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EuroElTech (EELT) USD

European Electrotechnics designs and supplies electrical and process equipment and turnkey engineering solutions for oil and gas, petrochemical and industrial customers.

At a glance: strengths & risks
✓Revenue growing (+47% y/y, H1 2026)✓Low leverage (0.3x EBITDA)✓Cheaper than own history (P/E 5.6 vs avg 9.4)✗Profit falling (-15% y/y, H1 2026)✗Margins compressing (12%→8%, H1 2026)

Sector: Machinery

RU_EELT

Price chart

7.92 RUBDay 0.25%

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
7.92 RUB · 0.25%
Market cap
54 mln USD

Growth

Δ revenue y/y
66.5%
Δ EBITDA y/y
15.7%

Multiples

P/E (LTM)
5.6x
3y avg: 9.4x
P/B (FY)
1.3x
P/E (ann.)
17.1x
EV/EBITDA (LTM)
—
3y avg: 6.2x
EV/EBITDA (ann.)
5.7x

Cash return

Dividend yield
10.7%
FCF yield (LTM)
—

Value creation

fundamental value/yr, % of market cap
Value created / year
-15.6%
↓ details

Liquidity

Daily turnover (MOEX)
0.4 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 M 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.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-06-30Q2 2026 (3M)OK64.0
y/y 66.5%
4.2
y/y 15.7%
1.0
y/y 15.5%
5.2
y/y 15.7%
1.6
y/y -3.1%
-17.4-0.7113.3
y/y 27.1%
38.9
y/y 13.4%
7.9%26.5Report (PDF)
2025-12-31Q4 2025 (3M)OK52.1
y/y 210.1%
5.3
y/y 88.3%
0.5
y/y -13.6%
5.8
y/y 72.4%
3.4
y/y -19.3%
4.6-1.1115.6
y/y 98.5%
41.3
y/y 55.9%
24.9%5.0Report (PDF)
2025-09-30Q3 2025 (3M)OK29.9
y/y 24.0%
3.7
y/y -17.3%
0.5
y/y 64.6%
4.1
y/y -12.4%
2.5
y/y 453.1%
3.5-0.694.8
y/y 21.2%
36.5
y/y 27.3%
9.5%7.3Report (PDF)
2025-06-30Q2 2025 (3M)OK40.7
y/y —
3.8
y/y —
0.9
y/y —
4.8
y/y —
1.7
y/y —
0.9-0.889.1
y/y —
34.3
y/y —
10.7%10.8Report (PDF)
2024-12-31Q4 2024 (3M)OK17.5
y/y -30.7%
2.9
y/y 38.5%
0.5
y/y 79.5%
3.5
y/y 43.4%
4.0
y/y 152.8%
2.1-0.458.2
y/y -4.0%
26.5
y/y 10.4%
27.5%10.3Report (PDF)
2024-09-30Q3 2024 (3M)OK24.1
y/y 77.6%
4.4
y/y 95.8%
0.3
y/y -4.4%
4.7
y/y 84.3%
0.5
y/y -75.9%
7.2-0.678.2
y/y 65.9%
28.7
y/y 26.9%
2.2%6.5Report (PDF)
2024-06-30Q2 2024 (3M)OK20.2
y/y —
2.4
y/y —
0.3
y/y —
2.7
y/y —
1.9
y/y —
-7.5-1.065.5
y/y —
26.4
y/y —
—14.6Report (PDF)
2024-03-31Q1 2024 (3M)PARTIAL13.7
y/y —
1.8
y/y —
0.3
y/y —
2.2
y/y —
1.1
y/y —
-9.1-1.0—
y/y —
—
y/y —
—5.1Report (PDF)
2023-12-31Q4 2023 (3M)OK25.3
y/y —
2.1
y/y —
0.3
y/y —
2.4
y/y —
1.6
y/y —
-0.1-0.260.7
y/y —
24.0
y/y —
35.7%-3.4Report (PDF)
2023-09-30Q3 2023 (3M)OK13.6
y/y —
2.3
y/y —
0.3
y/y —
2.6
y/y —
1.9
y/y —
-0.9-0.147.2
y/y —
22.6
y/y —
11.1%-0.9Report (PDF)
2023-06-30Q2 2023 (3M)PARTIAL28.4
y/y —
5.3
y/y —
0.6
y/y —
5.8
y/y —
4.4
y/y —
4.8-0.351.9
y/y —
22.8
y/y —
—-7.4Report (PDF)

Net debt structure (leases included, IFRS 16) 2026-06-30

Short-term debt (incl. ST leases)28
Long-term debt (incl. LT leases)4
− Cash & equivalents5
Net debt27

Net debt / LTM EBITDA: 1.5x

Conversion to USD. Balance sheet: rate effective on 2026-06-30, fixing date 2026-06-30. Flows: sampled average at each calculation period's bounds and monthly 15ths. Latest source row: 2026-01-01 — 2026-06-30. Source: Bank of Russia R01235. Rates

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

0204060802023 q32023 q42024 q12024 q22024 q32024 q42025 H12025 q32025 q42026 H1

Year-over-year change

-50%0%50%100%150%2023 q32023 q42024 q12024 q22024 q32024 q42025 H12025 q32025 q42026 H1

Cash flow

Cash flow (OCF + ICF; OCF − capex when ICF is unavailable) ($ mln)

-20-15-10-505102023 q32023 q42024 q12024 q22024 q32024 q42025 H12025 q32025 q42026 H1

Net debt / cash ($ mln)

-1001020302023 q32023 q42024 q12024 q22024 q32024 q42025 q22025 q32025 q42026 H1

Profit and cash

Worth a look
In a typical year of 2021–2025 operating cash flow came to 0.83x of reported net profit; after capex, 0.81x.
year20212022202320242025
cash flow / profit1.50x0.83x-0.07x-0.92x1.31x
accruals, % of assets-5.1%4.2%13.7%22.9%-2.8%
Last twelve months (to H1 2026): -0.42x of profit came back as operating cash flow.
net debt / EBITDA 0.3x · EBIT covers interest 4.8x · capex 1.4x of depreciation · dividends 123% of free cash flow
● In a typical year operating cash flow covered 83% of reported profit (5 profitable years).
● Dividends were 123% of the free cash flow earned over the window.
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Research & reviews

Our earnings breakdowns and investment notes on this issuer.

All research →

Quality / corporate governance

Potential discount −18% (factor 0.82)

This company's ranking potential is scaled down by a quality/governance factor from the signals below — de-prioritising 'cheap but problematic' names.

Fundamental value creation

Value the company creates per year, as a % of market cap

Value created per year: -15.6%

How this was calculated
1. EBITDA growth (latest quarter YoY, annualised)
[EBITDA latest qtr − EBITDA year-ago qtr] × annualisation X
= —
1
2. Current EV/EBITDA (LTM)
(Market cap + Net debt) ÷ EBITDA (LTM)
= (54 + 27) ÷ 18
4.5x
3. Target multiple
(Current EV/EBITDA + 6.5) ÷ 2
= (4.5 + 6.5) ÷ 2
5.5x
4. Cash flow (balance method, LTM)
Net-debt reduction + dividends + buybacks − equity issuance
= -16 + 3 + 0 − 0
-12
5. Value created per year
(EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap
= (1 × 5.5 + -12) ÷ 54
-15.6%

Amounts in millions of the reporting currency. EBITDA growth is the latest quarter vs the same quarter a year ago, annualised.

Caveats:

  • LTM EBITDA = FY2025 + H12026 - H12025 (cumulative-YTD reporter); ΔEBITDA vs prior full year
  • cash flow = net-debt reduction + dividends + buybacks (balance method)

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth +42% vs +17% the year before — a +25.6 pp move. 3-year CAGR +12%.
revenue growth by year: 2023 -17% · 2024 +17% · 2025 +42%
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).

EV/EBITDA — daily history

Current 4.4x · 3-year 75th pct 7.3x

EV/EBITDA3-year 75th pct

Peer comparison

Group: industrials (Russia). Every peer trades on the same market, so no adjustment is needed.

CompanyMarketCap, $bnEV/EBITDA
AeroflotRussia1.73.5x
SCF GroupRussia2.54.4x
FESCORussia2.610.8x
SollersRussia0.111.5x
KamazRussia0.545.0x
Group median10.8x
Group average15.0x
This companyRussia0.14.4x

Group median 10.8x; this company 4.4x — a 59% discount.

Group average 15.0x; against the average this company is at a 71% discount. The average sits 39% above the median: Kamaz (45.0x) skews the group.

At the adjusted group median the market cap would be +159% versus today.

The gap and the implied upside are measured against the median: one richly priced peer moves an average, not a median. The market adjustment uses our coverage medians (US 20.9x, Russia 3.7x, South Africa 5.0x, Kazakhstan 4.7x, India 18.8x, Indonesia 5.1x); it is about where a name is listed, not what it does. Peer multiples come from the nightly rebuild of 2026-10-22; the company's own is live.

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

Paid, trailing 12-mo: 0.85 RUB/sh · 10.8%

Pay yearDividend /sh
20260.85 ₽
20250.26 ₽
20240.14 ₽
20231.18 ₽
20220.31 ₽
20210.27 ₽
20200.32 ₽
20190.10 ₽
Payments by period
PeriodLast day to buy/sh
2026 q32026-07-060.60 ₽
2026 q12026-01-140.25 ₽
2025 q32025-07-150.26 ₽
2024 q32024-07-090.14 ₽
2023 q42023-12-150.43 ₽
2023 q32023-07-050.75 ₽
2022 q42022-10-100.31 ₽
2021 q32021-07-070.27 ₽
2020 q42020-11-190.32 ₽
2019 q32019-07-150.10 ₽

Dividends

No dividend rows found for this issuer.

Corporate events

30.06.26AGM / BoardРешения общих собраний участников (акционеров)
На годовом собрании акционеров ПАО «Европейская Электротехника» 29.06.2026 было утверждено распределение прибыли, включая дивиденды в размере 0,60 руб. на акцию, с общей суммой выплат 331,1 млн. руб. Также избраны члены Совета директоров и Ревизионной комиссии, а аудитором на 2026 год назначена организация 'Деловые Решения и Технологии'.
04.06.26AGM / BoardРешения совета директоров (наблюдательного совета)
Совет директоров ПАО «Европейская Электротехника» рекомендовал выплатить дивиденды в размере 0,60 руб. на акцию, общей суммой 331,1 млн. руб., с учетом чистой прибыли за 2025 год. Дата определения прав на получение дивидендов назначена на 07 июля 2026 года.

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

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 EuroElTech (EELT) — from primary filings.

Frequently asked questions

What is EuroElTech (EELT)'s P/E ratio?
EuroElTech (EELT) trades at a P/E of 5.6x (price to trailing 12-month earnings).
What is EuroElTech (EELT)'s P/B ratio?
EuroElTech (EELT) trades at a P/B of 1.3x.
What is EuroElTech (EELT)'s dividend yield?
EuroElTech (EELT)'s trailing 12-month dividend yield is 10.7%.
What is EuroElTech (EELT)'s return on equity (ROE)?
EuroElTech (EELT)'s ROE is 7.9%.
What is EuroElTech (EELT)'s market capitalization?
EuroElTech (EELT)'s market cap is 54 mln USD.

See also: The Cheapest Stocks in the World (2026): What Value Investing Says About Buying Cheap · global valuation map