Gazprom
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. The last earnings update was 27 days ago. More info.
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- Gazprom has significant price volatility in the past 3 months.
GAZP Share Price and Events
7 Day Returns
1 Year Returns
GAZP Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Gazprom (GAZP) | 2.8% | 27% | 32.3% | 40.9% | 36.4% | 44.3% |
| RU Oil and Gas | 2.1% | 4.2% | 5.2% | 16.1% | 43.4% | 83.3% |
| RU Market | 1.9% | 2.6% | 1.5% | 8.5% | 34.3% | 89.2% |
1 Year Return vs Industry and Market
- GAZP outperformed the Oil and Gas industry which returned 16.1% over the past year.
- GAZP outperformed the Market in Russian Federation which returned 8.5% over the past year.
GAZP Value
Is Gazprom undervalued based on future cash flows and its price relative to the stock market?
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Gazprom
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Gazprom.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 13 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 21.2% |
| Perpetual Growth Rate | 10-Year RU Government Bond Rate | 8.4% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year RU Govt Bond Rate | 8.4% |
| Equity Risk Premium | S&P Global | 9.4% |
| Oil and Gas Unlevered Beta | Simply Wall St/ S&P Global | 0.9 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.903 (1 + (1- 20%) (85.39%)) |
1.348 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.35 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 8.44% + (1.348 * 9.43%) |
21.15% |
Discounted Cash Flow Calculation for MISX:GAZP using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Gazprom is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
| Levered FCF (RUB, Millions) | Source |
Present Value Discounted (@ 21.15%) |
|
|---|---|---|---|
| 2019 | 382,076.14 | Analyst x5 | 315,365.73 |
| 2020 | 702,002.42 | Analyst x3 | 478,264.10 |
| 2021 | 713,212.06 | Analyst x4 | 401,062.86 |
| 2022 | 730,790.98 | Analyst x3 | 339,196.63 |
| 2023 | 814,361.03 | Analyst x2 | 311,989.46 |
| 2024 | 862,315.92 | Est @ 5.89% | 272,680.41 |
| 2025 | 919,694.92 | Est @ 6.65% | 240,046.79 |
| 2026 | 985,819.51 | Est @ 7.19% | 212,380.25 |
| 2027 | 1,060,395.65 | Est @ 7.56% | 188,559.86 |
| 2028 | 1,143,397.29 | Est @ 7.83% | 167,819.74 |
| Present value of next 10 years cash flows | RUB2,927,365.84 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= RUB1,143,397.29 × (1 + 8.44%) ÷ (21.15% – 8.44%) |
RUB9,752,743.85 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= RUB9,752,743.85 ÷ (1 + 21.15%)10 |
RUB1,431,438.55 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= RUB2,927,365.84 + RUB1,431,438.55 |
RUB4,358,804.39 |
| Equity Value per Share (RUB) |
= Total value / Shares Outstanding
= RUB4,358,804.39 / 22,127.00 |
RUB196.99 |
| Calculation | Result | |
|---|---|---|
| Value per share (RUB) | From above. | RUB196.99 |
| Current discount | Discount to share price of
RUB204.50
= -1 x (RUB204.50 - RUB196.99) / RUB196.99 |
-3.8% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of Gazprom is above its future cash flow value.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Gazprom's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Gazprom's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in RUB | RUB65.89 |
| MISX:GAZP Share Price ** | MISX (2019-05-24) in RUB | RUB204.5 |
| Russian Federation Oil and Gas Industry PE Ratio | Median Figure of 13 Publicly-Listed Oil and Gas Companies | 4.26x |
| Russian Federation Market PE Ratio | Median Figure of 135 Publicly-Listed Companies | 7.36x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Gazprom.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = MISX:GAZP Share Price ÷ EPS (both in RUB) = 204.5 ÷ 65.89 |
3.1x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Gazprom is good value based on earnings compared to the RU Oil and Gas industry average.
- Gazprom is good value based on earnings compared to the Russian Federation market.
Price based on expected Growth
Does
Gazprom's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 3.1x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts |
-0.9%per year |
| Russian Federation Oil and Gas Industry PEG Ratio | Median Figure of 8 Publicly-Listed Oil and Gas Companies | 0.89x |
| Russian Federation Market PEG Ratio | Median Figure of 34 Publicly-Listed Companies | 0.73x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 3.1x ÷ -0.9% |
-3.48x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Gazprom earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on
Gazprom's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in RUB | RUB601.08 |
| MISX:GAZP Share Price * | MISX (2019-05-24) in RUB | RUB204.5 |
| Russian Federation Oil and Gas Industry PB Ratio | Median Figure of 13 Publicly-Listed Oil and Gas Companies | 0.73x |
| Russian Federation Market PB Ratio | Median Figure of 152 Publicly-Listed Companies | 0.78x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = MISX:GAZP Share Price ÷ Book Value per Share (both in RUB) = 204.5 ÷ 601.08 |
0.34x |
* Primary Listing of Gazprom.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Gazprom is good value based on assets compared to the RU Oil and Gas industry average.
Value checks
We assess Gazprom's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check) Gazprom has a total score of 3/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
GAZP Future Performance
How is Gazprom expected to perform in the next 1 to 3 years based on estimates from 13 analysts?
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Gazprom's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 8.4%.
Growth vs Market Checks
- Gazprom's earnings are expected to decrease over the next 1-3 years, this is below the Russian Federation market average.
- Gazprom's revenue growth is positive but not above the Russian Federation market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| MISX:GAZP Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts | -0.9% |
| MISX:GAZP Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 13 Analysts | 2.3% |
| Russian Federation Oil and Gas Industry Earnings Growth Rate | Market Cap Weighted Average | -0.6% |
| Russian Federation Oil and Gas Industry Revenue Growth Rate | Market Cap Weighted Average | 2.5% |
| Russian Federation Market Earnings Growth Rate | Market Cap Weighted Average | 3.3% |
| Russian Federation Market Revenue Growth Rate | Market Cap Weighted Average | 4.1% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (4 months ago) | See Below |
| Future Estimates | Average of up to 13 Analyst Estimates (S&P Global) | See Below |
| Date (Data in RUB Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 9,445,316 | 1,360,740 | 2 | |
| 2022-12-31 | 8,872,788 | 2,472,841 | 1,371,449 | 4 |
| 2021-12-31 | 8,662,200 | 2,017,759 | 1,421,047 | 10 |
| 2020-12-31 | 8,369,273 | 1,912,799 | 1,369,247 | 13 |
| 2019-12-31 | 8,078,024 | 2,082,571 | 1,266,177 | 13 |
| Date (Data in RUB Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 8,224,177 | 1,617,384 | 1,456,270 |
| 2018-09-30 | 7,806,138 | 2,000,553 | 1,149,718 |
| 2018-06-30 | 7,307,764 | 1,687,939 | 963,760 |
| 2018-03-31 | 6,869,173 | 1,543,560 | 752,472 |
| 2017-12-31 | 6,546,143 | 1,187,022 | 714,302 |
| 2017-09-30 | 6,431,283 | 1,007,665 | 824,150 |
| 2017-06-30 | 6,256,613 | 1,086,308 | 725,823 |
| 2017-03-31 | 6,188,988 | 1,002,398 | 922,781 |
| 2016-12-31 | 6,111,051 | 1,571,323 | 951,637 |
| 2016-09-30 | 6,188,465 | 1,812,071 | 822,473 |
| 2016-06-30 | 6,224,238 | 1,977,282 | 718,312 |
| 2016-03-31 | 6,162,429 | 2,009,058 | 767,253 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (4 months ago) | See Below |
| Future Estimates | Average of up to 13 Analyst Estimates (S&P Global) | See Below |
All data from Gazprom Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in RUB Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | ||||
| 2022-12-31 | ||||
| 2021-12-31 | 60.77 | 66.34 | 57.88 | 3.00 |
| 2020-12-31 | 57.48 | 63.17 | 54.01 | 4.00 |
| 2019-12-31 | 54.66 | 56.40 | 52.08 | 3.00 |
| Date (Data in RUB Millions) | EPS * |
|---|---|
| 2018-12-31 | 65.89 |
| 2018-09-30 | 52.02 |
| 2018-06-30 | 43.61 |
| 2018-03-31 | 34.05 |
| 2017-12-31 | 32.32 |
| 2017-09-30 | 37.22 |
| 2017-06-30 | 32.77 |
| 2017-03-31 | 41.24 |
| 2016-12-31 | 42.11 |
| 2016-09-30 | 36.10 |
| 2016-06-30 | 31.23 |
| 2016-03-31 | 33.36 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Gazprom's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Russian Federation market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Russian Federation market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Gazprom has a total score of 0/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
GAZP Past Performance
How has Gazprom performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Gazprom's year on year earnings growth rate has been positive over the past 5 years.
- Gazprom's 1-year earnings growth exceeds its 5-year average (103.9% vs 8.7%)
- Gazprom's earnings growth has exceeded the RU Oil and Gas industry average in the past year (103.9% vs 47.8%).
Earnings and Revenue History
All data from Gazprom Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in RUB Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 8,224,177.00 | 1,456,270.00 | 713,406.00 | 13,591.00 |
| 2018-09-30 | 7,806,138.00 | 1,149,718.00 | 836,858.00 | 14,762.00 |
| 2018-06-30 | 7,307,764.00 | 963,760.00 | 823,298.00 | 17,497.00 |
| 2018-03-31 | 6,869,173.00 | 752,472.00 | 806,559.00 | 14,592.00 |
| 2017-12-31 | 6,546,143.00 | 714,302.00 | 784,735.00 | 16,175.00 |
| 2017-09-30 | 6,431,283.00 | 824,150.00 | 761,411.00 | 14,522.00 |
| 2017-06-30 | 6,256,613.00 | 725,823.00 | 747,361.00 | 22,121.00 |
| 2017-03-31 | 6,188,988.00 | 922,781.00 | 738,311.00 | 29,113.00 |
| 2016-12-31 | 6,111,051.00 | 951,637.00 | 736,671.00 | 28,990.00 |
| 2016-09-30 | 6,188,465.00 | 822,473.00 | 748,950.00 | 32,739.00 |
| 2016-06-30 | 6,224,238.00 | 718,312.00 | 731,324.00 | 30,329.00 |
| 2016-03-31 | 6,162,429.00 | 767,253.00 | 711,960.00 | 32,253.00 |
| 2015-12-31 | 6,073,318.00 | 787,056.00 | 686,280.00 | 30,588.00 |
| 2015-09-30 | 5,788,506.00 | 276,654.00 | 579,159.00 | 25,121.00 |
| 2015-06-30 | 5,629,331.00 | 384,330.00 | 656,074.00 | 24,430.00 |
| 2015-03-31 | 5,679,327.00 | 318,109.00 | 642,861.00 | 20,529.00 |
| 2014-12-31 | 5,589,811.00 | 159,004.00 | 625,595.00 | 19,653.00 |
| 2014-09-30 | 5,380,251.00 | 836,742.00 | 720,490.00 | 23,307.00 |
| 2014-06-30 | 5,451,207.00 | 1,007,156.00 | 613,819.00 | 17,805.00 |
| 2014-03-31 | 5,242,693.00 | 981,603.00 | 594,760.00 | 16,758.00 |
| 2013-12-31 | 5,145,397.00 | 1,139,261.00 | 585,041.00 | 16,738.00 |
| 2013-09-30 | 5,087,595.00 | 1,256,059.00 | 142,191.00 | -6,718.00 |
| 2013-06-30 | 5,004,705.00 | 1,289,760.00 | 131,596.00 | -4,199.00 |
| 2013-03-31 | 4,903,878.00 | 1,243,736.00 | 103,217.00 | -536.00 |
| 2012-12-31 | 4,667,715.00 | 1,224,474.00 | 71,364.00 | |
| 2012-09-30 | 4,597,470.00 | 1,210,559.00 | 87,627.00 | 2,567.00 |
| 2012-06-30 | 4,425,399.00 | 1,052,746.00 | 73,604.00 | 1,497.00 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- Gazprom has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Gazprom used its assets less efficiently than the RU Oil and Gas industry average last year based on Return on Assets.
- Gazprom has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Gazprom's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Gazprom has a total score of 4/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
GAZP Health
How is Gazprom's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Gazprom's finances.
The net worth of a company is the difference between its assets and liabilities.
- Gazprom is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- Gazprom's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is covered by short term assets, assets are 1.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Gazprom Company Filings, last reported 4 months ago.
| Date (Data in RUB Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 13,776,153.00 | 3,863,822.00 | 1,672,418.00 |
| 2018-09-30 | 13,325,760.00 | 3,512,327.00 | 1,369,542.00 |
| 2018-06-30 | 12,682,539.00 | 3,367,321.00 | 1,460,353.00 |
| 2018-03-31 | 12,431,884.00 | 3,360,756.00 | 1,553,416.00 |
| 2017-12-31 | 12,015,481.00 | 3,266,518.00 | 1,228,033.00 |
| 2017-09-30 | 11,794,828.00 | 3,138,428.00 | 1,020,887.00 |
| 2017-06-30 | 11,625,304.00 | 3,072,105.00 | 1,296,923.00 |
| 2017-03-31 | 11,644,640.00 | 2,730,059.00 | 1,172,454.00 |
| 2016-12-31 | 11,441,839.00 | 2,829,623.00 | 1,052,126.00 |
| 2016-09-30 | 11,114,173.00 | 2,968,118.00 | 799,378.00 |
| 2016-06-30 | 11,146,415.00 | 3,084,759.00 | 1,334,405.00 |
| 2016-03-31 | 11,188,914.00 | 3,347,583.00 | 1,575,748.00 |
| 2015-12-31 | 10,914,622.00 | 3,442,215.00 | 1,497,777.00 |
| 2015-09-30 | 10,789,114.00 | 3,147,881.00 | 1,135,050.00 |
| 2015-06-30 | 10,517,439.00 | 2,554,159.00 | 1,114,288.00 |
| 2015-03-31 | 10,452,168.00 | 2,676,411.00 | 1,236,808.00 |
| 2014-12-31 | 10,120,021.00 | 2,688,824.00 | 1,047,772.00 |
| 2014-09-30 | 10,054,357.00 | 2,018,894.00 | 763,611.00 |
| 2014-06-30 | 9,905,774.00 | 1,838,429.00 | 967,304.00 |
| 2014-03-31 | 9,896,813.00 | 1,926,681.00 | 980,293.00 |
| 2013-12-31 | 9,634,354.00 | 1,801,928.00 | 711,485.00 |
| 2013-09-30 | 9,334,633.00 | 1,728,516.00 | 589,481.00 |
| 2013-06-30 | 9,053,112.00 | 1,619,630.00 | 729,433.00 |
| 2013-03-31 | 8,866,389.00 | 1,545,320.00 | 589,142.00 |
| 2012-12-31 | 8,479,945.00 | 1,500,592.00 | 441,651.00 |
| 2012-09-30 | 8,330,597.00 | 1,632,912.00 | 492,346.00 |
| 2012-06-30 | 8,051,490.00 | 1,527,067.00 | 534,891.00 |
- Gazprom's level of debt (28%) compared to net worth is satisfactory (less than 40%).
- The level of debt compared to net worth has increased over the past 5 years (18.7% vs 28% today).
- Debt is well covered by operating cash flow (41.9%, greater than 20% of total debt).
- Gazprom earns more interest than it pays, coverage of interest payments is not a concern.
Financial health checks
We assess Gazprom's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Gazprom has a total score of 4/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
GAZP Dividends
What is Gazprom's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
RUB2,000 of
Gazprom
shares you are expected to receive
RUB102
in your first year as a dividend.
Dividend Amount
- Gazprom's pays a higher dividend yield than the bottom 25% of dividend payers in Russian Federation (3.38%).
- Gazprom's dividend is below the markets top 25% of dividend payers in Russian Federation (9.21%).
Upcoming dividend payment
Purchase Gazprom before the 'Buy Limit' to receive their next dividend payment.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 13 Analyst Estimates (S&P Global) | See Below |
| Russian Federation Oil and Gas Industry Average Dividend Yield | Market Cap Weighted Average of 9 Stocks | 6.5% |
| Russian Federation Market Average Dividend Yield | Market Cap Weighted Average of 74 Stocks | 7% |
| Russian Federation Minimum Threshold Dividend Yield | 10th Percentile | 1.7% |
| Russian Federation Bottom 25% Dividend Yield | 25th Percentile | 3.4% |
| Russian Federation Top 25% Dividend Yield | 75th Percentile | 9.2% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in RUB) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-12-31 | 25.90 | 2.00 |
| 2022-12-31 | 23.81 | 2.00 |
| 2021-12-31 | 19.53 | 5.00 |
| 2020-12-31 | 16.70 | 7.00 |
| 2019-12-31 | 14.68 | 7.00 |
| Date (Data in RUB) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-04-12 | 10.430 | 6.026 |
| 2018-06-29 | 8.040 | 5.241 |
| 2017-05-18 | 8.040 | 6.126 |
| 2016-05-19 | 7.890 | 5.637 |
| 2015-08-10 | 7.200 | 5.106 |
| 2015-05-06 | 7.200 | 4.982 |
| 2014-05-15 | 7.200 | 5.079 |
| 2013-05-23 | 5.990 | 4.474 |
| 2012-04-27 | 8.970 | 6.183 |
| 2011-12-20 | 8.390 | 4.608 |
| 2011-04-28 | 2.390 | 1.318 |
| 2010-03-01 | 2.390 | 1.351 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Gazprom has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
- Dividend payments have increased, but Gazprom only paid a dividend in the past 9 years.
Income/ dividend checks
We assess Gazprom's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.7%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Gazprom afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Gazprom has a total score of 3/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
GAZP Management
CEO
| AGE | 56 |
CEO Bio
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 Company Gazprom since 2001. Mr. Miller served as the Chairman and Member of the Council at Gazprombank (Joint - Stock Company) (formerly known as Gazprombank Open Joint Stock Company). He served as Chairman of ManagementBoard of Gazprom Neft since 2001. Since 1990, he served as Researcher of Leningrad Finance and Economics Institute and Head of Section, Leningrad City Council. From 1991 to 1996, he served as the Head of Markets Monitoring Section, Foreign Economic Relations Department. From 1996 to 1999, he served as Director of Development and Investments at Morskoy Port of St. Petersburg Open Joint Stock Company. He also served as General Director of Balttiiskaya Truboprovodnaya Sistema (Baltic Pipeline System) from 1999 to 2000. He served as an Engineer-economist, the General planning division of Leningrad Civil Construction Research and Design Institute. Mr. Miller has been Chairman of JSC Gazprom-Media Holding since October 26. 2007. He has been Chairman of the Board at OAO Rosgeologiya (also known as JSC Rosgeologiya0 since December 16, 2011. He has been Chairman of Public Joint Stock Company Gazprom Neft since December 2005. He has been the Deputy Chairman of PJSC Gazprom and Open joint stock company Gazprom gazoraspredelenie Syktyvkar since June 2002. He served as Deputy Chairman of the Board of SC Gazprom from June 2005 to June 2008. He has been a Director of Public Joint Stock Company Gazprom since 2002. Mr. Miller serves as Deputy Chairman of Shtokman Development AG, Open joint stock company Gazprom gazoraspredelenie Syktyvkar, and JSC "Gazprom gazoraspredelenie Tula". He serves as a Member of Supervisory Board at South Stream Transport B.V. He serves as a Director of Gazprom Media, JSC Gazprom-Media Holding and JSC SOGAZ. He serves as the Chairman of JSC SOGAZ. Since 2000, he served as Deputy Minister of Energy of the Russian Federation. Since 1990, he was junior researcher, Leningrad Finance and Economics Institute and Section Head, Economic Reform Committee, Executive Committee of the Leningrad City Council. Mr. Miller was awarded with 4th Degree Order for the Outstanding Services to the Fatherland, the Medal of the Outstanding Services to the Fatherland II Degree Order, II Class Order of the Hungarian Republic Cross for his outstanding services to the energy cooperation, St. Mesrop Mashtots Order (Republic of Armenia), the Dostyk (Friendship) Order of the 2nd Degree (Republic of Kazakhstan), Sergiy Radonezhsky II Degree Order of the Russian Orthodox Church and Patriarchal Merit Certificate. He serves as Member of Shareholder Committee at Nord Stream AG. He graduated from high school in 1979 and became a student of N. A. Voznesenskii Leningrad Finance and Economics Institute. Mr. Miller holds post-graduate at N. A. Voznesenskii Leningrad Finance and Economics Institute from 1986 to 1989 and obtained Ph. D. in Economics degree in 1989.
CEO Compensation
- Insufficient data for Alexei to compare compensation growth.
- Insufficient data for Alexei to establish whether their remuneration is reasonable compared to companies of similar size in .
Management Team Tenure
Average tenure and age of the Gazprom management team in years:
- The tenure for the Gazprom management team is about average.
Management Team
Alexei Miller
Chairman of Management Committee & Deputy Chairman
56
Famil Kamil Sadygov
Deputy Chairman of Management Committee
50
0.1 yrs
Elena Vasilieva
Deputy Chairwoman of the Management Committee & Chief Accountant
59
17.7 yrs
Mikhail Sereda
Deputy Chairman of Mgmt. Committee
48
Ivan Khromushin
Head of Investors Relations Division
4.5 yrs
Alexander Bespalov
Head of Department 106
68
4.3 yrs
Sergey Khomyakov
Deputy Chairman of Mgmt. Committee & Director General of Corporate Security Svc Branch - Moscow
65
12.3 yrs
Elena Lobatcheva
Deputy Head of Information For Gazprom Stockholders
Oleg Aksyutin
Deputy CEO & Head of Department 623
51
10.6 yrs
Kasyan Kasyanova
Head of Department 715
57
4.3 yrs
Board of Directors Tenure
Average tenure and age of the Gazprom board of directors in years:
- The tenure for the Gazprom board of directors is about average.
Board of Directors
Victor Zubkov
Chairman
77
10.9 yrs
Alexei Miller
Chairman of Management Committee & Deputy Chairman
56
16.9 yrs
Mikhail Sereda
Deputy Chairman of Mgmt. Committee
48
17.3 yrs
Vitaly Markelov
Deputy Chairman of the Management Committee & Director
55
7.3 yrs
Karen Oganyan
Head of Department 822 & Member of Audit Commission
44
Margarita Mironova
First Deputy Head of Mgmt Committee Admin
Victor Martynov
Independent Director
65
6.3 yrs
Timur Kulibaev
Independent Director
52
7.9 yrs
Andrei Akimov
Director
65
7.9 yrs
Vladimir Mau
Independent Director
59
7.9 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (RUB) | Value (RUB) | |
|---|---|---|---|---|---|---|---|---|---|---|
Management checks
We assess Gazprom's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Gazprom has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
GAZP News
Simply Wall St News
Do Directors Own Public Joint Stock Company Gazprom (MCX:GAZP) Shares?
Every investor in Public Joint Stock Company Gazprom (MCX:GAZP) should be aware of the most powerful shareholder groups. … Our most recent data indicates that insiders own less than 1% of Public Joint Stock Company Gazprom. … Private Company Ownership We can see that Private Companies own 13%, of the shares on issue.
Simply Wall St - – Full articleDo Institutions Own Shares In Public Joint Stock Company Gazprom (MCX:GAZP)?
If you want to know who really controls Public Joint Stock Company Gazprom (MCX:GAZP), then you'll have to look at the makeup of its share registry. … Gazprom is a pretty big company. … Our analysis of the ownership of the company, below, shows that.
Simply Wall St - – Full articleEstimating The Intrinsic Value Of Public Joint Stock Company Gazprom (MCX:GAZP)
I will use the Discounted Cash Flow (DCF) model. … If you want to learn more about discounted cash flow, the rationale behind this calculation can be read in detail in the Simply Wall St analysis model? … The first stage is generally a higher growth period which levels off heading towards the terminal value, captured in the second 'steady growth' period.
Simply Wall St - – Full articleIs Public Joint Stock Company Gazprom (MCX:GAZP) An Attractive Dividend Stock?
Historically, Public Joint Stock Company Gazprom (MCX:GAZP) has paid a dividend to shareholders. … Let's take a look at Gazprom in more detail. … View our latest analysis for Gazprom
Simply Wall St - – Full articleHere's What Public Joint Stock Company Gazprom's (MCX:GAZP) P/E Ratio Is Telling Us
To keep it practical, we'll show how Public Joint Stock Company Gazprom's (MCX:GAZP) P/E ratio could help you assess the value on offer. … Based on the last twelve months, Gazprom's P/E ratio is 2.97. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)
Simply Wall St - – Full articlePublic Joint Stock Company Gazprom (MCX:GAZP): What We Can Expect From This Growth Stock
After Public Joint Stock Company Gazprom's (MCX:GAZP) earnings announcement in March 2018, … with earnings expected to grow by a high double-digit of 58.9% in the upcoming year, … 5-year average growth rate of -10.9%.
Simply Wall St - – Full articleWhy Public Joint Stock Company Gazprom (MCX:GAZP) Could Be Your Next Investment
As an investor, I look for investments which does not compromise one fundamental factor for another. … By this I mean, I look at stocks holistically, from their financial health to their future outlook. … is a company that has been able to sustain great financial health, trading at an attractive share price.
Simply Wall St - – Full articleDoes Public Joint Stock Company Gazprom's (MCX:GAZP) PE Ratio Warrant A Buy?
I am writing today to help inform people who are new to the stock market. … and want to learn about the link between company’s fundamentals and stock market performance. … While this makes GAZP appear like a great stock to buy, you might change your mind after I explain the assumptions behind the P/E ratio.
Simply Wall St - – Full articleWho Are Public Joint Stock Company Gazprom's (MCX:GAZP) Major Shareholders?
In this analysis, my focus will be on developing a perspective on Public Joint Stock Company Gazprom’s (MCX:GAZP) latest ownership structure, a less discussed, but important factor. … A company's ownership structure is often linked to its share performance in both the long- and short-term. … If an activist institution invests the same amount of capital in a stock as a passive long-term pension fund, the implications are potentially different for key corporate financing decisions such as the use of excess cash or the source of financing.
Simply Wall St - – Full articleWill Public Joint Stock Company Gazprom (MCX:GAZP) Continue To Underperform Its Industry?
and want a simplistic look at the return on Public Joint Stock Company Gazprom (MCX:GAZP) stock. … Public Joint Stock Company Gazprom (MCX:GAZP) delivered a less impressive 6.51% ROE over the past year, compared to the 13.40% return generated by its industry. … Knowing these components can change your views on GAZP's below-average returns.
Simply Wall St - – Full articleGAZP Company Info
Description
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. The company operates through Production of Gas, Transportation, Distribution of Gas, Gas Storage, Production of Crude Oil and Gas Condensate, Refining, and Electric and Heat Energy Generation and Sales segments. It also produces coalbed methane; and owns Unified Gas Supply System, a gas transmission system totaling approximately 172.1 thousand kilometers that comprises 254 compressor stations with a total capacity of 46.7 thousand megawatts in Russia. In addition, the company operates underground gas storage facilities; operates oil refining and petrochemical complexes; generates and sells electric and heat energy; and produces and markets liquefied natural gas. Public Joint Stock Company Gazprom was founded in 1993 and is headquartered in Moscow, Russia.
Details
| Name: | Public Joint Stock Company Gazprom |
| GAZP | |
| Exchange: | MISX |
| Founded: | 1993 |
| RUB4,524,971,500,000 | |
| 22,127,000,000 | |
| Website: | http://www.gazprom.com |
| Address: |
Public Joint Stock Company Gazprom 16 Nametkina Street, GSP-7, Moscow, 117997, Russia |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| MISX | GAZP | Ordinary Shares | Micex - Rts | RU | RUB | 01. Feb 1995 | |
| KAS | RU_GAZP | Ordinary Shares | Kazakhstan Stock Exchange | KZ | KZT | 01. Feb 1995 | |
| LSE | OGZD | SPON ADR-EACH REPR 2 ORD SHS | London Stock Exchange | GB | USD | 29. Oct 1996 | |
| BASE | OGZD | CEDEAR EACH REPR 2 ADR RUB5 | Buenos Aires Stock Exchange | AR | ARS | 17. Jan 2008 | |
| OTCPK | OGZP.Y | SPON ADR-EACH REPR 2 ORD SHS | Pink Sheets LLC | US | USD | 29. Oct 1996 | |
| DB | GAZ | SPON ADR-EACH REPR 2 ORD SHS | Deutsche Boerse AG | DE | EUR | 29. Oct 1996 | |
| XTRA | GAZ | SPON ADR-EACH REPR 2 ORD SHS | XETRA Trading Platform | DE | EUR | 29. Oct 1996 | |
| WBAG | OGZD | SPON ADR-EACH REPR 2 ORD SHS | Wiener Boerse AG | AT | EUR | 29. Oct 1996 | |
| BMV | OGZD N | SPON ADR-EACH REPR 2 ORD SHS | Bolsa Mexicana de Valores | MX | MXN | 29. Oct 1996 | |
| MISX | OGZD | SPON ADR-EACH REPR 2 ORD SHS | Micex - Rts | RU | USD | 29. Oct 1996 | |
| BATS-CHIXE | OGZDL | SPON ADR-EACH REPR 2 ORD SHS | BATS 'Chi-X Europe' | GB | USD | 29. Oct 1996 |
Number of employees
Current staff
Industry
| Integrated Oil and Gas | |
| Energy |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/05/26 21:26 |
| End of day share price update: | 2019/05/24 00:00 |
| Last estimates confirmation: | 2019/05/24 |
| Last earnings filing: | 2019/04/29 |
| Last earnings reported: | 2018/12/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
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.
