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General information

Leading nickel and PGMs producer. Recently enjoys increasing demand due to grow of electric vehicles and renewables. In 2020 faced ecological problems / is likely to pay large (over $2bn) fine, which put certain pressure on the company share prices
  • Current market environment: negative. Prices of production are 5.1% lower compared to the last 12 months (LTM)
  • Prices of production are at 9.7% percentile over the past 5 years, adjusted for inflation (are close to minimun)
  • Dividend yield for the last twelve months 5.8%
  • Free cash flow yield 3.2% (LTM), projected 0.0%
  • Share of USD-denominated sales in revenue of the company (estimate) ≈ 100.0%
  • Share price is 43.8% higher than minimum and 36.6% lower than maximum for the last 3 years
  • The company is overvalued by EV / LTM EBITDA multiple compared to target level (7.2x vs
    )
  • The company is overvalued by EV / projected EBITDA multiple compared to target level (
    vs
    )
  • Taking into account the impact of the key rate 21% on the change in financial parameters: EBITDA adjustment is -59 802 mln rub as NetDebt * (current key rate - normalized 7%) / 2, expected EBITDA adjusted for key rate increases is 297 507 mln rub, expected mult is 10x, target mult is 6.9x, potential is -43.7%

Key Financials (Download financials)

Ticker: GMKN
Share price, RUB:  (0%)138
year average price 127.60  


year start price 144.88 2024-02-25

max close price 164.80 2024-04-12

min close price 96.00 2024-12-16

current price 138.00 2025-02-23
Common stocks: 15 365 000 000
Dividend Yield:  5.8%
FCF Yield LTM / expected: 3.2% / 0.0%
EV / LTM EBITDA: 7.2x
EV / EBITDA annualized: 6.3x
Production prices change from LTM: -5.1%
EV / projected EBITDA:
Target EV / EBITDA (hist percentile):
Express share price potential:
EV / LTM EBITDA mutiple calculation
Market Cap (m RUB): 2 120 370
Net Debt (m RUB): 1 070 107
EV (Enterprise Value): 3 190 477
EBITDA LTM (m RUB): 441 720
Net Income LTM (m RUB): 172 335
EV / LTM EBITDA: 7.2x
Average daily trading volume for the week, RUB mln: 4875
P / E 12.7x
P / B 0.9x

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

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