The Discounted Cash Flow (DCF) valuation of RKK Energiya im. S.P. Koroleva PAO (RKKE.ME) is 15,334 RUB. With the latest stock price at 27,510 RUB, the upside of RKK Energiya im. S.P. Koroleva PAO based on DCF is -44.3%.

Is RKKE.ME a buy or a sell?

Based on the latest price of 27,510 RUB and our DCF valuation, RKK Energiya im. S.P. Koroleva PAO (RKKE.ME) is a sell. Selling RKKE.ME stocks now will result in a potential gain of 44.3%.

	Range	Selected
WACC / Discount Rate	15.2% - 21.3%	18.2%
Long-term Growth Rate	3.0% - 5.0%	4.0%
Fair Price	9,246.58 - 26,147.02	15,334.02
Upside	-66.4% - -5.0%	-44.3%

27,510 RUB

Stock Price

15,334 RUB

Fair Price

REVENUE & EXPENSES

CAPEX

D&A

WORKING CAPITAL

TERMINAL VALUE

RKKE.ME DCF Valuation: Revenue & Expenses Forecast

(RUB in millions)		Projections

	12-2024	12-2025	12-2026	12-2027	12-2028	12-2029

Revenue	50,208	53,001	55,921	59,477	63,645	67,916
% Growth	0%	6%	6%	6%	7%	7%

Cost of goods sold	(44,758)	(44,885)	(44,990)	(45,458)	(46,211)	(46,847)
% of Revenue	89%	85%	80%	76%	73%	69%

Selling, G&A expenses	(4,243)	(4,479)	(4,725)	(5,026)	(5,378)	(5,739)
% of Revenue	8%	8%	8%	8%	8%	8%

Research & Development	0	0	0	0	0	0
% of Revenue	0%	0%	0%	0%	0%	0%

Net interest & other expenses	(1,643)	(1,734)	(1,830)	(1,946)	(2,083)	(2,223)
% of Revenue	3%	3%	3%	3%	3%	3%

Tax expense	946	(198)	(455)	(732)	(1,036)	(1,362)
Tax rate	-217%	10%	10%	10%	10%	10%

Net profit	511	1,705	3,921	6,314	8,936	11,746
% Margin	1%	3%	7%	11%	14%	17%