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.
Sector: Financial Services
RU_SPBE
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 | Net profitM USD | AssetsM USD | EquityM USD | ROE (annualized) | Source |
|---|---|---|---|---|---|---|---|---|
| 2026-06-30 | H1 2026 (6M) | OK | 19.0 y/y -4.8% | 0.4 y/y -56.9% | 1181.6 y/y 15.0% | 280.5 y/y 8.5% | 0.3% | Report (PDF) |
| 2025-12-31 | H2 2025 (6M) | OK | 29.6 y/y 4.1% | 6.8 y/y 16.9% | 1137.4 y/y 28.3% | 264.3 y/y 35.5% | 2.9% | Report (PDF) |
| 2025-06-30 | H1 2025 (6M) | OK | 20.0 y/y 41.4% | 1.0 y/y -82.3% | 1027.4 y/y -13.8% | 258.4 y/y 12.5% | 0.9% | Report (PDF) |
| 2024-12-31 | H2 2024 (6M) | OK | 28.5 y/y -57.9% | 5.9 y/y 14350.3% | 886.7 y/y -29.5% | 195.1 y/y -9.9% | 5.4% | Report (PDF) |
| 2024-06-30 | H1 2024 (6M) | OK | 14.1 y/y -25.7% | 5.7 y/y -29.8% | 1191.7 y/y -7.0% | 229.7 y/y 3.8% | 5.1% | Report (PDF) |
| 2023-12-31 | H2 2023 (6M) | OK | 62.3 y/y — | 0.6 y/y — | 1258.3 y/y — | 216.6 y/y — | 3.7% | Report (PDF) |
| 2023-06-30 | H1 2023 (6M) | OK | 19.0 y/y — | 8.1 y/y — | 1281.9 y/y — | 221.4 y/y — | — | 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
Our earnings breakdowns and investment notes on this issuer.
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.
Current 1.08x · 3-year median 0.94x
P/B is market cap ÷ equity of the latest reported quarter, P/E is ÷ profit of the last four quarters. EV/EBITDA is not computed for financials: EBITDA is not a meaningful line for them and their net debt is operating liquidity, not leverage.
Group: Financial Services. Every peer trades on the same market, so no adjustment is needed.
| Company | Market | Cap, $bn | P/E |
|---|---|---|---|
| MTS Bank | Russia | 0.4 | 1.9x |
| Mosgorlombard | Russia | 0.0 | 2.2x |
| Bank VTB | Russia | 15.3 | 2.8x |
| Sovcombank | Russia | 2.8 | 2.8x |
| Sberbank | Russia | 80.3 | 3.5x |
| DOM.RF | Russia | 4.6 | 3.5x |
| Zaymer | Russia | 0.2 | 3.7x |
| Bank Sankt-Peterburg | Russia | 1.4 | 3.8x |
| TBank | Russia | 8.8 | 3.9x |
| CarMoney | Russia | 0.0 | 4.6x |
| Europlan | Russia | 1.0 | 10.6x |
| Credit Bank of Moscow | Russia | 4.1 | 14.9x |
| Group median | 3.6x | ||
| Group average | 4.8x | ||
| This company | Russia | 0.3 | 39.5x |
Group median 3.6x; this company 39.5x — a 995% premium.
Group average 4.8x; against the average this company is at a 715% premium. The average sits 34% above the median: Credit Bank of Moscow (14.9x) skews the group.
At the adjusted group median the market cap would be -91% 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 28.3x, Russia 5.9x, South Africa 11.1x, Kazakhstan 9.2x, India 27.4x, Indonesia 7.3x); 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.
Substantive mentions last 7 days: 0, last 30 days: 3 (3 positive) across tracked channels, broker research and shows. 4 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.
| 23.09.26 | AGM / Board | Решения совета директоров (наблюдательного совета) 22 сентября 2026 года совет директоров ПАО «СПБ Биржа» утвердил новое Положение об Экспертном совете по листингу ценных бумаг с единогласным голосованием 8 из 8 членов. Решение было принято в рамках заочного голосования. |
| 11.08.26 | AGM / Board | Решения 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), profitability and dividend yield of SPB Exchange (SPBE) — from primary filings.
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