Frontierby eninvs

Language: EN · RU

← Region

UzNIF — National Investment Fund (JSC) USD

Update

Re-runs extraction for each period with period-end year from max(2023, current year − 2) through the current year, oldest first (up to three reporting years). This can take a long time.

UzNIF is Uzbekistan's National Investment Fund — a closed-end fund (managed by Franklin Templeton) holding minority stakes of 25–40% in 13 state-owned enterprises across transport, energy, telecom, utilities and banking. Dual-listed in London (GDR: UZNF) and Tashkent; IPO May 2026.

Sector: Fund

UZ_UZNIF

Price chart

30.2 USDDay

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
30.2 USD
Market cap
2.3 bn USD

Growth

Δ revenue y/y
Δ EBITDA y/y

Multiples

P/E (LTM)
P/B (FY)
1.0x
EV/EBITDA (LTM)

Cash return

Dividend yield
FCF yield (LTM)

Liquidity

Daily turnover

Shares: connector/market_inputs

🔍 Sanity check — subtotal consistency (Level-1 + Level-2) OK: 1 / Warn: 0 / Err: 0 / Autofix applied: 0
Port of PHP subtotal-total + sign-flip detection logic
PeriodIssues
2025-12-31 FYOK
All checks pass · Has warnings (review) · Has errors (needs fix) · ✓* Autofix applied (see evidence)

Financial dynamics

Monetary columns are in 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.

DatePeriodStatusRevenueUSDOperating profitUSDD&AUSDEBITDAUSDNet profitUSDOperating CFUSDCapex + M&AUSDAssetsUSDEquityUSDROE (annualized)Net debtUSDSource
2025-12-31FY 2025 (12M)PARTIAL
y/y
y/y
y/y
y/y
y/y
2453000000.0
y/y
2440000000.0
y/y
Link
Data quality — review suggested

NAV look-through (sum-of-the-parts)

Upside to NAV: +3.9%

Closed-end fund: 13 minority stakes (25–40%) in Uzbek state enterprises, managed by Franklin Templeton. Valued sum-of-the-parts: portfolio net assets = NAV. Upside = reversion of the GDR market price to NAV. Sector NAV split is the fund disclosure as of 2025-12-31.

1 · Net assets by sector (share of NAV)
Transportation · 32.4%
Uzbekistan Airways (25%), Temir Yoʻl Infratuzilma (Railway Infrastructure Co.)
$791 mln
Energy production · 19.1%
Uzbekhydroenergo, Thermal Power Plants JSC
$466 mln
Telecommunications · 15.2%
Uzbektelecom
$371 mln
Utilities · 14.9%
Regional Electric Networks (Hududiy elektr tarmoqlari)
$364 mln
Banking & financials · 13.4%
Uzpromstroybank — SQB (30%), Uzbekinvest (insurance)
$327 mln
Industrials / other · 5.0%
Navoiyazot
$122 mln
= Net asset value (NAV)$2.44 bn
2 · Price vs NAV → upside
Market cap (GDR UZNF × count)$2.35 bn
Current discount to NAV-3.7%
P / NAV0.96×

Upside = NAV ÷ market cap − 1 = +3.9%

Multiples: P/E and EV/EBITDA do not apply to a fund — it has no operating earnings or EBITDA; its economics are NAV growth + distributions. The relevant valuation is P/NAV (= P/B = 0.96×). Dividend policy: ≥50% of net profit from investment assets paid out through 2030; first post-IPO (May 2026) distribution not yet declared.

Dividends

No dividend rows found for this issuer.

Investor reporting (IR): https://www.uznif.com/

Reporting forms detected in loaded periods: (Balance sheet / Profit or loss (P&L) / Cash flows)