Company Valuation: Nornickel ADR

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 50,397 46,673 40,553 40,553 40,553 40,553
Change - -7.39% -13.11% 0% 0% 0%
Enterprise Value (EV) 1 55,102 51,625 50,455 48,646 49,139 49,691
Change - -6.31% -2.26% -3.59% 1.01% 1.12%
P/E 14.9x 7.29x 7.43x 17x 30.9x 20.8x
PBR 12.5x 12.7x 5.69x 6.34x 5.9x 3.58x
PEG - 0.1x -0.5x -0.3x -0.7x 0.4x
Capitalization / Revenue 3.24x 2.61x 2.4x 2.81x 3.24x 2.95x
EV / Revenue 3.54x 2.89x 2.99x 3.38x 3.92x 3.61x
EV / EBITDA 7.19x 4.93x 5.88x 7.23x 9.9x 9.29x
EV / EBIT 8.46x 5.45x 6.68x 8.75x 13x 13x
EV / FCF 11.9x 11.9x -12.5x 12.8x -96.1x 67.9x
FCF Yield 8.39% 8.39% -7.97% 7.79% -1.04% 1.47%
Dividend per Share 2 0.2236 0.3975 - 0.0987 - -
Rate of return 7.02% 13% - 3.72% - -
EPS 2 0.2139 0.4188 0.357 0.156 0.0859 0.1274
Distribution rate 105% 94.9% - 63.3% - -
Net sales 1 15,545 17,852 16,876 14,409 12,535 13,763
EBITDA 1 7,668 10,464 8,587 6,724 4,964 5,348
EBIT 1 6,513 9,466 7,557 5,559 3,779 3,825
Net income 1 3,385 6,512 5,458 2,384 1,313 1,947
Net Debt 1 4,705 4,952 9,902 8,093 8,586 9,138
Reference price 2 3.185 3.053 2.653 2.653 2.653 2.653
Nbr of stocks (in thousands) 15,824,548 15,286,340 15,286,340 15,286,340 15,286,340 15,286,340
Announcement Date 2/16/21 2/10/22 2/10/23 2/9/24 2/10/25 2/11/26
1USD in Million2USD
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 31.84B
25.06x9.68x14.84x2.06% 163B
23.99x3.59x8.54x0.84% 102B
12.68x1.48x6.13x2.79% 55.26B
20.55x3.83x13.07x0.85% 22.88B
7.51x0.31x8.08x5.65% 20.27B
33.07x - - 1.23% 19.88B
21.5x1.24x10.66x2.04% 17.94B
11.78x1.6x11.02x2.75% 16.58B
9.28x1.86x2.96x-.--% 14.86B
Average 18.38x 2.95x 9.41x 2.02% 46.49B
Weighted average by Cap. 21.34x 5.32x 10.93x 1.89%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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