Executive Summary
Public Joint Stock Company Inter RAO UES operates as a diversified energy holding company in Russia and internationally.
Rewards
Risk Analysis
Earnings are forecast to decline by an average of -1% per year for the next 3 years
Snowflake Analysis
Flawless balance sheet and good value.
Similar Companies
Share Price & News
How has Inter RAO UES's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: IRAO's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
-1.4%
IRAO
0.9%
RU Electric Utilities
0.3%
RU Market
1 Year Return
60.9%
IRAO
44.9%
RU Electric Utilities
22.6%
RU Market
Return vs Industry: IRAO exceeded the Russian Electric Utilities industry which returned 44.9% over the past year.
Return vs Market: IRAO exceeded the Russian Market which returned 22.6% over the past year.
Shareholder returns
| IRAO | Industry | Market | |
|---|---|---|---|
| 7 Day | -1.4% | 0.9% | 0.3% |
| 30 Day | 6.1% | 7.6% | -3.3% |
| 90 Day | 39.2% | 27.9% | 5.3% |
| 1 Year | 68.0%60.9% | 54.2%44.9% | 30.9%22.6% |
| 3 Year | 83.8%63.7% | 31.9%13.2% | 67.1%40.8% |
| 5 Year | 666.3%577.0% | 198.2%139.3% | 138.0%85.6% |
Price Volatility Vs. Market
How volatile is Inter RAO UES's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
The Inter RAO UES (MCX:IRAO) Share Price Is Up 627% And Shareholders Are Delighted3 weeks ago | Simply Wall St
Is Inter RAO UES (MCX:IRAO) A Risky Investment?1 month ago | Simply Wall St
Is There An Opportunity With Public Joint Stock Company Inter RAO UES's (MCX:IRAO) 45% Undervaluation?Valuation
Is Inter RAO UES undervalued compared to its fair value and its price relative to the market?
40.0%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: IRAO (RUB6.35) is trading below our estimate of fair value (RUB10.37)
Significantly Below Fair Value: IRAO is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: IRAO is good value based on its PE Ratio (5.9x) compared to the Electric Utilities industry average (8x).
PE vs Market: IRAO is good value based on its PE Ratio (5.9x) compared to the Russian market (9.2x).
Price to Earnings Growth Ratio
PEG Ratio: IRAO's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: IRAO is overvalued based on its PB Ratio (0.9x) compared to the RU Electric Utilities industry average (0.8x).
Next Steps
Future Growth
How is Inter RAO UES forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?
-1.1%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: IRAO's earnings are forecast to decline over the next 3 years (-1% per year).
Earnings vs Market: IRAO's earnings are forecast to decline over the next 3 years (-1% per year).
High Growth Earnings: IRAO's earnings are forecast to decline over the next 3 years.
Revenue vs Market: IRAO's revenue (1.6% per year) is forecast to grow slower than the Russian market (3.6% per year).
High Growth Revenue: IRAO's revenue (1.6% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: IRAO's Return on Equity is forecast to be low in 3 years time (13%).
Next Steps
Past Performance
How has Inter RAO UES performed over the past 5 years?
30.3%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: IRAO has high quality earnings.
Growing Profit Margin: IRAO's current net profit margins (7.8%) are higher than last year (7.3%).
Past Earnings Growth Analysis
Earnings Trend: IRAO has become profitable over the past 5 years, growing earnings by 30.3% per year.
Accelerating Growth: IRAO's earnings growth over the past year (17.4%) is below its 5-year average (30.3% per year).
Earnings vs Industry: IRAO earnings growth over the past year (17.4%) exceeded the Electric Utilities industry -0.2%.
Return on Equity
High ROE: IRAO's Return on Equity (15.1%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Inter RAO UES's financial position?
Financial Position Analysis
Short Term Liabilities: IRAO's short term assets (RUB375.4B) exceed its short term liabilities (RUB134.9B).
Long Term Liabilities: IRAO's short term assets (RUB375.4B) exceed its long term liabilities (RUB70.0B).
Debt to Equity History and Analysis
Debt Level: IRAO's debt to equity ratio (0.6%) is considered satisfactory.
Reducing Debt: IRAO's debt to equity ratio has reduced from 23.5% to 0.6% over the past 5 years.
Debt Coverage: IRAO's debt is well covered by operating cash flow (3267.7%).
Interest Coverage: IRAO earns more interest than it pays, so coverage of interest payments is not a concern.
Balance Sheet
Inventory Level: IRAO has a high level of physical assets or inventory.
Debt Coverage by Assets: IRAO's debt is covered by short term assets (assets are 121.2x debt).
Next Steps
Dividend
What is Inter RAO UES's current dividend yield, its reliability and sustainability?
2.76%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: IRAO's dividend (2.7%) isn’t notable compared to the bottom 25% of dividend payers in the Russian market (3.03%).
High Dividend: IRAO's dividend (2.7%) is low compared to the top 25% of dividend payers in the Russian market (7.37%).
Stability and Growth of Payments
Stable Dividend: IRAO has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: IRAO's dividend payments have increased, but the company has only paid a dividend for 9 years.
Current Payout to Shareholders
Dividend Coverage: With its low payout ratio (15.8%), IRAO's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: IRAO's dividends in 3 years are forecast to be well covered by earnings (28% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
3.3yrs
Average management tenure
CEO
Boris Kovalchuk (42yo)
Mr. Boris Yuryevich Kovalchuk has been the Chairman of Management Board and Chief Executive Officer at Open Joint-Stock Company INTER RAO UES since 2010 and its Member of Management Board since November 20 ...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman of the Management Board | 0yrs | no data | no data | |
| CFO & Member of the Management Board | 3.3yrs | no data | 0.047% RUB214.3m | |
| Head of Engineering Division & Member of the Management Board | 11.8yrs | no data | 0.047% RUB214.3m | |
| Head of the Operations Division & Member of the Management Board | 9.3yrs | no data | 0.047% RUB214.3m | |
| Head of Procurement Division & Member of Management Board | 3.3yrs | no data | 0.055% RUB252.6m | |
| Head of Innovations | 8.1yrs | no data | 0.047% RUB214.3m | |
| Member of Strategy & Investment Committee | 0yrs | no data | no data | |
| Head of Legal Affairs Division & Member of Management Board | 3.3yrs | no data | 0.047% RUB214.3m | |
| Interim Head of the Trading Block & Member of Management Board | 1.6yrs | no data | no data | |
| Member of the Management Board and Head of Strategy & Investment Division | 1.2yrs | no data | 0.000030% RUB137.2k |
3.3yrs
Average Tenure
42yo
Average Age
Experienced Management: IRAO's management team is considered experienced (3.3 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman of the Management Board | 0yrs | no data | no data | |
| Independent Director | 5.8yrs | ₽3.75m | no data | |
| Chairman of the Board | 0yrs | ₽2.91m | no data | |
| Senior Independent Director | 1.8yrs | ₽4.05m | no data | |
| Non-Executive Director | 4.8yrs | ₽2.85m | no data | |
| Non-Executive Director | 3.7yrs | ₽3.00m | 0.0099% RUB45.5m | |
| Independent Director | 9.7yrs | ₽2.66m | no data | |
| Non-Executive Director | 8.7yrs | ₽2.24m | no data | |
| Deputy Chairman of the Board | 0yrs | ₽2.45m | no data | |
| Non-Executive Director | 5.8yrs | ₽3.00m | no data |
5.8yrs
Average Tenure
52yo
Average Age
Experienced Board: IRAO's board of directors are considered experienced (5.8 years average tenure).
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 Inter RAO UES's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Public Joint Stock Company Inter RAO UES
- Ticker: IRAO
- Exchange: MISX
- Founded: 1997
- Industry: Electric Utilities
- Sector: Utilities
- Market Cap: ₽457.423b
- Shares outstanding: 73.54b
- Website: https://www.interrao.ru
Number of Employees
Location
- Public Joint Stock Company Inter RAO UES
- Building 2
- 27 Bolshaya Pirogovskaya Street
- Moscow
- 119435
- Russia
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| IRAO | MISX (Micex - Rts) | Yes | Ordinary Shares | RU | RUB | Jul 2008 |
Biography
Public Joint Stock Company Inter RAO UES operates as a diversified energy holding company in Russia and internationally. The company operates through Supply in the Russian Federation, Electric Power Generation in the Russian Federation, Thermal Power Generation in the Russian Federation, Trading in the Russian Federation and Europe, Foreign Assets, and Engineering in the Russian Federation segments. It produces, supplies, exports, and imports electricity; and offers engineering services. The company generates electricity through thermal, hydro, wind, and gas sources. It also engages in export of power industry equipment; and management of distribution grids outside Russia. Public Joint Stock Company Inter RAO UES was founded in 1997 and is based in Moscow, Russia.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/02/21 21:58 |
| End of Day Share Price | 2020/02/21 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2018/12/31 |
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.