Sector: Mining
RU_ALRS
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.
Shares: connector/market_inputs
Monetary columns are in B RUB, 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.
| Date | Period | Status | RevenueB RUB | Operating profitB RUB | D&AB RUB | EBITDAB RUB | Net profitB RUB | Operating CFB RUB | Capex + M&AB RUB | AssetsB RUB | EquityB RUB | ROE (annualized) | Net debtB RUB | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025-12-31 | FY 2025 (12M) | OK | 235.1 y/y -1.7% | 32.8 y/y 7.5% | 36.3 y/y 6.6% | 69.1 y/y 7.0% | 36.2 y/y 88.3% | 35.8 | -49.4 | 699.5 y/y 6.2% | 406.7 y/y 10.2% | 9.3% | 90.0 | Report (PDF) |
| 2024-12-31 | H2 2024 (6M) | OK | 178.3 y/y -22.5% | 28.1 y/y -58.4% | 25.4 y/y — | 53.5 y/y -20.8% | 11.9 y/y -79.4% | -19.3 | -36.4 | 658.7 y/y 10.4% | 369.0 y/y -3.4% | 5.0% | 97.4 | Report (PDF) |
| 2024-06-30 | H1 2024 (6M) | OK | 60.8 y/y -34.3% | 2.5 y/y -93.7% | 8.7 y/y — | 11.1 y/y -71.4% | 7.3 y/y -73.0% | 60.6 | -22.6 | 599.4 y/y 2.3% | 404.2 y/y 6.7% | 3.7% | 17.5 | Report (PDF) |
| 2023-12-31 | H2 2023 (6M) | OK | 230.1 y/y — | 67.5 y/y — | — y/y — | 67.5 y/y — | 58.1 y/y — | 22.0 | -39.4 | 596.6 y/y — | 381.9 y/y — | 22.4% | 36.3 | Report (PDF) |
| 2023-06-30 | H1 2023 (6M) | OK | 92.5 y/y — | 38.8 y/y — | — y/y — | 38.8 y/y — | 27.1 y/y — | 43.9 | -24.3 | 586.0 y/y — | 378.9 y/y — | — | -5.5 | Report (PDF) |
Quarterly values (₽ mln)
Year-over-year change
FCF (₽ mln)
Net debt / cash (₽ mln)
Physical operating metrics — supplementary, not part of the financial statements
Diamonds
| Year | Reserves, Mct |
|---|---|
| 2023 | 1 108 |
| Year | Production, Mct |
|---|---|
| 2025 | 29.70 −10.0% |
| 2024 | 33 −4.6% |
| 2023 | 34.60 |
Alrosa FY2025 diamond output 29.7 Mct (-10% YoY; CEO Marinychev, 23 Dec 2025 / TASS / Reuters; low-margin deposits suspended Apr 2025). FY2024 ~33 Mct. Reserves ~1.108 billion carats — largest diamond reserves globally.
Current 84spot vs LTM -3%
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.
Upside (conservative): -32% · spot -32% · 3-yr +60%
How it is calculated — revenue → costs → EBITDA → conservative EBITDA → target market cap
| 1 · Reported baseline (latest FY) | |
| Revenue | 235.1 bln RUB |
| EBITDA | 69.1 bln RUB |
| Cash costs (revenue − EBITDA) | 166.0 bln RUB |
| 2 · Revenue projection | |
| Multiplier — spot | ×0.97 (-3%) |
| = Spot revenue | 227.9 bln RUB |
| Multiplier — 3-yr prices | ×1.16 (+16%) |
| = 3-yr-price revenue | 271.9 bln RUB |
| 3 · Cost projection (+ RU inflation ~5%) | |
| Cost multiplier | ×1.05 (+5%) |
| = Cash costs | 174.3 bln RUB |
| 4 · EBITDA projection (revenue − costs) | |
| = Spot EBITDA | 53.6 bln RUB |
| = 3-yr-price EBITDA | 97.6 bln RUB |
| = Avg-scenario EBITDA (spot + 3-yr)/2 | 75.6 bln RUB |
| Conservative EBITDA = min(spot, avg(spot, 3-yr)) | 53.6 bln RUB |
| 5 · Valuation → target market cap | |
| EV/EBITDA (current) | 4.2x |
| Target EV = EV/EBITDA × conservative EBITDA | 227.1 bln RUB |
| Net debt | 90.0 bln RUB |
| Target market cap = EV − net debt | 137.1 bln RUB |
| Current market cap | 202.8 bln RUB |
Upside = target market cap ÷ current − 1 = -32%
Product prices — move vs the LTM average; the 'RUB' columns include the USD/RUB move.
| Commodity | Revenue share | Spot | LTM avg | $ vs LTM | RUB vs LTM (FX) | RUB 3-yr (FX) |
|---|---|---|---|---|---|---|
| Diamond Prices Index | 100% | 83.68 | 86.55 | -3% | -3% | +16% |
Dividends suspended (~1.8 yr without a payout)
The company has not paid a dividend for over 18 months — profit is going to capex or deleveraging (e.g. Nornickel, NLMK, RusHydro, FSK). The forecast payout is zeroed until distributions resume; profit and cash flow may still be healthy.
| 1 · Forecast dividend (per policy) | |
| Smoothed net profit (median YTD-ann./LTM/FY) | 36 bn RUB |
| Payout ratio | 61% |
| Free cash flow (FY, OCF − capex) — not a cap (leverage 1.3x) | -14 bn RUB |
| Recent actual dividend (3-yr median) | 4.51 ₽ |
| = Forecast dividend per share | 0.00 ₽ |
| 2 · Fair yield (spread to key rate) | |
| CBR key rate | 14.2% |
| Historical yield spread to rate (3-yr median) | -11.2 pp |
| = Fair dividend yield | 10.8% |
| 3 · Valuation → upside | |
| Current price | 19.84 ₽ |
| Forecast dividend yield | — |
| Fair price (dividend-based) | 0.000 ₽ |
Forecast, not investment advice. Earnings annualization and policy assumptions are estimates.
| Pay year | Dividend /sh | |
|---|---|---|
| 2024 | 4.51 ₽ | |
| 2023 | 3.77 ₽ | |
| 2021 | 18.33 ₽ | |
| 2020 | 2.63 ₽ | |
| 2019 | 7.95 ₽ | |
| 2018 | 11.17 ₽ | |
| 2017 | 8.93 ₽ | |
| 2016 | 2.09 ₽ |
| Period | Ex-date | /sh |
|---|---|---|
| 2024 q4 | 2024-10-17 | 2.49 ₽ |
| 2024 q2 | 2024-05-30 | 2.02 ₽ |
| 2023 q4 | 2023-10-17 | 3.77 ₽ |
| 2021 q4 | 2021-10-15 | 8.79 ₽ |
| 2021 q2 | 2021-06-30 | 9.54 ₽ |
| 2020 q3 | 2020-07-09 | 2.63 ₽ |
| 2019 q4 | 2019-10-10 | 3.84 ₽ |
| 2019 q3 | 2019-07-11 | 4.11 ₽ |
| 2018 q4 | 2018-10-11 | 5.93 ₽ |
| 2018 q3 | 2018-07-11 | 5.24 ₽ |
No dividend rows found for this issuer.
| 02.04.26 | Filing | ★ Присвоение или изменение рейтинга эмитента рейтинговым агентством или иной организацией на основании договора Кредитный рейтинг эмитента АК «АЛРОСА» подтвержден на уровне ruAAA с прогнозом стабильным. Дата подтверждения рейтинга - 02.04.2026. |
| 10.07.26 | AGM / Board | Решения совета директоров (наблюдательного совета) Наблюдательный совет АК «АЛРОСА» (ПАО) провел заочное голосование 9 июля 2026 года, на котором избрал нового члена Правления с 10 июля 2026 года. Кворум для голосования был установлен, все 15 голосов были отданы 'За'. |
| 10.06.26 | AGM / Board | Решения общих собраний участников (акционеров) 10 июня 2026 года состоялось годовое собрание акционеров АК «АЛРОСА» (ПАО), на котором были приняты решения по 8 вопросам повестки дня, включая утверждение годового отчета и финансовой отчетности. Чистая прибыль за 2025 год в размере 29,96 млрд. руб. не была распределена, дивиденды не были объявлены. Также было решено выплатить вознаграждения членам Наблюдательного совета и Ревизионной комиссии за 2025-2026 корпоративный период. |
| 01.06.26 | Material event | События (действия), оказывающие, по мнению эмитента, существенное влияние на стоимость или котировки его ценных бумаг 29 мая 2026 года компания 'АЛРОСА' установила размер спреда для расчета дохода по биржевым облигациям серии 002Р-02 в размере 1,35% годовых. Это решение было принято Генеральным директором компании. Спред будет использоваться для расчета дохода по купонным периодам с 1 по 36 включительно. |
Source: e-disclosure material filings over the last 180 days; ★ — flagged important by the classifier; summaries are automatic.
Substantive mentions last 7 days: 0, last 30 days: 3 (2 negative) across tracked channels, broker research and shows. 9 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.
Investor reporting (IR): https://www.e-disclosure.ru/portal/files.aspx?id=199
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 Alrosa (ALRS) — from primary filings.
ALRS (ALROSA) is a Russian mining company primarily engaged in the exploration, extraction, and sale of rough diamonds.