Financials Mosenergo

Equities

MSNG

RU0008958863

Electric Utilities

End-of-day quote Moscow Micex - RTS 06:00:00 2022-07-07 pm EDT 5-day change 1st Jan Change
1.932 RUB -8.63% Intraday chart for Mosenergo -.--% -.--%

Valuation

Fiscal Period: December 2016 2017 2018 2019 2020 2021
Capitalization 1 98,231 103,934 82,149 89,834 82,142 83,394
Enterprise Value (EV) 1 116,079 106,895 60,710 109,938 87,801 97,128
P/E ratio 7.31 x 4.19 x 3.84 x 9.34 x 10.2 x 28.8 x
Yield 3.42% 6.32% 10.1% 5.34% 8.68% 10.6%
Capitalization / Revenue 0.52 x 0.53 x 0.41 x 0.47 x 0.45 x 0.37 x
EV / Revenue 0.61 x 0.55 x 0.31 x 0.58 x 0.49 x 0.43 x
EV / EBITDA 3.76 x 2.4 x 1.43 x 3.28 x 2.65 x 2.44 x
EV / FCF 5.75 x -3,835 x 2.3 x -8.49 x 5.35 x -19.3 x
FCF Yield 17.4% -0.03% 43.6% -11.8% 18.7% -5.17%
Price to Book 0.4 x 0.39 x 0.3 x 0.28 x 0.25 x 0.26 x
Nbr of stocks (in thousands) 39,609,130 39,609,130 39,609,130 39,749,360 39,749,360 39,749,360
Reference price 2 2.480 2.624 2.074 2.260 2.066 2.098
Announcement Date 3/9/17 3/12/18 3/7/19 3/6/20 3/9/21 3/5/22
1RUB in Million2RUB
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2016 2017 2018 2019 2020 2021
Net sales 1 190,656 196,056 198,870 189,777 180,908 225,158
EBITDA 1 30,907 44,555 42,534 33,481 33,072 39,873
EBIT 1 15,840 29,634 27,577 18,807 10,979 16,655
Operating Margin 8.31% 15.12% 13.87% 9.91% 6.07% 7.4%
Earnings before Tax (EBT) 1 20,449 30,112 27,262 10,611 10,170 4,123
Net income 1 13,438 24,802 21,405 9,599 8,045 2,894
Net margin 7.05% 12.65% 10.76% 5.06% 4.45% 1.29%
EPS 2 0.3393 0.6262 0.5404 0.2420 0.2024 0.0728
Free Cash Flow 1 20,192 -27.88 26,449 -12,946 16,416 -5,023
FCF margin 10.59% -0.01% 13.3% -6.82% 9.07% -2.23%
FCF Conversion (EBITDA) 65.33% - 62.18% - 49.64% -
FCF Conversion (Net income) 150.26% - 123.57% - 204.05% -
Dividend per Share 2 0.0848 0.1660 0.2100 0.1208 0.1794 0.2231
Announcement Date 3/9/17 3/12/18 3/7/19 3/6/20 3/9/21 3/5/22
1RUB in Million2RUB
Estimates

Balance Sheet Analysis

Fiscal Period: December 2016 2017 2018 2019 2020 2021
Net Debt 1 17,848 2,961 - 20,104 5,659 13,734
Net Cash position 1 - - 21,439 - - -
Leverage (Debt/EBITDA) 0.5775 x 0.0665 x - 0.6005 x 0.1711 x 0.3444 x
Free Cash Flow 1 20,192 -27.9 26,449 -12,946 16,416 -5,023
ROE (net income / shareholders' equity) 5.63% 9.69% 7.88% 3.18% 2.45% 0.9%
ROA (Net income/ Total Assets) 2.95% 5.5% 5.2% 3.17% 1.67% 2.65%
Assets 1 455,865 450,954 411,698 302,502 480,528 109,269
Book Value Per Share 2 6.200 6.720 6.990 8.210 8.300 7.950
Cash Flow per Share 2 0.2500 0.5200 0.4100 0.2900 0.1900 0
Capex 1 11,111 15,239 16,675 15,890 15,883 22,661
Capex / Sales 5.83% 7.77% 8.38% 8.37% 8.78% 10.06%
Announcement Date 3/9/17 3/12/18 3/7/19 3/6/20 3/9/21 3/5/22
1RUB in Million2RUB
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise