Company Valuation: Gazprom

Data adjusted to current consolidation scope
Fiscal Period: December 2019 2020 2021 2022 2023 2024
Market Cap 1 1,982,268 1,495,370 2,570,366 1,841,435 1,841,435 1,841,435
Change - -24.56% 71.89% -28.36% 0% 0%
Enterprise Value (EV) 1 2,562,981 2,136,910 2,823,276 2,027,703 2,146,742 2,778,318
Change - -16.62% 32.12% -28.18% 5.87% 29.42%
P/E 4.95x 12.7x 5.11x 2.45x 2.87x 3.84x
PBR 0.96x 0.72x 1.09x 0.67x 0.62x 0.6x
PEG - -0.2x 0x 0x -0.2x -0.2x
Capitalization / Revenue 0.82x 0.84x 0.84x 0.54x 0.52x 0.45x
EV / Revenue 1.06x 1.19x 0.92x 0.59x 0.61x 0.68x
EV / EBITDA 4.17x 6.09x 3.66x 1.72x 1.98x 2.42x
EV / EBIT 5.79x 15.3x 5.09x 2.33x 2.98x 4.09x
EV / FCF -18.3x 15.6x 6.58x 2.24x 2.41x 54x
FCF Yield -5.47% 6.43% 15.2% 44.6% 41.5% 1.85%
Dividend per Share 2 37.96 15 56 - 102.4 79.17
Rate of return 9.03% 4.73% 10.3% - 26.2% 20.3%
EPS 2 84.82 24.95 106.7 159.3 135.9 101.6
Distribution rate 44.8% 60.1% 52.5% - 75.4% 77.9%
Net sales 1 2,415,183 1,789,271 3,068,442 3,412,129 3,519,959 4,099,708
EBITDA 1 614,304 350,804 770,771 1,180,745 1,085,624 1,149,571
EBIT 1 442,485 139,237 554,818 870,352 721,049 678,837
Net income 1 400,201 117,699 503,445 751,473 641,110 479,450
Net Debt 1 580,713 641,540 252,910 186,268 305,307 936,883
Reference price 2 420.15 316.95 544.80 390.30 390.30 390.30
Nbr of stocks (in thousands) 4,718,000 4,718,000 4,718,000 4,718,000 4,718,000 4,718,000
Announcement Date 25/02/20 18/02/21 17/02/22 14/03/24 14/03/24 14/02/25
1RUB in Million2RUB
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 22.36B
13.19x3.28x6.29x5.33% 1,682B
11.11x1.55x5.24x4.21% 335B
7.49x0.79x3.63x4.02% 216B
6.75x0.94x3.72x5.38% 170B
3.15x1.42x2.74x13.56% 99.99B
6.59x0.71x1.68x4.94% 79.63B
8.09x0.74x3.58x5.37% 68.68B
Average 8.05x 1.35x 3.84x 6.12% 334.07B
Weighted average by Cap. 11.34x 2.50x 5.43x 5.39%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA