1. Russian Federation Stocks

  2. •

    Utilities

  3. •

    Electric utilities
Inter RAO

Inter RAO

MMOEX:IRAO
2.81
RUB
+0.11
(+4.09%)
3.56P/E
Nov 26Next Earn
Inter RAO
MOEX:IRAO
(Russian Exchange)

Recent

price

2.81

P/E

ratio

3.56

div

yld

- -

ROIC.AI

2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2022
2023
TTM
RUB
2.1
5.26
3.06
13.39
7.31
6.4
7.62
8.35
9.86
10.38
10.41
12.17
14.02
13.41
16.87
18.49
15.3
Revenue per Share
-0.1
0.25
-0.56
0.42
0.49
-0.26
-0.27
0.09
0.27
0.73
0.65
0.89
1.11
1.02
1.57
1.81
1.3
Basic EPS, GAAP
-0.03
0.57
-0.21
0.2
0.27
-0.49
-0.25
0.27
0.46
0.56
0.69
0.88
1.15
1
0.98
0.76
1.29
Free Cash Flow per Basic Share
0.02
- -
0.01
0.08
0.02
0.03
0.01
- -
0.01
0.02
0.15
0.15
0.19
0.21
0.24
0.26
0.08
Dividend per Share
1.16
2.64
3.54
4.09
4.03
3.89
3.7
4.08
4.31
5.02
5.51
6.56
7.49
8.35
10.82
12.4
9.2
Book Value per Share
1.15
2.56
3.39
3.97
3.98
3.79
3.59
3.91
4.15
4.9
5.35
6.37
7.36
8.11
9.98
11.46
8.32
Tangible Book Value per Share
21,760
13,073
21,760
34,669
73,367
86,892
86,892
88,752
84,396
83,672
83,478
79,125
73,630
73,541
73,539
73,538
73,519
Basic Weighted Avg Shares
45,691
68,759
66,636
464,386
536,244
556,189
662,321
741,101
831,987
868,182
869,204
962,582
1,032,120
986,292
1,240,930
1,359,799
1,124,514
Sales/Revenue/Turnover
-0.87
11.8
5.43
6.28
3.79
0.16
0.92
3.53
4.81
6.28
7.88
9.77
9.89
8.17
7.48
10.28
10.99
Operating Margin (%)
2,971
3,746
3,419
7,448
13,016
16,596
23,733
21,224
23,609
22,904
22,132
26,601
28,002
28,969
26,236
30,409
29,999
Depreciation Expense
-2,174
3,206
-12,123
14,561
36,144
-22,737
-23,067
7,837
22,601
60,761
53,974
70,776
81,631
74,989
115,299
133,112
95,611
Net Income, GAAP
- -
44.08
- -
27.42
20
- -
- -
42.5
10.98
10.56
16.23
22.24
21.05
21.55
19.85
19.2
19.95
Effective Tax Rate (%)
-4.76
4.66
-18.19
3.14
6.74
-4.09
-3.48
1.06
2.72
7
6.21
7.35
7.91
7.6
9.29
9.79
8.5
Profit Margin (%)
-15,626
9,894
7,776
29,336
138,366
64,640
53,920
73,761
86,430
98,202
153,024
181,690
254,550
310,713
440,552
521,799
316,832
Working Capital
1,173
9,922
33,378
32,598
44,514
44,377
40,198
64,185
42,617
19,103
15,563
44,376
49,408
79,102
76,982
72,774
82,727
LT Debt
33,443
58,072
95,413
139,139
390,221
353,189
334,589
349,447
366,245
421,106
461,503
485,478
552,779
616,097
804,684
929,397
678,839
Total Equity
- -
7.2
- -
12.98
5.2
- -
- -
3.71
8.24
11.13
12.17
14.21
14.05
9.67
9.25
11.66
13.59
Return on Invested Capital (%)
- -
5.7
- -
8.07
10.85
- -
- -
2.11
6.83
14.91
12.08
14.46
15.15
12.23
15.26
14.37
13.97
Return on Capital (%)
- -
7.76
-18.03
15.04
15.59
-6.54
-6.78
2.32
6.39
15.53
12.28
15.01
15.79
12.88
16.36
15.59
15.01
Return on Common Equity (%)

Capital Structure

RUB

•

in mil. unless spec.
Mar'22
Jun'22
Sep'22
ST Debt
15,711
25,146
28,904
LT Borrowings
483
3,291
895
LT Finance Leases
80,267
81,161
81,832
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
73,541
73,541
73,541
Market Capitalization
377,263
345,641
340,493

Working Capital

RUB

•

in mil. unless spec.
Mar'22
Jun'22
Sep'22
Total Current Assets
470,273
443,459
472,881
Cash, Cash Equivalents & STI
337,763
289,061
317,050
Accounts Receivable, Net
85,516
73,556
78,896
Inventories
21,551
32,609
32,660
Total Current Liabilities
124,473
142,037
156,049
Payables & Accruals
- -
- -
- -
ST Debt
15,711
25,146
28,904
Deferred Revenue
- -
- -
- -

Growth Rates

RUB

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
10.52%
15.32%
15.5%
Free Cash Flow
-15.32%
1.1%
-22.42%
Net Income, GAAP
32.11%
21.51%
15.45%
Sales/Revenue/Turnover
9.66%
9.78%
9.58%
Total Cash Common Dividend
84.75%
9.68%
10.22%

Quarterly Revenue

RUB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2022
310,476
268,725
285,082
- -
1,240,930
2023
- -
301,209
- -
- -
1,359,799

Quarterly Earnings Per Share

RUB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2022
0.47
0.26
0.34
- -
1.57
2023
- -
0.36
- -
- -
1.81

Quarterly Dividends Per Share

RUB

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2022
- -
- -
0.08
- -
0.24
2023
- -
- -
- -
- -
0.26
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Business
Public Joint Stock Company Inter RAO UES (PJSC Inter RAO UES) is a diversified energy holding company engaged in electricity and heat generation, supply, trading, engineering, and electric power infrastructure development. The company operates a portfolio of thermal, hydro, and combined cycle power plants with approximately 28 GW of installed capacity in Russia, including assets such as INTER RAO - Electric Power Plants, OGK-1, OGK-3, TGK-11, and Ivanovo CCPP; internationally, it controls facilities like Hrazdan TPP in Armenia, Mtkvari TPP and Khrami HPPs in Georgia, Ekibastuz GRES-2 in Kazakhstan, Cuciurgan power station in Moldova, and Sangtuda 1 HPP in Tajikistan. Its core services encompass electricity sales through subsidiaries like Moscow Power Supply Company, St. Petersburg Power Supply Company, and others across Russian regions; international energy trading via entities such as Eastern Energy Company for exports to China, RAO Nordic Oy in Finland, TGR Enerji in Turkey, and Inter RAO Lietuva in Lithuania; engineering and construction including design, equipment supply, installation, and maintenance of power facilities; as well as heat supply, grid operations in Armenia and Georgia, and energy equipment manufacturing. PJSC Inter RAO UES maintains a monopoly on electricity export and import in Russia and serves wholesale and retail markets, industrial customers, and households primarily in Russia, Europe, CIS countries, China, and select Asian markets. The company was founded in 1997 as a subsidiary of RAO UES and is headquartered at 27 Bolshaya Pirogovskaya Street, Moscow, Russia. Its power supply and distribution assets include seven regional companies in Russia such as Altai Power Supply Company and Saratovenergo, plus Power Grids of Armenia and Telasi in Georgia. In recent developments, PJSC Inter RAO UES has pursued aggressive expansion in the power engineering sector, completing the acquisition of Ural Turbine Works (UTZ) in spring 2024, purchasing 11 engineering companies and IT firm Sigma, acquiring Siemens Energy's 65% stake in STGT and Voronezh Transformer, and buying Elsib from SUEK. The company is integrating these assets, with consolidation expected to conclude by end-2025, and has signaled potential further acquisitions in engineering and adjacent sectors to drive growth. Operationally, it commenced construction of two new power units in Zabaykalsky Krai in October 2025, expanded its Ural Turbine Works product line in September 2025, completed boiler equipment installation at Kashira GRES in September 2025, and conducted its first digital ruble payment for services with VTB in October 2025; the group also released consolidated financial results for the first nine months of 2025 in November 2025.