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SPB Exchange (SPBE) RUB

SPB Exchange is a Russian securities exchange that built its business on trading foreign shares and, after sanctions, focuses on Russian equities, funds and new listings.

At a glance: strengths & risks
Revenue declining (-16% y/y, H1 2026)Profit falling (-62% y/y, H1 2026)Low ROE (3%)

Sector: Financial Services

RU_SPBE

Price chart

143.8 RUBDay -0.90%

Key metrics

Market

Price
143.8 RUB · -0.90%
Market cap
19.1 bn RUB

Growth

Δ revenue y/y
-16.1%
Δ EBITDA y/y

Multiples

P/E (LTM)
33.3x
3y avg: 28.4x
P/B (FY)
0.9x
3y avg: 1.0x
P/E (ann.)
288.3x

Returns

Dividend yield
ROE (annualized)
0.3%
ROI (ROE ÷ P/B)
0.3%

Value creation

annualized net income / market cap (return on equity value)
Banking potential

Liquidity

Daily turnover (MOEX)
1.7 bln 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 RUBNet profitM RUBAssetsM RUBEquityM RUBROE (annualized)Source
2026-06-30H1 2026 (6M)OK1455.9
y/y -16.1%
33.1
y/y -62.0%
91876.8
y/y 14.0%
21813.0
y/y 7.6%
0.3%Report (PDF)
2025-12-31H2 2025 (6M)OK2364.1
y/y -11.8%
540.8
y/y -2.3%
88976.8
y/y -1.3%
20678.2
y/y 4.2%
3.1%Report (PDF)
2025-06-30H1 2025 (6M)OK1734.5
y/y 36.3%
87.1
y/y -83.0%
80618.1
y/y -21.1%
20280.0
y/y 2.9%
0.9%Report (PDF)
2024-12-31H2 2024 (6M)OK2679.5
y/y -53.6%
553.8
y/y 849.0%
90162.2
y/y -20.1%
19838.2
y/y 2.1%
5.4%Report (PDF)
2024-06-30H1 2024 (6M)OK1272.4
y/y -12.7%
511.5
y/y -17.5%
102188.7
y/y -8.4%
19699.9
y/y 2.2%
5.2%Report (PDF)
2023-12-31H2 2023 (6M)OK5780.9
y/y
58.4
y/y
112857.6
y/y
19424.3
y/y
3.5%Report (PDF)
2023-06-30H1 2023 (6M)OK1458.1
y/y
619.9
y/y
111570.7
y/y
19268.4
y/y
Report (PDF)

Research & reviews

Our earnings breakdowns and investment notes on this issuer.

All research →

Quality / corporate governance

Potential discount −18% (factor 0.82)

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

Dividends

No dividend rows found for this issuer.

Investment-community mentions

Substantive mentions last 7 days: 0, last 30 days: 1 across tracked channels, broker research and shows. 7 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.

Corporate events

31.08.26AGM / BoardРешения совета директоров (наблюдательного совета)
Совет директоров ПАО «СПБ Биржа» утвердил новые правила управления рисками для различных направлений деятельности. Все решения были приняты единогласно с 8 голосами "За". Заседание состоялось 28 августа 2026 года, протокол составлен 31 августа 2026 года.
11.08.26AGM / BoardРешения общих собраний участников (акционеров)
На общем собрании акционеров ПАО «СПБ Биржа» 7 августа 2026 года было принято решение не начислять и не выплачивать дивиденды по результатам 2025 года. Также утверждены годовой отчет и годовая бухгалтерская отчетность за 2025 год. В собрании приняло участие 38,25% акционеров.

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 SPB Exchange (SPBE) — from primary filings.

Frequently asked questions

What is SPB Exchange (SPBE)'s P/E ratio?
SPB Exchange (SPBE) trades at a P/E of 33.3x (price to trailing 12-month earnings).
What is SPB Exchange (SPBE)'s P/B ratio?
SPB Exchange (SPBE) trades at a P/B of 0.9x.
What is SPB Exchange (SPBE)'s return on equity (ROE)?
SPB Exchange (SPBE)'s ROE is 0.3%.
What is SPB Exchange (SPBE)'s market capitalization?
SPB Exchange (SPBE)'s market cap is 19.1 bn RUB.

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