Executive Summary
Public Joint Stock Company Inter RAO UES operates as a diversified energy holding company in Russia and internationally. More Details
Rewards
Risk Analysis
Earnings are forecast to decline by an average of 2.2% 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 is not significantly more volatile than the rest of Russian stocks over the past 3 months, typically moving +/- 4% a week.
Volatility Over Time: IRAO's weekly volatility (4%) has been stable over the past year.
Market Performance
7 Day Return
0.8%
IRAO
1.8%
RU Electric Utilities
2.1%
RU Market
1 Year Return
17.1%
IRAO
16.6%
RU Electric Utilities
-3.5%
RU Market
Return vs Industry: IRAO matched the Russian Electric Utilities industry which returned 16.6% over the past year.
Return vs Market: IRAO exceeded the Russian Market which returned -3.5% over the past year.
Shareholder returns
| IRAO | Industry | Market | |
|---|---|---|---|
| 7 Day | 0.8% | 1.8% | 2.1% |
| 30 Day | 4.2% | 6.7% | 12.7% |
| 90 Day | -1.5% | 3.4% | 2.5% |
| 1 Year | 21.7%17.1% | 22.9%16.6% | 3.2%-3.5% |
| 3 Year | 56.9%39.9% | 36.2%17.2% | 51.1%25.3% |
| 5 Year | 445.7%364.0% | 202.8%139.7% | 112.0%61.8% |
Long-Term 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
5 days ago | Simply Wall St
Are Investors Undervaluing Public Joint Stock Company Inter RAO UES (MCX:IRAO) By 27%?1 month ago | Simply Wall St
Do Institutions Own Public Joint Stock Company Inter RAO UES (MCX:IRAO) Shares?1 month ago | Simply Wall St
Is Inter RAO UES (MCX:IRAO) Using Too Much Debt?Valuation
Is Inter RAO UES undervalued compared to its fair value and its price relative to the market?
26.6%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: IRAO (RUB5.22) is trading below our estimate of fair value (RUB7.11)
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 (5.1x) compared to the RU Electric Utilities industry average (7.4x).
PE vs Market: IRAO is good value based on its PE Ratio (5.1x) compared to the Russian market (11x).
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's PB Ratio (0.6x) is in line with the RU Electric Utilities industry average.
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?
-2.2%
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 (-2.2% per year).
Earnings vs Market: IRAO's earnings are forecast to decline over the next 3 years (-2.2% per year).
High Growth Earnings: IRAO's earnings are forecast to decline over the next 3 years.
Revenue vs Market: IRAO's revenue (3% per year) is forecast to grow slower than the Russian market (8.4% per year).
High Growth Revenue: IRAO's revenue (3% 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 (10.2%).
Next Steps
Past Performance
How has Inter RAO UES performed over the past 5 years?
17.8%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: IRAO has high quality earnings.
Growing Profit Margin: IRAO's current net profit margins (7.5%) are lower than last year (7.8%).
Past Earnings Growth Analysis
Earnings Trend: IRAO's earnings have grown by 17.8% per year over the past 5 years.
Accelerating Growth: IRAO's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: IRAO had negative earnings growth (-6.6%) over the past year, making it difficult to compare to the Electric Utilities industry average (-17.3%).
Return on Equity
High ROE: IRAO's Return on Equity (12.4%) is considered low.
Next Steps
Financial Health
How is Inter RAO UES's financial position?
Financial Position Analysis
Short Term Liabilities: IRAO's short term assets (RUB401.6B) exceed its short term liabilities (RUB103.9B).
Long Term Liabilities: IRAO's short term assets (RUB401.6B) exceed its long term liabilities (RUB106.4B).
Debt to Equity History and Analysis
Debt Level: IRAO's debt to equity ratio (0.5%) is considered satisfactory.
Reducing Debt: IRAO's debt to equity ratio has reduced from 25.8% to 0.5% over the past 5 years.
Debt Coverage: IRAO's debt is well covered by operating cash flow (2929%).
Interest Coverage: IRAO earns more interest than it pays, so coverage of interest payments is not a concern.
Balance Sheet
Next Steps
Dividend
What is Inter RAO UES current dividend yield, its reliability and sustainability?
3.76%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: IRAO's dividend (3.76%) isn’t notable compared to the bottom 25% of dividend payers in the Russian market (3.94%).
High Dividend: IRAO's dividend (3.76%) is low compared to the top 25% of dividend payers in the Russian market (8.06%).
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 (19.4%), 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 (27.4% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
4.0yrs
Average management tenure
CEO
Boris Kovalchuk (43 yo)
no data
Tenure
Mr. Boris Yuryevich Kovalchuk has been General Director at Public Joint Stock Company Inter RAO UES since June 26, 2020. Mr. Kovalchuk has been the Chairman of Management Board and Chief Executive Officer ...
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman of the Management Board | no data | no data | no data | |
| CFO & Member of the Management Board | 4.08yrs | no data | 0.047% RUB 180.4m | |
| Head of Engineering Division & Member of the Management Board | 12.5yrs | no data | 0.047% RUB 180.4m | |
| Head of the Operations Division & Member of the Management Board | 10.08yrs | no data | 0.047% RUB 180.4m | |
| Head of Procurement Division & Member of Management Board | 4yrs | no data | 0.051% RUB 196.2m | |
| Head of Innovations | 8.83yrs | no data | 0.047% RUB 180.4m | |
| Member of Strategy & Investment Committee | no data | no data | no data | |
| Head of Legal Affairs Division & Member of Management Board | 4yrs | no data | 0.047% RUB 180.4m | |
| Interim Head of the Trading Block & Member of Management Board | 2.33yrs | no data | 0% RUB 0 | |
| Member of the Management Board and Head of Strategy & Investment Division | 1.92yrs | no data | 0.000030% RUB 115.5k | |
| Chief Accountant | no data | no data | no data | |
| Head of Investor Relations | no data | no data | no data |
4.0yrs
Average Tenure
43yo
Average Age
Experienced Management: IRAO's management team is considered experienced (4 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman of the Management Board | no data | no data | no data | |
| Secretary | 0.50yr | no data | no data | |
| Independent Director | 6.5yrs | ₽6.13m | no data | |
| Chairman of the Board | no data | ₽4.54m | no data | |
| Independent Director | no data | ₽7.29m | no data | |
| Non-Executive Director | 5.5yrs | ₽4.28m | no data | |
| Non-Executive Director | 4.42yrs | ₽5.22m | 0.0099% RUB 38.3m | |
| Independent Director | 10.42yrs | ₽5.22m | no data | |
| Non-Executive Director | 9.42yrs | ₽3.97m | no data | |
| Deputy Chairman of the Board | no data | ₽2.45m | no data | |
| Non-Executive Director | 6.5yrs | ₽4.59m | no data | |
| Senior Independent Director | 0.50yr | ₽5.97m | no data |
6.5yrs
Average Tenure
51yo
Average Age
Experienced Board: IRAO's board of directors are considered experienced (6.5 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: ₽384.985b
- 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 Genera...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/11/27 18:10 |
| End of Day Share Price | 2020/11/27 00:00 |
| Earnings | 2020/09/30 |
| Annual Earnings | 2019/12/31 |
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.