MISX:LKOH

Stock Analysis Report

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Executive Summary

PJSC LUKOIL, together with its subsidiaries, engages in exploration, production, refining, marketing, and distribution of oil and gas.


Snowflake Analysis

Flawless balance sheet established dividend payer.


Similar Companies

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

3.7%

LKOH

4.2%

RU Oil and Gas

3.9%

RU Market


1 Year Return

8.8%

LKOH

-2.6%

RU Oil and Gas

2.3%

RU Market

Return vs Industry: LKOH exceeded the Russian Oil and Gas industry which returned -5% over the past year.

Return vs Market: LKOH exceeded the Russian Market which returned 1.3% over the past year.


Shareholder returns

LKOHIndustryMarket
7 Day3.7%4.2%3.9%
30 Day14.5%9.9%6.7%
90 Day-5.3%-3.5%-1.9%
1 Year15.5%8.8%4.5%-2.6%9.1%2.3%
3 Year144.6%105.2%89.7%57.9%65.3%39.0%
5 Year195.4%117.5%107.6%59.4%120.6%71.9%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

5.76x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: LKOH (RUB5400) is trading above our estimate of fair value (RUB4795.96)

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


Price To Earnings Ratio

PE vs Industry: LKOH is poor value based on its PE Ratio (5.6x) compared to the Oil and Gas industry average (5.6x).

PE vs Market: LKOH is good value based on its PE Ratio (5.6x) compared to the Russian market (8.5x).


Price to Earnings Growth Ratio

PEG Ratio: LKOH is poor value based on its PEG Ratio (1.6x)


Price to Book Ratio

PB vs Industry: LKOH is overvalued based on its PB Ratio (0.9x) compared to the RU Oil and Gas industry average (0.6x).


Next Steps

Future Growth

How is PJSC LUKOIL forecast to perform in the next 1 to 3 years based on estimates from 17 analysts?

4.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: LKOH's forecast earnings growth (3.5% per year) is below the savings rate (8.3%).

Earnings vs Market: LKOH's earnings (3.5% per year) are forecast to grow slower than the Russian market (12% per year).

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

Revenue vs Market: LKOH's revenue (3.6% per year) is forecast to grow slower than the Russian market (5.9% per year).

High Growth Revenue: LKOH's revenue (3.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: LKOH's Return on Equity is forecast to be low in 3 years time (11%).


Next Steps

Past Performance

How has PJSC LUKOIL performed over the past 5 years?

20.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: LKOH has high quality earnings.

Growing Profit Margin: LKOH's current net profit margins (8.2%) are higher than last year (7.7%).


Past Earnings Growth Analysis

Earnings Trend: LKOH's earnings have grown significantly by 20.3% per year over the past 5 years.

Accelerating Growth: LKOH's earnings growth over the past year (3.4%) is below its 5-year average (20.3% per year).

Earnings vs Industry: LKOH earnings growth over the past year (3.4%) exceeded the Oil and Gas industry -17.4%.


Return on Equity

High ROE: LKOH's Return on Equity (16.2%) is considered low.


Next Steps

Financial Health

How is PJSC LUKOIL's financial position?


Financial Position Analysis

Short Term Liabilities: LKOH's short term assets (RUB1,554.2B) exceed its short term liabilities (RUB1,207.7B).

Long Term Liabilities: LKOH's short term assets (RUB1,554.2B) exceed its long term liabilities (RUB765.9B).


Debt to Equity History and Analysis

Debt Level: LKOH's debt to equity ratio (9.6%) is considered satisfactory.

Reducing Debt: LKOH's debt to equity ratio has reduced from 24.6% to 9.6% over the past 5 years.

Debt Coverage: LKOH's debt is well covered by operating cash flow (302%).

Interest Coverage: LKOH's interest payments on its debt are well covered by EBIT (42.3x coverage).


Balance Sheet


Next Steps

Dividend

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

9.77%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: LKOH's dividend (10.04%) is higher than the bottom 25% of dividend payers in the Russian market (3.6%).

High Dividend: LKOH's dividend (10.04%) is in the top 25% of dividend payers in the Russian market (9.01%)


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (56.3%), LKOH's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: LKOH's dividends in 3 years are forecast to be covered by earnings (71.6% payout ratio).


Next Steps

Management

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

4.0yrs

Average board tenure


CEO

Vagit Alekperov (69yo)

no data

Tenure

Mr. Vagit Usufovich Alekperov serves as the President & Director of PJSC LUKOIL (formerly, OAO LUKOIL) since 1993 and also serves as its Chief Executive Officer. Mr. Alekperov served as the President of OO ...


Board Members

NamePositionTenureCompensationOwnership
Vagit Alekperov
CEO, Presidentno datano data32.85% RUB1.1t
Ravil Maganov
Deputy Chairman4yrsno data0.52% RUB18.2b
Leonid Fedun
VP of Strategic Development & Executive Director7yrsno data10.19% RUB356.8b
Lyubov Khoba
Non-Executive Director3yrsno data0.48% RUB17.0b
Pavel Teplukhin
Director1yrno datano data
Victor Blazheev
Independent Director11yrsno datano data
Roger Munnings
Independent Director5yrsno datano data
Pavel Suloev
Chairman of Audit Commissionno datano datano data
Toby Gati
Independent Director4yrsno datano data
Sergei Shatalov
Director1yrno datano data

4.0yrs

Average Tenure

64yo

Average Age

Experienced Board: LKOH's board of directors are considered experienced (4 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: LKOH insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

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


Key Information

  • Name: PJSC LUKOIL
  • Ticker: LKOH
  • Exchange: MISX
  • Founded: 1993
  • Industry: Integrated Oil and Gas
  • Sector: Energy
  • Market Cap: ₽3.500t
  • Shares outstanding: 630.75m
  • Website: https://www.lukoil.com

Location

  • PJSC LUKOIL
  • 11, Sretensky Boulevard
  • Moscow
  • 101000
  • Russia

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
LKORLSE (London Stock Exchange)GDR EACH REPR 4 ORD RUB0.025 REG SGBUSDNo data
68FVLSE (London Stock Exchange)GDR EACH REPR 4 ORD RUB0.025 144AGBRUBNo data
LKOELSE (London Stock Exchange)GDR EACH REPR 1 ORD RUB0.025 SPON 144AGBUSDNo data
LKOHLSE (London Stock Exchange)YesCommon StockGBUSDJun 1995
LKOHMISX (Micex - Rts)YesCommon StockRURUBJun 1995
RU_LKOHKAS (Kazakhstan Stock Exchange)YesCommon StockKZKZTJun 1995
LUKO.YOTCPK (Pink Sheets LLC)SPON ADR REP 1 ORD RUB0.025USUSDJan 1996
LKODLSE (London Stock Exchange)SPON ADR REP 1 ORD RUB0.025GBUSDJan 1996
LUKDB (Deutsche Boerse AG)SPON ADR REP 1 ORD RUB0.025DEEURJan 1996
LUKXTRA (XETRA Trading Platform)SPON ADR REP 1 ORD RUB0.025DEEURJan 1996
LKODLBATS-CHIXE (BATS 'Chi-X Europe')SPON ADR REP 1 ORD RUB0.025GBUSDJan 1996
LKOD NBMV (Bolsa Mexicana de Valores)SPON ADR REP 1 ORD RUB0.025MXMXNJan 1996
LKODWBAG (Wiener Boerse AG)SPON ADR REP 1 ORD RUB0.025ATEURJan 1996
LKOD NBMV (Bolsa Mexicana de Valores)ADR EACH REPR 1 ORD RUB0.025 SPONMXRUBOct 2015
LKODLSE (London Stock Exchange)ADR EACH REPR 1 ORD RUB0.025 SPONGBUSDOct 2015

Biography

PJSC LUKOIL, together with its subsidiaries, engages in exploration, production, refining, marketing, and distribution of oil and gas. The company’s Exploration and Production segment explores for, develops, and produces crude oil and gas. Its Refining, Marketing and Distribution segment engages in refining; petrochemical and transport operations; marketing and trading of crude oil, natural gas, and refined products; and generation, transportation, and sale of electricity and heat, as well as provides related services. The company operates a retail network of 5,309 filling stations and 132 oil depots in 18 countries. PJSC LUKOIL was founded in 1993 and is based in Moscow, Russia. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/03 22:45
End of Day Share Price2020/06/03 00:00
Earnings2019/12/31
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.