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Magnit USD

Update

Re-runs extraction for each period with period-end year from max(2023, current year − 2) through the current year, oldest first (up to three reporting years). This can take a long time.

Sector: Retail

RU_MGNT

Price chart

2 174 RUBDay 0.00%

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
2 174 RUB · 0.00%
Market cap
2.2 bn USD

Growth

Δ revenue y/y
16.0%
Δ EBITDA y/y
-5.5%

Multiples

P/E (LTM)
—
3y avg: 8.4x
P/B (FY)
1.0x
P/E (ann.)
<0
EV/EBITDA (LTM)
—
3y avg: 189.8x
EV/EBITDA (ann.)
266.0x

Cash return

Dividend yield
—
FCF yield (LTM)
—

Liquidity

Daily turnover (MOEX)
32.7 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.

🔍 Sanity check — subtotal consistency (Level-1 + Level-2) OK: 5 / Warn: 2 / Err: 4 / Autofix applied: 0
Port of PHP subtotal-total + sign-flip detection logic
PeriodIssues
2023-03-31 Q1✓OK
2023-06-30 Q2✓OK
2023-09-30 9M✓OK
2023-12-31 FY✓OK
2023-12-31 H2✓OK
2024-06-30 H1⚠Warn 2
2024-12-31 FY⚠Warn 2
2024-12-31 H2✗Errors 1Warn 1
2025-06-30 H1✗Errors 1
2025-12-31 FY✗Errors 1Warn 2
2025-12-31 H2✗Errors 1
✓ All checks pass · ⚠ Has warnings (review) · ✗ Has errors (needs fix) · ✓* Autofix applied (see evidence)

Financial dynamics

Monetary columns are in B 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.

DatePeriodStatusRevenueB USDOperating profitB USDD&AB USDEBITDAB USDNet profitB USDOperating CFB USDCapex + M&AB USDAssetsB USDEquityB USDROE (annualized)Net debtB USDSource
2025-12-31Q4 2025 (3M)OK25.7
y/y 16.0%
0.8
y/y -22.8%
1.2
y/y 11.1%
2.1
y/y -5.5%
-0.4
y/y -216.1%
0.6-118.127.4
y/y 24.8%
2.1
y/y -17.4%
-18.9%1096.8Report (PDF)
2025-06-30Q2 2025 (3M)OK23.5
y/y 14.6%
1.0
y/y 11.0%
1.1
y/y 15.5%
2.1
y/y 12.8%
0.0
y/y -99.1%
—-68.323.4
y/y 19.4%
2.6
y/y 21.1%
0.2%1002.9Report (PDF)
2024-12-31Q4 2024 (3M)OK22.2
y/y 130.6%
1.1
y/y 32.6%
1.1
y/y -9.5%
2.2
y/y 7.2%
0.4
y/y 619.8%
1.8-104.621.9
y/y 9.4%
2.5
y/y 14.4%
26.6%797.5Report (PDF)
2024-06-30Q2 2024 (3M)OK20.5
y/y —
0.9
y/y —
1.0
y/y —
1.9
y/y —
0.2
y/y —
1.0-61.019.6
y/y —
2.1
y/y —
21.9%777.2Report (PDF)
2023-12-31Q4 2023 (3M)OK9.6
y/y —
0.8
y/y —
1.2
y/y —
2.0
y/y —
0.1
y/y —
2.0-25.420.0
y/y —
2.2
y/y —
—684.6Report (PDF)
2023-09-30Q3 2023 (3M)PARTIAL17.2
y/y —
0.7
y/y —
0.4
y/y —
1.1
y/y —
0.5
y/y —
———
y/y —
—
y/y —
——Report (PDF)
2023-06-30Q2 2023 (3M)PARTIAL0.5
y/y —
0.1
y/y —
0.1
y/y —
0.2
y/y —
0.1
y/y —
———
y/y —
—
y/y —
——Report (PDF)
2023-03-31Q1 2023 (3M)PARTIAL8.4
y/y —
0.3
y/y —
0.2
y/y —
0.5
y/y —
0.2
y/y —
—-11.5—
y/y —
—
y/y —
——Report (PDF)
Data quality — review suggested

Operating statistics

Production indicators — supplementary, not part of the financial statements

PeriodStores (net)
шт		Selling space
тыс. м²		LFL sales growth
%
FY 2025-12——8.70
1H 2025-0632 58911 2759.80

Магнит, операционные/финансовые результаты 1П2025 и 2025 г. (magnit.com/ru/ir; Атон/Альфа/ТАСС, 2025-2026): на 30.06.2025 32 589 магазинов, торговая площадь 11 275 тыс. м² (+6,4% г/г), LFL-продажи 1П +9,8% (чек +9,3%, трафик +0,4%); LFL за 2025 г. +8,7% (чек +8,4%, трафик +0,3%).

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

010 00020 00030 0002023 q12023 q22023 q32023 q42024 H12024 H22025 H12025 H2

Year-over-year change

-10%0%10%20%2023 q12023 q22023 q32023 q42024 H12024 H22025 H12025 H2

Cash flow

FCF ($ mln)

01002003002023 q12023 q22023 q32023 q42024 H12024 H22025 H12025 H2

Net debt / cash ($ mln)

0250 000500 000750 0001 000 0002023 q12023 q22023 q32023 q42024 H12024 FY2025 H12025 FY

Dividend potential

Dividends suspended (~1.9 yr without a payout)

The company has not paid a dividend for over 18 months — profit is going to capex or deleveraging (e.g. Nornickel, NLMK, RusHydro, FSK). The forecast payout is zeroed until distributions resume; profit and cash flow may still be healthy.

1 · Forecast dividend (per policy)
Smoothed net profit (median YTD-ann./LTM/FY)-32 bn RUB
Payout ratio71%
Free cash flow (FY, OCF − capex) — caps payout-141 bn RUB
Recent actual dividend (3-yr median)824.26 ₽
= Forecast dividend per share0.00 ₽
2 · Fair yield (spread to key rate)
CBR key rate14.5%
Historical yield spread to rate (3-yr median)-10.2 pp
= Fair dividend yield7.0%
3 · Valuation → upside
Current price2174.50 ₽
Forecast dividend yield—
Fair price (dividend-based)0 ₽

Forecast, not investment advice. Earnings annualization and policy assumptions are estimates.

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 (2025-12-31 vs 2024-12-31)
= (2 066 − 2 186) × 2.03
-244
2. Current EV/EBITDA (LTM)
(Market cap + Net debt) ÷ EBITDA (LTM)
= (2 184 + 1 096 817) ÷ 4 202
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
= -299 311 + 0 + 0 − 0
-299 311
5. Value created per year
(EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap
= (-244 × 18.2 + -299 311) ÷ 2 184
≤-300.0%

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

Caveats:

Dividends

No dividend rows found for this issuer.

Investor reporting (IR): https://www.e-disclosure.ru/portal/files.aspx?id=7671

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)