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MRKP

Rosseti Centre and Volga region MISX:MRKP Stock Report

Last Price

₽0.18

Market Cap

₽20.3b

7D

0%

1Y

-26.0%

Updated

15 Aug, 2022

Data

Company Financials
MRKP fundamental analysis
Snowflake Score
Valuation4/6
Future Growth0/6
Past Performance5/6
Financial Health4/6
Dividends3/6

MRKP Stock Overview

Public Joint stock company Rosseti Centre and Volga region, together with its subsidiaries, engages in the transmission and distribution of electricity in Russia.

Rosseti Centre and Volga region Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Rosseti Centre and Volga region
Historical stock prices
Current Share Price₽0.18
52 Week High₽0.29
52 Week Low₽0.13
Beta0.88
1 Month Change0%
3 Month Change-10.49%
1 Year Change-26.04%
3 Year Change-24.96%
5 Year Change-39.11%
Change since IPO-16.23%

Recent News & Updates

Sep 13
These 4 Measures Indicate That Interregional Distribution Grid Company of Center and Volga Region (MCX:MRKP) Is Using Debt Extensively

These 4 Measures Indicate That Interregional Distribution Grid Company of Center and Volga Region (MCX:MRKP) Is Using Debt Extensively

Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...

Shareholder Returns

MRKPRU Electric UtilitiesRU Market
7D0%0%0%
1Y-26.0%-24.1%-33.1%

Return vs Industry: MRKP underperformed the Russian Electric Utilities industry which returned -24.3% over the past year.

Return vs Market: MRKP exceeded the Russian Market which returned -32.9% over the past year.

Price Volatility

Is MRKP's price volatile compared to industry and market?
MRKP volatility
MRKP Average Weekly Movement6.6%
Electric Utilities Industry Average Movement5.6%
Market Average Movement4.9%
10% most volatile stocks in RU Market8.5%
10% least volatile stocks in RU Market2.9%

Stable Share Price: MRKP is not significantly more volatile than the rest of Russian stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: MRKP's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
200720,734Makovskiy Vladimirovichhttps://www.mrsk-cp.ru

Public Joint stock company Rosseti Centre and Volga region, together with its subsidiaries, engages in the transmission and distribution of electricity in Russia. It supplies electricity transmission and technological connection services to electric grids located in Vladimir, Ivanovo, Kaluga, Kirov, Nizhny Novgorod, Ryazan, and Tula regions, as well as in the Republic of Mary El and the Republic of Udmurtia. The company was founded in 2007 and is headquartered in Nizhny Novgorod, Russia.

Rosseti Centre and Volga region Fundamentals Summary

How do Rosseti Centre and Volga region's earnings and revenue compare to its market cap?
MRKP fundamental statistics
Market Cap₽20.30b
Earnings (TTM)₽9.85b
Revenue (TTM)₽104.94b

2.1x

P/E Ratio

0.2x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
MRKP income statement (TTM)
Revenue₽104.94b
Cost of Revenue₽88.71b
Gross Profit₽16.23b
Other Expenses₽6.38b
Earnings₽9.85b

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.087
Gross Margin15.47%
Net Profit Margin9.39%
Debt/Equity Ratio37.8%

How did MRKP perform over the long term?

See historical performance and comparison

Dividends

14.4%

Current Dividend Yield

30%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is MRKP undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MRKP?

Other financial metrics that can be useful for relative valuation.

MRKP key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue0.5x
Enterprise Value/EBITDA2x
PEG Ration/a

Price to Earnings Ratio vs Peers

How does MRKP's PE Ratio compare to its peers?

MRKP PE Ratio vs Peers
The above table shows the PE ratio for MRKP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average5.6x
KUBE Rosseti Kuban PJSC
7xn/a₽19.7b
DVEC FAR-EASTERN ENERGY
9xn/a₽14.8b
TGKA Territorial Generating Company No. 1
3.8x0.9%₽32.6b
MRKU Interregional Distribution Grid Company of Urals
2.5xn/a₽13.3b
MRKP Rosseti Centre and Volga region
2.1xn/a₽20.3b

Price-To-Earnings vs Peers: MRKP is good value based on its Price-To-Earnings Ratio (2.1x) compared to the peer average (5.6x).


Price to Earnings Ratio vs Industry

How does MRKP's PE Ratio compare vs other companies in the RU Electric Utilities Industry?

Price-To-Earnings vs Industry: MRKP is good value based on its Price-To-Earnings Ratio (2.1x) compared to the Russian Electric Utilities industry average (5.8x)


Price to Earnings Ratio vs Fair Ratio

What is MRKP's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MRKP PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio2.1x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate MRKP's Price-To-Earnings Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of MRKP when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MRKP (RUB0.18) is trading below our estimate of fair value (RUB1.84)

Significantly Below Fair Value: MRKP is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.


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Future Growth

How is Rosseti Centre and Volga region forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


0.06%

Forecasted Utilities industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Rosseti Centre and Volga region has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


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  • Examine whether Rosseti Centre and Volga region is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.
  • Rosseti Centre and Volga region competitive advantages and company strategy can generally be found in its financial reports archived here.

Past Performance

How has Rosseti Centre and Volga region performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


0.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: MRKP has high quality earnings.

Growing Profit Margin: MRKP's current net profit margins (9.4%) are higher than last year (7.6%).


Past Earnings Growth Analysis

Earnings Trend: MRKP's earnings have grown by 0.6% per year over the past 5 years.

Accelerating Growth: MRKP's earnings growth over the past year (35.1%) exceeds its 5-year average (0.6% per year).

Earnings vs Industry: MRKP earnings growth over the past year (35.1%) exceeded the Electric Utilities industry 28.2%.


Return on Equity

High ROE: MRKP's Return on Equity (14.4%) is considered low.


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Financial Health

How is Rosseti Centre and Volga region's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: MRKP's short term assets (RUB20.8B) do not cover its short term liabilities (RUB23.8B).

Long Term Liabilities: MRKP's short term assets (RUB20.8B) do not cover its long term liabilities (RUB32.2B).


Debt to Equity History and Analysis

Debt Level: MRKP's net debt to equity ratio (35.8%) is considered satisfactory.

Reducing Debt: MRKP's debt to equity ratio has reduced from 66.2% to 37.8% over the past 5 years.

Debt Coverage: MRKP's debt is well covered by operating cash flow (78.4%).

Interest Coverage: MRKP's interest payments on its debt are well covered by EBIT (9.1x coverage).


Balance Sheet


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Dividend

What is Rosseti Centre and Volga region current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


14.40%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: MRKP's dividend (14.4%) is higher than the bottom 25% of dividend payers in the Russian market (4.85%).

High Dividend: MRKP's dividend (14.4%) is in the top 25% of dividend payers in the Russian market (13.13%)


Stability and Growth of Payments

Stable Dividend: MRKP has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: MRKP's dividend payments have increased, but the company has only paid a dividend for 9 years.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (29.7%), MRKP's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Insufficient data to calculate cash payout ratio to determine if its dividend payments are covered by cash flows.


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Management

How experienced are the management team and are they aligned to shareholders interests?

2.4yrs

Average management tenure


CEO

Makovskiy Vladimirovich (50 yo)

no data

Tenure

Mr. Makovskiy Igor Vladimirovich serves as Executive Director at Public Joint stock company Rosseti Centre and Volga region (formerly known as Interregional Distribution Grid Company of Center and Volga Re...


Leadership Team

Experienced Management: MRKP's management team is considered experienced (2.4 years average tenure).


Board Members

Experienced Board: MRKP's board of directors are not considered experienced ( 2.7 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 Rosseti Centre and Volga region's employee growth, exchange listings and data sources


Key Information

  • Name: Public Joint stock company Rosseti Centre and Volga region
  • Ticker: MRKP
  • Exchange: MISX
  • Founded: 2007
  • Industry: Electric Utilities
  • Sector: Utilities
  • Implied Market Cap: ₽20.297b
  • Shares outstanding: 112.70b
  • Website: https://www.mrsk-cp.ru

Number of Employees


Location

  • Public Joint stock company Rosseti Centre and Volga region
  • 33 Rozhdestvenskaya Street
  • Nizhny Novgorod
  • Nizhegorodskaya obl.
  • 603950
  • Russia

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/15 00:00
End of Day Share Price2022/07/08 00:00
Earnings2021/09/30
Annual Earnings2020/12/31


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.