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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 18.4% lower compared to the last 12 months (LTM)
  • Prices of Brent oil are at 12.6% percentile over the past 5 years, adjusted for inflation
  • Dividend yield for the last twelve months 17.2%
  • Free cash flow yield 9.2% (LTM), projected -7.8%
  • Share of USD-denominated sales in revenue of the company (estimate) 74.7%
  • Share price is 73.8% higher than minimum and 24.5% lower than maximum for the last 3 years
  • The company is undervalued by EV / LTM EBITDA multiple compared to target level (1.7x vs
    )
  • The company is overvalued by EV / projected EBITDA multiple compared to target level (
    vs
    )
  • Taking into account the impact of the key rate 20.0% on the change in financial parameters: EBITDA adjustment is 41 149 mln rub as NetDebt * (current key rate - normalized 7%) / 2, expected EBITDA adjusted for key rate increases is 962 973 mln rub, expected mult is 3.5x, target mult is 2.0x, potential is -37.0%

Key Financials (Download financials)

Ticker: LKOH
Share price, RUB:  (+0.2%)6151.5
year average price 6824  


year start price 7201 2024-07-06

min close price 6115 2024-09-02

max close price 7785 2025-02-17

current price 6152 2025-07-05
Common stocks: 658 226 500
Dividend Yield:  17.2%
FCF Yield LTM / expected: 9.2% / -7.8%
EV / LTM EBITDA:1.7x
EV / EBITDA annualized: 2.0x
Production prices change from LTM: -18.4%
EV / projected EBITDA:
Target EV / EBITDA (hist percentile):
Express share price potential:
EV / LTM EBITDA mutiple calculation
Market Cap (m RUB): 4 049 080
Net Debt (m RUB): -1 080 500
EV (Enterprise Value): 2 968 580
EBITDA LTM (m RUB): 1 785 263
Net Income LTM (m RUB): 985 495
EV / LTM EBITDA: 1.7x
Net Debt / LTM EBITDA (if EBITDA > 0): -0.6x
Average daily trading volume for the week, RUB mln: 3119
P / E 4.3x
P / E ann-d5.0x
P / B 0.6x
EBITDA margin ann-d 18.7%
Net income margin ann-d 9.9%

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