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Interregional Distribution Grid Company of Centre

MISX:MRKC
Snowflake Description

Undervalued with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MRKC
MISX
RUB13B
Market Cap
  1. Home
  2. RU
  3. Utilities
Company description

Interregional Distribution Grid Company of Centre, Public Joint Stock Company operates as an electric grid company of Russia. The last earnings update was 30 days ago. More info.


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MRKC Share Price and Events
7 Day Returns
-0.6%
MISX:MRKC
1.1%
RU Electric Utilities
0.2%
RU Market
1 Year Returns
-11.4%
MISX:MRKC
-4.7%
RU Electric Utilities
8%
RU Market
MRKC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Interregional Distribution Grid Company of Centre (MRKC) -0.6% 9.6% 6.3% -11.4% 23.7% 71.5%
RU Electric Utilities 1.1% 2.2% 5.3% -4.7% 38.1% 101.4%
RU Market 0.2% 1.7% 3.1% 8% 30.8% 97.1%
1 Year Return vs Industry and Market
  • MRKC underperformed the Electric Utilities industry which returned -4.7% over the past year.
  • MRKC underperformed the Market in Russian Federation which returned 8% over the past year.
Price Volatility
MRKC
Industry
5yr Volatility vs Market

Value

 Is Interregional Distribution Grid Company of Centre 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 Interregional Distribution Grid Company of Centre 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 Interregional Distribution Grid Company of Centre.

MISX:MRKC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 16.7%
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:MRKC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year RU Govt Bond Rate 8.4%
Equity Risk Premium S&P Global 9.4%
Electric Utilities Unlevered Beta Simply Wall St/ S&P Global 0.24
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.242 (1 + (1- 20%) (299.9%))
0.88
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.88
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 8.44% + (0.88 * 9.43%)
16.74%

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

The calculations below outline how an intrinsic value for Interregional Distribution Grid Company of Centre 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:MRKC DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (RUB, Millions) Source Present Value
Discounted (@ 16.74%)
2019 3,897.81 Analyst x1 3,338.93
2020 4,549.90 Analyst x1 3,338.67
2021 4,517.98 Analyst x1 2,839.89
2022 4,865.04 Analyst x1 2,619.57
2023 5,133.26 Analyst x1 2,367.68
2024 5,421.43 Est @ 5.61% 2,142.05
2025 5,771.75 Est @ 6.46% 1,953.48
2026 6,178.96 Est @ 7.06% 1,791.44
2027 6,640.56 Est @ 7.47% 1,649.22
2028 7,155.97 Est @ 7.76% 1,522.39
Present value of next 10 years cash flows RUB23,563.30
MISX:MRKC DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= RUB7,155.97 × (1 + 8.44%) ÷ (16.74% – 8.44%)
RUB93,509.83
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= RUB93,509.83 ÷ (1 + 16.74%)10
RUB19,893.69
MISX:MRKC Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= RUB23,563.30 + RUB19,893.69
RUB43,457.00
Equity Value per Share
(RUB)
= Total value / Shares Outstanding
= RUB43,457.00 / 42,217.94
RUB1.03
MISX:MRKC Discount to Share Price
Calculation Result
Value per share (RUB) From above. RUB1.03
Current discount Discount to share price of RUB0.32
= -1 x (RUB0.32 - RUB1.03) / RUB1.03
69%

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

Current Discount
Amount off the current price Interregional Distribution Grid Company of Centre is available for.
Intrinsic value
>50%
Share price is RUB0.32 vs Future cash flow value of RUB1.03
Current Discount Checks
For Interregional Distribution Grid Company of Centre to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Interregional Distribution Grid Company of Centre's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Interregional Distribution Grid Company of Centre's share price is below the future cash flow value, and at a substantial discount (> 40%).
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 Interregional Distribution Grid Company of Centre's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Interregional Distribution Grid Company of Centre's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
MISX:MRKC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in RUB RUB0.07
MISX:MRKC Share Price ** MISX (2019-04-19) in RUB RUB0.32
Russian Federation Electric Utilities Industry PE Ratio Median Figure of 33 Publicly-Listed Electric Utilities Companies 6.9x
Russian Federation Market PE Ratio Median Figure of 129 Publicly-Listed Companies 7.36x

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

** Primary Listing of Interregional Distribution Grid Company of Centre.

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

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

= 0.32 ÷ 0.07

4.59x

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

  • Interregional Distribution Grid Company of Centre is good value based on earnings compared to the RU Electric Utilities industry average.
  • Interregional Distribution Grid Company of Centre is good value based on earnings compared to the Russian Federation market.
Price based on expected Growth
Does Interregional Distribution Grid Company of Centre's expected growth come at a high price?
Raw Data
MISX:MRKC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 4.59x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
8.2%per year
Russian Federation Electric Utilities Industry PEG Ratio Median Figure of 8 Publicly-Listed Electric Utilities Companies -0.01x
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 Interregional Distribution Grid Company of Centre, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Interregional Distribution Grid Company of Centre's assets?
Raw Data
MISX:MRKC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in RUB RUB1.06
MISX:MRKC Share Price * MISX (2019-04-19) in RUB RUB0.32
Russian Federation Electric Utilities Industry PB Ratio Median Figure of 37 Publicly-Listed Electric Utilities Companies 0.58x
Russian Federation Market PB Ratio Median Figure of 149 Publicly-Listed Companies 0.82x
MISX:MRKC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 0.32 ÷ 1.06

0.3x

* Primary Listing of Interregional Distribution Grid Company of Centre.

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

  • Interregional Distribution Grid Company of Centre is good value based on assets compared to the RU Electric Utilities industry average.
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Value checks
We assess Interregional Distribution Grid Company of Centre'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 Electric Utilities 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 Electric Utilities industry average (and greater than 0)? (1 check)
  5. Interregional Distribution Grid Company of Centre has a total score of 5/6, 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.

Future Performance

 How is Interregional Distribution Grid Company of Centre expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

  • No analysts cover Interregional Distribution Grid Company of Centre, 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
8.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Interregional Distribution Grid Company of Centre expected to grow at an attractive rate?
  • Interregional Distribution Grid Company of Centre's earnings growth is positive but not above the low risk savings rate of 8.4%.
Growth vs Market Checks
  • Interregional Distribution Grid Company of Centre's earnings growth is expected to exceed the Russian Federation market average.
  • Interregional Distribution Grid Company of Centre's revenue growth is positive but not above the Russian Federation market average.
Annual Growth Rates Comparison
Raw Data
MISX:MRKC Future Growth Rates Data Sources
Data Point Source Value (per year)
MISX:MRKC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 8.2%
MISX:MRKC Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 3.4%
Russian Federation Electric Utilities Industry Earnings Growth Rate Market Cap Weighted Average 6.2%
Russian Federation Electric Utilities Industry Revenue Growth Rate Market Cap Weighted Average 2.2%
Russian Federation Market Earnings Growth Rate Market Cap Weighted Average 3.8%
Russian Federation Market Revenue Growth Rate Market Cap Weighted Average 4.3%

*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:MRKC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in RUB Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
MISX:MRKC Future Estimates Data
Date (Data in RUB Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 103,872 14,036 1
2020-12-31 100,176 14,083 2
2019-12-31 96,458 15,212 2
MISX:MRKC Past Financials Data
Date (Data in RUB Millions) Revenue Cash Flow Net Income *
2018-12-31 93,935 14,437 2,935
2018-09-30 93,760 12,904 2,528
2018-06-30 92,646 14,868 2,409
2018-03-31 92,262 11,039 2,446
2017-12-31 91,116 14,268 2,753
2017-09-30 90,282 16,754 3,943
2017-06-30 90,000 16,000 4,943
2017-03-31 88,310 16,709 4,890
2016-12-31 86,295 14,702 4,724
2016-09-30 82,760 11,146 3,082
2016-06-30 83,445 10,257 2,189
2016-03-31 83,660 12,961 2,550

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Interregional Distribution Grid Company of Centre's earnings are expected to grow by 8.2% yearly, however this is not considered high growth (20% yearly).
  • Interregional Distribution Grid Company of Centre's revenue is expected to grow by 3.4% yearly, however this is not considered high growth (20% yearly).
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:MRKC Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Interregional Distribution Grid Company of Centre Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

MISX:MRKC Future Estimates Data
Date (Data in RUB Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31
2019-12-31
MISX:MRKC Past Financials Data
Date (Data in RUB Millions) EPS *
2018-12-31 0.07
2018-09-30 0.06
2018-06-30 0.06
2018-03-31 0.06
2017-12-31 0.07
2017-09-30 0.09
2017-06-30 0.12
2017-03-31 0.12
2016-12-31 0.11
2016-09-30 0.07
2016-06-30 0.05
2016-03-31 0.06

*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.
  • Interregional Distribution Grid Company of Centre is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Interregional Distribution Grid Company of Centre'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 Russian Federation 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.
Interregional Distribution Grid Company of Centre has a total score of 1/6, 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.

Past Performance

  How has Interregional Distribution Grid Company of Centre performed over the past 5 years?

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 Interregional Distribution Grid Company of Centre's growth in the last year to its industry (Electric Utilities).
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.
  • Interregional Distribution Grid Company of Centre has delivered over 20% year on year earnings growth in the past 5 years.
  • Interregional Distribution Grid Company of Centre's 1-year earnings growth is less than its 5-year average (6.6% vs 38.3%)
  • Interregional Distribution Grid Company of Centre's earnings growth has exceeded the RU Electric Utilities industry average in the past year (6.6% vs 3.2%).
Earnings and Revenue History
Interregional Distribution Grid Company of Centre'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 Interregional Distribution Grid Company of Centre Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

MISX:MRKC Past Revenue, Cash Flow and Net Income Data
Date (Data in RUB Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 93,935.26 2,935.25 22,478.14
2018-09-30 93,759.95 2,527.65 23,277.68
2018-06-30 92,645.63 2,408.79 22,065.20
2018-03-31 92,262.21 2,445.57 21,606.01
2017-12-31 91,115.57 2,753.15 21,434.22
2017-09-30 90,282.33 3,943.10 22,144.39
2017-06-30 90,000.38 4,942.85 22,624.67
2017-03-31 88,310.23 4,890.35 23,094.98
2016-12-31 86,294.86 4,723.76 23,132.92
2016-09-30 82,760.10 3,081.60 22,220.77
2016-06-30 83,444.83 2,188.82 22,985.36
2016-03-31 83,659.95 2,549.86 22,289.61
2015-12-31 80,830.29 852.81 21,780.91
2015-09-30 79,520.54 -1,949.63 20,198.19
2015-06-30 78,210.80 -4,752.08 18,615.47
2015-03-31 82,601.21 -4,035.18 18,606.74
2014-12-31 86,991.62 -3,318.29 18,598.01
2014-09-30 93,038.06 -557.99 21,004.80
2014-06-30 99,084.51 2,202.30 23,411.59
2014-03-31 96,190.52 1,217.99 24,555.56
2013-12-31 93,296.54 233.68 25,699.52
2013-09-30 85,512.96 972.49 23,214.66
2013-06-30 77,729.39 1,711.29 20,729.80
2013-03-31 72,941.01 2,773.84 21,725.71
2012-12-31 69,984.04 4,561.77 16,178.35
2012-09-30 70,728.95 3,825.18 26,134.59
2012-06-30 67,978.90 5,159.64 15,693.93

*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.
  • Interregional Distribution Grid Company of Centre has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Interregional Distribution Grid Company of Centre used its assets more efficiently than the RU Electric Utilities industry average last year based on Return on Assets.
  • Interregional Distribution Grid Company of Centre has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Interregional Distribution Grid Company of Centre'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 Electric Utilities 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.
Interregional Distribution Grid Company of Centre has a total score of 4/6, 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.

Health

 How is Interregional Distribution Grid Company of Centre'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 Interregional Distribution Grid Company of Centre's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Interregional Distribution Grid Company of Centre's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Interregional Distribution Grid Company of Centre's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Interregional Distribution Grid Company of Centre'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 not covered by short term assets, assets are 0.4x 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 Interregional Distribution Grid Company of Centre Company Filings, last reported 3 months ago.

MISX:MRKC Past Debt and Equity Data
Date (Data in RUB Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 44,862.97 40,389.68 787.05
2018-09-30 45,597.43 39,639.94 216.30
2018-06-30 45,526.32 38,791.61 318.19
2018-03-31 45,971.26 38,960.60 759.48
2017-12-31 42,619.16 41,480.67 1,362.31
2017-09-30 43,727.65 42,072.19 2,536.02
2017-06-30 44,007.53 42,375.27 3,759.68
2017-03-31 45,653.40 43,598.78 8,126.96
2016-12-31 43,253.73 43,278.49 2,567.31
2016-09-30
2016-06-30 40,704.55 42,608.96 2,220.03
2016-03-31 38,886.34 42,113.19 123.22
2015-12-31 38,886.34 42,113.19 123.22
2015-09-30 38,886.34 42,113.19 123.22
2015-06-30 39,168.03 36,840.70 1,203.15
2015-03-31 39,168.03 36,840.70 1,203.15
2014-12-31 38,931.66 37,363.92 395.84
2014-09-30 38,931.66 37,363.92 395.84
2014-06-30 44,439.51 33,780.62 366.72
2014-03-31 44,439.51 33,780.62 366.72
2013-12-31 41,753.98 33,696.96 1,114.94
2013-09-30 41,753.98 33,696.96 1,114.94
2013-06-30 42,465.56 27,698.70 1,432.95
2013-03-31 42,465.56 27,698.70 1,432.95
2012-12-31 42,641.54 27,044.38 971.59
2012-09-30 42,583.81 27,044.38 971.59
2012-06-30 41,611.54 22,015.21 3,322.35
  • Interregional Distribution Grid Company of Centre's level of debt (90%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (80.6% vs 90% today).
  • Debt is well covered by operating cash flow (35.7%, greater than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.6x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Interregional Distribution Grid Company of Centre'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. Interregional Distribution Grid Company of Centre has a total score of 1/6, 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.

Dividends

 What is Interregional Distribution Grid Company of Centre'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
6.53%
Current annual income from Interregional Distribution Grid Company of Centre dividends. Estimated to be 7.78% next year.
If you bought RUB2,000 of Interregional Distribution Grid Company of Centre shares you are expected to receive RUB131 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?
  • Interregional Distribution Grid Company of Centre's pays a higher dividend yield than the bottom 25% of dividend payers in Russian Federation (3.25%).
  • Interregional Distribution Grid Company of Centre's dividend is below the markets top 25% of dividend payers in Russian Federation (9.15%).
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:MRKC 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 2 Analyst Estimates (S&P Global) See Below
Russian Federation Electric Utilities Industry Average Dividend Yield Market Cap Weighted Average of 19 Stocks 5.9%
Russian Federation Market Average Dividend Yield Market Cap Weighted Average of 75 Stocks 6.8%
Russian Federation Minimum Threshold Dividend Yield 10th Percentile 1.8%
Russian Federation Bottom 25% Dividend Yield 25th Percentile 3.2%
Russian Federation Top 25% Dividend Yield 75th Percentile 9.2%

Industry and Market average data is calculated daily.

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

MISX:MRKC Future Dividends Estimate Data
Date (Data in RUB) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 0.03 1.00
2022-12-31 0.03 1.00
2021-12-31 0.03 1.00
2020-12-31 0.02 1.00
2019-12-31 0.02 1.00
MISX:MRKC Past Annualized Dividends Data
Date (Data in RUB) Dividend per share (annual) Avg. Yield (%)
2018-08-23 0.021 7.016
2018-03-16 0.021 6.039
2017-07-26 0.044 10.427
2016-08-19 0.011 2.812
2016-04-04 0.011 4.080
2015-08-27 0.020 9.673
2015-04-03 0.020 7.990
2014-09-05 0.002 0.676
2014-04-02 0.002 0.785
2013-08-29 0.020 8.888
2013-04-03 0.020 5.202
2012-08-29 0.010 1.677
2012-04-10 0.010 1.765
2011-07-01 0.015 1.907
2011-04-29 0.014 1.405

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

  • Interregional Distribution Grid Company of Centre 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 Interregional Distribution Grid Company of Centre only paid a dividend in the past 8 years.
Current Payout to shareholders
What portion of Interregional Distribution Grid Company of Centre's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (4x coverage).
X
Income/ dividend checks
We assess Interregional Distribution Grid Company of Centre'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 Interregional Distribution Grid Company of Centre afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Interregional Distribution Grid Company of Centre has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Interregional Distribution Grid Company of Centre'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
Igor Makovskiy
TENURE AS CEO 0.6 years
CEO Bio

Mr.Igor Makovskiy has been General Director at Interregional Distribution Grid Company of Centre, Public Joint Stock Company since September 19, 2018. Mr. Makovskiy had 15 years of experience in the energy sector. He worked as General Director of "Yantarenergo".Mr. Makovskiy had experience in the Kaliningrad region with regard to increasing the efficiency, reliability and quality of electricity supply for consumers of all categories.

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

Average tenure and age of the Interregional Distribution Grid Company of Centre management team in years:

5
Average Tenure
51
Average Age
  • The tenure for the Interregional Distribution Grid Company of Centre management team is about average.
Management Team

Igor Makovskiy

TITLE
General Director
TENURE
0.6 yrs

Oleg Isaev

TITLE
Chairman of Management Board & Director
AGE
49
TENURE
6.3 yrs

Alexander Pilyugin

TITLE
Deputy Chairman of Management Board
AGE
50

Lyudmila Sklyarova

TITLE
Chief Accountant
AGE
60

Mikhail Kachan

TITLE
Head of Department Operational and Technological Management

Ivan Kleymenov

TITLE
Deputy General Director & Member of Managementt Board
AGE
58
TENURE
9.2 yrs

Sergey Rumyantsev

TITLE
Adviser to the General Director & Member of Management Board
AGE
62
TENURE
5.8 yrs

Konstantin Mikhailik

TITLE
First Deputy General Director & Member of Management Board
AGE
35
TENURE
4.1 yrs

Inna Gromova

TITLE
Deputy GM of Human Resources Management & Organisational Design and Member of Management Board
AGE
51
TENURE
3.9 yrs

Andrey Zemskov

TITLE
Head of Investment Department
Board of Directors Tenure

Average tenure and age of the Interregional Distribution Grid Company of Centre board of directors in years:

5.8
Average Tenure
39.5
Average Age
  • The tenure for the Interregional Distribution Grid Company of Centre board of directors is about average.
Board of Directors

Mangarov Nikolaevich

TITLE
Chairperson
AGE
62
TENURE
4.3 yrs

Oxana Shatokhina

TITLE
Deputy Chairperson
AGE
43
TENURE
2.8 yrs

Oleg Isaev

TITLE
Chairman of Management Board & Director
AGE
49
TENURE
5.8 yrs

Alexander Shevchuk

TITLE
Independent Director
AGE
35
TENURE
7.8 yrs

Kim Anatolievna

TITLE
Chair of Audit Commission
AGE
37

Roman Filkin

TITLE
Non-Executive Director
AGE
35
TENURE
9.8 yrs

Denis Spirin

TITLE
Non-Executive Director
AGE
38
TENURE
9.8 yrs

Maxim Saukh

TITLE
Non-Executive Director
AGE
39
TENURE
6.8 yrs

Pavel Snikkars

TITLE
Non-Executive Director
AGE
40
TENURE
4.8 yrs

Tatiana Dronova

TITLE
Independent Director
COMPENSATION
RUB675K
AGE
64
TENURE
3.8 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 Interregional Distribution Grid Company of Centre'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. Interregional Distribution Grid Company of Centre 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.

News

Simply Wall St News

Is Interregional Distribution Grid Company of Centre, Public Joint Stock Company (MCX:MRKC) An Attractive Dividend Stock?

Is Interregional Distribution Grid Company of Centre, Public Joint Stock Company (MCX:MRKC) a good dividend stock? … With a eight-year payment history and a 6.5% yield, many investors probably find Interregional Distribution Grid Company of Centre intriguing. … Explore this interactive chart for our latest analysis on Interregional Distribution Grid Company of Centre!

Simply Wall St -

Is Interregional Distribution Grid Company of Centre, Public Joint Stock Company's (MCX:MRKC) Balance Sheet Strong Enough To Weather A Storm?

While small-cap stocks, such as Interregional Distribution Grid Company of Centre, Public Joint Stock Company (MCX:MRKC) with its market cap of RUруб14b, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn. … Assessing first and foremost the financial health is. … Let's work through some financial health checks you may wish to consider if you're interested in this stock.

Simply Wall St -

Did You Miss Interregional Distribution Grid Company of Centre's (MCX:MRKC) 43% Share Price Gain?

Unfortunately for shareholders, while the Interregional Distribution Grid Company of Centre, Public Joint Stock Company (MCX:MRKC) share price is up 43% in the last five years, that's less than the market return. … See our latest analysis for Interregional Distribution Grid Company of Centre. … Over half a decade, Interregional Distribution Grid Company of Centre managed to grow its earnings per share at 66% a year.

Simply Wall St -

Do Directors Own Interregional Distribution Grid Company of Centre, Public Joint Stock Company (MCX:MRKC) Shares?

A look at the shareholders of Interregional Distribution Grid Company of Centre, Public Joint Stock Company (MCX:MRKC) can tell us which group is most powerful. … Interregional Distribution Grid Company of Centre is a smaller company with a market capitalization of RUруб12b, so it may still be flying under the radar of many institutional investors. … institutional investors have bought into the company.

Simply Wall St -

What We Think Of Interregional Distribution Grid Company of Centre, Public Joint Stock Company’s (MCX:MRKC) Investment Potential

In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … Return On Capital Employed (ROCE): What is it? … ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business.

Simply Wall St -

What Kind Of Shareholders Own Interregional Distribution Grid Company of Centre Public Joint Stock Company (MCX:MRKC)?

The big shareholder groups in Interregional Distribution Grid Company of Centre Public Joint Stock Company (MCX:MRKC) have power over the company. … With a market capitalization of RUруб12b, Interregional Distribution Grid Company of Centre is a small cap stock, so it might not be well known by many institutional investors. … institutional investors have bought into the company.

Simply Wall St -

Should You Be Tempted To Buy Interregional Distribution Grid Company of Centre Public Joint Stock Company (MCX:MRKC) Because Of Its PE Ratio?

and want to begin learning about how to value company based on its current earnings and what are the drawbacks of this method. … Interregional Distribution Grid Company of Centre Public Joint Stock Company (MCX:MRKC) trades with a trailing P/E of 5.3, which is lower than the industry average of 5.7. … View our latest analysis for Interregional Distribution Grid Company of Centre

Simply Wall St -

With An ROE Of 5.4%, Can Interregional Distribution Grid Company of Centre Public Joint Stock Company (MCX:MRKC) Catch Up To The Industry?

Interregional Distribution Grid Company of Centre Public Joint Stock Company (MCX:MRKC) generated a below-average return on equity of 5.4% in the past 12 months, while its industry returned 9.9%. … An investor may attribute an inferior ROE to a relatively inefficient performance, and whilst this can often be the case, knowing the nuts and bolts of the ROE calculation may change that perspective and give you a deeper insight into MRKC's past performance. … Check out our latest analysis for Interregional Distribution Grid Company of Centre

Simply Wall St -

What You Must Know About Interregional Distribution Grid Company of Centre Public Joint Stock Company's (MCX:MRKC) Major Investors

In this analysis, my focus will be on developing a perspective on Interregional Distribution Grid Company of Centre Public Joint Stock Company’s (MCX:MRKC) latest ownership structure, a less discussed, but important factor. … Therefore, it is beneficial for us to examine MRKC's ownership structure in more detail. … Check out our latest analysis for Interregional Distribution Grid Company of Centre

Simply Wall St -

What does Interregional Distribution Grid Company of Centre Public Joint Stock Company's (MCX:MRKC) Balance Sheet Tell Us About Its Future?

While small-cap stocks, such as Interregional Distribution Grid Company of Centre Public Joint Stock Company (MCX:MRKC) with its market cap of RUруб14.78b, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn. … Assessing first and foremost the financial health is. … Here are few basic financial health checks you should consider before taking the plunge.

Simply Wall St -

Company Info

Description

Interregional Distribution Grid Company of Centre, Public Joint Stock Company operates as an electric grid company of Russia. The company transmits and distributes electricity; and connects customers to the electric grid. It supplies electricity to the population, industrial companies, transport and agriculture enterprises, and socially important facilities. The company was founded in 2004 and is based in Moscow, Russia. Interregional Distribution Grid Company of Centre, Public Joint Stock Company operates as a subsidiary of Rosseti, Public Joint Stock Company

Details
Name: Interregional Distribution Grid Company of Centre, Public Joint Stock Company
MRKC
Exchange: MISX
Founded: 2004
RUB13,467,523,328
42,217,941,468
Website: http://www.mrsk-1.ru
Address: Interregional Distribution Grid Company of Centre, Public Joint Stock Company
4, 2nd Yamskaya street,
Moscow,
127018,
Russia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
MISX MRKC Ordinary Shares Micex - Rts RU RUB 29. May 2008
Number of employees
Current staff
Staff numbers
29,967
Interregional Distribution Grid Company of Centre employees.
Industry
Electric Utilities
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/19 21:21
End of day share price update: 2019/04/19 00:00
Last estimates confirmation: 2019/04/05
Last earnings filing: 2019/03/20
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


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.