MISX:GAZP

Stock Analysis Report

Executive Summary

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

Rewards

Trading at 0.4% below its fair value

Earnings grew by 29.4% over the past year

Risk Analysis

Earnings are forecast to decline by an average of -2.5% per year for the next 3 years

Unstable dividend track record



Snowflake Analysis

Solid track record, good value and pays a dividend.


Similar Companies

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-2.0%

GAZP

-1.3%

RU Oil and Gas

-1.1%

RU Market


1 Year Return

51.3%

GAZP

22.5%

RU Oil and Gas

16.9%

RU Market

Return vs Industry: GAZP exceeded the Russian Oil and Gas industry which returned 22.5% over the past year.

Return vs Market: GAZP exceeded the Russian Market which returned 16.9% over the past year.


Shareholder returns

GAZPIndustryMarket
7 Day-2.0%-1.3%-1.1%
30 Day-5.6%-2.3%-1.6%
90 Day5.4%7.2%3.4%
1 Year62.6%51.3%32.0%22.5%25.4%16.9%
3 Year99.3%63.8%83.2%53.0%54.5%30.5%
5 Year147.4%82.9%164.3%104.0%157.1%101.5%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

0.4%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: GAZP (RUB248.93) is trading below our estimate of fair value (RUB249.9)

Significantly Below Fair Value: GAZP is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: GAZP is good value based on its PE Ratio (3.7x) compared to the Oil and Gas industry average (5.2x).

PE vs Market: GAZP is good value based on its PE Ratio (3.7x) compared to the Russian market (7.5x).


Price to Earnings Growth Ratio

PEG Ratio: GAZP's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: GAZP is good value based on its PB Ratio (0.4x) compared to the RU Oil and Gas industry average (0.9x).


Next Steps

Future Growth

How is Gazprom forecast to perform in the next 1 to 3 years based on estimates from 16 analysts?

-2.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: GAZP's earnings are forecast to decline over the next 3 years (-2.5% per year).

Earnings vs Market: GAZP's earnings are forecast to decline over the next 3 years (-2.5% per year).

High Growth Earnings: GAZP's earnings are forecast to decline over the next 3 years.

Revenue vs Market: GAZP's revenue (3.2% per year) is forecast to grow slower than the Russian market (4.2% per year).

High Growth Revenue: GAZP's revenue (3.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: GAZP's Return on Equity is forecast to be low in 3 years time (10.1%).


Next Steps

Past Performance

How has Gazprom performed over the past 5 years?

26.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: GAZP has high quality earnings.

Growing Profit Margin: GAZP's current net profit margins (18.5%) are higher than last year (14.7%).


Past Earnings Growth Analysis

Earnings Trend: GAZP's earnings have grown significantly by 26.1% per year over the past 5 years.

Accelerating Growth: GAZP's earnings growth over the past year (29.4%) exceeds its 5-year average (26.1% per year).

Earnings vs Industry: GAZP earnings growth over the past year (29.4%) exceeded the Oil and Gas industry 5.3%.


Return on Equity

High ROE: GAZP's Return on Equity (10.9%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Gazprom's financial position?


Financial Position Analysis

Short Term Liabilities: GAZP's short term assets (RUB3,697.4B) exceed its short term liabilities (RUB2,114.0B).

Long Term Liabilities: GAZP's short term assets (RUB3,697.4B) do not cover its long term liabilities (RUB4,842.6B).


Debt to Equity History and Analysis

Debt Level: GAZP's debt to equity ratio (26.5%) is considered satisfactory.

Reducing Debt: GAZP's debt to equity ratio has increased from 20.2% to 26.5% over the past 5 years.

Debt Coverage: GAZP's debt is well covered by operating cash flow (47.5%).

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


Balance Sheet

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

Debt Coverage by Assets: GAZP's debt is not covered by short term assets (assets are 1x debt).


Next Steps

Dividend

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

6.67%

Current Dividend Yield


Dividend Yield vs Market

company6.7%marketbottom25%3.5%markettop25%8.6%industryaverage6.6%forecastin3Years9.1%

Current dividend yield vs market & industry

Notable Dividend: GAZP's dividend (6.67%) is higher than the bottom 25% of dividend payers in the Russian market (3.51%).

High Dividend: GAZP's dividend (6.67%) is low compared to the top 25% of dividend payers in the Russian market (8.57%).


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (24.8%), GAZP's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: GAZP's dividends in 3 years are forecast to be covered by earnings (52.2% payout ratio).


Next Steps

Management

What is the CEO of Gazprom's salary, the management and board of directors tenure and is there insider trading?

5.1yrs

Average management tenure


CEO

Alexei Miller (57yo)

0yrs

Tenure

0

Mr. Alexey Borisovich Miller, also known as Alexei, serves as the Chairman of Gazprom for Russia at GAZPROMAVIA Aviation Company Ltd. Mr. Miller has been the Chief Executive Officer at Public Joint Stock C ...


Management Age and Tenure

5.1yrs

Average Tenure

57.5yo

Average Age

Experienced Management: GAZP's management team is seasoned and experienced (5.1 years average tenure).


Board Age and Tenure

8.5yrs

Average Tenure

57yo

Average Age

Experienced Board: GAZP's board of directors are considered experienced (8.5 years average tenure).


Insider Trading

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.


Management Team

  • Alexei Miller (57yo)

    Chairman of Management Committee & Deputy Chairman

    • Tenure: 0yrs
  • Elena Vasilieva (60yo)

    Deputy Chairwoman of the Management Committee & Chief Accountant

    • Tenure: 18.3yrs
  • Mikhail Sereda (49yo)

    Deputy Chairman of Mgmt. Committee

    • Tenure: 17.9yrs
  • Sergey Khomyakov (66yo)

    Deputy Chairman of Mgmt. Committee & Director General of Corporate Security Svc Branch - Moscow

    • Tenure: 12.8yrs
  • Elena Lobatcheva

    Deputy Head of Information For Gazprom Stockholders

    • Tenure: 0yrs
  • Oleg Aksyutin (52yo)

    Deputy CEO & Head of Department 623

    • Tenure: 11.2yrs
  • Kasyan Kasyanova (58yo)

    Head of Department 715

    • Tenure: 4.9yrs
  • Famil Kamil Sadygov (51yo)

    Deputy Chairman of Management Committee

    • Tenure: 0.7yrs
  • Ivan Khromushin

    Head of Investors Relations Division

    • Tenure: 5.1yrs
  • Gennady Sukhov (58yo)

    Head of Department 314 & Member of the Management Board

    • Tenure: 0.7yrs

Board Members

  • Alexei Miller (57yo)

    Chairman of Management Committee & Deputy Chairman

    • Tenure: 0yrs
  • Mikhail Sereda (49yo)

    Deputy Chairman of Mgmt. Committee

    • Tenure: 17.9yrs
  • Andrey Akimov (66yo)

    Director

    • Tenure: 8.5yrs
  • Timur Kulibaev (53yo)

    Independent Director

    • Tenure: 8.5yrs
  • Vladimir Mau (60yo)

    Independent Director

    • Tenure: 8.5yrs
  • Margarita Mironova

    First Deputy Head of Mgmt Committee Admin

    • Tenure: 0yrs
  • Victor Zubkov (78yo)

    Chairman

    • Tenure: 11.5yrs
  • Vitaly Markelov (56yo)

    Deputy Chairman of the Management Committee & Director

    • Tenure: 7.9yrs
  • Victor Martynov (66yo)

    Independent Director

    • Tenure: 6.9yrs
  • Karen Oganyan (45yo)

    Head of Department 822 & Member of Audit Commission

    • Tenure: 0yrs

Company Information

Public Joint Stock Company Gazprom's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Public Joint Stock Company Gazprom
  • Ticker: GAZP
  • Exchange: MISX
  • Founded: 1993
  • Industry: Integrated Oil and Gas
  • Sector: Energy
  • Market Cap: ₽5.681t
  • Shares outstanding: 22.82b
  • Website: https://www.gazprom.com

Number of Employees


Location

  • Public Joint Stock Company Gazprom
  • 16 Nametkina Street
  • GSP-7
  • Moscow
  • 117997
  • Russia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
GAZPMISX (Micex - Rts)YesOrdinary SharesRURUBFeb 1995
RU_GAZPKAS (Kazakhstan Stock Exchange)YesOrdinary SharesKZKZTFeb 1995
GAZDB (Deutsche Boerse AG)SPON ADR EA REP 2 ORD SHSDEEUROct 1996
GAZXTRA (XETRA Trading Platform)SPON ADR EA REP 2 ORD SHSDEEUROct 1996
OGZD NBMV (Bolsa Mexicana de Valores)SPON ADR EA REP 2 ORD SHSMXMXNOct 1996
OGZDLSE (London Stock Exchange)SPON ADR EA REP 2 ORD SHSGBUSDOct 1996
OGZDLBATS-CHIXE (BATS 'Chi-X Europe')SPON ADR EA REP 2 ORD SHSGBUSDOct 1996
OGZDMISX (Micex - Rts)SPON ADR EA REP 2 ORD SHSRUUSDOct 1996
OGZP.YOTCPK (Pink Sheets LLC)SPON ADR EA REP 2 ORD SHSUSUSDOct 1996
OGZDWBAG (Wiener Boerse AG)SPON ADR EA REP 2 ORD SHSATEUROct 1996
OGZDBASE (Buenos Aires Stock Exchange)CEDEAR EACH REPR 2 ADR RUB5ARARSJan 2008

Biography

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


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/12/04 21:21
End of Day Share Price2019/12/04 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.