Company Valuation: PAO TMK

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 63,074 74,964 63,042 63,042 64,193 64,193
Change - 18.85% -15.9% 0% 1.83% 0%
Enterprise Value (EV) 1 200,983 325,154 306,658 319,230 331,148 364,117
Change - 61.78% -5.69% 4.1% 3.73% 9.96%
P/E 2.41x 10.7x 1.49x 1.62x -2.67x -3.05x
PBR 0.91x 1.57x 0.96x 0.75x 1.18x 1.9x
PEG - -0.1x 0x -0.19x 0x 0.2x
Capitalization / Revenue 0.28x 0.17x 0.1x 0.12x 0.12x 0.16x
EV / Revenue 0.9x 0.76x 0.49x 0.59x 0.62x 0.9x
EV / EBITDA 7.28x 6.17x 2.5x 2.75x 5.33x 6.58x
EV / EBIT 12.7x 9.06x 3.19x 3.41x 9.11x 12.7x
EV / FCF 5.36x 6.13x -43.4x 15.4x 9.67x -20.5x
FCF Yield 18.6% 16.3% -2.31% 6.48% 10.3% -4.87%
Dividend per Share 2 12.67 18.53 16.46 22.96 - -
Rate of return 20.7% 25.5% 27% 37.6% - -
EPS 2 25.39 6.75 41.01 37.59 -22.83 -20.01
Distribution rate 49.9% 275% 40.1% 61.1% - -
Net sales 1 222,621 428,981 629,185 544,265 532,165 404,359
EBITDA 1 27,620 52,681 122,626 116,201 62,130 55,355
EBIT 1 15,798 35,871 96,147 93,641 36,357 28,646
Net income 1 24,271 6,974 42,369 38,832 -23,884 -21,050
Net Debt 1 137,909 250,190 243,616 256,188 266,955 299,924
Reference price 2 61.16 72.56 61.02 61.02 61.02 61.02
Nbr of stocks (in thousands) 1,031,299 1,033,135 1,033,135 1,033,135 1,052,000 1,052,000
Announcement Date 3/6/21 3/11/22 2/29/24 2/29/24 3/3/25 3/1/26
1RUB in Million2RUB
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
20.69x1.47x10.43x2.21% 2.92B
8.78x0.24x8.62x3.49% 2.36B
9.02x - - - 1.4B
18.08x - - - 867M
Average 14.14x 0.85x 9.52x 2.85% 1.88B
Weighted average by Cap. 14.50x 0.92x 9.62x 2.78%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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