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General information

Moscow stock exchange. Benefits from growing number of brokerage accounts in Russia
  • Bad financial results growth rate -17.2% (average between last period year over year growth for revenue and Net Income), there is slowdown compared to average historical growth rates (34.8%)
  • Dividend yield for the last twelve months 15.4%
  • Share price is 127.6% higher than minimum and 32.7% lower than maximum for the last 3 years
  • The company is undervalued by P/E LTM multiple compared to target level (5.6x vs
    )
  • Fundamental value created in LTM (estimate)

Key Financials (Download financials)

Ticker: MOEX
Share price, RUB:  (-0.9%)169.45
year average price 196.74  


year start price 211.50 2024-09-19

max close price 239.79 2025-02-19

min close price 169.73 2025-07-11

current price 169.44 2025-09-18
Common stocks: 2 278 640 000
Dividend Yield:  15.4%
P / E LTM: 5.6x
P / E annualized: 6.4x
Last revenue growth (y/y):  -11.6%
Last growth of Net Income (y/y):  -22.8%
Historical revenue growth:  33.6%
Historical growth of Net Income:  36.0%
Target P/E (hist percentile):
Fundamental value created in LTM:
Fundamental value created in LTM:
 Mult Upside+17.0%
 FCF Creation0.0%
 Growth-17.2%
 Growth Corr-52.0%
 
 Sum-52.2%
P/E mutiple calculation
Market Cap (m RUB): 386 116
Net Profit (m RUB): 68 433
P / E LTM: 5.6x
Average daily trading volume for the week, RUB mln: 517
P / E 156.2x
P / E ann-d12.8x
P / B 1.6x
Рассчитаны в тестовом режиме, annualized:
ROE (Return on equity) 12.8%
ROA (Return on assets) 0.3%

Revenue and Net Income

Quarterly values (m RUB)

Change (y/y)

Share price and dividends (Download history)

Share price

Payment RUB per share

Multiple and potential

EV / LTM Net Income 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 (financial)


формула расчета Revenue = PercentIncomeNet + CommissionIncome
 
Q PercentIncome PercentExpense PercentIncomeNet ReserveForCreditLoss PercentIncomeNetAfterReserve CommissionIncome Revenue CommissionExpense CommissionIncomeNet OperationsWithFinancialInstruments OtherOperatingIncomeNet IncomeNonCoreNet AdministrativeExpense IncomeBeforeTax IncomeTax IncomeNet IncomeNetRegular IncomeNetIrregular
 
2025 q2 7 934-39%   -1 430-3% 95<-100% -1 334-14% 8 924+15% 7 494+19%   8 924+15% -3<-100% 54+172%   -6 100+154% 10 105-16% -2 577+10% 7 528-23% 7 530-23% -2<-100%
2025 q1 7 934-70%   -1 430<-100% 95<-100% -1 334<-100% 8 924-43% 7 494-81%   8 924-43% -3<-100% 54+33%   -6 100+27% 10 105-58% -2 577-45% 7 528-61% 7 530-64% -2<-100%
2024 q4 22 159+32% -2 429+89% 19 730+27% -341>+200% 19 389+25% 15 815+3% 35 545+15%   15 815+3% 395+34% 32+192%   -13 813+61% 24 511+5% -4 594-9% -6 292>+200% -6 792>+200% 500<-100%
2024 q3 22 159+32% -2 429+89% 19 730+27% -341>+200% 19 389+25% 15 815+3% 35 545+15%   15 815+3% 395+34% 32+192%   -13 813+61% 24 511+5% -4 594-9% -6 292>+200% -6 792>+200% 500<-100%
2024 q2 ( 8948 , 8949 ) 13 058+49% -2 935>+200% -1 467<-100% -92-23% -1 560<-100% 7 769-35% 6 302-69%   7 769-35% 26-96% 20<-100%   -2 405-59% 12 098-20% -2 350-22% 9 747-20% 9 726-15% 21-96%
2024 q1 26 118>+200% -2 935>+200% 23 183>+200% -185>+200% 22 998>+200% 15 539+160% 38 722>+200%   15 539+160% -1 866<-100% 41<-100%   -4 811+63% 24 196>+200% -4 701>+200% 19 495>+200% 20 999>+200% -1 504<-100%
2023 q4 16 849+27% -1 282+53% 15 567+25% -10<-100% 15 556+59% 15 425+38% 30 992+31%   15 425+38% 295-78% 11<-100%   -8 570+23% 23 270+74% -5 032+88% -1 463+30% -1 372+31% -92+19%
2023 q3 16 849+27% -1 282+53% 15 567+25% -10<-100% 15 556+59% 15 425+38% 30 992+31%   15 425+38% 295-78% 11<-100%   -8 570+23% 23 270+74% -5 032+88% -1 463+30% -1 372+31% -92+19%
2023 q2 8 768+73% -480-11% 8 288+83% -120-96% 8 168>+200% 11 933+196% 20 222+136%   11 933+196% 753+98% -228<-100%   -5 907+103% 15 113+193% -3 003+197% 12 110+192% 11 507>+200% 603+97%
2023 q1 4 380 -240 4 140 -60 4 080 5 967 10 107   5 967 376 -114   -2 953 7 557 -1 502 6 055 5 754 302
2022 q4 13 267>+200% -839+152% 12 428>+200% -2 626<-100% 9 802+49% 11 153-7% 23 581+49%   11 153-7% 1 326<-100% -304<-100%   -6 980+15% 13 386+44% -2 670+52% -1 122-85% -1 045-70% -77<-100%
2022 q3 13 267>+200% -839>+200% 12 428>+200% -2 626<-100% 9 802+197% 11 153+7% 23 581+72%   11 153+7% 1 326<-100% -304<-100%   -6 980+41% 13 386+59% -2 670+59% -1 122>+200% -1 045 -77
2022 q2 5 079+48% -538+77% 4 540+46% -3 316<-100% 1 225-66% 4 028-59% 8 569-34%   4 028-59% 381>+200% 45-73%   -2 903-41% 5 153-41% -1 010-44% 4 143-41% 3 837-45% 306>+200%
2021 q4 4 159+10% -333-24% 3 827+15% 2 759-2% 6 586+7% 11 963+19% 15 789+18%   11 963+19% -348+57% 159>+200%   -6 096+29% 9 316+5% -1 758-13% -7 689+16% -3 507-49% 5-98%
2021 q3 3 4880% -208-47% 3 281+6% 25>+200% 3 305+7% 10 412+25% 13 692+20%   10 412+25% -365+71% 37+113%   -4 951+17% 8 418+20% -1 678+17% -1<-100%    
2021 q2 3 425-22% -305-39% 3 120-20% 486>+200% 3 606-10% 9 927+24% 13 047+10%   9 927+24% 13<-100% 164>+200%   -4 944+19% 8 757+3% -1 794+7% 6 964+2% 6 953-2% 10<-100%
2021 q1 3 204-9% -345-47% 2 8590% -2 749-5% 109<-100% 9 253+17% 12 111+13%   9 253+17% -567+116% 53-38%   -4 524+23% 8 491+14% -1 656+8% 629-10% 671-8% -42+70%
2020 q4 3 777+20% -440-52% 3 337+118% 2 830<-100% 6 167>+200% 10 047+41% 13 384+55%   10 047+41% -222<-100% 51-98%   -4 711<-100% 8 878+23% -2 030+40% -6 635+30% -6 872+2% 237-85%
2020 q3 3 491+10% -394-49% 3 097+29% 4<-100% 3 101-7% 8 321+30% 11 418+30%   8 321+30% -214<-100% 17-44%   -4 223+12% 7 034+4% -1 436+8% 44-94% 45-93% -1<-100%
2020 q2 4 404+30% -498-29% 3 906+15% 91-96% 3 997-27% 7 991+22% 11 897+20%   7 991+22% -299-83% 10<-100%   -4 138+7% 8 489+16% -1 669+19% 6 820+16% 7 061-4% -240-84%
2020 q1 3 504-11% -653+19% 2 851-16% -2 902<-100% -51<-100% 7 910+29% 10 761+13%   7 910+29% -262<-100% 86<-100%   -3 678-2% 7 439+91% -1 535+93% 702>+200% 727>+200% -25<-100%
2019 q4 3 135-25% -908>+200% 1 528-62% -1 445>+200% 83-98% 7 103+13% 8 630-16%   7 103+13% 3 890<-100% 2 743>+200%   3 065+32% 7 197+6% -1 448+11% -5 114<-100% -6 711<-100% 1 597<-100%
2019 q3 3 164-31% -766>+200% 2 398-46% 953<-100% 3 351+4% 6 400+8% 8 798-15%   6 400+8% 425<-100% 31+162%   -3 776+8% 6 780+7% -1 327+10% 705-86% 661-88% 44<-100%
2019 q2 3 386-28% -699>+200% 3 386-27% 2 126<-100% 5 511+96% 6 562+11% 9 947-6%   6 562+11% -1 811>+200% -40-95%   -3 874+11% 7 310+26% -1 407+50% 5 903<-100% 7 365+40% -1 463>+200%
2019 q1 3 950-11% -547>+200% 3 404-22% 1 441<-100% 4 845+28% 6 118+11% 9 521-3%   6 118+11% 506<-100% -2 399+191%   -3 737+105% 3 893-29% -797-34% 1<-100% 1<-100% 0<-100%
2018 q4 4 205+6% -181+11% 4 024+6% -325<-100% 3 699-3% 6 297+9% 10 321+8%   6 297+9% -182<-100% 663>+200%   2 320-36% 6 768+14% -1 305+14% 10 362+18% 5 620-36% -154<-100%
2018 q3 4 577+19% -111-17% 4 466+20% -1 240<-100% 3 226-13% 5 918+8% 10 384+13%   5 918+8% -567<-100% 12-13%   -3 509+6% 6 314-1% -1 2070% 5 106-1% 5 565+27% -459<-100%
2018 q2 4 720+28% -68-75% 4 652+36% -1 841<-100% 2 811-18% 5 927+17% 10 579+25%   5 927+17% -478<-100% -731<-100%   -3 503+9% 5 804-12% -939-28% -32<-100% 5 266+6% -401<-100%
2018 q1 4 431-2% -87-67% 4 344+2% -552<-100% 3 792-11% 5 506+13% 9 850+8%   5 506+13% -721<-100% -825<-100%   -1 821-45% 5 487-11% -1 201+1% 4 284>+200% 4 847>+200% -563<-100%
2017 q4 3 965-29% -163>+200% 3 802-32% 0 3 802 5 791+16% 9 593-9%   5 791+16% 10<-100% 15-33%   3 649<-100% 5 961-23% -1 147-25% 8 815+5% 8 786+5% 28<-100%
2017 q3 3 851-31% -133>+200% 3 718-33% 0 3 718 5 459+10% 9 176-13%   5 459+10% 922<-100% 14-40%   -3 306+5% 6 351-18% -1 208-21% 5 143-38% 4 396-48% 747<-100%
2017 q2 3 687-38% -270>+200% 3 417<-100% 0 3 417<-100% 5 077+4% 8 494+74%   5 077+4% 402-20% 8+16%   -3 214+13% 6 607-17% -1 307-15% 5 300-17% 4 977-17% 322-20%
2017 q1 4 538-24% -264>+200% 4 274-28% 0 4 274 4 8810% 9 155-15%   4 8810% 33-93% 9+37%   -3 281+15% 6 188-22% -1 190-23% 998>+200% 993>+200% 5-15%
2016 q4 5 592-21% -39+142% 5 553-21%     4 975+11% 10 528-9%   4 975+11% -194<-100% 23-32%   -3 136+9% 7 784-14% -1 527-15% 8 361<-100% 8 385 -24
2016 q3 5 592-21% -39+142% 5 553-21%     4 975+11% 10 528-9%   4 975+11% -194<-100% 23-32%   -3 136+9% 7 784-14% -1 527-15% 8 361<-100% 8 385 -24
2016 q2 5 955-90% -1-98% -1<-100%   -1 4 873+13% 4 871-92%   4 873+13% 501-72% 7-69%   -2 853+7% 7 955+6% -1 546+2% 6 409<-100% 6 005+32% 404-72%
2016 q1 5 9550% -1-98% 5 954+2%     4 873+13% 10 826+7%   4 873+13% 501-72% 7-71%   -2 853+7% 7 955+6% -1 546+2% 100-98% 94-98% 6<-100%
2015 q4 7 040+92% -16-78% 7 023+96%     4 495+12% 11 518+51%   4 495+12% 470>+200% 33-81%   -2 870+8% 9 068+74% -1 785+72% -2 095<-100%    
2015 q3 7 040+92% -16-78% 7 023+96%     4 495+12% 11 518+51%   4 495+12% 470>+200% 33-81%   -2 870+8% 9 068+74% -1 785+72% -2 095<-100%    
2015 q2 59 313>+200% -75-76% 59 239>+200%     4 299-88% 63 538+68%   4 299-88% 1 816+152% 22+81%   -2 661+13% 7 515+71% -1 511+65% -210<-100% 4 553+57% 1 451+154%
2015 q1 5 931+98% -75-76% 5 857+118%     4 299+22% 10 156+64%   4 299+22% 1 816+152% 23+125%   -2 661+13% 7 515+71% -1 511+65% 6 004+73% 4 553+57% 1 451+154%
2014 q4 3 665+31% -74+9% 3 591+31%     4 021+6% 7 612+29%   4 021+6% 126<-100% 175>+200%   -2 670-14% 5 214+25% -1 041+43% 4 173+26% 4 071+43% 102<-100%
2014 q3 3 665+31% -74+9% 3 591+31%     4 021+6% 7 612+29%   4 021+6% 126<-100% 175>+200%   -2 670-14% 5 214+25% -1 041+43% 4 173+26% 4 071+43% 102<-100%
2014 q2 2 994+6% -308>+200% 2 686-5%     35 219>+200% 37 905>+200%   35 219>+200% 720<-100% 12-70%   -2 365+9% 4 387+6% -913+7% 3 474+5% 2 903-13% 570<-100%
2014 q1 2 994 -308 2 686     3 522+149% 6 208   3 522+149% 720<-100% 10-49%   -2 365>+200% 4 387+111% -913 3 474+110% 2 903+66% 570<-100%
2013 q4 2 802+8% -68-83% 2 734+25%     3 792+13% 5 902+17%   3 792+13% -74<-100% 38-24%   -3 0980% 4 182+35% -729+19% 3 310+39% 2 846+45% -86<-100%
2013 q3 2 802+8% -68>+200% 2 734+6%     3 792+13% 5 902+9%   3 792+13% -74<-100% 38-24%   -3 0980% 4 182+35% -729+19% 3 310+39% 2 846+51% -86<-100%
2013 q2 2 833 -1 2 833     3 288+152% 6 120   3 288+152% -24-65% 40+149%   -2 168>+200% 4 155>+200% -854 3 301>+200% 3 320 -19
2013 q1           1 416     1 416 -126 20   -563 2 078   1 651 1 751 -100
2012 q4 2 586+57% -393>+200% 2 193+34%     3 368+35% 5 045+22%   3 368+35% 301<-100% 50+60%   -3 108+62% 3 106+45% -613+30% 2 383+42% 1 963+14% 87<-100%
2012 q3 2 586+34% -11-95% 2 575+49%     3 368+35% 5 427+29%   3 368+35% 301<-100% 50+60%   -3 108+62% 3 106+45% -613+30% 2 383+42% 1 889+10% 161<-100%
2012 q2           1 304     1 304 -67 16   -97 1 336   1 051    
2011 q4 1 648+94% -16>+200% 1 632+92%   1 729 2 488+28% 4 120+47%   2 488+28% -64>+200% 31+142%   -1 922+57% 2 145+38% -470+33% 1 674+39% 1 725+41% -50>+200%
2011 q3 1 929 -200 1 729   1 729 2 488 4 217   2 488 -64 31   -1 922 2 145 -470 1 674 1 725 -50
2010 q4 852 0 851     1 942 2 793   1 942 -20 13   -1 226 1 559 -353 1 207 1 222 -15


Balance


Q Total equity Total assets PortfolioCredit PortfolioBonds Deposits
 
2025 q2 236 104+7% 10 734 435+12%   103 699-33% 1 151 187+40%
2025 q1          
2024 q4 261 898+17% 12 092 629+28%   116 770-30% 1 213 098+9%
2024 q3         1 213 098+9%
2024 q2 ( 8948 , 8949 ) 221 551+16% 9 584 804+27%   154 485-16% 819 458-7%
2024 q1         819 458-7%
2023 q4 223 103+26% 9 464 337+43%   166 082-8% 1 116 5600%
2023 q3         1 116 5600%
2023 q2 191 593+8% 7 528 510+14%   184 224 880 973-21%
2023 q1         880 973
2022 q4 176 742+26% 6 619 280+8%   181 178-29% 1 112 790+55%
2022 q3         1 112 790
2022 q2 176 742+38% 6 619 280+12%     1 112 790
2021 q4 140 171+1% 6 143 438+25%   253 460 718 395
2021 q3 134 423+2% 5 896 392+15%   250 495+24%  
2021 q2 128 028+1% 5 915 253+30%   233 133-3%  
2021 q1 143 387+6% 5 792 267+24%   221 279+5%  
2020 q4 139 290+6% 4 932 596+22%      
2020 q3 132 169+5% 5 146 983+37%   201 555+14%  
2020 q2 127 131+6% 4 547 459+20%   240 433+35%  
2020 q1 135 523+4% 4 676 346+6%   210 906+10%  
2019 q4 131 852+5% 4 028 594-1%   193 009-10%  
2019 q3 125 524+4% 3 748 798+9%   177 582-26%  
2019 q2 119 754+3% 3 781 289+20%   178 723-26%  
2019 q1 129 898+4% 4 391 020+39%   192 230-21%  
2018 q4 125 605+4% 4 082 585+35%   215 103>+200%  
2018 q3 120 287-1% 3 444 586+14%   239 763  
2018 q2 116 0200% 3 148 280+19%   241 985>+200%  
2018 q1 124 847+3% 3 166 833+5%   244 803  
2017 q4 121 279-2% 3 027 770+24%   414>+200%  
2017 q3 121 219 3 027 710      
2017 q2 116 125+3% 2 653 472+33%   77-74%  
2017 q1 121 219 3 027 710      
2016 q4 123 384+9% 2 441 938+38%   00%  
2016 q3          
2016 q2 112 733+15% 1 991 053+30%   291-95%  
2016 q1          
2015 q4 113 610+24% 1 766 318+20%   0<-100%  
2015 q3          
2015 q2 98 438+19% 1 536 190+61%   6 205-55%  
2015 q1          
2014 q4 91 847+12% 1 477 505>+200%   11 442-29%  
2014 q3          
2014 q2 82 786+9% 953 428+155%   13 728+127%  
2014 q1          
2013 q4 81 794+81% 466 465+42%   16 200-10%  
2013 q3          
2013 q2 76 062+69% 373 607+14%   6 048  
2013 q1          
2012 q4 45 075+54% 329 104+5%   18 026-62%  
2012 q3          
2012 q2 45 075 329 104      
2011 q4 29 297+5% 313 202+49%   47 259  
2011 q3          
2010 q4 27 772 210 876      


Cashflow


Q Operating cashflow Investing cashflow Financial cashflow
 
2025 q2 26 208<-100% -8 449>+200% -122-99%
2025 q1 26 208<-100% -8 449>+200% -122-99%
2024 q4 184 779>+200% -2 051<-100% -7 070>+200%
2024 q3 184 779>+200% -2 051<-100% -7 070>+200%
2024 q2 ( 8948 , 8949 ) -7 418-93% -614<-100% -17 203>+200%
2024 q1 -7 418-93% -614<-100% -17 203>+200%
2023 q4 10 280<-100% 797<-100% -1 959>+200%
2023 q3 10 280<-100% 797<-100% -1 959>+200%
2023 q2 -105 652<-100% 3 925-78% -4 511>+200%
2023 q1 -105 652 3 925 -4 511
2022 q4 -28 009<-100% -11 915-73% -64-99%
2022 q3 -28 009>+200% -11 915-43% -64-99%
2022 q2 1 296 721<-100% 17 489 -88
2021 q4 98 220<-100% -44 423-71% -5 510>+200%
2021 q3 -46>+200% -21 061<-100% -10 962>+200%
2021 q2 -31 725-73%    
2021 q1 31 725-73% -3 180<-100% -39-16%
2020 q4 -2+133% -150 652>+200% -40-14%
2020 q3 -1<-100% 52 372>+200% -40-42%
2020 q2 -117 758-66% -37 479<-100% -17 950+3%
2020 q1 117 758-66% 41<-100% -47+59%
2019 q4 -1<-100% -20 580<-100% -47<-100%
2019 q3 1<-100% 8 784+128% -69<-100%
2019 q2 -350 668+188% 17 723>+200% -17 441+42%
2019 q1 350 669+169% 15 902<-100% -29<-100%
2018 q4 113 924<-100% 31 510<-100% 5<-100%
2018 q3 -35 045-76% 3 861<-100% 83<-100%
2018 q2 -121 888-57% 2 581-93% -12 321-29%
2018 q1 130 226-61% -30 768>+200% 0<-100%
2017 q4 -14 021-86% -8 497-33% -5 607+113%
2017 q3 -146 087+42% -20 518+62% -162-94%
2017 q2 -283 362+118% 35 771<-100% -17 264+120%
2017 q1 332 771<-100% -5 269-84% 24<-100%
2016 q4 -103 192+48% -12 683-39% -2 630+88%
2016 q3 -103 192+48% -12 683-39% -2 630+88%
2016 q2 -129 713+150% -32 375+105% -7 830+82%
2016 q1 -129 713+150% -32 375+105% -7 830+82%
2015 q4 -69 672<-100% -20 915>+200% -1 400-21%
2015 q3 -69 672<-100% -20 915>+200% -1 400-21%
2015 q2 -51 968<-100% -15 760<-100% -4 291<-100%
2015 q1 -51 968<-100% -15 760<-100% -4 291<-100%
2014 q4 136 910>+200% -1 160-67% -1 764>+200%
2014 q3 136 910>+200% -1 160-67% -1 764>+200%
2014 q2 196 776>+200% 1 719<-100% 69-97%
2014 q1 196 776>+200% 1 719<-100% 69-97%
2013 q4 17 835-24% -3 535-77% -186<-100%
2013 q3 17 835-24% -3 535-77% -186<-100%
2013 q2 10 950<-100% -7 649+22% 2 140+69%
2013 q1 10 950 -7 649 2 140
2012 q4 23 504>+200% -15 535+26% 2 786+100%
2012 q3 23 504>+200% -15 535+174% 2 786<-100%
2012 q2 -12 239 -6 292 1 267
2011 q4 6 997<-100% -12 288>+200% 0+100%
2011 q3 6 997 -5 678 -1 192
2010 q4 -5 247 -2 733 -68
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 Net income
 
2025 q2    
2024 q4    
2024 q3    
2024 q2    
2023 q4    
2023 q3 12 858 232  
2023 q2    


Balance


Q Total equity Total assets PortfolioCredit PortfolioBonds Deposits
 
2025 q2 176 816+81%        
2024 q4 98 180        
2024 q3 98 349        
2024 q2 97 745        
2023 q4          
2023 q3          
2023 q2          
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