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General information

  • Dividend yield for the last twelve months 13.4%
  • Free cash flow yield 3.7% (LTM), projected -73.1%
  • Share of USD-denominated sales in revenue of the company (estimate) ≈ 100.0%
  • Share price is 35.6% higher than minimum and 63.0% lower than maximum for the last 3 years
  • The company is undervalued by EV / LTM EBITDA multiple compared to target level (1.7x vs
    )
  • The company is overvalued by EV / projected EBITDA multiple compared to target level (
    vs
    )
  • Taking into account the impact of the key rate 14.0% on the change in financial parameters: EBITDA adjustment is 0 mln rub as NetDebt * (expected key rate - 3 years average 14.6%) / 2, expected EBITDA adjusted for key rate increases is 28 210 mln rub, expected mult is 3.6x, target mult is 2.3x, potential is -126.8%

Key Financials (Download financials)

Ticker: RNFT
Share price, RUB:  (-2.0%)99.95
year average price 122.54  


year start price 102.20 2024-12-09

min close price 82.30 2024-12-17

max close price 165.80 2025-03-21

current price 100.00 2025-12-08
Common stocks: 294 120 000
Dividend Yield:  13.4%
FCF Yield LTM / expected: 3.7% / -73.1%
EV / LTM EBITDA:1.7x
EV / EBITDA annualized: 1.9x
EV / projected EBITDA:
Target EV / EBITDA (hist percentile):
Express share price potential:
EV / LTM EBITDA mutiple calculation
Market Cap (m RUB): 29 397
Net Debt (m RUB): 64 454
EV (Enterprise Value): 93 851
EBITDA LTM (m RUB): 56 402
Net Income LTM (m RUB): 27 037
EV / LTM EBITDA: 1.7x
Net Debt / LTM EBITDA (if EBITDA > 0): 1.1x
Average daily trading volume for the week, RUB mln: 212
P / E 1.1x
P / E ann-d1.2x
P / B 0.2x
EBITDA margin ann-d 20.2%
Net income margin ann-d 9.9%

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

Фьючерсы
Название Инструмент Дата экспирации Последняя цена За день Дневной объем млн руб Цена акции Контанго / бэквордация Annualized
Фьючерсный контракт RNFT-12.25 RUZ5 2025-12-19 1001.00 -1.7% 4.3 100 +0.1% +3.4%
Фьючерсный контракт RNFT-3.26 RUH6 2026-03-20 1050.00 -1.5% 0.4 100 +5.0% +19.1%
Фьючерсный контракт RNFT-6.26 RUM6 2026-06-19 0.00 0.0% 0.0 100 -100.0% -100.0%
MSFO data *The values are shown in mln. 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 H1 119 608-19% 35 112-26% 21 492-46% 11 808-68% 4 125-63% -7 416+9%
2024 H2 152 851+4% 44 059-3% 29 801+18% 15 229+42% 5 346+16% -8 328-10%
2024 H1 147 257+60% 47 180+121% 39 503<-100% 37 444<-100% 11 161>+200% -6 773+13%
2023 H2 146 778+33% 45 217+148% 25 225<-100% 10 760<-100% 4 623+84% -9 242+116%
2023 H1 91 947-49% 21 303-46% -786<-100% -4 913<-100% 3 136+25% -6 018+25%
2022 H2 110 395-24% 18 246-58% -3 744<-100% -10 499<-100% 2 512+9% -4 278-18%
2022 H1 180 467+46% 39 427+19% 37 755+70% 30 636+137% 2 506+20% -4 820-5%
2021 H2 145 491+99% 43 495+123% 35 749>+200% 19 877<-100% 2 302+69% -5 207+2%
2021 H1 123 880+106% 33 227>+200% 22 242<-100% 12 904<-100% 2 081-23% -5 067+19%
2020 H2 73 062-16% 19 495-25% 2<-100% -7 693<-100% 1 360-23% -5 097+16%
2020 H1 60 134-40% 7 197-73% -19 863<-100% -13 607<-100% 2 720+71% -4 250-12%
2019 H2 86 680-3% 26 118-5% 17 603-24% 11 295-12% 1 776+7% -4 407-11%
2019 H1 100 447+14% 26 319+2% 17 020>+200% 10 559>+200% 1 590+3% -4 847+19%
2018 H2 89 437+25% 27 498+37% 23 012>+200% 12 875+192% 1 657-21% -4 928+186%
2018 H1 88 365+53% 25 867+84% 5 639-9% 1 898-34% 1 542-20% -4 057+2%
2017 H2 71 503+30% 20 124+28% 6 419-13% 4 413-11% 2 088-20% -1 723-57%
2017 H1 57 690+15% 14 085-6% 6 189-16% 2 892-66% 1 936-16% -3 976-48%
2016 H2 55 048+19% 15 664+99% 7 361>+200% 4 967<-100% 2 623-74% -4 017-66%
2016 H1 49 955-14% 14 911-16% 7 351-12% 8 470+176% 2 297-79% -7 685-29%
2015 H2 46 387-24% 7 854-56% 1 374-87% -29 027<-100% 10 065+59% -11 791+80%
2015 H1 58 403 17 699 8 330 3 067 11 036 -10 770
2014 H2 60 886-12% 17 735-12% 10 591+12% 12 503+131% 6 325+124% -6 556+10%
2013 H2 69 382+4% 20 101-20% 9 455-23% 5 405+117% 2 825>+200% -5 944-21%
2012 H2 66 595 25 111 12 264 2 487 31 -7 541


Balance


Implied interest rate for 2025 H1:
= (PercentLoss - PercentProfit) * (365 / periodLength) / (NetDebt - MinorityInterest)
= (7 416 - 4 125) * 2 / (64 454 - 1 102)

Q Total equity Total assets Net debt Implied interest rate NetDebt / LTM EBITDA
 
2025 H1 132 455+5% 329 863-2% 64 454-30% 10.4% 1.14x
2024 H2 140 965+48% 352 063+10% 108 667+2% 5.0% 1.46x
2024 H1 125 551+50% 336 852+8% 92 670-28% -8.8% 0.85x
2023 H2 95 045+1% 320 728+14% 106 961 8.9% 1.88x
2023 H1 83 732-11% 311 065+10% 129 307 4.7% 8.66x
2022 H2 93 667+21% 282 418-2%     1.80x
2022 H1 93 667+62% 282 418-8%     1.07x
2021 H2 77 376+58% 286 968+4% 92 483-9% 7.3% 1.32x
2021 H1 57 914-2% 306 605+9% 76 712-53% 9.2% 2.60x
2020 H2 49 003-36% 275 295-2% 101 779+30% 8.4%  
2020 H1 59 160-31% 282 306+3% 161 671+64% 2.1% 8.15x
2019 H2 76 569-2% 280 265+11% 78 358-29% 8.2% 1.87x
2019 H1 86 268+31% 272 903+9% 98 416-2% 7.9% 1.92x
2018 H2 77 928+17% 253 048+12% 110 371+23% 7.1% 2.73x
2018 H1 65 707+6% 249 897+14% 100 281+8% 6.0% 4.08x
2017 H2 66 826+8% 225 043+5% 89 741-6% -1.0% 3.86x
2017 H1 62 279+34% 219 438+4% 92 770-22% 5.3% 3.96x
2016 H2 61 707<-100% 214 4550% 95 336-46% 3.5% 3.93x
2016 H1 46 482<-100% 211 808-1% 119 115 10.8% 7.20x
2015 H2 -20 952-79% 213 862+7% 175 314 2.0% 8.64x
2015 H1 -22 632 213 862     11.14x
2014 H2 -101 799+117% 199 071+61%     12.96x
2013 H2 -46 830 123 544 117 633 6.5%  
2012 H2          


Cashflow


Q Operating cashflow Investing cashflow Financial cashflow
 
2025 H1      
2024 H2      
2024 H1      
2023 H2      
2023 H1      
2022 H2      
2022 H1      
2021 H2      
2021 H1      
2020 H2      
2020 H1      
2019 H2      
2019 H1 20 711-2% -13 096-7% -8 653+119%
2018 H2 17 730-17% -10 852-35% -9 390+118%
2018 H1 21 052+85% -14 022+49% -3 955+29%
2017 H2 21 316+21% -16 786+33% -4 311-7%
2017 H1 11 365+17% -9 428+75% -3 062+59%
2016 H2 17 578+18% -12 619<-100% -4 636-95%
2016 H1 9 743-17% -5 390-87% -1 929<-100%
2015 H2 14 927-20% 83 840<-100% -97 881>+200%
2015 H1 11 768 -42 840 29 689
2014 H2 18 597+24% -13 764<-100% -4 656
2013 H2 15 055-31% 21 995<-100%  
2012 H2 21 836 -6 439  
RSBU data *The values are shown in mln. 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 q3 55 082-27% 14 079-22% 8 457-34% 7 573-45% 3 003+15% -3 669+41%
2025 q2 56 088-26% 13 227-32% 7 063-50% 1 896-68% 1 929-26% -2 371-7%
2025 q1 65 247-9% 16 9050% 11 388-3% -4 343<-100% 2 071-18% -2 368-10%
2024 q4 78 484+12% 18 623+7% 12 125+2% 10 064<-100% 2 590+1% -2 576-7%
2024 q3 75 865-1% 18 100-30% 12 738-39% 13 883-34% 2 615+11% -2 596-18%
2024 q2 76 028+47% 19 544+55% 13 992+88% 6 015-39% 2 598+35% -2 545-13%
2024 q1 71 460+77% 16 862>+200% 11 723>+200% 12 290>+200% 2 540+49% -2 620+17%
2023 q4 69 859+37% 17 433>+200% 11 876>+200% -2 253+22% 2 554+68% -2 758+35%
2023 q3 76 877+28% 25 852>+200% 20 931>+200% 21 119>+200% 2 357+87% -3 169+90%
2023 q2 51 697-31% 12 592+67% 7 453>+200% 9 926<-100% 1 929+64% -2 922+120%
2023 q1 40 401-54% 4 509-83% 194-99% 2 993-83% 1 700+16% -2 240+44%
2022 q4 50 829 5 545 77 -1 842 1 523 -2 046
2022 q3 59 989 7 556 3 372 3 747 1 259 -1 668
2022 q2 75 221+33% 7 544-53% 2 444-79% -11 450<-100% 1 177+6% -1 328-18%
2022 q1 88 730+86% 26 264+101% 21 813+132% 17 952+188% 1 469+34% -1 555-13%
2021 q4            
2021 q2 56 370 16 113 11 368 7 339 1 109 -1 620
2021 q1 47 746 13 035 9 400 6 236 1 099 -1 788


Balance


Implied interest rate for 2025 q1:
= (PercentLoss - PercentProfit) * (365 / periodLength) / (NetDebt - MinorityInterest)
= (2 368 - 2 071) * 4 / (67 610 - 0)

Q Total equity Total assets Net debt
 
2025 q3 153 615+5% 439 717+13% -16 332<-100%
2025 q2 146 042+10% 404 142+5% -13 492<-100%
2025 q1 151 967+13% 409 858+10% 67 610+22%
2024 q4 156 310+27% 426 965+17% 86 726+66%
2024 q3 146 246+17% 387 622+1% 70 161-21%
2024 q2 132 363+15% 385 010+10% 57 599-9%
2024 q1 135 076+29% 372 010+14% 55 321-7%
2023 q4 122 839+21% 364 686+17% 52 215-8%
2023 q3 125 092+23% 384 089+23% 88 946+57%
2023 q2 114 601+10% 348 650+24% 63 637+51%
2023 q1 104 675-10% 325 525-8% 59 238-19%
2022 q4 101 682+4% 311 835+5% 56 602-3%
2022 q3 101 682 311 835 56 602
2022 q2 104 475+9% 282 260-4% 42 181-28%
2022 q1 115 925+21% 352 886+20% 73 170+25%
2021 q4 97 868 297 989 58 519
2021 q2 95 724 294 026 58 519
2021 q1 95 724 294 026 58 519
More information for subscribed users:
detailed calculation of
Potential and Created Value,
commodities affecting the company