Executive Summary
Public Joint-Stock Company Federal Grid Company of Unified Energy System operates and manages electricity transmission grid infrastructure of Unified National Electric Grid in Russia. More Details
Rewards
Risk Analysis
Snowflake Analysis
Undervalued with excellent balance sheet and pays a dividend.
Similar Companies
Share Price & News
How has Federal Grid Company of Unified Energy System's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: FEES is less volatile than 75% of Russian stocks over the past 3 months, typically moving +/- 2% a week.
Volatility Over Time: FEES's weekly volatility (2%) has been stable over the past year.
Market Performance
7 Day Return
1.4%
FEES
1.2%
RU Electric Utilities
3.0%
RU Market
1 Year Return
19.8%
FEES
15.1%
RU Electric Utilities
29.3%
RU Market
Return vs Industry: FEES exceeded the Russian Electric Utilities industry which returned 15% over the past year.
Return vs Market: FEES underperformed the Russian Market which returned 28.1% over the past year.
Shareholder returns
| FEES | Industry | Market | |
|---|---|---|---|
| 7 Day | 1.4% | 1.2% | 3.0% |
| 30 Day | 4.1% | 1.9% | 4.1% |
| 90 Day | 1.2% | -2.4% | 8.2% |
| 1 Year | 26.1%19.8% | 20.0%15.1% | 37.5%29.3% |
| 3 Year | 59.7%23.5% | 38.4%18.9% | 66.4%37.3% |
| 5 Year | 206.6%98.8% | 118.5%74.2% | 131.5%75.2% |
Long-Term Price Volatility Vs. Market
How volatile is Federal Grid Company of Unified Energy System's share price compared to the market and industry in the last 5 years?
Simply Wall St News
4 days ago | Simply Wall St
The Returns At Federal Grid Company of Unified Energy System (MCX:FEES) Aren't Growing1 month ago | Simply Wall St
Did You Participate In Any Of Federal Grid Company of Unified Energy System's (MCX:FEES) Fantastic 248% Return ?1 month ago | Simply Wall St
Does Federal Grid Company of Unified Energy System (MCX:FEES) Have A Healthy Balance Sheet?Valuation
Is Federal Grid Company of Unified Energy System undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: FEES (RUB0.22) is trading below our estimate of fair value (RUB0.92)
Significantly Below Fair Value: FEES is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: FEES is good value based on its PE Ratio (4.6x) compared to the RU Electric Utilities industry average (7.6x).
PE vs Market: FEES is good value based on its PE Ratio (4.6x) compared to the Russian market (10.3x).
Price to Earnings Growth Ratio
PEG Ratio: FEES is poor value based on its PEG Ratio (1.1x)
Price to Book Ratio
PB vs Industry: FEES is good value based on its PB Ratio (0.3x) compared to the RU Electric Utilities industry average (0.6x).
Future Growth
How is Federal Grid Company of Unified Energy System forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?
4.4%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: FEES's forecast earnings growth (4.4% per year) is below the savings rate (7.4%).
Earnings vs Market: FEES's earnings (4.4% per year) are forecast to grow slower than the Russian market (19.4% per year).
High Growth Earnings: FEES's earnings are forecast to grow, but not significantly.
Revenue vs Market: FEES's revenue (5.3% per year) is forecast to grow slower than the Russian market (7.7% per year).
High Growth Revenue: FEES's revenue (5.3% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: FEES's Return on Equity is forecast to be low in 3 years time (7.8%).
Past Performance
How has Federal Grid Company of Unified Energy System performed over the past 5 years?
7.0%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: FEES has high quality earnings.
Growing Profit Margin: FEES's current net profit margins (25%) are lower than last year (34.7%).
Past Earnings Growth Analysis
Earnings Trend: FEES's earnings have grown by 7% per year over the past 5 years.
Accelerating Growth: FEES's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: FEES had negative earnings growth (-31.4%) over the past year, making it difficult to compare to the Electric Utilities industry average (1.2%).
Return on Equity
High ROE: FEES's Return on Equity (6.2%) is considered low.
Financial Health
How is Federal Grid Company of Unified Energy System's financial position?
Financial Position Analysis
Short Term Liabilities: FEES's short term assets (RUB114.4B) exceed its short term liabilities (RUB84.2B).
Long Term Liabilities: FEES's short term assets (RUB114.4B) do not cover its long term liabilities (RUB304.9B).
Debt to Equity History and Analysis
Debt Level: FEES's debt to equity ratio (24.1%) is considered satisfactory.
Reducing Debt: FEES's debt to equity ratio has reduced from 45.3% to 24.1% over the past 5 years.
Debt Coverage: FEES's debt is well covered by operating cash flow (52.8%).
Interest Coverage: FEES's interest payments on its debt are well covered by EBIT (20791.3x coverage).
Balance Sheet
Dividend
What is Federal Grid Company of Unified Energy System current dividend yield, its reliability and sustainability?
8.69%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: FEES's dividend (8.69%) is higher than the bottom 25% of dividend payers in the Russian market (3.81%).
High Dividend: FEES's dividend (8.69%) is in the top 25% of dividend payers in the Russian market (7.7%)
Stability and Growth of Payments
Stable Dividend: FEES's dividend payments have been volatile in the past 10 years.
Growing Dividend: FEES's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its low payout ratio (20.2%), FEES's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
2.4yrs
Average board tenure
CEO
Federal Grid Company of Unified Energy System has no CEO, or we have no data on them.
Board Members
Experienced Board: FEES's board of directors are not considered experienced ( 2.4 years average tenure), which suggests a new board.
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Public Joint-Stock Company Federal Grid Company of Unified Energy System's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Public Joint-Stock Company Federal Grid Company of Unified Energy System
- Ticker: FEES
- Exchange: MISX
- Founded: 2002
- Industry: Electric Utilities
- Sector: Utilities
- Market Cap: ₽276.120b
- Shares outstanding: 1.26t
- Website: https://www.fsk-ees.ru
Location
- Public Joint-Stock Company Federal Grid Company of Unified Energy System
- 5A Akademika Chelomeya Street
- Moscow
- 117630
- Russia
Listings
Biography
Public Joint-Stock Company Federal Grid Company of Unified Energy System operates and manages electricity transmission grid infrastructure of Unified National Electric Grid in Russia. The company offers el...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/05/06 19:52 |
| End of Day Share Price | 2021/05/06 00:00 |
| Earnings | 2020/12/31 |
| Annual Earnings | 2020/12/31 |
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.