What is Lenenergo (LSNG)'s P/E ratio?

Lenenergo (LSNG) trades at a P/E of 3.8x (price to trailing 12-month earnings).

What is Lenenergo (LSNG)'s EV/EBITDA?

Lenenergo (LSNG) trades at 1.8x EV/EBITDA.

What is Lenenergo (LSNG)'s P/B ratio?

Lenenergo (LSNG) trades at a P/B of 0.6x.

What is Lenenergo (LSNG)'s return on equity (ROE)?

Lenenergo (LSNG)'s ROE is 21.1%.

What is Lenenergo (LSNG)'s market capitalization?

Lenenergo (LSNG)'s market cap is 1.9 bn USD.

Lenenergo (LSNG) Stock — Financials, Valuation & Dividends

Rosseti Lenenergo is the electricity distribution grid operator for St. Petersburg and Leningrad region, delivering power to end consumers and connecting new customers.

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.

Date	Period	Status	RevenueM USD	Operating profitM USD	D&AM USD	EBITDAM USD	Net profitM USD	Operating CFM USD	Capex + M&AM USD	AssetsM USD	EquityM USD	ROE (annualized)	Net debtM USD	Source
2026-06-30	H1 2026 (6M)	OK	1053.3 y/y 33.5% y/y 33.5%	393.4 y/y 41.7% y/y 41.7%	143.3 y/y 23.4% y/y 23.4%	536.7 y/y 36.3% y/y 36.3%	319.6 y/y 35.8% y/y 35.8%	404.3	-394.4	4431.5 y/y 14.1%	3148.1 y/y 15.6%	21.1%	-299.0	Report (PDF)
2025-12-31	H2 2025 (6M)	PARTIAL	932.1 y/y 28.9% y/y 42.7%	216.4 y/y 106.2% y/y 4004.1%	137.3 y/y 19.1% y/y 30.7%	353.7 y/y 65.4% y/y 255.4%	182.5 y/y 83.1% y/y 988.7%	447.4	-388.3	4419.7 y/y 50.2%	2918.3 y/y 49.0%	14.8%	-270.2	Report (PDF)
2025-06-30	H1 2025 (6M)	OK	789.1 y/y 18.1% y/y 18.1%	277.6 y/y 13.5% y/y 13.5%	116.1 y/y 10.1% y/y 10.1%	393.7 y/y 12.4% y/y 12.4%	235.2 y/y 11.5% y/y 11.5%	353.7	-285.6	3883.9 y/y 20.4%	2723.0 y/y 18.6%	20.1%	-275.0	Report (PDF)
2024-12-31	H2 2024 (6M)	OK	666.3 y/y 1.2% y/y 9.9%	2.0 y/y -9.8% y/y -96.8%	107.1 y/y -13.6% y/y -3.5%	109.2 y/y -11.7% y/y -37.0%	23.0 y/y -4.5% y/y -63.1%	357.1	-302.4	2942.7 y/y -1.5%	1959.0 y/y -4.3%	10.7%	-95.0	Report (PDF)
2024-06-30	H1 2024 (6M)	OK	668.1 y/y -4.4% y/y -4.4%	244.7 y/y 20.5% y/y 20.5%	105.5 y/y -20.5% y/y -20.5%	350.2 y/y 4.3% y/y 4.3%	211.0 y/y 19.8% y/y 19.8%	298.9	-164.3	3227.2 y/y 9.0%	2296.6 y/y 12.9%	19.4%	-32.2	Report (PDF)
2023-12-31	H2 2023 (6M)	OK	596.2 y/y — y/y —	70.8 y/y — y/y —	109.6 y/y — y/y —	180.4 y/y — y/y —	69.0 y/y — y/y —	253.6	-282.9	2986.8 y/y —	2046.1 y/y —	11.7%	35.3	Report (PDF)
2023-06-30	H1 2023 (6M)	OK	698.8 y/y — y/y —	203.0 y/y — y/y —	132.7 y/y — y/y —	335.7 y/y — y/y —	176.1 y/y — y/y —	339.6	-162.7	2960.7 y/y —	2034.6 y/y —	—	72.7	Report (PDF)

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

Net debt	-299
Short-term debt (incl. ST leases)	7
Long-term debt (incl. LT leases)	150
− Cash & equivalents	456

Net debt / LTM EBITDA: -0.3x

Conversion to USD. Balance sheet: rate effective on 2026-06-30, fixing date 2026-06-30. Flows: sampled average at each calculation period's bounds and monthly 15ths. Latest source row: 2026-01-01 — 2026-06-30. Source: Bank of Russia R01235. Rates

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

Year-over-year change

Cash flow

Cash flow (OCF + ICF; OCF − capex when ICF is unavailable) ($ mln)

Net debt / cash ($ mln)

Profit and cash

Profit is cash-backed

In a typical year of 2021–2025 operating cash flow came to 2.49x of reported net profit; after capex, 0.62x.

year	2021	2022	2023	2024	2025
cash flow / profit	2.96x	2.27x	2.49x	2.86x	1.90x
accruals, % of assets	-11.0%	-9.8%	-11.1%	-13.1%	-9.1%

Last twelve months (to 2026-06-30): 1.71x of profit came back as operating cash flow.

net debt / EBITDA -0.3x · capex 2.1x 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.

Investment programme (Minenergo)

approved by order № 2@ от 28.11.2025 · period 2025–2030 · download order + appendix

Plan NP 2026 ≈ 43.9 vs LTM 35.0 (+25%)
3-year dividends (20% discount): ~15% of market cap
Dividends: actual vs ИПР plan — 2022: 49% ✗ · 2023: 75% ✗ · 2024: 60% ✗ · 2025: 48% ✗
Execution: actual NP vs ИПР plan — 2022: 109% ✓ · 2023: 95% ✓ · 2024: 87% ✗ · 2025: 102% ✓

ИПР financial plan (Form 19), ₽bn:

	2022	2023	2024	2025	2026	2027	2028	2029	2030
Net profit (ИПР)	18.1	21.0	24.2	34.4	43.9	46.4	43.4	39.1	36.0
Dividends (ИПР)	6.1	5.7	6.1	7.6	8.6	9.4	8.3	7.8	7.7
div, % cur. MCap	5.0%	4.7%	5.0%	6.3%	7.1%	7.8%	6.9%	6.4%	6.4%

Capex & funding sources, ₽bn:

	2025	2026	2027	2028	2029	2030
Capex (funding)	64.4	68.2	66.4	70.9	66.5	65.7
of which profit to investment	33.4	37.3	33.4	33.9	27.4	22.0
depreciation	14.1	16.4	19.9	24.7	27.8	32.5
attracted funds	4.1	1.1	0.6	0.2	0.3	0.3

Investment-programme execution: plan vs actual, ₽bn:

	2021	2022	2023	2024	2025
ИПР plan (prior-year order)	38.2	36.0	39.0	44.6	58.6
revised plan (same-year order)	40.1	34.4	41.5	50.1	64.4
Actual capex (IFRS cash flow)	34.0	29.0	37.2	43.3	56.6
actual vs plan	89%	81%	95%	97%	97%

Plan for a year = the order approved late in the prior year; actual = IFRS cash paid for PP&E (incl. VAT, approximately comparable).

Source — Minenergo ИПР order + Form 19 financial plan (МРСК consolidated). Net profit and dividends are the ИПР's own planned figures (correction proposal preferred), not actuals.

Transmission tariff: indexation

Regulated indexation (plan, RF average). Distribution grid transmission-tariff indexation (other consumers): 2026 from Oct +15.2% · 2027 from Jul +15.2% (households 17.5%) · 2028 from Jul +9.7% (households 12.0%) · 2029 from Jul +7.2%

Russian MinEc socio-economic forecast 2027–2029 (24 Sep 2026): 1prime.ru/20260924/indeksatsija-873658230.html, energo-news.ru/archives/201504

Fundamental value creation

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

Value created per year: +53.4%

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) = (537 − 394) × 1.66	237
2. Current EV/EBITDA (LTM) (Market cap + Net debt) ÷ EBITDA (LTM) = (1 887 + -299) ÷ 890	1.8x
3. Target multiple (Current EV/EBITDA + 6.5) ÷ 2 = (1.8 + 6.5) ÷ 2	4.1x
4. Cash flow (balance method, LTM) Net-debt reduction + dividends + buybacks − equity issuance = 24 + 0 + 0 − 0	24
5. Value created per year (EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap = (237 × 4.1 + 24) ÷ 1 887	+53.4%

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 accelerating ▲

Last-year revenue growth +17% vs +13% the year before — a +3.8 pp move. 3-year CAGR +15%.

revenue growth by year: 2023 +14% · 2024 +13% · 2025 +17%

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 1.9x · 3-year 75th pct 3.3x

EV/EBITDA3-year 75th pct

Peer comparison

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

Company	Market	Cap, $bn	EV/EBITDA	EV/EBITDA, adjusted
Inter RAO	Russia	2.3	0.2x	0.2x
Rosseti Moscow Region	Russia	1.1	1.5x	1.5x
FGC UES	Russia	1.6	1.7x	1.7x
NEXTERA ENERGY INC	US	163.1	17.5x	3.1x
CPFL Energia	Brazil	11.4	6.3x	3.4x
Cemig	Brazil	6.5	6.4x	3.4x
Rushydro	Russia	2.4	3.6x	3.6x
DEWA (Dubai Electricity & Water)	UAE	36.2	9.9x	3.8x
Equatorial Energia	Brazil	12.2	10.9x	5.8x
En+ Group	Russia	2.5	6.4x	6.4x
Manila Electric (Meralco)	Philippines	7.8	12.5x	8.1x
Energisa	Brazil	33.0	23.1x	12.4x
Group median			6.4x	3.5x
Group average			8.3x	4.4x
This company	Russia	1.9	1.8x	1.8x

Group median 6.4x as traded, 3.5x adjusted; this company 1.8x — a 49% discount.

Group average 8.3x as traded, 4.4x adjusted; against the average this company is at a 60% discount. The average sits 27% above the median: Energisa (12.4x) skews the group.

At the adjusted group median the market cap would be +82% versus today.

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 — grid ИПР model

Expected dividend: 8617 mln RUB · 7.1% · upside -49%

ИПР-planned dividend (company pays) Last actual payout: 2025.

Year	ИПР plan, mln	Actual, mln
2025	7594	3649
2026	8617	—
2027	9391	—
2028	8279	—
2029	7773	—
2030	7727	—

For grids the dividend is judged from the ИПР plan, discounted by actual payment practice and board decisions (the ИПР plan is often not executed).

Dividend potential

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.

Dividend history

Pay year	Dividend /sh
2025	0.43 ₽
2024	0.42 ₽
2023	0.50 ₽
2022	0.35 ₽
2021	0.26 ₽
2020	0.09 ₽
2019	0.04 ₽
2018	0.14 ₽

Payments by period

Period	Last day to buy	/sh
2025 q3	2025-07-02	0.43 ₽
2024 q3	2024-07-01	0.42 ₽
2023 q2	2023-06-23	0.06 ₽
2023 q1	2023-01-04	0.44 ₽
2022 q2	2022-06-08	0.35 ₽
2021 q2	2021-06-25	0.26 ₽
2020 q2	2020-06-09	0.09 ₽
2019 q2	2019-06-27	0.04 ₽
2018 q2	2018-06-15	0.14 ₽
2017 q2	2017-06-22	0.13 ₽

Dividends

No dividend rows found for this issuer.

Corporate events

28.09.26	AGM / Board	Решения совета директоров (наблюдательного совета) Совет директоров ПАО «Россети Ленэнерго» признал Сергея Пикина независимым директором, несмотря на формальные критерии связанности. За решение проголосовали 10 членов совета, 1 воздержался. Дата голосования - 22.09.2026, а протокол составлен 25.09.2026.
09.06.26	AGM / Board	Решения общих собраний участников (акционеров) На годовом собрании акционеров ПАО «Россети Ленэнерго» 3 июня 2026 года было утверждено распределение прибыли за 2025 год, включая дивиденды в размере 0,5379 руб. на акцию и 36,7247 руб. на привилегированную акцию. Кворум составил 98,31%, что позволило принять решения по всем вопросам повестки дня.

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 Lenenergo (LSNG) — from primary filings.

Lenenergo (LSNG) USD

Price chart

Key metrics

Market

Growth

Multiples

Cash return

Value creation

Liquidity