Enhanced Investments - Financial Portal

General information

Leading agribusiness company with strong corporate governance. Engaged in sugar, oils and fats, pork, dairy, and crops businesses

Current market environment: positive. Prices of production are 1.7% higher compared to the last 12 months (LTM)
Prices of production are at 67.6% percentile over the past 5 years, adjusted for inflation
Dividend yield for the last twelve months 0.0%
Free cash flow yield -89.9% (LTM), projected -106.0%
Share of USD-denominated sales in revenue of the company (estimate) 17.1%
Share price is 34.0% higher than minimum and 48.0% lower than maximum for the last 3 years
The company is overvalued by EV / LTM EBITDA multiple compared to target level (5.0x 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 -9 893 mln rub as NetDebt * (current key rate - normalized 7%) / 2, expected EBITDA adjusted for key rate increases is 23 819 mln rub, expected mult is 13.3x, target mult is 4.5x, potential is -176.1%

Key Financials (Download financials)

Ticker: RAGR

Share price, RUB: (+1.0%)124.72

year average price 149.18

year start price 164.96 2024-09-18

max close price 239.96 2025-02-26

min close price 97.74 2025-07-11

current price 122.92 2025-09-17

Common stocks: 958 772 851

Dividend Yield: 0.0%

FCF Yield LTM / expected: -89.9% / -106.0%

EV / LTM EBITDA:5.0x

EV / EBITDA annualized: 6.9x

Production prices change from LTM: 1.7%

EV / projected EBITDA:

Target EV / EBITDA (hist percentile):

Express share price potential:

EV / LTM EBITDA mutiple calculation

Market Cap (m RUB): 119 578

Net Debt (m RUB): 168 192

EV (Enterprise Value): 287 770

EBITDA LTM (m RUB): 57 827

Net Income LTM (m RUB): 26 289

EV / LTM EBITDA: 5.0x

Net Debt / LTM EBITDA (if EBITDA > 0): 2.9x

Average daily trading volume for the week, RUB mln: 233

P / E 4.5x

P / E ann-d11.6x

P / B 0.5x

EBITDA margin ann-d 12.4%

Net income margin ann-d 3.1%

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

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Income

Q	Revenue	Gross profit	Operating income	Net income	PercentProfit	PercentLoss


2025 q2	83 887+21%	18 777+29%	5 864+82%	2 581+20%	2 656+25%	-4 773+176%
2025 q1	83 887+103%	18 777+102%	5 864>+200%	2 581<-100%	2 656+129%	-4 773+186%
2024 q4	125 023+28%	22 835+20%	12 668-3%	10 563-12%	2 838+43%	-2 626+56%
2024 q3	125 023+79%	22 835+20%	12 668-3%	10 563-12%	2 838+43%	-2 626+56%
2024 q2	69 424+20%	14 542+51%	3 223-19%	2 159-49%	2 133-14%	-1 729-7%
2024 q1	41 248	9 278	886	-113	1 162	-1 666
2023 q4	97 853+78%	19 064+98%	13 070>+200%	11 994>+200%	1 987-4%	-1 682-15%
2023 q3	69 891+27%	19 064+98%	13 070>+200%	11 994>+200%	1 987-4%	-1 682-15%
2023 q2	57 957	9 624	3 967	4 233	2 474	-1 852
2022 q4	54 929-10%	9 627-21%	3 397-61%	324-96%	2 078+37%	-1 968+42%
2022 q3	54 929-10%	9 627-21%	3 397-61%	324-96%	2 078+37%	-1 968+42%
2021 q4	61 071+29%	12 174+29%	8 659+85%	8 151+97%	1 522+19%	-1 387+12%
2021 q3	61 071	12 174	8 659	8 151	1 522	-1 387
2020 q4	47 327	9 432	4 674	4 141	1 283	-1 240

Balance

Implied interest rate for 2025 q2:
= (PercentLoss - PercentProfit) * (365 / periodLength) / (NetDebt - MinorityInterest)
= (4 773 - 2 656) * 4 / (168 192 - 18 512)

Q	Total equity	Total assets	Net debt	Implied interest rate	NetDebt / LTM EBITDA


2025 q2	232 293+54%	497 141+47%	168 192+38%	5.7%	2.91x
2025 q1					1.84x
2024 q4	227 130+50%	488 245+49%	154 145+36%	-0.6%	1.76x
2024 q3					0.98x
2024 q2	151 081<-100%	338 420+3%	121 818	-1.3%	1.11x
2024 q1					1.10x
2023 q4	151 271+36%	328 138-22%	112 966-19%	-1.1%	1.17x
2023 q3					1.62x
2023 q2	-32	328 138			2.63x
2022 q4	111 056+2%	420 782+29%	139 172+12%	-0.3%	2.23x
2022 q3					1.99x
2021 q4	109 407>+200%	326 368+34%	124 635	-0.4%	1.53x
2021 q3					1.63x
2020 q4	0	244 285			2.12x

Cashflow

Q	Operating cashflow	Investing cashflow	Financial cashflow


2025 q2	2 260-69%	-6 950+24%	10 219-56%
2025 q1	2 260+40%	-6 950+33%	10 219-63%
2024 q4	4 710-51%	-7 757+53%	-803<-100%
2024 q3	4 710-51%	-7 757+53%	-803<-100%
2024 q2	7 260+20%	-5 589+121%	23 428-41%
2024 q1	1 616	-5 235	27 269
2023 q4	9 651>+200%	-5 065+73%	21 134-44%
2023 q3	9 651>+200%	-5 065-73%	21 134+59%
2023 q2	6 037	-2 529	39 595
2022 q4	854-58%	-2 930-44%	37 967>+200%
2022 q3	854-58%	-18 559+76%	13 298-51%
2021 q4	2 055-47%	-5 187+65%	11 852-43%
2021 q3	2 055	-10 546	27 015
2020 q4	3 887	-3 140	20 883

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	00%	-5>+200%	122+98%	168>+200%	0-12%
2025 q1	00%	-19>+200%	120-95%	183>+200%	0-8%
2024 q4
2024 q3	00%	-7>+200%	-6<-100%	0-99%	0-11%
2024 q2	00%	-1-70%	61-45%	1<-100%	0<-100%
2024 q1	00%	-5>+200%	2 336>+200%	41-97%	0<-100%
2023 q4	00%	-3>+200%	33-91%	44-97%	0<-100%
2023 q3	00%	0-95%	25-90%	32-97%	0<-100%
2023 q2	00%	-4+21%	112-15%	487-32%	-343-37%
2023 q1	00%	-1>+200%	275-19%	1 405>+200%	-1 060>+200%
2022 q4 ( 3336 , 3337 , 9327 )	00%	0+67%	365-59%	1 767>+200%	-1 310
2022 q3	0	-9	241	1 147	-837
2022 q2	0	-4	132	712	-543
2022 q1	0	0	341	5	-1
2021 q4 ( 3338 , 9282 , 9326 )	00%	0+4%	888-70%	1+24%
2020 q4	0	0	3 000	0
2018 q4	00%	0-53%	0+112%	1-18%
2017 q4	0	-1	0	1

Balance

Implied interest rate for 2024 q3:
= (PercentLoss - PercentProfit) * (365 / periodLength) / (NetDebt - MinorityInterest)
= (0 - 0) * 4 / (3 - 0)

Q	Total equity	Total assets	Net debt


2025 q2	6 598+4%	6 645+4%	-4 069>+200%
2025 q1	6 476+3%	6 522+3%	-3 973>+200%
2024 q4			-3 945+157%
2024 q3	6 353+62%	6 359-19%	3<-100%
2024 q2	6 359+63%	6 380-18%	-22-99%
2024 q1	6 297+66%	6 311-92%	-31-95%
2023 q4	3 961+13%	7 861-91%	-1 534<-100%
2023 q3	3 928+12%	7 826-91%	-1 512<-100%
2023 q2	3 903+11%	7 823-91%	-1 529<-100%
2023 q1	3 791+8%	76 668-11%	-603<-100%
2022 q4 ( 3336 , 3337 , 9327 )	3 516-34%	86 194>+200%	179<-100%
2022 q3	3 516	86 194	180
2022 q2	3 516	86 194	180
2022 q1	3 516	86 194	180
2021 q4 ( 3338 , 9282 , 9326 )	5 337+119%	5 339+119%	-52+2%
2020 q4	2 436	2 438	-51
2018 q4	2 434	2 435	-48+2%
2017 q4			-47

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

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

Important disclosures

Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.

Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities.
Past performance is no guarantee of future results. Any historical returns, expected returns [or probability projections] are hypothetical in nature and may not reflect actual future performance.
All the strategies assume investments in equity invstrumenta only and are more relevant for "agressive investment profile". Eastern European flagship strategy assumes using up to 20% leverage of total portfolio. GlobalCommodities and US Growth strategy currently assume no leverage.
Results for the Enhanced Investments strategies as compared to the performance of Illustrative Benchmarks is for informational purposes only. Our investment program does not mirror that of the Illustrative Benchmarks and the volatility may be materially different from the volatility of Illustrative Benchmarks. Reference or comparison to an Illustrative Benchmark does not imply that strategies of Enhanced Investments will be constructed in the same way as the Illustrative Benchmark or achieve returns, volatility, or other results similar to those of the Illustrative Benchmark. The S&P 500 is an unmanaged market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance.
Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.