Financials Gazprom Kazakhstan S.E.

Equities

RU_GAZP

RU0007661625

Integrated Oil & Gas

End-of-day quote Kazakhstan S.E. 06:00:00 2022-02-27 pm EST 5-day change 1st Jan Change
1,672 KZT +9.56% Intraday chart for Gazprom -.--% -.--%

Valuation

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Capitalization 1 3,392,350 5,851,048 5,028,951 8,116,688 4,681,614 4,681,614
Enterprise Value (EV) 1 5,583,754 8,559,617 9,109,726 11,043,315 8,810,487 10,115,204
P/E ratio 2.33 x 4.8 x 37.6 x 3.9 x 3.87 x -7.18 x
Yield 10.8% 5.94% 5.9% 15.3% 25.8% -
Capitalization / Revenue 0.41 x 0.76 x 0.8 x 0.79 x 0.4 x 0.55 x
EV / Revenue 0.68 x 1.12 x 1.44 x 1.08 x 0.75 x 1.18 x
EV / EBITDA 2.07 x 4.21 x 6.74 x 3.02 x 2.28 x 6.57 x
EV / FCF 233 x -18.6 x -14.9 x 18.8 x -39.4 x -54 x
FCF Yield 0.43% -5.39% -6.73% 5.32% -2.54% -1.85%
Price to Book 0.26 x 0.43 x 0.36 x 0.51 x 0.3 x 0.31 x
Nbr of stocks (in thousands) 22,100,000 22,820,000 23,644,513 23,644,513 23,644,513 23,644,513
Reference price 2 153.5 256.4 212.7 343.3 198.0 198.0
Announcement Date 4/29/19 4/29/20 4/29/21 4/28/22 4/24/23 5/2/24
1RUB in Million2RUB
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net sales 1 8,224,177 7,659,623 6,321,559 10,241,353 11,673,950 8,541,818
EBITDA 1 2,702,708 2,031,343 1,350,892 3,660,200 3,859,282 1,538,635
EBIT 1 2,038,094 1,349,947 575,427 2,869,328 2,946,734 557,271
Operating Margin 24.78% 17.62% 9.1% 28.02% 25.24% 6.52%
Earnings before Tax (EBT) 1 1,852,562 1,627,065 133,469 2,769,514 2,190,558 -659,070
Net income 1 1,456,270 1,202,887 135,341 2,093,071 1,225,807 -629,085
Net margin 17.71% 15.7% 2.14% 20.44% 10.5% -7.36%
EPS 2 65.89 53.46 5.660 88.07 51.11 -27.58
Free Cash Flow 1 23,920 -461,147 -613,430 587,399 -223,893 -187,275
FCF margin 0.29% -6.02% -9.7% 5.74% -1.92% -2.19%
FCF Conversion (EBITDA) 0.89% - - 16.05% - -
FCF Conversion (Net income) 1.64% - - 28.06% - -
Dividend per Share 2 16.61 15.24 12.55 52.53 51.03 -
Announcement Date 4/29/19 4/29/20 4/29/21 4/28/22 4/24/23 5/2/24
1RUB in Million2RUB
Estimates

Balance Sheet Analysis

Fiscal Period: December 2018 2019 2020 2021 2022 2023
Net Debt 1 2,191,404 2,708,569 4,080,775 2,926,627 4,128,873 5,433,590
Net Cash position 1 - - - - - -
Leverage (Debt/EBITDA) 0.8108 x 1.333 x 3.021 x 0.7996 x 1.07 x 3.531 x
Free Cash Flow 1 23,921 -461,147 -613,430 587,399 -223,893 -187,275
ROE (net income / shareholders' equity) 11.9% 8.94% 1.1% 13.6% 7.87% -3.54%
ROA (Net income/ Total Assets) 6.52% 3.95% 1.59% 7.12% 6.93% 1.27%
Assets 1 22,321,393 30,433,574 8,511,477 29,411,936 17,696,584 -49,530,352
Book Value Per Share 2 601.0 597.0 594.0 674.0 653.0 631.0
Cash Flow per Share 2 38.40 29.40 43.80 85.20 49.00 60.30
Capex 1 1,774,360 1,898,771 1,655,641 2,085,381 2,374,311 2,726,844
Capex / Sales 21.57% 24.79% 26.19% 20.36% 20.34% 31.92%
Announcement Date 4/29/19 4/29/20 4/29/21 4/28/22 4/24/23 5/2/24
1RUB in Million2RUB
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Annual profits - Rate of surprise

1st Jan change Capi.
-16.06% 1,786B
+15.14% 453B
+53.10% 236B
+10.21% 227B
+1.19% 154B
+2.18% 90.92B
-5.65% 82.48B
-6.48% 48.83B
+22.85% 48.69B
Integrated Oil & Gas