MISX:MSRS

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Moscow United Electric Grid

Executive Summary

Public Joint-Stock Company Moscow United Electric Grid Company, together with its subsidiaries, engages in the transmission of chargeable electricity through electrical networks primarily in Moscow, Russia.


Snowflake Analysis

Very undervalued with proven track record and pays a dividend.


Similar Companies

Share Price & News

How has Moscow United Electric Grid's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: MSRS's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

3.2%

MSRS

3.5%

RU Electric Utilities

2.5%

RU Market


1 Year Return

59.7%

MSRS

12.9%

RU Electric Utilities

1.3%

RU Market

Return vs Industry: MSRS exceeded the Russian Electric Utilities industry which returned 14.1% over the past year.

Return vs Market: MSRS exceeded the Russian Market which returned 1.5% over the past year.


Shareholder returns

MSRSIndustryMarket
7 Day3.2%3.5%2.5%
30 Day15.4%6.3%4.0%
90 Day7.6%-0.5%-3.3%
1 Year78.6%59.7%20.5%12.9%8.1%1.3%
3 Year62.2%33.4%37.5%16.6%61.2%35.2%
5 Year101.1%35.5%172.3%117.2%117.7%69.8%

Price Volatility Vs. Market

How volatile is Moscow United Electric Grid's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Moscow United Electric Grid 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: MSRS (RUB1.17) is trading below our estimate of fair value (RUB3.55)

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


Price To Earnings Ratio

PE vs Industry: MSRS is good value based on its PE Ratio (7x) compared to the Electric Utilities industry average (8.1x).

PE vs Market: MSRS is good value based on its PE Ratio (7x) compared to the Russian market (8.7x).


Price to Earnings Growth Ratio

PEG Ratio: MSRS is good value based on its PEG Ratio (0.5x)


Price to Book Ratio

PB vs Industry: MSRS is good value based on its PB Ratio (0.3x) compared to the RU Electric Utilities industry average (0.7x).


Next Steps

Future Growth

How is Moscow United Electric Grid forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

14.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MSRS's forecast earnings growth (14.2% per year) is above the savings rate (8.3%).

Earnings vs Market: MSRS's earnings (14.2% per year) are forecast to grow faster than the Russian market (10.7% per year).

High Growth Earnings: MSRS's earnings are forecast to grow, but not significantly.

Revenue vs Market: MSRS's revenue (6.7% per year) is forecast to grow faster than the Russian market (5.6% per year).

High Growth Revenue: MSRS's revenue (6.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MSRS's Return on Equity is forecast to be low in 3 years time (5.8%).


Next Steps

Past Performance

How has Moscow United Electric Grid performed over the past 5 years?

-10.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MSRS has high quality earnings.

Growing Profit Margin: MSRS's current net profit margins (5%) are higher than last year (4.1%).


Past Earnings Growth Analysis

Earnings Trend: MSRS's earnings have declined by -10.6% per year over the past 5 years.

Accelerating Growth: MSRS's earnings growth over the past year (23.1%) exceeds its 5-year average (-10.6% per year).

Earnings vs Industry: MSRS earnings growth over the past year (23.1%) exceeded the Electric Utilities industry 7.5%.


Return on Equity

High ROE: MSRS's Return on Equity (4.7%) is considered low.


Next Steps

Financial Health

How is Moscow United Electric Grid's financial position?


Financial Position Analysis

Short Term Liabilities: MSRS's short term assets (RUB24.0B) do not cover its short term liabilities (RUB70.6B).

Long Term Liabilities: MSRS's short term assets (RUB24.0B) do not cover its long term liabilities (RUB102.1B).


Debt to Equity History and Analysis

Debt Level: MSRS's debt to equity ratio (51.1%) is considered high.

Reducing Debt: MSRS's debt to equity ratio has increased from 46.6% to 51.1% over the past 5 years.

Debt Coverage: MSRS's debt is well covered by operating cash flow (31.3%).

Interest Coverage: MSRS's interest payments on its debt are well covered by EBIT (3.6x coverage).


Balance Sheet


Next Steps

Dividend

What is Moscow United Electric Grid's current dividend yield, its reliability and sustainability?

3.64%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: MSRS's dividend (3.64%) is higher than the bottom 25% of dividend payers in the Russian market (3.61%).

High Dividend: MSRS's dividend (3.64%) is low compared to the top 25% of dividend payers in the Russian market (9.06%).


Stability and Growth of Payments

Stable Dividend: MSRS's dividend payments have been volatile in the past 10 years.

Growing Dividend: MSRS's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (60.9%), MSRS's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: MSRS's dividends in 3 years are forecast to be covered by earnings (51.6% payout ratio).


Next Steps

Management

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

4.4yrs

Average board tenure


CEO

Peter Sinyutin (57yo)

7.17yrs

Tenure

Mr. Peter Alekseevich Sinyutin serves as Chairman and Member of Management Board at Open Joint-Stock Company Moscow United Electric Grid Company. Mr. Sinyutin serves as the General Director of Open Joint-S ...


Board Members

NamePositionTenureCompensationOwnership
Peter Sinyutin
Chairman of the Management Board7.17yrsno datano data
Anatoly Gavrilenko
Director15.17yrsno datano data
Andrey Mayorov
Director0.17yrno datano data
Aleksey Nuzhdov
Director9.92yrsno datano data
Sergey Sergeev
Director1.92yrsno datano data
Pavel Livinsky
Director6.92yrsno datano data
Sergey Nikitin
Independent Director6.92yrsno datano data
Evgeniy Logovinsky
Director0.17yrno datano data
Olga Sergeeva
Director1.92yrsno datano data
Larisa Romanovskaya
Director1.92yrsno datano data

4.4yrs

Average Tenure

47yo

Average Age

Experienced Board: MSRS's board of directors are considered experienced (4.4 years average tenure).


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 Moscow United Electric Grid Company's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Public Joint-Stock Company Moscow United Electric Grid Company
  • Ticker: MSRS
  • Exchange: MISX
  • Founded:
  • Industry: Electric Utilities
  • Sector: Utilities
  • Market Cap: ₽56.744b
  • Shares outstanding: 48.71b
  • Website: https://www.moesk.ru

Number of Employees


Location

  • Public Joint-Stock Company Moscow United Electric Grid Company
  • Building 3/2
  • 2nd Paveletskiy proezd
  • Moscow
  • 115114
  • Russia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MSRSMISX (Micex - Rts)YesCommon StockRURUBApr 2006

Biography

Public Joint-Stock Company Moscow United Electric Grid Company, together with its subsidiaries, engages in the transmission of chargeable electricity through electrical networks primarily in Moscow, Russia. It also installs, repairs, and maintains electrical equipment. The company offers connection services. Public Joint-Stock Company Moscow United Electric Grid Company is based in Moscow, Russia. Public Joint-Stock Company Moscow United Electric Grid Company operates as a subsidiary of Rosseti, Public Joint Stock Company 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/05/30 14:00
End of Day Share Price2020/05/29 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.