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General information

Interregional Distribution Grid Co of Centre PJSC (IDGC of Centre), also known as MRSK Centre, manages electricity distribution, connects new customers to the electricity grid, and offers other services. The Company develops and installs smart grid and power metering systems. IDGC of Centre operates in several regions in the Central European area of Russia.
  • Good financial results growth rate 17.6% (average between last period year over year growth for revenue and EBITDA), there is slowdown compared to average historical growth rates (55.5%)
  • Dividend yield for the last twelve months 9.4%
  • Free cash flow yield 5.5% (LTM)
  • Share price is 241.2% higher than minimum and 4.6% lower than maximum for the last 3 years
  • The company is undervalued by EV / LTM EBITDA multiple compared to target level (2.0x vs
    )
  • Fundamental value created in LTM (estimate)

Key Financials (Download financials)

Ticker: MRKC
Share price, RUB:  (-0.1%)0.7185
year average price 0.5585  


year start price 0.3806 2024-09-19

min close price 0.3780 2024-10-24

max close price 0.7528 2025-08-05

current price 0.7185 2025-09-18
Common stocks: 42 217 940 000
Dividend Yield:  9.4%
FCF Yield LTM: 5.5%
EV / LTM EBITDA:[с учетом прогноза: 1.8x]    2.0x
EV / EBITDA annualized: 1.9x
Last revenue growth (y/y):  11.5%
Last growth of EBITDA (y/y):  23.8%
Historical revenue growth:  69.0%
Historical growth of EBITDA:  41.9%
Target EV / EBITDA (hist percentile):
Fundamental value created in LTM:
Fundamental value created in LTM:
[с учетом прогноза фин показателей]
 Mult Upside+51.8%
 FCF Creation+8.7%
 Growth+20.9%
 Growth Corr-34.6%
 
 Sum+46.8%
EV / LTM EBITDA mutiple calculation
Market Cap (m RUB): 30 334
Net Debt (m RUB): 35 966
EV (Enterprise Value): 66 300
EBITDA LTM (m RUB): 33 544
Net Income LTM (m RUB): 7 929
EV / LTM EBITDA: 2.0x
Net Debt / LTM EBITDA (if EBITDA > 0): 1.1x
Average daily trading volume for the week, RUB mln: 22
P / E 3.8x
P / E ann-d3.6x
P / B 0.5x
EBITDA margin ann-d 25.4%
Net income margin ann-d 6.3%

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 33 440+11%   4 797+31% 2 119+37% 301-30% -1 617+31%
2025 q1 37 568+7%   6 587+35% 3 269+32% 309-28% -1 691+25%
2024 q4 40 065+8%   3 859>+200% -45-61% 724-27% -1 269+108%
2024 q3 32 934+15%   5 184+48% 2 585+15% 363+55% -1 460+38%
2024 q2 29 999+3%   3 666-6% 1 543-22% 429+162% -1 238+50%
2024 q1 35 153+4%   4 897-16% 2 478-35% 431+136% -1 356+69%
2023 q4 37 033+10%   501-81% -114<-100% 997+111% -611-35%
2023 q3 28 525+9%   3 506+100% 2 239>+200% 234+65% -1 058+11%
2023 q2 29 242+16%   3 907+39% 1 980+147% 164<-100% -824-42%
2023 q1 33 654+15%   5 842+25% 3 812+43% 183-44% -804-19%
2022 q4 33 788-15%   2 668+87% 956<-100% 473>+200% -939-34%
2022 q3 26 188+3%   1 749-24% 479-42% 142>+200% -949+10%
2022 q2 25 297+4%   2 812+12% 802-36% -12<-100% -1 414+95%
2022 q1 29 317+5%   4 670+20% 2 668+10% 325>+200% -990+42%
2021 q4 39 783+43%   1 425<-100% -128<-100% 101-93% -1 433+52%
2021 q3 25 453<-100%   2 289+26% 823-62% 40-41% -863<-100%
2021 q2 24 262<-100%   2 508<-100% 1 252<-100% 37<-100% -724<-100%
2021 q1 27 881+10%   3 905+18% 2 426+23% 60-26% -698-12%
2020 q4 27 906+8%   -91 648<-100% 343-68% 1 377>+200% -943+14%
2020 q3 -23 149<-100%   1 819+18% 2 181>+200% 67+92% 14<-100%
2020 q2 -4 147<-100%   -2 875<-100% -2 333>+200% -32<-100% 13<-100%
2020 q1 25 294+1%   3 302+15% 1 965+32% 82+100% -795-11%
2019 q4 25 952+2%   2 444+35% 1 085+18% 29+78% -828+1%
2019 q3 22 120+2%   1 539+99% 492<-100% 35>+200% -869+9%
2019 q2 21 460+1%   960-27% -6<-100% 42-39% -865+12%
2019 q1 25 110-1%   2 874-17% 1 489-22% 41+21% -8940%
2018 q4 25 506+1%   1 808-92% 919+192% 16-66% -816-12%
2018 q3 21 674+5%   774<-100% -159-36% 6-91% -797-18%
2018 q2 21 311+2%   1 311-27% 316+15% 69-58% -774-17%
2018 q1 25 444+5%   3 483-17% 1 919-22% 34-80% -894-6%
2017 q4 25 330+3%   22 557>+200% 315-87% 48+37% -930-29%
2017 q3 20 560+1%   -19 363<-100% -2460% 63+106% -9700%
2017 q2 20 928+9%   1 793+12% 275+23% 163+31% -935-14%
2017 q1 24 298+9%   4 194+60% 2 453+7% 167+58% -950-16%
2016 q4 24 497+20%   2 921+72% 2 501>+200% 35-54% -1 306+20%
2016 q3 20 278-1%   2 110+24% -246<-100% 31-60% -970-11%
2016 q2 19 238-1%   1 594-20% 224-62% 125+59% -1 092+8%
2016 q1 22 282+15%   2 620+32% 2 283>+200% 106+35% -1 128+12%
2015 q4 20 459-12%   1 697-69% 99<-100% 77>+200% -1 088+37%
2015 q3 20 459-12%   1 697-69% 99<-100% 77>+200% -1 088+37%
2015 q2 19 453-18%   1 984-18% 583-55% 79+119% -1 009+54%
2015 q1 19 453+12%   1 984<-100% 583+71% 79+47% -1 009>+200%
2014 q4 23 222-9%   5 434>+200% -1 209+147% 24+67% -797+25%
2014 q3 23 222-9%   5 434>+200% -1 209+147% 24+67% -797+25%
2014 q2 23 843+57%   2 409<-100% 1 300>+200% 36-45% -655+186%
2014 q1 17 325+1%   -17 052<-100% 341-80% 53+14% -259-41%
2013 q4 25 407+46%   230-85% -490<-100% 14 -637+36%
2013 q3 25 407+46%   230-85% -490<-100% 14 -637+36%
2013 q2 15 196-14%   -15 105<-100% 72-96% 65>+200% -229-43%
2013 q1 17 076-3%   2 706-6% 1 735-10% 47+147% -436+8%
2012 q4 17 459-3%   1 554-35% 837-42%   -469+22%
2012 q3 17 459-3%   1 554-35% 837-42%   -469+22%
2012 q2 17 608+19%   2 893+64% 1 918+64% 19-50% -4050%
2012 q1 17 608+19%   2 893+64% 1 918+64% 19-50% -4050%
2011 q4 18 091+19%   2 388+47% 1 454+14% 27-21% -383+2%
2011 q3 18 091+19%   2 388+47% 1 454+14% 27 -383
2011 q2 14 768   1 768 1 172 38 -407
2011 q1 14 768   1 768 1 172 38 -407
2010 q4 15 153+23%   1 628+61% 1 275+142% 34 -377
2010 q3 15 153   1 628 1 275    
2010 q2            
2009 q4 12 328+13%   1 012-32% 527-24%    
2009 q3            
2008 q4 10 932+32%   1 484+39% 696+23% 3-93% -393+85%
2008 q3 10 932   1 484 696 3 -393
2007 q4 8 285   1 070 564 41 -212


Balance


Implied interest rate for 2025 q2:
= (PercentLoss - PercentProfit) * (365 / periodLength) / (NetDebt - MinorityInterest)
= (1 617 - 301) * 4 / (35 966 - -2)

Q Total equity Total assets Net debt Implied interest rate NetDebt / LTM EBITDA
 
2025 q2 67 192+8% 161 300+7% 35 966+3% 14.6% 1.07x
2025 q1 68 087+7% 161 513+7% 36 386+5% 15.2% 1.14x
2024 q4 64 819+7% 158 878+7% 39 176+3% 5.6% 1.30x
2024 q3 65 123+8% 154 796+8% 36 035-14% 12.3% 1.34x
2024 q2 62 421+7% 150 863+8% 34 875-15% 9.4% 1.39x
2024 q1 63 365+12% 151 130+7% 34 734-13% 10.8% 1.38x
2023 q4 60 644+15% 148 754+6% 38 107-5% -4.1% 1.46x
2023 q3 60 246+13% 143 679+7% 41 749-6% 8.0% 1.50x
2023 q2 58 366+10% 139 296+4% 40 829-11% 6.5% 1.62x
2023 q1 56 804+5% 140 842+7% 40 094-15% 6.3% 1.97x
2022 q4 52 847+3% 139 804+7% 39 985-17% 4.7% 2.78x
2022 q3 53 320+4% 134 053+8% 44 587-4% 7.3% 3.08x
2022 q2 52 909+5% 133 624+7% 45 900-4%   3.03x
2022 q1 54 240+7% 131 938+4% 47 314+5% 5.8% 2.65x
2021 q4 51 221+7% 130 350+7% 48 181+3% 11.3% 2.20x
2021 q3 51 315+3% 124 695-1% 46 659+2% 7.2% 2.45x
2021 q2 50 442+6% 125 007+4% 47 865+5% 5.9% 2.40x
2021 q1 50 603+5% 126 303+5% 45 052+2% 5.8% 2.56x
2020 q4 47 866+4% 121 996+3% 46 938+2% -3.8% 2.79x
2020 q3 49 893+9% 125 690+15% 45 714+7%   2.22x
2020 q2 47 803+6% 120 296+10% 45 482+4%   2.34x
2020 q1 48 374+5% 120 600+9% 44 266+4% 6.6% 2.23x
2019 q4 46 087+3% 118 396+9% 45 961+15% 7.1% 2.38x
2019 q3 45 5900% 109 636+5% 42 833+8% 7.8% 2.42x
2019 q2 45 209-1% 109 197+5% 43 828+13% 7.6% 2.62x
2019 q1 46 263+1% 110 387+5% 42 672+11% 8.1% 2.53x
2018 q4 44 863+2% 108 125+3% 39 862-1% 8.1% 2.31x
2018 q3 45 597+4% 104 7700% 39 6650% 8.0% 2.33x
2018 q2 45 526+3% 103 568-4% 38 7050% 7.3% 2.20x
2018 q1 45 971+1% 105 192-4% 38 416+8% 9.0% 2.14x
2017 q4 44 163+2% 105 079-2% 40 318-1% 8.8% 2.17x
2017 q3 43 728+1% 105 082-2% 39 725 9.2% 2.72x
2017 q2 44 008+2% 107 832+1% 38 797 8.0% 3.62x
2017 q1 45 653+6% 109 605+2% 35 654 8.8% 5.43x
2016 q4 43 254+11% 107 042+7% 40 877-3% 12.5%  
2016 q3 43 254 107 042      
2016 q2 43 254 107 042      
2016 q1 43 254 107 042      
2015 q4 38 886-7% 100 449+5% 41 990+29% 9.6%  
2015 q3          
2015 q2          
2015 q1          
2014 q4 41 7540% 96 0470% 32 6490% 9.5%  
2014 q3          
2014 q2 40 707-5% 71 608-20% 11 742-55% 22.7%  
2014 q1          
2013 q4 41 754+8% 96 047+25% 32 649+68% 7.6%  
2013 q3          
2013 q2 42 642+11% 89 571+17% 26 107+34% 2.5%  
2013 q1          
2012 q4 38 5780% 76 8170% 19 468<-100% 9.6%  
2012 q3          
2012 q2 38 578+15% 76 817+22% 19 468+21% 7.9%  
2012 q1          
2011 q4 38 578+15% 76 817+22% -20 682<-100%    
2011 q3          
2011 q2 33 654 62 972 16 133 9.2%  
2011 q1          
2010 q4 33 654+18% 62 972+20% 16 133+24% 8.5%  
2010 q3          
2010 q2          
2009 q4 28 549+9% 52 326+5% 12 967+4%    
2009 q3          
2008 q4 26 088+12% 49 986 12 433 12.5%  
2008 q3          
2007 q4 23 302        


Cashflow


Q Operating cashflow Investing cashflow Financial cashflow
 
2025 q2 7 189+39% -5 831+14% -240-86%
2025 q1   -5 584+40% -728<-100%
2024 q4 7 524-28% -9 803+27% -2 066>+200%
2024 q3 6 728+34% -4 945+23% -2 667>+200%
2024 q2 5 176+66% -5 113+35% -1 727+93%
2024 q1 7 458+33% -3 9800% 692<-100%
2023 q4 10 379+17% -7 714+57% -198-93%
2023 q3 5 004-9% -4 035+50% -653-72%
2023 q2 3 122-35% -3 798+39% -896<-100%
2023 q1 5 628+17% -3 985-1% -1 550>+200%
2022 q4 8 849+34% -4 907-9% -2 812+152%
2022 q3 5 497+4% -2 694-28% -2 354+47%
2022 q2 4 798+49% -2 725-35% 333<-100%
2022 q1 4 798-19% -4 036+15% -122<-100%
2021 q4 6 597>+200% -5 404+43% -1 114>+200%
2021 q3 5 285+14% -3 745-31% -1 601<-100%
2021 q2 3 223>+200% -4 209+82% -1 135>+200%
2021 q1 5 935+14% -3 510+56% 155<-100%
2020 q4 1 996-63% -3 785-40% -349<-100%
2020 q3 4 634+60% -5 400+150% 2 294<-100%
2020 q2 923-51% -2 319-3% -89-87%
2020 q1 5 190+187% -2 248+3% -958<-100%
2019 q4 5 379+10% -6 347+22% 1 956+128%
2019 q3 2 891+46% -2 164-22% -291<-100%
2019 q2 1 867-30% -2 384+5% -685-19%
2019 q1 1 808-63% -2 175-22% 874<-100%
2018 q4 4 900+46% -5 186+13% 857<-100%
2018 q3 1 976-50% -2 769+16% 691<-100%
2018 q2 2 664<-100% -2 263-2% -843-6%
2018 q1 4 897-40% -2 799+9% -2 701>+200%
2017 q4 3 367-42% -4 608+6% -216<-100%
2017 q3 3 940+24% -2 388-46% -2 493+163%
2017 q2 -1 165+155% -2 308-12% -895<-100%
2017 q1 8 125+33% -2 561+76% -5>+200%
2016 q4 5 853+157% -4 351+31% 993+2%
2016 q3 3 186+40% -4 386+32% -948<-100%
2016 q2 -456<-100% -2 612 499
2016 q1 6 119+172% -1 452 -1
2015 q4 2 281-61% -3 311-29% 970-49%
2015 q3 2 281-61% -3 311-29% 970-49%
2015 q2 2 248+53%    
2015 q1 2 248-3%    
2014 q4 5 839+52% -4 683+3% 1 905+32%
2014 q3 5 839+52% -4 683+3% 1 905+32%
2014 q2 1 467+45% -1 364-8% -406<-100%
2014 q1 2 311-46% -1 364-52% -406>+200%
2013 q4 3 852+3% -4 547+5% 1 440-24%
2013 q3 3 852+3% -4 547+5% 1 440-24%
2013 q2 1 011-78% -1 476-41% 431<-100%
2013 q1 4 284-6% -2 852+13% -50-91%
2012 q4 3 751 -4 342 1 884+8%
2012 q3 3 751 -4 342 1 884+8%
2012 q2 4 550+54% -2 517 -540>+200%
2012 q1 4 550+54% -2 517 -540>+200%
2011 q4     1 752+129%
2011 q3     1 752
2011 q2 2 962   -145
2011 q1 2 962   -145
2010 q4 2 104+38%   765>+200%
2010 q3 2 104    
2010 q2      
2009 q4 1 525-22%   175-52%
2009 q3     175-52%
2008 q4 1 959+39%   362-28%
2008 q3 1 959   362
2007 q4 1 408   504
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 Gross profit Operating income Net income PercentProfit PercentLoss
 
2025 q2 32 694+14% 4 337+29% 3 935+34% 1 771+33% 331-32% -1 666+14%
2025 q1 36 933+9% 6 303+7% 5 908+8% 2 914-9% 294-34% -1 739+9%
2024 q4 38 318+8% 5 789+26% 4 810+27% 1 077<-100% 501+71% -1 756+23%
2024 q3 31 418+13% 4 819+45% 4 413+52% 2 181+68% 396+160% -1 582+42%
2024 q2 28 666+4% 3 351-7% 2 930-9% 1 329-8% 487>+200% -1 465+81%
2024 q1 33 892+5% 5 871-3% 5 467-3% 3 214-12% 444>+200% -1 594+97%
2023 q4 35 507+10% 4 5780% 3 781+3% -295<-100% 293+93% -1 423+67%
2023 q3 27 791+11% 3 327-7% 2 895-9% 1 297>+200% 152-9% -1 112+21%
2023 q2 27 583+14% 3 620+33% 3 221+47% 1 444+74% 156-31% -811-34%
2023 q1 32 385+15% 6 047+30% 5 628+33% 3 669+52% 145-14% -809-29%
2022 q4 32 298+11% 4 593-6% 3 682-8% 967+38% 151+35% -851+18%
2022 q3 25 048+4% 3 587+61% 3 172+82% 319-30% 167+74% -917+36%
2022 q2 24 205+5% 2 729+25% 2 199+33% 832+2% 225+194% -1 232+121%
2022 q1 28 152+5% 4 636+27% 4 239+31% 2 420+11% 169+97% -1 145+103%
2021 q4 29 070+9% 4 873+14% 3 999+14% 701-43% 112 -723
2021 q3 24 195+7% 2 228+9% 1 738+16% 455-39% 96 -676
2021 q2 23 070+11% 2 192>+200% 1 653>+200% 819<-100% 76 -556
2021 q1 26 833+8% 3 657+15% 3 228+23% 2 172+40% 86 -563
2020 q4 26 735+3% 4 279+15% 3 501+22% 1 229<-100%    
2020 q3 22 510+2% 2 048+1% 1 493-2% 743>+200%    
2020 q2 20 802-3% 576-55% 70-91% -697+83%    
2020 q1 24 938-1% 3 192+7% 2 624+6% 1 555+35%    
2019 q4 25 869+1% 3 707+72% 2 858+105% -555<-100%    
2019 q3 22 088+2% 2 028-3% 1 532-4% 115<-100%    
2019 q2 21 445+1% 1 292-32% 779-45% -381+126%    
2019 q1 25 104-1% 2 971-22% 2 474-25% 1 149-34%    
2018 q4 25 493 2 160 1 396 376    
2018 q3 21 650 2 088 1 591 -532    
2018 q2 21 295 1 897 1 427 -169    
2018 q1 25 435 3 793 3 313 1 730    


Balance


Implied interest rate for 2025 q2:
= (PercentLoss - PercentProfit) * (365 / periodLength) / (NetDebt - MinorityInterest)
= (1 666 - 331) * 4 / (28 728 - 0)

Q Total equity Total assets Net debt
 
2025 q2 66 810+8% 159 813+7% 28 728+4%
2025 q1 67 894+7% 160 757+6% 28 091+1%
2024 q4 64 980+7% 158 218+6% 30 522-2%
2024 q3 63 902+5% 152 026+6% 27 731-17%
2024 q2 61 721+3% 150 048+8% 27 729-17%
2024 q1 63 175+7% 151 123+7% 27 927-14%
2023 q4 60 827+10% 148 632+6% 31 253-3%
2023 q3 61 122+10% 142 999+6% 33 300-7%
2023 q2 59 825+8% 139 485+4% 33 455-7%
2023 q1 58 854+5% 141 838+6% 32 530-14%
2022 q4 55 185+3% 140 848+6% 32 320-17%
2022 q3 55 647+4% 135 513+2% 35 819-8%
2022 q2 55 328+3% 134 632+1% 36 115-7%
2022 q1 55 916+5% 133 419+1% 37 899-2%
2021 q4 53 496 132 753 38 827-12%
2021 q3 53 496 132 753 38 827-12%
2021 q2 53 496 132 753 38 827-12%
2021 q1 53 496 132 753 38 827-12%
2020 q4     44 262+5%
2020 q3     44 262+5%
2020 q2     44 262+5%
2020 q1     44 262+5%
2019 q4     42 160+6%
2019 q3     42 160+6%
2019 q2     42 160+6%
2019 q1     42 160+6%
2018 q4     39 621
2018 q3     39 621
2018 q2     39 621
2018 q1     39 621
More information for subscribed users:
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Potential and Created Value,
commodities affecting the company