AIM:ZOL

Stock Analysis Report

Executive Summary

Zoltav Resources Inc. acquires, explores for, develops, and produces hydrocarbons in Russia.


Snowflake Analysis

Imperfect balance sheet with weak fundamentals.

Share Price & News

How has Zoltav Resources's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: ZOL's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

0%

ZOL

7.4%

GB Oil and Gas

3.9%

GB Market


1 Year Return

-7.0%

ZOL

-38.8%

GB Oil and Gas

-22.4%

GB Market

Return vs Industry: ZOL exceeded the UK Oil and Gas industry which returned -42.4% over the past year.

Return vs Market: ZOL exceeded the UK Market which returned -23% over the past year.


Shareholder returns

ZOLIndustryMarket
7 Day0%7.4%3.9%
30 Day-13.0%-21.3%-16.1%
90 Day-43.7%-36.8%-26.1%
1 Year-7.0%-7.0%-35.6%-38.8%-18.2%-22.4%
3 Year-34.4%-34.4%-16.6%-27.2%-11.7%-23.1%
5 Year-60.8%-60.8%0.7%-20.1%1.9%-21.5%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Zoltav Resources undervalued compared to its fair value and its price relative to the market?

0.53x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: ZOL (£0.2) is trading above our estimate of fair value (£0.04)

Significantly Below Fair Value: ZOL is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: ZOL is unprofitable, so we can't compare its PE Ratio to the Oil and Gas industry average.

PE vs Market: ZOL is unprofitable, so we can't compare its PE Ratio to the UK market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate ZOL's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: ZOL is overvalued based on its PB Ratio (0.5x) compared to the GB Oil and Gas industry average (0.4x).


Next Steps

Future Growth

How is Zoltav Resources forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

16.5%

Forecasted Energy industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Zoltav Resources has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Zoltav Resources performed over the past 5 years?

-52.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ZOL is currently unprofitable.

Growing Profit Margin: ZOL is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: ZOL is unprofitable, and losses have increased over the past 5 years at a rate of -52.9% per year.

Accelerating Growth: Unable to compare ZOL's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: ZOL is unprofitable, making it difficult to compare its past year earnings growth to the Oil and Gas industry (38.2%).


Return on Equity

High ROE: ZOL has a negative Return on Equity (-2.73%), as it is currently unprofitable.


Next Steps

Financial Health

How is Zoltav Resources's financial position?


Financial Position Analysis

Short Term Liabilities: ZOL's short term assets (RUB468.9M) do not cover its short term liabilities (RUB1.6B).

Long Term Liabilities: ZOL's short term assets (RUB468.9M) do not cover its long term liabilities (RUB893.5M).


Debt to Equity History and Analysis

Debt Level: ZOL's debt to equity ratio (25.6%) is considered satisfactory.

Reducing Debt: ZOL's debt to equity ratio has reduced from 31.9% to 25.6% over the past 5 years.


Balance Sheet

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

Debt Coverage by Assets: ZOL's debt is not covered by short term assets (assets are 0.4x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Insufficient data to determine if ZOL has enough cash runway based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if ZOL has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Next Steps

Dividend

What is Zoltav Resources's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate ZOL's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate ZOL's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if ZOL's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if ZOL's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of ZOL's dividend in 3 years as they are not forecast to pay a notable one for the UK market.


Next Steps

Management

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

4.4yrs

Average board tenure


CEO

Tigran Tagvoryan

0.83

Tenure

Mr. Tigran Tagvoryan has been the Chief Executive Officer of Zoltav Resources Inc. since April 1, 2019. Mr. Tagvoryan joined Zoltav as Deputy Chief Executive Officer in November 2018. He has significant se ...


Board Members

NamePositionTenureCompensationOwnership
Alexander Gorodetsky
Independent Non-Executive Director4.42yrs₽2.01mno data
Andrey Immel
Non-Executive Director4.42yrsno datano data
Lea Verny
Independent Non-Executive Chairman & Senior Independent Director3yrs₽6.29mno data

4.4yrs

Average Tenure

Experienced Board: ZOL's board of directors are considered experienced (4.4 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

Zoltav Resources Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Zoltav Resources Inc.
  • Ticker: ZOL
  • Exchange: AIM
  • Founded: 2003
  • Industry: Oil and Gas Exploration and Production
  • Sector: Energy
  • Market Cap: UK£28.391m
  • Shares outstanding: 141.96m
  • Website: https://www.zoltav.com

Number of Employees


Location

  • Zoltav Resources Inc.
  • Willow House
  • Cricket Square
  • Grand Cayman
  • Grand Cayman
  • KY1-1001
  • Cayman Islands

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ZOLAIM (London Stock Exchange AIM Market)YesNew Ordinary SharesGBGBPJul 2013
CXC1BST (Boerse-Stuttgart)YesNew Ordinary SharesDEEURJul 2013

Biography

Zoltav Resources Inc. acquires, explores for, develops, and produces hydrocarbons in Russia. The company holds interests in the Bortovoy license covering an area of 3,215 square kilometers with proved plus probable reserves of 750 billion cubic feet of gas, and 3.9 million barrels of oil and condensate located in the Saratov region of south western Russia. It also owns interests in the Koltogor exploration and production license containing the Koltogor oil field covering an area of 528 square kilometers with proved plus probable reserves of 79.2 million barrels of oil equivalent located in the Khantiy-Mansisk Autonomous Okrug of Western Siberia; and the Koltogor exploration and production license 10 containing the West Koltogor oil field covering an area of 167 square kilometers. Zoltav Resources Inc. was incorporated in 2003 and is based in Grand Cayman, the Cayman Islands. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/31 22:45
End of Day Share Price2020/03/31 00:00
Earnings2019/06/30
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.