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Ozon Pharm (OZPH) USD

At a glance: strengths & risks
✓Revenue growing (+24%)✓Profit growing (+34%)✓Margins improving (35%→38%)✓Low leverage (0.8x EBITDA)

Sector: Healthcare

RU_OZPH

Price chart

42.98 RUBDay 1.06%

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
42.98 RUB · 1.06%
Market cap
704 mln USD

Growth

Δ revenue y/y
15.4%
Δ EBITDA y/y
16.4%

Multiples

P/E (LTM)
8.1x
3y avg: 10.1x
P/B (FY)
1.5x
P/E (ann.)
4.6x
EV/EBITDA (LTM)
59.4x
3y avg: 72.8x
EV/EBITDA (ann.)
41.7x

Cash return

Dividend yield
2.3%
FCF yield (LTM)
—

Value creation

fundamental value/yr, % of market cap
Value created / year
+176.6%
↓ details

Liquidity

Daily turnover (MOEX)
689.6 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 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.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2025-12-31Q4 2025 (3M)OK142.4
y/y 15.4%
55.4
y/y 16.8%
4.3
y/y 6.8%
59.9
y/y 16.3%
38.2
y/y 17.9%
-0.8-996.2746.6
y/y 7.5%
465.6
y/y 31.0%
19.3%9288.5Report (PDF)
2025-09-30Q3 2025 (3M)OK114.6
y/y 52.7%
40.4
y/y 138.3%
4.4
y/y 0.0%
44.8
y/y 110.0%
24.3
y/y 356.3%
-25.1-1009.5720.0
y/y 25.8%
430.2
y/y 33.7%
7.7%8300.0Report (PDF)
2025-06-30Q2 2025 (3M)OK89.9
y/y -4.2%
24.4
y/y -15.1%
4.5
y/y 19.8%
28.9
y/y -11.1%
10.1
y/y -37.2%
32.8-990.2706.1
y/y 31.0%
408.2
y/y 30.0%
10.4%7296.4Report (PDF)
2025-03-31Q1 2025 (3M)OK96.1
y/y 45.2%
31.0
y/y 70.0%
3.6
y/y 0.0%
34.6
y/y 58.4%
13.9
y/y 28.0%
5.9-735.0696.1
y/y —
369.3
y/y —
15.4%8700.0Report (PDF)
2024-12-31Q4 2024 (3M)OK123.4
y/y 46.7%
47.5
y/y 137.0%
4.1
y/y -68.6%
51.5
y/y 56.6%
32.4
y/y 164.8%
-5.6-3516.8694.8
y/y 45.2%
355.3
y/y 48.0%
19.1%10167.4Report (PDF)
2024-09-30Q3 2024 (3M)OK75.0
y/y -8.5%
17.0
y/y -53.1%
4.4
y/y 1404.3%
21.3
y/y -41.5%
5.3
y/y -80.4%
-11.7-18.9572.1
y/y —
321.7
y/y —
2.2%10097.0Report (PDF)
2024-06-30Q2 2024 (3M)OK93.9
y/y 73.1%
28.7
y/y 186.5%
3.8
y/y 19.4%
32.5
y/y 146.6%
16.0
y/y 253.1%
66.2-736.9539.1
y/y —
313.9
y/y —
—8209.8Report (PDF)
2024-03-31Q1 2024 (3M)PARTIAL66.2
y/y —
18.2
y/y —
3.6
y/y —
21.8
y/y —
10.9
y/y —
32.8-9.4—
y/y —
—
y/y —
—10006.0Report (PDF)
2023-12-31Q4 2023 (3M)OK84.1
y/y —
20.0
y/y —
12.9
y/y —
32.9
y/y —
12.2
y/y —
-33.4-198.7478.5
y/y —
240.1
y/y —
—13478.1Report (PDF)
2023-09-30Q3 2023 (3M)PARTIAL82.0
y/y —
36.2
y/y —
0.3
y/y —
36.5
y/y —
27.1
y/y —
22.6-3.6—
y/y —
—
y/y —
—9058.0Report (PDF)
2023-06-30Q2 2023 (3M)PARTIAL54.2
y/y —
10.0
y/y —
3.2
y/y —
13.2
y/y —
4.5
y/y —
28.9-109.6—
y/y —
—
y/y —
—9458.0—

Revenue & EBITDA

RevenueEBITDA

Quarterly values (₽ mln)

-500501001502002023 q32023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q4

Year-over-year change

-200%-100%0%100%2023 q32023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q4

Cash flow

FCF (₽ mln)

-40-20020402023 q32023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q4

Net debt / cash (₽ mln)

05 00010 00015 0002023 q32023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q4

Category demand: Лекарства и медицинские товары (SberIndex) — backdrop

The “Лекарства и медицинские товары” category is weekly consumer pharmacy spending (% YoY), i.e. retail demand. For a manufacturer like Ozon Pharmaceutica this is only a demand backdrop, not a revenue proxy — sales depend on product mix, launches and B2B/government channels — so no spread to revenue is shown.

Лекарства и медицинские товары latest week (2026-07-18): +10.7% YoY · flat3-wk smooth: +10.4% vs 8-wk avg +10.4% (+0.0 pp)All categories: +7.5%

-5%+4%+12%+21%+30%Q3'24+16%Q4'24+14%Q1'25+16%Q2'25+14%Q3'25+10%Q4'25+9%Q1'26+5%Q2'26+9%Q3'26+10%+10.7%weekly % YoYquarter average

Average growth by quarter, % YoY: * квартал ещё не закончен

2кв 2025
+13.9%
3кв 2025
+9.7%
4кв 2025
+8.7%
1кв 2026
+4.9%
2кв 2026
+8.8%
3кв 2026 *
+10.4%

Source: SberIndex, updated 2026-07-24.

Fundamental value creation

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

Value created per year: +176.6%

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)
= (60 − 51) × 2.80
24
2. Current EV/EBITDA (LTM)
(Market cap + Net debt) ÷ EBITDA (LTM)
= (704 + 9 288) ÷ 168
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
= 879 + 3 + 0 − 0
882
4b. Share dilution (at market, LTM)
Share-count growth over the year × Market cap
= 9.9% × 704
−70
5. Value created per year
(EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap
= (24 × 18.2 + 882 − 70) ÷ 704
+176.6%

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

Caveats:

  • share-count dilution 9.9%/yr (valued at market: -70)

Revenue growth & acceleration

Growth decelerating ▼
Last-year revenue growth +24% vs +30% the year before — a -6.0 pp move. 3-year CAGR +19%.
revenue growth by year: 2023 +4% · 2024 +30% · 2025 +24%
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 potential

Dividend-model upside: -62%

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)6 bn RUB
Payout ratio19%
Free cash flow (FY, OCF − capex) — not a cap (leverage 0.8x)-1 bn RUB
Recent actual dividend (3-yr median)1.06 ₽
= Forecast dividend per share1.06 ₽
2 · Fair yield (spread to key rate)
CBR key rate14.2%
Historical yield spread to rate (3-yr median)-15.1 pp
= Fair dividend yield7.0%
3 · Valuation → upside
Current price41.10 ₽
Forecast dividend yield2.6%
Fair price (dividend-based)15.67 ₽

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

Dividend history

Paid, trailing 12-mo: 1.06 RUB/sh · 2.6%

Pay yearDividend /sh
20260.81 ₽
20250.79 ₽
20240.18 ₽
Payments by period
PeriodEx-date/sh
2026 q32026-07-070.27 ₽
2026 q22026-06-020.27 ₽
2026 q12026-01-090.27 ₽
2025 q42025-10-030.25 ₽
2025 q32025-07-020.28 ₽
2025 q22025-06-040.26 ₽
2024 q42024-12-260.18 ₽

Dividends

No dividend rows found for this issuer.

Corporate events

09.07.26Filing★ ▼ Совершение подконтрольной эмитенту организацией существенной сделки
Компания 'Озон Фармацевтика' заключила крупную сделку на сумму 20,25 млрд. руб., что составляет 38,04% от стоимости активов, с поручительством перед 'Альфа-Банком' до 2035 года. Сделка связана с кредитным соглашением на возобновляемую кредитную линию.
26.06.26Filing★ ▲ Дата определения (фиксации) лиц, имеющих право на осуществление прав по ценным бумагам эмитента
ПАО 'Озон Фармацевтика' установило дату фиксации прав акционеров на получение дивидендов по обыкновенным акциям на 8 июля 2026 года. Регистрационный номер выпуска ценных бумаг: 1-01-10877-P, ISIN: RU000A109B25.
26.06.26AGM / Board★ ▲ Решения общих собраний участников (акционеров)
28.05.26Material event★ ▲ События (действия), оказывающие, по мнению эмитента, существенное влияние на стоимость или котировки его ценных бумаг
Совет директоров ПАО 'Озон Фармацевтика' рекомендовал выплатить дивиденды за 1 квартал 2026 года в размере 315,3 млн руб., что составляет 0,27 руб. на акцию. Дата, на которую определяются лица, имеющие право на получение дивидендов, установлена на 8 июля 2026 года.
28.05.26AGM / Board★ ▲ Решения совета директоров (наблюдательного совета)
Совет директоров ПАО 'Озон Фармацевтика' рекомендовал выплатить дивиденды за 3 месяца 2026 года в размере 315,3 млн. руб., что составит 0,27 руб. на акцию. Дата определения лиц, имеющих право на получение дивидендов, предложена на 8 июля 2026 года.
19.05.26Filing★ ▲ Созыв общего собрания участников (акционеров)
ПАО 'Озон Фармацевтика' проведет внеочередное общее собрание акционеров 24 июня 2026 года в форме заочного голосования. Повестка дня включает вопрос о выплате дивидендов по итогам работы за 3 месяца 2026 года. Дата окончания приема бюллетеней для голосования также 24 июня 2026 года.

Source: e-disclosure material filings over the last 180 days; ★ — flagged important by the classifier; summaries are automatic.

RU equity fund ownership

Disclosed in the top-10 of 1 of 17 funds, ≈7 млн ₽ combined.

FundManagerWeight≈PositionΔ weight m/mDisclosure
SIPO Первая – Фонд АйПиОПервая8.76%7 млн ₽—29.05.2026

Source: monthly fund portfolio disclosures (investfunds); NAV is daily. Disclosures list each fund's top-10 only, so absence does not mean no position. Weight changes mix revaluation with trading. Fund flows and betas live in the fund monitor on the RU region page.

Investment-community mentions

Substantive mentions last 7 days: 0, last 30 days: 2 (1 positive, 1 negative) across tracked channels, broker research and shows. 9 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.

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 Ozon Pharm (OZPH) — from primary filings.

Frequently asked questions

What is Ozon Pharm (OZPH)'s P/E ratio?
Ozon Pharm (OZPH) trades at a P/E of 8.1x (price to trailing 12-month earnings).
What is Ozon Pharm (OZPH)'s EV/EBITDA?
Ozon Pharm (OZPH) trades at 59.4x EV/EBITDA.
What is Ozon Pharm (OZPH)'s P/B ratio?
Ozon Pharm (OZPH) trades at a P/B of 1.5x.
What is Ozon Pharm (OZPH)'s dividend yield?
Ozon Pharm (OZPH)'s trailing 12-month dividend yield is 2.3%.
What is Ozon Pharm (OZPH)'s return on equity (ROE)?
Ozon Pharm (OZPH)'s ROE is 32.8%.
What is Ozon Pharm (OZPH)'s market capitalization?
Ozon Pharm (OZPH)'s market cap is 704 mln USD.