Company Valuation: LUKOIL

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2023 2024 2025
Market Cap 1 3,372,114 4,274,373 2,707,726 2,707,726 2,650,391
Change - 26.76% - 0% -2.12%
Enterprise Value (EV) 1 3,687,993 4,354,841 1,924,181 1,661,468 2,424,588
Change - 18.08% - -13.65% 45.93%
P/E 230x 5.82x 2.35x 3.18x -2.23x
PBR 0.82x 0.95x 0.42x 0.39x 0.68x
PEG - 0x - -0.1x 0x
Capitalization / Revenue 0.61x 0.46x 0.34x 0.31x 0.7x
EV / Revenue 0.67x 0.47x 0.24x 0.19x 0.64x
EV / EBITDA 5.99x 3.22x 1.01x 1x 2.43x
EV / EBIT 16.1x 4.42x 1.43x 1.46x 7.5x
EV / FCF -35.6x 10.4x - 2.92x 2.14x
FCF Yield -2.81% 9.66% - 34.2% 46.6%
Dividend per Share 2 259 - 945 1,055 -
Rate of return 5.01% - 24.2% 27% -
EPS 2 22.46 1,129 1,668 1,230 -1,751
Distribution rate 1,153% - 56.7% 85.7% -
Net sales 1 5,507,098 9,268,485 7,928,303 8,621,561 3,767,768
EBITDA 1 615,800 1,351,237 1,910,455 1,659,324 997,359
EBIT 1 228,409 985,019 1,350,178 1,141,487 323,082
Net income 1 15,175 773,442 1,154,664 848,514 -1,064,269
Net Debt 1 315,879 80,468 -783,545 -1,046,258 -225,803
Reference price 2 5,168.00 6,570.00 3,911.00 3,911.00 3,911.00
Nbr of stocks (in thousands) 652,499 650,589 692,336 692,336 677,676
Announcement Date 3/10/21 3/2/22 3/12/24 3/24/25 3/20/26
1RUB in Million2RUB
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.76x3.52x6.62x5.32% 1,684B
13.13x1.82x5.96x3.53% 396B
8.58x0.63x3.96x6.12% 298B
8.02x0.88x3.87x3.44% 251B
8.06x1.03x4.3x4.72% 193B
6.44x1.81x2.88x6.86% 160B
3.7x1.54x2.9x8.18% 114B
7.78x0.84x2.06x3.82% 97.95B
8.26x0.79x3.93x4.9% 77.08B
Average 8.64x 1.43x 4.05x 5.21% 363.41B
Weighted average by Cap. 11.42x 2.40x 5.44x 5.12%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA