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General information

  • Current market environment: negative. Prices of production are 1.5% lower compared to the last 12 months (LTM)
  • Prices of production are at 16.5% percentile over the past 5 years, adjusted for inflation
  • Dividend yield for the last twelve months 0.0%
  • Free cash flow yield -9.3% (LTM), projected -11.9%
  • Share of USD-denominated sales in revenue of the company (estimate) 86.9%
  • Share price is 4.4% higher than minimum and 54.3% lower than maximum for the last 3 years
  • Taking into account the impact of the key rate 17.0% on the change in financial parameters: EBITDA adjustment is -83 mln rub as NetDebt * (current key rate - normalized 7%) / 2, expected EBITDA adjusted for key rate increases is -9 183 mln rub, expected mult is -15.0x, target mult is 3.9x, potential is -127.5%

Key Financials (Download financials)

Ticker: RASP
Share price, RUB:  (-1.1%)205
year average price 251.10  


year start price 276.90 2024-09-19

max close price 313.45 2025-01-24

min close price 205.95 2025-09-16

current price 204.80 2025-09-18
Common stocks: 665 730 000
Dividend Yield:  0.0%
FCF Yield LTM / expected: -9.3% / -11.9%
EV / LTM EBITDA:-28.2x
Production prices change from LTM: -1.5%
EV / projected EBITDA:
Target EV / EBITDA (hist percentile):
Express share price potential:
EV / LTM EBITDA mutiple calculation
Market Cap (m RUB): 136 475
Net Debt (m RUB): -4 913
EV (Enterprise Value): 131 562
EBITDA LTM (m RUB): -4 671
Net Income LTM (m RUB): -20 132
EV / LTM EBITDA: -28.2x
Average daily trading volume for the week, RUB mln: 41
P / B 0.8x
EBITDA margin ann-d -17.2%
Net income margin ann-d -27.4%

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

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 H1 ( 12390 , 12391 ) 60 501-33% 11 964-72% -21 530+199% -16 552+101% 1 418-2% -1 123+34%
2024 H2 ( 9338 , 9350 ) 70 051-24% 27 961-41% -2 701<-100% -3 580<-100% 2 409+50% -1 023+66%
2024 H1 ( 8899 , 8918 ) 90 554-4% 43 370-19% -7 196<-100% -8 218<-100% 1 443+82% -841+52%
2023 H2 ( 7712 , 7723 ) 91 761+31% 47 652+46% 14 890+64% 11 502+69% 1 609+96% -615+12%
2023 H1 ( 3234 , 3238 ) 94 062-25% 53 822-40% 26 457-60% 23 108-56% 793+85% -552-42%
2022 H2 ( 3127 , 3128 , 3129 ) 69 893-32% 32 617-55% 9 064-86% 6 793-87% 820>+200% -547-42%
2022 H1 ( 3039 , 3043 ) 124 784+146% 89 676>+200% 66 143>+200% 52 060>+200% 429>+200% -958-35%
2021 H2 ( 2921 , 2922 ) 102 066>+200% 72 919>+200% 65 254>+200% 51 945>+200% 61-79% -947>+200%
2021 H1 ( 1941 , 1942 ) 50 727+132% 21 392+169% 16 638+82% 11 976+65% 85-76% -1 464>+200%
2020 H2 ( 1943 , 1944 ) 21 456-20% 5 388-52% 6 587<-100% 5 490<-100% 286-62% -112+77%
2020 H1 ( 1945 , 1946 ) 21 900-41% 7 951-61% 9 137-45% 7 253-47% 349-59% -209>+200%
2019 H2 ( 1947 , 1948 ) 26 798-32% 11 318-48% -951<-100% -396<-100% 758+18% -63-21%
2019 H1 ( 1949 , 1950 ) 37 079+15% 20 396+12% 16 552-3% 13 750+3% 847>+200% -65-45%
2018 H2 ( 1951 , 1952 ) 39 511+55% 21 927+69% 19 943+70% 16 234+81% 641>+200% -80-83%
2018 H1 ( 1953 , 1954 ) 32 248+27% 18 206+30% 17 017+31% 13 387+38% 20-65% -118-86%
2017 H2 ( 1955 , 1956 ) 25 485+29% 12 972+35% 11 728-4% 8 986+3% 1-85% -481-59%
2017 H1 ( 1957 , 1958 ) 25 439+88% 13 965>+200% 13 038+129% 9 735+183% 58>+200% -869-35%
2016 H2 ( 1959 , 1960 ) 19 785+42% 9 579+154% 12 202<-100% 8 713<-100% 5-87% -1 171-18%
2016 H1 ( 1961 , 1962 ) 13 544+6% 4 211+6% 5 684>+200% 3 439<-100% 6-49% -1 333+21%
2015 H2 ( 1963 , 1964 ) 13 930+67% 3 771+70% -8 213-35% -7 684-30% 39+140% -1 424+68%
2015 H1 ( 1965 , 1966 ) 12 769+51% 3 987<-100% 520<-100% -462-80% 12-20% -1 098+60%
2014 H2 ( 1967 , 1968 ) 8 352+4% 2 214>+200% -12 710>+200% -10 925>+200% 16-69% -849+19%
2014 H1 ( 1969 , 1970 ) 8 441-10% -48<-100% -2 248+19% -2 358+12% 15-83% -687-5%
2013 H2 ( 1971 , 1972 ) 8 029-2% 596-19% -1 618<-100% -1 916>+200% 53-56% -715-4%
2013 H1 9 336+10% 1 758-22% -1 893>+200% -2 101>+200% 85-44% -721+16%
2012 H2 ( 1974 , 1975 , 1976 ) 8 232-24% 737-86% 265-86% -406<-100% 122-55% -742+66%
2012 H1 8 524-19% 2 257-60% -133<-100% -570<-100% 152-37% -623+55%
2011 H2 10 832+59% 5 390+44% 1 907+167% 1 265>+200% 269+4% -447+16%
2011 H1 10 549-26% 5 702-37% 3 787-25% 2 834-60% 240-4% -403-6%
2010 H2 6 793-37% 3 735-38% 714-85% 336-91% 258+26% -386-3%
2010 H1 14 340>+200% 9 056>+200% 5 080>+200% 7 136>+200% 251+38% -430+9%
2009 H2 10 767-42% 6 042-55% 4 814-55% 3 662-56% 205+2% -398-7%
2009 H1 4 405 1 956 300 11 182 -396
2008 H2 18 713 13 323 10 740 8 328 201 -427
2008 H1            


Balance


Implied interest rate for 2021 H2:
= (PercentLoss - PercentProfit) * (365 / periodLength) / (NetDebt - MinorityInterest)
= (947 - 61) * 2 / (2 319 - 769)

Q Total equity Total assets Net debt Implied interest rate NetDebt / LTM EBITDA
 
2025 H1 ( 12390 , 12391 ) 174 126-10% 235 068-7% -4 913-75%    
2024 H2 ( 9338 , 9350 ) 190 965-6% 251 157-3% -4 653-83%   -0.44x
2024 H1 ( 8899 , 8918 ) 194 137+2% 251 489+4% -19 379-26%   -0.74x
2023 H2 ( 7712 , 7723 ) 202 418+15% 260 158+13% -26 902+8%   -0.46x
2023 H1 ( 3234 , 3238 ) 190 718+20% 242 792+9% -26 150>+200%   -0.51x
2022 H2 ( 3127 , 3128 , 3129 ) 175 451+63% 229 658+8% -24 854<-100%   -0.28x
2022 H1 ( 3039 , 3043 ) 159 265<-100% 223 340+30% -5 094<-100%   -0.04x
2021 H2 ( 2921 , 2922 ) 107 618+36% 211 807+5% 2 319<-100% 114.3% 0.02x
2021 H1 ( 1941 , 1942 ) -55 219<-100% 172 085+37% 12 539<-100%   0.44x
2020 H2 ( 1943 , 1944 ) 79 248+5% 201 884+99% -42 207+20%   -3.04x
2020 H1 ( 1945 , 1946 ) 81 782+6% 125 769+6% -43 662>+200%   -4.26x
2019 H2 ( 1947 , 1948 ) 75 122+13% 101 238-7% -35 117>+200%   -2.13x
2019 H1 ( 1949 , 1950 ) 77 216+50% 118 638+11% -12 332+30%   -1.18x
2018 H2 ( 1951 , 1952 ) 66 466+74% 108 985+41% -4 468<-100%   -1.21x
2018 H1 ( 1953 , 1954 ) 51 409+76% 106 897+51% -9 478<-100%   -1.43x
2017 H2 ( 1955 , 1956 ) 38 093+92% 77 246-9% 24 402-1% 4.0% -1.66x
2017 H1 ( 1957 , 1958 ) 29 288-54% 70 657+11% 10 018-65% 16.5% -1.70x
2016 H2 ( 1959 , 1960 ) 19 791+166% 84 617+31% 24 632-24% 9.5% -2.90x
2016 H1 ( 1961 , 1962 ) 63 670>+200% 63 670+13% 28 540+9% 9.4% -13.41x
2015 H2 ( 1963 , 1964 ) 7 446-53% 64 687+19% 32 283+20% 8.6% -21.00x
2015 H1 ( 1965 , 1966 ) 15 427-42% 56 539+4% 26 203+57% 8.3% -23.80x
2014 H2 ( 1967 , 1968 ) 15 953-45% 54 1760% 26 796+63% 6.3%  
2014 H1 ( 1969 , 1970 ) 26 631-54% 54 154-7% 16 679+11% 8.1%  
2013 H2 ( 1971 , 1972 ) 29 001-13% 54 295-8% 16 483+23% 8.1% -61.44x
2013 H1 58 328-1% 58 328-2% 14 976+13% 8.6% -56.09x
2012 H2 ( 1974 , 1975 , 1976 ) 33 305-48% 59 038-7% 13 386 9.4%  
2012 H1 58 677-10% 59 600-9% 13 304<-100% 7.2%  
2011 H2 63 6880% 63 6880%      
2011 H1 65 207+100% 65 207+100% -2 883<-100%    
2010 H2 63 425+100% 63 425+100% -213<-100%    
2010 H1 00% 00% 00%    
2009 H2 0 0 0    
2009 H1 0 0 0    
2008 H2          
2008 H1          


Cashflow


Q Operating cashflow Investing cashflow Financial cashflow
 
2025 H1 ( 12390 , 12391 ) -16 552+101% -6 978<-100% -1 133-3%
2024 H2 ( 9338 , 9350 ) -10 089<-100% -10 327-72% -1 492+84%
2024 H1 ( 8899 , 8918 ) -8 218<-100% 11 561<-100% -1 165+133%
2023 H2 ( 7712 , 7723 ) 10 836-55% -36 308>+200% -809-86%
2023 H1 ( 3234 , 3238 ) 13 469-67% -13 279-13% -501-99%
2022 H2 ( 3127 , 3128 , 3129 ) 24 047-40% -4 304-21% -5 879-72%
2022 H1 ( 3039 , 3043 ) 41 317+76% -15 176-80% -37 286<-100%
2021 H2 ( 2921 , 2922 ) 39 990>+200% -5 443-13% -21 333>+200%
2021 H1 ( 1941 , 1942 ) 23 493+185% -76 595>+200% 26 885<-100%
2020 H2 ( 1943 , 1944 ) 5 033-12% -6 232<-100% -3 289+95%
2020 H1 ( 1945 , 1946 ) 8 230-53% -3 417-47% -139-95%
2019 H2 ( 1947 , 1948 ) 5 711-59% 20 190<-100% -1 689>+200%
2019 H1 ( 1949 , 1950 ) 17 529+77% -6 451>+200% -2 998+36%
2018 H2 ( 1951 , 1952 ) 13 793+11% -18 216>+200% -245-98%
2018 H1 ( 1953 , 1954 ) 9 877-15% -1 478<-100% -2 201-84%
2017 H2 ( 1955 , 1956 ) 12 414+32% -1 377-76% -10 852>+200%
2017 H1 ( 1957 , 1958 ) 11 647>+200% 2 407<-100% -13 386>+200%
2016 H2 ( 1959 , 1960 ) 9 436+103% -5 846>+200% -3 333>+200%
2016 H1 ( 1961 , 1962 ) 1 471-29% -772-30% -2 456+33%
2015 H2 ( 1963 , 1964 ) 4 644+57% -971-17% -1 051+42%
2015 H1 ( 1965 , 1966 ) 2 080+2% -1 098-2% -1 849+127%
2014 H2 ( 1967 , 1968 ) 2 965>+200% -1 174-9% -739-66%
2014 H1 ( 1969 , 1970 ) 2 036+87% -1 120<-100% -815+24%
2013 H2 ( 1971 , 1972 ) 612-51% -1 286-54% -2 184>+200%
2013 H1 1 087-51% 2 409<-100% -657-88%
2012 H2 ( 1974 , 1975 , 1976 ) 1 257-49% -2 789>+200% -657-72%
2012 H1 2 239-51% -784 -5 507
2011 H2 2 461+12% -667 -2 381
2011 H1 4 567-37%    
2010 H2 2 203-55%    
2010 H1 7 277>+200%    
2009 H2 4 927-32%    
2009 H1 1 993-82% -1 611-73% -510-88%
2008 H2 7 297    
2008 H1 11 007 -6 012 -4 234
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 3 184-30% -938<-100% -1 241<-100% -1 002<-100% 3+81% -29-20%
2025 q1 5 037-28% 964-75% 655-82% 394-81% 2+158% -33-17%
2024 q4 -13 527-35%          
2024 q3 1 984-48% -1 136<-100% -1 444<-100% -1 300<-100% 2+85% -42+157%
2024 q2 4 520-45% 1 512-70% 1 194-75% 808-64% 2+108% -36+66%
2024 q1 7 023-19% 3 902-23% 3 610-25% 2 123-43% 1-70% -40+78%
2023 q4 -20 747<-100% 6 831>+200% 6 546>+200% 6 159>+200% 1-72% -39+104%
2023 q3 3 848+39% 1 023+196% 727>+200% 439<-100% 1-78% -16-53%
2023 q2 8 226-5% 4 982-17% 4 724-18% 2 219-81% 1-95% -22-91%
2023 q1 8 673-27% 5 062-46% 4 819-48% 3 751-78% 2-95% -22-92%
2022 q4 4 673+100% 2 085<-100% 1 863<-100% 1 248-93% 3<-100% -19
2022 q3 2 770<-100% 345<-100% 126<-100% -664<-100% 4<-100% -35
2022 q2 8 617>+200% 5 982>+200% 5 741>+200% 11 662+85% 18+160% -240-28%
2022 q1 11 956>+200% 9 424>+200% 9 212>+200% 17 241-13% 47>+200% -286-60%
2021 q4 0<-100% -2 262<-100% -72 517 571 183<-100% 19 084>+200% 10 859  
2021 q3 -5 670<-100% -7 606>+200% -5 603 643 331>+200% 16 871<-100% 41 315  
2021 q2 2 211-21% 218-78% 33-97% 6 307>+200% 7 -333
2021 q1 3 460-1% 1 458-18% 1 281 19 834>+200% 1 -710
2020 q4 3 123 1 064 897 694    
2020 q3 1 375 -433 -609 -552    
2020 q2 2 795-48% 996<-100% 1 219 605-75%    
2020 q1 3 481-64% 1 771<-100%   727-87%    
2019 q4            
2019 q3            
2019 q2 5 418+95% 21 977 398 144>+200%   2 430>+200%    
2019 q1 9 616+38% -21 977 387 418<-100%   5 747+40%    
2018 q4 19 539 7 419 7 166 5 112    
2018 q3 3 843 2 013 1 877 1 432    
2018 q2 2 783 1 223 1 080 698    
2018 q1 6 956 5 265 5 138 4 096    


Balance


Implied interest rate for 2025 q2:
= (PercentLoss - PercentProfit) * (365 / periodLength) / (NetDebt - MinorityInterest)
= (29 - 3) * 4 / (305 - 0)

Q Total equity Total assets Net debt
 
2025 q2 111 018-2% 119 502-2% 305-74%
2025 q1 112 020-1% 119 8090% 384-69%
2024 q4   118 818-1% 919-23%
2024 q3 112 562+7% 120 303+7% 694-34%
2024 q2 113 853+9% 122 178+7% 1 155-54%
2024 q1 113 043+11% 120 148+8% 1 230-5%
2023 q4 110 920+13% 120 409+15% 1 192-24%
2023 q3 104 760+9% 112 695+13% 1 051+95%
2023 q2 104 321>+200% 113 799<-100% 2 536-63%
2023 q1 102 100+20% 110 785-12% 1 289-95%
2022 q4 98 349+43% 104 870-17% 1 572-95%
2022 q3 96 187+42% 99 985-20% 539-98%
2022 q2 0<-100% -13 530<-100% 6 878-78%
2022 q1 85 188+25% 126 520+1% 27 037-14%
2021 q4 68 861 126 012 31 318<-100%
2021 q3 67 947 124 870 31 318<-100%
2021 q2 67 947 124 870 31 318<-100%
2021 q1 67 947 124 870 31 318<-100%
2020 q4     -70
2020 q3     -70-2%
2020 q2     -66-8%
2020 q1     -65-10%
2019 q4      
2019 q3     -72>+200%
2019 q2     -72>+200%
2019 q1     -72>+200%
2018 q4     -4
2018 q3     -4
2018 q2     -4
2018 q1     -4
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