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Henderson USD

Update

Re-runs extraction for each period with period-end year from max(2023, current year − 2) through the current year, oldest first (up to three reporting years). This can take a long time.

Sector: Retail

RU_HNFG

Price chart

352.8 RUBDay -0.62%

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
352.8 RUB · -0.62%
Market cap
200 mln USD

Growth

Δ revenue y/y
13.1%
Δ EBITDA y/y
5.9%

Multiples

P/E (LTM)
6.2x
3y avg: 8.9x
P/B (FY)
1.4x
P/E (ann.)
5.4x
EV/EBITDA (LTM)
—
3y avg: 90.8x
EV/EBITDA (ann.)
96.5x

Cash return

Dividend yield
8.2%
FCF yield (LTM)
—

Liquidity

Daily turnover (MOEX)
2.3 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.

🔍 Sanity check — subtotal consistency (Level-1 + Level-2) OK: 2 / Warn: 4 / Err: 3 / Autofix applied: 0
Port of PHP subtotal-total + sign-flip detection logic
PeriodIssues
2023-06-30 H1✓OK
2023-12-31 FY✓OK
2023-12-31 H2⚠Warn 1
2024-06-30 H1⚠Warn 1
2024-12-31 FY⚠Warn 2
2024-12-31 H2✗Errors 1Warn 1
2025-06-30 H1✗Errors 1Warn 3
2025-12-31 FY⚠Warn 2
2025-12-31 H2✗Errors 1Warn 1
✓ All checks pass · ⚠ Has warnings (review) · ✗ Has errors (needs fix) · ✓* Autofix applied (see evidence)

Financial dynamics

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
2025-12-31H2 2025 (6M)OK184.1
y/y 13.1%
43.2
y/y 0.4%
22.1
y/y 18.6%
65.3
y/y 5.9%
18.6
y/y -17.9%
49.9-1894.1371.4
y/y 17.4%
139.5
y/y 11.3%
24.1%12408.4Report (PDF)
2025-06-30H1 2025 (6M)OK151.7
y/y 17.1%
29.3
y/y -7.8%
20.3
y/y 15.1%
49.6
y/y 0.3%
13.5
y/y -32.7%
17.1-1577.9336.1
y/y 15.2%
127.5
y/y 13.2%
21.4%11309.8Report (PDF)
2024-12-31H2 2024 (6M)OK162.8
y/y 18.8%
43.0
y/y 6.2%
18.6
y/y 16.9%
61.7
y/y 9.2%
22.7
y/y -5.7%
38.8-993.5316.5
y/y 12.4%
125.3
y/y 14.4%
36.0%8978.4Report (PDF)
2024-06-30H1 2024 (6M)OK129.5
y/y 32.0%
31.8
y/y 35.9%
17.6
y/y 16.7%
49.4
y/y 28.3%
20.1
y/y 124.6%
21.4-936.3291.8
y/y 28.7%
112.6
y/y 128.7%
36.2%8987.4Report (PDF)
2023-12-31H2 2023 (6M)OK137.0
y/y —
40.5
y/y —
15.9
y/y —
56.5
y/y —
24.0
y/y —
37.7-664.1281.6
y/y —
109.5
y/y —
41.6%7097.4Report (PDF)
2023-06-30H1 2023 (6M)OK98.1
y/y —
23.4
y/y —
15.1
y/y —
38.5
y/y —
9.0
y/y —
25.6-692.3226.8
y/y —
49.2
y/y —
—10656.2Report (PDF)
Data quality No obvious scale, balance-sheet, or cash-flow sanity issues in the displayed periods.

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

0501001502002023 H12023 H22024 H12024 H22025 H12025 H2

Year-over-year change

0%10%20%30%2023 H12023 H22024 H12024 H22025 H12025 H2

Cash flow

FCF ($ mln)

-1001020302023 H12023 H22024 H12024 H22025 H12025 H2

Net debt / cash ($ mln)

02 5005 0007 50010 00012 5002023 H12023 FY2024 H12024 FY2025 H12025 FY

Dividend potential

Dividend-model upside: +30%

The payout is forecast from smoothed profit × payout ratio, capped by free cash flow (developers exempt — escrow) and floored at the recent actual dividend (companies hold payouts while profitable). Fair yield = key rate + the historical yield-spread to the rate (so growers that historically traded below the rate score higher). Upside = fair price / current − 1.

1 · Forecast dividend (per policy)
Smoothed net profit (median YTD-ann./LTM/FY)2 bn RUB
Payout ratio17%
Free cash flow (FY, OCF − capex) — caps payout1 bn RUB
Recent actual dividend (3-yr median)29.00 ₽
= Forecast dividend per share32.00 ₽
2 · Fair yield (spread to key rate)
CBR key rate14.5%
Historical yield spread to rate (3-yr median)-11.7 pp
= Fair dividend yield7.0%
3 · Valuation → upside
Current price352.80 ₽
Forecast dividend yield9.1%
Fair price (dividend-based)457 ₽

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

Fundamental value creation

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

Value created per year: ≤-300.0%

How this was calculated
1. EBITDA growth (latest quarter YoY, annualised)
[EBITDA latest qtr − EBITDA year-ago qtr] × annualisation X (2025-12-31 vs 2024-12-31)
= (65 − 62) × 1.76
2
2. Current EV/EBITDA (LTM)
(Market cap + Net debt) ÷ EBITDA (LTM)
= (200 + 12 408) ÷ 115
30.0x — capped at 30x
3. Target multiple
(Current EV/EBITDA + 6.5) ÷ 2
= (30.0 + 6.5) ÷ 2
18.2x
4. Cash flow (balance method, LTM)
Net-debt reduction + dividends + buybacks − equity issuance
= -3 430 + 0 + 0 − 0
-3 430
5. Value created per year
(EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap
= (2 × 18.2 + -3 430) ÷ 200
≤-300.0%

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

Caveats:

Dividends

No dividend rows found for this issuer.

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