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General information

Largest independent Russian vertically integrated oil&gas producer. Has quite good corporate governance, information disclosure. In addition to paying dividends regularly buys back own shares
  • Current market environment: negative. Prices of Brent oil are 8.0% lower compared to the last 12 months (LTM)
  • Prices of Brent oil are at 26.1% percentile over the past 5 years, adjusted for inflation
  • Dividend yield for the last twelve months 13.1%
  • Free cash flow yield 10.7% (LTM), projected 2.1%
  • Share of USD-denominated sales in revenue of the company (estimate) 74.7%
  • Share price is 117.9% higher than minimum and 5.4% lower than maximum for the last 3 years
  • The company is undervalued by EV / LTM EBITDA multiple compared to target level (2.1x vs
    )
  • The company is overvalued by EV / projected EBITDA multiple compared to target level (
    vs
    )
  • Taking into account the impact of the key rate 21% on the change in financial parameters: EBITDA adjustment is 57 978 mln rub as NetDebt * (current key rate - normalized 7%) / 2, expected EBITDA adjusted for key rate increases is 1 519 262 mln rub, expected mult is 2.8x, target mult is 2.2x, potential is -17.7%

Key Financials (Download financials)

Ticker: LKOH
Share price, RUB:  (-0.1%)7712
year average price 7124  


year start price 7130 2024-02-25

max close price 8152 2024-04-29

min close price 6115 2024-09-02

current price 7712 2025-02-23
Common stocks: 658 226 500
Dividend Yield:  13.1%
FCF Yield LTM / expected: 10.7% / 2.1%
EV / LTM EBITDA: 2.1x
EV / EBITDA annualized: 2.3x
Production prices change from LTM: -8.0%
EV / projected EBITDA:
Target EV / EBITDA (hist percentile):
Express share price potential:
EV / LTM EBITDA mutiple calculation
Market Cap (m RUB): 5 076 243
Net Debt (m RUB): -866 964
EV (Enterprise Value): 4 209 279
EBITDA LTM (m RUB): 2 005 065
Net Income LTM (m RUB): 559 722
EV / LTM EBITDA: 2.1x
Average daily trading volume for the week, RUB mln: 5837
P / E 4.7x
P / B 0.8x

Revenue and EBITDA

Quarterly values (m RUB)

Change (y/y)

Cash Flow

FCF (m RUB), before FX effects elimination

Net Debt / Cash and Equivalents (m RUB)

Share price and dividends (Download history)

Share price

Payment RUB per share

Multiple and potential

EV / LTM EBITDA and 50% percentile

Potential dynamics

Daily trade volumes

Millions of RUB

P/B and P/E multipliers

P / B

P / E

More information for subscribed users:
detailed calculation of
Potential and Created Value,
commodities affecting the company