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Sberbank of Russia

MISX:SBER
Snowflake Description

Good value with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SBER
MISX
RUB5,198B
Market Cap
  1. Home
  2. RU
  3. Banks
Company description

Sberbank of Russia provides corporate and retail banking products and services to individuals, small businesses, corporate clients, and financial institutions. The last earnings update was 48 days ago. More info.


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SBER Share Price and Events
7 Day Returns
2.5%
MISX:SBER
-4.3%
RU Banks
-0.3%
RU Market
1 Year Returns
17.4%
MISX:SBER
14.9%
RU Banks
17.9%
RU Market
SBER Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Sberbank of Russia (SBER) 2.5% 6.5% 15.3% 17.4% 81.3% 179.5%
RU Banks -4.3% 4.5% 13.2% 14.9% 75.6% 177.3%
RU Market -0.3% 6.3% 8.3% 17.9% 42.2% 92.9%
1 Year Return vs Industry and Market
  • SBER outperformed the Banks industry which returned 14.9% over the past year.
Price Volatility
SBER
Industry
5yr Volatility vs Market

Value

 Is Sberbank of Russia 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 Sberbank of Russia 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 Sberbank of Russia.

MISX:SBER Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 10 analysts.
= Stable Book Value * Return on Equity
= RUB229.61 * 21.9%
RUB50.24
Book Value of Equity per Share Weighted future Book Value estimates from 8 analysts. RUB229.61
Discount Rate (Cost of Equity) See below 16.8%
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:SBER
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 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.59 (1 + (1- 20%) (50.85%))
0.886
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.89
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 8.44% + (0.886 * 9.43%)
16.79%

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

The calculations below outline how an intrinsic value for Sberbank of Russia 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:SBER Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (21.9% – 16.79%) * RUB229.61)
RUB11.68
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= RUB11.68 / (16.79% - 8.44%)
RUB139.83
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= RUB229.61 + RUB139.83
RUB369.44
MISX:SBER Discount to Share Price
Calculation Result
Value per share (RUB) From above. RUB369.44
Current discount Discount to share price of RUB241.80
= -1 x (RUB241.80 - RUB369.44) / RUB369.44
34.5%

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

Current Discount
Amount off the current price Sberbank of Russia is available for.
Intrinsic value
35%
Share price is RUB241.8 vs Future cash flow value of RUB369.44
Current Discount Checks
For Sberbank of Russia to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Sberbank of Russia's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Sberbank of Russia's share price is below the future cash flow value, but not at a substantial discount (< 40%).
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 Sberbank of Russia's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Sberbank of Russia's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
MISX:SBER PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in RUB RUB38.24
MISX:SBER Share Price ** MISX (2019-06-18) in RUB RUB241.8
Russian Federation Banks Industry PE Ratio Median Figure of 8 Publicly-Listed Banks Companies 7.2x
Russian Federation Market PE Ratio Median Figure of 136 Publicly-Listed Companies 7.28x

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

** Primary Listing of Sberbank of Russia.

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

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

= 241.8 ÷ 38.24

6.32x

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

  • Sberbank of Russia is good value based on earnings compared to the RU Banks industry average.
  • Sberbank of Russia is good value based on earnings compared to the Russian Federation market.
Price based on expected Growth
Does Sberbank of Russia's expected growth come at a high price?
Raw Data
MISX:SBER PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 6.32x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts
10.8%per year
Europe Banks Industry PEG Ratio Median Figure of 113 Publicly-Listed Banks Companies 0.78x
Russian Federation Market PEG Ratio Median Figure of 32 Publicly-Listed Companies 0.69x

*Line of best fit is calculated by linear regression .

MISX:SBER PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 6.32x ÷ 10.8%

0.59x

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

  • Sberbank of Russia is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Sberbank of Russia's assets?
Raw Data
MISX:SBER PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in RUB RUB188.75
MISX:SBER Share Price * MISX (2019-06-18) in RUB RUB241.8
Russian Federation Banks Industry PB Ratio Median Figure of 9 Publicly-Listed Banks Companies 0.66x
Russian Federation Market PB Ratio Median Figure of 154 Publicly-Listed Companies 0.8x
MISX:SBER PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 241.8 ÷ 188.75

1.28x

* Primary Listing of Sberbank of Russia.

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

  • Sberbank of Russia is overvalued based on assets compared to the RU Banks industry average.
X
Value checks
We assess Sberbank of Russia'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. Sberbank of Russia has a total score of 4/6, 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.

Future Performance

 How is Sberbank of Russia expected to perform in the next 1 to 3 years based on estimates from 12 analysts?

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
10.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Sberbank of Russia expected to grow at an attractive rate?
  • Sberbank of Russia's earnings growth is expected to exceed the low risk savings rate of 8.4%.
Growth vs Market Checks
  • Sberbank of Russia's earnings growth is expected to exceed the Russian Federation market average.
  • Sberbank of Russia's revenue growth is expected to exceed the Russian Federation market average.
Annual Growth Rates Comparison
Raw Data
MISX:SBER Future Growth Rates Data Sources
Data Point Source Value (per year)
MISX:SBER Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts 10.8%
MISX:SBER Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 12 Analysts 9.2%
Russian Federation Banks Industry Earnings Growth Rate Market Cap Weighted Average 11.1%
Europe Banks Industry Revenue Growth Rate Market Cap Weighted Average 4%
Russian Federation Market Earnings Growth Rate Market Cap Weighted Average 2.8%
Russian Federation Market Revenue Growth Rate Market Cap Weighted Average 4.5%

*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:SBER Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
All numbers in RUB Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
MISX:SBER Future Estimates Data
Date (Data in RUB Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 3,034,800 1
2022-12-31 2,740,150 1,229,000 2
2021-12-31 2,511,051 1,132,409 9
2020-12-31 2,312,129 1,035,128 9
2019-12-31 2,101,593 894,528 9
MISX:SBER Past Financials Data
Date (Data in RUB Millions) Revenue Cash Flow Net Income *
2019-03-31 1,812,800 -1,894,900 822,200
2018-12-31 1,800,300 -1,543,200 820,700
2018-09-30 1,752,200 -1,421,300 804,200
2018-06-30 1,735,900 -1,411,200 801,600
2018-03-31 1,695,500 -1,298,600 776,500
2017-12-31 1,604,300 -1,336,400 711,500
2017-09-30 1,599,900 -1,020,400 687,000
2017-06-30 1,514,700 -602,500 609,500
2017-03-31 1,481,700 6,500 580,600
2016-12-31 1,432,700 173,500 538,600
2016-09-30 1,329,200 -16,700 470,900
2016-06-30 1,229,900 -1,383,300 399,200

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Sberbank of Russia's earnings are expected to grow by 10.8% yearly, however this is not considered high growth (20% yearly).
  • Sberbank of Russia's revenue is expected to grow by 9.2% yearly, however this is not considered high growth (20% yearly).
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:SBER Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below

All data from Sberbank of Russia Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

MISX:SBER Future Estimates Data
Date (Data in RUB Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31 54.23 54.23 54.23 1.00
2021-12-31 51.43 63.18 45.80 7.00
2020-12-31 47.17 53.34 44.40 8.00
2019-12-31 41.16 42.30 39.96 4.00
MISX:SBER Past Financials Data
Date (Data in RUB Millions) EPS *
2019-03-31 38.24
2018-12-31 38.17
2018-09-30 37.40
2018-06-30 37.28
2018-03-31 36.12
2017-12-31 33.09
2017-09-30 31.95
2017-06-30 28.35
2017-03-31 27.00
2016-12-31 25.05
2016-09-30 21.90
2016-06-30 18.57

*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.
  • Sberbank of Russia is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Sberbank of Russia'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.
Sberbank of Russia has a total score of 4/6, 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.

Past Performance

  How has Sberbank of Russia 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 Sberbank of Russia'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.
  • Sberbank of Russia has delivered over 20% year on year earnings growth in the past 5 years.
  • Sberbank of Russia's 1-year earnings growth is less than its 5-year average (5.9% vs 26.7%)
  • Sberbank of Russia's earnings growth has not exceeded the RU Banks industry average in the past year (5.9% vs 6.8%).
Earnings and Revenue History
Sberbank of Russia'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 Sberbank of Russia Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

MISX:SBER Past Revenue, Cash Flow and Net Income Data
Date (Data in RUB Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 1,812,800.00 822,200.00 596,400.00
2018-12-31 1,800,300.00 820,700.00 588,800.00
2018-09-30 1,752,200.00 804,200.00 574,200.00
2018-06-30 1,735,900.00 801,600.00 565,200.00
2018-03-31 1,695,500.00 776,500.00 563,100.00
2017-12-31 1,604,300.00 711,500.00 552,000.00
2017-09-30 1,599,900.00 687,000.00 401,300.00
2017-06-30 1,514,700.00 609,500.00 281,700.00
2017-03-31 1,481,700.00 580,600.00 158,500.00
2016-12-31 1,432,700.00 538,600.00 43,400.00
2016-09-30 1,329,200.00 470,900.00 39,000.00
2016-06-30 1,229,900.00 399,200.00 37,300.00
2016-03-31 1,103,300.00 310,200.00 36,100.00
2015-12-31 997,800.00 222,800.00 35,400.00
2015-09-30 935,100.00 199,600.00 34,500.00
2015-06-30 919,600.00 205,500.00 33,800.00
2015-03-31 950,600.00 246,300.00 33,100.00
2014-12-31 975,600.00 289,100.00 32,500.00
2014-09-30 993,600.00 333,300.00 29,700.00
2014-06-30 1,012,000.00 356,600.00 29,900.00
2014-03-31 992,700.00 345,500.00 -65,600.00
2013-12-31 997,500.00 360,700.00 27,700.00
2013-09-30 982,500.00 352,100.00 25,500.00
2013-06-30 960,100.00 345,200.00 24,000.00
2013-03-31 943,900.00 342,600.00 117,700.00
2012-12-31 930,300.00 346,200.00 21,300.00
2012-09-30 871,000.00 320,600.00 22,800.00
2012-06-30 831,600.00 312,700.00 19,900.00

*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.
  • Sberbank of Russia has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Sberbank of Russia used its assets more efficiently than the RU Banks industry average last year based on Return on Assets.
  • Unable to establish if Sberbank of Russia 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 Sberbank of Russia'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.
Sberbank of Russia 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.

Health

 How is Sberbank of Russia'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 Sberbank of Russia'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 Sberbank of Russia Company Filings, last reported 2 months ago.

MISX:SBER Past Debt and Equity Data
Date (Data in RUB Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 4,058,500.00 2,643,500.00 4,860,400.00
2018-12-31 3,855,800.00 2,840,300.00 6,020,700.00
2018-09-30 3,660,700.00 2,653,600.00 4,385,100.00
2018-06-30 3,489,400.00 2,328,200.00 4,620,300.00
2018-03-31 3,583,500.00 2,705,700.00 4,610,600.00
2017-12-31 3,436,000.00 2,673,200.00 4,301,300.00
2017-09-30 3,267,000.00 2,544,600.00 3,667,000.00
2017-06-30 3,040,400.00 2,571,200.00 3,512,100.00
2017-03-31 2,958,900.00 2,537,900.00 3,629,700.00
2016-12-31 2,821,600.00 2,798,000.00 3,795,900.00
2016-09-30 2,733,000.00 3,234,000.00 3,139,400.00
2016-06-30 2,604,300.00 2,785,200.00 3,150,700.00
2016-03-31 2,499,700.00 3,737,600.00 3,337,900.00
2015-12-31 2,375,000.00 3,983,500.00 3,705,300.00
2015-09-30 2,242,700.00 4,735,900.00 3,973,100.00
2015-06-30 2,162,600.00 4,929,900.00 3,157,500.00
2015-03-31 2,096,900.00 5,701,900.00 2,702,000.00
2014-12-31 2,020,100.00 6,886,900.00 3,393,600.00
2014-09-30 2,013,800.00 4,974,900.00 1,832,300.00
2014-06-30 1,955,800.00 4,339,500.00 1,583,100.00
2014-03-31 1,925,700.00 4,303,200.00 1,671,100.00
2013-12-31 1,881,400.00 3,887,600.00 1,867,600.00
2013-09-30 1,799,500.00 3,293,200.00 1,299,300.00
2013-06-30 1,706,500.00 2,988,600.00 1,325,800.00
2013-03-31 1,707,600.00 2,836,300.00 1,369,200.00
2012-12-31 1,623,800.00 2,996,800.00 1,570,400.00
2012-09-30 1,523,700.00 2,393,800.00 940,400.00
2012-06-30 1,415,400.00 2,012,700.00 1,077,700.00
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.
  • Sberbank of Russia has an acceptable proportion of non-loan assets held.
  • Sberbank of Russia's liabilities are made up of primarily low risk sources of funding.
  • Loans at Sberbank of Russia are broadly funded by customer deposits.
  • Sberbank of Russia's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • Sberbank of Russia has a low allowance for bad loans.
  • Sberbank of Russia has a high level of bad loans (greater than 2%).
X
Financial health checks
We assess Sberbank of Russia'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. Sberbank of Russia 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.

Dividends

 What is Sberbank of Russia'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
6.62%
Current annual income from Sberbank of Russia dividends. Estimated to be 10.24% next year.
If you bought RUB2,000 of Sberbank of Russia shares you are expected to receive RUB132 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?
  • Sberbank of Russia's pays a higher dividend yield than the bottom 25% of dividend payers in Russian Federation (3.21%).
  • Sberbank of Russia's dividend is below the markets top 25% of dividend payers in Russian Federation (8.64%).
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:SBER 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 12 Analyst Estimates (S&P Global) See Below
Russian Federation Banks Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 6.5%
Russian Federation Market Average Dividend Yield Market Cap Weighted Average of 73 Stocks 6.7%
Russian Federation Minimum Threshold Dividend Yield 10th Percentile 1.7%
Russian Federation Bottom 25% Dividend Yield 25th Percentile 3.2%
Russian Federation Top 25% Dividend Yield 75th Percentile 8.6%

Industry and Market average data is calculated daily.

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

MISX:SBER Future Dividends Estimate Data
Date (Data in RUB) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 30.90 1.00
2022-12-31 31.44 3.00
2021-12-31 26.86 12.00
2020-12-31 24.09 12.00
2019-12-31 20.43 10.00
MISX:SBER Past Annualized Dividends Data
Date (Data in RUB) Dividend per share (annual) Avg. Yield (%)
2019-04-16 16.000 6.855
2018-04-17 12.000 5.895
2017-05-24 6.000 3.016
2016-11-15 1.970 1.197
2016-04-12 1.970 1.438
2015-05-28 0.450 0.524
2015-03-27 0.450 0.620
2015-03-25 0.450 0.716
2014-11-26 3.200 4.917
2014-08-28 3.200 4.253
2014-07-10 3.200 4.202
2013-06-03 2.570 2.805
2012-08-29 2.080 2.139
2012-03-28 2.080 2.337
2011-06-03 0.920 1.057
2010-03-22 0.080 0.089

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

  • Sberbank of Russia has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Sberbank of Russia only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Sberbank of Russia's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.9x coverage).
X
Income/ dividend checks
We assess Sberbank of Russia'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 Sberbank of Russia afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Sberbank of Russia has a total score of 3/6, see the detailed checks below.


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

Management

 What is the CEO of Sberbank of Russia'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.
CEO
Herman Gref
AGE 54
TENURE AS CEO 11.6 years
CEO Bio

Mr. Herman Oskarovich Gref has been the Chief Executive Officer and Chairman of the Executive Board of PAO Sberbank of Russia since 2007 and has been its Member of Supervisory Board since June 2005. Mr. Gref is a Member of the Board of Trustees of World Economic Forum. He has been a Non-Executive Director of Yandex N.V. since May 2014. From 2000 to 2007, Mr. Gref served as the Minister for Economic Development of the Russian Federation and has previously served in a number of government positions at the federal and regional levels in Russia. He served as First Deputy Minister of State Property of the Russian Federation from 1998 to 2000; Vice Governor, St. Petersburg Mayor's Office from 1997 to 1998; Deputy Chairman, St. Petersburg Mayor's Office from 1994 to 1997; Deputy Head of Petrodvorets Administration from 1992 to 1994; Head of Petrodvorets District Agency, Committee for City Property Management, St. Petersburg Mayor's Office from 1992, and 1st Rank Legal Adviser at Economic Development and Property Committee, Petrodvorets and St. Petersburg Administration from 1991 to 1992. Mr. Gref holds a degree in law from Dostoyevsky Omsk State University in the year 1990, a Ph.D. in law from St Petersburg State University and a Ph.D. in economics from The Russian Presidential Academy of National Economy and Public Administration. Mr. Gref holds a Citation and Certificate of Honor from the President of the Russian Federation, the Order for Distinguished Service of Grade IV and the Stolypin Medal.

CEO Compensation
  • Insufficient data for Herman to compare compensation growth.
  • Insufficient data for Herman to establish whether their remuneration is reasonable compared to companies of similar size in .
Management Team Tenure

Average tenure and age of the Sberbank of Russia management team in years:

6.2
Average Tenure
49
Average Age
  • The average tenure for the Sberbank of Russia management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Herman Gref

TITLE
Chairman of the Executive Board
AGE
54
TENURE
11.6 yrs

Bella Zlatkis

TITLE
Deputy Chairman of Executive Board & Supervisory Board Member
AGE
70
TENURE
15.1 yrs

Stanislav Kuznetsov

TITLE
Deputy Chairman of the Executive Board
AGE
56
TENURE
8.7 yrs

Anatoly Popov

TITLE
Deputy Chairman of Executive Board
AGE
44
TENURE
1 yrs

Alexander Vladimirovich Morozov

TITLE
Deputy Chairman of the Executive Board & CFO
AGE
49
TENURE
6.4 yrs

Oleg Ganeev

TITLE
Deputy Chairman of the Executive Board
AGE
46

Alexander Vedyakhin

TITLE
First Deputy Chairman of Executive Board
AGE
41
TENURE
1 yrs

Khasis Aronovich

TITLE
First Deputy Chairman of the Executive Board & COO
AGE
52
TENURE
5.9 yrs

Svetlana Kirsanova

TITLE
Deputy Chairwoman of the Executive Board & Head of the Retail Unit
AGE
35
TENURE
0.5 yrs

Alexey Minenko

TITLE
Senior MD & Deputy Chief Accountant
Board of Directors Tenure

Average tenure and age of the Sberbank of Russia board of directors in years:

2.6
Average Tenure
64.5
Average Age
  • The average tenure for the Sberbank of Russia board of directors is less than 3 years, this suggests a new board.
Board of Directors

Sergei Ignatiev

TITLE
Chairman of Supervisory Board
AGE
70
TENURE
17 yrs

Herman Gref

TITLE
Chairman of the Executive Board
AGE
54
TENURE
14 yrs

Bella Zlatkis

TITLE
Deputy Chairman of Executive Board & Supervisory Board Member
AGE
70
TENURE
1 yrs

Sergey Shvetsov

TITLE
Deputy Chairman of the Supervisory Board
AGE
48
TENURE
1 yrs

Gennady Melikyan

TITLE
Deputy Chairman of Supervisory Board & Senior Independent Supervisory Board Member
AGE
71
TENURE
0.1 yrs

Valery Goreglyad

TITLE
Supervisory Board Member
AGE
60
TENURE
1 yrs

Nadya Wells

TITLE
Supervisory Board Member
AGE
48
TENURE
5 yrs

Nadezhda Ivanova

TITLE
Supervisory Board Member
AGE
65
TENURE
17 yrs

Esko Aho

TITLE
Supervisory Board Member
AGE
64
TENURE
3.1 yrs

Leonid Boguslavsky

TITLE
Supervisory Board Member
AGE
67
TENURE
2.1 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 Sberbank of Russia'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. Sberbank of Russia 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.

News

Simply Wall St News

Who Really Owns Sberbank of Russia (MCX:SBER)?

In this article, I'm going to take a look at Sberbank of Russia’s (MCX:SBER) latest ownership structure, a non-fundamental factor which is important, but remains a less discussed subject among investors. … When it comes to ownership structure of a company, the impact has been observed in both the long-and short-term performance of shares. … Therefore, it is beneficial for us to examine SBER's ownership structure in more detail.

Simply Wall St -

Sberbank of Russia (MCX:SBER): What Are The Future Prospects?

In March 2018, Sberbank of Russia (MCX:SBER) announced its earnings update. … the higher past 5-year average growth rate of 13.63% … By 2019, we can expect Sberbank of Russia’s bottom line to reach RUруб847.55b, a jump from the current trailing-twelve-month RUруб788.80b.

Simply Wall St -

Reasons Why I Like Sberbank of Russia (MCX:SBER)

Sberbank of Russia (MCX:SBER) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … In the case of SBER, it

Simply Wall St -

Sberbank of Russia (MCX:SBER) Is Trading At A 53.08% Discount

One of the most difficult industry to value is banking, given that they adhere to different rules compared to other companies. … The tiered capital structure is common for banks to abide by, in order to ensure they maintain a sufficient level of cash for their customers.

Simply Wall St -

Have You Considered These Important Risk Metrics For Sberbank of Russia (MCX:SBER)?

A risk Sberbank of Russia (MCX:SBER) faces as a bank is bad loans, also formally known as “credit risk”. … Since the level of risky assets held by Sberbank of Russia impacts the attractiveness of the bank as an investment, I will take you through three metrics that are insightful proxies for risk. … See our latest analysis for Sberbank of Russia

Simply Wall St -

Is Sberbank of Russia's (MCX:SBER) ROE Of 21.79% Sustainable?

Check out our latest analysis for Sberbank of Russia Breaking down Return on Equity Firstly, Return on Equity, or ROE, is simply the percentage of last years’ earning against the book value of shareholders’ equity. … For now, let’s just look at the cost of equity number for Sberbank of Russia, which is 13.41%. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity MISX:SBER Last Perf May 22nd 18 The first component is profit margin, which measures how much of sales is retained after the company pays for all its expenses.

Simply Wall St -

What Value Should You Place On Sberbank of Russia (MCX:SBER)?

Emphasizing elements like book values, along with the return and cost of equity, is suitable for gauging SBER’s true value. … The returns in excess of cost of equity is called excess returns: Excess Return Per Share = (Stable Return On Equity – Cost Of Equity) (Book Value Of Equity Per Share) = (21.96% – 13.41%) * RUB200.17 = RUB17.11 We use this value to calculate the terminal value of the company, which is how much we expect the company to continue to earn every year, forever. … This is a common component of discounted cash flow models: Terminal Value Per Share = Excess Return Per Share / (Cost of Equity – Expected Growth Rate) = RUB17.11 / (13.41% – 7.05%) = RUB269.05 Combining these components gives us SBER's intrinsic value per share: Value Per Share = Book Value of Equity Per Share + Terminal Value Per Share = RUB200.17 + RUB269.05 = RUB469.22 Compared to the current share price of RUB237.8, SBER is , at this time, priced below its intrinsic value.

Simply Wall St -

Three Important Risks For Sberbank of Russia (MCX:SBER) You Should Know

Growth stimulates demand for loans and impacts a borrower’s ability to repay which directly affects the level of risk Sberbank of Russia takes on. … Given that most banks are generally well-below this threshold, Sberbank of Russia faces a much higher level of risk and exhibits below-average bad debt management. … Since Sberbank of Russia’s total deposit to total liabilities is very high at 83.91% which is well-above the prudent level of 50% for banks, Sberbank of Russia may be too cautious with its level of deposits and has plenty of headroom to take on risker forms of liability.Next Steps: Sberbank of Russia has maintained a safe level of deposits against its liabilities.

Simply Wall St -

Is There Now An Opportunity In Sberbank of Russia (MCX:SBER)?

Sberbank of Russia (MISX:SBER) saw a double-digit share price rise of over 10% in the past couple of months on the MISX. … Great news for investors – Sberbank of Russia is still trading at a fairly cheap price. … Sberbank of Russia’s share price also seems relatively stable compared to the rest of the market, as indicated by its low beta.

Simply Wall St -

Sberbank of Russia (MCX:SBER): Will The Growth Last?

Below is a brief commentary on my key takeaways on how market analysts predict Sberbank of Russia's earnings growth trajectory over the next couple of years and whether the future looks even brighter than the past. … See our latest analysis for Sberbank of Russia Market analysts' consensus outlook for next year seems positive, with earnings rising by a robust 14.46%. … This means, we can assume Sberbank of Russia will grow its earnings by 8.14% every year for the next few years.

Simply Wall St -

Company Info

Description

Sberbank of Russia provides corporate and retail banking products and services to individuals, small businesses, corporate clients, and financial institutions. The company accepts fixed-term, settlement, and online deposits; savings certificates; trace and metals accounts; and certificates of deposit. Its loan products include consumer, mortgage, corporate, contract, overdraft, investment, working capital, and business start-up loans; loans for refinancing of loans; loans with bills; trade, lease transaction, development project, and carbon finance; loans to constituent entities and municipal units of the Russia, defense industry companies, and agriculture industry; loans for financing of industrial projects; loans for buying cars, equipment, and real estate; loans for new projects; and interbank lending, guarantee, and loan refinance services. The company also offers debit, credit, social, and corporate cards; and life and health, bank card, endowment and investment life, car, and real estate insurance products; and pension plans. In addition, it provides payment, transfer, asset management, currency exchange, precious metals, remote banking, international business and currency control, cash collection, payroll, global market operation, investment banking, structured products, merchant banking, custody, special depositary, investment funds, cash management, clearing, and safe deposit box services. As of December 31, 2018, the company operated 12 regional head offices; 77 branches; and 14,186 sub-branches. It carries out banking operation in Turkey, Ukraine, Belarus, Kazakhstan, Austria, Switzerland, other countries of Central and Eastern Europe, the United States, the United Kingdom, Cyprus, and internationally, as well as branch office in India, and representative offices in Germany and China. The company was founded in 1841 and is headquartered in Moscow, Russia.

Details
Name: Sberbank of Russia
SBER
Exchange: MISX
Founded: 1841
RUB5,198,264,760,000
21,498,200,000
Website: http://www.sberbank.ru
Address: Sberbank of Russia
19 Vavilova Street,
Moscow,
Moskovskaya obl., 117997,
Russia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
MISX SBER Ordinary Shares Micex - Rts RU RUB 01. Jan 1997
OTCPK AKSJ.F Ordinary Shares Pink Sheets LLC US USD 01. Jan 1997
KAS RU_SBER Ordinary Shares Kazakhstan Stock Exchange KZ KZT 01. Jan 1997
OTCPK SBRC.Y SPON ADR EACH REPR 4 ORD SHS Pink Sheets LLC US USD 02. Apr 2004
MISX SBERP RUB3 PRF(RUB) Micex - Rts RU RUB 16. Jan 1997
DB SBNC SPON ADR EACH REPR 4 ORD SHS Deutsche Boerse AG DE EUR 02. Apr 2004
XTRA SBNC SPON ADR EACH REPR 4 ORD SHS XETRA Trading Platform DE EUR 02. Apr 2004
LSE SBER SPON ADR EACH REPR 4 ORD SHS London Stock Exchange GB USD 02. Apr 2004
WBAG SBER SPON ADR EACH REPR 4 ORD SHS Wiener Boerse AG AT EUR 02. Apr 2004
BATS-CHIXE SBERL SPON ADR EACH REPR 4 ORD SHS BATS 'Chi-X Europe' GB USD 02. Apr 2004
Number of employees
Current staff
Staff numbers
291,297
Sberbank of Russia employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/18 20:40
End of day share price update: 2019/06/18 00:00
Last estimates confirmation: 2019/06/12
Last earnings filing: 2019/05/01
Last earnings reported: 2019/03/31
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.