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IDGC Siberia (MRKS) RUB

At a glance: strengths & risks
✓Revenue growing (+72%)✗Margins compressing (15%→12%)

Sector: Utilities

RU_MRKS

Price chart

0.349 RUBDay 2.35%

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
0.349 RUB · 2.35%
Market cap
33.1 bn RUB

Growth

Δ revenue y/y
71.9%
Δ EBITDA y/y
30.4%

Multiples

P/E (LTM)
29.3x
P/B (FY)
2.2x
P/E (ann.)
27.0x
EV/EBITDA (LTM)
4.9x
EV/EBITDA (ann.)
4.0x

Cash return

Dividend yield
—
FCF yield (LTM)
13.1%

Value creation

fundamental value/yr, % of market cap
Value created / year
+78.0%
↓ details

Liquidity

Daily turnover (MOEX)
5.2 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
2025-12-31FY 2025 (12M)OK133.4
y/y 71.9%
10.6
y/y 78.6%
4.9
y/y -17.5%
15.6
y/y 30.4%
1.1
y/y —
18.2-13.9113.5
y/y 20.4%
15.2
y/y 8.3%
7.7%43.1Report (PDF)
2024-12-31Q4 2024 (3M)OK60.9
y/y 142.8%
6.4
y/y 1267.9%
3.0
y/y 81.9%
9.4
y/y 340.6%
0.6
y/y 294.6%
1.2-7.194.3
y/y 11.5%
14.0
y/y -5.8%
-7.0%48.2Report (PDF)
2024-06-30Q2 2024 (3M)OK16.7
y/y 4.3%
-0.4
y/y -195.9%
3.0
y/y -8.3%
2.5
y/y -30.5%
-1.6
y/y —
4.2-3.987.2
y/y 8.5%
14.2
y/y -22.9%
-21.9%-1.0Report (PDF)
2023-12-31Q4 2023 (3M)OK25.1
y/y —
0.5
y/y —
1.7
y/y —
2.1
y/y —
-0.3
y/y —
3.3-3.784.6
y/y —
14.8
y/y —
-18.8%42.8Report (PDF)
2023-09-30Q3 2023 (3M)OK14.9
y/y —
-1.5
y/y —
1.6
y/y —
0.1
y/y —
-2.0
y/y —
0.9-2.081.3
y/y —
16.5
y/y —
-15.4%39.7Report (PDF)
2023-06-30Q2 2023 (3M)OK16.0
y/y —
0.4
y/y —
3.2
y/y —
3.7
y/y —
-0.3
y/y —
8.8-3.780.4
y/y —
18.4
y/y —
—-1.3Report (PDF)

Revenue & EBITDA

RevenueEBITDA

Quarterly values (₽ mln)

-50 000050 000100 000150 0002023 H12023 q32023 q42024 H12024 H22025 FY

Year-over-year change

-40%-30%-20%-10%0%2023 H12023 q32023 q42024 H12024 H22025 FY

Cash flow

FCF (₽ mln)

-7 500-5 000-2 50002 5005 0002023 H12023 q32023 q42024 H12024 H22025 FY

Net debt / cash (₽ mln)

-10 000010 00020 00030 00040 00050 0002023 q22023 q32023 q42024 H12024 FY2025 FY

Investment programme (Minenergo)

ИПР financial plan (Form 19), ₽bn:

2023202420252026202720282029203020312032203320342035
Net profit (ИПР)-0.7-0.71.710.624.425.432.134.334.036.338.740.742.9
Dividends (ИПР)0.00.00.00.06.37.310.110.410.311.412.112.214.4
div, % cur. MCap0.0%0.0%0.0%0.0%19.4%22.5%31.1%32.0%31.7%35.0%37.1%37.4%44.1%

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: 2026 from Oct +15.2% · 2027 from Jul +15.3% · 2028 from Jul +11.2%

Russian MinEc socio-economic forecast 2026–2028 (Sep 2025) + FAS orders

Fundamental value creation

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

Value created per year: +78.0%

How this was calculated
1. EBITDA growth (latest quarter YoY, annualised)
[EBITDA latest qtr − EBITDA year-ago qtr] × annualisation X
= —
3 632
2. Current EV/EBITDA (LTM)
(Market cap + Net debt) ÷ EBITDA (LTM)
= (33 090 + 43 090) ÷ 15 584
4.9x
3. Target multiple
(Current EV/EBITDA + 6.5) ÷ 2
= (4.9 + 6.5) ÷ 2
5.7x
4. Cash flow (balance method, LTM)
Net-debt reduction + dividends + buybacks − equity issuance
= 5 109 + 14 + 0 − 0
5 123
5. Value created per year
(EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap
= (3 632 × 5.7 + 5 123) ÷ 33 090
+78.0%

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

Caveats:

  • FY-over-FY EBITDA growth (no interim signal): FY2025 vs FY2024
  • cash flow = net-debt reduction + dividends + buybacks (balance method)

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth +72% vs +12% the year before — a +59.9 pp move. 3-year CAGR +27%.
revenue growth by year: 2023 +7% · 2024 +12% · 2025 +72%
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).

Dividend — grid ИПР model

No dividend expected

no dividend in the ИПР plan this year Last actual payout: 2020.

YearИПР plan, mlnActual, mln
203010437—
203110336—
203211385—
203312068—
203412181—
203514362—

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 yearDividend /sh
20200.00 ₽
20190.00 ₽
20180.00 ₽
20150.00 ₽
20130.00 ₽
20090.00 ₽
Payments by period
PeriodEx-date/sh
2020 q12020-01-100.00 ₽
2019 q22019-06-200.00 ₽
2018 q22018-06-150.00 ₽
2015 q32015-07-060.00 ₽
2013 q22013-05-150.00 ₽
2009 q22009-05-120.00 ₽

Dividends

No dividend rows found for this issuer.

Corporate events

13.04.26Filing★ ▲ Присвоение или изменение рейтинга эмиссионных ценных бумаг эмитента рейтинговым агентством или иной организацией на основании договора
ПАО «Россети Сибирь» получило кредитный рейтинг AA+(RU) с прогнозом «Стабильный» для своих биржевых облигаций серии 001Р-01. Рейтинг был присвоен 13 апреля 2026 года на основе методологий АКРА.
17.07.26Material eventСобытия (действия), оказывающие, по мнению эмитента, существенное влияние на стоимость или котировки его ценных бумаг
ПАО «Россети Сибирь» приняло решение о процентной ставке для биржевых облигаций, установив значение S на уровне 1,45% годовых. Это событие может существенно повлиять на стоимость ценных бумаг компании.
25.06.26AGM / BoardРешения общих собраний участников (акционеров)
На годовом собрании акционеров ПАО «Россети Сибирь» было принято решение не выплачивать дивиденды по результатам 2025 года, а распределить прибыль на резервный фонд (84 тыс. руб.) и на развитие (1,596 млн. руб.). Собрание состоялось 22 июня 2026 года, кворум по всем вопросам повестки дня был достигнут.
23.06.26AGM / BoardРешения совета директоров (наблюдательного совета)
На заседании совета директоров ПАО «Россети Сибирь» 19.06.2026 был утвержден новый Регламент размещения временно свободных денежных средств. За решение проголосовали все 11 членов совета, против и воздержавшихся не было.

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 IDGC Siberia (MRKS) — from primary filings.

Frequently asked questions

What is IDGC Siberia (MRKS)'s P/E ratio?
IDGC Siberia (MRKS) trades at a P/E of 29.3x (price to trailing 12-month earnings).
What is IDGC Siberia (MRKS)'s EV/EBITDA?
IDGC Siberia (MRKS) trades at 4.9x EV/EBITDA.
What is IDGC Siberia (MRKS)'s P/B ratio?
IDGC Siberia (MRKS) trades at a P/B of 2.2x.
What is IDGC Siberia (MRKS)'s return on equity (ROE)?
IDGC Siberia (MRKS)'s ROE is 7.7%.
What is IDGC Siberia (MRKS)'s market capitalization?
IDGC Siberia (MRKS)'s market cap is 33.1 bn RUB.