Mosgorlombard (MGKL Group) is a Moscow pawnshop chain that has expanded into precious-metals trading and the resale of second-hand goods.
Sector: Financial Services
RU_MGKL
Shares: connector/market_inputs
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 | Net interest incomeM USD | Net profitM USD | AssetsM USD | EquityM USD | ROE (annualized) | Source |
|---|---|---|---|---|---|---|---|---|
| 2026-06-30 | Q2 2026 (3M) | OK | -1.8 y/y -141.8% | 7.3 y/y 50.6% | 173.7 y/y 85.0% | 30.4 y/y 89.3% | 54.2% | Report (PDF) |
| 2025-12-31 | FY 2025 (12M) | OK | — y/y 4112.6% | 3.9 y/y 122.5% | 133.5 y/y 176.5% | 22.6 y/y 118.0% | 44.6% | Report (PDF) |
| 2025-06-30 | Q2 2025 (3M) | OK | 4.5 y/y -14.2% | 5.1 y/y 90.9% | 93.9 y/y 89.8% | 16.1 y/y 49.1% | 72.2% | Report (PDF) |
| 2024-12-31 | Q4 2024 (3M) | OK | 4.1 y/y 74.8% | 1.7 y/y 42.4% | 48.3 y/y 25.2% | 10.4 y/y 85.2% | 40.0% | Report (PDF) |
| 2024-06-30 | Q2 2024 (3M) | OK | 4.9 y/y -21.6% | 2.5 y/y 316.0% | 49.5 y/y 65.2% | 10.8 y/y 227.4% | 61.1% | Report (PDF) |
| 2023-12-31 | Q4 2023 (3M) | OK | 2.3 y/y — | 1.2 y/y — | 38.6 y/y — | 5.6 y/y — | 72.8% | Report (PDF) |
| 2023-09-30 | Q3 2023 (3M) | OK | 2.0 y/y — | 0.2 y/y — | 27.8 y/y — | 3.0 y/y — | 7.3% | Report (PDF) |
| 2023-06-30 | Q2 2023 (3M) | OK | 5.9 y/y — | 0.6 y/y — | 30.0 y/y — | 3.3 y/y — | — | Report (PDF) |
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
IFRS decomposition: interest, fee and trading result with provisions, costs and the recurring/non-recurring profit split (bn RUB). Source: eninvs.com.
| Item, bn RUB | 2022 | 2023 | 2024 | YoY |
|---|---|---|---|---|
| Interest income | 1.4 | 1.1 | 1.3 | +17% |
| Interest expense | -0.2 | -0.3 | -0.5 | -74% |
| Net interest income | 1.2 | 0.9 | 0.8 | -2% |
| Credit-loss provisions | -0.9 | -0.3 | -0.1 | +69% |
| NII after provisions | 0.3 | 0.5 | 0.7 | +40% |
| Fee & commission income | — | 0.0 | 0.1 | +830% |
| Net fee & commission income | — | 0.0 | 0.1 | +830% |
| Financial instruments & investment result | 0.0 | — | — | |
| Other operating income, net | 0.2 | 0.1 | -0.2 | -382% |
| Operating income | 1.2 | 0.9 | 1.0 | +12% |
| Administrative & other expenses (SG&A) | -0.3 | -0.3 | -0.4 | -51% |
| Profit before tax | -0.0 | 0.3 | 0.5 | +48% |
| Income tax | — | -0.1 | -0.1 | -39% |
| Net profit | 0.0 | 0.3 | 0.4 | +50% |
| Key ratios (annual) | ||||
| ROE | 0.8% | 67.0% | 50.5% | -16.5 pp |
| Cost-to-income (CIR) | 22.5% | 32.4% | 43.5% | +11.1 pp |
| Net interest margin (NIM) | 64.58% | 30.35% | 20.11% | -10.2 pp |
ROE = (net profit − perpetual bond coupons) ×4 / avg equity excl. perpetuals; CoR = provisions ×4 / avg credit portfolio; CIR = admin expense / operating income; NIM = NII ×4 / avg assets.
| Quarter | 22/12 Q4 | 23/06 Q2 | 23/09 Q3 | 23/12 Q4 | 24/06 Q2 | 24/12 Q4 | 25/06 Q2 | 26/06 Q2 |
|---|---|---|---|---|---|---|---|---|
| P&L, bn RUB | ||||||||
| Net interest income | 0.3 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | 0.2 | -0.1 |
| Provisions | -0.2 | -0.1 | -0.1 | -0.1 | -0.0 | -0.0 | -0.0 | -0.0 |
| Net fee income | — | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.7 |
| Financial instruments & investment | 0.0 | — | — | — | — | — | — | 0.0 |
| Operating income | 0.3 | 0.2 | 0.2 | 0.2 | 0.2 | 0.3 | 0.2 | 0.6 |
| Admin (SG&A) | -0.1 | -0.1 | -0.1 | -0.1 | -0.1 | -0.1 | -0.2 | -0.3 |
| Net profit | 0.0 | 0.0 | 0.0 | 0.1 | 0.1 | 0.1 | 0.2 | 0.3 |
| Balance (period-end), bn RUB | ||||||||
| Securities portfolio (bonds) | 1.2 | 1.6 | 1.5 | 1.6 | 2.1 | 2.5 | — | — |
| Other assets | 1.0 | 1.0 | 1.2 | 1.9 | 2.2 | 2.4 | 7.4 | — |
| Total assets | 2.2 | 2.6 | 2.7 | 3.5 | 4.2 | 4.9 | 7.4 | ~7.4 |
| Equity | 0.3 | 0.3 | 0.3 | 0.5 | 0.9 | 1.1 | 1.3 | ~1.3 |
| Key ratios (annualised) | ||||||||
| ROE (annualised) | 34.8% | 32.5% | 22.6% | 111.7% | 63.1% | 37.8% | 71.5% | 87.3%* |
| Cost-to-income (CIR) | 26.1% | 25.9% | 34.2% | 40.1% | 40.6% | 44.4% | 83.1% | 49.0% |
| Net interest margin (NIM) | 56.53% | 39.66% | 28.24% | 28.11% | 22.83% | 18.11% | 11.85% | -3.63%* |
Our earnings breakdowns and investment notes on this issuer.
Potential discount −55% (factor 0.45)
This company's ranking potential is scaled down by a quality/governance factor from the signals below — de-prioritising 'cheap but problematic' names.
Current 0.80x · 3-year median 2.17x
P/B is market cap ÷ equity of the latest reported quarter, P/E is ÷ profit of the last four quarters. EV/EBITDA is not computed for financials: EBITDA is not a meaningful line for them and their net debt is operating liquidity, not leverage.
Group: Financial Services. Every peer trades on the same market, so no adjustment is needed.
| Company | Market | Cap, $bn | P/E |
|---|---|---|---|
| MTS Bank | Russia | 0.4 | 1.9x |
| Bank VTB | Russia | 15.3 | 2.8x |
| Sovcombank | Russia | 2.8 | 2.8x |
| Sberbank | Russia | 80.3 | 3.5x |
| DOM.RF | Russia | 4.6 | 3.5x |
| Zaymer | Russia | 0.2 | 3.7x |
| Bank Sankt-Peterburg | Russia | 1.4 | 3.8x |
| TBank | Russia | 8.8 | 3.9x |
| CarMoney | Russia | 0.0 | 4.6x |
| Europlan | Russia | 1.0 | 10.6x |
| Credit Bank of Moscow | Russia | 4.1 | 14.9x |
| Group median | 3.7x | ||
| Group average | 5.1x | ||
| This company | Russia | 0.0 | 2.7x |
Group median 3.7x; this company 2.7x — a 28% discount.
Group average 5.1x; against the average this company is at a 48% discount. The average sits 38% above the median: Credit Bank of Moscow (14.9x) skews the group.
At the adjusted group median the market cap would be +38% 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 28.3x, Russia 5.9x, South Africa 11.1x, Kazakhstan 9.2x, India 27.4x, Indonesia 7.3x); 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-model upside: +41%
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) | 1 bn RUB |
| Payout ratio | 26% |
| Recent actual dividend (3-yr median) | 0.28 ₽ |
| = Forecast dividend per share | 0.28 ₽ |
| 2 · Fair yield (spread to key rate) | |
| CBR key rate | 14.0% |
| Historical yield spread to rate (3-yr median) | -11.9 pp |
| = Fair dividend yield (bank floor ≈ rate−3.5) | 10.5% |
| 3 · Valuation → upside | |
| Current price | 1.89 ₽ |
| Forecast dividend yield | 14.8% |
| Fair price (dividend-based) | 2.67 ₽ |
Forecast, not investment advice. Earnings annualization and policy assumptions are estimates.
Paid, trailing 12-mo: 0.28 RUB/sh · 14.8%
| Pay year | Dividend /sh | |
|---|---|---|
| 2026 | 0.28 ₽ | |
| 2025 | 0.15 ₽ | |
| 2024 | 0.08 ₽ |
| Period | Last day to buy | /sh |
|---|---|---|
| 2026 q3 | 2026-07-16 | 0.28 ₽ |
| 2025 q3 | 2025-07-04 | 0.15 ₽ |
| 2024 q2 | 2024-06-03 | 0.08 ₽ |
No dividend rows found for this issuer.
Substantive mentions last 7 days: 0, last 30 days: 2 (2 positive) across tracked channels, broker research and shows. 1 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.
| 21.10.26 | Filing | ★ ▼ Отчуждение подконтрольной эмитенту организацией голосующих акций (долей) эмитента или депозитарных расписок на акции эмитента Подконтрольная организации эмитента 'МГКЛ' осуществила отчуждение 47,6 млн голосующих акций (3,75%) на основании договора купли-продажи. После отчуждения количество голосующих акций, принадлежащих организации, составило 18,6 млн (1,47%). |
| 01.10.26 | Filing | ★ ▲ Операционные результаты деятельности эмитента (компаний группы эмитента) (прогнозные, предварительные, фактические) Группа «МГКЛ» объявила предварительные итоги операционной деятельности за девять месяцев 2026 года, с прогнозной выручкой 39,6 млрд руб. Выручка выросла в 2,2 раза по сравнению с аналогичным периодом 2025 года, а количество розничных клиентов увеличилось на 10% до 185 тыс. |
| 01.10.26 | Filing | ★ ▲ Заключение подконтрольной эмитенту организацией договора, предусматривающего обязанность приобретать эмиссионные ценные бумаги эмитента Подконтрольная организация 'Команда МГКЛ' заключила договор на приобретение 15,1 млн. голосующих акций эмитента 'МГКЛ' с 01.09.2026 по 30.09.2026. После завершения сделки доля акций в собственности увеличится с 51,1 млн. до 66,2 млн. акций. |
| 01.10.26 | Buyback | ★ ▲ Приобретение подконтрольной эмитенту организацией голосующих акций (долей) эмитента или депозитарных расписок на акции эмитента Подконтрольная организации эмитента, Общество с ограниченной ответственностью «Команда МГКЛ», приобрела 15,1 млн голосующих акций эмитента, что составляет 1,19% от общего количества акций. После приобретения, доля голосующих акций эмитента у подконтрольной организации увеличилась до 66,2 млн, или 5,22%. Дата события - 30.09.2026. |
| 14.09.26 | Filing | ★ ▼ Присвоение или изменение рейтинга эмитента рейтинговым агентством или иной организацией на основании договора ПАО 'МГКЛ' присвоен кредитный рейтинг ruB с прогнозом стабильным, изменившийся с ruВВ- на основании оценки рейтингового агентства 'Эксперт РА'. Дата изменения рейтинга: 11.09.2026. |
| 03.07.26 | AGM / Board | ★ ▼ Решения общих собраний участников (акционеров) На годовом собрании акционеров ПАО 'МГКЛ', состоявшемся 29.06.2026, было принято решение не выплачивать дивиденды по результатам 2025 года. Также утвержден аудитор ООО 'ФБК'. Избраны члены Совета директоров. |
| 21.10.26 | Buyback | Приобретение лицом права распоряжаться определенным количеством голосов, приходящихся на голосующие акции (доли), составляющие уставный капитал эмитента Григорьев Евгений Анатольевич приобрел право на прямое распоряжение 160795200 голосами (12,68%) голосующих акций ПАО 'МГКЛ', увеличив свою долю с 1000500 голосов (0,08%). Существенный факт произошел 20.10.2026. |
| 29.09.26 | AGM / Board | Решения совета директоров (наблюдательного совета) Совет директоров ПАО 'МГКЛ' принял решение о введении чрезвычайного моратория на операции с финансовыми инструментами инсайдерами с 1 октября по 31 октября 2026 года, чтобы минимизировать влияние на стоимость и избежать обвинений в использовании инсайдерской информации. |
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), profitability and dividend yield of Mosgorlombard (MGKL) — from primary filings.
| Issue | YTM | Coupon | Price, % | 1D | Volume today, ₽ | Avg vol. 20D, ₽ | Maturity |
|---|---|---|---|---|---|---|---|
| МГКЛ 1P1 | float | float | 100.11 | +0.01% | 386K | 997K | 12.2026 |
| МГКЛ 1P2 | 51.6% | 16.5% | 84.91 | +1.85% | 557K | 360K | 06.2027 |
| МГКЛ 1P3 | 41.4% | 16% | 88.41 | -1.54% | 98K | 1.2M | 06.2027 |
| МГКЛ 1P4 | 46.6% | 16% | 77.00 | +1.48% | 283K | 764K | 01.2028 |
| МГКЛ-G01 | 28.2% | 14% | 83.59 | +1.89% | 18K | 92K | 08.2028 |
| МГКЛ 1P5 | 46.0% | 20% | 70.83 | +1.19% | 840K | 545K | 02.2029 |
| МГКЛ-1P6 | 42.1% | 23% | 78.40 | +1.16% | 2.1M | 1.6M | 06.2029 |
| МГКЛ-1P7 | 43.8% | 30% | 87.10 | -0.25% | 4.0M | 4.7M | 01.2030 |
| МГКЛ-1P8 | 42.0% | 25.5% | 79.50 | +1.92% | 2.6M | 2.6M | 07.2030 |
Price, YTM and turnover from MOEX; 1D is the current price vs the previous session close; floaters have no fixed YTM. Not investment advice.
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