Executive Summary
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.
Rewards
Risk Analysis
Snowflake Analysis
Undervalued with acceptable track record.
Similar Companies
Share Price & News
How has Interregional Distribution Grid Company of the North-West's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: MRKZ has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
1.3%
MRKZ
3.1%
RU Electric Utilities
2.0%
RU Market
1 Year Return
-4.2%
MRKZ
25.1%
RU Electric Utilities
24.5%
RU Market
Return vs Industry: MRKZ underperformed the Russian Electric Utilities industry which returned 25.1% over the past year.
Return vs Market: MRKZ underperformed the Russian Market which returned 24.5% over the past year.
Shareholder returns
| MRKZ | Industry | Market | |
|---|---|---|---|
| 7 Day | 1.3% | 3.1% | 2.0% |
| 30 Day | 1.4% | 3.7% | 1.4% |
| 90 Day | -18.7% | -1.4% | 5.7% |
| 1 Year | 1.7%-4.2% | 31.9%25.1% | 33.6%24.5% |
| 3 Year | -2.8%-11.1% | 8.3%-5.7% | 54.1%30.2% |
| 5 Year | 148.0%106.2% | 191.9%135.3% | 172.7%113.3% |
Price Volatility Vs. Market
How volatile is Interregional Distribution Grid Company of the North-West's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
Should You Worry About Public Joint-Stock Company Interregional Distribution Grid Company of the North-West’s (MCX:MRKZ) ROCE?Valuation
Is Interregional Distribution Grid Company of the North-West undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: MRKZ (RUB0.05) is trading below our estimate of fair value (RUB0.19)
Significantly Below Fair Value: MRKZ is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: MRKZ is good value based on its PE Ratio (4.3x) compared to the Electric Utilities industry average (7.3x).
PE vs Market: MRKZ is good value based on its PE Ratio (4.3x) compared to the Russian market (7.6x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate MRKZ's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: MRKZ is good value based on its PB Ratio (0.3x) compared to the RU Electric Utilities industry average (0.6x).
Next Steps
Future Growth
How is Interregional Distribution Grid Company of the North-West forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
-0.3%
Forecasted annual revenue growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: Insufficient data to determine if MRKZ's forecast earnings growth is above the savings rate (6.4%).
Earnings vs Market: Insufficient data to determine if MRKZ's earnings are forecast to grow faster than the Russian market
High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: MRKZ's revenue is expected to decline over the next 3 years (-0.3% per year).
High Growth Revenue: MRKZ's revenue is forecast to decline over the next 3 years (-0.3% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: MRKZ's Return on Equity is forecast to be low in 3 years time (5.8%).
Next Steps
Past Performance
How has Interregional Distribution Grid Company of the North-West performed over the past 5 years?
22.4%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: MRKZ has high quality earnings.
Growing Profit Margin: MRKZ became profitable in the past.
Past Earnings Growth Analysis
Earnings Trend: MRKZ has become profitable over the past 5 years, growing earnings by 22.4% per year.
Accelerating Growth: MRKZ has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: MRKZ has become profitable in the last year, making it difficult to compare its past year earnings growth to the Electric Utilities industry (-3.3%).
Return on Equity
High ROE: MRKZ's Return on Equity (5.9%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Interregional Distribution Grid Company of the North-West's financial position?
Financial Position Analysis
Short Term Liabilities: MRKZ's short term assets (RUB8.0B) do not cover its short term liabilities (RUB11.5B).
Long Term Liabilities: MRKZ's short term assets (RUB8.0B) do not cover its long term liabilities (RUB19.2B).
Debt to Equity History and Analysis
Debt Level: MRKZ's debt to equity ratio (79.6%) is considered high.
Reducing Debt: MRKZ's debt to equity ratio has reduced from 79.7% to 79.6% over the past 5 years.
Debt Coverage: MRKZ's debt is well covered by operating cash flow (35.9%).
Interest Coverage: MRKZ's interest payments on its debt are not well covered by EBIT (2.4x coverage).
Balance Sheet
Inventory Level: MRKZ has a high level of physical assets or inventory.
Debt Coverage by Assets: MRKZ's debt is not covered by short term assets (assets are 0.5x debt).
Next Steps
Dividend
What is Interregional Distribution Grid Company of the North-West's current dividend yield, its reliability and sustainability?
2.42%
Forecast Dividend Yield
Upcoming Dividend Payment
Purchase Interregional Distribution Grid Company of the North-West before the 'Buy Limit' to receive their next dividend payment.
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: Unable to evaluate MRKZ's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.
High Dividend: Unable to evaluate MRKZ's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if MRKZ's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if MRKZ's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: MRKZ is not paying a notable dividend for the Russian market.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of MRKZ's dividend in 3 years as they are not forecast to pay a notable one for the Russian market.
Next Steps
Management
What is the CEO of Interregional Distribution Grid Company of the North-West's salary, the management and board of directors tenure and is there insider trading?
1.0yrs
Average management tenure
CEO
Artyom Pidnik (36yo)
1.2yrs
Tenure
Mr. Artem Yurievich 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 J ...
Management Age and Tenure
1.0yrs
Average Tenure
48yo
Average Age
Experienced Management: MRKZ's management team is not considered experienced ( 1 years average tenure), which suggests a new team.
Board Age and Tenure
3.5yrs
Average Tenure
43yo
Average Age
Experienced Board: MRKZ's board of directors are considered experienced (3.5 years average tenure).
Insider Trading
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.
Management Team
Vladimir Gusev (69yo)
Member of Management Board & Adviser of Administration Department
- Tenure: 4.7yrs
Irina Zhdanova (56yo)
Chief Accountant and Head of the Department for Financial & Fiscal Accounting
- Tenure: 3.8yrs
Denis Yagodka (40yo)
First Deputy Director General of Chief Engineer & Member of Management Board
- Tenure: 0yrs
Artyom Pidnik (36yo)
Chairman of the Management Board & General Director
- Tenure: 1.2yrs
Nikolay Savin
Member of the management board & Deputy General Director for Investment Activities
- Tenure: 0.9yrs
Ludmila Shadrina
Member of the management board and Deputy General Director for Economics & Finance
- Tenure: 1.9yrs
Ludmila Vasinuyk
Head of the Shareholders & Investors Relations Department
- Tenure: 0yrs
Trofimova Mikhaylovna
Deputy General Director
- Tenure: 0.3yrs
Rudakov Stanislavovich
Deputy General Director of Corporate Governance & Member of Management Board
- Tenure: 0.3yrs
Svetlana Filatova
Member of Management Board and Deputy General Director for Development & Marketing of Services
- Tenure: 0.2yrs
Board Members
Roman Filkin (36yo)
Non-Executive Director
- Tenure: 8.5yrs
- Compensation: ₽761.54k
Lelekova Alekseevna (58yo)
Chairman of Audit Commission
- Tenure: 0yrs
Alexander Shevchuk (36yo)
Independent Director
- Tenure: 3.5yrs
- Compensation: ₽900.00k
Alexey Zharikov (49yo)
Non-Executive Director
- Tenure: 5.8yrs
- Compensation: ₽761.54k
Maria Stepanova (37yo)
Non-Executive Director
- Tenure: 4.5yrs
- Compensation: ₽761.54k
Oleg Fedorov (51yo)
Director
- Tenure: 2.5yrs
- Compensation: ₽830.77k
Maria Shvankova (37yo)
Non-Executive Director
- Tenure: 2.5yrs
- Compensation: ₽761.54k
Dmitry Akopyan (52yo)
Deputy Chairman of the Board
- Tenure: 0yrs
- Compensation: ₽659.34k
Olga Sergeeva (35yo)
Chairman of the Board
- Tenure: 1.5yrs
Leonid Akimov (54yo)
Director
- Tenure: 3.5yrs
- Compensation: ₽830.77k
Company Information
Public Joint-Stock Company Interregional Distribution Grid Company of the North-West's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Public Joint-Stock Company Interregional Distribution Grid Company of the North-West
- Ticker: MRKZ
- Exchange: MISX
- Founded: 2004
- Industry: Electric Utilities
- Sector: Utilities
- Market Cap: ₽4.938b
- Shares outstanding: 95.79b
- Website: https://www.mrsksevzap.ru
Location
- Public Joint-Stock Company Interregional Distribution Grid Company of the North-West
- Constitution Square, 3A
- Office 16N
- Saint Petersburg
- 196247
- Russia
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| MRKZ | MISX (Micex - Rts) | Yes | Ordinary Shares | RU | RUB | May 2008 |
Biography
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 ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/12/15 21:27 |
| End of Day Share Price | 2019/12/13 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2018/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.