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Evrotrans AO (EUTR) RUB

EuroTrans operates the Trassa network of filling stations in Moscow and Moscow region, wholesale fuel supply, an oil depot and a growing chain of electric-vehicle charging points.

At a glance: strengths & risks
✗Revenue declining (-29% y/y, H1 2026)✗Profit falling (-276% y/y, H1 2026)✗Margins compressing (10%→0%, H1 2026)✗High leverage (3.3x EBITDA)✗Pricier than own history (EV/EBITDA 7.8 vs avg 4.7)

Sector: Oil & Gas

RU_EUTR

Price chart

21.95 RUBDay -0.23%

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
21.95 RUB · -0.23%
Market cap
3.5 bn RUB

Growth

Δ revenue y/y
-28.5%
Δ EBITDA y/y
-99.0%

Multiples

P/E (LTM)
—
3y avg: 5.4x
P/B (FY)
0.1x
P/E (ann.)
<0
EV/EBITDA (LTM)
7.8x
3y avg: 4.7x
EV/EBITDA (ann.)
386.5x

Cash return

Dividend yield
41.7%
FCF yield (LTM)
-281.4%

Liquidity

Daily turnover (MOEX)
24.1 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 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.

DatePeriodStatusRevenueB RUBOperating profitB RUBD&AB RUBEBITDAB RUBNet profitB RUBOperating CFB RUBCapex + M&AB RUBAssetsB RUBEquityB RUBROE (annualized)Net debtB RUBSource
2026-06-30H1 2026 (6M)OK76.6
y/y -28.5%
-1.0
y/y -110.2%
1.1
y/y 21.9%
0.1
y/y -99.0%
-5.7
y/y -276.3%
-1.1-2.1149.7
y/y 26.1%
29.6
y/y -12.2%
-35.6%77.5Report (PDF)
2025-12-31H2 2025 (6M)OK158.6
y/y 52.7%
9.3
y/y 6.2%
0.9
y/y 13.0%
10.2
y/y 6.8%
1.6
y/y -52.9%
5.9-6.3141.1
y/y 35.8%
34.4
y/y 5.4%
14.1%68.3Report (PDF)
2025-06-30H1 2025 (6M)OK107.1
y/y 30.2%
9.3
y/y 53.5%
0.9
y/y -2.8%
10.2
y/y 46.3%
3.2
y/y 45.0%
1.9-8.4118.7
y/y 33.0%
33.7
y/y 17.5%
19.5%60.2Report (PDF)
2024-12-31H2 2024 (6M)OK103.9
y/y 27.8%
8.7
y/y 20.1%
0.8
y/y 26.5%
9.6
y/y 20.7%
3.3
y/y -12.4%
6.8-5.4103.9
y/y 22.2%
32.6
y/y 18.3%
18.1%46.7Report (PDF)
2024-06-30H1 2024 (6M)OK82.3
y/y 80.9%
6.1
y/y 63.4%
0.9
y/y 74.0%
7.0
y/y 64.7%
2.2
y/y 61.4%
11.1-9.089.2
y/y 41.6%
28.7
y/y 115.4%
15.8%43.6Report (PDF)
2023-12-31H2 2023 (6M)OK81.3
y/y —
7.3
y/y —
0.7
y/y —
7.9
y/y —
3.8
y/y —
0.5-10.585.0
y/y —
27.6
y/y —
25.2%28.8Report (PDF)
2023-06-30H1 2023 (6M)OK45.5
y/y —
3.7
y/y —
0.5
y/y —
4.2
y/y —
1.4
y/y —
-2.3-2.863.0
y/y —
13.3
y/y —
—27.4Report (PDF)

Revenue & EBITDA

RevenueEBITDA

Quarterly values (₽ mln)

050 000100 000150 000200 0002023 H12023 H22024 H12024 H22025 H12025 H22026 H1

Year-over-year change

-100%-50%0%50%100%2023 H12023 H22024 H12024 H22025 H12025 H22026 H1

Cash flow

Operating and investing cash flow (OCF + ICF) (₽ mln)

-10 000-7 500-5 000-2 50002 5002023 H12023 H22024 H12024 H22025 H12025 H22026 H1

Net debt / cash (₽ mln)

020 00040 00060 00080 0002023 H12023 FY2024 H12024 FY2025 H12025 FY2026 H1

Profit and cash

Profit is cash-backed
In a typical year of 2021–2025 operating cash flow came to 1.63x of reported net profit; after capex, -1.42x.
year20212022202320242025
cash flow / profit4.59x-5.73x-0.35x3.25x1.63x
accruals, % of assets-5.9%22.6%8.2%-12.0%-2.1%
net debt / EBITDA 3.4x · capex 6.4x of depreciation
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 −42% (factor 0.58)

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

Revenue growth & acceleration

Growth decelerating ▼
Last-year revenue growth +43% vs +47% the year before — a -4.1 pp move. 3-year CAGR +60%.
revenue growth by year: 2023 +95% · 2024 +47% · 2025 +43%
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 7.8x · 3-year 75th pct 5.3x

EV/EBITDA3-year 75th pct

Peer comparison

Group: Oil & Gas. Each peer is shown as it trades and re-priced onto this company's market (Russia) by the ratio of our coverage medians.

CompanyMarketCap, $bnEV/EBITDAEV/EBITDA, adjusted
Aker BPglobal26.03.2x1.5x
Occidental Petroleumglobal61.85.1x2.5x
LukoilRussia43.62.5x2.5x
GazpromRussia32.02.9x2.9x
TatneftRussia17.62.9x2.9x
RosneftRussia49.63.3x3.3x
ConocoPhillipsglobal182.47.4x3.6x
Gazprom NeftRussia33.04.2x4.2x
Chevronglobal420.88.7x4.2x
SantosAustralia20.99.6x4.4x
Exxon Mobilglobal744.210.5x5.1x
NovatekRussia42.68.5x8.5x
Group median4.7x3.4x
Group average5.7x3.8x
This companyRussia0.07.8x7.8x

Group median 4.7x as traded, 3.4x adjusted; this company 7.8x — a 129% premium.

Group average 5.7x as traded, 3.8x adjusted; against the average this company is at a 107% premium.

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

Special situation — model not applicable

Forecast dividend yield is abnormally high (>35%), flagging a one-time special, administratively frozen dividends, or a line that doesn't actually pay. The dividend-model upside is not shown for such names.

1 · Forecast dividend (per policy)
Smoothed net profit (median YTD-ann./LTM/FY)-4 bn RUB
Payout ratio43%
Free cash flow (FY, OCF − capex) — caps payout-7 bn RUB
Recent actual dividend (3-yr median)9.17 ₽
= Forecast dividend per share0.00 ₽
2 · Fair yield (spread to key rate)
CBR key rate14.0%
Historical yield spread to rate (3-yr median)+3.4 pp
= Fair dividend yield17.4%
3 · Valuation → upside
Current price22.30 ₽
Forecast dividend yield—
Fair price (dividend-based)—

Forecast, not investment advice. Earnings annualization and policy assumptions are estimates.

Dividend history

Paid, trailing 12-mo: 9.17 RUB/sh · 41.1%

Pay yearDividend /sh
20269.17 ₽
202531.85 ₽
202423.54 ₽
20238.88 ₽
Payments by period
PeriodLast day to buy/sh
2026 q12026-01-139.17 ₽
2025 q42025-10-178.18 ₽
2025 q32025-07-1617.19 ₽
2025 q12025-01-146.48 ₽
2024 q42024-10-174.32 ₽
2024 q32024-07-0819.22 ₽
2023 q42023-12-078.88 ₽

Dividends

No dividend rows found for this issuer.

Investment-community mentions

Substantive mentions last 7 days: 1, last 30 days: 6 (1 positive, 4 negative) across tracked channels, broker research and shows. 5 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.

Corporate events

19.06.26AGM / Board★ ▼ Решения общих собраний участников (акционеров)
На годовом собрании акционеров ПАО 'ЕвроТранс', состоявшемся 17 июня 2026 года, было принято решение не выплачивать дивиденды за 2025 год, так как чистая прибыль составила 4,8 млрд. руб. Также утверждены размеры вознаграждений для членов Совета директоров: 3,6 млн. руб. в год за исполнение обязанностей, 2,4 млн. руб. для заместителей и 5,4 млн. руб. для председателя.
21.05.26Filing★ ▼ Присвоение или изменение рейтинга эмитента рейтинговым агентством или иной организацией на основании договора
ПАО 'ЕвроТранс' отозвало свой кредитный рейтинг, который ранее был ruC с прогнозом 'развивающийся'. Изменение рейтинга произошло 20 мая 2026 года.
03.08.26AGM / BoardРешения совета директоров (наблюдательного совета)
Совет директоров ПАО 'ЕвроТранс' единогласно одобрил крупные сделки с 'Газпромбанк', включая Дополнительное соглашение № 27 к Договору об открытии кредитной линии, который был заключен в апреле 2022 года. Дата заседания совета директоров - 31.07.2026.
09.07.26BuybackСообщение об итогах приобретения эмитентом облигаций по требованию их владельцев
Компания 'Евротранс' приобрела 14 496 облигаций серии 003P-01 по требованию владельцев. Также владельцам облигаций был выплачен накопленный купонный доход на дату списания. Сделка была осуществлена в соответствии с решением о выпуске облигаций.

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 Evrotrans AO (EUTR) — from primary filings.

Frequently asked questions

What is Evrotrans AO (EUTR)'s EV/EBITDA?
Evrotrans AO (EUTR) trades at 7.8x EV/EBITDA.
What is Evrotrans AO (EUTR)'s P/B ratio?
Evrotrans AO (EUTR) trades at a P/B of 0.1x.
What is Evrotrans AO (EUTR)'s dividend yield?
Evrotrans AO (EUTR)'s trailing 12-month dividend yield is 41.7%.
What is Evrotrans AO (EUTR)'s return on equity (ROE)?
Evrotrans AO (EUTR)'s ROE is -35.6%.
What is Evrotrans AO (EUTR)'s market capitalization?
Evrotrans AO (EUTR)'s market cap is 3.5 bn RUB.

Bonds by this issuer

IssueYTMCouponPrice, %1DVolume today, ₽Avg vol. 20D, ₽Maturity
ЕвроТранс3—13.6%6.87-2.55%542K612K03.2027
ЕвроТранс7—24.5%5.10+2.62%726K958K03.2027
ЕвроТранс4—14%6.97-0.43%5K3K10.2029
ЕвроТранс5—25%4.63+0.87%170K498K10.2029
ЕвроТранс6—25%4.54-0.66%106K394K01.2030
ЕвроТранс8—21%3.88-0.77%308K1.1M09.2030
ЕвроТранс9—20%4.20-1.87%72K463K12.2030
ЕвТран2P1—15.5%3.72-1.33%519K477K02.2031
ЕвТрнс2P2—15.5%4.52+4.15%211K289K03.2031
ЕвТранс01—23%3.85-0.26%518K1.2M05.2032

Price, YTM and turnover from MOEX; 1D is the current price vs the previous session close; floaters have no fixed YTM. Not investment advice.

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