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NVTK

PAO NOVATEK MISX:NVTK Stock Report

Last Price

₽993.00

Market Cap

₽1.0t

7D

0%

1Y

-44.4%

Updated

17 Aug, 2022

Data

Company Financials +
NVTK fundamental analysis
Snowflake Score
Valuation5/6
Future Growth3/6
Past Performance6/6
Financial Health6/6
Dividends5/6

NVTK Stock Overview

PAO NOVATEK, an independent oil and gas company, engages in the acquisition, exploration, development, production, processing, marketing, and export of natural gas and liquid hydrocarbons.

PAO NOVATEK Competitors

Price History & Performance

Summary of all time highs, changes and price drops for PAO NOVATEK
Historical stock prices
Current Share PriceUS$993.00
52 Week HighUS$2,025.80
52 Week LowUS$654.00
Beta1.31
1 Month Change0%
3 Month Change-1.76%
1 Year Change-44.39%
3 Year Change-22.19%
5 Year Change64.92%
Change since IPO437.92%

Recent News & Updates

Shareholder Returns

NVTKRU Oil and GasRU Market
7D0%0%0%
1Y-44.4%-29.9%-33.5%

Return vs Industry: NVTK underperformed the Russian Oil and Gas industry which returned -30% over the past year.

Return vs Market: NVTK underperformed the Russian Market which returned -33.7% over the past year.

Price Volatility

Is NVTK's price volatile compared to industry and market?
NVTK volatility
NVTK Average Weekly Movement7.6%
Oil and Gas Industry Average Movement4.7%
Market Average Movement4.9%
10% most volatile stocks in RU Market8.7%
10% least volatile stocks in RU Market2.9%

Stable Share Price: NVTK is more volatile than 75% of Russian stocks over the past 3 months, typically moving +/- 8% a week.

Volatility Over Time: NVTK's weekly volatility (8%) has been stable over the past year, but is still higher than 75% of Russian stocks.

About the Company

FoundedEmployeesCEOWebsite
1994n/aLeonid Mikhelsonhttps://www.novatek.ru

PAO NOVATEK, an independent oil and gas company, engages in the acquisition, exploration, development, production, processing, marketing, and export of natural gas and liquid hydrocarbons. The company principally holds interests in reserves located in the Yamal-Nenets Autonomous Region, Western Siberia. It sells natural gas, stable gas condensate, gas condensate refined products, liquefied petroleum gas, crude oil, naphtha, diesel fuel, jet fuel, methanol, and petrol.

PAO NOVATEK Fundamentals Summary

How do PAO NOVATEK's earnings and revenue compare to its market cap?
NVTK fundamental statistics
Market Cap₽1.00t
Earnings (TTM)₽432.93b
Revenue (TTM)₽1.06t

2.3x

P/E Ratio

0.9x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
NVTK income statement (TTM)
Revenue₽1.06t
Cost of Revenue₽601.18b
Gross Profit₽461.16b
Other Expenses₽28.23b
Earnings₽432.93b

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)1.45k
Gross Margin43.41%
Net Profit Margin40.75%
Debt/Equity Ratio9.4%

How did NVTK perform over the long term?

See historical performance and comparison

Dividends

21.3%

Current Dividend Yield

50%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is NVTK undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for NVTK?

Other financial metrics that can be useful for relative valuation.

NVTK key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1x
Enterprise Value/EBITDA3.3x
PEG Ratio0.2x

Price to Earnings Ratio vs Peers

How does NVTK's PE Ratio compare to its peers?

NVTK PE Ratio vs Peers
The above table shows the PE ratio for NVTK vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average2.9x
SNGS Surgutneftegas
2.3xn/a₽928.7b
SIBN Gazprom Neft
3.7x13.2%₽1.8t
LKOH PJSC LUKOIL
3.3x-4.2%₽2.5t
GAZP Gazprom
2.2xn/a₽4.7t
NVTK PAO NOVATEK
2.3x11.2%₽16.6b

Price-To-Earnings vs Peers: NVTK is good value based on its Price-To-Earnings Ratio (2.3x) compared to the peer average (2.9x).


Price to Earnings Ratio vs Industry

How does NVTK's PE Ratio compare vs other companies in the European Oil and Gas Industry?

Price-To-Earnings vs Industry: NVTK is good value based on its Price-To-Earnings Ratio (2.3x) compared to the Russian Oil and Gas industry average (3.7x)


Price to Earnings Ratio vs Fair Ratio

What is NVTK's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

NVTK PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio2.3x
Fair PE Ratio7x

Price-To-Earnings vs Fair Ratio: NVTK is good value based on its Price-To-Earnings Ratio (2.3x) compared to the estimated Fair Price-To-Earnings Ratio (7x).


Share Price vs Fair Value

What is the Fair Price of NVTK when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: NVTK (RUB993) is trading below our estimate of fair value (RUB5070.11)

Significantly Below Fair Value: NVTK is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.


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Future Growth

How is PAO NOVATEK forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

Future Growth Score

3/6

Future Growth Score 3/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


11.2%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: NVTK's forecast earnings growth (11.2% per year) is above the savings rate (7.5%).

Earnings vs Market: NVTK's earnings (11.2% per year) are forecast to grow faster than the Russian market (-1.5% per year).

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

Revenue vs Market: NVTK's revenue (3.3% per year) is forecast to grow faster than the Russian market (2.4% per year).

High Growth Revenue: NVTK's revenue (3.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: NVTK's Return on Equity is forecast to be low in 3 years time (19.9%).


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Past Performance

How has PAO NOVATEK performed over the past 5 years?

Past Performance Score

6/6

Past Performance Score 6/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


10.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: NVTK has high quality earnings.

Growing Profit Margin: NVTK's current net profit margins (40.8%) are higher than last year (10.3%).


Past Earnings Growth Analysis

Earnings Trend: NVTK's earnings have grown by 10% per year over the past 5 years.

Accelerating Growth: NVTK's earnings growth over the past year (538.2%) exceeds its 5-year average (10% per year).

Earnings vs Industry: NVTK earnings growth over the past year (538.2%) exceeded the Oil and Gas industry 56.4%.


Return on Equity

High ROE: NVTK's Return on Equity (23.6%) is considered high.


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Financial Health

How is PAO NOVATEK's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: NVTK's short term assets (RUB577.1B) exceed its short term liabilities (RUB388.8B).

Long Term Liabilities: NVTK's short term assets (RUB577.1B) exceed its long term liabilities (RUB157.4B).


Debt to Equity History and Analysis

Debt Level: NVTK's net debt to equity ratio (3.9%) is considered satisfactory.

Reducing Debt: NVTK's debt to equity ratio has reduced from 32.9% to 9.4% over the past 5 years.

Debt Coverage: NVTK's debt is well covered by operating cash flow (233%).

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


Balance Sheet


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Dividend

What is PAO NOVATEK current dividend yield, its reliability and sustainability?

Dividend Score

5/6

Dividend Score 5/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


21.28%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: NVTK's dividend (21.28%) is higher than the bottom 25% of dividend payers in the Russian market (4.85%).

High Dividend: NVTK's dividend (21.28%) is in the top 25% of dividend payers in the Russian market (13.13%)


Stability and Growth of Payments

Stable Dividend: NVTK's dividends per share have been stable in the past 10 years.

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


Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (49.5%), NVTK's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its high cash payout ratio (100.3%), NVTK's dividend payments are not well covered by cash flows.


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Management

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

6.4yrs

Average management tenure


CEO

Leonid Mikhelson (67 yo)

19.58yrs

Tenure

Mr. Leonid Viktorovich Mikhelson has been the Chairman of Executive Management Board at Joint Stock Company NOVATEK (formerly known as PAO NOVATEK (formerly known as OAO NOVATEK)) since 2003 and serves as...


Leadership Team

Experienced Management: NVTK's management team is seasoned and experienced (6.4 years average tenure).


Board Members

Experienced Board: NVTK's board of directors are not considered experienced ( 2.3 years average tenure), which suggests a new board.


Ownership

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


Insider Trading Volume

Insider Buying: NVTK insiders have bought and sold the same number of shares 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

PAO NOVATEK's employee growth, exchange listings and data sources


Key Information

  • Name: PAO NOVATEK
  • Ticker: NVTK
  • Exchange: MISX
  • Founded: 1994
  • Industry: Integrated Oil and Gas
  • Sector: Energy
  • Implied Market Cap: US$16.615b
  • Listing Market Cap: US$1.005t
  • Shares outstanding: 299.36m
  • Website: https://www.novatek.ru

Location

  • PAO NOVATEK
  • 22-A, Pobedy Street
  • Tarko-Sale
  • Yamalo-Nenetsky AO
  • 629850
  • Russia

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/17 00:00
End of Day Share Price2022/07/08 00:00
Earnings2021/12/31
Annual Earnings2021/12/31


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.