MISX:GAZP

Stock Analysis Report

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Executive Summary

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. More Details


Snowflake Analysis

Established dividend payer and good value.


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

0.5%

GAZP

0.4%

RU Oil and Gas

0.9%

RU Market


1 Year Return

-33.3%

GAZP

-30.7%

RU Oil and Gas

-11.6%

RU Market

Return vs Industry: GAZP underperformed the Russian Oil and Gas industry which returned -30.7% over the past year.

Return vs Market: GAZP underperformed the Russian Market which returned -11.6% over the past year.


Shareholder returns

GAZPIndustryMarket
7 Day0.5%0.4%0.9%
30 Day-7.3%-5.1%-3.9%
90 Day-11.2%-12.0%-4.9%
1 Year-27.6%-33.3%-25.5%-30.7%-5.6%-11.6%
3 Year61.5%30.7%42.0%16.5%41.6%17.8%
5 Year69.3%21.3%72.2%29.6%100.0%52.9%

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?

12.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: GAZP (RUB164.66) is trading below our estimate of fair value (RUB187.2)

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 poor value based on its PE Ratio (9.6x) compared to the RU Oil and Gas industry average (8.2x).

PE vs Market: GAZP is good value based on its PE Ratio (9.6x) compared to the Russian market (10.2x).


Price to Earnings Growth Ratio

PEG Ratio: GAZP is good value based on its PEG Ratio (0.2x)


Price to Book Ratio

PB vs Industry: GAZP is good value based on its PB Ratio (0.3x) compared to the RU Oil and Gas industry average (0.5x).


Next Steps

Future Growth

How is Gazprom forecast to perform in the next 1 to 3 years based on estimates from 14 analysts?

49.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: GAZP's forecast earnings growth (49.5% per year) is above the savings rate (8.3%).

Earnings vs Market: GAZP's earnings (49.5% per year) are forecast to grow faster than the Russian market (26.1% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: GAZP's revenue (11.2% per year) is forecast to grow faster than the Russian market (8.1% per year).

High Growth Revenue: GAZP's revenue (11.2% 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 (7.2%).


Next Steps

Past Performance

How has Gazprom performed over the past 5 years?

13.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: GAZP has a large one-off loss of RUB132.0B impacting its June 30 2020 financial results.

Growing Profit Margin: GAZP's current net profit margins (6.2%) are lower than last year (19.9%).


Past Earnings Growth Analysis

Earnings Trend: GAZP's earnings have grown by 13.5% per year over the past 5 years.

Accelerating Growth: GAZP's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: GAZP had negative earnings growth (-75.9%) over the past year, making it difficult to compare to the Oil and Gas industry average (-45.3%).


Return on Equity

High ROE: GAZP's Return on Equity (3%) is considered low.


Next Steps

Financial Health

How is Gazprom's financial position?


Financial Position Analysis

Short Term Liabilities: GAZP's short term assets (RUB3,511.0B) exceed its short term liabilities (RUB2,367.5B).

Long Term Liabilities: GAZP's short term assets (RUB3,511.0B) do not cover its long term liabilities (RUB5,381.9B).


Debt to Equity History and Analysis

Debt Level: GAZP's debt to equity ratio (30.6%) is considered satisfactory.

Reducing Debt: GAZP's debt to equity ratio has increased from 24.4% to 30.6% over the past 5 years.

Debt Coverage: GAZP's debt is well covered by operating cash flow (27.7%).

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


Balance Sheet


Next Steps

Dividend

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

9.25%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: GAZP's dividend (9.26%) is higher than the bottom 25% of dividend payers in the Russian market (3.97%).

High Dividend: GAZP's dividend (9.26%) is in the top 25% of dividend payers in the Russian market (8.69%)


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: At its current payout ratio (88.7%), GAZP's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: GAZP's dividends in 3 years are forecast to be well covered by earnings (46.9% payout ratio).


Next Steps

Management

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

5.8yrs

Average management tenure


CEO

Alexei Miller (58 yo)

no data

Tenure

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 ...


Leadership Team

NamePositionTenureCompensationOwnership
Alexey Miller
Chairman of Management Committee & Deputy Chairmanno datano data0.00096%
RUB 37.4m
Famil Kamil Sadygov
Deputy Chairman of Management Committee1.5yrsno data0.00020%
RUB 7.8m
Mikhail Rosseyev
Chief Accountant0.67yrno data0.00023%
RUB 9.0m
Vyacheslav Koptelov
Head of Management Committee Administration0.67yrno datano data
Ivan Khromushin
Head of Investors Relations Division5.92yrsno datano data
Sergey Kuznets
Head of Department (Legal Support) & Member of Management Committee1.5yrsno data0.0022%
RUB 85.7m
Mikhail Sereda
Executive Director18.75yrsno data0.00023%
RUB 9.0m
Sergey Khomyakov
Deputy Chairman of Mgmt. Committee & Director General of Corporate Security Service Branch13.67yrsno data0.00023%
RUB 9.0m
Elena Lobatcheva
Deputy Head of Information For Gazprom Stockholdersno datano datano data
Oleg Aksyutin
Deputy CEO & Head of Department 62312yrsno data0.00022%
RUB 8.6m
Elena Kasyanova
Head of Department 7155.75yrsno datano data
Denis Fedorov
Head of Electricity Sector Development & Mktg Office & General Director of Gazprom Energoholing LLC11.58yrsno datano data

5.8yrs

Average Tenure

52yo

Average Age

Experienced Management: GAZP's management team is seasoned and experienced (5.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Alexey Miller
Chairman of Management Committee & Deputy Chairmanno datano data0.00096%
RUB 37.4m
Mikhail Sereda
Executive Director18.75yrsno data0.00023%
RUB 9.0m
Vitaly Markelov
Deputy Chairman of the Management Committee & Director8.75yrsno data0.0062%
RUB 241.9m
Andrey Akimov
Non-Executive Director9.33yrsno datano data
Timur Kulibaev
Independent Director9.33yrsno datano data
Denis Manturov
Non-Executive Director3.25yrsno datano data
Vladimir Mau
Independent Director9.33yrsno datano data
Viktor Zubkov
Non-Executive Chairman12.33yrsno datano data
Victor Martynov
Independent Director7.75yrsno datano data
Tatyana Fisenko
Member of Audit Commissionno datano datano data
Alexander Novak
Non-Executive Director5.33yrsno datano data
Dmitry Patrushev
Non-Executive Director4.33yrsno data0.0010%
RUB 39.3m

9.3yrs

Average Tenure

57.5yo

Average Age

Experienced Board: GAZP's board of directors are considered experienced (9.3 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 been diluted in the past year, with total shares outstanding growing by 7%.


Top Shareholders

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: ₽3.895t
  • Shares outstanding: 23.64b
  • 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
OGZP.YOTCPK (Pink Sheets LLC)SPON ADRUSUSDOct 1996
OGZDLSE (London Stock Exchange)SPON ADRGBUSDOct 1996
GAZDB (Deutsche Boerse AG)SPON ADRDEEUROct 1996
GAZXTRA (XETRA Trading Platform)SPON ADRDEEUROct 1996
OGZDLBATS-CHIXE (BATS 'Chi-X Europe')SPON ADRGBUSDOct 1996
OGZD NBMV (Bolsa Mexicana de Valores)SPON ADRMXMXNOct 1996
OGZDWBAG (Wiener Boerse AG)SPON ADRATEUROct 1996
OGZDBASE (Buenos Aires Stock Exchange)CEDEAR EACH REPR 2 ADR RUB5ARARSJan 2008

Biography

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 ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/23 21:32
End of Day Share Price2020/10/23 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.