Russian Undervalued over 20% based on DCF

Gazprom

Market Cap: ₽4.7t

Public Joint Stock Company Gazprom, an integrated energy company, engages in the geological exploration, production, processing, storage, transportation, and sale of gas, gas condensates, and oil in Russia and internationally.

Mining and Metallurgical Company Norilsk Nickel

Market Cap: ₽2.6t

Public Joint Stock Company Mining and Metallurgical Company Norilsk Nickel, together with its subsidiaries, operates as a metals and mining company in Europe, Asia, North and South America, Russia, and the CIS countries.

PJSC LUKOIL

Market Cap: ₽2.5t

PJSC LUKOIL, together with its subsidiaries, engages in exploration, production, refining, marketing, and distribution of oil and gas.

PJSC Tatneft

Market Cap: ₽915.4b

Engages in exploration, development, and production of crude oil in Russia and internationally.

public stock company VSMPO-AVISMA

Market Cap: ₽658.3b

public stock company VSMPO-AVISMA Corporation produces and sells titanium in Russia and internationally.

Moscow Exchange MICEX-RTS

Market Cap: ₽192.3b

Public Joint-Stock Company Moscow Exchange MICEX-RTS, an integrated exchange, provides competitive trading, clearing, settlement, depository, and information services to financial market participants.

Nizhnekamskneftekhim

Market Cap: ₽142.9b

Public Joint Stock Company Nizhnekamskneftekhim produces and sells petrochemicals in Russia.

Group of Companies Segezha

Market Cap: ₽127.9b

Group of Companies Segezha Public Joint Stock Company operates in the forestry industry in Russia and internationally.

Kazan Organichesky sintez

Market Cap: ₽125.0b

Kazan Public Joint Stock Company Organichesky sintez, together with its subsidiaries, produces and sells chemical products in Russia.

Novorossiysk Commercial Sea Port

Market Cap: ₽102.7b

Public Joint Stock Company Novorossiysk Commercial Sea Port, together with its subsidiaries, provides stevedoring, port, and sea vessel services in Russia.

M.video

Market Cap: ₽36.0b

Public Joint Stock Company M.video, together with its subsidiaries, operates a chain of household appliances and consumer electronics stores, and online stores in the Russian Federation.

Renaissance Insurance Group JSC

Market Cap: ₽26.3b

Renaissance Insurance Group JSC provides insurance and pension services in the Russian Federation.

Ryazanenergosbyt

Market Cap: ₽3.2b

Joint-Stock Company Ryazanenergosbyt engages in the purchase and sale of electricity in the wholesale and retail markets in the Ryazan Region, Russia.