Interregional Distribution Grid Company of the North-West
Public Joint-Stock Company Interregional Distribution Grid Company of the North-West owns and operates electric power transmission and distribution grids in the North-Western region of Russia. The last earnings update was 30 days ago. More info.
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MRKZ Share Price and Events
7 Day Returns
1 Year Returns
MRKZ Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Interregional Distribution Grid Company of the North-West (MRKZ) | 0.4% | 0.6% | -16% | 8.8% | 21.2% | 106.1% |
| RU Electric Utilities | 0.3% | 2.5% | 5.6% | -5.1% | 37.4% | 96.3% |
| RU Market | -0.8% | 2.6% | 4.3% | 7.6% | 30.5% | 93.5% |
1 Year Return vs Industry and Market
- MRKZ outperformed the Electric Utilities industry which returned -5.1% over the past year.
- MRKZ outperformed the Market in Russian Federation which returned 7.6% over the past year.
Value
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 the North-West
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Interregional Distribution Grid Company of the North-West.
| 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 | 16.8% |
| 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.
| 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%) (306.19%)) |
0.889 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.89 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 8.44% + (0.889 * 9.43%) |
16.82% |
Discounted Cash Flow Calculation for MISX:MRKZ using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Interregional Distribution Grid Company of the North-West 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.
| Levered FCF (RUB, Millions) | Source |
Present Value Discounted (@ 16.82%) |
|
|---|---|---|---|
| 2019 | 2,012.24 | Analyst x1 | 1,722.48 |
| 2020 | 2,353.23 | Analyst x1 | 1,724.30 |
| 2021 | 2,327.32 | Analyst x1 | 1,459.76 |
| 2022 | 2,197.71 | Analyst x1 | 1,179.97 |
| 2023 | 2,220.62 | Analyst x1 | 1,020.58 |
| 2024 | 2,240.78 | Est @ 0.91% | 881.55 |
| 2025 | 2,311.76 | Est @ 3.17% | 778.51 |
| 2026 | 2,421.55 | Est @ 4.75% | 698.06 |
| 2027 | 2,563.36 | Est @ 5.86% | 632.53 |
| 2028 | 2,733.35 | Est @ 6.63% | 577.35 |
| Present value of next 10 years cash flows | RUB10,675.09 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= RUB2,733.35 × (1 + 8.44%) ÷ (16.82% – 8.44%) |
RUB35,361.25 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= RUB35,361.25 ÷ (1 + 16.82%)10 |
RUB7,469.20 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= RUB10,675.09 + RUB7,469.20 |
RUB18,144.29 |
| Equity Value per Share (RUB) |
= Total value / Shares Outstanding
= RUB18,144.29 / 95,785.92 |
RUB0.19 |
| Calculation | Result | |
|---|---|---|
| Value per share (RUB) | From above. | RUB0.19 |
| Current discount | Discount to share price of
RUB0.05
= -1 x (RUB0.05 - RUB0.19) / RUB0.19 |
72% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Interregional Distribution Grid Company of the North-West's share price is below the future cash flow value, and at a moderate discount (> 20%).
- Interregional Distribution Grid Company of the North-West'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 the North-West'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 the North-West's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in RUB | RUB0.01 |
| MISX:MRKZ Share Price ** | MISX (2019-04-18) in RUB | RUB0.05 |
| Russian Federation Electric Utilities Industry PE Ratio | Median Figure of 34 Publicly-Listed Electric Utilities Companies | 7.06x |
| Russian Federation Market PE Ratio | Median Figure of 130 Publicly-Listed Companies | 7.39x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Interregional Distribution Grid Company of the North-West.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = MISX:MRKZ Share Price ÷ EPS (both in RUB) = 0.05 ÷ 0.01 |
4.44x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Interregional Distribution Grid Company of the North-West is good value based on earnings compared to the RU Electric Utilities industry average.
- Interregional Distribution Grid Company of the North-West is good value based on earnings compared to the Russian Federation market.
Price based on expected Growth
Does
Interregional Distribution Grid Company of the North-West's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 4.44x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts |
12.6%per year |
| Russian Federation Electric Utilities Industry PEG Ratio | Median Figure of 8 Publicly-Listed Electric Utilities Companies | -0.29x |
| 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 the North-West, 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 the North-West's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in RUB | RUB0.20 |
| MISX:MRKZ Share Price * | MISX (2019-04-18) in RUB | RUB0.05 |
| Russian Federation Electric Utilities Industry PB Ratio | Median Figure of 38 Publicly-Listed Electric Utilities Companies | 0.66x |
| Russian Federation Market PB Ratio | Median Figure of 150 Publicly-Listed Companies | 0.83x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = MISX:MRKZ Share Price ÷ Book Value per Share (both in RUB) = 0.05 ÷ 0.20 |
0.26x |
* Primary Listing of Interregional Distribution Grid Company of the North-West.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Interregional Distribution Grid Company of the North-West is good value based on assets compared to the RU Electric Utilities industry average.
Value checks
We assess Interregional Distribution Grid Company of the North-West's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Electric Utilities industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Electric Utilities industry average (and greater than 0)? (1 check) Interregional Distribution Grid Company of the North-West 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
- No analysts cover Interregional Distribution Grid Company of the North-West, 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!
Earnings growth vs Low Risk Savings
- Interregional Distribution Grid Company of the North-West's earnings growth is expected to exceed the low risk savings rate of 8.4%.
Growth vs Market Checks
- Interregional Distribution Grid Company of the North-West's earnings growth is expected to exceed the Russian Federation market average.
- Interregional Distribution Grid Company of the North-West's revenue growth is positive but not above the Russian Federation market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| MISX:MRKZ Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts | 12.6% |
| MISX:MRKZ Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts | 2.4% |
| Russian Federation Electric Utilities Industry Earnings Growth Rate | Market Cap Weighted Average | 4.2% |
| Russian Federation Electric Utilities Industry Revenue Growth Rate | Market Cap Weighted Average | 1.9% |
| Russian Federation Market Earnings Growth Rate | Market Cap Weighted Average | 3.8% |
| Russian Federation Market Revenue Growth Rate | Market Cap Weighted Average | 4.4% |
*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
| 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 |
| Date (Data in RUB Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | ||||
| 2022-12-31 | ||||
| 2021-12-31 | 70,064 | 5,401 | 1 | |
| 2020-12-31 | 68,059 | 5,837 | 2 | |
| 2019-12-31 | 67,015 | 6,444 | 2 |
| Date (Data in RUB Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 64,854 | 6,290 | 1,146 |
| 2018-09-30 | 60,215 | 8,051 | -1,933 |
| 2018-06-30 | 56,031 | 9,301 | -1,673 |
| 2018-03-31 | 51,170 | 7,360 | -2,128 |
| 2017-12-31 | 47,869 | 6,521 | -2,172 |
| 2017-09-30 | 47,991 | 3,955 | 1,009 |
| 2017-06-30 | 47,587 | 4,591 | 849 |
| 2017-03-31 | 46,407 | 6,938 | 952 |
| 2016-12-31 | 45,546 | 5,618 | 585 |
| 2016-09-30 | 44,314 | 8,742 | 601 |
| 2016-06-30 | 43,505 | 8,906 | 704 |
| 2016-03-31 | 44,127 | 6,551 | 1,077 |
*GAAP earnings excluding extraordinary items.
High Growth Checks
- Interregional Distribution Grid Company of the North-West's earnings are expected to grow by 12.6% yearly, however this is not considered high growth (20% yearly).
- Interregional Distribution Grid Company of the North-West's revenue is expected to grow by 2.4% yearly, however this is not considered high growth (20% yearly).
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 the North-West Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| 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 |
| Date (Data in RUB Millions) | EPS * |
|---|---|
| 2018-12-31 | 0.01 |
| 2018-09-30 | -0.02 |
| 2018-06-30 | -0.02 |
| 2018-03-31 | -0.02 |
| 2017-12-31 | -0.02 |
| 2017-09-30 | 0.01 |
| 2017-06-30 | 0.01 |
| 2017-03-31 | 0.01 |
| 2016-12-31 | 0.01 |
| 2016-09-30 | 0.01 |
| 2016-06-30 | 0.01 |
| 2016-03-31 | 0.01 |
*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 the North-West is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
Future performance checks
We assess Interregional Distribution Grid Company of the North-West's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Russian Federation market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Russian Federation market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Interregional Distribution Grid Company of the North-West has a total score of 2/6, 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 the North-West 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
Past Earnings growth analysis
- Interregional Distribution Grid Company of the North-West's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
- Interregional Distribution Grid Company of the North-West has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
- Interregional Distribution Grid Company of the North-West has become profitable in the last year making it difficult to compare the RU Electric Utilities industry average.
Earnings and Revenue History
All data from Interregional Distribution Grid Company of the North-West Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in RUB Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 64,853.95 | 1,145.97 | 16,412.15 | |
| 2018-09-30 | 60,214.62 | -1,933.03 | 20,150.73 | |
| 2018-06-30 | 56,031.41 | -1,672.78 | 19,759.62 | |
| 2018-03-31 | 51,169.72 | -2,128.05 | 19,423.58 | |
| 2017-12-31 | 47,869.11 | -2,172.23 | 18,675.52 | |
| 2017-09-30 | 47,991.43 | 1,009.21 | 15,366.28 | |
| 2017-06-30 | 47,587.34 | 848.96 | 14,845.17 | |
| 2017-03-31 | 46,406.93 | 952.19 | 14,095.59 | |
| 2016-12-31 | 45,545.79 | 584.64 | 13,604.80 | |
| 2016-09-30 | 44,313.86 | 601.40 | 11,948.34 | |
| 2016-06-30 | 43,504.87 | 703.87 | 11,516.03 | |
| 2016-03-31 | 44,126.99 | 1,077.32 | 11,513.41 | |
| 2015-12-31 | 42,370.02 | 814.86 | 11,394.14 | |
| 2015-09-30 | 43,141.53 | -2,017.08 | 11,646.09 | |
| 2015-06-30 | 43,909.53 | -2,212.86 | 11,727.58 | |
| 2015-03-31 | 45,422.29 | -2,214.84 | 11,407.61 | |
| 2014-12-31 | 46,935.06 | -2,216.82 | 11,087.63 | |
| 2014-09-30 | 47,362.51 | 424.73 | 10,735.74 | |
| 2014-06-30 | 48,226.82 | 1,157.07 | 10,096.64 | |
| 2014-03-31 | 47,113.69 | 662.97 | 12,822.49 | |
| 2013-12-31 | 44,615.08 | 386.56 | 10,729.29 | |
| 2013-09-30 | 40,926.31 | 311.72 | 10,134.77 | |
| 2013-06-30 | 37,347.49 | -323.48 | 10,202.27 | |
| 2013-03-31 | 34,863.99 | -190.03 | 9,185.05 | |
| 2012-12-31 | 33,418.67 | 396.41 | 8,799.89 | |
| 2012-09-30 | 34,230.83 | -391.46 | 14,284.08 | |
| 2012-06-30 | 33,638.73 | 13.09 | 12,445.59 |
*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 the North-West has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Interregional Distribution Grid Company of the North-West used its assets less efficiently than the RU Electric Utilities industry average last year based on Return on Assets.
- Interregional Distribution Grid Company of the North-West has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Interregional Distribution Grid Company of the North-West's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Electric Utilities industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Interregional Distribution Grid Company of the North-West has a total score of 1/6, 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
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 the North-West's finances.
The net worth of a company is the difference between its assets and liabilities.
- Interregional Distribution Grid Company of the North-West's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
- Interregional Distribution Grid Company of the North-West's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is not covered by short term assets, assets are 0.6x 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.
All data from Interregional Distribution Grid Company of the North-West Company Filings, last reported 3 months ago.
| Date (Data in RUB Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 19,345.49 | 15,544.26 | 151.12 |
| 2018-09-30 | 19,096.34 | 15,550.08 | 103.76 |
| 2018-06-30 | 19,439.59 | 13,549.46 | 106.73 |
| 2018-03-31 | 19,119.12 | 13,235.70 | 335.92 |
| 2017-12-31 | 18,237.45 | 14,333.90 | 84.47 |
| 2017-09-30 | 21,151.09 | 15,599.80 | 307.58 |
| 2017-06-30 | 21,337.20 | 14,823.35 | 227.67 |
| 2017-03-31 | 21,660.16 | 14,445.30 | 483.35 |
| 2016-12-31 | 20,782.80 | 14,793.30 | 361.62 |
| 2016-09-30 | 20,188.05 | 15,337.68 | 247.80 |
| 2016-06-30 | 20,572.51 | 14,550.40 | 131.45 |
| 2016-03-31 | 20,562.36 | 15,144.78 | 71.25 |
| 2015-12-31 | 20,562.36 | 15,144.78 | 71.25 |
| 2015-09-30 | 20,077.31 | 18,413.59 | 1,179.08 |
| 2015-06-30 | 20,311.23 | 18,230.88 | 928.81 |
| 2015-03-31 | 20,311.23 | 18,230.88 | 928.81 |
| 2014-12-31 | 19,859.04 | 18,452.37 | 2,186.09 |
| 2014-09-30 | 22,178.21 | 17,645.57 | 1,040.74 |
| 2014-06-30 | 22,608.28 | 17,843.68 | 728.48 |
| 2014-03-31 | 22,608.28 | 17,843.68 | 728.48 |
| 2013-12-31 | 22,118.47 | 16,729.69 | 839.96 |
| 2013-09-30 | 22,029.54 | 15,897.44 | 1,022.59 |
| 2013-06-30 | 21,727.24 | 12,718.90 | 505.14 |
| 2013-03-31 | 27,147.03 | 10,528.54 | 386.18 |
| 2012-12-31 | 21,966.36 | 10,648.27 | 727.00 |
| 2012-09-30 | 27,594.13 | 7,453.23 | 497.84 |
| 2012-06-30 | 27,713.83 | 5,750.94 | 726.13 |
- Interregional Distribution Grid Company of the North-West's level of debt (80.4%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has increased over the past 5 years (75.7% vs 80.4% today).
- Debt is well covered by operating cash flow (40.5%, greater than 20% of total debt).
- Interest payments on debt are not well covered by earnings (EBIT is 2.5x annual interest expense, ideally 3x coverage).
Financial health checks
We assess Interregional Distribution Grid Company of the North-West's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Interregional Distribution Grid Company of the North-West has a total score of 1/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
RUB2,000 of
Interregional Distribution Grid Company of the North-West
shares you are expected to receive
RUB0
in your first year as a dividend.
Dividend Amount
- Unable to evaluate Interregional Distribution Grid Company of the North-West's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
- Unable to evaluate Interregional Distribution Grid Company of the North-West's dividend against the top 25% market benchmark as the company has not reported any payouts.
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.
| 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.
| Date (Data in RUB) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-12-31 | ||
| 2022-12-31 | ||
| 2021-12-31 | ||
| 2020-12-31 | ||
| 2019-12-31 |
| Date (Data in RUB) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-03-19 | 0.000 | 0.000 |
| 2018-11-23 | 0.000 | 0.000 |
| 2018-09-07 | 0.000 | 0.000 |
| 2018-05-29 | 0.000 | 0.000 |
| 2018-03-16 | 0.000 | 0.000 |
| 2017-06-13 | 0.001 | 2.193 |
| 2016-06-22 | 0.004 | 8.802 |
| 2015-11-19 | 0.000 | 0.000 |
| 2015-08-18 | 0.000 | 0.000 |
| 2015-06-30 | 0.000 | 0.000 |
| 2014-06-26 | 0.001 | 2.775 |
| 2013-06-21 | 0.000 | 0.516 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Unable to perform a dividend volatility check as Interregional Distribution Grid Company of the North-West has not reported any payouts.
- Unable to verify if Interregional Distribution Grid Company of the North-West's dividend has been increasing as the company has not reported any payouts.
Income/ dividend checks
We assess Interregional Distribution Grid Company of the North-West's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Interregional Distribution Grid Company of the North-West afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Interregional Distribution Grid Company of the North-West has a total score of 0/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| AGE | 35 |
| TENURE AS CEO | 0.5 years |
CEO Bio
Mr. Artyom Yuryevich Pidnik has been Chairman of the Management Board at Public Joint Stock Company Interregional Distribution Grid Company of North-West since 2018. He has been General Director at Public Joint Stock Company Interregional Distribution Grid Company of North-West since October 11, 2018. He Graduated from St. Petersburg State University. Since 2002 he had been working in the field of legal consulting. Since 2011 – Commercial Director – Deputy General Director, since 2012 – First Deputy General Director– Director for Economy and Finance of Baltic Shipyard LLC. 2013-2014 Deputy Director for Development of the ZAO “Construction & Erection Department No. 10 of Metrostroy”. Since 2014 - First Deputy General Director, 2015 - 2018 - General Director of Sevkabel Group LLC. On 03.07.2018 he had been appointed to the position of Advisor to the General Affairs Administration of IDGC of North-West, PJSC. Since 16.07.2018 – Acting Deputy General Director for Economy and Finance of IDGC of North-West. Since 11 October 2018, he has been elected to be the General Director of IDGC of North-West, PJSC (Resolution of the Board of Directors dated 10.10.2018, Minutes of Meeting No. 298/11). Qualification upgrade: 2006 - Organization Governance in the Field of Management 2007 - Project Management, Marketing Management (St. Petersburg State University) 2012 - Financial Management (St. Petersburg State University of Economy and Finance) 2017 - Professional Retraining Program “Executive MBA (for managers)”, (St. Petersburg State University)
CEO Compensation
- Insufficient data for Artyom to compare compensation growth.
- Insufficient data for Artyom 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 the North-West management team in years:
- The tenure for the Interregional Distribution Grid Company of the North-West management team is about average.
Management Team
Artyom Pidnik
Chairman of the Management Board & General Director
35
0.5 yrs
Shadrina Lyudmila Vladimirovna
Member of the management board and Deputy General Director for Economics & Finance
1.3 yrs
Vladimir Gusev
Deputy General Director for Security & Member of Management Board
68
4 yrs
Vadim Fedorov
Member of the Management Board
46
3.3 yrs
Denis Yagodka
First Deputy Director General
39
Savin Olegovich
Member of the management board & Deputy General Director for Investment Activities
0.3 yrs
Irina Zhdanova
Chief Accountant and Head of the Department for Financial & Fiscal Accounting
55
3.1 yrs
Ludmila Vasinuyk
Head of the Shareholders and Investors Relations Department
Alexander Mikhalkov
Director of Electric Energy Accounting & Energy Efficiency and Head of Dept.
56
3.6 yrs
Alexey Shmyrin
Head of the Prospective Development & Technological Connection Department
Board of Directors Tenure
Average tenure and age of the Interregional Distribution Grid Company of the North-West board of directors in years:
- The tenure for the Interregional Distribution Grid Company of the North-West board of directors is about average.
Board of Directors
Olga Sergeeva
Chairman
34
0.8 yrs
Dmitry Akopyan
Deputy Chairman
51
Marina Lelekova
Chairman of Audit Commission
57
Marina Lavrova
Non-Executive Director
RUB900K
36
5.1 yrs
Alexander Shevchuk
Independent Director
RUB900K
35
2.8 yrs
Roman Filkin
Non-Executive Director
RUB875K
35
7.8 yrs
Alexey Zharikov
Non-Executive Director
RUB831K
48
5.1 yrs
Maria Stepanova
Non-Executive Director
RUB831K
36
3.8 yrs
Nikolay Bogomolov
Non-Executive Director
43
1.8 yrs
Oleg Fyodorov
Director
50
1.8 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (RUB) | Value (RUB) | |
|---|---|---|---|---|---|---|---|---|---|---|
Management checks
We assess Interregional Distribution Grid Company of the North-West's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Interregional Distribution Grid Company of the North-West 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
Are Public Joint-Stock Company Interregional Distribution Grid Company of the North-West’s (MCX:MRKZ) Returns Worth Your While?
To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … What is Return On Capital Employed (ROCE)? … How Do You Calculate Return On Capital Employed
Simply Wall St - – Full articleHow Financially Strong Is Public Joint-Stock Company Interregional Distribution Grid Company of the North-West (MCX:MRKZ)?
Want to participate in a short research study? … While small-cap stocks, such as Public Joint-Stock Company Interregional Distribution Grid Company of the North-West (MCX:MRKZ) with its market cap of RUруб5.0b, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn.
Simply Wall St - – Full articleAre Public Joint-Stock Company Interregional Distribution Grid Company of the North-West's (MCX:MRKZ) Interest Costs Too High?
While small-cap stocks, such as Public Joint-Stock Company Interregional Distribution Grid Company of the North-West (MCX:MRKZ) with its market cap of RUруб5.8b, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn. … the current state of its operations and pathway to profitability.
Simply Wall St - – Full articleWhat does Public Joint-Stock Company Interregional Distribution Grid Company of the North-West's (MCX:MRKZ) Balance Sheet Tell Us About Its Future?
While small-cap stocks, such as Public Joint-Stock Company Interregional Distribution Grid Company of the North-West (MCX:MRKZ) with its market cap of RUруб5.99b, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn.
Simply Wall St - – Full articleWho Owns Most Of Public Joint-Stock Company Interregional Distribution Grid Company of the North-West (MCX:MRKZ)?
In this analysis, my focus will be on developing a perspective on Public Joint-Stock Company Interregional Distribution Grid Company of the North-West’s (MISX:MRKZ) latest ownership structure, a less discussed, but important factor. … Check out our latest analysis for Interregional Distribution Grid Company of the North-West MISX:MRKZ Ownership_summary Apr 26th 18 Institutional Ownership In MRKZ's case, institutional ownership stands at 15.58%, significant enough to cause considerable price moves in the case of large institutional transactions, especially when there is a low level of public shares available on the market to trade. … Public Company Ownership Another group of owners that a potential investor in MRKZ should consider are other public companies, with a stake of 55.38%.
Simply Wall St - – Full articlePublic Joint-Stock Company Interregional Distribution Grid Company of the North-West (MCX:MRKZ): How Does It Impact Your Portfolio?
If you are looking to invest in Public Joint-Stock Company Interregional Distribution Grid Company of the North-West’s (MISX:MRKZ), or currently own the stock, then you need to understand its beta in order to understand how it can affect the risk of your portfolio. … A popular measure of market risk for a stock is its beta, and the market as a whole represents a beta value of one. … MRKZ’s beta indicates it is a stock that investors may find valuable if they want to reduce the overall market risk exposure of their stock portfolio.
Simply Wall St - – Full articleWhat does Public Joint-Stock Company Interregional Distribution Grid Company of the North-West's (MCX:MRKZ) Balance Sheet Tell Us About Its Future?
On top of this, MRKZ has generated cash from operations of RUРУБ5.62B during the same period of time, leading to an operating cash to total debt ratio of 37.97%, signalling that MRKZ’s current level of operating cash is high enough to cover debt. … At the current liabilities level of RUРУБ12.11B liabilities, the company has been able to meet these commitments with a current assets level of RUРУБ16.12B, leading to a 1.33x current account ratio. … For MRKZ, the ratio of 1.42x suggests that interest is not strongly covered, which means that lenders may be more reluctant to lend out more funding as MRKZ’s low interest coverage already puts the company at higher risk of default.Next Steps: MRKZ’s high cash coverage means that, although its debt levels are high, the company is able to utilise its borrowings efficiently in order to generate cash flow.
Simply Wall St - – Full articleWhy Public Joint-Stock Company Interregional Distribution Grid Company of the North-West (MCX:MRKZ) May Not Be As Efficient As Its Industry
Public Joint-Stock Company Interregional Distribution Grid Company of the North-West’s (MISX:MRKZ) most recent return on equity was a substandard 4.77% relative to its industry performance of 9.23% over the past year. … View our latest analysis for Interregional Distribution Grid Company of the North-West Peeling the layers of ROE – trisecting a company’s profitability Return on Equity (ROE) is a measure of Interregional Distribution Grid Company of the North-West’s profit relative to its shareholders’ equity. … Since Interregional Distribution Grid Company of the North-West’s return does not cover its cost, with a difference of -14.74%, this means its current use of equity is not efficient and not sustainable.
Simply Wall St - – Full articleShould You Be Tempted To Buy Public Joint-Stock Company Interregional Distribution Grid Company of the North-West (MCX:MRKZ) Because Of Its PE Ratio?
Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for MRKZ Price per share = RUB0.05 Earnings per share = RUB0.011 ∴ Price-Earnings Ratio = RUB0.05 ÷ RUB0.011 = 4.7x The P/E ratio isn’t a metric you view in isolation and only becomes useful when you compare it against other similar companies. … For example, if you inadvertently compared lower risk firms with MRKZ, then investors would naturally value MRKZ at a lower price since it is a riskier investment. … Similarly, if you accidentally compared higher growth firms with MRKZ, investors would also value MRKZ at a lower price since it is a lower growth investment.
Simply Wall St - – Full articleCompany Info
Description
Public Joint-Stock Company Interregional Distribution Grid Company of the North-West owns and operates electric power transmission and distribution grids in the North-Western region of Russia. It operates through Transmission, Energy Retail, and Other segments. The company operates 167.8 thousand kilometers (km) of overhead transmission lines; 8.3 thousand km of cable power lines; and 1,172 substations. It also provides payment collection, power metering, and health and recreation services. The company was founded in 2004 and is headquartered in Saint Petersburg, Russia. Public Joint-Stock Company Interregional Distribution Grid Company of the North-West is a subsidiary of Rosseti, Public Joint Stock Company.
Details
| Name: | Public Joint-Stock Company Interregional Distribution Grid Company of the North-West |
| MRKZ | |
| Exchange: | MISX |
| Founded: | 2004 |
| RUB5,076,653,926 | |
| 95,785,923,138 | |
| Website: | http://www.mrsksevzap.ru |
| Address: |
Public Joint-Stock Company Interregional Distribution Grid Company of the North-West Constitution Square, 3A, Office 16N, Saint Petersburg, 196247, Russia |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| MISX | MRKZ | Ordinary Shares | Micex - Rts | RU | RUB | 28. May 2008 |
Number of employees
Current staff
Industry
| Electric Utilities | |
| Utilities |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/04/18 21:34 |
| End of day share price update: | 2019/04/18 00:00 |
| Last estimates confirmation: | 2019/04/05 |
| Last earnings filing: | 2019/03/19 |
| 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.
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