Rusolovo is Russia's largest tin producer, mining and processing tin ore at deposits in Khabarovsk Krai; part of the Seligdar group.
Sector: Mining
RU_ROLO
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.
Shares: connector/market_inputs
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.
| Date | Period | Status | RevenueM USD | Operating profitM USD | D&AM USD | EBITDAM USD | Net profitM USD | Operating CFM USD | Capex + M&AM USD | AssetsM USD | EquityM USD | ROE (annualized) | Net debtM USD | Source |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026-06-30 | H1 2026 (6M) | PARTIAL | 112.0 y/y 117.5% | 12.9 y/y — | 19.7 y/y 41.1% | 32.6 y/y — | 2.3 y/y — | 19.5 | -21.8 | 526.5 y/y 12.5% | 12.8 y/y -70.5% | 40.1% | 328.9 | Report (PDF) |
| 2025-12-31 | H2 2025 (6M) | OK | 58.9 y/y 41.3% | -18.9 y/y -41.5% | 14.4 y/y 106.4% | -4.5 y/y 29.0% | -26.7 y/y -60.5% | 26.7 | -20.9 | 475.7 y/y 39.9% | 10.4 y/y -83.1% | -222.6% | 311.7 | Report (PDF) |
| 2025-06-30 | H1 2025 (6M) | OK | 51.5 y/y 33.5% | -25.2 y/y — | 14.0 y/y 66.6% | -11.2 y/y — | -33.3 y/y — | -39.1 | -16.7 | 468.0 y/y 50.5% | 43.4 y/y 24.4% | -126.6% | 273.0 | Report (PDF) |
| 2024-12-31 | H2 2024 (6M) | OK | 42.4 y/y 2.3% | -13.8 y/y -64.2% | 7.1 y/y -35.7% | -6.6 y/y -342.0% | -17.1 y/y -48.6% | -14.3 | -25.5 | 340.0 y/y 23.2% | 61.9 y/y 15.9% | -75.8% | 166.8 | Report (PDF) |
| 2024-06-30 | H1 2024 (6M) | OK | 38.6 y/y 14.2% | -17.2 y/y — | 8.4 y/y 25.9% | -8.8 y/y -481.4% | -20.0 y/y — | 6.8 | -16.5 | 310.9 y/y 14.7% | 34.8 y/y -47.7% | -90.7% | 117.4 | Report (PDF) |
| 2023-12-31 | H2 2023 (6M) | PARTIAL | 39.8 y/y — | -7.8 y/y — | 10.5 y/y — | 2.6 y/y — | -10.9 y/y — | -4.4 | -32.5 | 275.9 y/y — | 53.4 y/y — | -32.5% | 95.9 | Report (PDF) |
| 2023-06-30 | H1 2023 (6M) | PARTIAL | 33.8 y/y — | -4.4 y/y — | 6.7 y/y — | 2.3 y/y — | -8.0 y/y — | 10.8 | -11.5 | 271.0 y/y — | 66.7 y/y — | — | 64.8 | Report (PDF) |
Conversion to USD. Balance sheet: rate effective on 2026-06-30, fixing date 2026-06-30. Flows: sampled average at each calculation period's bounds and monthly 15ths. Latest source row: 2026-01-01 — 2026-06-30. Source: Bank of Russia R01235. Rates
Quarterly values ($ mln)
Year-over-year change
Cash flow (OCF + ICF; OCF − capex when ICF is unavailable) ($ mln)
Net debt / cash ($ mln)
| year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| cash flow / profit | 1.37x | — | — | — | — |
| accruals, % of assets | -3.2% | -7.7% | -8.3% | -7.7% | -10.1% |
Our earnings breakdowns and investment notes on this issuer.
Current 51 548spot vs LTM +20%
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 company's 3-YEAR MEDIAN EV/EBITDA (clamped to 1-10x). Cash costs are indexed by RU inflation (~7%); a pure producer has no commodity cost driver to re-price.
USD/RUB: spot 81 vs LTM-avg 79 → ×1.03 (ruble weaker → more RUB revenue); applied to USD-priced commodities (RUB gold left as-is). EV/EBITDA capped at 10x (actual 17.6× distorted by a low-EBITDA year).
Upside (conservative): -90% · spot +47% · 3-yr -90%
How it is calculated — revenue → costs → EBITDA → conservative EBITDA → target market cap
| 1 · Reported baseline (LTM to 2026-06-30) | |
| Revenue | 13.3 bln RUB |
| EBITDA | 2.1 bln RUB |
| Cash costs (revenue − EBITDA) | 11.2 bln RUB |
| 2 · Revenue projection | |
| Multiplier — spot | ×1.21 (+21%) |
| = Spot revenue | 16.0 bln RUB |
| Multiplier — 3-yr prices | ×0.92 (-8%) |
| = 3-yr-price revenue | 12.2 bln RUB |
| 3 · Cost projection (+ RU inflation ~5%) | |
| Cost multiplier | ×1.05 (+5%) |
| = Cash costs | 11.7 bln RUB |
| 4 · EBITDA projection (revenue − costs) | |
| = Spot EBITDA | 4.3 bln RUB |
| = 3-yr-price EBITDA | 469 mln RUB |
| = Avg-scenario EBITDA (spot + 3-yr)/2 | 2.4 bln RUB |
| Conservative EBITDA = min(spot, avg(spot, 3-yr)) | 2.4 bln RUB |
| 5 · Valuation → target market cap | |
| EV/EBITDA (3y hist. p75, capped 10x) | 10.0x |
| Target EV = EV/EBITDA × conservative EBITDA | 23.9 bln RUB |
| Net debt (as of 2026-06-30) | 25.6 bln RUB |
| Target market cap = EV − net debt | 0 mln RUB |
| Current market cap | 12.0 bln RUB |
Upside = target market cap ÷ current − 1 = -90%
Product prices — move vs the LTM average; the 'RUB' columns include the USD/RUB move.
| Commodity | Revenue share | Spot | LTM avg | $ vs LTM | RUB vs LTM (FX) | RUB 3-yr (FX) |
|---|---|---|---|---|---|---|
| Tin | 90% | 51 548.50 | 43 069.91 | +20% | +23% | -9% |
Current 17.6x · 3-year 75th pct 108.7x
Group: Mining. Every peer trades on the same market, so no adjustment is needed.
| Company | Market | Cap, $bn | EV/EBITDA |
|---|---|---|---|
| Polyus | Russia | 12.6 | 3.6x |
| Yuzhuralzoloto Group | Russia | 2.0 | 3.7x |
| Nornickel | Russia | 21.1 | 5.0x |
| Seligdar | Russia | 0.5 | 5.2x |
| Alrosa | Russia | 1.8 | 7.9x |
| Group median | 5.0x | ||
| Group average | 5.1x | ||
| This company | Russia | 0.1 | 17.0x |
Group median 5.0x; this company 17.0x — a 239% premium.
Group average 5.1x; against the average this company is at a 233% premium.
At the adjusted group median the market cap would be -219% 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 20.9x, Russia 3.7x, South Africa 5.0x, Kazakhstan 4.7x, India 18.8x, Indonesia 5.1x); it is about where a name is listed, not what it does. Peer multiples come from the nightly rebuild of 2026-10-22; the company's own is live.
No dividend rows found for this issuer.
| 15.07.26 | AGM / Board | Решения 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. |
| 01.06.26 | AGM / Board | Решения 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.
See also: The Cheapest Metals & Mining Stocks (2026): Copper, Steel, Silver by Valuation · The Cheapest Stocks in the World (2026): What Value Investing Says About Buying Cheap · global valuation map