WBAG:ATAD

Stock Analysis Report

Executive Summary

PJSC Tatneft, together with its subsidiaries, engages in exploration, development, and production of crude oil primarily in Russia.

Rewards

Trading at 41.7% below its fair value

Earnings are forecast to grow 3.04% per year

Earnings grew by 1% over the past year

Risk Analysis

Dividend of 12.42% is not well covered by earnings



Snowflake Analysis

Excellent balance sheet, good value and pays a dividend.


Similar Companies

Share Price & News

How has PJSC Tatneft's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: ATAD has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

1.7%

ATAD

-0.4%

AT Oil and Gas

1.9%

AT Market


1 Year Return

8.7%

ATAD

-3.5%

AT Oil and Gas

5.1%

AT Market

Return vs Industry: ATAD exceeded the Austrian Oil and Gas industry which returned -3.5% over the past year.

Return vs Market: ATAD exceeded the Austrian Market which returned 5.1% over the past year.


Shareholder returns

ATADIndustryMarket
7 Day1.7%-0.4%1.9%
30 Day-6.2%-8.3%0.3%
90 Day2.0%-6.8%0.8%
1 Year22.1%8.7%2.1%-3.5%8.8%5.1%
3 Yearn/a32.0%13.1%27.7%16.2%
5 Yearn/a45.8%12.4%56.9%35.2%

Price Volatility Vs. Market

How volatile is PJSC Tatneft's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is PJSC Tatneft undervalued compared to its fair value and its price relative to the market?

41.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ATAD (€66.52) is trading below our estimate of fair value (€114.03)

Significantly Below Fair Value: ATAD is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: ATAD is good value based on its PE Ratio (8.2x) compared to the Oil and Gas industry average (10.9x).

PE vs Market: ATAD is good value based on its PE Ratio (8.2x) compared to the Austrian market (14.2x).


Price to Earnings Growth Ratio

PEG Ratio: ATAD is poor value based on its PEG Ratio (2.7x)


Price to Book Ratio

PB vs Industry: ATAD is overvalued based on its PB Ratio (2.2x) compared to the XE Oil and Gas industry average (0.8x).


Next Steps

Future Growth

How is PJSC Tatneft forecast to perform in the next 1 to 3 years based on estimates from 12 analysts?

3.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ATAD's forecast earnings growth (3% per year) is above the savings rate (-0.1%).

Earnings vs Market: ATAD's earnings (3% per year) are forecast to grow slower than the Austrian market (9.9% per year).

High Growth Earnings: ATAD's earnings are forecast to grow, but not significantly.

Revenue vs Market: ATAD's revenue (3.9% per year) is forecast to grow faster than the Austrian market (2.7% per year).

High Growth Revenue: ATAD's revenue (3.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ATAD's Return on Equity is forecast to be high in 3 years time (26%)


Next Steps

Past Performance

How has PJSC Tatneft performed over the past 5 years?

21.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ATAD has high quality earnings.

Growing Profit Margin: ATAD's current net profit margins (22.7%) are lower than last year (24%).


Past Earnings Growth Analysis

Earnings Trend: ATAD's earnings have grown significantly by 21.6% per year over the past 5 years.

Accelerating Growth: ATAD's earnings growth over the past year (1%) is below its 5-year average (21.6% per year).

Earnings vs Industry: ATAD earnings growth over the past year (1%) exceeded the Oil and Gas industry -5.3%.


Return on Equity

High ROE: ATAD's Return on Equity (26.7%) is considered high.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is PJSC Tatneft's financial position?


Financial Position Analysis

Short Term Liabilities: ATAD's short term assets (RUB298.8B) do not cover its short term liabilities (RUB389.5B).

Long Term Liabilities: ATAD's short term assets (RUB298.8B) exceed its long term liabilities (RUB102.4B).


Debt to Equity History and Analysis

Debt Level: ATAD's debt to equity ratio (1.6%) is considered satisfactory.

Reducing Debt: ATAD's debt to equity ratio has reduced from 4.5% to 1.6% over the past 5 years.

Debt Coverage: ATAD's debt is well covered by operating cash flow (2078.4%).

Interest Coverage: ATAD earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: ATAD has a high level of physical assets or inventory.

Debt Coverage by Assets: ATAD's debt is covered by short term assets (assets are 23x debt).


Next Steps

Dividend

What is PJSC Tatneft's current dividend yield, its reliability and sustainability?

12.42%

Current Dividend Yield


Dividend Yield vs Market

company12.4%marketbottom25%1.6%markettop25%4.5%industryaverage6.3%forecastin3Years11.1%

Current dividend yield vs market & industry

Notable Dividend: ATAD's dividend (12.42%) is higher than the bottom 25% of dividend payers in the Austrian market (1.58%).

High Dividend: ATAD's dividend (12.42%) is in the top 25% of dividend payers in the Austrian market (4.47%)


Stability and Growth of Payments

Stable Dividend: ATAD's dividend payments have been volatile in the past 10 years.

Growing Dividend: ATAD's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (103.6%), ATAD's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: ATAD's dividends in 3 years are forecast to be covered by earnings (81.4% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

7.7yrs

Average management tenure


CEO

Nail Maganov (61yo)

6.3yrs

Tenure

0

Mr. Nail Ulfatovich Maganov has been a General Director of PJSC Tatneft since November 27, 2013 and serves as its Chairman and Member of The Management Board. Mr. Maganov served the Head of Oil and Refined ...


Leadership Team

NamePositionTenureCompensationOwnership
Nail Maganov
General Director6.3yrsno data0.00018% RUB44.8k
Yevgeny Alexandrovich Tikhturov
Head of Financial Department & Member of Management Board21.1yrsno datano data
Nail Ibragimov
First Deputy General Director of Operations0yrsno data0.020% RUB5.0m
Rustam Mukhamadeev
Deputy General Director for Social Development & Member of Management Board0yrsno data0.0041% RUB1.0m
Nikolay Glazkov
Deputy General Director of Capital Construction & Member of Management Board7.7yrsno datano data
Nurislam Syubaev
Head of Strategic Planning Department0.7yrsno datano data
Rais Khisamov
Deputy General Director22.1yrsno data0.021% RUB5.2m
Ildar Rakhmatullin
Head of the Internal Audit Department0yrsno datano data
Ravil Sharifullin
Head of Control & Revision Department0yrsno datano data
Ilshat Bariev
Deputy Head of Economic Security Department0yrsno datano data

7.7yrs

Average Tenure

61yo

Average Age

Experienced Management: ATAD's management team is seasoned and experienced (7.7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Nail Maganov
General Director6.3yrsno data0.00018% RUB44.8k
Nurislam Syubaev
Head of Strategic Planning Department0.7yrsno datano data
Rais Khisamov
Deputy General Director22.1yrsno data0.021% RUB5.2m
Rustam Khalimov
First Deputy General Director of Oil4.7yrsno data0.00011% RUB27.3k
Shafagat Takhautdinov
Advisor to the Chairman & Non-Executive Director26.1yrsno data0.12% RUB29.8m
René Steiner
Independent Director7.1yrsno datano data
Rustam Minnikhanov
Chairman of the Board21.7yrsno datano data
Renat Muslimov
Director25.1yrsno data0.049% RUB12.1m
Rafael Nurmukhametov
Director12.7yrsno data0.011% RUB2.7m
Yuri Levin
Independent Director4.7yrsno datano data

16.4yrs

Average Tenure

64yo

Average Age

Experienced Board: ATAD's board of directors are seasoned and experienced ( 16.4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

PJSC Tatneft's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: PJSC Tatneft
  • Ticker: ATAD
  • Exchange: WBAG
  • Founded: 1950
  • Industry: Oil and Gas Exploration and Production
  • Sector: Energy
  • Market Cap: ₽1.714t
  • Listing Market Cap: ₽24.861b
  • Shares outstanding: 2.25b
  • Website: https://www.tatneft.ru

Location

  • PJSC Tatneft
  • 75 Lenin Street
  • Almetyevsk
  • Tatarstan
  • 423450
  • Russia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TATNMISX (Micex - Rts)YesCommon SharesRURUBJan 1996
TATNPMISX (Micex - Rts)Preferred SharesRURUBAug 2002
ATADLSE (London Stock Exchange)ADR EACH REP 6 ORD SHS REGSGBUSDNov 2006
TTFBDB (Deutsche Boerse AG)ADR EACH REP 6 ORD SHS REGSDEEURNov 2006
OAOF.YOTCPK (Pink Sheets LLC)ADR EACH REP 6 ORD SHS REGSUSUSDNov 2006
ATADLBATS-CHIXE (BATS 'Chi-X Europe')ADR EACH REP 6 ORD SHS REGSGBUSDNov 2006
ATADWBAG (Wiener Boerse AG)ADR EACH REP 6 ORD SHS REGSATEURNov 2006

Biography

PJSC Tatneft, together with its subsidiaries, engages in exploration, development, and production of crude oil primarily in Russia. The company operates in four segments: Exploration and Production, Refining and Marketing, Petrochemical Products, and Banking. It holds interests in oil and gas fields located principally on the territory of Tatarstan in Russia. The company is also involved in the refining and marketing of crude oil; purchase and sale of crude oil and refined products from third parties; and retailing activities. In addition, it produces and sells tires, as well as petrochemical raw materials and refined products used in the production of tires. Further, the company sells oilfield equipment, and auxiliary petrochemical related services and materials; and provides drilling services to other companies in Tatarstan. Additionally, it is involved in banking activities. The company was founded in 1950 and is headquartered in Almetyevsk, Russia. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/16 22:56
End of Day Share Price2020/02/14 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.