2011 q2 33 455>+200%   7 657+6% 1 989-69% 967-38% -166>+200%
2011 q1 35 609>+200%   26 772>+200% 21 964>+200% 1 100-30% -52+106%
2010 q4            
2010 q3            
2010 q2 8 919-13%   7 255+38% 6 318+59% 1 566-37% -25-96%
2010 q1 8 919-13%   7 255+38% 6 318+59% 1 566-37% -25-96%
2009 q4 52 371   3 928+77% -21 805>+200% 2 501+18% -277-84%
2009 q3 52 371   3 928 -21 805 2 501 -277
2009 q2 10 261>+200%   5 263+98% 3 970+161% 2 499>+200% -653-23%
2009 q1 10 261   5 263 3 970 2 499 -653
2008 q4     2 214 -5 959 2 121 -1 780
2008 q2 1 536   2 663 1 521 495 -845


Balance


Implied interest rate for 2025 q2:
= (PercentLoss - PercentProfit) * (365 / periodLength) / (NetDebt - MinorityInterest)
= (3 700 - 17 139) * 4 / (790 605 - 322 216)

Q Total equity Total assets Net debt Implied interest rate NetDebt / LTM EBITDA
 
2025 q2 1 826 248-5% 3 577 606+4% 790 605+11% -11.5% 11.49x
2025 q1         24.57x
2024 q4 1 723 366-7% 3 445 757+5% 814 190+11%   9.52x
2024 q3         2.73x
2024 q2 1 930 322+9% 3 426 026+12% 709 683+5% 12.9% 1.14x
2024 q1         1.57x
2023 q4 1 851 916>+200% 3 290 802+13% 735 490 -4.9% 2.00x
2023 q3         2.18x
2023 q2 ( 6919 , 7638 ) 1 778 222 3 062 490 673 876 -7.2% 2.37x
2023 q1         2.58x
2022 q4 409 586 2 924 269     2.80x
2022 q2         2.61x
2021 q3 980 918+3% 1 378 054+3% 181 611-22% -2.2% 1.50x
2021 q2 962 608+4%   -143 913 100 409<-100%   1.37x
2021 q1 969 804+5% 1 359 388+4% 193 320+13% -1.7% 1.60x
2020 q4 950 986+5% 1 340 158+4% 197 383+11% -1.9% 1.65x
2020 q3 953 131+7% 1 340 158+6% 233 699+25% -1.7% 1.29x
2020 q2 925 964+6% 1 327 966+5% 168 280-10% -6.6% 1.15x
2020 q1 920 940+6% 1 301 908+6% 171 692-15% -2.7% 1.23x
2019 q4 901 784+7% 1 290 341+7% 177 095 -3.5% 1.17x
2019 q3 ( 501 , 502 ) 892 458+5% 1 269 331+5% 187 653-8% -3.2% 1.10x
2019 q2 873 981+5% 1 262 635+3% 186 078-2% -6.0% 1.11x
2019 q1 865 061+5% 1 233 527+2% 202 142-1% -2.1% 1.00x
2018 q4 839 162+5% 1 209 042+2%     1.46x
2018 q3 850 413+14% 1 208 488+8% 204 042-8% -2.5% 1.48x
2018 q2 834 790+14% 1 229 777+10% 190 413-10% -7.3% 1.35x
2018 q1 827 433+13% 1 210 940+9% 203 275-6% -2.8% 1.42x
2017 q4 801 768+10% 1 183 825+8% 215 987-3% -1.2% 1.63x
2017 q3 748 550+8% 1 116 743+6% 221 777+2% -3.5% 2.07x
2017 q2 ( 511 , 512 ) 731 926+9% 1 115 429+7% 210 918+1% -7.9% 2.12x
2017 q1 735 087+14% 1 109 226+9% 217 398+14% -2.5% 3.18x
2016 q4 ( 514 , 515 ) 728 417+18% 1 097 110+10% 223 5760% -0.8% 3.05x
2016 q3 695 349+14% 1 055 276+8% 217 9780% 0.6% 5.84x
2016 q2 670 368+12% 1 042 907+7% 208 001-7% 0.6%  
2016 q1 647 344+4% 1 022 108+3% 190 876 1.8%  
2015 q4 619 638+8% 995 328+6% 223 022+1% -0.1%  
2015 q3 608 046+6% 972 965+4% 218 349 1.5%  
2015 q2 596 314+5% 973 478+5% 223 641+7% -0.2%  
2015 q1 619 638 995 328      
2014 q4 573 231+5% 935 175+2% 221 695-2% 0.5%  
2014 q3 573 231 935 175      
2014 q2 570 167+4% 926 593+1% 209 209 0.3%  
2014 q1          
2013 q4 548 297-40% 918 502-27% 225 949+18%    
2013 q3          
2013 q2 548 297-39% 918 502-27%      
2012 q4 907 796+1% 1 260 241+8% 192 115+80% -2.1%  
2012 q3          
2012 q2 ( 525 , 529 ) 898 114+1% 1 258 143+17% 187 668>+200% -1.7%  
2012 q1          
2011 q4 898 107+3% 1 163 677+9% 106 762+166% -3.6%  
2011 q3          
2011 q2 888 815+3% 1 077 391+9% 45 091<-100% -7.2%  
2011 q1          
2010 q4 874 104+9% 1 071 648+10% 40 150<-100%    
2010 q3          
2010 q2 859 564+40% 990 970+34% -12 335-37%    
2010 q1          
2009 q4 801 548+35% 976 424+40% -30 341    
2009 q3          
2009 q2 612 584 739 836 -19 448    
2009 q1          
2008 q4 592 063 697 741      
2008 q2          


Cashflow


Q Operating cashflow Investing cashflow Financial cashflow
 
2025 q2 122 991+17% -116 209+65% -4 977-56%
2025 q1 122 991+17% -116 209+65% -4 977-56%
2024 q4 118 9570% -137 013+15% 30 487>+200%
2024 q3 118 9570% -137 013+15% 30 487>+200%
2024 q2 105 231-8% -70 341+5% -11 437-32%
2024 q1 105 231-8% -70 341 -11 437
2023 q4 119 453+48% -118 986+22% 2 081-89%
2023 q3 119 453 -118 986 2 081
2023 q2 ( 6919 , 7638 ) 114 262 -67 243 -16 812
2023 q1 114 262    
2022 q4 80 550 -97 396 18 960
2022 q2      
2021 q3 27 709+17% -13 973-52% -24 687-14%
2021 q2 37 539+17% -8 316-37% -4 548<-100%
2021 q1 35 875+12% -21 904+24% -4 569-70%
2020 q4 33 301-3% -31 073-8% 3 190<-100%
2020 q3 23 623-34% -29 211+62% -28 816+13%
2020 q2 32 045-23% -13 230-29% 4 260<-100%
2020 q1 31 909+30% -17 699+112% -15 280-32%
2019 q4 34 317-12% -33 956-10% -5 721<-100%
2019 q3 ( 501 , 502 ) 35 632+54% -18 014<-100% -25 441-42%
2019 q2 41 717+25% -18 765+12% -4 089+38%
2019 q1 24 568-15% -8 334-74% -22 455>+200%
2018 q4 38 787-20% -37 714+13% 7 261<-100%
2018 q3 23 099-10% 2 299<-100% -43 672+78%
2018 q2 33 259+41% -16 734+27% -2 964-78%
2018 q1 28 925+25% -32 490+67% -4 973-21%
2017 q4 48 352+52% -33 360+48% -1 795-76%
2017 q3 25 748-2% -10 500-21% -24 552+4%
2017 q2 ( 511 , 512 ) 23 542-17% -13 199<-100% -13 485-18%
2017 q1 23 125-8% -19 477+157% -6 268-37%
2016 q4 ( 514 , 515 ) 31 871+63% -22 581-13% -7 341-29%
2016 q3 26 310-3% -13 375>+200% -23 534+6%
2016 q2 28 246+43% 5 579<-100% -16 488<-100%
2016 q1 25 049-21% -7 581-79% -9 927+55%
2015 q4 19 533+9% -26 004>+200% -10 3600%
2015 q3 27 166+2% -3 974-51% -22 120+103%
2015 q2 19 815-27% -31 609>+200% 24 213<-100%
2015 q1 31 509+16% -35 655>+200% -6 406-50%
2014 q4 18 000-5% -6 817-83% -10 374<-100%
2014 q3 26 564+40% -8 100-80% -10 900<-100%
2014 q2 27 163+25% -3 038-80% -12 866<-100%
2014 q1 27 163 -3 038 -12 866
2013 q4 19 014+17% -40 680-6% 18 667-24%
2013 q3 19 014+17% -40 680-6% 18 667-24%
2013 q2 21 7520% -15 4200% 2360%
2012 q4 16 185-3% -43 431+29% 24 533+21%
2012 q3 16 185-3% -43 431+29% 24 533+21%
2012 q2 ( 525 , 529 ) 21 752+16% -15 420-36% 236-97%
2012 q1 21 752+20% -15 420-1% 236<-100%
2011 q4 16 640+25% -33 581+6% 20 239+6%
2011 q3 16 640 -33 581 20 239+6%
2011 q2 18 727+44% -24 000+30% 7 436<-100%
2011 q1 18 138 -15 640 -1 051-72%
2010 q4 13 362 -31 761 19 065>+200%
2010 q3     19 065>+200%
2010 q2 12 980 -18 457 -3 726<-100%
2010 q1     -3 726<-100%
2009 q4     3 369-85%
2009 q3     3 369
2009 q2     7 927-78%
2009 q1     7 927
2008 q4     22 629
2008 q2     35 515
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 86 638-10% 36 914-27% 34 065-28% 20 626<-100% 6 478+49% -6 531+74%
2025 q1 88 997+11% 37 750+18% 35 217+19% 58 373-57% 5 150+25% -5 179+30%
2024 q4 94 092+3% 34 134-15% 30 398-16% -297 232+115% 6 914+17% -6 446+42%
2024 q3 83 371+12% 32 605+12% 29 690+11% -62 852<-100% 6 463+44% -5 804+47%
2024 q2 96 595+11% 50 263+14% 47 546+13% -69 424<-100% 4 347+21% -3 746+21%
2024 q1 80 186+9% 31 912+13% 29 690+12% 134 669+96% 4 120+36% -3 978+47%
2023 q4 91 140+38% 39 924+134% 35 975+134% -138 403<-100% 5 902>+200% -4 539>+200%
2023 q3 74 168+20% 29 020+75% 26 853+79% 256 554>+200% 4 503+144% -3 944+164%
2023 q2 87 376+39% 44 067+94% 41 991+99% 133 529>+200% 3 593+34% -3 096+48%
2023 q1 73 550 28 357 26 429 68 713 3 021 -2 701
2022 q4 66 100-1% 17 062+6% 15 350+9% 17 225>+200% 1 633 -1 488
2022 q3 61 639+1% 16 556+13% 14 989+16% 5 141-49% 1 849 -1 493
2022 q2 62 896+7% 22 730+55% 21 070+67% 15 923+139% 2 673 -2 094
2021 q4 66 674+13% 16 155+55% 14 096+64% 1 093+183%    
2021 q3 61 265+1% 14 594-12% 12 921-15% 10 018-45%    
2021 q2 59 052+9% 14 677+16% 12 639+26% 6 674-39%    
2021 q1 60 618+7% 16 580+12% 14 883+14% 10 513+1%    
2020 q4 59 121-18% 10 447-59% 8 586-62% 386-98%    
2020 q3 60 377+5% 16 598+15% 15 129+21% 18 184+102%    
2020 q2 54 357-3% 12 629-5% 10 016-9% 10 995-39%    
2020 q1 56 7370% 14 8480% 13 070-2% 10 400-2%    
2019 q4 72 170-9% 25 659-25% 22 328-29% 21 802-5%    
2019 q3 57 536+5% 14 416+27% 12 552+32% 9 016+95%    
2019 q2 56 273+7% 13 320+21% 11 054+26% 18 058+78%    
2019 q1 56 721+7% 14 859+17% 13 365+19% 10 610-43%    
2018 q4 79 710 34 364 31 494 22 843    
2018 q3 54 734 11 355 9 477 4 612    
2018 q2 52 649 11 040 8 777 10 129    
2018 q1 53 201 12 711 11 230 18 604    


Balance


Implied interest rate for 2025 q2:
= (PercentLoss - PercentProfit) * (365 / periodLength) / (NetDebt - MinorityInterest)
= (6 531 - 6 478) * 4 / (292 900 - 0)

Q Total equity Total assets Net debt
 
2025 q2 1 282 600-18% 2 025 208-9% 292 900+23%
2025 q1 1 261 974-23% 2 023 124-10% 317 516+18%
2024 q4 1 203 601-20% 1 937 339-8% 335 704+27%
2024 q3 1 500 833-8% 2 254 822+5% 250 214+8%
2024 q2 1 563 670+15% 2 231 800+19% 238 6170%
2024 q1 1 633 094+9% 2 242 670+6% 268 816+2%
2023 q4 1 498 491+70% 2 114 708+56% 264 780-12%
2023 q3 1 625 706+85% 2 150 379+58% 230 820-24%
2023 q2 1 363 690+55% 1 880 340+38% 238 688-21%
2023 q1 1 498 491 2 114 708 264 780
2022 q4 879 802 1 357 739 302 223+69%
2022 q3 879 802 1 357 739 302 223+66%
2022 q2 879 802 1 357 739 302 223+84%
2021 q4     178 976-6%
2021 q3     181 914-4%
2021 q2     164 233-14%
2021 q1     184 982-3%
2020 q4     189 882+11%
2020 q3     189 882+11%
2020 q2     189 882+11%
2020 q1     189 882+11%
2019 q4     170 890-18%
2019 q3     170 890-18%
2019 q2     170 890-18%
2019 q1     170 890-18%
2018 q4     208 358
2018 q3     208 358
2018 q2     208 358
2018 q1     208 358
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