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General information

TOP-10 gold producer with growing output and financials. Historically had moderate corporate governance (related party transactions, etc), but starting with 2019 is paying dividends and shows signs of governance improvement
  • Current market environment: positive. Prices of production are 17.0% higher compared to the last 12 months (LTM)
  • Prices of production are at 97.8% percentile over the past 5 years, adjusted for inflation (are close to maximum)
  • Dividend yield for the last twelve months 12.1%
  • Free cash flow yield 27.9% (LTM), projected 28.3%
  • Share of USD-denominated sales in revenue of the company (estimate) ≈ 0.0%
  • Share price is 41.2% higher than minimum and 45.6% lower than maximum for the last 3 years
  • The company is undervalued by EV / LTM EBITDA multiple compared to target level (5.8x vs
    )
  • The company is undervalued by EV / projected EBITDA multiple compared to target level (
    vs
    )
  • Taking into account the impact of the key rate 20.0% on the change in financial parameters: EBITDA adjustment is -3 419 mln rub as NetDebt * (current key rate - normalized 7%) / 2, expected EBITDA adjusted for key rate increases is 18 051 mln rub, expected mult is 5.7x, target mult is 8.8x, potential is +107.2%

Key Financials (Download financials)

Ticker: SELG
Share price, RUB:  (-1.2%)49.59
year average price 47.63  


year start price 57.20 2024-07-27

max close price 59.38 2024-09-24

min close price 35.40 2024-12-16

current price 49.59 2025-07-26
Common stocks: 1 030 000 000
Dividend Yield:  12.1%
FCF Yield LTM / expected: 27.9% / 28.3%
EV / LTM EBITDA:5.8x
EV / EBITDA annualized: 4.5x
Production prices change from LTM: 17.0%
EV / projected EBITDA:
Target EV / EBITDA (hist percentile):
Express share price potential:
EV / LTM EBITDA mutiple calculation
Market Cap (m RUB): 51 078
Net Debt (m RUB): 72 303
EV (Enterprise Value): 123 381
EBITDA LTM (m RUB): 21 211
Net Income LTM (m RUB): -12 825
EV / LTM EBITDA: 5.8x
Net Debt / LTM EBITDA (if EBITDA > 0): 3.4x
Average daily trading volume for the week, RUB mln: 482
P / B 2.4x
EBITDA margin ann-d 41.9%
Net income margin ann-d -16.7%

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

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