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Acron (AKRN) USD

At a glance: strengths & risks
✓Revenue growing (+20%)✓Profit growing (+30%)✗Margins compressing (33%→26%)✗Pricier than own history (EV/EBITDA 160.9 vs avg 99.4)

Sector: Chemicals

RU_AKRN

Price chart

16 162 RUBDay 1.21%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
16 162 RUB · 1.21%
Market cap
8.3 bn USD

Growth

Δ revenue y/y
-22.5%
Δ EBITDA y/y
4.5%

Multiples

P/E (LTM)
21.2x
3y avg: 19.1x
P/B (FY)
2.7x
P/E (ann.)
55.5x
EV/EBITDA (LTM)
—
3y avg: 99.4x
EV/EBITDA (ann.)
153.4x

Cash return

Dividend yield
—
FCF yield (LTM)
-225.9%

Value creation

to target market cap (spot commodity model)
Upside (potential)
-47.1%
↓ details

Liquidity

Daily turnover (MOEX)
3.1 mln RUB

Shares: connector/market_inputs

Amounts: USD (converted) · As reported
Converted modes use NBK / ECB-linked rates: balance sheet date for BS items, period average for P&L and cash flow (see filing row evidence). As reported keeps each row in its filing currency.

Financial results

Monetary columns are in B USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueB USDOperating profitB USDD&AB USDEBITDAB USDNet profitB USDOperating CFB USDCapex + M&AB USDAssetsB USDEquityB USDROE (annualized)Net debtB USDSource
2026-03-31Q1 2026 (3M)OK0.7
y/y -22.5%
0.2
y/y -3.7%
0.1
y/y 34.7%
0.2
y/y 4.5%
0.0
y/y -81.5%
0.0-7.96.2
y/y 4.7%
3.1
y/y -1.3%
4.9%131.5Report (PDF)
2025-12-31Q4 2025 (3M)OK0.8
y/y 8.4%
0.1
y/y -70.4%
0.1
y/y 20.7%
0.1
y/y -55.3%
0.0
y/y -69.9%
0.2-16.65.9
y/y -4.6%
3.0
y/y 3.8%
18.1%——
2025-09-30Q3 2025 (3M)OK0.8
y/y 13.5%
0.2
y/y 4.5%
0.1
y/y 19.7%
0.3
y/y 7.2%
0.1
y/y 331.8%
0.2-14.55.9
y/y 8.5%
3.1
y/y 11.1%
3.8%123.4Report (PDF)
2025-06-30Q2 2025 (3M)OK0.8
y/y 29.1%
0.2
y/y 55.7%
0.1
y/y 7.1%
0.2
y/y 42.1%
0.2
y/y 29.0%
0.2-11.75.8
y/y 7.8%
3.1
y/y 13.2%
28.1%117.4Report (PDF)
2025-03-31Q1 2025 (3M)OK0.9
y/y 30.3%
0.2
y/y 6.9%
0.0
y/y 6.3%
0.2
y/y 6.7%
0.2
y/y 123.8%
0.2-11.85.9
y/y 13.5%
3.1
y/y 6.1%
26.8%112.6Report (PDF)
2024-12-31Q4 2024 (3M)OK0.8
y/y 12.8%
0.2
y/y 164.5%
0.0
y/y 15.2%
0.3
y/y 117.7%
0.1
y/y 1.2%
0.2-13.26.2
y/y 13.2%
2.9
y/y -9.2%
14.9%116.5Report (PDF)
2024-09-30Q3 2024 (3M)OK0.7
y/y 11.1%
0.2
y/y -34.4%
0.0
y/y 1.9%
0.3
y/y -30.0%
0.0
y/y -77.4%
0.1-11.45.4
y/y -2.6%
2.8
y/y -10.7%
1.0%118.7Report (PDF)
2024-06-30Q2 2024 (3M)OK0.6
y/y 26.7%
0.1
y/y -52.8%
0.0
y/y 11.2%
0.2
y/y -43.7%
0.2
y/y 286.0%
0.0-11.35.4
y/y 9.5%
2.8
y/y -8.3%
23.9%107.2Report (PDF)
2024-03-31Q1 2024 (3M)OK0.7
y/y -3.0%
0.2
y/y -55.1%
0.0
y/y -7.9%
0.2
y/y -49.6%
0.1
y/y -59.2%
0.0-10.75.2
y/y —
3.0
y/y —
11.7%86.8Report (PDF)
2023-12-31Q4 2023 (3M)OK0.7
y/y —
0.1
y/y —
0.0
y/y —
0.1
y/y —
0.1
y/y —
0.3-16.75.4
y/y —
3.2
y/y —
15.8%64.1Report (PDF)
2023-09-30Q3 2023 (3M)OK0.6
y/y —
0.3
y/y —
0.0
y/y —
0.4
y/y —
0.1
y/y —
0.1-11.15.5
y/y —
3.1
y/y —
4.0%72.5Report (PDF)
2023-06-30Q2 2023 (3M)OK0.5
y/y —
0.3
y/y —
0.0
y/y —
0.3
y/y —
0.0
y/y —
0.1-9.55.0
y/y —
3.0
y/y —
—72.5Report (PDF)
2023-03-31Q1 2023 (3M)PARTIAL0.7
y/y —
0.4
y/y —
0.0
y/y —
0.4
y/y —
0.2
y/y —
0.3-8.1—
y/y —
—
y/y —
—73.3Report (PDF)

Revenue & EBITDA

RevenueEBITDA

Quarterly values (₽ mln)

-50005001 0001 5002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Year-over-year change

-100%-50%0%50%100%2023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Cash flow

FCF (₽ mln)

-200-10001002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Net debt / cash (₽ mln)

050 000100 000150 0002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Key-commodity price — North America Fertilizer Index

Current 743spot vs LTM -2%

Commodity price upside

The same staged build as the commodity players: revenue → costs → EBITDA → conservative EBITDA (min of the spot case and the spot/3-yr average) → target market cap at the current EV/EBITDA. Cash costs are indexed by RU inflation (~7%); a pure producer has no commodity cost driver to re-price.

EV/EBITDA capped at 10x (actual 13.0× distorted by a low-EBITDA year).

Upside (conservative): -47% · spot -21% · 3-yr -74%

How it is calculated — revenue → costs → EBITDA → conservative EBITDA → target market cap

1 · Reported baseline (latest FY)
Revenue237.6 bln RUB
EBITDA61.3 bln RUB
Cash costs (revenue − EBITDA)176.4 bln RUB
2 · Revenue projection
Multiplier — spot×1.06 (+6%)
= Spot revenue251.1 bln RUB
Multiplier — 3-yr prices×0.91 (-9%)
= 3-yr-price revenue215.8 bln RUB
3 · Cost projection (+ RU inflation ~5%)
Cost multiplier×1.05 (+5%)
= Cash costs185.2 bln RUB
4 · EBITDA projection (revenue − costs)
= Spot EBITDA65.9 bln RUB
= 3-yr-price EBITDA30.6 bln RUB
= Avg-scenario EBITDA (spot + 3-yr)/248.3 bln RUB
Conservative EBITDA = min(spot, avg(spot, 3-yr))48.3 bln RUB
5 · Valuation → target market cap
EV/EBITDA (current, capped 10x)10.0x
Target EV = EV/EBITDA × conservative EBITDA482.9 bln RUB
Net debt131.5 bln RUB
Target market cap = EV − net debt351.4 bln RUB
Current market cap664.3 bln RUB

Upside = target market cap ÷ current − 1 = -47%

Product prices — move vs the LTM average; the 'RUB' columns include the USD/RUB move.

CommodityRevenue shareSpotLTM avg$ vs LTMRUB vs LTM (FX)RUB 3-yr (FX)
North America Fertilizer Index37%743.34760.53-2%-2%-15%
Ammonium nitrate (Black Sea)25%649.96573.55+13%+13%+0%
UAN (Black Sea)19%495.00375.13+32%+32%-11%
Urea (FOB China)11%403.50511.62-21%-21%-25%
Ammonia (Black Sea)6%317.12338.51-6%-6%+18%

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth +20% vs +10% the year before — a +9.5 pp move. 3-year CAGR -3%.
revenue growth by year: 2023 -30% · 2024 +10% · 2025 +20%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

Dividend potential

Illiquid — forecast not shown

The line trades very thinly (low average daily turnover), so the model dividend forecast is unreliable and is not shown. Actual (sporadic) payments are in the dividend-history card below.

Dividend history

Pay yearDividend /sh
2026235.00 ₽
2025534.00 ₽
2024427.00 ₽
2022240.00 ₽
2021780.00 ₽
2020432.00 ₽
2019366.00 ₽
2018337.00 ₽
Payments by period
PeriodEx-date/sh
2026 q32026-08-07235.00 ₽
2025 q22025-06-06534.00 ₽
2024 q22024-05-16427.00 ₽
2022 q12022-03-07240.00 ₽
2021 q42021-12-10750.00 ₽
2021 q22021-06-0430.00 ₽
2020 q22020-06-05432.00 ₽
2019 q42019-12-09101.00 ₽
2019 q22019-06-07135.00 ₽
2019 q12019-03-20130.00 ₽

Dividends

No dividend rows found for this issuer.

Corporate events

03.06.26AGM / Board★ ▼ Решения совета директоров (наблюдательного совета)
Совет директоров ПАО «Акрон» одобрил распределение прибыли за 2025 год, рекомендовав не выплачивать дивиденды, а оставить чистую прибыль в размере 52,4 млрд. руб. нераспределенной. Также рекомендовано выплатить дивиденды по части нераспределенной прибыли 2021 года в размере 235 руб. на акцию с датой определения прав на дивиденды 10 августа 2026 года.
03.06.26Filing★ ▼ Сообщение об отдельном виде инсайдерской информации
Комитет совета директоров ПАО «Акрон» рекомендовал не объявлять дивиденды по результатам 2025 года, оставив чистую прибыль в размере 52,4 млрд. руб. нераспределенной. Также предложено выплатить дивиденды по результатам 2021 года в размере 235 руб. на акцию с датой определения прав на получение дивидендов 10 августа 2026 года.
15.05.26Material event★ ▲ События (действия), оказывающие, по мнению эмитента, существенное влияние на стоимость или котировки его ценных бумаг
ПАО «Акрон» опубликовало финансовую информацию за первый квартал 2026 года, выручка составила 52 млрд руб. Важно также, что компания раскрыла операционные результаты и планирует дальнейшие действия, которые могут повлиять на стоимость ее ценных бумаг.
29.04.26Filing★ ▲ Присвоение или изменение рейтинга эмиссионных ценных бумаг эмитента рейтинговым агентством или иной организацией на основании договора
03.07.26AGM / BoardРешения общих собраний участников (акционеров)
На годовом собрании акционеров ПАО «Акрон» 30 июня 2026 года утверждены годовой отчет и финансовая отчетность за 2025 год. Дивиденды по итогам 2025 года не будут выплачиваться, а независимым членам Совета директоров установлено вознаграждение в размере 4 млн. руб. в год.

Source: e-disclosure material filings over the last 180 days; ★ — flagged important by the classifier; summaries are automatic.

Investment-community mentions

Substantive mentions last 7 days: 0, last 30 days: 0 across tracked channels, broker research and shows. 1 passing mentions (digests, calendars) hidden.

Sources: Telegram channels (bloggers — blue chip, broker research — green), YouTube shows via transcripts (orange). Tone (▲/▼) is an automatic assessment in the stock's context. Quotes are fragmentary; authors' views are not our recommendations.

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Acron (AKRN) — from primary filings.

AKRN is a Russian holding company primarily engaged in the production of mineral fertilizers, including nitrogen and phosphate-based products, for agricultural use.

Frequently asked questions

What is Acron (AKRN)'s P/E ratio?
Acron (AKRN) trades at a P/E of 21.2x (price to trailing 12-month earnings).
What is Acron (AKRN)'s EV/EBITDA?
Acron (AKRN) trades at 160.9x EV/EBITDA.
What is Acron (AKRN)'s P/B ratio?
Acron (AKRN) trades at a P/B of 2.7x.
What is Acron (AKRN)'s return on equity (ROE)?
Acron (AKRN)'s ROE is 4.9%.
What is Acron (AKRN)'s market capitalization?
Acron (AKRN)'s market cap is 8.3 bn USD.