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Public Stock Company VSMPO-AVISMA

MISX:VSMO
Snowflake Description

Adequate balance sheet unattractive dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
VSMO
MISX
RUB197B
Market Cap
  1. Home
  2. RU
  3. Materials
Company description

Public Stock Company VSMPO-AVISMA Corporation manufactures and sells titanium products in Russia, Europe, North America, Asia, and other CIS countries. The last earnings update was 231 days ago. More info.


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VSMO Share Price and Events
7 Day Returns
3.1%
MISX:VSMO
0.4%
RU Metals and Mining
-0.9%
RU Market
1 Year Returns
0.4%
MISX:VSMO
0.2%
RU Metals and Mining
9.2%
RU Market
VSMO Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Public Stock Company VSMPO-AVISMA (VSMO) 3.1% 4.9% 7.5% 0.4% 36.8% 134.2%
RU Metals and Mining 0.4% -0.6% -4.1% 0.2% 40.1% 203.3%
RU Market -0.9% 2.9% 4.3% 9.2% 31.9% 91.7%
1 Year Return vs Industry and Market
  • VSMO underperformed the Market in Russian Federation which returned 9.2% over the past year.
Price Volatility
VSMO
Industry
5yr Volatility vs Market

VSMO Value

 Is Public Stock Company VSMPO-AVISMA 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 Public Stock Company VSMPO-AVISMA 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 Public Stock Company VSMPO-AVISMA.

MISX:VSMO Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 21.4%
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:VSMO
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year RU Govt Bond Rate 8.4%
Equity Risk Premium S&P Global 9.4%
Metals and Mining Unlevered Beta Simply Wall St/ S&P Global 1.13
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.135 (1 + (1- 20%) (45.87%))
1.369
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.37
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 8.44% + (1.369 * 9.43%)
21.35%

Discounted Cash Flow Calculation for MISX:VSMO using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Public Stock Company VSMPO-AVISMA is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

MISX:VSMO DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (RUB, Millions) Source Present Value
Discounted (@ 21.35%)
2019 14,121.27 Est @ -9.36% 11,636.44
2020 13,553.75 Est @ -4.02% 9,203.48
2021 13,515.63 Est @ -0.28% 7,562.67
2022 13,831.24 Est @ 2.34% 6,377.44
2023 14,407.53 Est @ 4.17% 5,474.21
2024 15,192.54 Est @ 5.45% 4,756.73
2025 16,156.66 Est @ 6.35% 4,168.47
2026 17,283.46 Est @ 6.97% 3,674.53
2027 18,564.85 Est @ 7.41% 3,252.44
2028 19,998.39 Est @ 7.72% 2,887.08
Present value of next 10 years cash flows RUB58,993.49
MISX:VSMO DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= RUB19,998.39 × (1 + 8.44%) ÷ (21.35% – 8.44%)
RUB167,929.88
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= RUB167,929.88 ÷ (1 + 21.35%)10
RUB24,243.29
MISX:VSMO Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= RUB58,993.49 + RUB24,243.29
RUB83,236.78
Equity Value per Share
(RUB)
= Total value / Shares Outstanding
= RUB83,236.78 / 11.52
RUB7223.03
MISX:VSMO Discount to Share Price
Calculation Result
Value per share (RUB) From above. RUB7,223.03
Current discount Discount to share price of RUB17,100.00
= -1 x (RUB17,100.00 - RUB7,223.03) / RUB7,223.03
-136.7%

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

  • The current share price of Public Stock Company VSMPO-AVISMA 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 Public Stock Company VSMPO-AVISMA's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Public Stock Company VSMPO-AVISMA's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
MISX:VSMO PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-06-30) in RUB RUB1,377.56
MISX:VSMO Share Price ** MISX (2019-04-17) in RUB RUB17100
Russian Federation Metals and Mining Industry PE Ratio Median Figure of 19 Publicly-Listed Metals and Mining Companies 4.54x
Russian Federation Market PE Ratio Median Figure of 130 Publicly-Listed Companies 7.38x

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

** Primary Listing of Public Stock Company VSMPO-AVISMA.

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

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

= 17100 ÷ 1,377.56

12.41x

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

  • Public Stock Company VSMPO-AVISMA is overvalued based on earnings compared to the RU Metals and Mining industry average.
  • Public Stock Company VSMPO-AVISMA is overvalued based on earnings compared to the Russian Federation market.
Price based on expected Growth
Does Public Stock Company VSMPO-AVISMA's expected growth come at a high price?
Raw Data
MISX:VSMO PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.41x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
-0.5%per year
Europe Metals and Mining Industry PEG Ratio Median Figure of 61 Publicly-Listed Metals and Mining Companies 0.67x
Russian Federation Market PEG Ratio Median Figure of 33 Publicly-Listed Companies 0.51x

*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 Public Stock Company VSMPO-AVISMA, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Public Stock Company VSMPO-AVISMA's assets?
Raw Data
MISX:VSMO PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-06-30) in RUB RUB14,768.26
MISX:VSMO Share Price * MISX (2019-04-17) in RUB RUB17100
Russian Federation Metals and Mining Industry PB Ratio Median Figure of 20 Publicly-Listed Metals and Mining Companies 0.42x
Russian Federation Market PB Ratio Median Figure of 150 Publicly-Listed Companies 0.82x
MISX:VSMO PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 17100 ÷ 14,768.26

1.16x

* Primary Listing of Public Stock Company VSMPO-AVISMA.

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

  • Public Stock Company VSMPO-AVISMA is overvalued based on assets compared to the RU Metals and Mining industry average.
X
Value checks
We assess Public Stock Company VSMPO-AVISMA'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 Metals and Mining 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 Metals and Mining industry average (and greater than 0)? (1 check)
  5. Public Stock Company VSMPO-AVISMA 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.

VSMO Future Performance

 How is Public Stock Company VSMPO-AVISMA expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Public Stock Company VSMPO-AVISMA, 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
-0.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Public Stock Company VSMPO-AVISMA expected to grow at an attractive rate?
  • Public Stock Company VSMPO-AVISMA's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 8.4%.
Growth vs Market Checks
  • Public Stock Company VSMPO-AVISMA's earnings are expected to decrease over the next 1-3 years, this is below the Russian Federation market average.
  • Unable to compare Public Stock Company VSMPO-AVISMA's revenue growth to the Russian Federation market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
MISX:VSMO Future Growth Rates Data Sources
Data Point Source Value (per year)
MISX:VSMO Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts -0.5%
Russian Federation Metals and Mining Industry Earnings Growth Rate Market Cap Weighted Average -1.9%
Europe Metals and Mining Industry Revenue Growth Rate Market Cap Weighted Average 0.8%
Russian Federation Market Earnings Growth Rate Market Cap Weighted Average 4%
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:VSMO Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (9 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:VSMO Past Financials Data
Date (Data in RUB Millions) Revenue Cash Flow Net Income *
2018-06-30 90,511 24,883 15,875
2018-03-31 89,245 27,783 14,361
2017-12-31 87,980 30,683 12,847
2017-09-30 87,405 32,741 15,520
2017-06-30 86,831 35,051 19,017
2017-03-31 88,119 35,395 22,302
2016-12-31 89,408 35,739 25,587
2016-09-30 95,097 24,707
2016-06-30 87,485 31,882 19,617
2016-03-31 83,190 29,927 18,208
2015-12-31 78,894 27,972 16,799
2015-09-30 75,103 11,716

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Public Stock Company VSMPO-AVISMA's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Unable to determine if Public Stock Company VSMPO-AVISMA 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:VSMO Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (9 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Public Stock Company VSMPO-AVISMA Company Filings, last reported 9 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

MISX:VSMO Past Financials Data
Date (Data in RUB Millions) EPS *
2018-06-30 1,377.56
2018-03-31 1,246.20
2017-12-31 1,114.84
2017-09-30 1,346.75
2017-06-30 1,650.23
2017-03-31 1,935.31
2016-12-31 2,220.39
2016-09-30 2,143.98
2016-06-30 1,702.25
2016-03-31 1,583.44
2015-12-31 1,464.11
2015-09-30

*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 Public Stock Company VSMPO-AVISMA will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Public Stock Company VSMPO-AVISMA'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.
Public Stock Company VSMPO-AVISMA 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.

VSMO Past Performance

  How has Public Stock Company VSMPO-AVISMA performed over the past 5 years?

  • Public Stock Company VSMPO-AVISMA's last earnings update was 231 days ago.
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 Public Stock Company VSMPO-AVISMA's growth in the last year to its industry (Metals and Mining).
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.
  • Public Stock Company VSMPO-AVISMA's year on year earnings growth rate has been positive over the past 5 years.
  • Public Stock Company VSMPO-AVISMA's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Public Stock Company VSMPO-AVISMA's 1-year earnings growth is negative, it can't be compared to the RU Metals and Mining industry average.
Earnings and Revenue History
Public Stock Company VSMPO-AVISMA'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 Public Stock Company VSMPO-AVISMA Company Filings, last reported 9 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

MISX:VSMO Past Revenue, Cash Flow and Net Income Data
Date (Data in RUB Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-06-30 90,510.96 15,874.68 13,444.93
2018-03-31 89,245.45 14,360.94 13,381.47
2017-12-31 87,979.95 12,847.19 13,318.01
2017-09-30 87,405.32 15,519.67 13,798.33
2017-06-30 86,830.70 19,016.90 13,389.39
2017-03-31 88,119.41 22,302.11 13,316.94
2016-12-31 89,408.12 25,587.32 13,244.48
2016-09-30 95,097.11 24,706.79 21,798.71
2016-06-30 87,484.91 19,617.07 12,479.25
2016-03-31 83,189.51 18,208.02 12,332.32
2015-12-31 78,894.12 16,798.98 12,185.40
2015-09-30 75,102.77 11,716.46 10,095.46
2015-06-30 70,121.01 11,207.44 11,487.30
2015-03-31 66,015.12 8,585.27 10,791.38
2014-12-31 61,909.22 5,963.10 10,095.46
2014-09-30 52,182.35 8,500.28 2,074.47
2014-06-30 56,947.10 10,673.15 8,445.38
2014-03-31 54,146.85 9,802.81 8,098.91
2013-12-31 51,346.61 8,932.47 7,752.44
2012-12-31 43,994.31 6,260.83 8,353.35

*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.
  • Public Stock Company VSMPO-AVISMA has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Public Stock Company VSMPO-AVISMA used its assets less efficiently than the RU Metals and Mining industry average last year based on Return on Assets.
  • Public Stock Company VSMPO-AVISMA's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Public Stock Company VSMPO-AVISMA'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 Metals and Mining 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.
Public Stock Company VSMPO-AVISMA has a total score of 1/6, 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.

VSMO Health

 How is Public Stock Company VSMPO-AVISMA's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Public Stock Company VSMPO-AVISMA's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Public Stock Company VSMPO-AVISMA is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Public Stock Company VSMPO-AVISMA's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Public Stock Company VSMPO-AVISMA'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.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.1x debt.
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 Public Stock Company VSMPO-AVISMA Company Filings, last reported 9 months ago.

MISX:VSMO Past Debt and Equity Data
Date (Data in RUB Millions) Total Equity Total Debt Cash & Short Term Investments
2018-06-30 170,380.93 90,282.87 45,653.85
2018-03-31 170,380.93 90,282.87 45,653.85
2017-12-31 173,430.15 80,683.65 52,710.04
2017-09-30 173,430.15 80,683.65 52,710.04
2017-06-30 143,052.80 72,281.30 50,738.16
2017-03-31 143,052.80 72,281.30 50,738.16
2016-12-31 150,211.72 62,489.35 40,083.37
2016-09-30 150,211.72 62,489.35 40,083.37
2016-06-30 131,392.74 64,323.33 35,777.39
2016-03-31 131,392.74 64,323.33 35,777.39
2015-12-31 135,260.35 80,887.48 38,046.05
2015-09-30 52,595.42 61,068.95 30,064.39
2015-06-30 52,595.42 61,068.95 30,064.39
2015-03-31 52,595.42 61,068.95 30,064.39
2014-12-31 49,671.03 62,198.10 28,142.59
2014-09-30
2014-06-30 48,863.57 33,776.69 17,137.05
2014-03-31 48,863.57 33,776.69 17,137.05
2013-12-31 49,432.88 32,820.16 16,580.25
2012-12-31 43,790.14 25,969.52 7,873.79
  • Public Stock Company VSMPO-AVISMA's level of debt (53%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (63.1% vs 53% today).
  • Debt is well covered by operating cash flow (27.6%, greater than 20% of total debt).
  • Public Stock Company VSMPO-AVISMA earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Public Stock Company VSMPO-AVISMA'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. Public Stock Company VSMPO-AVISMA 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.

VSMO Dividends

 What is Public Stock Company VSMPO-AVISMA'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
9.63%
Current annual income from Public Stock Company VSMPO-AVISMA dividends.
If you bought RUB2,000 of Public Stock Company VSMPO-AVISMA shares you are expected to receive RUB193 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?
  • Public Stock Company VSMPO-AVISMA's pays a higher dividend yield than the bottom 25% of dividend payers in Russian Federation (3.06%).
  • Public Stock Company VSMPO-AVISMA's dividend is above the markets top 25% of dividend payers in Russian Federation (9.47%).
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:VSMO 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
Europe Metals and Mining Industry Average Dividend Yield Market Cap Weighted Average of 65 Stocks 5.7%
Russian Federation Market Average Dividend Yield Market Cap Weighted Average of 74 Stocks 6.5%
Russian Federation Minimum Threshold Dividend Yield 10th Percentile 1.8%
Russian Federation Bottom 25% Dividend Yield 25th Percentile 3.1%
Russian Federation Top 25% Dividend Yield 75th Percentile 9.5%

Industry and Market average data is calculated daily.

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

MISX:VSMO Past Annualized Dividends Data
Date (Data in RUB) Dividend per share (annual) Avg. Yield (%)
2018-10-04 1,646.450 10.288
2018-04-16 1,653.130 9.893
2017-09-07 2,062.680 12.087
2017-04-18 2,116.000 13.601
2016-08-23 1,274.220 9.262
2016-04-15 916.440 7.513
2015-11-13 1,576.000 12.752
2015-08-13 1,576.000 12.975
2015-05-07 831.070 8.994
2014-05-07 533.910 6.673
2013-07-19 279.830 4.133
2011-01-27 1.363 0.033
2010-02-16 21.407 0.712
2010-02-10 23.140 0.804

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

  • Public Stock Company VSMPO-AVISMA 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 Public Stock Company VSMPO-AVISMA only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Public Stock Company VSMPO-AVISMA's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.8x 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 Public Stock Company VSMPO-AVISMA's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.8%) - 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 Public Stock Company VSMPO-AVISMA afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Public Stock Company VSMPO-AVISMA 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.

VSMO Management

 What is the CEO of Public Stock Company VSMPO-AVISMA'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
Voevodin Viktorovich
AGE 43
TENURE AS CEO 9.8 years
CEO Bio

Mr. Voevodin Mikhail Viktorovich has been the Chief Executive Officer of Public Stock Company VSMPO-AVISMA Corporation since July 13, 2009 and its General Director since July 13, 2015. Mr. Viktorovich served as the President of Public Stock Company VSMPO-AVISMA Corporation since March 2009. Mr. Viktorovich has been working in Prominvest since 2002 and has been its Executive Director since 2005. He has been a Director of Public Stock Company VSMPO-AVISMA Corporation since November 2006. He is an Economist and graduated from the academy named for G. V. Plehanov and diplomatic academy of Ministry of Foreign Affairs (international economic contacts).

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

Voevodin Viktorovich

TITLE
CEO, General Director & Director
AGE
43
TENURE
9.8 yrs

Shelkov Evgenyevich

TITLE
Vice Chairman and Vice Chairman of Metal Supply & Sales
TENURE
10.8 yrs

Alexey Mindlin

TITLE
Deputy Director General of Economics & Finance

Dmitri Sannikov

TITLE
Chief Accountant

Igor Levin

TITLE
Deputy Director General of Science & Technology
AGE
68

Sergey Chuprunov

TITLE
Chief of Administration Officer

Artem Kislichenko

TITLE
Director of Legal Matters

Marina Voronkova

TITLE
Director of Public Relations & Regional Projects

Vyacheslav Bresht

TITLE
Executive Vice President of Sales & Marketing
AGE
65

Serey Lednov

TITLE
Director of Business Development
Board of Directors Tenure

Average tenure and age of the Public Stock Company VSMPO-AVISMA board of directors in years:

7.7
Average Tenure
50
Average Age
  • The tenure for the Public Stock Company VSMPO-AVISMA board of directors is about average.
Board of Directors

Sergey Chemezov

TITLE
Chairman
AGE
66
TENURE
13.3 yrs

Voevodin Viktorovich

TITLE
CEO, General Director & Director
AGE
43
TENURE
12.4 yrs

Shelkov Evgenyevich

TITLE
Vice Chairman and Vice Chairman of Metal Supply & Sales

Vladislav Tetyukhin

TITLE
Director
AGE
86

Andrey Zokin

TITLE
Director
AGE
37

Kamenskoy Aleksandrovich

TITLE
Director
AGE
50
TENURE
2.9 yrs

Dmitry Lelikov

TITLE
Director
TENURE
1.9 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 Public Stock Company VSMPO-AVISMA'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. Public Stock Company VSMPO-AVISMA 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.

VSMO News

Simply Wall St News

Is Public Stock Company VSMPO-AVISMA Corporation's (MCX:VSMO) ROE Of 9.3% Concerning?

To keep the lesson grounded in practicality, we'll use ROE to better understand Public Stock Company VSMPO-AVISMA Corporation (MCX:VSMO). … Public Stock Company VSMPO-AVISMA has a ROE of 9.3%, based on the last twelve months. … One way to conceptualize this, is that for each RUB1 of shareholders' equity it has, the company made RUB0.093 in profit.

Simply Wall St -

What Does Public Stock Company VSMPO-AVISMA Corporation's (MCX:VSMO) PE Ratio Tell You?

Public Stock Company VSMPO-AVISMA Corporation (MCX:VSMO) is currently trading at a trailing P/E of 14.5x, which is higher than the industry average of 5.5x. … While VSMO might seem like a stock to avoid or sell if you own it, it is important to understand the assumptions behind the P/E ratio before you make any investment decisions. … View our latest analysis for Public Stock Company VSMPO-AVISMA

Simply Wall St -

Is Public Stock Company VSMPO-AVISMA Corporation's (MCX:VSMO) Balance Sheet Strong Enough To Weather A Storm?

Small-cap and large-cap companies receive a lot of attention from investors, but mid-cap stocks like Public Stock Company VSMPO-AVISMA Corporation (MCX:VSMO), with a market cap of RUруб188.88b, are often out of the spotlight. … Remember this is a very top-level look that focuses exclusively on financial health, so I recommend a deeper analysis. … Check out our latest analysis for Public Stock Company VSMPO-AVISMA

Simply Wall St -

Who Are The Major Shareholders Of Public Stock Company VSMPO-AVISMA Corporation (MCX:VSMO)?

I am going to take a deep dive into Public Stock Company VSMPO-AVISMA Corporation’s (MISX:VSMO) most recent ownership structure, not a frequent subject of discussion among individual investors. … View our latest analysis for Public Stock Company VSMPO-AVISMA MISX:VSMO Ownership_summary May 11th 18 Institutional Ownership Institutional investors typically buy and sell shares in large magnitudes which can significantly sway the share price, especially when there are relatively small amounts of shares available on the market to trade. … General Public Ownership With 8.49% ownership, the general public are also an important ownership class in VSMO.

Simply Wall St -

Is Public Stock Company VSMPO-AVISMA Corporation (MCX:VSMO) A Sell At Its Current PE Ratio?

Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for VSMO Price per share = RUB17230 Earnings per share = RUB1721.797 ∴ Price-Earnings Ratio = RUB17230 ÷ RUB1721.797 = 10x On its own, the P/E ratio doesn’t tell you much; however, it becomes extremely useful when you compare it with other similar companies. … For example, if you inadvertently compared riskier firms with VSMO, then investors would naturally value VSMO at a higher price since it is a less risky investment. … Similarly, if you accidentally compared lower growth firms with VSMO, investors would also value VSMO at a higher price since it is a higher growth investment.

Simply Wall St -

What Investors Should Know About Public Stock Company VSMPO-AVISMA Corporation's (MCX:VSMO) Financial Strength

Check out our latest analysis for Public Stock Company VSMPO-AVISMA Does VSMO generate an acceptable amount of cash through operations? … Additionally, VSMO has generated cash from operations of RUРУБ35.74B in the last twelve months, leading to an operating cash to total debt ratio of 57.19%, meaning that VSMO’s operating cash is sufficient to cover its debt. … We can test if VSMO’s debt levels are sustainable by measuring interest payments against earnings of a company.

Simply Wall St -

With An ROE Of 13.91%, Has Public Stock Company VSMPO-AVISMA Corporation's (MCX:VSMO) Management Done Well?

Public Stock Company VSMPO-AVISMA Corporation’s (MISX:VSMO) most recent return on equity was a substandard 13.91% relative to its industry performance of 24.78% over the past year. … Check out our latest analysis for Public Stock Company VSMPO-AVISMA Peeling the layers of ROE – trisecting a company’s profitability Return on Equity (ROE) weighs Public Stock Company VSMPO-AVISMA’s profit against the level of its shareholders’ equity. … Return on Equity = Net Profit ÷ Shareholders Equity ROE is measured against cost of equity in order to determine the efficiency of Public Stock Company VSMPO-AVISMA’s equity capital deployed.

Simply Wall St -

Has Public Stock Company VSMPO-AVISMA Corporation's (MCX:VSMO) Earnings Momentum Changed Recently?

Understanding how Public Stock Company VSMPO-AVISMA Corporation (MISX:VSMO) is performing as a company requires looking at more than just a years' earnings. … Today I will run you through a basic sense check to gain perspective on how Public Stock Company VSMPO-AVISMA is doing by comparing its latest earnings with its long-term trend as well as the performance of its metals and mining industry peers. … For Public Stock Company VSMPO-AVISMA, its most recent trailing-twelve-month earnings is RUРУБ19.84B, which, relative to the prior year's level, Given that these values are somewhat short-term, I have computed an annualized five-year value for VSMO's earnings, which stands at RUРУБ13.67B This means that, on average, Public Stock Company VSMPO-AVISMA has been able to increase its earnings over the last few years.

Simply Wall St -

VSMO Company Info

Description

Public Stock Company VSMPO-AVISMA Corporation manufactures and sells titanium products in Russia, Europe, North America, Asia, and other CIS countries. The company produces titanium sponge, which is used in the production of titanium products; titanium melted and mill products; and forgings and press forming for aerospace, industrial, and other applications. It also provides ferrotitanium, aluminum extrusions, and specialty steel mill products and forgings. The company was formerly known as Verkhnesaldinskoye Metallurgicheskoe Proizvodstvennoe Obyedinenie and changed its name to Public Stock Company VSMPO-AVISMA Corporation in January 2005. Public Stock Company VSMPO-AVISMA Corporation was founded in 1933 and is based in Verkhnyaya Salda, Russia.

Details
Name: Public Stock Company VSMPO-AVISMA Corporation
VSMO
Exchange: MISX
Founded: 1933
RUB196,826,521,080
11,523,801
Website: http://www.vsmpo.ru
Address: Public Stock Company VSMPO-AVISMA Corporation
Parkovaya Street 1,
Verkhnyaya Salda,
Sverdlovskaya obl., 624760,
Russia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
MISX VSMO Ordinary Shares Micex - Rts RU RUB 15. Jan 1996
Number of employees
Current staff
Staff numbers
0
Public Stock Company VSMPO-AVISMA employees.
Industry
Diversified Metals and Mining
Materials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/17 22:14
End of day share price update: 2019/04/17 00:00
Last earnings filing: 2018/08/29
Last earnings reported: 2018/06/30
Last annual earnings reported: 2017/12/31


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.