KuibyshevAzot is a chemical company in Tolyatti producing caprolactam, polyamide and technical yarns, ammonia and nitrogen fertilizers.
Sector: Chemicals
RU_KAZT
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026-06-30 | H1 2026 (6M) | OK | 42.0 y/y -4.7% | 6.3 y/y 75.7% | 5.1 y/y 0.0% | 11.4 y/y 31.5% | 5.5 y/y 59.6% | 9.7 | -2.3 | 168.2 y/y 7.7% | 104.2 y/y 7.4% | 10.9% | -5.5 | Report (PDF) |
| 2025-12-31 | H2 2025 (6M) | OK | 40.2 y/y 7.6% | 3.0 y/y -45.2% | — y/y — | -2.1 y/y -124.5% | 2.2 y/y -61.9% | — | — | 143.5 y/y -10.7% | 98.4 y/y 4.2% | 5.8% | ≈ 11.8 | Evidence |
| 2025-06-30 | H1 2025 (6M) | OK | 44.1 y/y 1.0% | 3.6 y/y -36.2% | 5.1 y/y 89.4% | 8.7 y/y 4.2% | 3.5 y/y -47.6% | 12.7 | -3.9 | 156.1 y/y 32.2% | 97.0 y/y 8.0% | 7.2% | 5.8 | Report (PDF) |
| 2024-12-31 | H2 2024 (6M) | OK | 37.4 y/y -13.1% | 5.5 y/y -17.6% | 3.0 y/y 15.9% | 8.5 y/y -8.2% | 5.8 y/y 63.6% | 4.7 | -5.8 | 160.8 y/y — | 94.5 y/y — | 13.5% | 21.3 | Report (PDF) |
| 2024-06-30 | H1 2024 (6M) | OK | 43.6 y/y 15.0% | 5.6 y/y -40.7% | 2.7 y/y 41.0% | 8.3 y/y -27.1% | 6.6 y/y -28.2% | 4.7 | -3.7 | 118.1 y/y -1.9% | 89.8 y/y 4.6% | — | -3.1 | Evidence |
| 2023-12-31 | H2 2023 (6M) | PARTIAL | 43.0 y/y — | 6.6 y/y — | 2.6 y/y — | 9.2 y/y — | 3.6 y/y — | 4.9 | -3.0 | — y/y — | — y/y — | — | -9.1 | Evidence |
| 2023-06-30 | H1 2023 (6M) | OK | 37.9 y/y — | 9.5 y/y — | 1.9 y/y — | 11.4 y/y — | 9.2 y/y — | 2.8 | -3.5 | 120.3 y/y — | 85.8 y/y — | — | -11.3 | Evidence |
| Short-term debt (incl. ST leases) | 638 |
| Long-term debt (incl. LT leases) | 35 201 |
| − Cash & equivalents | 41 364 |
| Net debt | -5 525 |
|---|
Quarterly values (₽ mln)
Year-over-year change
FCF (₽ mln)
Net debt / cash (₽ mln)
| year | 2020 | 2021 | 2023 | 2024 |
|---|---|---|---|---|
| cash flow / profit | 11.40x | 1.22x | 0.60x | 0.75x |
| accruals, % of assets | -0.2% | — | — | 1.9% |
Our earnings breakdowns and investment notes on this issuer.
Potential discount −10% (factor 0.90)
This company's ranking potential is scaled down by a quality/governance factor from the signals below — de-prioritising 'cheap but problematic' names.
Current 2 786spot vs LTM +9%
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 3-year historical (p75) EV/EBITDA. Cash costs are indexed by RU inflation (~7%); a pure producer has no commodity cost driver to re-price.
USD/RUB: spot 86 vs LTM-avg 78 → ×1.10 (ruble weaker → more RUB revenue); applied to USD-priced commodities (RUB gold left as-is).
Upside (conservative): +81% · spot +103% · 3-yr +58%
How it is calculated — revenue → costs → EBITDA → conservative EBITDA → target market cap
| 1 · Reported baseline (LTM to 2025-06-30) | |
| Revenue | 81.4 bln RUB |
| EBITDA | 17.1 bln RUB |
| Cash costs (revenue − EBITDA) | 64.3 bln RUB |
| 2 · Revenue projection | |
| Multiplier — spot | ×1.25 (+25%) |
| = Spot revenue | 102.1 bln RUB |
| Multiplier — 3-yr prices | ×1.16 (+16%) |
| = 3-yr-price revenue | 94.5 bln RUB |
| 3 · Cost projection (+ RU inflation ~5%) | |
| Cost multiplier | ×1.05 (+5%) |
| = Cash costs | 67.5 bln RUB |
| 4 · EBITDA projection (revenue − costs) | |
| = Spot EBITDA | 34.6 bln RUB |
| = 3-yr-price EBITDA | 27.0 bln RUB |
| = Avg-scenario EBITDA (spot + 3-yr)/2 | 30.8 bln RUB |
| Conservative EBITDA = min(spot, avg(spot, 3-yr)) | 30.8 bln RUB |
| 5 · Valuation → target market cap | |
| EV/EBITDA (3y hist. p75) | 3.9x |
| Target EV = EV/EBITDA × conservative EBITDA | 121.5 bln RUB |
| Net debt (as of 2026-06-30) | 746 mln RUB |
| Target market cap = EV − net debt | 120.7 bln RUB |
| Current market cap | 66.8 bln RUB |
Upside = target market cap ÷ current − 1 = +81%
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) |
|---|---|---|---|---|---|---|
| Polyamide CFR Asia | 30% | 2 786.16 | 2 546.62 | +9% | +20% | +14% |
| AN (Black Sea) | 18% | 660.98 | 520.69 | +27% | +39% | +22% |
| Ammonia (Black Sea) | 17% | 406.00 | 360.71 | +13% | +23% | +20% |
| Urea (FOB China) | 11% | 400.00 | 369.47 | +8% | +19% | +16% |
| UAN (Black Sea) | 6% | 487.50 | 248.56 | +96% | +115% | +51% |
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.
Paid, trailing 12-mo: 4.00 RUB/sh · 1.1%
| Pay year | Dividend /sh | |
|---|---|---|
| 2025 | 6.50 ₽ | |
| 2024 | 22.00 ₽ | |
| 2023 | 49.00 ₽ | |
| 2022 | 32.40 ₽ | |
| 2021 | 16.85 ₽ | |
| 2019 | 7.00 ₽ | |
| 2018 | 5.00 ₽ | |
| 2017 | 2.00 ₽ |
| Period | Ex-date | /sh |
|---|---|---|
| 2025 q3 | 2025-09-22 | 4.00 ₽ |
| 2025 q2 | 2025-05-23 | 2.50 ₽ |
| 2024 q4 | 2024-12-02 | 7.00 ₽ |
| 2024 q2 | 2024-05-24 | 15.00 ₽ |
| 2023 q4 | 2023-12-11 | 14.00 ₽ |
| 2023 q2 | 2023-05-18 | 35.00 ₽ |
| 2022 q3 | 2022-09-29 | 15.00 ₽ |
| 2022 q2 | 2022-05-19 | 17.40 ₽ |
| 2021 q4 | 2021-12-20 | 10.00 ₽ |
| 2021 q2 | 2021-05-07 | 6.85 ₽ |
No dividend rows found for this issuer.
| 24.08.26 | Filing | ★ Совершение эмитентом сделки, в совершении которой имеется заинтересованность ПАО 'КуйбышевАзот' заключает крупную сделку с ООО 'Нитроком' на переработку сырья с максимальной стоимостью 7,94 млрд. руб. по Толлинговому Договору, сроком до 16.10.2036. Сделка одобрена общим собранием акционеров 15.05.2026. |
| 24.08.26 | Filing | ★ Совершение эмитентом существенной сделки ПАО 'КуйбышевАзот' заключит крупную сделку по Толлинговому Договору с ООО 'Нитроком', предусматривающую абонентскую плату до 7,9 млрд руб. в год. Срок исполнения обязательств - до 16.10.2036. Решение о сделке было принято советом директоров 09.04.2026. |
| 28.07.26 | Filing | ★ Созыв общего собрания участников (акционеров) ПАО «КуйбышевАзот» проведет внеочередное общее собрание акционеров с заочным голосованием 7 сентября 2026 года. Установлены цены выкупа акций: 412,06 руб. за обыкновенную и 419,17 руб. за привилегированную акцию. Срок для предъявления требований о выкупе акций истекает 22 октября 2026 года. |
| 27.08.26 | AGM / Board | Решения совета директоров (наблюдательного совета) Совет директоров ПАО 'КуйбышевАзот' единогласно одобрил сделку по приобретению доли участия в другой организации. Голосование по вопросу прошло 26 августа 2026 года с результатом 8 голосов 'за'. Условия сделки, включая цену, не раскрываются до её завершения. |
| 19.05.26 | AGM / Board | Решения общих собраний участников (акционеров) На годовом собрании акционеров ПАО «КуйбышевАзот» 15 мая 2026 года было утверждено распределение прибыли за 2025 год в размере 8 256,5 млн. руб. Дивиденды по итогам полугодия 2025 года не будут выплачены. Также были избраны новые члены совета директоров компании. |
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 KuybyshevAzot PAO (KAZT) — from primary filings.
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