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VRSB

TNS energo Voronezh MISX:VRSB Stock Report

Last Price

₽166.00

Market Cap

₽9.3b

7D

0%

1Y

142.7%

Updated

28 Sep, 2022

Data

Company Financials
VRSB fundamental analysis
Snowflake Score
Valuation0/6
Future Growth0/6
Past Performance4/6
Financial Health3/6
Dividends2/6

VRSB Stock Overview

Public Joint-stock Company “TNS energo Voronezh” purchases and sells electricity to individuals in the retail electricity market of the region in Russia.

TNS energo Voronezh Competitors

Price History & Performance

Summary of all time highs, changes and price drops for TNS energo Voronezh
Historical stock prices
Current Share Price₽166.00
52 Week High₽384.00
52 Week Low₽67.40
Beta0.26
1 Month Change0%
3 Month Change2.60%
1 Year Change142.69%
3 Year Change226.77%
5 Year Change498.20%
Change since IPO970.97%

Recent News & Updates

Feb 21
TNS energo Voronezh (MCX:VRSB) Seems To Use Debt Quite Sensibly

TNS energo Voronezh (MCX:VRSB) Seems To Use Debt Quite Sensibly

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it might be obvious that you need to...

Shareholder Returns

VRSBRU Electric UtilitiesRU Market
7D0%0%0%
1Y142.7%-24.9%-36.4%

Return vs Industry: VRSB exceeded the Russian Electric Utilities industry which returned -24.9% over the past year.

Return vs Market: VRSB exceeded the Russian Market which returned -36.4% over the past year.

Price Volatility

Is VRSB's price volatile compared to industry and market?
VRSB volatility
VRSB Average Weekly Movementn/a
Electric Utilities Industry Average Movement4.0%
Market Average Movement5.3%
10% most volatile stocks in RU Market10.0%
10% least volatile stocks in RU Market2.7%

Stable Share Price: Insufficient data to determine VRSB's volatility over the past 3 months.

Volatility Over Time: Insufficient data to determine VRSB's volatility change over the past year.

About the Company

FoundedEmployeesCEOWebsite
1935728Yevgeniy Severginhttps://voronezh.tns-e.ru

Public Joint-stock Company “TNS energo Voronezh” purchases and sells electricity to individuals in the retail electricity market of the region in Russia. The Company also sells surplus electricity and capacity on the wholesale electricity market. As of December 31, 2020, it served 26,790 legal entities and 1,087,022 individuals.

TNS energo Voronezh Fundamentals Summary

How do TNS energo Voronezh's earnings and revenue compare to its market cap?
VRSB fundamental statistics
Market Cap₽9.32b
Earnings (TTM)₽401.66m
Revenue (TTM)₽32.20b

23.2x

P/E Ratio

0.3x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
VRSB income statement (TTM)
Revenue₽32.20b
Cost of Revenue₽17.60b
Gross Profit₽14.60b
Other Expenses₽14.20b
Earnings₽401.66m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)7.15
Gross Margin45.35%
Net Profit Margin1.25%
Debt/Equity Ratio110.0%

How did VRSB perform over the long term?

See historical performance and comparison

Dividends

2.4%

Current Dividend Yield

55%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

0/6

Valuation Score 0/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

VRSB key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue0.3x
Enterprise Value/EBITDA28.6x
PEG Ration/a

Price to Earnings Ratio vs Peers

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

VRSB PE Ratio vs Peers
The above table shows the PE ratio for VRSB vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average13x
MRKC Rosseti Centre
2.3xn/a₽10.4b
KCHE Kamchatskenergo
2.5xn/a₽7.9b
NNSB TNS energo Nizhny Novgorod
44.9xn/a₽7.1b
MRKU Interregional Distribution Grid Company of Urals
2.5xn/a₽13.3b
VRSB TNS energo Voronezh
23.2xn/a₽9.3b

Price-To-Earnings vs Peers: VRSB is expensive based on its Price-To-Earnings Ratio (23.2x) compared to the peer average (13x).


Price to Earnings Ratio vs Industry

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

Price-To-Earnings vs Industry: VRSB is expensive based on its Price-To-Earnings Ratio (23.2x) compared to the Russian Electric Utilities industry average (4.8x)


Price to Earnings Ratio vs Fair Ratio

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

VRSB PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio23.2x
Fair PE Ration/a

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


Share Price vs Fair Value

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

Below Fair Value: VRSB (RUB166) is trading above our estimate of fair value (RUB76.72)

Significantly Below Fair Value: VRSB is trading above our estimate of fair value.


Analyst Price Targets

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

Analyst Forecast: Insufficient data to show price forecast.


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Future Growth

How is TNS energo Voronezh forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


12.4%

Forecasted Utilities industry annual growth in earnings

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

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


Discover growth companies

Past Performance

How has TNS energo Voronezh performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


38.1%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: VRSB has a large one-off gain of RUB280.0M impacting its September 30 2021 financial results.

Growing Profit Margin: VRSB's current net profit margins (1.2%) are higher than last year (1%).


Past Earnings Growth Analysis

Earnings Trend: VRSB's earnings have grown significantly by 38.1% per year over the past 5 years.

Accelerating Growth: VRSB's earnings growth over the past year (39.2%) exceeds its 5-year average (38.1% per year).

Earnings vs Industry: VRSB earnings growth over the past year (39.2%) exceeded the Electric Utilities industry 28.2%.


Return on Equity

High ROE: Whilst VRSB's Return on Equity (40.2%) is outstanding, this metric is skewed due to their high level of debt.


Discover strong past performing companies

Financial Health

How is TNS energo Voronezh's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: VRSB's short term assets (RUB2.9B) do not cover its short term liabilities (RUB3.5B).

Long Term Liabilities: VRSB has no long term liabilities.


Debt to Equity History and Analysis

Debt Level: VRSB's net debt to equity ratio (51.9%) is considered high.

Reducing Debt: VRSB's debt to equity ratio has reduced from 228% to 110% over the past 5 years.

Debt Coverage: Insufficient data to determine if VRSB's debt is well covered by operating cash flow.

Interest Coverage: VRSB's interest payments on its debt are well covered by EBIT (3.3x coverage).


Balance Sheet


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Dividend

What is TNS energo Voronezh current dividend yield, its reliability and sustainability?

Dividend Score

2/6

Dividend Score 2/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


2.37%

Current Dividend Yield

Dividend Yield vs Market

TNS energo Voronezh Dividend Yield vs Market
How does TNS energo Voronezh dividend yield compare to the market?
SegmentDividend Yield
Company (TNS energo Voronezh)2.4%
Market Bottom 25% (RU)4.4%
Market Top 25% (RU)13.2%
Industry Average (Electric Utilities)8.3%
Analyst forecast in 3 Years (TNS energo Voronezh)n/a

Notable Dividend: VRSB's dividend (2.37%) isn’t notable compared to the bottom 25% of dividend payers in the Russian market (4.43%).

High Dividend: VRSB's dividend (2.37%) is low compared to the top 25% of dividend payers in the Russian market (13.15%).


Stability and Growth of Payments

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

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


Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (55.1%), VRSB's dividend payments are covered by earnings.


Cash Payout to Shareholders

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


Discover strong dividend paying companies

Management

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

1.5yrs

Average management tenure


CEO

Yevgeniy Severgin

1.67yrs

Tenure

Mr. Yevgeniy Mikhailovich Severgin serves as General Director and Director at Public Joint-stock Company "TNS energo Voronezh" (formerly known as Joint-stock company Voronezh energy selling company).


Leadership Team

Experienced Management: VRSB's management team is not considered experienced ( 1.5 years average tenure), which suggests a new team.


Board Members

Experienced Board: VRSB's board of directors are not considered experienced ( 1.7 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

What is the ownership structure of VRSB?
Owner TypeNumber of SharesOwnership Percentage
General Public3,099,5375.5%
Private Companies53,051,48794.5%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 1 shareholders own 94.48% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
94.48%
Sunflake Limited
53,051,487RUB8.8b0%no data

Company Information

Public Joint-stock Company "TNS energo Voronezh"'s employee growth, exchange listings and data sources


Key Information

  • Name: Public Joint-stock Company "TNS energo Voronezh"
  • Ticker: VRSB
  • Exchange: MISX
  • Founded: 1935
  • Industry: Electric Utilities
  • Sector: Utilities
  • Implied Market Cap: ₽9.321b
  • Shares outstanding: 56.15m
  • Website: https://voronezh.tns-e.ru

Number of Employees


Location

  • Public Joint-stock Company "TNS energo Voronezh"
  • Merkulova Street 7A
  • Voronezh
  • Voronezhskaya obl.
  • 394029
  • Russia


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
VRSBPMISX (Micex - Rts)RUB0.4 PRF(RUB)RURUBMar 2006
VRSBMISX (Micex - Rts)YesCommon SharesRURUBJun 2006

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/28 00:00
End of Day Share Price2022/07/08 00:00
Earnings2021/09/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.