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General information

  • Current market environment: positive. Prices of production are 4.4% higher compared to the last 12 months (LTM)
  • Prices of production are at 93.9% percentile over the past 5 years, adjusted for inflation (are close to maximum)
  • Dividend yield for the last twelve months 7.0%
  • Free cash flow yield -19.1% (LTM), projected -30.6%
  • Share of USD-denominated sales in revenue of the company (estimate) 29.5%
  • Share price is 55.2% higher than minimum and 38.6% lower than maximum for the last 3 years
  • The company is overvalued by EV / LTM EBITDA multiple compared to target level (6.9x 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 -8 035 mln rub as NetDebt * (current key rate - normalized 7%) / 2, expected EBITDA adjusted for key rate increases is 14 167 mln rub, expected mult is 21.6x, target mult is 7.0x, potential is -142.6%

Key Financials (Download financials)

Ticker: GCHE
Share price, RUB:  (+0.5%)3446
year average price 3921  


year start price 4415 2024-09-17

max close price 4636 2025-02-13

min close price 3102 2025-07-11

current price 3446 2025-09-16
Common stocks: 42 222 042
Dividend Yield:  7.0%
FCF Yield LTM / expected: -19.1% / -30.6%
EV / LTM EBITDA:6.9x
EV / EBITDA annualized: 5.8x
Production prices change from LTM: 4.4%
EV / projected EBITDA:
Target EV / EBITDA (hist percentile):
Express share price potential:
EV / LTM EBITDA mutiple calculation
Market Cap (m RUB): 145 497
Net Debt (m RUB): 150 108
EV (Enterprise Value): 295 605
EBITDA LTM (m RUB): 43 052
Net Income LTM (m RUB): 14 881
EV / LTM EBITDA: 6.9x
Net Debt / LTM EBITDA (if EBITDA > 0): 3.5x
Average daily trading volume for the week, RUB mln: 10
P / E 9.8x
P / E ann-d10.5x
P / B 1.1x
EBITDA margin ann-d 18.6%
Net income margin ann-d 5.1%

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 68 429+9% 18 846-3% 8 720-19% 3 476-57% 463+106% -5 596+132%
2025 q1 68 429+11% 18 846-3% 8 720-19% 3 476-57% 463+106% -5 596+132%
2024 q4 67 735+7% 16 309-14% 6 592-36% 3 965-52% 299-21% -3 337+97%
2024 q3 67 735+9% 16 309-14% 6 592-36% 3 965-52% 299-21% -3 337+97%
2024 q2 62 764+22% 19 456+18% 10 777+15% 8 040-3% 225-40% -2 412+53%
2024 q1 61 905+20% 19 512+19% 10 777+15% 8 040-3% 225-40% -2 412+53%
2023 q4 63 302+33% 18 962+75% 10 347+128% 8 234+124% 377+110% -1 698+33%
2023 q3 61 949+30% 18 962+75% 10 347+128% 8 234+124% 377+110% -1 698+33%
2023 q2 51 407+16% 16 466+72% 9 402+140% 8 325+130% 376>+200% -1 578+32%
2023 q1 51 407+16% 16 466+72% 9 402+140% 8 325+140% 376>+200% -1 578+32%
2022 q4 ( 3119 , 7587 ) 47 7110% 10 829+17% 4 531+14% 3 668+8% 179+174% -1 277+61%
2022 q3 47 711+5% 10 829+17% 4 531+14% 3 668+8% 179+174% -1 277+61%
2022 q2 44 459+9% 9 577-21% 3 923-47% 3 615-46% 99+146% -1 197+54%
2022 q1 44 459+12% 9 577-19% 3 923-47% 3 468-48% 99+146% -1 197+54%
2021 q4 47 608+30% 9 255+9% 3 991-9% 3 395-8% 65+50% -793-19%
2021 q3 45 400+24% 9 255+9% 3 991-9% 3 395-8% 65+50% -793-19%
2021 q2 40 741+34% 12 064+29% 7 395+35% 6 701+63% 40-18% -778-28%
2021 q1 39 773+31% 11 896+23% 7 395+35% 6 701+63% 40-18% -778-28%
2020 q4 36 499+6% 8 462+23% 4 407+91% 3 675+167% 44-23% -979-15%
2020 q3 36 499+6% 8 462+23% 4 407+91% 3 675+167% 44-23% -979-15%
2020 q2 30 413+5% 9 334+28% 5 480+68% 4 121+64% 49-33% -1 087+5%
2020 q1 30 413+5% 9 680+32% 5 480+68% 4 121+64% 49-33% -1 087+5%
2019 q4 34 490+16% 6 852-10% 2 307-33% 1 378-46% 57-25% -1 151+41%
2019 q3 34 490+8% 6 852-10% 2 307-33% 1 378-46% 57-25% -1 151+41%
2019 q2 28 980+28% 7 309-12% 3 267-38% 2 518-42% 74+15% -1 033+26%
2019 q1 28 980+23% 7 309-18% 3 267-38% 2 518-42% 74+15% -1 033+26%
2018 q4 29 675+22% 7 654+34% 3 439+61% 2 557+143% 75+9% -816-15%
2018 q3 31 892+31% 7 654+34% 3 439+61% 2 557+143% 75+9% -816-15%
2018 q2 22 572+1% 8 291+29% 5 238+58% 4 308+73% 64-8% -820+7%
2018 q1 23 604+5% 8 961+39% 5 238+58% 4 308+73% 64-9% -820+7%
2017 q4 24 336+5% 5 706+24% 2 138+54% 1 053+113% 69-12% -965-6%
2017 q3 24 336+5% 5 706+24% 2 138+54% 1 053+113% 69-12% -965-6%
2017 q2 22 378+10% 6 440+58% 3 312>+200% 2 490>+200% 70-35% -769+14%
2017 q1 22 378+10% 6 440+58% 3 312>+200% 2 490>+200% 70-35% -769+14%
2016 q4 23 191+18% 4 594-3% 1 390-20% 493-62% 79-4% -1 021+189%
2016 q3 23 191+18% 4 594-3% 1 390-20% 493-62% 79-4% -1 021+189%
2016 q2 20 290+12% 4 072-30% 886-72% 407-86% 108+174% -675+122%
2016 q1 20 290+12% 4 072-19% 886-62% 407-80% 108 -675+122%
2015 q4 ( 714 , 715 ) 19 642-17% 4 715-41% 1 737-64% 1 313-73% 82+17% -354+4%
2015 q3 19 642-17% 4 715-41% 1 737-64% 1 313-73% 82 -354+4%
2015 q2 18 106+19% 5 794+30% 3 113+37% 2 873+6% 39 -304+28%
2015 q1 18 106+19% 5 004+12% 2 322+2% 2 082+1%   -304+28%
2014 q4 ( 717 , 718 ) 23 646+71% 8 019+159% 4 799>+200% 4 907>+200% 70 -339+64%
2014 q3 23 646+71% 8 019+159% 4 799>+200% 4 907>+200%   -339+64%
2014 q2 15 257+24% 4 442+86% 2 267>+200% 2 722>+200%   -238+22%
2014 q1 15 239 4 457 2 286 2 052>+200%   -238
2013 q4 13 834+13% 3 093-12% 829-54% 651-65%   -207+41%
2013 q3 13 834+13% 3 093-12% 829-54% 651-65%   -207+41%
2013 q2 12 344 2 385 398 140-91%   -196
2013 q1       140-91%    
2012 q4 12 194+6% 3 517+23% 1 803+42% 1 876+49%   -147+3%
2012 q3 12 283+7% 3 510+22% 1 803+36% 1 876+49%   -147+28%
2012 q2       1 532+63%    
2012 q1       1 546    
2011 q4 11 490+26% 2 864+15% 1 271-1% 1 256+10%   -142+16%
2011 q3 11 492 2 882 1 329 1 256   -115
2011 q2       940    
2010 q4 9 146 2 492 1 285 1 144   -123


Balance


Implied interest rate for 2025 q2:
= (PercentLoss - PercentProfit) * (365 / periodLength) / (NetDebt - MinorityInterest)
= (5 596 - 463) * 4 / (150 108 - 339)

Q Total equity Total assets Net debt Implied interest rate NetDebt / LTM EBITDA
 
2025 q2 127 9210% 339 442+13% 150 108+31% 13.7% 3.49x
2025 q1         3.25x
2024 q4 125 146+4% 327 475+15% 140 900+38% 8.6% 3.04x
2024 q3         2.35x
2024 q2 127 368+17% 300 291+13% 114 556+17% 7.7% 1.84x
2024 q1         1.93x
2023 q4 119 982+31% 283 692+10% 101 841+6% 5.2% 2.04x
2023 q3         2.37x
2023 q2 108 606+20% 265 606+26% 98 199+4% 4.9% 2.86x
2023 q1         3.02x
2022 q4 ( 3119 , 7587 ) 91 663+14% 258 816+33% 96 520+25% 4.6% 3.20x
2022 q3         3.08x
2022 q2 90 312+13% 210 947+14% 94 824+31% 4.7% 3.10x
2022 q1         2.78x
2021 q4 80 316+12% 194 818+17% 76 943+18% 3.8% 2.63x
2021 q3         2.92x
2021 q2 79 803+19% 184 384+19% 72 208+13% 4.1% 2.65x
2021 q1         2.52x
2020 q4 71 902+17% 166 269+15% 65 101+4% 5.8% 2.45x
2020 q3         2.47x
2020 q2 67 023+9% 154 321+7% 63 914-3% 6.6% 2.78x
2020 q1         2.95x
2019 q4 61 284+1% 144 448-3% 62 726+4% 7.1% 3.03x
2019 q3         2.85x
2019 q2 61 674+6% 144 798+14% 65 825+26% 5.9% 3.13x
2019 q1         3.00x
2018 q4 60 809+15% 148 178+25% 60 190+19% 5.0% 3.03x
2018 q3         3.17x
2018 q2 58 313-1% 126 485+9% 52 324+16% 5.9% 3.65x
2018 q1         3.59x
2017 q4 52 780-2% 118 644+12% 50 376+30% 7.3% 3.26x
2017 q3         2.94x
2017 q2 58 618+11% 116 382+9% 44 929+10% 6.4% 2.86x
2017 q1         3.03x
2016 q4 54 040+7% 106 338+22% 38 617+38% 10.0% 3.73x
2016 q3         7.48x
2016 q2 52 965+16% 106 498+23% 40 813 5.7% 14.84x
2016 q1         55.45x
2015 q4 ( 714 , 715 ) 50 539+9% 87 436+3% 27 892 4.0%  
2015 q3          
2015 q2 45 721+25% 86 328+16%      
2015 q1          
2014 q4 ( 717 , 718 ) 46 281+44% 84 750+26%      
2014 q3          
2014 q2 36 488+20% 74 539+11%      
2014 q1          
2013 q4 32 129+6% 67 222+5%      
2013 q3          
2013 q2 30 387+12% 67 061>+200%      
2013 q1          
2012 q4 30 204+24% 64 246      
2012 q3          
2012 q2 27 012>+200% 2 102      
2012 q1          
2011 q4 24 426        
2011 q3          
2011 q2 727        
2010 q4          


Cashflow


Q Operating cashflow Investing cashflow Financial cashflow
 
2025 q2 3 865-49% -5 283-37% 2 707<-100%
2025 q1 3 865-50% -5 283-38% 2 707<-100%
2024 q4 7 921-23% -12 982+29% 3 797<-100%
2024 q3 7 921-23% -12 982+29% 3 797<-100%
2024 q2 7 610+70% -8 400+51% -1 251-78%
2024 q1 7 758+73% -8 548+54% -1 251-78%
2023 q4 10 302+15% -10 055+30% -4 503<-100%
2023 q3 10 302+15% -10 055+30% -4 503<-100%
2023 q2 4 481<-100% -5 567+45% -5 653<-100%
2023 q1 4 481<-100% -5 567+45% -5 653<-100%
2022 q4 ( 3119 , 7587 ) 8 976+61% -7 722+42% 7 059>+200%
2022 q3 8 976+61% -7 722+42% 7 059>+200%
2022 q2 -185<-100% -3 849-26% 953-52%
2022 q1 -603<-100% -3 849-26% 953-52%
2021 q4 5 576+21% -5 449+53% 905<-100%
2021 q3 5 576+21% -5 449+53% 905<-100%
2021 q2 4 272+46% -5 190+170% 1 986>+200%
2021 q1 4 272+46% -5 190+170% 1 986>+200%
2020 q4 4 612-3% -3 559+22% -336-87%
2020 q3 4 612-3% -3 559+22% -336-87%
2020 q2 2 934+62% -1 920-13% 247<-100%
2020 q1 2 934+62% -1 920-13% 247<-100%
2019 q4 4 748+21% -2 921-34% -2 573<-100%
2019 q3 4 748+21% -2 921-34% -2 573<-100%
2019 q2 1 811-24% -2 195+3% -3 689<-100%
2019 q1 1 811-24% -2 195+3% -3 689<-100%
2018 q4 3 927+20% -4 396+19% 3 329>+200%
2018 q3 3 927+20% -4 396+19% 3 329>+200%
2018 q2 2 397-26% -2 132-53% 63-96%
2018 q1 2 396-26% -2 131-53% 63-96%
2017 q4 3 261+11% -3 704+32% 248<-100%
2017 q3 3 261+11% -3 704+32% 248<-100%
2017 q2 3 233>+200% -4 576+111% 1 630<-100%
2017 q1 3 233>+200% -4 576+111% 1 630<-100%
2016 q4 2 944+171% -2 815+4% -936<-100%
2016 q3 2 944+171% -2 815+4% -936<-100%
2016 q2 537-69% -2 165+9% -509<-100%
2016 q1 537 -2 165 -509<-100%
2015 q4 ( 714 , 715 ) 1 084-62% -2 698-13% 3 188<-100%
2015 q3 1 084 -2 698-13% 3 188<-100%
2015 q2 1 739 -1 992-15% 83<-100%
2015 q1     83<-100%
2014 q4 ( 717 , 718 ) 2 844 -3 105>+200% -1 153+180%
2014 q3   -3 105>+200% -1 153+180%
2014 q2   -2 354+17% -91<-100%
2014 q1   -2 354 -91<-100%
2013 q4   -1 011-35% -411<-100%
2013 q3   -1 011-38% -411<-100%
2013 q2   -2 012 1 433<-100%
2013 q1     1 433<-100%
2012 q4   -1 552-13% 0+100%
2012 q3   -1 640-2% 0+100%
2012 q2     -766>+200%
2012 q1     -695
2011 q4   -1 790+9% -534<-100%
2011 q3   -1 669 -534
2011 q2     -240
2010 q4   -1 639 581
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 3 227-64% 771-90% -200<-100% -418<-100% 1 320+177% -1 702+195%
2025 q1 8 147>+200% 5 674>+200% 4 822<-100% 4 810<-100% 882+60% -1 055+64%
2024 q4 7 329>+200% 4 868>+200% 4 059<-100% 3 997<-100% 822+22% -977+29%
2024 q3 7 036-26% 5 088-41% 4 300-46% 4 052-48% 710-6% -822+3%
2024 q2 8 8420% 7 732-5% 6 775-5% 6 724-6% 476-46% -578-34%
2024 q1 2 030+54% 755+17% -22-77% -61+40% 551-42% -642-31%
2023 q4 2 395-53% 1 032-77% -96<-100% -258<-100% 673+3% -756+16%
2023 q3 9 546>+200% 8 586>+200% 8 030<-100% 7 855<-100% 759+74% -799+89%
2023 q2 8 813>+200% 8 104>+200% 7 099<-100% 7 133<-100% 879+103% -871+88%
2023 q1 1 314+14% 646+29% -98+20% -44-68% 952+122% -936+148%
2022 q4 ( 4072 , 8807 ) 5 128+10% 4 473+8% 3 847+10% 3 740+8% 650+50% -653+67%
2022 q3 945-79% 314-92% -151<-100% -258<-100% 437+7% -424+10%
2022 q2 1 185-77% 515-89% -65<-100% -84<-100% 433+8% -462+21%
2022 q1 1 150-84% 502-92% -82<-100% -138<-100% 428+52% -3780%
2021 q4 4 681+56% 4 146+69% 3 485+65% 3 469+82% 432 -392
2021 q3 4 571+43% 4 027+50% 3 425+45% 3 443+80% 406 -384
2021 q2 5 154>+200% 4 600>+200% 4 109>+200% 4 012>+200% 401 -380
2021 q1 7 031+68% 6 437+75% 5 994+83% 5 812+89% 282 -376
2020 q4 3 000+47% 2 456+66% 2 112+77% 1 909+108%    
2020 q3 3 186-8% 2 688-11% 2 370-10% 1 908-26%    
2020 q2 869-24% 363-45% 86-66% 57<-100%    
2020 q1 4 193-25% 3 683-29% 3 270-32% 3 072-33%    
2019 q4 2 037-65% 1 477-72% 1 195-74% 919+18%    
2019 q3 3 466+54% 3 006+62% 2 636+59% 2 584+82%    
2019 q2 1 141-57% 659-71% 253-87% -214<-100%    
2019 q1 5 589+126% 5 165+144% 4 814+159% 4 597+159%    
2018 q4 ( 4088 , 4089 , 4090 , 4091 ) 5 768 5 284 4 569 780    
2018 q3 2 251 1 859 1 661 1 423    
2018 q2 2 649 2 276 1 993 1 384    
2018 q1 2 477 2 120 1 859 1 772    


Balance


Implied interest rate for 2025 q2:
= (PercentLoss - PercentProfit) * (365 / periodLength) / (NetDebt - MinorityInterest)
= (1 702 - 1 320) * 4 / (5 240 - 0)

Q Total equity Total assets Net debt
 
2025 q2 33 505+7% 84 190+49% 5 240>+200%
2025 q1 38 100+55% 88 498+52% 189<-100%
2024 q4 33 2900% 68 354+6% 625>+200%
2024 q3 29 293-13% 69 552-7% 586-40%
2024 q2 31 241+2% 56 387-15% 546-91%
2024 q1 24 517+4% 58 073-16% -406<-100%
2023 q4 33 250+41% 64 395-7% 77-99%
2023 q3 33 508+29% 74 789+45% 977-90%
2023 q2 30 653+16% 66 431+29% 6 033-40%
2023 q1 23 520-11% 69 080+38% 3 346-83%
2022 q4 ( 4072 , 8807 ) 23 563-11% 69 090+38% 13 267-33%
2022 q3 26 074-2% 51 405+3% 10 030-50%
2022 q2 26 328-1% 51 507+3% 10 002-50%
2022 q1 26 416-1% 49 9790% 19 9090%
2021 q4 26 554 49 964 19 908-11%
2021 q3 26 554 49 964 19 908+29%
2021 q2 26 554 49 964 19 908+31%
2021 q1 26 554 49 964 19 908+51%
2020 q4     22 377+47%
2020 q3     15 380>+200%
2020 q2     15 208>+200%
2020 q1     13 165<-100%
2019 q4     15 200<-100%
2019 q3     4 636<-100%
2019 q2     4 985<-100%
2019 q1     -54-92%
2018 q4 ( 4088 , 4089 , 4090 , 4091 )     -689
2018 q3     -689
2018 q2     -689
2018 q1     -689
More information for subscribed users:
detailed calculation of
Potential and Created Value,
commodities affecting the company