Public Joint-Stock Company Moscow Exchange MICEX-RTS

MISX:MOEX Stock Report

Mkt Cap: ₽192.3b

We’ve recently updated our valuation analysis.

Moscow Exchange MICEX-RTS Valuation

Is MOEX undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score


Valuation Score 4/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MOEX?

Other financial metrics that can be useful for relative valuation.

MOEX key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ratio0.8x

Price to Earnings Ratio vs Peers

How does MOEX's PE Ratio compare to its peers?

The above table shows the PE ratio for MOEX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average48.5x
DFM Dubai Financial Market P.J.S.C
300803 Beijing Compass Technology Development
1111 Saudi Tadawul Group Holding
MOEX Moscow Exchange MICEX-RTS

Price-To-Earnings vs Peers: MOEX is good value based on its Price-To-Earnings Ratio (6.8x) compared to the peer average (48.5x).

Price to Earnings Ratio vs Industry

How does MOEX's PE Ratio compare vs other companies in the European Capital Markets Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a12.0%

Price-To-Earnings vs Industry: MOEX is good value based on its Price-To-Earnings Ratio (6.8x) compared to the European Capital Markets industry average (13.3x)

Price to Earnings Ratio vs Fair Ratio

What is MOEX's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MOEX PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio6.8x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate MOEX's Price-To-Earnings Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of MOEX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MOEX (RUB85.2) is trading below our estimate of fair value (RUB110.3)

Significantly Below Fair Value: MOEX is trading below fair value by more than 20%.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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