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General information

  • Good financial results growth rate 37.9% (average between last period year over year growth for revenue and EBITDA), there is slowdown compared to average historical growth rates (91.9%)
  • Dividend yield for the last twelve months 2.5%
  • Free cash flow yield -1.7% (LTM)
  • Share price is 0.8% higher than minimum and 60.1% lower than maximum for the last 3 years
  • The company is undervalued by EV / LTM EBITDA multiple compared to target level (5.6x vs
    )
  • Fundamental value created in LTM (estimate)
  • Taking into account the impact of the key rate 20.0% on the change in financial parameters: EBITDA adjustment is -38 mln rub as NetDebt * (current key rate - normalized 7%) / 2, expected EBITDA adjusted for key rate increases is 2 244 mln rub, expected mult is 5.6x, target mult is 10.7x, potential is +95.4%

Key Financials (Download financials)

Ticker: IVAT
Share price, RUB:  (-1.4%)120.45
year average price 192.04  


year start price 260.80 2024-07-13

max close price 260.80 2024-07-13

min close price 119.50 2025-05-26

current price 120.45 2025-07-12
Common stocks: 100 000 000
Dividend Yield:  2.5%
FCF Yield LTM: -1.7%
EV / LTM EBITDA:5.6x
EV / EBITDA annualized: 3.9x
Last revenue growth (y/y):  47.3%
Last growth of EBITDA (y/y):  28.5%
Historical revenue growth:  87.7%
Historical growth of EBITDA:  96.2%
Target EV / EBITDA (hist percentile):
Express share price potential:
Fundamental value created in LTM:
Fundamental value created in LTM:
 Mult Upside+90.2%
 FCF Creation-1.7%
 Growth+37.9%
 Growth Corr-54.0%
 
 Sum+72.4%
EV / LTM EBITDA mutiple calculation
Market Cap (m RUB): 12 045
Net Debt (m RUB): 473
EV (Enterprise Value): 12 518
EBITDA LTM (m RUB): 2 218
Net Income LTM (m RUB): 1 448
EV / LTM EBITDA: 5.6x
Net Debt / LTM EBITDA (if EBITDA > 0): 0.2x
Average daily trading volume for the week, RUB mln: 23
P / E 8.3x
P / E ann-d6.3x
P / B 2.4x
EBITDA margin ann-d 70.2%
Net income margin ann-d 42.0%

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

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