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Inkab Holding (fiber optic cable) (INCB) USD

At a glance: strengths & risks
✓Margins improving (18%→21%)✗Revenue declining (-18%)✗Profit falling (-58%)✗High leverage (3.7x EBITDA)

Sector: Telecom Equipment / Manufacturing

RU_INCB

Price chart

67.44 RUBDay —

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
67.44 RUB
Market cap
95 mln USD

Growth

Δ revenue y/y
-17.8%
Δ EBITDA y/y
-6.5%

Multiples

P/E (LTM)
84.3x
P/B (FY)
2.5x
EV/EBITDA (LTM)
—

Cash return

Dividend yield
—
FCF yield (LTM)
—

Liquidity

Daily turnover
—

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
2025-12-31FY 2025 (12M)OK70.1
y/y -17.8%
10.8
y/y -3.7%
3.6
y/y -13.7%
14.4
y/y -6.5%
1.1
y/y -58.3%
15.4-580.0119.2
y/y 9.0%
37.9
y/y 3.8%
3.0%3758.0—
2024-12-31FY 2024 (12M)OK85.3
y/y —
11.2
y/y —
4.2
y/y —
15.4
y/y —
2.7
y/y —
12.6-480.0109.4
y/y —
36.5
y/y —
—3300.0—

Cash flow

FCF (₽ mln)

024682024 FY2025 FY

Net debt / cash (₽ mln)

01 0002 0003 0004 0002024 FY2025 FY

Profit and cash

Worth a look
In a typical year of 2024–2025 operating cash flow came to 9.22x of reported net profit; after capex, 4.34x.
year20242025
cash flow / profit4.69x13.75x
accruals, % of assets-9.1%-12.0%
Last twelve months (to 2025-12-31): 13.75x of profit came back as operating cash flow.
net debt / EBITDA 3.6x · capex 1.9x of depreciation
● Net debt / EBITDA 3.7x at the last full year.
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.

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
= —
-1
2. Current EV/EBITDA (LTM)
(Market cap + Net debt) ÷ EBITDA (LTM)
= (95 + 3 758) ÷ 14
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
= -458 + 0 + 0 − 0
-565
5. Value created per year
(EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap
= (-1 × 18.2 + -565) ÷ 95
≤-300.0%

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

Caveats:

  • FY-over-FY EBITDA growth (no interim signal): FY2025 vs FY2024

Dividends

No dividend rows found for this issuer.

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 Inkab Holding (fiber optic cable) (INCB) — from primary filings.

INCB (RU_INCB) is a Russian pharmaceutical company primarily engaged in the development, manufacturing, and marketing of generic drugs and active pharmaceutical ingredients.

Frequently asked questions

What is Inkab Holding (fiber optic cable) (INCB)'s P/E ratio?
Inkab Holding (fiber optic cable) (INCB) trades at a P/E of 84.3x (price to trailing 12-month earnings).
What is Inkab Holding (fiber optic cable) (INCB)'s EV/EBITDA?
Inkab Holding (fiber optic cable) (INCB) trades at 267.0x EV/EBITDA.
What is Inkab Holding (fiber optic cable) (INCB)'s P/B ratio?
Inkab Holding (fiber optic cable) (INCB) trades at a P/B of 2.5x.
What is Inkab Holding (fiber optic cable) (INCB)'s return on equity (ROE)?
Inkab Holding (fiber optic cable) (INCB)'s ROE is 3.0%.
What is Inkab Holding (fiber optic cable) (INCB)'s market capitalization?
Inkab Holding (fiber optic cable) (INCB)'s market cap is 95 mln USD.

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