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General information

Rostelecom PJSC is Russia's national telecommunications operator, with points of presence in all Russian regions. The Company provides a wide range of telecommunications services, including telephone, broadband and mobile data, television, and cloud and IT solutions. Rostelecom serves residential, corporate and government customers.

Pretty weak financial results growth rate 8.8% (average between last period year over year growth for revenue and EBITDA), there is slowdown compared to average historical growth rates (10.3%)
Dividend yield for the last twelve months 4.3%
Free cash flow yield -52.0% (LTM)
Share price is 26.2% higher than minimum and 41.0% lower than maximum for the last 3 years
The company is overvalued by EV / LTM EBITDA multiple compared to target level (3.1x vs
)
Fundamental value created in LTM (estimate)

Key Financials (Download financials)

Ticker: RTKM

Share price, RUB: (+1.2%)63.61

year average price 62.82

year start price 65.15 2025-01-15

max close price 80.16 2025-02-24

min close price 52.85 2025-05-26

current price 63.61 2026-01-14

Share price (preferred), RUB: (+1.7%)61.85

Common stocks: 2 574 910 000

Dividend Yield: 4.3%

FCF Yield LTM: -52.0%

EV / LTM EBITDA:3.1x

EV / EBITDA annualized: 3.0x

Last revenue growth (y/y): 8.2%

Last growth of EBITDA (y/y): 9.4%

Historical revenue growth: 11.7%

Historical growth of EBITDA: 9.0%

Target EV / EBITDA (hist percentile):

Fundamental value created in LTM:

Потенциал с учетом ускорения/замедления

	Mult Upside	-15.2%
	FCF Creation	-52.0%
	Growth	+8.8%
	Growth Corr	-1.6%

	Sum	-60.0%

EV / LTM EBITDA mutiple calculation

Market Cap (m RUB): 176 752

Net Debt (m RUB): 787 603

EV (Enterprise Value): 964 355

EBITDA LTM (m RUB): 311 914

Net Income LTM (m RUB): 23 185

EV / LTM EBITDA: 3.1x

Net Debt / LTM EBITDA (if EBITDA > 0): 2.5x

Average daily trading volume for the week, RUB mln: 120

P / E 7.6x

P / E ann-d7.9x

P / B 0.6x

EBITDA margin ann-d 38.5%

Net income margin ann-d 2.7%

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

Фьючерсы

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Название	Инструмент	Дата экспирации	Последняя цена	За день	Дневной объем млн руб	Цена акции	Контанго / бэквордация	Annualized
Фьючерсный контракт RTKM-3.26	RTH6	2026-03-20	6540.00	-0.2%	10.5	63.61	+2.8%	+16.9%
Фьючерсный контракт RTKMP-6.26	RQM6	2026-06-19	6567.00	0.0%	0.1	63.61	+3.2%	+7.7%
Фьючерсный контракт RTKMP-3.26	RQH6	2026-03-20	6386.00	0.0%	1.0	63.61	+0.4%	+2.2%
Фьючерсный контракт RTKM-6.26	RTM6	2026-06-19	6774.00	-0.2%	0.1	63.61	+6.5%	+15.9%

MSFO data *The values are shown in mln. 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 q3	208 719+8%	36 261+19%	5 622<-100%	2 022+12%	-30 800+41%
2025 q2 ( 12266 , 12289 )	203 462+13%	37 091+20%	6 054-55%	1 971+22%	-31 574+69%
2025 q1 ( 9824 , 12288 , 14865 )	190 143+9%	33 247+5%	6 790-46%	1 844+30%	-29 949+64%
2024 q4 ( 9345 , 12287 )	233 890+12%	31 422+18%	4 719+152%	2 509+144%	-27 938+68%
2024 q3 ( 9208 , 12286 )	192 988+11%	30 350-11%	-6 737<-100%	1 801+66%	-21 894+77%
2024 q2 ( 8915 , 12285 )	179 311+11%	30 801+24%	13 567+43%	1 613+70%	-18 711+68%
2024 q1 ( 8629 , 12284 )	173 756+9%	31 807-6%	12 511-28%	1 422+63%	-18 216+59%
2023 q4 ( 7702 , 8924 )	209 337+23%	26 527+25%	1 875-52%	1 028+21%	-16 604+41%
2023 q3	173 928+29%	34 239+52%	13 564+58%	1 088+39%	-12 356-3%
2023 q2 ( 3226 , 8923 )	162 268+20%	24 838-5%	9 515-16%	947+35%	-11 168-24%
2023 q1	159 560	33 739	17 373	872	-11 431
2022 q4	170 695+2%	21 191+165%	3 866>+200%	853+43%	-11 776+7%
2022 q3	134 707-5%	22 462+6%	8 573+2%	782+32%	-12 711+26%
2022 q2	134 680-3%	26 282+21%	11 386+2%	702<-100%	-14 654+63%
2021 q4 ( 2129 , 2924 )	167 573+3%	8 009+10%	450<-100%	598+176%	-11 008+25%
2021 q3 ( 2130 , 2925 )	141 213+5%	21 228-8%	8 398-30%	594-4%	-10 055+27%
2021 q2 ( 2131 , 2926 )	138 589+9%	21 798+20%	11 174+40%	-269<-100%	-8 967-4%
2021 q1 ( 2132 , 2927 )	131 958+9%	22 672+20%	11 810+53%	1 282+98%	-8 893+8%
2020 q4 ( 2133 , 2928 )	163 009+72%	7 295<-100%	-1 522-86%	217<-100%	-8 809<-100%
2020 q3	134 988+61%	23 087+121%	11 988+87%	619-16%	-7 929+57%
2020 q2 ( 2135 , 2930 )	127 279+59%	18 195>+200%	7 990>+200%	899+1%	-9 354>+200%
2020 q1 ( 2136 , 2931 )	121 613+55%	18 947+95%	7 712+37%	646+106%	-8 272+81%
2019 q4 ( 2137 , 2932 )	94 867+9%	-26 739+70%	-10 957+43%	-385<-100%	6 623-16%
2019 q3 ( 2134 , 2138 , 2933 )	83 727+5%	10 455-4%	6 412+12%	741+120%	-5 052+14%
2019 q2 ( 2139 , 2934 )	80 160+4%	2 701-68%	2 283-26%	889+75%	-1 491-65%
2019 q1 ( 2140 , 2935 )	78 667+3%	9 709+16%	5 631+46%	313-45%	-4 575+13%
2018 q4 ( 2141 , 2936 )	87 257+4%	-15 690<-100%	-7 658<-100%	158<-100%	7 873<-100%
2018 q3	79 414+5%	10 933+19%	5 702+46%	337-52%	-4 445+9%
2018 q2	77 365+3%	8 343-26%	3 095+10%	509<-100%	-4 301-26%
2018 q1	76 203+8%	8 357+3%	3 864+23%	565+17%	-4 054+11%
2017 q4	84 113+5%	9 312-17%	4 169+16%	-133<-100%	-3 815-14%
2017 q3	75 614+4%	9 177-22%	3 906-4%	703<-100%	-4 067-6%
2017 q2	75 166+5%	11 303+37%	2 825+76%	-110<-100%	-5 802+36%
2017 q1	70 436-3%	8 093-5%	3 150+5%	481-13%	-3 666-11%
2016 q4	80 407-1%	11 248+19%	3 586-13%	421<-100%	-4 451<-100%
2016 q3	72 7810%	11 815+19%	4 060+98%	-133-86%	-4 342+9%
2016 q2 ( 2147 , 2151 )	71 7940%	8 271-15%	1 601-61%	222-57%	-4 275+6%
2016 q1	72 4640%	8 502-12%	3 002-27%	551+6%	-4 107+2%
2015 q4	81 019+11%	9 475-17%	4 116-43%	-542<-100%	3 787<-100%
2015 q3	72 4960%	9 944-13%	2 046-72%	-927<-100%	-3 990+184%
2015 q2	72 130-1%	9 692-10%	4 114-19%	518	-4 018>+200%
2015 q1	72 130-1%	9 692-10%	4 114-19%	518	-4 018>+200%
2014 q4	72 705-20%	11 481-42%	7 199-42%	47-94%	-1 403-70%
2014 q3	72 705-20%	11 481-42%	7 199-42%	47-94%	-1 403-70%
2014 q2	72 622>+200%	10 792>+200%	5 088+108%		-178+75%
2014 q1	72 622-6%	10 792-11%	5 088-26%		-178-95%
2013 q4	90 404	19 741	12 373	841	-4 677
2013 q3	90 404+17%	19 741+47%	12 373+25%	841	-4 677+6%
2013 q2	5 564-93%	1 373-92%	2 450-75%	1 330+120%	-102-97%
2013 q1	77 049-4%	12 132-29%	6 844-41%	428-48%	-3 827+4%
2012 q4
2012 q3	76 985+2%	13 434-9%	9 902+8%		-4 398+26%
2012 q2	80 853+13%	16 407+14%	9 975+4%	604+199%	-3 890+17%
2012 q1	79 958	17 052	11 691	820	-3 666
2011 q4	74 483+8%	17 243+37%	13 656+74%	895+30%	-2 826-4%
2011 q3	75 250	14 775	9 203	664	-3 497
2011 q2	71 799	14 407	9 556	202	-3 324
2010 q4	68 933	12 570	7 835	686	-2 950

Balance

Implied interest rate for 2025 q3:
= (PercentLoss - PercentProfit) * (365 / periodLength) / (NetDebt - MinorityInterest)
= (30 800 - 2 022) * 4 / (787 603 - 55 584)

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


2025 q3	281 110+4%	1 411 608+6%	787 603+15%	15.7%	2.53x
2025 q2 ( 12266 , 12289 )	285 375-3%	1 402 228+10%	766 265+23%	16.6%	2.51x
2025 q1 ( 9824 , 12288 , 14865 )	279 301-3%	1 375 335+10%	754 555+22%	16.1%	2.54x
2024 q4 ( 9345 , 12287 )	273 6180%	1 380 913+11%	718 675+13%	15.3%	2.42x
2024 q3 ( 9208 , 12286 )	269 835-8%	1 331 557+11%	683 266+23%	12.7%	2.40x
2024 q2 ( 8915 , 12285 )	294 967+6%	1 277 114+12%	624 093+17%	11.9%	2.25x
2024 q1 ( 8629 , 12284 )	288 093+5%	1 246 6680%	618 715	11.9%	2.26x
2023 q4 ( 7702 , 8924 )	274 284+13%	1 243 808+11%	634 447	10.7%	2.29x
2023 q3	292 468+20%	1 198 832+7%	554 380	8.9%	2.10x
2023 q2 ( 3226 , 8923 )	278 169+14%	1 141 795+2%	535 034	8.4%	2.07x
2023 q1	274 284	1 243 808			2.16x
2022 q4	243 691+7%	1 124 663+2%			2.26x
2022 q3	243 691+5%	1 124 663+7%			2.32x
2022 q2	243 691+9%	1 124 663+9%			2.38x
2021 q4 ( 2129 , 2924 )	227 402+4%	1 102 888+10%	566 566+10%	7.9%	2.50x
2021 q3 ( 2130 , 2925 )	231 807+25%	1 055 742+12%	560 734+18%	7.3%	2.67x
2021 q2 ( 2131 , 2926 )	223 875+18%	1 035 204+13%	544 207+16%		2.67x
2021 q1 ( 2132 , 2927 )	230 221+27%	1 007 934+13%	521 151+17%	6.3%	2.64x
2020 q4 ( 2133 , 2928 )	217 676-17%	999 761+37%	516 407+109%	7.2%	2.73x
2020 q3	185 079-29%	942 465+41%	476 438+105%	6.1%	2.91x
2020 q2 ( 2135 , 2930 )	189 801-25%	916 174+40%	470 770+106%	7.2%	3.37x
2020 q1 ( 2136 , 2931 )	181 363-29%	889 917+36%	447 145+91%	6.9%	3.77x
2019 q4 ( 2137 , 2932 )	262 188+4%	728 276+13%	247 254+16%		3.94x
2019 q3 ( 2134 , 2138 , 2933 )	261 883+3%	670 544+7%	231 899+2%	7.6%	2.00x
2019 q2 ( 2139 , 2934 )	254 710+3%	656 420+8%	228 172+4%	1.1%	2.01x
2019 q1 ( 2140 , 2935 )	256 583+1%	654 328+9%	234 281+10%	7.4%	2.11x
2018 q4 ( 2141 , 2936 )	250 953+1%	646 766+15%	212 288+15%		2.00x
2018 q3	253 583+4%	623 781+12%	228 018+17%	7.3%	2.12x
2018 q2	246 990-1%	610 429+9%	218 664	7.0%	2.12x
2018 q1	254 802+1%	601 176+8%	212 303+15%	6.7%	2.01x
2017 q4	249 3640%	560 229+1%	184 836+2%		1.99x
2017 q3	244 082-1%	556 621+1%	194 4050%	7.0%	2.03x
2017 q2	249 364+4%	560 2290%			1.94x
2017 q1	251 491+1%	556 6890%	184 435	7.1%	1.94x
2016 q4	248 6330%	555 682+1%	181 798+2%	9.1%	1.90x
2016 q3	245 735-2%	551 0860%	194 317		1.98x
2016 q2 ( 2147 , 2151 )	239 435-3%	560 862+2%	188 601+8%	8.7%	1.89x
2016 q1	248 633	555 682			1.78x
2015 q4	249 664+2%	551 3200%	177 586+1%		1.77x
2015 q3	249 664	551 320			2.27x
2015 q2	245 682>+200%	548 0660%	174 197	8.3%	3.10x
2015 q1					6.46x
2014 q4	245 227+3%	548 634>+200%	175 211-19%	3.2%
2014 q3
2014 q2	97<-100%	548 634+1%
2014 q1
2013 q4	238 8320%	93 048-84%	216 976	7.2%
2013 q3
2013 q2	208 187-13%	544 371+2%	182 133-2%	-2.7%
2013 q1
2012 q4	238 832-11%	567 190+11%
2012 q3	252 208	551 911	198 031	8.9%
2012 q2	238 023	535 865	185 510	7.1%
2012 q1
2011 q4	267 926	511 108	160 150	5.1%
2011 q3
2011 q2
2010 q4

Cashflow

Q	Operating cashflow	Investing cashflow	Financial cashflow


2025 q3	21 346-28%	-29 060-50%	-4 949<-100%
2025 q2 ( 12266 , 12289 )	22 463-36%	-26 483-29%	18 620+112%
2025 q1 ( 9824 , 12288 , 14865 )	19 073-67%	-41 927-18%	-1 166-92%
2024 q4 ( 9345 , 12287 )	77 411+187%	-67 868+17%	-1 380<-100%
2024 q3 ( 9208 , 12286 )	29 654-18%	-58 565+41%	23 889+58%
2024 q2 ( 8915 , 12285 )	35 073-15%	-37 164+48%	8 787<-100%
2024 q1 ( 8629 , 12284 )	57 373-15%	-51 245+192%	-14 857-72%
2023 q4 ( 7702 , 8924 )	27 001-23%	-58 091+122%	32 923<-100%
2023 q3	36 131+1%	-41 682+89%	15 103<-100%
2023 q2 ( 3226 , 8923 )	41 039+38%	-25 173+1%	-31 070>+200%
2023 q1	67 236	-17 573	-53 353
2022 q4	35 265-41%	-26 117-45%	-8 309<-100%
2022 q3	35 787-8%	-22 021-18%	-18 671+108%
2022 q2	29 661+17%	-24 894-7%	-8 848+161%
2021 q4 ( 2129 , 2924 )	59 342-1%	-47 307+14%	10 581<-100%
2021 q3 ( 2130 , 2925 )	39 056-15%	-26 748-11%	-8 981-62%
2021 q2 ( 2131 , 2926 )	25 384+55%	-26 6510%	-3 391<-100%
2021 q1 ( 2132 , 2927 )	28 688+68%	-26 251-81%	-5 387<-100%
2020 q4 ( 2133 , 2928 )	59 744+189%	-41 680<-100%	-7 654-93%
2020 q3	45 938+120%	-29 936+68%	-23 712>+200%
2020 q2 ( 2135 , 2930 )	16 329+12%	-26 675>+200%	10 789<-100%
2020 q1 ( 2136 , 2931 )	17 034+162%	-137 557>+200%	128 821>+200%
2019 q4 ( 2137 , 2932 )	20 656<-100%	90 769>+200%	-103 067<-100%
2019 q3 ( 2134 , 2138 , 2933 )	20 925+15%	-17 845+12%	-2 258-21%
2019 q2 ( 2139 , 2934 )	14 594+25%	-3 944-72%	-10 594<-100%
2019 q1 ( 2140 , 2935 )	6 508-22%	-21 123+19%	10 749+20%
2018 q4 ( 2141 , 2936 )	-5 766<-100%	5 156<-100%	9 936<-100%
2018 q3	18 271+1%	-15 955+40%	-2 841-75%
2018 q2	11 654+18%	-14 224-8%	3 372-45%
2018 q1	8 308-44%	-17 760+10%	8 955+192%
2017 q4	28 957+17%	-10 346-2%	-16 169+13%
2017 q3	18 020-1%	-11 433-1%	-11 585+100%
2017 q2	9 893+20%	-15 498-7%	6 085-13%
2017 q1	14 899-6%	-16 181-11%	3 068>+200%
2016 q4	24 833+7%	-10 555-37%	-14 361+55%
2016 q3	18 1850%	-11 596-24%	-5 797+29%
2016 q2 ( 2147 , 2151 )	8 258-49%	-16 620-1%	6 961<-100%
2016 q1	15 901-3%	-18 179+8%	518<-100%
2015 q4	23 141+12%	-16 784+95%	-9 244+3%
2015 q3	18 225-12%	-15 225+77%	-4 493-50%
2015 q2	16 344-8%	-16 775<-100%	-2 131-91%
2015 q1	16 344-8%	-16 775<-100%	-2 131-91%
2014 q4	20 597<-100%	-8 601<-100%	-8 956<-100%
2014 q3	20 597<-100%	-8 601<-100%	-8 956<-100%
2014 q2	17 757-25%	4 695<-100%	-22 797+187%
2014 q1	17 757-21%	4 695<-100%	-22 797>+200%
2013 q4	-7 805<-100%	4 970<-100%	2 518<-100%
2013 q3	-7 805<-100%	4 970<-100%	2 518<-100%
2013 q2	23 609+7%	-15 031-26%	-7 955>+200%
2013 q1	22 611+2%	-17 215-15%	-5 208>+200%
2012 q4	46<-100%	-160-99%	-280<-100%
2012 q3	25 586+22%	-18 921-23%	-10 634>+200%
2012 q2	22 005+7%	-20 342-26%	-660<-100%
2012 q1	22 149	-20 285	-815
2011 q4	21 582+2%	-31 113+80%	9 561<-100%
2011 q3	20 949	-24 523	-2
2011 q2	20 582	-27 621	5 131
2010 q4	21 256	-17 313	-4 201

RSBU data *The values are shown in mln. 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 q3	121 530+10%	2 454+68%	2 454+68%	19 470<-100%	11 740+68%	-25 861+21%
2025 q2	114 862+12%	1 182<-100%	1 182<-100%	-1 543<-100%	12 740+157%	-26 508+64%
2025 q1	108 643+10%	190<-100%	190<-100%	-4 403-6%	12 902>+200%	-23 595+59%
2024 q4	137 787+8%	-5 846<-100%	-5 846<-100%	35 209>+200%	10 398+141%	-25 432+48%
2024 q3	110 814+13%	1 464-4%	1 464-4%	-9 275>+200%	6 990>+200%	-21 414+115%
2024 q2	102 690+9%	-664<-100%	-664<-100%	33 267+119%	4 950>+200%	-16 115+38%
2024 q1	99 214+11%	-364<-100%	-364<-100%	-4 676<-100%	3 580+163%	-14 835+60%
2023 q4	127 269+13%	1 689<-100%	1 689<-100%	2 253<-100%	4 312+172%	-17 153+108%
2023 q3	97 803+12%	1 529-58%	1 529-58%	-2 472<-100%	2 044+28%	-9 937+16%
2023 q2	94 151+14%	828-78%	828-78%	15 196+155%	1 190-32%	-11 716+8%
2023 q1	89 605	5 361	5 361	2 536	1 360	-9 250
2022 q4	112 411+36%	-1 985<-100%	-1 985<-100%	-6 658<-100%	1 583	-8 233
2022 q3	87 118+6%	3 645-9%	3 645-9%	2 757-68%	1 592	-8 577
2022 q2	82 640+4%	3 682+166%	3 682+166%	5 952-28%	1 749	-10 815
2021 q4	82 647-5%	2 565-38%	2 565-38%	4 408<-100%
2021 q3	82 453-4%	3 998-52%	3 998-52%	8 521+20%
2021 q2	79 640+1%	1 386-55%	1 386-55%	8 298>+200%
2021 q1	77 238+1%	366-91%	366+24%	3 536+69%
2020 q4	87 064+9%	4 168-6%	4 168-6%	-2 324+176%
2020 q3	86 088+13%	8 247+79%	8 247+79%	7 105+105%
2020 q2	79 114+6%	3 094-32%	3 094-32%	2 248-16%
2020 q1	76 255+4%	4 296-1%	296-93%	2 094+174%
2019 q4	79 931+5%	4 427-26%	4 427-26%	-841<-100%
2019 q3	76 211	4 617	4 617	3 468
2019 q2	74 584	4 524	4 524	2 689
2019 q1	73 061+2%	4 347-6%	4 347-6%	764<-100%
2018 q4	76 485	6 010	6 010	1 345
2018 q3
2018 q2
2018 q1	71 757	4 619	4 619	-728
2017 q4

Balance

Implied interest rate for 2025 q3:
= (PercentLoss - PercentProfit) * (365 / periodLength) / (NetDebt - MinorityInterest)
= (25 861 - 11 740) * 4 / (545 779 - 0)

Q	Total equity	Total assets	Net debt


2025 q3	326 750+13%	1 238 026+10%	545 779+24%
2025 q2	317 1980%	1 214 392+12%	512 977+29%
2025 q1
2024 q4	323 129+14%	1 199 555+19%	471 993+19%
2024 q3	287 919-5%	1 121 210+14%	439 922+28%
2024 q2	318 255+5%	1 083 158+14%	398 771+22%
2024 q1	284 989-2%	1 023 691-1%	409 133+3%
2023 q4	283 375-2%	1 012 162+7%	398 183+12%
2023 q3	304 382+5%	981 344+4%	344 307-3%
2023 q2	301 863+5%	948 8440%	328 125-8%
2023 q1	289 665	1 030 105	398 183
2022 q4	288 765	947 796	356 786+14%
2022 q3	288 765	947 796	356 786+12%
2022 q2	288 765	947 796	356 786+14%
2021 q4			312 923+6%
2021 q3			319 985+3%
2021 q2			311 929+3%
2021 q1			299 500+7%
2020 q4			294 916+34%
2020 q3			309 286+40%
2020 q2			302 540+38%
2020 q1			281 069+25%
2019 q4			220 253+9%
2019 q3			221 004+10%
2019 q2			219 995+9%
2019 q1			225 550+12%
2018 q4			201 515+6%
2018 q3			201 515
2018 q2			201 515
2018 q1			201 515
2017 q4			190 502

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.