Company Valuation: PhosAgro

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 405,658 755,374 1,026,806 1,026,806 1,026,806 1,026,806
Change - 86.21% 35.93% 0% 0% 0%
Enterprise Value (EV) 1 562,222 909,092 1,207,144 1,250,012 1,352,162 1,347,274
Change - 61.7% 32.79% 3.55% 8.17% -0.36%
P/E Ratio 24x 5.82x 5.56x 11.9x 12.2x 8.99x
PBR 3.84x 4.59x 5.2x 6.78x 6.24x 4.29x
PEG - 0x 0.1x -0.2x -6.35x 0.3x
Capitalization / Revenue 1.6x 1.8x 1.8x 2.33x 2.02x 1.79x
EV / Revenue 2.21x 2.16x 2.12x 2.84x 2.66x 2.35x
EV / EBITDA 6.78x 4.77x 4.54x 7.46x 7.98x 6.79x
EV / EBIT 9.72x 5.52x 5.08x 9.17x 10.1x 8.49x
EV / FCF 20.6x 18.4x 14.6x 12.7x -36.2x 459x
FCF Yield 4.86% 5.43% 6.85% 7.85% -2.76% 0.22%
Dividend per Share 2 297 885 783 864 330 -
Rate of return 9.48% 15.2% 9.88% 10.9% 4.16% -
EPS 2 130.7 1,002 1,426 664.7 652 881.9
Distribution rate 227% 88.4% 54.9% 130% 50.6% -
Net sales 1 253,879 420,488 569,527 440,304 507,689 573,628
EBITDA 1 82,865 190,494 266,134 167,485 169,520 198,314
EBIT 1 57,863 164,591 237,781 136,332 133,807 158,741
Net income 1 16,932 129,697 184,662 86,084 84,430 114,205
Net Debt 1 156,564 153,718 180,338 223,207 325,356 320,468
Reference price 2 3,133.00 5,833.00 7,929.00 7,929.00 7,929.00 7,929.00
Nbr of stocks (in thousands) 129,479 129,500 129,500 129,500 129,500 129,500
Announcement Date 2/19/21 2/10/22 3/3/23 4/26/24 2/13/25 4/30/26
1RUB in Million2RUB
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 12.96B
28.57x2.75x12.06x0.98% 50.92B
10.39x1.19x6.25x5.32% 7.97B
21.03x1.34x7.24x1.41% 5.42B
30.01x5.47x20.83x0.5% 4.53B
19.85x1.71x9.66x4.35% 3.59B
Average 21.97x 2.49x 11.21x 2.51% 14.23B
Weighted average by Cap. 25.66x 2.59x 11.49x 1.63%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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