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AVANGARD BANK

MISX:AVAN
Snowflake Description

Adequate balance sheet with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
AVAN
MISX
RUB53B
Market Cap
  1. Home
  2. RU
  3. Banks
Company description

AVANGARD Joint Stock BANK provides various banking products and services in Russia. The last earnings update was 33 days ago. More info.


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  • AVANGARD BANK has significant price volatility in the past 3 months.
AVAN Share Price and Events
7 Day Returns
-2.9%
MISX:AVAN
3.1%
RU Banks
1.9%
RU Market
1 Year Returns
53.5%
MISX:AVAN
7.1%
RU Banks
8.5%
RU Market
AVAN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
AVANGARD BANK (AVAN) -2.9% -15.4% 17.9% 53.5% 89.7% 230%
RU Banks 3.1% 2.5% 13.6% 7.1% 71.7% 171.9%
RU Market 1.9% 2.6% 1.5% 8.5% 34.3% 89.2%
1 Year Return vs Industry and Market
  • AVAN outperformed the Banks industry which returned 7.1% over the past year.
  • AVAN outperformed the Market in Russian Federation which returned 8.5% over the past year.
Price Volatility
AVAN
Industry
5yr Volatility vs Market

AVAN Value

 Is AVANGARD BANK undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of AVANGARD BANK to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for AVANGARD BANK.

MISX:AVAN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= RUB281.65 * 25.6%
RUB72.00
Book Value of Equity per Share Median Book Value from the past 5 years. RUB281.65
Discount Rate (Cost of Equity) See below 16%
Perpetual Growth Rate 10-Year RU Government Bond Rate 8.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for MISX:AVAN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year RU Govt Bond Rate 8.4%
Equity Risk Premium S&P Global 9.4%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.6
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.596 (1 + (1- 20%) (7.98%))
0.755
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 8.44% + (0.8 * 9.43%)
15.98%

Discounted Cash Flow Calculation for MISX:AVAN using Excess Returns Model Model

The calculations below outline how an intrinsic value for AVANGARD BANK is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

MISX:AVAN Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (25.6% – 15.98%) * RUB281.65)
RUB26.98
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= RUB26.98 / (15.98% - 8.44%)
RUB357.67
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= RUB281.65 + RUB357.67
RUB639.32
MISX:AVAN Discount to Share Price
Calculation Result
Value per share (RUB) From above. RUB639.32
Current discount Discount to share price of RUB660.00
= -1 x (RUB660.00 - RUB639.32) / RUB639.32
-3.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of AVANGARD BANK is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for AVANGARD BANK's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are AVANGARD BANK's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
MISX:AVAN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in RUB RUB63.67
MISX:AVAN Share Price ** MISX (2019-05-24) in RUB RUB660
Russian Federation Banks Industry PE Ratio Median Figure of 8 Publicly-Listed Banks Companies 6.42x
Russian Federation Market PE Ratio Median Figure of 135 Publicly-Listed Companies 7.36x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of AVANGARD BANK.

MISX:AVAN PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= MISX:AVAN Share Price ÷ EPS (both in RUB)

= 660 ÷ 63.67

10.37x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • AVANGARD BANK is overvalued based on earnings compared to the RU Banks industry average.
  • AVANGARD BANK is overvalued based on earnings compared to the Russian Federation market.
Price based on expected Growth
Does AVANGARD BANK's expected growth come at a high price?
Raw Data
MISX:AVAN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.37x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
2.5%per year
Europe Banks Industry PEG Ratio Median Figure of 113 Publicly-Listed Banks Companies 0.79x
Russian Federation Market PEG Ratio Median Figure of 34 Publicly-Listed Companies 0.73x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for AVANGARD BANK, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on AVANGARD BANK's assets?
Raw Data
MISX:AVAN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in RUB RUB307.72
MISX:AVAN Share Price * MISX (2019-05-24) in RUB RUB660
Russian Federation Banks Industry PB Ratio Median Figure of 9 Publicly-Listed Banks Companies 0.67x
Russian Federation Market PB Ratio Median Figure of 152 Publicly-Listed Companies 0.78x
MISX:AVAN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= MISX:AVAN Share Price ÷ Book Value per Share (both in RUB)

= 660 ÷ 307.72

2.14x

* Primary Listing of AVANGARD BANK.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • AVANGARD BANK is overvalued based on assets compared to the RU Banks industry average.
X
Value checks
We assess AVANGARD BANK's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. AVANGARD BANK has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

AVAN Future Performance

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

  • No analysts cover AVANGARD BANK, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
2.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is AVANGARD BANK expected to grow at an attractive rate?
  • AVANGARD BANK's earnings growth is positive but not above the low risk savings rate of 8.4%.
Growth vs Market Checks
  • AVANGARD BANK's earnings growth is positive but not above the Russian Federation market average.
  • Unable to compare AVANGARD BANK's revenue growth to the Russian Federation market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
MISX:AVAN Future Growth Rates Data Sources
Data Point Source Value (per year)
MISX:AVAN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 2.5%
Russian Federation Banks Industry Earnings Growth Rate Market Cap Weighted Average 10.2%
Europe Banks Industry Revenue Growth Rate Market Cap Weighted Average 4.1%
Russian Federation Market Earnings Growth Rate Market Cap Weighted Average 3.3%
Russian Federation Market Revenue Growth Rate Market Cap Weighted Average 4.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
MISX:AVAN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in RUB Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
MISX:AVAN Past Financials Data
Date (Data in RUB Millions) Revenue Cash Flow Net Income *
2018-12-31 12,827 1,383 5,138
2018-09-30 13,190 11,183 5,593
2018-06-30 13,370 19,955 6,086
2018-03-31 12,899 25,332 5,811
2017-12-31 13,630 268 6,525
2017-09-30 19,467 6,502 11,351
2017-06-30 17,258 -1,652 9,466
2017-03-31 15,967 -6,744 8,445
2016-12-31 16,090 -7 8,694
2016-09-30 8,971 -16,192 2,933
2016-06-30 8,750 -11,901 2,939
2016-03-31 9,414 -9,419 3,459

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • AVANGARD BANK's earnings are expected to grow by 2.5% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if AVANGARD BANK is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
MISX:AVAN Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from AVANGARD BANK Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

MISX:AVAN Past Financials Data
Date (Data in RUB Millions) EPS *
2018-12-31 63.67
2018-09-30 69.31
2018-06-30 75.41
2018-03-31 72.00
2017-12-31 80.85
2017-09-30 140.62
2017-06-30 117.19
2017-03-31 104.71
2016-12-31 107.70
2016-09-30 36.35
2016-06-30 36.43
2016-03-31 42.83

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if AVANGARD BANK will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess AVANGARD BANK's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Russian Federation market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
AVANGARD BANK has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

AVAN Past Performance

  How has AVANGARD BANK performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare AVANGARD BANK's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • AVANGARD BANK has delivered over 20% year on year earnings growth in the past 5 years.
  • AVANGARD BANK's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • AVANGARD BANK's 1-year earnings growth is negative, it can't be compared to the RU Banks industry average.
Earnings and Revenue History
AVANGARD BANK's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from AVANGARD BANK Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

MISX:AVAN Past Revenue, Cash Flow and Net Income Data
Date (Data in RUB Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 12,827.11 5,138.34 5,367.03
2018-09-30 13,190.15 5,593.01 5,223.69
2018-06-30 13,369.56 6,085.87 4,856.96
2018-03-31 12,898.64 5,810.75 4,850.73
2017-12-31 13,629.70 6,524.90 4,699.31
2017-09-30 19,467.27 11,350.85 4,560.94
2017-06-30 17,257.96 9,465.97 4,669.46
2017-03-31 15,966.70 8,445.18 4,695.10
2016-12-31 16,090.00 8,693.73 4,511.53
2016-09-30 8,970.77 2,933.01 4,518.90
2016-06-30 8,750.20 2,939.43 4,384.24
2016-03-31 9,413.82 3,458.98 4,367.27
2015-12-31 8,572.11 2,703.06 4,322.16
2015-09-30 8,037.62 2,230.76 4,252.21
2015-06-30 8,592.59 2,475.47 4,356.33
2015-03-31 8,026.05 2,297.19 4,244.77
2014-12-31 6,653.40 1,448.97 4,065.81
2014-09-30 6,755.34 1,641.57 4,081.02
2014-06-30 6,857.27 1,834.17 4,096.23
2014-03-31 6,421.49 1,443.39 3,980.54
2013-12-31 5,985.72 1,052.61 3,864.85
2013-09-30 5,516.01 856.51 3,690.14
2013-06-30 5,046.31 660.41 3,515.43
2013-03-31 5,442.72 1,047.03 3,485.12
2012-12-31 5,839.12 1,433.66 3,454.81

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • AVANGARD BANK has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • AVANGARD BANK used its assets more efficiently than the RU Banks industry average last year based on Return on Assets.
  • Unable to establish if AVANGARD BANK improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess AVANGARD BANK's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
AVANGARD BANK has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

AVAN Health

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

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of AVANGARD BANK's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from AVANGARD BANK Company Filings, last reported 4 months ago.

MISX:AVAN Past Debt and Equity Data
Date (Data in RUB Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 24,832.79 4,251.72 74,812.73
2018-09-30 23,207.32 3,253.27 70,830.46
2018-06-30 21,758.78 3,414.35 70,665.57
2018-03-31 20,887.64 7,244.13 71,715.92
2017-12-31 20,214.49 3,506.32 74,350.99
2017-09-30 22,218.20 4,142.50 68,352.88
2017-06-30 22,729.38 4,717.55 71,016.07
2017-03-31 23,684.45 3,603.60 65,388.39
2016-12-31 21,912.02 10,689.02 66,923.06
2016-09-30 23,714.29 6,125.66 59,193.90
2016-06-30 23,657.76 7,009.92 55,141.80
2016-03-31 23,582.20 10,778.06 50,918.01
2015-12-31 21,561.21 20,996.87 53,238.11
2015-09-30
2015-06-30 20,408.98 18,312.85 40,654.20
2015-03-31 18,548.80 21,663.72 37,133.71
2014-12-31 18,548.80 21,663.72 37,133.71
2014-09-30 18,548.80 21,663.72 37,133.71
2014-06-30 17,933.51 21,602.60 18,135.74
2014-03-31 17,933.51 21,602.60 18,135.74
2013-12-31 16,799.83 22,601.75 18,922.23
2013-09-30 16,799.83 22,601.75 18,922.23
2013-06-30 15,647.65 22,629.01 26,904.11
2013-03-31 15,647.65 22,629.01 26,904.11
2012-12-31 15,095.39 19,585.78 30,725.06
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • AVANGARD BANK has an acceptable proportion of non-loan assets held.
  • AVANGARD BANK's liabilities are made up of primarily low risk sources of funding.
  • Loans at AVANGARD BANK are broadly funded by customer deposits.
  • AVANGARD BANK's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • Unable to establish if AVANGARD BANK has a sufficient allowance for bad loans without relevant financial data.
  • Unable to establish if AVANGARD BANK has an acceptable level of bad loans without bad loans data.
X
Financial health checks
We assess AVANGARD BANK's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. AVANGARD BANK has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

AVAN Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.69%
Current annual income from AVANGARD BANK dividends.
If you bought RUB2,000 of AVANGARD BANK shares you are expected to receive RUB94 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • AVANGARD BANK's pays a higher dividend yield than the bottom 25% of dividend payers in Russian Federation (3.38%).
  • AVANGARD BANK's dividend is below the markets top 25% of dividend payers in Russian Federation (9.21%).
Upcoming dividend payment

Purchase AVANGARD BANK before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
MISX:AVAN Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Russian Federation Banks Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 6.8%
Russian Federation Market Average Dividend Yield Market Cap Weighted Average of 74 Stocks 7%
Russian Federation Minimum Threshold Dividend Yield 10th Percentile 1.7%
Russian Federation Bottom 25% Dividend Yield 25th Percentile 3.4%
Russian Federation Top 25% Dividend Yield 75th Percentile 9.2%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

MISX:AVAN Past Annualized Dividends Data
Date (Data in RUB) Dividend per share (annual) Avg. Yield (%)
2019-04-24 30.980 4.370
2018-11-29 12.400 1.904
2018-09-03 12.400 2.921
2018-06-04 6.200 1.192
2018-04-28 6.200 1.576

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • It is too early to tell whether AVANGARD BANK has stable dividend payments.
  • AVANGARD BANK only just started paying a dividend, it is too early to tell if payments are increasing.
Current Payout to shareholders
What portion of AVANGARD BANK's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.1x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess AVANGARD BANK's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.7%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can AVANGARD BANK afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. AVANGARD BANK has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

AVAN Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
  • AVANGARD BANK has no CEO, or we have no data on them.
Management Team Tenure

Average tenure of the AVANGARD BANK management team in years:

5.6
Average Tenure
  • The average tenure for the AVANGARD BANK management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Kirill Minovalov

TITLE
Chairman & President
AGE
47
TENURE
20.8 yrs

Stanislav Konovalov

TITLE
Member of Management Board and Deputy Chairman of the Board

V. Torkhov

TITLE
Chairman of Management Board

Vladimir Andreyev

TITLE
Deputy Chairman of the Management Board
TENURE
2.8 yrs

Viktoria Chechotkina

TITLE
Member of Management Board
TENURE
5.6 yrs

Valentina Bastrakova

TITLE
Member of Management Board

Irina Kazantseva

TITLE
Member of Management Board & Member of the Board

Tatyana Adamenko

TITLE
Member of Management Board

Sergey Nikolaev

TITLE
Senior VP & Deputy Chairman of the Board
AGE
63

L. Korshunova

TITLE
Deputy Chief Accountant
Board of Directors Tenure

Average tenure and age of the AVANGARD BANK board of directors in years:

14.9
Average Tenure
55
Average Age
  • The average tenure for the AVANGARD BANK board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Mikhail Frantskevich

TITLE
Vice Chairman of the Board
TENURE
13.4 yrs

Kirill Minovalov

TITLE
Chairman & President
AGE
47
TENURE
24.4 yrs

Stanislav Konovalov

TITLE
Member of Management Board and Deputy Chairman of the Board

Irina Kazantseva

TITLE
Member of Management Board & Member of the Board

Sergey Nikolaev

TITLE
Senior VP & Deputy Chairman of the Board
AGE
63
TENURE
12.9 yrs

Maria Melya

TITLE
Member of the Board

Anatoliy Yablonsky

TITLE
Member of the Board
AGE
53
TENURE
14.9 yrs

Alla Andreevna

TITLE
Member of the Board

Yelena Shcherbakova

TITLE
Member of the Board

Elena Shcherbakova

TITLE
Director
AGE
57
TENURE
17.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (RUB) Value (RUB)
X
Management checks
We assess AVANGARD BANK's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. AVANGARD BANK has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

AVAN News

Simply Wall St News

Investors Who Bought AVANGARD BANK Shares Five Years Ago Are Now Up 190%

One great example is AVANGARD Joint Stock BANK (MCX:AVAN) which saw its share price drive 190% higher over five years. … One flawed but reasonable way to assess how sentiment around a company has changed, is to compare the earnings per share (EPS) with the share price. … Over half a decade, AVANGARD BANK managed to grow its earnings per share at 46% a year.

Simply Wall St -

How Does AVANGARD Joint Stock BANK (MCX:AVAN) Fare As A Dividend Stock?

AVANGARD Joint Stock BANK (MCX:AVAN) has begun paying dividends recently. … Does AVANGARD BANK tick all the boxes of a great dividend stock? … Check out our latest analysis for AVANGARD BANK?

Simply Wall St -

Why These Fundamentals Make AVANGARD Joint Stock BANK’s (MCX:AVAN) More Attractive

As a small-cap bank stock with a market capitalisation of RUруб36b, AVANGARD Joint Stock BANK’s (MCX:AVAN) risk and profitability are largely determined by the underlying economic growth of the RU regions in which it operates. … These reforms target bank level regulation and aims to improve the banking sector’s ability to absorb shocks arising from economic stress which could expose financial institutions to vulnerabilities. … Since its financial standing can unexpectedly decline in the case of an adverse macro event such as political instability, it is important to understand how prudent the bank is at managing its risk levels.

Simply Wall St -

What Makes AVANGARD Joint Stock BANK (MCX:AVAN) A Hard Investment?

AVANGARD Joint Stock BANK’s (MCX:AVAN) profitability and risk are largely affected by the underlying economic growth for the region it operates in RU given it is a small-cap stock with a market capitalisation of RUруб40.27b. … The Basel III reforms are aimed at banking regulations to improve financial institutions’ ability to absorb shocks caused by economic stress which could expose banks like AVANGARD BANK to vulnerabilities. … Low levels of leverage coupled with sufficient liquidity may place AVANGARD BANK in a safe position in the face of adverse headwinds.

Simply Wall St -

Is AVANGARD Joint Stock BANK's (MCX:AVAN) ROE Of 27.82% Sustainable?

I am writing today to help inform people who are new to the stock market. … and want to better understand how you can grow your money by investing in AVANGARD Joint Stock BANK (MCX:AVAN). … With an ROE of 27.82%, AVANGARD Joint Stock BANK (MCX:AVAN) outpaced its own industry which delivered a less exciting 10.43% over the past year.

Simply Wall St -

Can Avangard Joint Stock BANK (MCX:AVAN) Survive The Next Financial Crisis?

High liquidity and low leverage could position Avangard BANK favourably at the face of macro headwinds. … This means less than half of the bank’s total assets are tied up in the form of illiquid loans, leading to high liquidity, perhaps at the expense of generating interest income. … Relative to the prudent industry loan to deposit level of 90%, Avangard BANK’s ratio of over 52.28% is markedly lower, which means the bank is lending out less than its total level of deposits and positions the bank cautiously in terms of liquidity as it has not disproportionately lent out its deposits and has retained an apt level of deposits.

Simply Wall St -

Is Avangard Joint Stock BANK (MCX:AVAN) A Buy At Its Current PE Ratio?

Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for AVAN Price per share = RUB483 Earnings per share = RUB140.624 ∴ Price-Earnings Ratio = RUB483 ÷ RUB140.624 = 3.4x The P/E ratio isn’t a metric you view in isolation and only becomes useful when you compare it against other similar companies. … For example, if you accidentally compared higher growth firms with AVAN, then AVAN’s P/E would naturally be lower since investors would reward its peers’ higher growth with a higher price. … Alternatively, if you inadvertently compared less risky firms with AVAN, AVAN’s P/E would again be lower since investors would reward its peers’ lower risk with a higher price as well.

Simply Wall St -

AVAN Company Info

Description

AVANGARD Joint Stock BANK provides various banking products and services in Russia. The company offers deposits, car loans, bank and corporate cards, banknotes, securities brokerage and precious metals transaction, settlement and cash, exchange control, and money transfer services, as well as Internet banking services. It is also involved in 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. AVANGARD Joint Stock BANK is a subsidiary of Alkor Holding Group JSC.

Details
Name: AVANGARD Joint Stock BANK
AVAN
Exchange: MISX
Founded: 1994
RUB53,262,000,000
80,700,000
Website: http://www.avangard.ru
Address: AVANGARD Joint Stock BANK
Building 1,
st. Sadovnicheskaya, 12,
Moscow,
115035,
Russia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
MISX AVAN Ordinary Shares Micex - Rts RU RUB 21. Mar 2011
Number of employees
Current staff
Staff numbers
0
AVANGARD BANK employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/26 21:27
End of day share price update: 2019/05/24 00:00
Last earnings filing: 2019/04/23
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.