HeadHunter
HEAD · Constituent of Russia IT Index
Financial summary
Millions of roubles · LTM = last full year + latest half − same half a year earlier| mn RUB | 2023 | 2024 | 2025 | LTM |
|---|---|---|---|---|
| Enterprise value | ||||
| Market capitalisation | 148,255 | 163,693 | 129,567 | 119,789 |
| Growth %, YoY | — | +10.4 | -20.9 | -7.6 |
| + Net debt borrowings and leases, less cash | -19,105 | -1,436 | -11,366 | -4,555 |
| Growth %, YoY | — | — | — | — |
| = Enterprise value | 129,349 | 169,048 | 127,561 | 125,735 |
| Growth %, YoY | — | +30.7 | -24.5 | -1.4 |
| Income statement | ||||
| Revenue | 29,449 | 39,619 | 41,203 | 41,057 |
| Growth %, YoY | — | +34.5 | +4.0 | -0.4 |
| Gross profit | — | — | — | — |
| Growth %, YoY | — | — | — | — |
| EBITDA operating profit + D&A | 16,987 | 21,560 | 20,603 | 20,568 |
| Growth %, YoY | — | +26.9 | -4.4 | -0.2 |
| EBITDA margin, % | 57.7 | 54.4 | 50.0 | 50.1 |
| Change, p.p. | — | -3.3 | -4.4 | +0.1 |
| Net income attributable to shareholders | 12,221 | 18,396 | 15,246 | 15,725 |
| Growth %, YoY | — | +50.5 | -17.1 | +3.1 |
| Cash flow | ||||
| Free cash flow operating cash flow − capex, as the issuer classifies interest | 15,900 | 23,086 | 20,492 | 17,122 |
| Growth %, YoY | — | +45.2 | -11.2 | -16.5 |
| — of which fintech funding, removed customer deposits taken, net of lending | — | — | — | — |
| Dividends paid | 0 | 40,018 | 10,360 | 20,739 |
| Growth %, YoY | — | — | -74.1 | +100.2 |
| Multiples | ||||
| EV/EBITDA | 7.6 | 7.8 | 6.2 | 6.1 |
| P/E (basic) | 12.1 | 7.8 | 8.5 | 7.8 |
| P/E (diluted) | 12.4 | 7.9 | 8.6 | 7.9 |
| Net debt/EBITDA | -1.1 | -0.1 | -0.6 | -0.2 |
| P/B equity attributable to owners | 7.6 | n.m. | 34.2 | n.m. |
| Yields and returns | ||||
| Dividend yield (paid), % cash paid in the period, not declared | 0.0 | 24.4 | 8.0 | 17.3 |
| Change, p.p. | — | +24.5 | -16.5 | +9.3 |
| Payout ratio, % cash paid, over the profit of the period it was paid in | 0.0 | 217.5 | 68.0 | 131.9 |
| Change, p.p. | — | +217.5 | -149.6 | +63.9 |
| Free cash flow yield, % | 10.7 | 14.1 | 15.8 | 14.3 |
| Change, p.p. | — | +3.4 | +1.7 | -1.5 |
| Return on equity, % average equity attributable to owners | 93.3 | n.m. | n.m. | n.m. |
| Change, p.p. | — | — | — | — |
| Return on assets, % average assets, profit incl. NCI | 40.3 | 60.1 | 51.4 | 49.2 |
| Change, p.p. | — | +19.8 | -8.7 | -2.1 |
| Solvency and efficiency | ||||
| Finance cost coverage operating profit ÷ finance costs | 24.4 | 38.2 | 34.2 | 35.3 |
| Effective tax rate, % | 28.0 | 2.4 | 10.0 | 8.2 |
| Change, p.p. | — | -25.6 | +7.6 | -1.9 |
| Memo | ||||
| Adjusted EBITDA (reported) company definition, non-IFRS | 17,378 | 23,229 | 22,762 | 22,306 |
| Adjusted net income (reported) non-IFRS | 12,480 | 24,438 | 20,804 | 20,510 |
| Turnover (reported) before agency netting | — | — | — | — |
| Net income incl. NCI | — | — | — | — |
| Total assets | 36,759 | 24,494 | 34,883 | 29,018 |
| Profit before tax | 17,243 | 24,480 | 19,997 | 20,105 |
| Finance costs | 649 | 531 | 555 | 534 |
| Total equity | 19,621 | 4,667 | 13,148 | 9,868 |
| — attributable to owners | 19,421 | -2,124 | 3,787 | -633 |
| — non-controlling interests added to enterprise value | 200 | 6,791 | 9,360 | 10,501 |
| Cash and equivalents | 22,596 | 5,436 | 14,501 | 7,788 |
| Total debt | 3,144 | 1,513 | 5 | 0 |
| Lease liabilities included in net debt | 347 | 2,487 | 3,131 | 3,233 |
| Short-term investments netted against net debt | — | — | — | — |
| Shares, weighted average basic, mn | 50.3 | 38.9 | 44.3 | 44.5 |
| Shares outstanding, period end, mn | 50.3 | 44.1 | 44.5 | 43.4 |
What these figures commit to.
EBITDA here is operating profit plus depreciation and amortisation, computed the same way in every column. The company's own adjusted EBITDA appears in the memo block rather than in the multiples: it is a non-IFRS measure whose add-backs the issuer defines, and mixing it into a series that also contains derived years would make the row incomparable with itself.
Net debt is total borrowings less cash and equivalents. Lease liabilities are excluded and shown separately, so this figure will not agree with the issuer's own adjusted net debt, which includes them.
The last column is trailing twelve months, not a forecast: the full year plus the latest half less the same half a year earlier, with balance-sheet items taken at the interim date. There is no consensus data behind this page, so there are no forecast years.
HeadHunter's disclosure centre files material facts, not financial statements, so everything here comes from the quarterly earnings releases on its own investor site. Those releases lay their statements out as separate runs of captions and figures, which ordinary text extraction cannot pair up, so each statement page is rebuilt from its geometry and every cash-flow column is cross-footed to the subtotals the issuer prints. Net income is the share attributable to owners of the Company: non-controlling interests took 15% of group profit in 2025, and market capitalisation is a claim on the parent's share alone. Equity, by contrast, is the group total including those interests, as it is for every other issuer here — so return on equity and price to book are not on a like-for-like basis with net income, and the 2024 figures are dominated by the 40.0 bn dividend paid that year, which left year-end equity at a fraction of the profit earned against it. No line in these statements is captioned as a number of shares, but the balance sheet prints charter capital and treasury shares, and the ordinary share carries a par value of one rouble — so in a statement kept in thousands those two lines are the count. 47 185 less 3 063 gives 44 121 918 shares outstanding at the end of 2024, and less 2 691 gives 44 493 918 at the end of 2025, against 47 184 918 registered. The reading is confirmed from outside the accounts: a material-fact filing of 9 December 2024 puts a holder at 2 404 630 votes and 5.45% of the voting shares, which makes the voting total 44 121 651 — 267 shares from the balance-sheet figure, since shares held against the company carry no vote. The trailing column uses the 43 370 413 the company publishes for 3 August 2026, after the buyback that began on 18 May 2026. 2023 is the one column struck on a weighted average, and that is right rather than a fallback: it prices HHRU, a depositary receipt over one HeadHunter Group PLC share, and the PLC issued no shares that year, so the average and the year-end count are the same number. HeadHunter publishes no weighted-average share count of either kind, only the two earnings-per-share figures, so both counts are recovered by dividing profit by each of them. Its diluted P/E runs about 2% above its basic one.
Every figure traces to a filing.
Line items are read directly out of documents the issuer published, collected automatically from its investor-relations pages. Audited IFRS statements take precedence; quarterly press releases fill the gaps where a statement page did not survive conversion.
| Document | Values |
|---|---|
| 2023__20240306-fin-result-2023-pdf__390ea045.md | 64 |
| 2025-FY__hedhanter-obyavlyaet-finansovye-rezultaty-za-iv-kvartal-2025__ddb2f63d.md | 66 |
| 2026-Q2__head-reliz-2-kv-2026-pdf__5e53e16e.md | 57 |
| 2026__aktsionernyi-kapital__sharecap.md | 1 |
Market data
Price and share count from MOEX. Market capitalisation uses the year-end close and the share count reported for that year; the trailing-twelve-month column uses the latest quote and the registered issue size.
- 2023 HHRU 2,950 ₽ · 2023-12-29
- 2024 HEAD 3,710 ₽ · 2024-12-30
- 2025 HEAD 2,912 ₽ · 2025-12-30
Generated 2026-09-07
Figures on this page are extracted automatically from public filings and are not audited, verified, or endorsed by the issuer. They are published for research and educational purposes only. Nothing here constitutes investment advice, a solicitation, or a recommendation to buy or sell any security.