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Rusolovo (ROLO) RUB

At a glance: strengths & risks
Revenue growing (+23%)Margins improving (-19%→-15%)Loss-making last FY

Sector: Mining

RU_ROLO

Price chart

0.3904 RUBDay 2.09%

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
0.3904 RUB · 2.09%
Market cap
11.7 bn RUB

Growth

Δ revenue y/y
18.3%
Δ EBITDA y/y

Multiples

P/E (LTM)
P/B (FY)
14.3x
P/E (ann.)
<0
EV/EBITDA (LTM)
EV/EBITDA (ann.)
<0

Cash return

Dividend yield
FCF yield (LTM)
-134.7%

Value creation

to target market cap (spot commodity model)
Upside (potential)

Liquidity

Daily turnover (MOEX)
133 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 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.

DatePeriodStatusRevenueM RUBOperating profitM RUBD&AM RUBEBITDAM RUBNet profitM RUBOperating CFM RUBCapex + M&AM RUBAssetsM RUBEquityM RUBROE (annualized)Net debtM RUBSource
2025-12-31H2 2025 (6M)OK4711.9
y/y 18.3%
-1513.0
y/y -17.1%
1149.2
y/y 71.3%
-363.8
y/y 41.4%
-2137.2
y/y -33.2%
2133.4-1704.437208.6
y/y 7.6%
817.0
y/y -87.0%
-238.3%24379.6Report (PDF)
2025-06-30H1 2025 (6M)OK4467.4
y/y 28.7%
-2186.4
y/y
1212.9
y/y 60.6%
-973.5
y/y
-2889.6
y/y
-3395.4-1449.536720.5
y/y 37.7%
3401.8
y/y 13.9%
-119.2%21419.8Report (PDF)
2024-12-31H2 2024 (6M)OK3983.9
y/y 8.0%
-1291.8
y/y -77.4%
670.9
y/y -31.0%
-620.9
y/y -354.9%
-1604.0
y/y -58.4%
-1344.9-2412.934569.4
y/y 39.7%
6291.4
y/y 31.4%
-73.4%16958.3Report (PDF)
2024-06-30H1 2024 (6M)OK3471.4
y/y 34.1%
-1550.9
y/y
755.4
y/y 47.9%
-795.5
y/y -548.1%
-1801.7
y/y
610.4-1484.026657.4
y/y 13.0%
2987.8
y/y -48.5%
-92.7%10063.6Report (PDF)
2023-12-31H2 2023 (6M)PARTIAL3688.3
y/y
-728.2
y/y
971.7
y/y
243.6
y/y
-1012.7
y/y
-406.8-2790.324741.2
y/y
4789.5
y/y
-30.7%8602.9Report (PDF)
2023-06-30H1 2023 (6M)PARTIAL2588.0
y/y
-333.3
y/y
510.8
y/y
177.5
y/y
-613.5
y/y
824.3-879.823583.0
y/y
5802.2
y/y
9134.5Report (PDF)

Revenue & EBITDA

RevenueEBITDA

Quarterly values (₽ mln)

-2 00002 0004 0002023 H12023 H22024 H12024 H22025 H12025 H2

Year-over-year change

-400%-300%-200%-100%0%2023 H12023 H22024 H12024 H22025 H12025 H2

Cash flow

FCF (₽ mln)

-6 000-4 000-2 00002023 H12023 H22024 H12024 H22025 H12025 H2

Net debt / cash (₽ mln)

05 00010 00015 00020 00025 0002023 H12023 FY2024 H12024 FY2025 H12025 FY

Profit and cash

Profit is cash-backed
In a typical year of 2021–2025 operating cash flow came to 1.37x of reported net profit; after capex, 0.16x. Loss years (2022, 2023, 2024, 2025) are left out of the ratio.
year20212022202320242025
cash flow / profit1.37x
accruals, % of assets-3.2%-7.7%-8.3%-7.7%-10.1%
capex 2.2x 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.

Key-commodity price — Tin

Current 55 895spot vs LTM +64%

Commodity price upside

The same staged build as the commodity players: revenue → costs → EBITDA → conservative EBITDA (min of the spot case and the spot/3-yr average) → target market cap at the 3-year historical (p75) EV/EBITDA. Cash costs are indexed by RU inflation (~7%); a pure producer has no commodity cost driver to re-price.

USD/RUB: spot 83 vs LTM-avg 78 → ×1.05 (ruble weaker → more RUB revenue); applied to USD-priced commodities (RUB gold left as-is).

Upside (conservative): -90% · spot -90% · 3-yr -90%

How it is calculated — revenue → costs → EBITDA → conservative EBITDA → target market cap

1 · Reported baseline (latest FY)
Revenue9.2 bln RUB
EBITDA-1.3 bln RUB
Cash costs (revenue − EBITDA)10.5 bln RUB
2 · Revenue projection
Multiplier — spot×1.65 (+65%)
= Spot revenue15.2 bln RUB
Multiplier — 3-yr prices×1.10 (+10%)
= 3-yr-price revenue10.1 bln RUB
3 · Cost projection (+ RU inflation ~5%)
Cost multiplier×1.05 (+5%)
= Cash costs11.0 bln RUB
4 · EBITDA projection (revenue − costs)
= Spot EBITDA4.1 bln RUB
= 3-yr-price EBITDA-924 mln RUB
= Avg-scenario EBITDA (spot + 3-yr)/21.6 bln RUB
Conservative EBITDA = min(spot, avg(spot, 3-yr))1.6 bln RUB
5 · Valuation → target market cap
EV/EBITDA (3y hist. p75)1.0x
Target EV = EV/EBITDA × conservative EBITDA1.6 bln RUB
Net debt24.4 bln RUB
Target market cap = EV − net debt0 mln RUB
Current market cap9.1 bln RUB

Upside = target market cap ÷ current − 1 = -90%

Product prices — move vs the LTM average; the 'RUB' columns include the USD/RUB move.

CommodityRevenue shareSpotLTM avg$ vs LTMRUB vs LTM (FX)RUB 3-yr (FX)
Tin90%55 895.0034 140.48+64%+72%+11%

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth +23% vs +19% the year before — a +4.3 pp move. 3-year CAGR +15%.
revenue growth by year: 2023 +5% · 2024 +19% · 2025 +23%
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).

Dividends

No dividend rows found for this issuer.

Corporate events

10.04.26Filing Совершение эмитентом существенной сделки
ПАО «Русолово» заключило крупную сделку с ПАО «Совкомбанк» на сумму до 5,07 млрд. руб., что составляет 13,81% от стоимости активов компании. Договор вступает в силу 01.04.2026 и действует до 16.02.2029. Принципал обязуется компенсировать Агенту 100% суммы платежа, уплаченного в пользу Кредиторов.
15.07.26AGM / BoardРешения совета директоров (наблюдательного совета)
Совет директоров ПАО 'Русолово' принял решения о переизбрании Сергея Антонова на пост Генерального директора на 5 лет с 01.08.2026 и утвердил новый состав Правления на тот же срок. Также согласованы условия трудового договора с Генеральным директором и членами Правления.
01.06.26AGM / BoardРешения общих собраний участников (акционеров)
На годовом общем собрании акционеров ПАО «Русолово», состоявшемся 27 мая 2026 года, был утвержден годовой отчет и бухгалтерская отчетность за 2025 год. Дивиденды по результатам 2025 года не будут выплачены из-за убытков. Назначена аудиторская организация для проведения аудита за 2026 год.

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 Rusolovo (ROLO) — from primary filings.

Frequently asked questions

What is Rusolovo (ROLO)'s P/B ratio?
Rusolovo (ROLO) trades at a P/B of 14.3x.
What is Rusolovo (ROLO)'s return on equity (ROE)?
Rusolovo (ROLO)'s ROE is -238.3%.
What is Rusolovo (ROLO)'s market capitalization?
Rusolovo (ROLO)'s market cap is 11.7 bn RUB.

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