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Mosenergo

MISX:MSNG
Snowflake Description

Flawless balance sheet and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MSNG
MISX
RUB83B
Market Cap
  1. Home
  2. RU
  3. Utilities
Company description

Public Joint Stock Company Mosenergo engages in the generation of heat and electric power in the Moscow City and Moscow region. The last earnings update was 13 days ago. More info.


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MSNG Share Price and Events
7 Day Returns
0.6%
MISX:MSNG
0.9%
RU Electric Utilities
-0.9%
RU Market
1 Year Returns
-23.3%
MISX:MSNG
-9.4%
RU Electric Utilities
1.2%
RU Market
MSNG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Mosenergo (MSNG) 0.6% -0.6% 6.7% -23.3% 66.8% 171.8%
RU Electric Utilities 0.9% 0.5% 9.1% -9.4% 47.6% 86.1%
RU Market -0.9% -0.1% 6.4% 1.2% 31.6% 89.8%
1 Year Return vs Industry and Market
  • MSNG underperformed the Electric Utilities industry which returned -9.4% over the past year.
  • MSNG underperformed the Market in Russian Federation which returned 1.2% over the past year.
Price Volatility
MSNG
Industry
5yr Volatility vs Market

MSNG Value

 Is Mosenergo 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 Mosenergo 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 Mosenergo.

MISX:MSNG Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 16%
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:MSNG
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))
= 0.241 (1 + (1- 20%) (6.22%))
0.499
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 8.44% + (0.8 * 9.43%)
15.98%

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

The calculations below outline how an intrinsic value for Mosenergo 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:MSNG DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (RUB, Millions) Source Present Value
Discounted (@ 15.98%)
2019 14,519.53 Analyst x3 12,518.57
2020 13,954.23 Analyst x3 10,373.13
2021 13,149.34 Analyst x3 8,427.71
2022 12,573.53 Analyst x3 6,948.08
2023 13,420.14 Analyst x3 6,393.91
2024 13,605.69 Est @ 1.38% 5,588.97
2025 14,081.87 Est @ 3.5% 4,987.39
2026 14,783.42 Est @ 4.98% 4,514.30
2027 15,673.28 Est @ 6.02% 4,126.45
2028 16,730.52 Est @ 6.75% 3,797.77
Present value of next 10 years cash flows RUB67,676.29
MISX:MSNG DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= RUB16,730.52 × (1 + 8.44%) ÷ (15.98% – 8.44%)
RUB240,490.19
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= RUB240,490.19 ÷ (1 + 15.98%)10
RUB54,590.43
MISX:MSNG Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= RUB67,676.29 + RUB54,590.43
RUB122,266.72
Equity Value per Share
(RUB)
= Total value / Shares Outstanding
= RUB122,266.72 / 39,609.13
RUB3.09
MISX:MSNG Discount to Share Price
Calculation Result
Value per share (RUB) From above. RUB3.09
Current discount Discount to share price of RUB2.10
= -1 x (RUB2.10 - RUB3.09) / RUB3.09
31.9%

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

Current Discount
Amount off the current price Mosenergo is available for.
Intrinsic value
32%
Share price is RUB2.1 vs Future cash flow value of RUB3.09
Current Discount Checks
For Mosenergo to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Mosenergo's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Mosenergo's share price is below the future cash flow value, but not 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 Mosenergo's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Mosenergo's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
MISX:MSNG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in RUB RUB0.54
MISX:MSNG Share Price ** MISX (2019-03-20) in RUB RUB2.1
Russian Federation Electric Utilities Industry PE Ratio Median Figure of 33 Publicly-Listed Electric Utilities Companies 6.93x
Russian Federation Market PE Ratio Median Figure of 129 Publicly-Listed Companies 7.35x

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

** Primary Listing of Mosenergo.

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

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

= 2.1 ÷ 0.54

3.89x

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

  • Mosenergo is good value based on earnings compared to the RU Electric Utilities industry average.
  • Mosenergo is good value based on earnings compared to the Russian Federation market.
Price based on expected Growth
Does Mosenergo's expected growth come at a high price?
Raw Data
MISX:MSNG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 3.89x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
-2.5%per year
Russian Federation Electric Utilities Industry PEG Ratio Median Figure of 7 Publicly-Listed Electric Utilities Companies -0.43x
Russian Federation Market PEG Ratio Median Figure of 31 Publicly-Listed Companies 0.62x

*Line of best fit is calculated by linear regression .

MISX:MSNG PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 3.89x ÷ -2.5%

-1.57x

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

  • Mosenergo earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Mosenergo's assets?
Raw Data
MISX:MSNG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in RUB RUB6.99
MISX:MSNG Share Price * MISX (2019-03-20) in RUB RUB2.1
Russian Federation Electric Utilities Industry PB Ratio Median Figure of 38 Publicly-Listed Electric Utilities Companies 0.76x
Russian Federation Market PB Ratio Median Figure of 150 Publicly-Listed Companies 0.84x
MISX:MSNG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 2.1 ÷ 6.99

0.3x

* Primary Listing of Mosenergo.

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

  • Mosenergo is good value based on assets compared to the RU Electric Utilities industry average.
X
Value checks
We assess Mosenergo'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. Mosenergo has a total score of 4/6, 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.

MSNG Future Performance

 How is Mosenergo expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

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
-2.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Mosenergo expected to grow at an attractive rate?
  • Mosenergo's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 8.4%.
Growth vs Market Checks
  • Mosenergo's earnings are expected to decrease over the next 1-3 years, this is below the Russian Federation market average.
  • Mosenergo's revenue growth is positive but not above the Russian Federation market average.
Annual Growth Rates Comparison
Raw Data
MISX:MSNG Future Growth Rates Data Sources
Data Point Source Value (per year)
MISX:MSNG Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts -2.5%
MISX:MSNG Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 1.2%
Russian Federation Electric Utilities Industry Earnings Growth Rate Market Cap Weighted Average -0.4%
Russian Federation Electric Utilities Industry Revenue Growth Rate Market Cap Weighted Average 1.6%
Russian Federation Market Earnings Growth Rate Market Cap Weighted Average 3.1%
Russian Federation Market Revenue Growth Rate Market Cap Weighted Average 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
Raw Data
MISX:MSNG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in RUB Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
MISX:MSNG Future Estimates Data
Date (Data in RUB Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 209,071 16,891 2
2022-12-31 202,213 30,136 16,681 3
2021-12-31 197,010 29,721 15,744 4
2020-12-31 193,313 28,368 15,409 4
2019-12-31 187,770 27,647 12,728 4
MISX:MSNG Past Financials Data
Date (Data in RUB Millions) Revenue Cash Flow Net Income *
2018-12-31 198,870 35,595 21,405
2018-09-30 196,699 39,089 22,027
2018-06-30 199,543 39,882 25,523
2018-03-31 202,197 40,186 26,182
2017-12-31 196,056 42,067 24,802
2017-09-30 198,371 44,029 22,927
2017-06-30 199,068 34,514 17,943
2017-03-31 194,116 30,545 16,594
2016-12-31 190,656 31,690 13,438
2016-09-30 184,286 19,922 3,201
2016-06-30 178,429 24,271 9
2016-03-31 177,990 23,587 -1,015

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Mosenergo's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Mosenergo's revenue is expected to grow by 1.2% 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:MSNG Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Mosenergo Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

MISX:MSNG Future Estimates Data
Date (Data in RUB Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31 0.43 0.43 0.43 1.00
2021-12-31 0.39 0.39 0.39 1.00
2020-12-31 0.39 0.39 0.39 1.00
2019-12-31 0.35 0.35 0.35 1.00
MISX:MSNG Past Financials Data
Date (Data in RUB Millions) EPS *
2018-12-31 0.54
2018-09-30 0.56
2018-06-30 0.64
2018-03-31 0.66
2017-12-31 0.63
2017-09-30 0.58
2017-06-30 0.45
2017-03-31 0.42
2016-12-31 0.34
2016-09-30 0.08
2016-06-30 0.00
2016-03-31 -0.03

*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.
  • Mosenergo is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Mosenergo'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.
Mosenergo has a total score of 0/6, 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.

MSNG Past Performance

  How has Mosenergo 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 Mosenergo'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.
  • Mosenergo has delivered over 20% year on year earnings growth in the past 5 years.
  • Mosenergo's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Mosenergo's 1-year earnings growth is negative, it can't be compared to the RU Electric Utilities industry average.
Earnings and Revenue History
Mosenergo'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 Mosenergo Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

MISX:MSNG Past Revenue, Cash Flow and Net Income Data
Date (Data in RUB Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 198,870.00 21,405.00 15,871.00
2018-09-30 196,699.00 22,027.00 16,029.00
2018-06-30 199,543.00 25,523.00 15,960.00
2018-03-31 202,197.00 26,182.00 15,683.00
2017-12-31 196,056.00 24,802.00 15,879.00
2017-09-30 198,371.00 22,927.00 12,851.00
2017-06-30 199,068.00 17,943.00 14,952.00
2017-03-31 194,116.00 16,594.00 16,361.00
2016-12-31 190,656.00 13,438.00 15,893.00
2016-09-30 184,286.00 3,201.00 19,707.00
2016-06-30 178,429.00 9.00 17,998.00
2016-03-31 177,990.00 -1,015.00 18,088.00
2015-12-31 171,163.00 -1,796.00 18,227.00
2015-09-30 168,521.00 -1,475.00 17,003.00
2015-06-30 166,957.00 720.00 16,175.00
2015-03-31 164,075.00 150.00 15,212.00
2014-12-31 161,956.00 -2,645.00 14,720.00
2014-09-30 155,899.00 4,879.00 14,501.00
2014-06-30 158,324.00 7,114.00 14,487.00
2014-03-31 156,562.00 4,728.00 15,000.00
2013-12-31 156,546.00 7,449.00 14,376.00
2013-09-30 155,182.00 7,174.00 14,071.00
2013-06-30 153,474.00 6,331.00 13,503.00
2013-03-31 153,094.00 8,362.00 12,077.00
2012-12-31 157,783.00 6,313.00 11,883.00
2012-09-30 158,208.00 5,146.00 11,440.00
2012-06-30 157,559.00 7,537.00 11,103.00
2012-03-31 159,831.00 7,388.00 11,155.00

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

MSNG Health

 How is Mosenergo'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 Mosenergo's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Mosenergo is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Mosenergo's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Mosenergo'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 covered by short term assets, assets are 16.2x 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 Mosenergo Company Filings, last reported 2 months ago.

MISX:MSNG Past Debt and Equity Data
Date (Data in RUB Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 277,027.00 5,181.00 26,620.00
2018-09-30 271,795.00 11,362.00 33,450.00
2018-06-30 272,982.00 11,139.00 25,851.00
2018-03-31 279,094.00 16,270.00 26,836.00
2017-12-31 266,352.00 23,588.00 20,627.00
2017-09-30 258,379.00 24,300.00 27,499.00
2017-06-30 256,414.00 23,615.00 18,999.00
2017-03-31 256,795.00 43,074.00 29,523.00
2016-12-31 245,433.00 43,002.00 25,154.00
2016-09-30 238,899.00 45,244.00 16,362.00
2016-06-30 239,690.00 46,813.00 19,724.00
2016-03-31 240,106.00 48,542.00 14,227.00
2015-12-31 231,869.00 48,970.00 6,560.00
2015-09-30 243,293.00 49,793.00 14,903.00
2015-06-30 248,581.00 46,299.00 13,298.00
2015-03-31 249,128.00 47,989.00 7,675.00
2014-12-31 241,695.00 49,139.00 12,897.00
2014-09-30 250,268.00 51,121.00 8,633.00
2014-06-30 257,146.00 49,847.00 16,418.00
2014-03-31 263,398.00 32,156.00 5,202.00
2013-12-31 259,122.00 26,477.00 3,412.00
2013-09-30 208,634.00 18,215.00 6,156.00
2013-06-30 210,086.00 18,183.00 14,186.00
2013-03-31 212,991.00 18,413.00 18,963.00
2012-12-31 205,539.00 18,514.00 17,465.00
2012-09-30 202,260.00 18,949.00 20,520.00
2012-06-30 204,025.00 15,533.00 29,796.00
2012-03-31 205,335.00 10,916.00 19,658.00
  • Mosenergo's level of debt (1.9%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (10.2% vs 1.9% today).
  • Debt is well covered by operating cash flow (687%, greater than 20% of total debt).
  • Mosenergo earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Mosenergo'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. Mosenergo has a total score of 6/6, 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.

MSNG Dividends

 What is Mosenergo'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
7.89%
Current annual income from Mosenergo dividends. Estimated to be 6.35% next year.
If you bought RUB2,000 of Mosenergo shares you are expected to receive RUB158 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?
  • Mosenergo's pays a higher dividend yield than the bottom 25% of dividend payers in Russian Federation (3.09%).
  • Mosenergo's dividend is below the markets top 25% of dividend payers in Russian Federation (8.98%).
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:MSNG 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 4 Analyst Estimates (S&P Global) See Below
Russian Federation Electric Utilities Industry Average Dividend Yield Market Cap Weighted Average of 19 Stocks 6%
Russian Federation Market Average Dividend Yield Market Cap Weighted Average of 72 Stocks 6.2%
Russian Federation Minimum Threshold Dividend Yield 10th Percentile 1.5%
Russian Federation Bottom 25% Dividend Yield 25th Percentile 3.1%
Russian Federation Top 25% Dividend Yield 75th Percentile 9%

Industry and Market average data is calculated daily.

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

MISX:MSNG Future Dividends Estimate Data
Date (Data in RUB) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 0.21 1.00
2022-12-31 0.09 2.00
2021-12-31 0.14 3.00
2020-12-31 0.12 3.00
2019-12-31 0.16 1.00
MISX:MSNG Past Annualized Dividends Data
Date (Data in RUB) Dividend per share (annual) Avg. Yield (%)
2018-08-13 0.166 8.321
2018-03-12 0.166 6.615
2017-08-09 0.085 2.973
2017-05-10 0.085 3.556
2016-08-25 0.057 2.621
2016-04-29 0.057 3.519
2015-08-13 0.010 1.091
2015-06-10 0.010 1.112
2014-12-05 0.040 5.258
2014-06-09 0.040 5.065
2013-12-20 0.030 3.758
2013-08-30 0.030 3.168
2013-07-02 0.030 2.652
2013-04-02 0.030 2.550
2012-12-10 0.030 2.100
2012-08-31 0.030 2.259
2012-04-10 0.030 2.127
2011-12-15 0.020 1.094
2011-09-05 0.020 1.005
2011-06-24 0.020 0.845
2010-09-07 0.013 0.421
2010-07-30 0.013 0.396
2010-03-01 0.013 0.373
2010-01-25 0.000 0.000

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

  • Mosenergo 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 Mosenergo only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Mosenergo'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 (3.3x coverage).
X
Income/ dividend checks
We assess Mosenergo's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.5%) - 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 Mosenergo afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Mosenergo 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.

MSNG Management

 What is the CEO of Mosenergo'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
Vitaly Yakovlev
AGE 46
TENURE AS CEO 11 years
CEO Bio

Mr. Vitaly Georgievich Yakovlev serves as a General Director at TEK Mosenergo OAO. Mr. Yakovlev has been General Director and a Director of Open Joint Stock Company of Power and Electrification Mosenergo since March 31, 2008 and since 2008 respectively. Mr. Yakovlev served as a director of Public Joint Stock Company Mosenergo. Mr. Yakovlev served as Chairman of the Executive Board of Open Joint Stock Company of Power and Electrification Mosenergo.

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

Average tenure and age of the Mosenergo management team in years:

8.6
Average Tenure
50
Average Age
  • The average tenure for the Mosenergo management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Vitaly Yakovlev

TITLE
General Director
AGE
46
TENURE
11 yrs

E. Novenkova

TITLE
Chief Accountant

Ekaterina Pavlova

TITLE
Head of the Department of Investor Relations

Anna Efimova

TITLE
Deputy General Director of Legal Issues
AGE
43
TENURE
7 yrs

Elena Andreeva

TITLE
General Director of Sales
AGE
44
TENURE
10.2 yrs

Igor Goryunov

TITLE
Chief Engineer and First Deputy General Director
AGE
81

Aleksandr Butko

TITLE
MD & Director
AGE
54

Alexander Osyka

TITLE
Deputy General Director of Production & Acting General Director
AGE
65
TENURE
6.4 yrs

Ilya Malafeyev

TITLE
Head of the Procurement & Logistics Department

Pavel Grigoryev

TITLE
Head of the Tender Committee
Board of Directors Tenure

Average tenure and age of the Mosenergo board of directors in years:

10.8
Average Tenure
45
Average Age
  • The average tenure for the Mosenergo board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Kirill Seleznev

TITLE
Chairman
AGE
44

Aleksandr Butko

TITLE
MD & Director
AGE
54

Valery Golubev

TITLE
Director
AGE
66
TENURE
11.8 yrs

Pavel Shatsky

TITLE
Director
AGE
46

Valeriy Pyatnitsev

TITLE
Independent Director
AGE
42

Denis Fedorov

TITLE
Director
AGE
40
TENURE
10.8 yrs

Anatoly Gavrilenko

TITLE
Independent Director
AGE
46

Alexandr Ivannikov

TITLE
Director
AGE
52

Vladimir Pogrebenko

TITLE
Independent Director
AGE
40

Andrey Berezin

TITLE
Director
AGE
36
TENURE
4.8 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 Mosenergo'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. Mosenergo 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.

MSNG News

Simply Wall St News

Is It Too Late To Consider Buying Public Joint Stock Company Mosenergo (MCX:MSNG)?

Public Joint Stock Company Mosenergo (MCX:MSNG), which is in the electric utilities business, and is based in Russia,. … led the MISX gainers with a relatively large price hike in the past couple of weeks. … With many analysts covering the stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price?

Simply Wall St -

Is Public Joint Stock Company Mosenergo (MCX:MSNG) Potentially Underrated?

Public Joint Stock Company Mosenergo (MCX:MSNG) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … is a company that has been able to sustain great financial health, trading at an attractive share price

Simply Wall St -

Does The Public Joint Stock Company Mosenergo (MCX:MSNG) Share Price Fall With The Market?

If you're interested in Public Joint Stock Company Mosenergo (MCX:MSNG), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Every stock in the market is exposed to this volatility, which is linked to the fact that stocks prices are correlated in an efficient market. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility).

Simply Wall St -

Why Public Joint Stock Company Mosenergo’s (MCX:MSNG) Return On Capital Employed Might Be A Concern

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … Understanding Return On Capital Employed (ROCE). … ROCE is a metric for evaluating how much pre-tax income (in percentage terms) a company earns on the capital invested in its business.

Simply Wall St -

Does Public Joint Stock Company Mosenergo's (MCX:MSNG) Past Performance Indicate A Weaker Future?

When Public Joint Stock Company Mosenergo's (MCX:MSNG) announced its latest earnings (30 September 2018), I wanted to understand how these figures stacked up against its past performance. … The two benchmarks I used were Mosenergo's average earnings over the past couple of years, and its industry performance. … Furthermore, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 48%, indicating the rate at which MSNG is growing has slowed down

Simply Wall St -

Here's What Public Joint Stock Company Mosenergo's (MCX:MSNG) P/E Ratio Is Telling Us

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … We'll look at Public Joint Stock Company Mosenergo's (MCX:MSNG) P/E ratio and reflect on what it tells us about the company's share price. … Mosenergo has a price to earnings ratio of 3.39, based on the last twelve months.

Simply Wall St -

These Fundamentals Make Public Joint Stock Company Mosenergo (MCX:MSNG) Truly Worth Looking At

Attractive stocks have exceptional fundamentals. … In the case of Public Joint Stock Company Mosenergo (MCX:MSNG), there's … company with a

Simply Wall St -

At RUруб1.87, Is Public Joint Stock Company Mosenergo (MCX:MSNG) Worth Looking At Closely?

This high level of volatility gives investors the opportunity to enter into the stock, and potentially buy at an artificially low price? … A question to answer is whether Mosenergo's current trading price of RUB1.87 reflective of the actual value of the? … Let’s take a look at Mosenergo’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Does Public Joint Stock Company Mosenergo (MCX:MSNG)'s Capital Return Make The Cut?

and want a simplistic look at the return on Public Joint Stock Company Mosenergo (MCX:MSNG) stock. … This share represents a portion of capital used by the company to operate the business, and it is important the company is able to use the capital base efficiently to create adequate cash flows for you as an investor. … Therefore, looking at how efficiently Mosenergo is able to use capital to create earnings will help us understand your potential return.

Simply Wall St -

Want To Invest In Public Joint Stock Company Mosenergo (MCX:MSNG)? Here's How It Performed Lately

Below, I assess MSNG's latest performance announced on 30 June 2018 and evaluate these figures to its historical trend and industry movements. … Did MSNG beat its long-term earnings growth trend and its industry. … MSNG's trailing twelve-month earnings (from 30 June 2018) of RUруб25.51b has

Simply Wall St -

MSNG Company Info

Description

Public Joint Stock Company Mosenergo engages in the generation of heat and electric power in the Moscow City and Moscow region. It operates in two segments, Electric Energy and Heat Energy. The company owns 15 power plants with an operational capacity of approximately 12,873 megawatts of electricity; and 42,760 gigacalories/hour of heat capacity. It is also involved in the production, transmission, and distribution of heat and hot water; provision of repair and reconstruction services, as well as rental and maintenance services; and sale of feed water. In addition, the company provides design and construction management services. Public Joint Stock Company Mosenergo was founded in 1886 and is based in Moscow, Russia. Public Joint Stock Company Mosenergo is a subsidiary of Gazprom Energoholding LLC.

Details
Name: Public Joint Stock Company Mosenergo
MSNG
Exchange: MISX
Founded: 1886
RUB83,258,391,783
39,609,130,249
Website: http://www.mosenergo.ru
Address: Public Joint Stock Company Mosenergo
Building 101/3,
Prospekt Vernadskogo,
Moscow,
119526,
Russia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
MISX MSNG Ordinary Shares Micex - Rts RU RUB 28. Mar 1995
DB MRO ADR EACH REP 50 ORD RUB1 LVL1(BNY) Deutsche Boerse AG DE EUR 11. Aug 1997
OTCPK AOMO.Y ADR EACH REP 50 ORD RUB1 LVL1(BNY) Pink Sheets LLC US USD 11. Aug 1997
LSE AOMD ADR EACH REP 50 ORD RUB1 LVL1(BNY) London Stock Exchange GB USD 11. Aug 1997
Number of employees
Current staff
Staff numbers
8,390
Mosenergo employees.
Industry
Electric Utilities
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/20 21:25
End of day share price update: 2019/03/20 00:00
Last estimates confirmation: 2019/03/12
Last earnings filing: 2019/03/07
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.