Company Valuation: Inter RAO UES

Data adjusted to current consolidation scope
Fiscal Period: December 2019 2020 2022 2023 2024
Market Cap 1 370,792 390,685 249,965 249,965 239,319
Change - 5.36% - -0% -4.26%
Enterprise Value (EV) 1 172,801 155,568 -109,545 -181,456 -182,418
Change - -9.97% - -65.65% -0.53%
P/E 4.55x 5.21x 2.22x 1.88x 1.69x
PBR 0.67x 0.64x 0.31x 0.27x 0.23x
PEG - -0.65x - 0.1x 0.2x
Capitalization / Revenue 0.36x 0.4x 0.2x 0.18x 0.15x
EV / Revenue 0.17x 0.16x -0.09x -0.13x -0.12x
EV / EBITDA 1.37x 1.49x -0.7x -1.14x -1.2x
EV / EBIT 1.67x 1.9x -0.78x -1.3x -1.43x
EV / FCF 6.47x 2.71x - -5.88x 17.6x
FCF Yield 15.4% 36.9% - -17% 5.69%
Dividend per Share 2 0.1962 0.1807 0.2837 0.326 0.3538
Rate of return 3.89% 3.4% 8.35% 9.59% 10.4%
EPS 2 1.109 1.02 1.528 1.81 2.011
Distribution rate 17.7% 17.7% 18.6% 18% 17.6%
Net sales 1 1,032,120 986,292 1,264,996 1,359,799 1,548,447
EBITDA 1 126,353 104,511 157,293 159,715 152,600
EBIT 1 103,309 82,066 139,866 139,778 127,863
Net income 1 81,631 74,989 115,299 133,112 144,219
Net Debt 1 -197,991 -235,117 -359,510 -431,421 -421,737
Reference price 2 5.042 5.312 3.399 3.399 3.399
Nbr of stocks (in thousands) 73,540,630 73,540,630 73,540,630 73,540,607 70,408,630
Announcement Date 2/28/20 3/1/21 2/29/24 2/29/24 2/27/25
1RUB in Million2RUB
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 2.82B
35.62x6.27x45.87x0.18% 293B
21.97x9.23x15.26x2.8% 183B
20.73x4.23x11.47x3.48% 155B
14.02x1.99x6.98x5.09% 116B
21.5x5.98x13.21x3.18% 108B
18.58x5.65x11.27x3.49% 97.82B
20.52x3.15x12.37x0.67% 89.77B
21.24x5.34x12.83x2.85% 73.69B
19.47x6.41x13.72x3.81% 61.64B
Average 21.52x 5.36x 15.89x 2.84% 118.15B
Weighted average by Cap. 23.81x 5.68x 20.59x 2.45%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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  4. Valuation Inter RAO UES