Public Joint Stock Company Magnitogorsk Iron & Steel Works

MISX:MAGN Stock Report

Market Cap: ₽352.0b

Magnitogorsk Iron & Steel Works Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: MAGN (RUB31.5) is trading below our estimate of fair value (RUB169.66)

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


Key Valuation Metric

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

Key metric: As MAGN is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for MAGN. This is calculated by dividing MAGN's market cap by their current earnings.
What is MAGN's PE Ratio?
PE Ratio1.9x
EarningsUS$3.12b
Market CapUS$5.80b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for MAGN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average10x
CHMF Severstal
2.8xn/a₽688.1b
RASP Raspadskaya
2.4xn/a₽198.1b
AMEZ Ashinskiy metallurgical works
0.9xn/a₽10.5b
BLNG Belon
33.9xn/a₽11.5b
MAGN Magnitogorsk Iron & Steel Works
1.9xn/a₽352.0b

Price-To-Earnings vs Peers: MAGN is good value based on its Price-To-Earnings Ratio (1.9x) compared to the peer average (10x).


Price to Earnings Ratio vs Industry

How does MAGN's PE Ratio compare vs other companies in the European Metals and Mining Industry?

15 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.11.8x28.3%
MAGN Magnitogorsk Iron & Steel Works
1.9xn/aUS$5.80b
MAGN 1.9xIndustry Avg. 11.8xNo. of Companies15PE0816243240+
15 CompaniesEstimated GrowthMarket Cap
Industry Avg.11.8x28.3%
MAGN Magnitogorsk Iron & Steel Works
1.9xn/aUS$5.80b
No more companies

Price-To-Earnings vs Industry: MAGN is good value based on its Price-To-Earnings Ratio (1.9x) compared to the European Metals and Mining industry average (11.8x).


Price to Earnings Ratio vs Fair Ratio

What is MAGN'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.

MAGN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio1.9x
Fair PE Ration/a

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


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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