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General information

Samolet Group provides infrastructure construction services. The Company develops and sells residential, commercial, and industrial properties. Samolet Group serves customers in Russia.
  • Current market environment: positive. Prices of production are 11.3% higher compared to the last 12 months (LTM)
  • Prices of production are at 99.3% percentile over the past 5 years, adjusted for inflation (are close to maximum)
  • Pretty weak financial results growth rate 9.1% (average between last period year over year growth for revenue and EBITDA), there is slowdown compared to average historical growth rates (49.1%)
  • Dividend yield for the last twelve months 0.0%
  • Free cash flow yield -96.7% (LTM), projected -89.3%
  • Share of USD-denominated sales in revenue of the company (estimate) ≈ 0.0%
  • Share price is 29.5% higher than minimum and 74.0% lower than maximum for the last 3 years
  • The company is undervalued by EV / LTM EBITDA multiple compared to target level (8.4x vs
    )
  • Taking into account the impact of the key rate 18.0% on the change in financial parameters: EBITDA adjustment is -39 052 mln rub as NetDebt * (current key rate - normalized 7%) / 2, expected EBITDA adjusted for key rate increases is 58 432 mln rub, expected mult is 13.3x, target mult is 9.0x, potential is -377.8%

Key Financials (Download financials)

Ticker: SMLT
Share price, RUB:  (-1.6%)1076.5
year average price 1280.72  


year start price 1909.00 2024-09-16

max close price 1978.00 2024-09-24

min close price 831.00 2024-12-19

current price 1080.50 2025-09-15
Common stocks: 61 580 000
Dividend Yield:  0.0%
FCF Yield LTM / expected: -96.7% / -89.3%
EV / LTM EBITDA:8.4x
EV / EBITDA annualized: 7.5x
Last revenue growth (y/y):  0.1%
Last growth of EBITDA (y/y):  18.1%
Historical revenue growth:  42.3%
Historical growth of EBITDA:  56.0%
Target EV / EBITDA (hist percentile):
Express share price potential:
 Mult Upside+314.0%
 FCF Creation-96.7%
 Growth+9.1%
 Growth Corr-40.0%
 
 Sum+186.4%
EV / LTM EBITDA mutiple calculation
Market Cap (m RUB): 66 291
Net Debt (m RUB): 698 012
EV (Enterprise Value): 764 303
EBITDA LTM (m RUB): 91 403
Net Income LTM (m RUB): 5 283
EV / LTM EBITDA: 8.4x
Net Debt / LTM EBITDA (if EBITDA > 0): 7.6x
Average daily trading volume for the week, RUB mln: 1557
P / E 12.5x
P / E ann-d18.0x
P / B 1.2x
EBITDA margin ann-d 29.8%
Net income margin ann-d 1.1%

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 170 9670% 65 120+5% 50 295+18% 1 843-61% 4 498+50% -47 851+31%
2024 H2 168 234+9% 48 491-11% 38 813-14% 3 440-80% 4 310+116% -36 222+51%
2024 H1 170 822+69% 61 790+78% 42 496+62% 4 718-49% 2 998+111% -36 449+155%
2023 H2 154 753+46% 54 219+80% 45 091+83% 16 857+69% 1 993+64% -23 965+98%
2023 H1 101 365+53% 34 708+59% 26 228+70% 9 241+73% 1 419+99% -14 288+64%
2022 H2 105 959>+200% 30 120>+200% 24 629>+200% 9 946>+200% 1 217+122% -12 107>+200%
2022 H1 66 160+99% 21 864+160% 15 458+141% 5 337+69% 712+65% -8 723>+200%
2021 H2 26 907-5% 6 986+67% 2 242-3% 1 310>+200% 549>+200% -1 148-58%
2021 H1 33 276+47% 8 411+48% 6 405+134% 3 154>+200% 431-25% -2 734+54%
2020 H2 28 469+3% 4 177<-100% 2 316+2% 176-55% 36-82% -2 712
2020 H1 22 676-3% 5 681+23% 2 737-2% 688+44% 578+39% -1 774-10%
2019 H2 27 730+27% -4 628<-100% 2 271>+200% 387-76% 197-94%  
2019 H1 23 415+38% 4 630+14% 2 782+35% 477-44% 417+26% -1 971+95%
2018 H2 21 806-39% 4 019-25% 485-87% 1 587-30% 3 137>+200% -1 865+51%
2018 H1 16 911+144% 4 051+192% 2 064<-100% 855<-100% 331-34% -1 011>+200%
2017 H2 ( 2342 , 2343 , 2345 ) 35 502+148% 5 371+142% 3 729>+200% 2 262-48% 356-94% -1 233-9%
2017 H1 6 943>+200% 1 388>+200% -190-69% -400-3% 503>+200% -310>+200%
2016 H2 14 331+126% 2 222+103% 1 102<-100% 4 353-99% 5 707+156% -1 354<-100%
2016 H1 48 6 -622<-100% -413<-100% 82 -2<-100%
2015 H2 6 337 1 096 564 736 505 610 2 232 31 578
2015 H1     -563 811 -501 310   -32 583


Balance


Implied interest rate for 2025 H1:
= (PercentLoss - PercentProfit) * (365 / periodLength) / (NetDebt - MinorityInterest)
= (47 851 - 4 498) * 2 / (698 012 - 27 070)

Q Total equity Total assets Net debt Implied interest rate NetDebt / LTM EBITDA
 
2025 H1 56 168+14% 1 009 101+8% 698 012+11% 12.9% 7.64x
2024 H2 52 634+45% 961 122+29% 634 604+26% 10.4% 7.59x
2024 H1 49 378+52% 933 722+110% 630 367+112% 11.0% 7.12x
2023 H2 36 339+34% 745 809+82% 505 639+80% 9.0% 7.01x
2023 H1 32 479+79% 443 719+47% 297 123+52% 9.0% 5.75x
2022 H2 27 100+65% 409 780+98% 281 216+107% 8.0% 6.92x
2022 H1 18 095+63% 301 849+138% 195 256>+200% 8.5% 7.19x
2021 H2 16 406+60% 207 142+116% 136 163>+200% 0.9% 7.44x
2021 H1 11 069+86% 126 842+45% 63 973>+200% 7.7% 4.78x
2020 H2 10 243+82% 96 032+22% 32 560+117% 18.3% 3.33x
2020 H1 5 950+11% 87 514+12% 18 154>+200% 15.0% 3.18x
2019 H2 5 623-10% 78 440+25% 15 005>+200%   2.69x
2019 H1 5 365+19% 78 112+30% 6 017+88% 62.5% 1.48x
2018 H2 6 261+52% 62 929+28% 2 143+198% -201.7% 0.85x
2018 H1 4 514+133% 60 251+29% 3 203-26% 49.0% 0.48x
2017 H2 ( 2342 , 2343 , 2345 ) 4 119+49% 49 323+42% 720<-100% 452.3% 0.29x
2017 H1 1 941<-100% 46 878<-100% 4 313<-100% -16.2% 1.20x
2016 H2 2 760<-100% 34 800+35% -622   -0.51x
2016 H1 -506 614 37 192 784+38% -1 871 221    
2015 H2 -376 25 733      
2015 H1   27 019 824      


Cashflow


Q Operating cashflow Investing cashflow Financial cashflow
 
2025 H1   3 864+107% 113 544-28%
2024 H2 3 440-80% 2 912>+200% 135 362-3%
2024 H1 4 718-49% 1 867>+200% 156 990+140%
2023 H2 16 857+69% 408<-100% 139 945+11%
2023 H1 9 241+73% 222-59% 65 285+14%
2022 H2 9 946+89% -512<-100% 126 405+78%
2022 H1 5 337+69% 540<-100% 57 276+98%
2021 H2 5 269+40% 83-82% 70 936>+200%
2021 H1 3 154>+200% -22-95% 28 858>+200%
2020 H2 3 776>+200% 469>+200% 10 837+133%
2020 H1 688+44% -463<-100% 7 684+43%
2019 H2 387-76% 2-99% 4 658<-100%
2019 H1 477-44% 0<-100% 5 355>+200%
2018 H2 1 587-60% 163-45% -367-59%
2018 H1 855<-100% 86+100% 500-83%
2017 H2 ( 2342 , 2343 , 2345 ) 3 945+147% 294+162% -897<-100%
2017 H1 -400<-100% 0<-100% 2 965<-100%
2016 H2 1 597<-100% 112<-100% 1 054-96%
2016 H1 665-99% 35<-100% -247-99%
2015 H2 -75 946 558 533 24 488
2015 H1 76 615 -558 530 -24 266
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 4 322+105% 4 322+105% 4 176+159% 272-90% 6 858+12% -12 023+53%
2025 q1 2 204+3% 2 204+3% 1 991+10% 96-79% 7 136+43% -11 370+62%
2024 q4 ( 9527 , 9549 ) 2 404+13% 2 404+13% 2 095+17% -991<-100% 7 510+128% -10 995+119%
2024 q3 ( 9118 , 9261 ) 2 773+72% 2 773+72% 2 601+89% -1 397<-100% 6 817+141% -8 849+164%
2024 q2 2 113+35% 2 113+35% 1 613+61% 2 721>+200% 6 147+135% -7 863+173%
2024 q1 2 144+41% 2 144+41% 1 813+72% 465-86% 4 994+101% -7 016+156%
2023 q4 2 136+55% 2 132+55% 1 793+90% 1 465+55% 3 293+38% -5 031+86%
2023 q3 1 617+153% 1 617+153% 1 375>+200% 2 601+47% 2 827+12% -3 348+26%
2023 q2 1 567+128% 1 567+128% 1 005>+200% 295-94% 2 614+21% -2 885+30%
2023 q1 1 522>+200% 1 522>+200% 1 057+181% 3 307<-100% 2 482+54% -2 736+48%
2022 q4 1 378+164% 1 378+164% 942>+200% 942<-100% 2 384+124% -2 706+113%
2022 q3 638+53% 638+53% 367+13% 1 769+34% 2 534>+200% -2 655+188%
2022 q2 688+118% 688+118% 230<-100% 4 791+194% 2 158>+200% -2 226>+200%
2022 q1 505+71% 505+73% 376+153% -26-33% 1 610>+200% -1 843>+200%
2021 q4 523>+200% 523>+200% 236<-100% -592+122% 1 066 -1 269
2021 q3 416>+200% 416>+200% 324>+200% 1 318<-100% 740 -923
2021 q2 316+198% 316>+200% -65<-100% 1 629<-100% 520 -687
2021 q1 296+129% 292+161% 148>+200% -40-75% 410 -565
2020 q4 157+24% 153+40% -18+199% -266+86%    
2020 q3 116-38% 106-49% 47-53% -83-25%    
2020 q2 106+79% 102>+200% 35>+200% -271+183%    
2020 q1 129+69% 112+52% 26-48% -160<-100%    
2019 q4 ( 6024 , 6025 ) 127+9% 109+25% -6<-100% -143>+200%    
2019 q3 186+74% 210+172% 99>+200% -110<-100%    
2019 q2 59-52% 2-96% 5-89% -96<-100%    
2019 q1 76>+200% 74>+200% 49>+200% 250+72%    
2018 q4 116 87 7 -15    
2018 q3 107 77 31 304    
2018 q2 124 65 49 9    
2018 q1 11 11 5 145    


Balance


Implied interest rate for 2025 q2:
= (PercentLoss - PercentProfit) * (365 / periodLength) / (NetDebt - MinorityInterest)
= (12 023 - 6 858) * 4 / (217 985 - 0)

Q Total equity Total assets Net debt
 
2025 q2 18 573-10% 284 440+14% 217 9850%
2025 q1 18 301+2% 267 219+12% 217 277+6%
2024 q4 ( 9527 , 9549 ) 18 205+4% 270 971+42% 212 224+34%
2024 q3 ( 9118 , 9261 ) 19 196+20% 262 646+106% 229 854+116%
2024 q2 20 593+54% 249 362+91% 218 048+98%
2024 q1 17 872+41% 239 161+106% 204 156+104%
2023 q4 17 474+86% 190 308+71% 158 208+65%
2023 q3 16 009+89% 127 708+15% 106 453+15%
2023 q2 13 408+14% 130 766+36% 110 291+37%
2023 q1 12 720+83% 116 223+36% 100 264+47%
2022 q4 9 413+28% 111 564+61% 95 986+77%
2022 q3 8 472+15% 111 145+61% 92 182+70%
2022 q2 11 744+59% 96 028+39% 80 514+48%
2022 q1 6 953-6% 85 573+24% 68 227+26%
2021 q4 7 372 69 095 54 262+100%
2021 q3 7 372 69 095 54 262>+200%
2021 q2 7 372 69 095 54 262>+200%
2021 q1 7 372 69 095 54 262>+200%
2020 q4     0<-100%
2020 q3     17 019+60%
2020 q2     17 019>+200%
2020 q1     17 019+60%
2019 q4 ( 6024 , 6025 )     10 618
2019 q3     10 618+138%
2019 q2     4 4630%
2019 q1     10 618+138%
2018 q4      
2018 q3     4 463
2018 q2     4 463
2018 q1     4 463
More information for subscribed users:
detailed calculation of
Potential and Created Value,
commodities affecting the company