OTCPK:JSFC.F

Stock Analysis Report

Executive Summary

Sistema Public Joint Stock Financial Corporation, together with its subsidiaries, operates in telecommunications, consumer retail, paper and packaging, agriculture, high-tech, real estate, healthcare, financials and hospitality businesses in Russia and internationally.

Snowflake

Fundamentals

Undervalued with reasonable growth potential.


Similar Companies

Share Price & News

How has Sistema Financial's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

9.1%

OTCPK:JSFC.F

0.2%

US Wireless Telecom

1.3%

US Market


1 Year Return

55.0%

OTCPK:JSFC.F

7.6%

US Wireless Telecom

2.0%

US Market

JSFC.F outperformed the Wireless Telecom industry which returned 6.9% over the past year.

JSFC.F outperformed the Market in United States of America which returned 1.7% over the past year.


Share holder returns

JSFC.FIndustryMarket
7 Day9.1%0.2%1.3%
30 Day28.3%2.0%3.9%
90 Dayn/a-0.7%3.4%
1 Year56.5%55.0%8.8%7.6%4.2%2.0%
3 Year-50.2%-56.4%35.8%30.6%47.2%37.6%
5 Year-67.5%-71.5%37.2%23.7%60.5%42.9%

Price Volatility Vs. Market

How volatile is Sistema Financial's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Sistema Financial undervalued based on future cash flows and its price relative to the stock market?

>50%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Sistema Financial's share price is below the future cash flow value, and at a moderate discount (> 20%).

Sistema Financial's share price is below the future cash flow value, and at a substantial discount (> 40%).


Price Based on Earnings

Sistema Financial is good value based on earnings compared to the US Wireless Telecom industry average.

Sistema Financial is good value based on earnings compared to the United States of America market.


Price Based on Expected Growth

Sistema Financial is good value based on expected growth next year.


Price Based on Value of Assets

Sistema Financial is overvalued based on assets compared to the US Wireless Telecom industry average.


Next Steps

Future Growth

How is Sistema Financial expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

38.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Sistema Financial's revenue is expected to grow by 2.4% yearly, however this is not considered high growth (20% yearly).

Sistema Financial's earnings are expected to grow significantly at over 20% yearly.

Sistema Financial's revenue growth is positive but not above the United States of America market average.

Sistema Financial's earnings growth is expected to exceed the United States of America market average.

Sistema Financial's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

Sistema Financial is expected to make outstanding use of shareholders’ funds in the future (Return on Equity greater than 40%).


Next Steps

Past Performance

How has Sistema Financial performed over the past 5 years?

4.3%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Sistema Financial's year on year earnings growth rate has been positive over the past 5 years.

Sistema Financial has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.

Sistema Financial has become profitable in the last year making it difficult to compare the US Wireless Telecom industry average.


Return on Equity

Whilst Sistema Financial has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.


Return on Assets

Sistema Financial used its assets more efficiently than the US Wireless Telecom industry average last year based on Return on Assets.


Return on Capital Employed

Sistema Financial has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Sistema Financial's financial position?


Financial Position Analysis

Sistema Financial's short term (1 year) commitments are greater than its holdings of cash and other short term assets.

Sistema Financial's long term commitments exceed its cash and other short term assets.


Debt to Equity History and Analysis

Sistema Financial's level of debt (1132%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has increased over the past 5 years (110% vs 1132% today).

Debt is not well covered by operating cash flow (13.9%, less than 20% of total debt).

Interest payments on debt are not well covered by earnings (EBIT is 1.8x annual interest expense, ideally 3x coverage).


Balance Sheet

High level of physical assets or inventory.

Debt is not covered by short term assets, assets are 0.5x debt.


Next Steps

Dividend

What is Sistema Financial's current dividend yield, its reliability and sustainability?

11.61%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Sistema Financial's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).

Sistema Financial's dividend is below the markets top 25% of dividend payers in United States of America (3.67%).

Sistema Financial 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 Sistema Financial only paid a dividend in the past 9 years.


Current Payout to Shareholders

Dividends paid are thoroughly covered by earnings (9.9x coverage).


Future Payout to Shareholders

Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.


Next Steps

Management

What is the CEO of Sistema Financial's salary, the management and board of directors tenure and is there insider trading?

1.5yrs

Average management tenure


CEO

Andrey Dubovskov (53yo)

1.5yrs

Tenure

0

Mr. Andrey Anatolyevich Dubovskov has been President, Chairman of the Management Board and Chief Executive Officer of Sistema Public Joint Stock Financial Corporation since March 13, 2018. He serves as the ...


Management Age and Tenure

1.5yrs

Average Tenure

51yo

Average Age

The average tenure for the Sistema Financial management team is less than 2 years, this suggests a new team.


Board Age and Tenure

6.3yrs

Average Tenure

63.5yo

Average Age

The tenure for the Sistema Financial board of directors is about average.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • Vsevolod Rozanov (48yo)

    Managing Partner & Member of Management Board

    • Tenure: 1.5yrs
  • Vladimir Evtushenkov (71yo)

    Founder & Chairman

    • Tenure: 13.6yrs
  • Andrey Dubovskov (53yo)

    Chairman of the Management Board

    • Tenure: 1.5yrs
  • Shishkin Anatolyevich (49yo)

    VP, Chief of Corporate Governance & Legal Department and Member of Management Board

    • Tenure: 3.8yrs
  • Ali Uzdenov (57yo)

    Managing Partner & Member of Management Board

    • Tenure: 1.5yrs
  • Oleg Mubarakshin (51yo)

    Managing Partner & Member of Management Board

    • Tenure: 1.5yrs
  • Alexey Katkov (39yo)

    Managing Partner & Member of Management Board

    • Tenure: 1.4yrs
  • Artem Sirazutdinov

    Managing Partner & Member of Management Board

    • Tenure: 1.5yrs
  • Vladimir Travkov

    VP, Chief of Financial & Investment Department and Member of Management Board

    • Tenure: 1.4yrs
  • Maxim Yanpolsky

    Managing Partner & Member of the Management Board

    • Tenure: 0yrs

Board Members

  • Ron Sommer (70yo)

    Non-Executive Director

    • Tenure: 2.3yrs
  • Mikhail Shamolin (49yo)

    Non-Executive Director

    • Tenure: 0yrs
  • Anna Belova (58yo)

    Deputy Chairman

    • Tenure: 0.3yrs
  • Vladimir Evtushenkov (71yo)

    Founder & Chairman

    • Tenure: 13.6yrs
  • Felix Vladimirovich (41yo)

    Non-Executive Director

    • Tenure: 4.1yrs
  • Sergey Boev (66yo)

    Non-Executive Director

    • Tenure: 6.3yrs
  • Andrey Dubovskov (53yo)

    Chairman of the Management Board

    • Tenure: 1.5yrs
  • Robert Kocharyan (65yo)

    Independent Director

    • Tenure: 10.3yrs
  • Roger Munnings (69yo)

    Independent Director

    • Tenure: 9.3yrs
  • David Iakobachvili (62yo)

    Independent Director

    • Tenure: 8.7yrs

Company Information

Sistema Public Joint Stock Financial Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Sistema Public Joint Stock Financial Corporation
  • Ticker: JSFC.F
  • Exchange: OTCPK
  • Founded: 1993
  • Industry: Wireless Telecommunication Services
  • Sector: Telecom
  • Market Cap: RUруб118.565b
  • Listing Market Cap: RUруб1.845b
  • Shares outstanding: 9.48b
  • Website: https://www.sistema.com

Location

  • Sistema Public Joint Stock Financial Corporation
  • Building 1
  • 13 Mokhovaya Street
  • Moscow
  • 125009
  • Russia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
JSFC.FOTCPK (Pink Sheets LLC)GDR (EACH REPR 20 ORD RUB0.09)(REGS)USUSDFeb 2005
SSALSE (London Stock Exchange)GDR (EACH REPR 20 ORD RUB0.09)(REGS)GBUSDFeb 2005
KO71DB (Deutsche Boerse AG)GDR (EACH REPR 20 ORD RUB0.09)(REGS)DEEURFeb 2005
SSALBATS-CHIXE (BATS 'Chi-X Europe')GDR (EACH REPR 20 ORD RUB0.09)(REGS)GBUSDFeb 2005
SSAWBAG (Wiener Boerse AG)GDR (EACH REPR 20 ORD RUB0.09)(REGS)ATEURFeb 2005
AFKSMISX (Micex - Rts)YesCommon SharesRURUBSep 2005

Biography

Sistema Public Joint Stock Financial Corporation, together with its subsidiaries, operates in telecommunications, consumer retail, paper and packaging, agriculture, high-tech, real estate, healthcare, fina ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/09/15 23:51
End of Day Share Price2019/09/12 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.