About the company SFI
Security pageSFI is an investment holding company that owns stakes in financial and consumer companies: leasing, insurance and consumer electronics retail. It has no operating business of its own. Its shares trade on the Moscow Exchange under the ticker SFIN.
What the company does
The holding company makes money in two ways: it receives dividends from its subsidiaries and it sells stakes for more than it paid for them. It has no revenue of its own in the usual sense — its financial statements reflect the results of the companies it owns.
The key figure for a structure of this kind is the sum of the values of its stakes. The market price of the holding company is usually below that sum; the gap is called the holding company discount. It exists because an investor cannot buy an individual asset directly, and because the management company costs money.
The way to narrow the discount is to list a subsidiary on the stock exchange: its value then becomes observable rather than a matter of estimation. That is exactly what the holding company has done with some of its assets.
Business lines
Leasing
The stake in the leasing company is the holding company's largest asset.
Insurance
A stake in an insurance company.
Retail
A shareholding in a chain of home appliance and electronics stores.
History
- 2000-еThe holding company is formed, bringing together stakes in financial companies.
- 2024The listing of a large subsidiary on the stock exchange reveals its value.
Business review
Strengths and weaknesses describe the business itself. Opportunities and threats describe what may happen around it.
Strengths
- Stakes in profitable financial companies, some of which trade separately and are therefore valued by the market.
- A practice of passing the dividends it receives on to the holding company's shareholders.
Weaknesses
- The holding company discount: the market traditionally values a structure of this kind at less than the sum of its parts.
- Profit depends on the subsidiaries' decisions on payouts, not on operating activities of its own.
- The mix of assets can change, and with it the rationale for the investment.
Opportunities
- Listing subsidiaries on the stock exchange makes their value observable and narrows the holding company discount.
- Selling a stake brings in cash that holding on to it does not.
- Dividends from subsidiaries flow up to the holding company and can be distributed to shareholders.
- Diversification across industries cushions a slump in any one of them.
Threats
- The holding company discount can persist for years regardless of how the assets perform.
- There is no operating business of its own: income depends on the subsidiaries' decisions on payouts.
- The value of the assets fluctuates along with their markets — leasing, insurance and retail.
- Decisions on whether to sell or keep stakes are made by the controlling shareholder.
Frequently asked questions
What does the company SFI do?
It is an investment holding company: it owns stakes in a leasing company, an insurance company and a retail company, and it earns money from their dividends and from the growth in the value of those stakes. It has no production or services of its own.
What is the holding company discount?
The difference between the combined value of the stakes the holding company owns and its own price on the stock exchange, which is usually lower. The reason is that an investor cannot buy an individual asset directly, and that the management structure costs money.
Why does the holding company list its subsidiaries on the stock exchange?
So that their value becomes observable. While an asset sits inside the holding company, its price is a matter of estimation; after the listing it is visible in trading, and the holding company discount narrows.
Issuer profile
What the company does
The company is classified under the «Financials» sector, using the taxonomy we apply when comparing securities with one another.
The same sector holds 11 issuers on the platform, and their figures are computed by one method — so this company's revenue, profit and leverage can be compared with them directly.
The company is registered in Russia and identified in regulatory disclosure by tax number 6164077483. That number locates its statements in state registries regardless of how its name is spelled — and the spelling differs even between official documents.
Listed securities
The issuer has 1 security listed: 1 share class. All are shown on this page, including those trading in different modes and different currencies.
Across Moscow Exchange quotation list levels the securities split as follows: 1 at level 1. The level reflects how strict the disclosure, turnover and track-record requirements the issue meets are — not how attractive the investment is.
Dividend history
Between 2019 and 2025 the issuer made 6 payouts whose record date has already passed. A board recommendation or a forecast does not enter this history, because no money has been paid on them yet.
The most recent payout was 83.50 ₽ per SFIN security (2025) with a record date of 9 June 2025. That is the amount before tax: the broker withholds it on crediting, so less arrives in the account.
Financial statements
The most recent annual report we hold is for 2025 under RAS. The standard is named for a reason: IFRS and RAS compute the same quantities by different rules, disagree by design and are never averaged.
Revenue for 2025 was 65.26B ₽.
That is 102.7 % more than in 2024, when revenue was 32.19B ₽. The comparison stays within one reporting standard — otherwise the growth could turn out to be a change of accounting rules and nothing more.
Net income for 2025 was 60.75B ₽.
Of every unit of revenue, 93.1 % remained as net income. This is the ratio of two figures already named above rather than a separate line from the report: comparing it across companies is meaningful only within one sector and one reporting standard.
Equity stands at 43.88B ₽ against total assets of 44.19B ₽. The difference between the two is the company's liabilities, and the larger it is relative to equity, the more the business depends on borrowed money.
This section is assembled from our own data on the company's securities, dividends and financial statements. It is a description, not a recommendation.
Securities of this issuer
Shares1
- SFINЭсЭфАй ПАО ао568.40 ₽