What is IDGC South (MRKY)'s P/E ratio?

IDGC South (MRKY) trades at a P/E of 4.4x (price to trailing 12-month earnings).

What is IDGC South (MRKY)'s EV/EBITDA?

IDGC South (MRKY) trades at 2.9x EV/EBITDA.

What is IDGC South (MRKY)'s P/B ratio?

IDGC South (MRKY) trades at a P/B of 0.6x.

What is IDGC South (MRKY)'s dividend yield?

IDGC South (MRKY)'s trailing 12-month dividend yield is 5.2%.

What is IDGC South (MRKY)'s return on equity (ROE)?

IDGC South (MRKY)'s ROE is 11.2%.

What is IDGC South (MRKY)'s market capitalization?

IDGC South (MRKY)'s market cap is 51.0 bn RUB.

IDGC South (MRKY) Stock — Financials, Valuation & Dividends

Rosseti South operates electricity distribution grids in Rostov, Volgograd and Astrakhan regions and Kalmykia.

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.

Date	Period	Status	RevenueB RUB	Operating profitB RUB	D&AB RUB	EBITDAB RUB	Net profitB RUB	Operating CFB RUB	Capex + M&AB RUB	AssetsB RUB	EquityB RUB	ROE (annualized)	Net debtB RUB	Source
2026-06-30	Q2 2026 (3M)	OK	45.2 y/y 153.8% y/y 153.8%	5.4 y/y 237.2% y/y 237.2%	3.1 y/y 288.1% y/y 288.1%	8.6 y/y 254.2% y/y 254.2%	2.5 y/y 719.6% y/y 719.6%	4.2	-7.4	215.2 y/y 272.3%	87.3 y/y 762.4%	11.2%	39.4	Report (PDF)
2026-03-31	Q1 2026 (3M)	OK	50.2 y/y 146.7% y/y 146.7%	7.7 y/y 193.4% y/y 193.4%	3.0 y/y 307.4% y/y 307.4%	10.7 y/y 218.7% y/y 218.7%	5.0 y/y 346.4% y/y 346.4%	7.0	-8.5	213.5 y/y 278.4%	87.4 y/y 787.3%	23.4%	38.2	Report (PDF)
2025-12-31	Q4 2025 (3M)	OK	36.2 y/y 71.9% y/y 141.5%	5.4 y/y 13.6% y/y -7.5%	1.6 y/y 49.9% y/y 115.1%	6.9 y/y 20.3% y/y 6.4%	1.1 y/y -8.7% y/y -68.8%	2.7	-3.4	206.5 y/y 272.7%	82.4 y/y 843.5%	11.8%	36.2	Evidence
2025-09-30	Q3 2025 (3M)	OK	22.6 y/y 44.0% y/y 44.0%	3.7 y/y 32.2% y/y 32.2%	0.8 y/y 31.7% y/y 31.7%	4.5 y/y 31.9% y/y 31.9%	3.1 y/y 101.8% y/y 101.8%	3.2	-1.7	59.9 y/y 26.7%	12.9 y/y 142.3%	36.0%	21.4	Report (PDF)
2025-06-30	Q2 2025 (3M)	OK	17.8 y/y 47.8% y/y 47.8%	1.6 y/y 20.9% y/y 20.9%	0.8 y/y 25.5% y/y 25.5%	2.4 y/y 22.4% y/y 22.4%	0.3 y/y -30.1% y/y -30.1%	0.0	-1.1	57.8 y/y 21.5%	10.1 y/y 168.6%	12.0%	23.4	Report (PDF)
2025-03-31	Q1 2025 (3M)	OK	20.4 y/y 49.0% y/y 49.0%	2.6 y/y 47.7% y/y 47.7%	0.7 y/y 17.5% y/y 17.5%	3.4 y/y 39.7% y/y 39.7%	1.1 y/y 62.4% y/y 62.4%	1.3	-1.3	56.4 y/y 20.0%	9.8 y/y 197.2%	47.9%	22.4	Report (PDF)
2024-12-31	Q4 2024 (3M)	OK	15.0 y/y 10.5% y/y 19.1%	5.8 y/y 92.7% y/y 3241.6%	0.7 y/y 4.7% y/y 15.2%	6.5 y/y 66.8% y/y 1342.0%	3.5 y/y 103.4% y/y 580.0%	1.9	-3.0	55.4 y/y 11.3%	8.7 y/y 237.2%	87.3%	22.6	Report (PDF)
2024-09-30	Q3 2024 (3M)	OK	15.7 y/y 20.8% y/y 20.8%	2.8 y/y 10.7% y/y 10.7%	0.6 y/y 1.6% y/y 1.6%	3.4 y/y 9.0% y/y 9.0%	1.5 y/y -0.0% y/y -0.0%	1.8	-0.9	47.3 y/y -10.4%	5.3 y/y 60.0%	45.1%	21.6	Report (PDF)
2024-06-30	Q2 2024 (3M)	OK	12.1 y/y -0.9% y/y -0.9%	1.3 y/y 4.1% y/y 4.1%	0.6 y/y 2.5% y/y 2.5%	2.0 y/y 3.6% y/y 3.6%	0.4 y/y -35.3% y/y -35.3%	1.1	-1.1	47.6 y/y -10.1%	3.8 y/y 115.1%	48.4%	22.5	Report (PDF)
2024-03-31	Q1 2024 (3M)	OK	13.7 y/y 2.9% y/y 2.9%	1.8 y/y -27.5% y/y -27.5%	0.6 y/y -0.7% y/y -0.7%	2.4 y/y -22.0% y/y -22.0%	0.7 y/y -55.5% y/y -55.5%	-2.1	-1.0	47.0 y/y -14.3%	3.3 y/y 208.2%	92.9%	22.6	Report (PDF)
2023-12-31	Q4 2023 (3M)	OK	12.6 y/y — y/y —	-0.2 y/y — y/y —	0.6 y/y — y/y —	0.5 y/y — y/y —	-0.7 y/y — y/y —	2.4	-1.8	49.8 y/y —	2.6 y/y —	102.0%	19.5	Report (PDF)
2023-09-30	Q3 2023 (3M)	OK	13.0 y/y — y/y —	2.5 y/y — y/y —	0.6 y/y — y/y —	3.2 y/y — y/y —	1.5 y/y — y/y —	2.7	-0.8	52.7 y/y —	3.3 y/y —	80.8%	20.1	Report (PDF)
2023-06-30	Q2 2023 (3M)	OK	12.2 y/y — y/y —	1.3 y/y — y/y —	0.6 y/y — y/y —	1.9 y/y — y/y —	0.7 y/y — y/y —	1.0	-1.3	52.9 y/y —	1.8 y/y —	187.5%	22.0	Report (PDF)
2023-03-31	Q1 2023 (3M)	OK	13.3 y/y — y/y —	2.4 y/y — y/y —	0.6 y/y — y/y —	3.1 y/y — y/y —	1.5 y/y — y/y —	1.6	-1.5	54.9 y/y —	1.1 y/y —	—	21.6	Report (PDF)

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

Net debt	39 376
Short-term debt (incl. ST leases)	22 908
Long-term debt (incl. LT leases)	35 066
− Cash & equivalents	18 598

Net debt / LTM EBITDA: 1.3x

Revenue & EBITDA

RevenueEBITDA

Quarterly values (₽ mln)

Year-over-year change

Cash flow

Operating and investing cash flow (OCF + ICF) (₽ mln)

Net debt / cash (₽ mln)

Profit and cash

Profit is cash-backed

In a typical year of 2021–2025 operating cash flow came to 1.92x of reported net profit; after capex, 0.36x. Loss years (2021) are left out of the ratio.

year	2021	2022	2023	2024	2025
cash flow / profit	—	19.15x	2.55x	0.45x	1.30x
accruals, % of assets	-17.0%	-11.9%	-9.4%	6.0%	-0.8%

Last twelve months (to 2026-06-30): 1.48x of profit came back as operating cash flow.

net debt / EBITDA 2.1x · 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 № 11@ от 18.12.2025 · period 2025–2029 · download order + appendix

Plan NP 2026 ≈ 12.9 vs LTM 5.6 (+131%)
3-year dividends (20% discount): ~31% of market cap
Dividends: actual vs ИПР plan — 2026: 45% ✗
Execution: actual NP vs ИПР plan — 2023: 35% ✗ · 2024: 34% ✗ · 2025: 38% ✗

ИПР financial plan (Form 19), ₽bn:

	2023	2024	2025	2026	2027	2028	2029	2030	2031	2032	2033
Net profit (ИПР)	8.6	18.1	14.9	12.9	37.4	45.6	48.4	52.5	53.6	53.7	52.1
Dividends (ИПР)	1.9	0.0	0.3	5.9	8.0	9.3	10.6	11.7	12.8	13.2	13.6
div, % cur. MCap	3.8%	0.0%	0.6%	11.5%	15.8%	18.3%	20.9%	23.1%	25.3%	26.0%	26.7%

Capex & funding sources, ₽bn:

	2025	2026	2027	2028	2029
Capex (funding)	7.5	8.2	6.8	3.8	3.8
of which profit to investment	1.9	2.3	1.0	0.7	0.7
depreciation	2.8	1.8	2.1	2.3	2.3
attracted funds	2.7	4.1	3.7	0.7	0.7

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

	2022	2023	2024	2025
ИПР plan (prior-year order)	5.5	4.0	4.7	7.5
revised plan (same-year order)	4.7	5.1	5.8	7.5
Actual capex (IFRS cash flow)	5.3	5.4	6.0	7.5
actual vs plan	95%	134%	129%	100%

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

Quality / corporate governance

Potential discount −12% (factor 0.88)

This company's ranking potential is scaled down by a quality/governance factor from the signals below — de-prioritising 'cheap but problematic' names.

Dividend cut harder than profit: 0.0082 -> 0.0038 RUB over 2018-2026 (−54%) while profit -9% (−12%)

Fundamental value creation

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

Value created per year: +19.7%

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) = (8 573 − 2 420) × 3.59	5 520
2. Current EV/EBITDA (LTM) (Market cap + Net debt) ÷ EBITDA (LTM) = (50 952 + 39 376) ÷ 30 766	2.9x
3. Target multiple (Current EV/EBITDA + 6.5) ÷ 2 = (2.9 + 6.5) ÷ 2	4.7x
4. Cash flow (balance method, LTM) Net-debt reduction + dividends + buybacks − equity issuance = -16 025 + 0 + 0 − 0	-16 025
5. Value created per year (EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap = (5 520 × 4.7 + -16 025) ÷ 50 952	+19.7%

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

Caveats:

growth discounted x0.25: EBITDA grew but net profit FELL while net debt rose - debt-funded growth not reaching equity (interest drag)

Revenue growth & acceleration

Growth accelerating ▲

Last-year revenue growth +72% vs +11% the year before — a +61.4 pp move. 3-year CAGR +30%.

revenue growth by year: 2023 +16% · 2024 +11% · 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).

EV/EBITDA — daily history

Current 2.9x · 3-year 75th pct 8.4x

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	2.5	0.3x	0.3x
FGC UES	Russia	1.8	1.7x	1.7x
Lenenergo	Russia	1.9	1.9x	1.9x
NEXTERA ENERGY INC	US	171.0	18.0x	3.3x
CPFL Energia	Brazil	11.4	6.3x	3.3x
Cemig	Brazil	6.6	6.4x	3.4x
Rushydro	Russia	2.6	3.6x	3.6x
DEWA (Dubai Electricity & Water)	UAE	36.5	10.0x	3.8x
Equatorial Energia	Brazil	12.2	10.9x	5.8x
En+ Group	Russia	2.6	6.4x	6.4x
Manila Electric (Meralco)	Philippines	7.4	12.1x	7.8x
Energisa	Brazil	33.1	23.2x	12.2x
Group median			6.4x	3.5x
Group average			8.4x	4.5x
This company	Russia	0.6	2.9x	2.9x

Group median 6.4x as traded, 3.5x adjusted; this company 2.9x — a 16% discount.

Group average 8.4x as traded, 4.5x adjusted; against the average this company is at a 34% discount. The average sits 27% above the median: Energisa (12.2x) skews the group.

At the adjusted group median the market cap would be +33% 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 20.4x, Russia 3.7x, South Africa 5.0x, Kazakhstan 4.6x, India 17.0x, Indonesia 5.4x); it is about where a name is listed, not what it does. Peer multiples come from the nightly rebuild of 2026-10-25; the company's own is live.

Dividend — grid ИПР model

Expected dividend: 5863 mln RUB · 11.6% · upside -18%

ИПР-planned dividend (company pays) Last actual payout: 2026.

Year	ИПР plan, mln	Actual, mln
2028	9274	—
2029	10636	—
2030	11736	—
2031	12826	—
2032	13204	—
2033	13582	—

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

Paid, trailing 12-mo: 0.00 RUB/sh · 5.1%

Pay year	Dividend /sh
2026	0.00 ₽
2019	0.01 ₽
2018	0.01 ₽
2016	0.00 ₽
2014	0.00 ₽

Payments by period

Period	Last day to buy	/sh
2026 q2	2026-06-23	0.00 ₽
2019 q2	2019-06-17	0.01 ₽
2018 q2	2018-06-18	0.01 ₽
2016 q2	2016-06-22	0.00 ₽
2014 q3	2014-07-10	0.00 ₽

Dividends

No dividend rows found for this issuer.

Corporate events

27.08.26	Filing	★ ▲ Финансовые результаты деятельности эмитента (компаний группы эмитента) (прогнозные, предварительные, фактические) В первом полугодии 2026 года выручка ПАО «Россети Юг» составила 95,4 млрд. руб., что на 150% больше, чем в аналогичном периоде 2025 года. EBITDA увеличилась до 20,8 млрд. руб. (+243,4%), а чистая прибыль достигла 7,4 млрд. руб. (+425,5%). Увеличение показателей связано с реорганизацией через присоединение АО «Россети Кубань».
22.10.26	AGM / Board	Решения совета директоров (наблюдательного совета) Совет директоров ПАО «Россети Юг» утвердил новый Регламент переустройства объектов, осуществляемого по инициативе третьих лиц. На заседании, состоявшемся 22 октября 2026 года, кворум составил 11 из 11 членов, решение было принято единогласно. Ранее действующий регламент, утвержденный 7 июня 2023 года, признан утратившим силу.
11.06.26	AGM / Board	Решения общих собраний участников (акционеров) 10 июня 2026 года на годовом собрании акционеров ПАО «Россети Юг» был утвержден годовой отчет и бухгалтерская отчетность за 2025 год. Также было решено выплатить дивиденды в размере 0,00377 руб. на акцию, с датой определения акционеров 24 июня 2026 года. Кворум по всем вопросам повестки дня составил 96,9%.

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 South (MRKY) — from primary filings.

IDGC South (MRKY) RUB

Price chart

Key metrics

Market

Growth

Multiples

Cash return

Value creation

Liquidity