IVA Technologies
IVAT · Constituent of Russia IT Index
Financial summary
Millions of roubles · LTM = last full year + latest half − same half a year earlier| mn RUB | 2022 | 2023 | 2024 | 2025 | LTM |
|---|---|---|---|---|---|
| Enterprise value | |||||
| Market capitalisation | — | — | 19,890 | 16,735 | 6,990 |
| Growth %, YoY | — | — | — | -15.9 | -58.2 |
| + Net debt borrowings and leases, less cash | -344 | -43 | 470 | 683 | 1,030 |
| Growth %, YoY | — | — | — | +45.5 | +50.7 |
| = Enterprise value | — | — | 20,363 | 17,432 | 8,019 |
| Growth %, YoY | — | — | — | -14.4 | -54.0 |
| Income statement | |||||
| Revenue | 1,383 | 2,454 | 3,327 | 3,203 | 3,112 |
| Growth %, YoY | — | +77.5 | +35.6 | -3.7 | -2.9 |
| Gross profit | 1,167 | 2,128 | 2,790 | 2,582 | 2,305 |
| Growth %, YoY | — | +82.3 | +31.2 | -7.5 | -10.7 |
| EBITDA operating profit + D&A | 1,152 | 1,923 | 2,218 | 2,006 | 1,888 |
| Growth %, YoY | — | +67.0 | +15.3 | -9.5 | -5.9 |
| EBITDA margin, % | 83.3 | 78.4 | 66.7 | 62.6 | 60.7 |
| Change, p.p. | — | -4.9 | -11.7 | -4.0 | -2.0 |
| Net income attributable to shareholders | 1,001 | 1,761 | 1,897 | 1,413 | 1,192 |
| Growth %, YoY | — | +75.9 | +7.7 | -25.5 | -15.6 |
| Cash flow | |||||
| Free cash flow operating cash flow − capex, as the issuer classifies interest | 456 | 54 | 206 | -101 | -412 |
| Growth %, YoY | — | -88.2 | +281.7 | -148.9 | — |
| — of which fintech funding, removed customer deposits taken, net of lending | — | — | — | — | — |
| Dividends paid | 12 | 479 | 508 | 111 | 0 |
| Growth %, YoY | — | +3,818.0 | +6.0 | -78.1 | -100.0 |
| Multiples | |||||
| EV/EBITDA | — | — | 9.2 | 8.7 | 4.2 |
| P/E (basic) | — | — | 10.5 | 11.8 | 5.9 |
| P/E (diluted) | — | — | 10.5 | 11.8 | 5.9 |
| Net debt/EBITDA | -0.3 | -0.0 | 0.2 | 0.3 | 0.5 |
| P/B equity attributable to owners | — | — | 3.9 | 2.6 | 1.1 |
| Yields and returns | |||||
| Dividend yield (paid), % cash paid in the period, not declared | — | — | 2.6 | 0.7 | 0.0 |
| Change, p.p. | — | — | — | -1.9 | -0.7 |
| Payout ratio, % cash paid, over the profit of the period it was paid in | 1.2 | 27.2 | 26.8 | 7.9 | 0.0 |
| Change, p.p. | — | +26.0 | -0.4 | -18.9 | -7.9 |
| Free cash flow yield, % | — | — | 1.0 | -0.6 | -5.9 |
| Change, p.p. | — | — | — | -1.6 | -5.3 |
| Return on equity, % average equity attributable to owners | 45.4 | 55.2 | 42.7 | 24.3 | 19.8 |
| Change, p.p. | — | +9.8 | -12.5 | -18.4 | -4.6 |
| Return on assets, % average assets, profit incl. NCI | 37.8 | 42.5 | 31.8 | 18.3 | 14.4 |
| Change, p.p. | — | +4.7 | -10.8 | -13.5 | -3.9 |
| Solvency and efficiency | |||||
| Finance cost coverage operating profit ÷ finance costs | 42.8 | 416.8 | 40.9 | 14.8 | 10.8 |
| Effective tax rate, % | — | — | — | — | — |
| Change, p.p. | — | — | — | — | — |
| Memo | |||||
| Adjusted EBITDA (reported) company definition, non-IFRS | — | — | — | — | — |
| Adjusted net income (reported) non-IFRS | — | — | — | — | — |
| Turnover (reported) before agency netting | — | — | — | — | — |
| Net income incl. NCI | 1,006 | 1,764 | 1,898 | 1,423 | — |
| Total assets | 3,340 | 4,952 | 6,995 | 8,585 | 9,147 |
| Profit before tax | 1,005 | 1,764 | 1,914 | 1,528 | 1,294 |
| Finance costs | 24 | 4 | 48 | 110 | 132 |
| Total equity | 2,603 | 3,792 | 5,101 | 6,524 | 6,654 |
| — attributable to owners | 2,599 | 3,786 | 5,097 | 6,510 | 6,655 |
| — non-controlling interests added to enterprise value | 4 | 7 | 3 | 14 | -1 |
| Cash and equivalents | 356 | 266 | 237 | 11 | 51 |
| Total debt | 7 | 211 | 512 | 508 | 936 |
| Lease liabilities included in net debt | 5 | 11 | 195 | 186 | 145 |
| Short-term investments netted against net debt | — | — | — | — | — |
| Shares, weighted average basic, mn | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 |
| Shares outstanding, period end, mn | 100.0 | 100.0 | 100.0 | 100.0 | 100.0 |
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.
IVA scans the signed balance sheet, income statement and cash-flow statement back into its filings, so those pages hold no machine-readable text and every figure here was read by OCR. Each one was checked three ways before use: the statement cross-foots against its own subtotals, each year appears twice — once in its own report, once as the comparative in the next — and cash and borrowings reproduce the net-debt ratios the company publishes. EBITDA above is operating profit plus depreciation and amortisation; the company's own EBITDA is an adjusted measure and runs higher, at a 70% margin for 2024 and 68% for 2025 against 66.7% and 62.6% here. Net debt excludes lease liabilities, which are shown separately in the memo block; adding them back reproduces the 0.2x and 0.31x the company reports. IVA listed in June 2024, so 2022 and 2023 carry no market capitalisation and no valuation multiples, and 2022 is the predecessor entity, ООО «ИВКС», whose 2023 figures match the comparatives ПАО «ИВА» reports for that year. No dividend was paid in the first half of 2026, which is why the trailing-twelve-month dividend cells are blank.
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__msfo-otchetnost-za-2023-god__a3e55a10.md | 56 |
| 2025-FY__msfo-otchetnost-pao-iva-12m-2025__3000b521.md | 17 |
| 2025-H1__otchetnost-iva-6m2025__b03af3b5.md | 26 |
| 2026-H1__otchetnost-pao-iva-6m2026__48251a42.md | 18 |
| undated__otchetnost-pao-iva-12m24__6d85d300.md | 18 |
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.
- 2024 IVAT 199 ₽ · 2024-12-30
- 2025 IVAT 167 ₽ · 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.