Company Valuation: Interregional Distribution Grid Company of the North-West

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 5,201 4,986 2,634 2,634 2,634 2,634
Change - -4.14% -47.17% 0% 0% 0%
Enterprise Value (EV) 1 20,990 21,349 18,378 14,763 8,346 6,946
Change - 1.71% -13.92% -19.67% -43.47% -16.77%
P/E -4.56x -5.65x -10.2x -4.78x 1.47x 0.51x
PBR 0.28x 0.28x 0.15x 0.16x 0.14x 0.11x
PEG - 0.3x 0.1x -0x -0x 0x
Capitalization / Revenue 0.11x 0.1x 0.05x 0.05x 0.04x 0.03x
EV / Revenue 0.44x 0.42x 0.34x 0.27x 0.13x 0.08x
EV / EBITDA 4.07x 3.01x 2.13x 2.07x 1.22x 0.63x
EV / EBIT 27.8x 7.53x 4.46x 5.65x 3.51x 1.21x
EV / FCF 51.1x 1,116x 25.8x -6.14x -8.81x -1.82x
FCF Yield 1.96% 0.09% 3.87% -16.3% -11.4% -54.9%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -0.0119 -0.009216 -0.002705 -0.005752 0.0187 0.0538
Distribution rate - - - - - -
Net sales 1 48,253 50,352 53,307 53,710 62,720 81,736
EBITDA 1 5,160 7,089 8,645 7,139 6,864 11,029
EBIT 1 755.6 2,834 4,119 2,615 2,375 5,747
Net income 1 -1,141 -882.8 -259.2 -551 1,787 5,156
Net Debt 1 15,789 16,364 15,744 12,129 5,712 4,312
Reference price 2 0.0543 0.0520 0.0275 0.0275 0.0275 0.0275
Nbr of stocks (in thousands) 95,785,923 95,785,923 95,785,923 95,785,923 95,785,923 95,785,923
Announcement Date 11/3/21 15/3/22 22/3/23 18/3/24 1/3/25 18/3/26
1RUB in Million2RUB
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 33.6M
33.02x5.61x40.76x0.2% 271B
21.66x9.17x15.63x2.83% 182B
20.24x4.19x11.53x3.53% 154B
13.74x1.96x6.97x5.13% 115B
20.79x5.99x13.27x3.25% 107B
18.39x5.69x11.42x3.53% 96.88B
20.28x3.33x13.16x0.64% 95.44B
19.97x5.22x12.62x3.01% 69.87B
19.24x6.5x13.48x3.86% 60.88B
Average 20.81x 5.30x 15.43x 2.89% 115.27B
Weighted average by Cap. 22.65x 5.49x 19.06x 2.52%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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