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General information

Sovcomflot operates as a shipping company. The Company provides maritime transportation of hydrocarbons, as well as the servicing and support of offshore exploration and oil and gas production. "Sovcomflot" serves customers in Russia.
  • Current market environment: positive. Prices of production are 7.1% higher compared to the last 12 months (LTM)
  • Prices of production are at 60.1% percentile over the past 5 years, adjusted for inflation
  • Dividend yield for the last twelve months 13.3%
  • Free cash flow yield 25.6% (LTM), projected 27.0%
  • Share of USD-denominated sales in revenue of the company (estimate) ≈ 100.0%
  • Share price is 182.5% higher than minimum and 43.4% lower than maximum for the last 3 years
  • The company is overvalued by EV / LTM EBITDA multiple compared to target level (3.0x vs
    )
  • The company is overvalued by EV / projected EBITDA multiple compared to target level (
    vs
    )
  • Taking into account the impact of the key rate 17.0% on the change in financial parameters: EBITDA adjustment is -11 mln rub as NetDebt * (current key rate - normalized 7%) / 2, expected EBITDA adjusted for key rate increases is 73 723 mln rub, expected mult is 2.7x, target mult is 2.3x, potential is -15.4%

Key Financials (Download financials)

Ticker: FLOT
Share price, RUB:  (+0.3%)84.52
year average price 88.43  


year start price 95.50 2024-09-18

max close price 105.86 2025-02-17

min close price 73.18 2025-05-26

current price 84.10 2025-09-17
Common stocks: 2 374 990 000
Dividend Yield:  13.3%
FCF Yield LTM / expected: 25.6% / 27.0%
EV / LTM EBITDA:3.0x
EV / EBITDA annualized: 5.6x
Production prices change from LTM: 7.1%
EV / projected EBITDA:
Target EV / EBITDA (hist percentile):
Express share price potential:
EV / LTM EBITDA mutiple calculation
Market Cap (m RUB): 200 734
Net Debt (m RUB): 9 589
EV (Enterprise Value): 210 323
EBITDA LTM (m RUB): 70 303
Net Income LTM (m RUB): -26 995
EV / LTM EBITDA: 3.0x
Net Debt / LTM EBITDA (if EBITDA > 0): 0.1x
Average daily trading volume for the week, RUB mln: 211
P / B 0.5x
EBITDA margin ann-d 34.2%
Net income margin ann-d -12.0%

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

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Income


Q Revenue Gross profit Operating income Net income PercentProfit PercentLoss
 
2025 q2 ( 12388 , 12389 ) 27 446-36% 14 692-40% 140-99% -3 306<-100% 2 616+4% -1 419-18%
2025 q1 26 156-47% 11 669-64% -32 593<-100% -36 916<-100% 3 794+79% -1 592-11%
2024 q4 ( 9371 , 9372 ) 52 103-26% 30 357-31% 3 052-89% -2 926<-100% 6 369+113% -2 449-7%
2024 q3 40 446-21% 24 724-33% 13 114-48% 16 153-17% 2 695+131% -1 701-17%
2024 q2 ( 8919 , 8920 ) 42 901-20% 24 677-38% 13 064-54% 9 773-50% 2 510+83% -1 733-21%
2024 q1 49 616+8% 32 304-6% 20 249-21% 19 638-6% 2 119+167% -1 782+1%
2023 q4 ( 7744 , 7745 , 9108 , 9109 ) 70 725 44 172 28 874 27 741 2 996 -2 625
2023 q3 51 189+58% 36 884 25 273+58% 19 436+58% 1 169+58% -2 045+58%
2023 q2 ( 6746 , 6747 ) 53 360+38% 39 860 28 256+38% 19 498+41% 1 373+35% -2 197+36%
2023 q1 45 856 34 471 25 696 20 912 794 -1 771
2022 q3 32 359+10%   15 976>+200% 12 287>+200% 739>+200% -1 293-58%
2022 q2 38 700<-100%   20 461<-100% 13 827>+200% 1 020-86% -1 612-62%
2021 q4 ( 2902 , 2903 ) 52 016+22% 71 481-28% 19 485-63% 1 245+85% -7 121+13% -2 110-55%
2021 q3 29 389+15% 13 240-3% 4 850-19% 1 069-37% 108-34% -3 080-80%
2021 q2 ( 564 , 2994 ) -24 444<-100% -43 074-32% -11 480-69% 543-94% 7 481+12% -4 275<-100%
2021 q1 26 995-18% 14 119-31% 4 164-67% -124<-100% 250+29% -3 869-33%
2020 q4 ( 565 , 566 ) 42 693-14% 99 114>+200% 53 349<-100% 674-86% -6 303<-100% -4 649<-100%
2020 q3 25 553+5% 13 657+12% 6 008+17% 1 701+1% 164+5% -15 561+12%
2020 q2 13 734-56% -62 967<-100% -37 327<-100% 8 587+187% 6 687>+200% 25 745<-100%
2020 q1 33 104-1% 20 495+46% 12 746<-100% 7 789+160% 194+8% -5 765
2019 q4 ( 568 , 569 ) 49 773+4% 16 279+43% -2 356>+200% 4 967<-100% 162+31% 13 679>+200%
2019 q3 24 338-49% 12 175+7% 5 117<-100% 1 677<-100% 156+26% -13 946-4%
2019 q2 31 187+11% 13 837+43% 6 336<-100% 2 993<-100% 180+30% -3 611+7%
2019 q1 33 378 14 070+45% -5-89% 2 993<-100% 180+30%  
2018 q4 ( 571 , 572 ) 48 007+27% 11 404+20% -175<-100% -291-83% 1240% 1 101<-100%
2018 q3 48 007 11 404+20% -175<-100% -291-83% 1240% -14 457
2018 q2 28 026-67% 9 7050% -40<-100% -1 759<-100% 139-23% -3 378-3%
2018 q1   9 705+12% -40>+200% -1 759+24% 139-30%  
2017 q4 ( 574 , 575 ) 37 921+34% 9 525-28% 394<-100% -1 727<-100% 124-56% -2 832+11%
2017 q3   9 525-28% 394<-100% -1 727<-100% 124-56%  
2017 q2 83 758 9 699-28% 206<-100% 440-89% 180-52% -3 498-71%
2017 q1   8 699-36% -4-33% -1 413<-100% 199-47%  
2016 q4 ( 577 , 578 ) 28 293-32% 13 312+43% -9<-100% 3 231-12% 284+62% -2 561+10%
2016 q3   13 312+43% -9<-100% 3 231-12% 284+62%  
2016 q2   13 563+16% -6<-100% 4 143-36% 376+63% -12 070<-100%
2016 q1   13 563-44% -6<-100% 4 143-67% 376-25%  
2015 q4 ( 580 , 581 ) 41 821+9% 9 281+99% 59<-100% 3 674>+200% 175+46% -2 323+40%
2015 q3   9 281+99% 59<-100% 3 674>+200% 175+46%  
2015 q2 ( 582 , 583 )   11 651+10% 430+16% 6 434+188% 230-18% 821
2015 q1   24 188+127% 430+16% 12 424>+200% 503+78%  
2014 q4 ( 584 , 585 ) 38 344<-100% 4 670>+200% -14-96% 147<-100% 120+22% -1 660<-100%
2014 q3   4 670>+200% -14-96% 147<-100% 120+22%  
2014 q2   10 638+40% 371>+200% 2 231<-100% 282-10%  
2014 q1   10 638>+200% 371-62% 2 231<-100% 282-10%  
2013 q4 ( 587 , 588 , 589 ) -21 119<-100% 3 -313<-100% -268-24% 98 679<-100%
2013 q3 -21 119 3 -313 -268-83% 98 679
2013 q2   7 607>+200% 39-99% -449<-100% 315-17% -2 038+13%
2013 q1   8 983 -449<-100% 315 -2 038
2012 q4 3<-100%   1 185-22% -353<-100%   -24-31%
2012 q3       -1 582>+200%    
2012 q2   9 3 115 1 561+89% 379 -1 800
2012 q1       1 371+41%    
2011 q4 11 227   1 514 315-84%   -34
2011 q3       -437<-100%    
2011 q2       825-48%    
2011 q1       972    
2010 q4       1 915    
2010 q3       1 048    
2010 q2       1 575    


Balance


Implied interest rate for 2025 q1:
= (PercentLoss - PercentProfit) * (365 / periodLength) / (NetDebt - MinorityInterest)
= (1 592 - 3 794) * 4 / (14 476 - 9 934)

Q Total equity Total assets Net debt Implied interest rate NetDebt / LTM EBITDA
 
2025 q2 ( 12388 , 12389 ) 381 127-12% 512 433-17% 9 589-6%   0.14x
2025 q1 402 152-16% 539 047-17% 14 476-58% -194.0% 0.17x
2024 q4 ( 9371 , 9372 ) 511 004+13% 679 684+7% 15 721-56% -515.1% 0.13x
2024 q3 483 1900% 649 569-3% 23 927-62% -36.2% 0.22x
2024 q2 ( 8919 , 8920 ) 434 546+6% 615 071+4% 10 228-83%   0.09x
2024 q1 480 905 648 321 34 506 -6.2% 0.26x
2023 q4 ( 7744 , 7745 , 9108 , 9109 ) 452 613 632 573 35 508 -6.3% 0.27x
2023 q3 483 380 672 957 63 456 7.0% 0.52x
2023 q2 ( 6746 , 6747 ) 411 828 591 522 59 897 6.8% 0.65x
2023 q1         0.71x
2022 q3         0.74x
2022 q2         1.10x
2021 q4 ( 2902 , 2903 ) 294 644-3% 544 107-5% 188 836-1%   2.45x
2021 q3 285 698+2% 539 436-7% 185 165-22% 6.7% 3.93x
2021 q2 ( 564 , 2994 ) 285 784+11% 561 057+7% 183 965-12% -7.3% 3.76x
2021 q1 312 637 586 234 199 250 7.6% 3.46x
2020 q4 ( 565 , 566 ) 302 772+40% 572 026+26% 190 879-6%   3.01x
2020 q3 279 048 579 496<-100% 238 548+20% 27.0% 3.41x
2020 q2 256 697+21% 525 526+14% 210 061-2%   3.15x
2020 q1         4.17x
2019 q4 ( 568 , 569 ) 216 954-7% 454 137-8% 202 954-13%   3.83x
2019 q3   475 845 748 199 245   4.76x
2019 q2 212 779+1% 460 571+2% 214 996+3% 6.6% 4.76x
2019 q1         5.54x
2018 q4 ( 571 , 572 ) 232 731+19% 496 176+17% 232 585+24%   6.77x
2018 q3         7.51x
2018 q2 210 112+1% 452 806+4% 208 734+7% 6.5% 7.51x
2018 q1         6.82x
2017 q4 ( 574 , 575 ) 196 360-10% 423 183-3% 187 6670% 6.0% 6.23x
2017 q3         6.09x
2017 q2 207 857-8% 437 376+3% 195 103+17% 7.1% 5.74x
2017 q1         4.53x
2016 q4 ( 577 , 578 ) 218 627-15% 434 136-12% 187 915-9% 5.1% 3.90x
2016 q3         4.03x
2016 q2 225 960+21% 425 770+12% 167 409-3% 29.8% 3.28x
2016 q1         3.61x
2015 q4 ( 580 , 581 ) 256 165+44% 493 164+36% 205 486+24% 4.2% 4.46x
2015 q3         4.78x
2015 q2 ( 582 , 583 ) 186 755+76% 381 332+77% 172 460+78%   5.27x
2015 q1         7.04x
2014 q4 ( 584 , 585 ) 177 635+74% 362 232>+200% 166 147+108% 3.9% 8.26x
2014 q3         6.78x
2014 q2 106 223>+200% 215 069>+200% 96 937<-100%   6.41x
2014 q1         6.48x
2013 q4 ( 587 , 588 , 589 ) 101 829+7% 210<-100% 79 846   7.42x
2013 q3         8.96x
2013 q2 102<-100% 211<-100% -182   12.65x
2013 q1         31.17x
2012 q4 95 052-4% 210 588-3%      
2012 q3 97 015-2% 214 5360%      
2012 q2 101 049+15% 224 262+19%      
2012 q1 92 660 204 348      
2011 q4 99 096 216 470      
2011 q3 99 145 214 248      
2011 q2 87 937 187 779      
2011 q1          
2010 q4          
2010 q3          
2010 q2          


Cashflow


Q Operating cashflow Investing cashflow Financial cashflow
 
2025 q2 ( 12388 , 12389 ) 593-98% -829-96% -2 884-6%
2025 q1 5 645-80% -32 969>+200% -3 748-80%
2024 q4 ( 9371 , 9372 ) 34 395-20% -12 353-59% -18 886+47%
2024 q3 18 503-49% 20 482<-100% -29 715+88%
2024 q2 ( 8919 , 8920 ) 23 750-23% -20 359>+200% -3 070-92%
2024 q1 27 894-21% -642-90% -19 089<-100%
2023 q4 ( 7744 , 7745 , 9108 , 9109 ) 42 925 -30 169 -12 822
2023 q3 36 412 -18 701 -15 770
2023 q2 ( 6746 , 6747 ) 30 831 -3 806 -37 343
2023 q1 35 161 -6 290 25 540
2022 q3      
2022 q2      
2021 q4 ( 2902 , 2903 ) 11 2310% -7 006-28% -10 114<-100%
2021 q3 13 009-9% 2 413<-100% -25 631+192%
2021 q2 ( 564 , 2994 ) 12 482-39% -872-70% -9 062-2%
2021 q1 7 644-62% -10 165+48% -466>+200%
2020 q4 ( 565 , 566 ) 11 287-15% -9 771+110% 13 779<-100%
2020 q3 14 371+16% -9 138+8% -8 788+159%
2020 q2 20 608+65% -2 911-64% -9 247+194%
2020 q1 19 958+60% -6 870-16% -102-97%
2019 q4 ( 568 , 569 ) 13 252+50% -4 656-23% -5 996+42%
2019 q3 12 377+40% -8 433+39% -3 387-20%
2019 q2 12 503+53% -8 159+55% -3 143-7%
2019 q1 12 503+53% -8 159+55% -3 143-7%
2018 q4 ( 571 , 572 ) 8 861+12% -6 059-14% -4 214+83%
2018 q3 8 861+12% -6 059-14% -4 214+83%
2018 q2 8 198+1% -5 281-60% -3 371<-100%
2018 q1 8 198+1% -5 281-60% -3 371<-100%
2017 q4 ( 574 , 575 ) 7 901-38% -7 079-49% -2 303<-100%
2017 q3 7 901-38% -7 079-49% -2 303<-100%
2017 q2 8 129-33% -13 080>+200% 2 103<-100%
2017 q1 8 148-34% -13 099>+200% 2 103<-100%
2016 q4 ( 577 , 578 ) 12 711+56% -13 948>+200% 3 964<-100%
2016 q3 12 711+56% -13 948>+200% 3 964<-100%
2016 q2 12 135+17% -824-97% -10 169<-100%
2016 q1 12 276-42% -1 076-96% -9 974<-100%
2015 q4 ( 580 , 581 ) 8 136+27% -825-82% -6 312>+200%
2015 q3 8 136+27% -825-82% -6 312>+200%
2015 q2 ( 582 , 583 ) 10 387+41% -25 233>+200% 3 747<-100%
2015 q1 21 076>+200% -25 233>+200% 7 494<-100%
2014 q4 ( 584 , 585 ) 6 410>+200% -4 597+46% -1 631+75%
2014 q3 6 410>+200% -4 597+46% -1 631+75%
2014 q2 7 348>+200% -3 917>+200% -2 625>+200%
2014 q1 7-2% -4-44% -3<-100%
2013 q4 ( 587 , 588 , 589 ) 2-35% -3 159>+200% -932>+200%
2013 q3 2 -3 159-50% -932
2013 q2 14+5% -7<-100% -2<-100%
2013 q1 7 -7<-100% -2 286
2012 q4 3 -311-89% -41
2012 q3   -6 335>+200%  
2012 q2 13 -2 786+10% -509
2012 q1   -5 265-54%  
2011 q4   -2 892-33%  
2011 q3   -470-89%  
2011 q2   -2 5300%  
2011 q1   -11 522  
2010 q4   -4 314  
2010 q3   -4 407  
2010 q2   -2 521  
RSBU data *The values are shown in mln RUB The % change shows the difference from the same period last year

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Income


Q Revenue Gross profit Operating income Net income PercentProfit PercentLoss
 
2025 q2 29-99% 2<-100% -523<-100% -190<-100% 1 408-23% -770+6%
2025 q1 29+3% 2>+200% -478-1% -297>+200% 1 244-20% -726-3%
2024 q4 18 835-23% 18 808-23% 18 323-23% 18 357-23% 1 293+16% -834+11%
2024 q3 29<-100% 2<-100% -438<-100% 227-98% 1 210+29% -738-6%
2024 q2 3 670>+200% 3 643>+200% 3 155>+200% 3 767>+200% 1 837+61% -726-7%
2024 q1 28+14% 1-66% -484+10% -55<-100% 1 561+72% -748+20%
2023 q4 24 304+142% 24 281+142% 23 819+150% 23 934+133% 1 112+146% -750+103%
2023 q3 10 026>+200% 10 004>+200% 9 553>+200% 9 970+194% 939>+200% -782>+200%
2023 q2 873-47% 850-48% 225-81% 810>+200% 1 138>+200% -778>+200%
2023 q1 25 1 -441 179 905 -624
2022 q4 10 045 10 023 9 520 10 273 453 -369
2022 q3 1 633+36% 1 611+131% 1 054+51% 3 389>+200% 55 -19
2022 q2 1 650+76% 1 628>+200% 1 211>+200% 120+21% 86 -1
2021 q3 1 203+82% 698>+200% 698>+200% 752+169%    
2021 q2 937-76% 358-87% 358-87% 99-96%    
2021 q1 613>+200% 144+83% 144+83% 505+71%    
2020 q4 14 246+59% 10 685+141% 10 685+141% 10 177+133%    
2020 q3 662 209 209 279    
2020 q2 3 854 2 790 2 790 2 697    
2020 q1 57 79 79 295    
2019 q4 8 964 4 442 4 442 4 367    
2019 q3            
2018 q4            


Balance


Implied interest rate for 2025 q2:
= (PercentLoss - PercentProfit) * (365 / periodLength) / (NetDebt - MinorityInterest)
= (770 - 1 408) * 4 / (28 056 - 0)

Q Total equity Total assets Net debt
 
2025 q2 91 603+25% 162 421-6% 28 056-4%
2025 q1 91 793-5% 156 404-10% 20 340-39%
2024 q4 92 090-5% 169 073-10% 59 131+38%
2024 q3 73 732-16% 154 663-7% 55 327-3%
2024 q2 73 506-5% 172 861+10% 29 204-40%
2024 q1 96 5040% 173 892-7% 33 266-22%
2023 q4 96 560+11% 187 008+34% 42 756>+200%
2023 q3 87 6360% 166 813+20% 56 958>+200%
2023 q2 77 666>+200% 157 501+13% 48 708<-100%
2023 q1 96 560 187 008 42 756
2022 q4 87 207 139 116 6 801
2022 q3 87 207 139 116 6 801<-100%
2022 q2 7 207 139 116 -9 318-68%
2021 q3     -5 353-77%
2021 q2     -28 819+26%
2021 q1     -29 587+29%
2020 q4     -22 962>+200%
2020 q3     -22 962>+200%
2020 q2     -22 962
2020 q1     -22 962
2019 q4     -1 016+19%
2019 q3     -1 016
2018 q4     -855
More information for subscribed users:
detailed calculation of
Potential and Created Value,
commodities affecting the company