Yandex is rapidly turning from a company that earns money into a company that takes it away.

Now the company has not earned a penny in its entire history.

Fig.1.

Yandex does not pay dividends and does not have FCF, so we cannot evaluate it using a direct method.

All the money that the company received, excluding any expenses, is shown in the graph below.

Fig.2.

Even if we assume that this is the company's money, the share price cannot be higher than the numbers in the following figure.

Fig.3.

Thus, the company does not represent any investment interest.

According to my estimates, it costs about 350-600 rubles per share.

Fig.4.