MISX:AVAN

Stock Analysis Report

Executive Summary

AVANGARD Joint Stock BANK provides various banking products and services to individual and corporate clients in Russia.


Snowflake Analysis

Proven track record with adequate balance sheet.

Share Price & News

How has AVANGARD BANK's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: AVAN has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0%

AVAN

1.4%

RU Banks

2.0%

RU Market


1 Year Return

25.0%

AVAN

28.2%

RU Banks

30.2%

RU Market

Return vs Industry: AVAN matched the Russian Banks industry which returned 25.7% over the past year.

Return vs Market: AVAN underperformed the Russian Market which returned 28.5% over the past year.


Shareholder returns

AVANIndustryMarket
7 Day0%1.4%2.0%
30 Day3.2%8.4%7.6%
90 Day6.6%11.1%14.0%
1 Year35.4%25.0%36.5%28.2%39.2%30.2%
3 Year50.1%35.4%80.7%55.4%69.7%42.8%
5 Year140.2%116.7%398.7%319.7%169.8%109.6%

Price Volatility Vs. Market

How volatile is AVANGARD BANK's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is AVANGARD BANK undervalued compared to its fair value and its price relative to the market?

8.96x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: AVAN (RUB650) is trading above our estimate of fair value (RUB492.59)

Significantly Below Fair Value: AVAN is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: AVAN is poor value based on its PE Ratio (9x) compared to the Banks industry average (7.7x).

PE vs Market: AVAN is poor value based on its PE Ratio (9x) compared to the Russian market (8.8x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate AVAN's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: AVAN is overvalued based on its PB Ratio (1.9x) compared to the RU Banks industry average (0.8x).


Next Steps

Future Growth

How is AVANGARD BANK forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

7.4%

Forecasted Banks industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as AVANGARD BANK has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has AVANGARD BANK performed over the past 5 years?

27.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AVAN has high quality earnings.

Growing Profit Margin: AVAN's current net profit margins (41.8%) are lower than last year (45%).


Past Earnings Growth Analysis

Earnings Trend: AVAN's earnings have grown significantly by 27.9% per year over the past 5 years.

Accelerating Growth: AVAN's earnings growth over the past year (0.8%) is below its 5-year average (27.9% per year).

Earnings vs Industry: AVAN earnings growth over the past year (0.8%) exceeded the Banks industry -0.9%.


Return on Equity

High ROE: AVAN's Return on Equity (21.5%) is considered high.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is AVANGARD BANK's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: AVAN has a low level of unsold assets or inventory.

Debt Coverage by Assets: AVAN's debt is covered by short term assets (assets are 20.4x debt).


Financial Institutions Analysis

Asset Level: AVAN's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if AVAN has a sufficient allowance for bad loans.

Low Risk Liabilities: AVAN's liabilities are made up of primarily low risk sources of funding.

Loan Level: AVAN has an acceptable proportion of non-loan assets held.

Low Risk Deposits: AVAN's loans are broadly funded by customer deposits.

Level of Bad Loans: Insufficient data to determine if AVAN has an appropriate level of bad loans.


Next Steps

Dividend

What is AVANGARD BANK's current dividend yield, its reliability and sustainability?

4.77%

Current Dividend Yield


Dividend Yield vs Market

company4.8%marketbottom25%3.3%markettop25%8.0%industryaverage5.9%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: AVAN's dividend (4.77%) is higher than the bottom 25% of dividend payers in the Russian market (3.39%).

High Dividend: AVAN's dividend (4.77%) is low compared to the top 25% of dividend payers in the Russian market (8.33%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, AVAN has been paying a dividend for less than 10 years.

Growing Dividend: AVAN's dividend payments have increased, but the company has only paid a dividend for 2 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (42.7%), AVAN's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of AVANGARD BANK's salary, the management and board of directors tenure and is there insider trading?

6.3yrs

Average management tenure


CEO

AVANGARD BANK has no CEO, or we have no data on them.


Management Age and Tenure

6.3yrs

Average Tenure

Experienced Management: AVAN's management team is seasoned and experienced (6.3 years average tenure).


Board Age and Tenure

15.6yrs

Average Tenure

56yo

Average Age

Experienced Board: AVAN's board of directors are seasoned and experienced ( 15.6 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Kirill Minovalov (48yo)

    Chairman & President

    • Tenure: 25.1yrs
  • Sergey Nikolaev (64yo)

    Senior VP & Deputy Chairman of the Board

    • Tenure: 13.6yrs
  • Vladimir Andreyev

    Deputy Chairman of the Management Board

    • Tenure: 3.5yrs
  • L. Korshunova

    Deputy Chief Accountant

    • V. Torkhov

      Chairman of Management Board

      • Viktoria Chechotkina

        Member of Management Board

        • Tenure: 6.3yrs
      • Stanislav Konovalov

        Member of Management Board and Deputy Chairman of the Board

        • Valentina Bastrakova

          Member of Management Board

          • Irina Kazantseva

            Member of Management Board & Member of the Board

            • Tatyana Adamenko

              Member of Management Board


              Board Members

              • Kirill Minovalov (48yo)

                Chairman & President

                • Tenure: 25.1yrs
              • Sergey Nikolaev (64yo)

                Senior VP & Deputy Chairman of the Board

                • Tenure: 13.6yrs
              • Mikhail Frantskevich

                Vice Chairman of the Board

                • Tenure: 14.1yrs
              • Anatoliy Yablonsky (54yo)

                Member of the Board

                • Tenure: 15.6yrs
              • Maria Melya

                Member of the Board

                • Stanislav Konovalov

                  Member of Management Board and Deputy Chairman of the Board

                  • Alla Andreevna

                    Member of the Board

                    • Irina Kazantseva

                      Member of Management Board & Member of the Board

                      • Yelena Shcherbakova

                        Member of the Board

                        • Elena Shcherbakova (58yo)

                          Director

                          • Tenure: 18.6yrs

                        Company Information

                        AVANGARD Joint Stock BANK's company bio, employee growth, exchange listings and data sources


                        Key Information

                        • Name: AVANGARD Joint Stock BANK
                        • Ticker: AVAN
                        • Exchange: MISX
                        • Founded: 1994
                        • Industry: Diversified Banks
                        • Sector: Banks
                        • Market Cap: ₽51.648b
                        • Shares outstanding: 80.70m
                        • Website: https://www.avangard.ru

                        Location

                        • AVANGARD Joint Stock BANK
                        • Building 1
                        • st. Sadovnicheskaya, 12
                        • Moscow
                        • 115035
                        • Russia

                        Listings

                        TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
                        AVANMISX (Micex - Rts)YesOrdinary SharesRURUBMar 2011

                        Biography

                        AVANGARD Joint Stock BANK provides various banking products and services to individual and corporate clients in Russia. The company offers deposits, car loans, and bank and corporate cards; and securities and precious metals transaction, safe box, settlement and cash, currency control, and money transfer services, as well as Internet banking services. It is also involved in the documentary operations; and the financing of import contracts. The company operates 300 offices in 75 cities. AVANGARD Joint Stock BANK was founded in 1994 and is based in Moscow, Russia. 


                        Company Analysis and Financial Data Status

                        All financial data provided by Standard & Poor's Capital IQ.
                        DataLast Updated (UTC time)
                        Company Analysis2020/01/20 21:39
                        End of Day Share Price2020/01/20 00:00
                        Earnings2019/03/31
                        Annual Earnings2018/12/31


                        Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.