Frontierby eninvs

Language: EN · RU

← Region

Lenta RUB

Lenta is a Russian food retailer operating hypermarkets, supermarkets and, after acquiring Monetka, a large chain of convenience stores across the country.

At a glance: strengths & risks
✓Revenue growing (+26% y/y, H1 2026)✓Low leverage (0.4x EBITDA)✗Profit falling (-25% y/y, H1 2026)✗Pricier than own history (EV/EBITDA 4.0 vs avg 2.4)

Sector: Retail

RU_LENT

Price chart

1 768 RUBDay -0.31%

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
1 768 RUB · -0.31%
Market cap
205.1 bn RUB

Growth

Δ revenue y/y
26.2%
Δ EBITDA y/y
11.9%

Multiples

P/E (LTM)
6.6x
3y avg: 6.4x
P/B (FY)
1.1x
P/E (ann.)
9.6x
EV/EBITDA (LTM)
4.0x
3y avg: 2.4x
EV/EBITDA (ann.)
4.1x

Cash return

Dividend yield
—
FCF yield (LTM)
18.7%

Value creation

fundamental value/yr, % of market cap
Value created / year
-73.4%
↓ details

Liquidity

Daily turnover (MOEX)
142.7 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)OK648.5
y/y 26.2%
31.7
y/y -0.2%
26.6
y/y 30.7%
58.3
y/y 11.9%
10.7
y/y -25.5%
20.0-30.0689.3
y/y 38.5%
190.7
y/y 16.8%
—276.7Report (PDF)
2026-03-31Q1 2026 (3M)PARTIAL—
y/y —
—
y/y —
—
y/y —
—
y/y —
—
y/y —
10.0-14.7—
y/y —
—
y/y —
—≈ 48.8Report (PDF)
2025-12-31H2 2025 (6M)OK589.7
y/y 24.2%
38.5
y/y 25.9%
22.4
y/y 24.4%
60.9
y/y 25.4%
20.5
y/y 68.1%
66.6-25.7604.5
y/y 22.0%
180.1
y/y 20.8%
20.3%48.8Report (PDF)
2025-06-30H1 2025 (6M)OK513.9
y/y 24.3%
31.8
y/y 42.8%
20.3
y/y 17.7%
52.1
y/y 31.8%
14.3
y/y 39.7%
26.0-22.7497.7
y/y 11.0%
163.3
y/y 19.4%
18.3%69.2Report (PDF)
2024-12-31H2 2024 (6M)OK474.7
y/y 32.3%
30.6
y/y 77.8%
18.0
y/y 13.1%
48.6
y/y 46.7%
12.2
y/y 2634.5%
54.5-19.3495.4
y/y 7.2%
149.0
y/y 17.5%
15.7%60.9Report (PDF)
2024-06-30H1 2024 (6M)OK413.6
y/y 60.8%
22.2
y/y 939.1%
17.3
y/y 41.7%
39.5
y/y 175.8%
10.2
y/y —
16.6-11.1448.4
y/y 35.1%
136.8
y/y 8.1%
15.5%92.5Report (PDF)
2023-12-31H2 2023 (6M)OK358.8
y/y —
17.2
y/y —
15.9
y/y —
33.1
y/y —
0.4
y/y —
48.8-81.0462.2
y/y —
126.8
y/y —
-2.1%95.4Report (PDF)
2023-06-30H1 2023 (6M)OK257.2
y/y —
2.1
y/y —
12.2
y/y —
14.3
y/y —
-3.1
y/y —
-0.6-3.9331.8
y/y —
126.5
y/y —
—59.3Report (PDF)

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

Short-term debt (incl. ST leases)61 050
Long-term debt (incl. LT leases)240 799
− Cash & equivalents25 173
Net debt276 677

Revenue & EBITDA

RevenueEBITDA

Quarterly values (₽ mln)

0200 000400 000600 0002023 H12023 H22024 H12024 H22025 H12025 H22026 q12026 q2

Year-over-year change

0%50%100%150%200%2023 H12023 H22024 H12024 H22025 H12025 H22026 q12026 q2

Cash flow

FCF (₽ mln)

-40 000-20 000020 00040 0002023 H12023 H22024 H12024 H22025 H12025 H22026 q12026 q2

Net debt / cash (₽ mln)

0100 000200 000300 0002023 H12023 FY2024 H12024 FY2025 H12025 FY2026 q12026 q2

Profit and cash

Profit is cash-backed
In a typical year of 2021–2025 operating cash flow came to 3.13x of reported net profit; after capex, 1.81x. Loss years (2023) are left out of the ratio.
year20212022202320242025
cash flow / profit3.09x7.22x—3.16x2.66x
accruals, % of assets-7.5%-6.5%-11.0%-9.8%-9.6%
Last twelve months (to 2026-06-30): 2.78x of profit came back as operating cash flow.
net debt / EBITDA 0.4x · capex 0.6x 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 →

Spending: Продовольственные магазины (SberIndex) — leading indicator

SberIndex — weekly nominal Russian consumer-spending growth (% YoY) from aggregated Sber-card data. The “Продовольственные магазины” category tracks consumer demand in near-real-time and is a leading signal for Lenta. The level is closer to turnover than to revenue, so the spread to the company's own growth is shown below.

Продовольственные магазины latest week (2026-08-29): +4.5% YoY · flat3-wk smooth: +4.9% vs 8-wk avg +4.8% (+0.2 pp)Продовольственные товары: +4.9%All categories: +7.4%

-10%+4%+18%+31%+45%Q4'24+14%Q1'25+14%Q2'25+11%Q3'25+6%Q4'25+3%Q1'26+4%Q2'26+2%Q3'26+5%+4.5%weekly % YoYquarter average

Average growth by quarter, % YoY: * квартал ещё не закончен

2кв 2025
+10.9%
3кв 2025
+6.1%
4кв 2025
+3.5%
1кв 2026
+3.7%
2кв 2026
+2.1%
3кв 2026 *
+4.8%

Source: SberIndex, updated 2026-09-06.

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: -67.5%

How this was calculated
1. EBITDA growth (latest quarter YoY, annualised)
[EBITDA latest qtr − EBITDA year-ago qtr] × annualisation X (2026-06-30 vs 2025-06-30)
= (58 290 − 52 095) × 2.04
12 664
2. Current EV/EBITDA (LTM)
(Market cap + Net debt) ÷ EBITDA (LTM)
= (205 062 + 276 677) ÷ 119 171
4.0x
3. Target multiple
(Current EV/EBITDA + 6.5) ÷ 2
= (4.0 + 6.5) ÷ 2
5.3x
4. Cash flow (balance method, LTM)
Net-debt reduction + dividends + buybacks − equity issuance
= -205 164 + 0 + 0 − 0
-205 164
5. Value created per year
(EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap
= (12 664 × 5.3 + -205 164) ÷ 205 062
-67.5%

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

Caveats:

  • half-year basis (semi-annual reporter)
  • dividends/buybacks not in data - balance cash flow uses net-debt change only

Revenue growth & acceleration

Growth decelerating ▼
Last-year revenue growth +24% vs +44% the year before — a -20.0 pp move. 3-year CAGR +27%.
revenue growth by year: 2023 +15% · 2024 +44% · 2025 +24%
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).

Dividends

No dividend rows found for this issuer.

Investment-community mentions

Substantive mentions last 7 days: 1 (1 negative), last 30 days: 7 (3 positive, 3 negative) across tracked channels, broker research and shows. 15 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

04.08.26Material eventСобытия (действия), оказывающие, по мнению эмитента, существенное влияние на стоимость или котировки его ценных бумаг
4 августа 2026 года акции компании 'Лента' будут переведены в 'Третий уровень' на Московской бирже с 12 августа 2026 года из-за истечения срока, установленного решением Совета директоров Банка России. Изменение уровня листинга является техническим и не повлияет на операционную деятельность компании.
30.06.26AGM / BoardРешения общих собраний участников (акционеров)
На годовом собрании акционеров МКПАО «Лента» 25.06.2026 было принято решение о распределении убытка за 2025 год в размере 106,2 млн. руб. за счет нераспределенной прибыли прошлых лет. Члены Совета директоров были избраны, размер вознаграждения им не определен. Аудиторами на 2026 год назначены ООО «Интерком-Аудит» и ООО «Б1 – Аудит».
25.05.26AGM / BoardРешения совета директоров (наблюдательного совета)
Совет директоров МКПАО «Лента» единогласно утвердил рекомендации к Собранию, включая погашение убытка 2025 года в размере 106,2 млн. руб. за счет нераспределенной прибыли прошлых лет.

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 Lenta — from primary filings.

Frequently asked questions

What is Lenta's P/E ratio?
Lenta trades at a P/E of 6.6x (price to trailing 12-month earnings).
What is Lenta's EV/EBITDA?
Lenta trades at 4.0x EV/EBITDA.
What is Lenta's P/B ratio?
Lenta trades at a P/B of 1.1x.
What is Lenta's return on equity (ROE)?
Lenta's ROE is 11.5%.
What is Lenta's market capitalization?
Lenta's market cap is 205.1 bn RUB.

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