TNS Energo is a holding of guaranteed electricity supply companies in several Russian regions, buying power on the wholesale market and selling it to end consumers.
Sector: Utilities
RU_TNSE
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) | OK | 2482.2 y/y 31.8% | 170.2 y/y 19.7% | 7.4 y/y 70.4% | 177.6 y/y 21.2% | 155.5 y/y 29.3% | 79.2 | -13.7 | 1383.7 y/y 28.2% | 709.4 y/y 67.1% | 49.1% | -513.3 | Report (PDF) |
| 2025-12-31 | H2 2025 (6M) | OK | 2306.1 y/y 37.5% | 156.1 y/y 1124.3% | 6.3 y/y 73.2% | 162.4 y/y 891.7% | 127.4 y/y 759.8% | — | -26.8 | 1328.9 y/y 65.8% | 556.5 y/y 145.6% | 50.1% | -409.1 | Report (PDF) |
| 2025-06-30 | H1 2025 (6M) | PARTIAL | 1883.0 y/y 15.0% | 142.2 y/y 11.1% | 4.3 y/y 15.7% | 146.6 y/y 11.2% | 120.2 y/y — | 14.0 | -13.2 | 1078.9 y/y 17.6% | 424.4 y/y 72.4% | 73.9% | -275.7 | Report (PDF) |
| 2024-12-31 | H2 2024 (6M) | OK | 1708.6 y/y 11.1% | 16.5 y/y -61.7% | 3.7 y/y 39.9% | 20.2 y/y -55.9% | -22.2 y/y -183.7% | -21.9 | -13.9 | 801.6 y/y -4.7% | 226.6 y/y 90.0% | -51.6% | -162.9 | Report (PDF) |
| 2024-06-30 | H1 2024 (6M) | OK | 1637.6 y/y -11.3% | 128.0 y/y 34.1% | 3.7 y/y 13.7% | 131.8 y/y 33.4% | -102.7 y/y -219.7% | 131.9 | -6.1 | 917.6 y/y 9.5% | 246.2 y/y 200.0% | -112.4% | -153.1 | Report (PDF) |
| 2023-12-31 | H2 2023 (6M) | OK | 1518.0 y/y — | 45.8 y/y — | 2.6 y/y — | 48.5 y/y — | 30.2 y/y — | 60.9 | -13.3 | 840.8 y/y — | 119.3 y/y — | 111.6% | -103.0 | Report (PDF) |
| 2023-06-30 | H1 2023 (6M) | OK | 1845.9 y/y — | 95.5 y/y — | 3.3 y/y — | 98.8 y/y — | 85.8 y/y — | 98.6 | -5.3 | 838.3 y/y — | 82.1 y/y — | — | 69.9 | Report (PDF) |
| Short-term debt (incl. ST leases) | 2 |
| Long-term debt (incl. LT leases) | 1 |
| − Cash & equivalents | 517 |
| Net debt | -513 |
|---|
Net debt / LTM EBITDA: -1.5x
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 | 2023 | 2024 |
|---|---|---|
| cash flow / profit | 1.41x | — |
| accruals, % of assets | -5.1% | -25.9% |
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 0.3x · 3-year 75th pct 1.8x
Group: Utilities. Each peer is shown as it trades and re-priced onto this company's market (Russia) by the ratio of our coverage medians.
| Company | Market | Cap, $bn | EV/EBITDA | EV/EBITDA, adjusted |
|---|---|---|---|---|
| Inter RAO | Russia | 2.5 | 0.3x | 0.3x |
| FGC UES | Russia | 1.8 | 1.7x | 1.7x |
| Lenenergo | Russia | 1.9 | 1.9x | 1.9x |
| NEXTERA ENERGY INC | US | 171.0 | 18.0x | 3.3x |
| CPFL Energia | Brazil | 11.4 | 6.3x | 3.3x |
| Cemig | Brazil | 6.6 | 6.4x | 3.4x |
| Rushydro | Russia | 2.6 | 3.6x | 3.6x |
| DEWA (Dubai Electricity & Water) | UAE | 36.5 | 10.0x | 3.8x |
| Equatorial Energia | Brazil | 12.2 | 10.9x | 5.8x |
| En+ Group | Russia | 2.6 | 6.4x | 6.4x |
| Manila Electric (Meralco) | Philippines | 7.4 | 12.1x | 7.8x |
| Energisa | Brazil | 33.1 | 23.2x | 12.2x |
| Group median | 6.4x | 3.5x | ||
| Group average | 8.4x | 4.5x | ||
| This company | Russia | 0.6 | 0.2x | 0.2x |
Group median 6.4x as traded, 3.5x adjusted; this company 0.2x — a 93% discount.
Group average 8.4x as traded, 4.5x adjusted; against the average this company is at a 95% discount. The average sits 27% above the median: Energisa (12.2x) skews the group.
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 20.4x, Russia 3.7x, South Africa 5.0x, Kazakhstan 4.6x, India 18.6x, Indonesia 5.4x); it is about where a name is listed, not what it does. Peer multiples come from the nightly rebuild of 2026-10-24; the company's own is live.
No dividend rows found for this issuer.
| 23.10.26 | AGM / Board | Решения совета директоров (наблюдательного совета) Совет директоров ПАО ГК «ТНС энерго» единогласно принял решение о приостановлении реализации приоритетного направления деятельности по замене биллингового программного обеспечения до отдельного решения. Также утверждено Положение о предоставлении акционерам доступа к информации. Дата голосования - 21.10.2026. |
| 18.06.26 | AGM / Board | Решения общих собраний участников (акционеров) На годовом собрании акционеров ПАО ГК «ТНС энерго», состоявшемся 11 июня 2026 года, было решено не распределять прибыль за 2025 год и не выплачивать дивиденды. Также был избран новый Совет директоров и Ревизионная комиссия, а аудитором на 2026 год назначено АО «Кэпт». Кворум для голосования составил 69,9%. |
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 TNS energy (TNSE) — from primary filings.
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