Company Valuation: Gazprom

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 50,28,951 81,16,688 46,81,614 46,81,614 46,81,614 46,81,614
Change - 61.4% -42.32% 0% 0% 0%
Enterprise Value (EV) 1 91,09,726 1,10,43,315 88,10,487 1,01,15,204 1,08,69,204 1,11,79,254
Change - 21.23% -20.22% 14.81% 7.45% 2.85%
P/E 37.6x 3.9x 3.87x -7.18x 4.03x 3.77x
PBR 0.36x 0.51x 0.3x 0.31x 0.29x 0.27x
PEG - 0x -0.1x 0x -0x 0.54x
Capitalization / Revenue 0.8x 0.79x 0.4x 0.55x 0.44x 0.48x
EV / Revenue 1.44x 1.08x 0.75x 1.18x 1.01x 1.14x
EV / EBITDA 6.74x 3.02x 2.28x 6.57x 3.54x 3.77x
EV / EBIT 15.8x 3.85x 2.99x 18.2x 6.29x 7.04x
EV / FCF -14.9x 18.8x -39.4x -54x -23.9x -12x
FCF Yield -6.73% 5.32% -2.54% -1.85% -4.19% -8.33%
Dividend per Share 2 12.55 52.53 51.03 - - -
Rate of return 5.9% 15.3% 25.8% - - -
EPS 2 5.66 88.07 51.11 -27.58 49.15 52.57
Distribution rate 222% 59.6% 99.9% - - -
Net sales 1 63,21,559 1,02,41,353 1,16,73,950 85,41,818 1,07,14,686 97,70,671
EBITDA 1 13,50,892 36,60,200 38,59,282 15,38,635 30,72,262 29,64,405
EBIT 1 5,75,427 28,69,328 29,46,734 5,57,271 17,26,973 15,87,238
Net income 1 1,35,341 20,93,071 12,25,807 -6,29,085 12,18,543 13,06,777
Net Debt 1 40,80,775 29,26,627 41,28,873 54,33,590 61,87,590 64,97,640
Reference price 2 212.69 343.28 198.00 198.00 198.00 198.00
Nbr of stocks (in thousands) 2,36,44,513 2,36,44,513 2,36,44,513 2,36,44,513 2,36,44,513 2,36,44,513
Announcement Date 29/04/21 28/04/22 24/04/23 02/05/24 30/04/25 29/04/26
1RUB in Million2RUB
Estimates

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 5.55TCr
21.1x3.28x14.17x5.17% 1.61TCr
11.86x7.08x9.25x5.48% 1.02TCr
13.93x5.79x20.59x9.53% 836.71Cr
10.16x0.51x4.23x5.63% 795.46Cr
9.15x0.19x2.33x5.49% 761.58Cr
12.5x - - 4.25% 756.31Cr
7.44x0.49x4.62x6.78% 667.09Cr
20.86x5.48x11.64x2.78% 667.15Cr
15.56x4.45x12.71x3.45% 563.55Cr
Average 13.62x 3.41x 9.94x 5.4% 1.32TCr
Weighted average by Cap. 14.31x 3.53x 10.49x 5.48%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA