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PJSC LUKOIL

DB:LUK
Snowflake Description

Very undervalued with flawless balance sheet and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
LUK
DB
RUB3,089B
Market Cap
  1. Home
  2. DE
  3. Energy
Company description

PJSC LUKOIL, together with its subsidiaries, engages in exploration, production, refining, marketing, and distribution of oil and gas. The last earnings update was 20 days ago. More info.


Add to Portfolio Compare Print
  • PJSC LUKOIL has significant price volatility in the past 3 months.
LUK Share Price and Events
7 Day Returns
4.6%
DB:LUK
18.1%
DE Oil and Gas
7.3%
DE Market
1 Year Returns
-36.7%
DB:LUK
21.9%
DE Oil and Gas
-17.7%
DE Market
LUK Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
PJSC LUKOIL (LUK) 4.6% -33.6% -42.7% -36.7% 1.3% 12.7%
DE Oil and Gas 18.1% -15.9% -28.7% 21.9% -25.6% 137.4%
DE Market 7.3% -17.9% -25.8% -17.7% -25.6% -29%
1 Year Return vs Industry and Market
  • LUK underperformed the Oil and Gas industry which returned 21.9% over the past year.
  • LUK underperformed the Market in Germany which returned -17.7% over the past year.
Price Volatility
LUK
Industry
5yr Volatility vs Market

Value

 Is PJSC LUKOIL undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of PJSC LUKOIL to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for PJSC LUKOIL.

DB:LUK Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 13 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.8%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:LUK
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 8.6%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.81
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.808 (1 + (1- 20%) (17.91%))
0.949
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.95
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (0.949 * 8.61%)
7.78%

Discounted Cash Flow Calculation for DB:LUK using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for PJSC LUKOIL is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:LUK DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (RUB, Millions) Source Present Value
Discounted (@ 7.78%)
2020 -138,950.46 Analyst x2 -128,920.01
2021 443,252.07 Analyst x7 381,567.61
2022 466,690.25 Analyst x6 372,743.28
2023 678,938.84 Analyst x3 503,120.61
2024 643,060.70 Analyst x2 442,133.88
2025 619,877.93 Est @ -3.61% 395,428.86
2026 603,509.76 Est @ -2.64% 357,196.22
2027 591,648.49 Est @ -1.97% 324,897.73
2028 582,816.55 Est @ -1.49% 296,944.41
2029 576,044.58 Est @ -1.16% 272,307.59
Present value of next 10 years cash flows RUB3,217,420.00
DB:LUK DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= RUB576,044.58 × (1 + -0.39%) ÷ (7.78% – -0.39%)
RUB7,022,920.73
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= RUB7,022,920.73 ÷ (1 + 7.78%)10
RUB3,319,872.54
DB:LUK Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= RUB3,217,420.00 + RUB3,319,872.54
RUB6,537,292.54
Equity Value per Share
(RUB)
= Total value / Shares Outstanding
= RUB6,537,292.54 / 692.87
RUB9435.15
DB:LUK Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:LUK represents 0.01142x of MISX:LKOH
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.01142x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (RUB) x Listing Adjustment Factor
= RUB 9,435.15 x 0.01142
€107.75
Value per share (EUR) From above. €107.75
Current discount Discount to share price of €50.92
= -1 x (€50.92 - €107.75) / €107.75
52.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price PJSC LUKOIL is available for.
Intrinsic value
>50%
Share price is €50.92 vs Future cash flow value of €107.75
Current Discount Checks
For PJSC LUKOIL to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • PJSC LUKOIL's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • PJSC LUKOIL's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for PJSC LUKOIL's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are PJSC LUKOIL's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:LUK PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in RUB RUB963.28
MISX:LKOH Share Price ** MISX (2020-03-30) in RUB RUB4459
Europe Oil and Gas Industry PE Ratio Median Figure of 105 Publicly-Listed Oil and Gas Companies 5.67x
Germany Market PE Ratio Median Figure of 400 Publicly-Listed Companies 16.36x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of PJSC LUKOIL.

DB:LUK PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= MISX:LKOH Share Price ÷ EPS (both in RUB)

= 4459 ÷ 963.28

4.63x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • PJSC LUKOIL is good value based on earnings compared to the Europe Oil and Gas industry average.
  • PJSC LUKOIL is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does PJSC LUKOIL's expected growth come at a high price?
Raw Data
DB:LUK PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 4.63x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts
5.4%per year
Europe Oil and Gas Industry PEG Ratio Median Figure of 65 Publicly-Listed Oil and Gas Companies 0.17x
Germany Market PEG Ratio Median Figure of 254 Publicly-Listed Companies 1.2x

*Line of best fit is calculated by linear regression .

DB:LUK PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 4.63x ÷ 5.4%

0.85x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • PJSC LUKOIL is good value based on expected growth next year.
Price based on value of assets
What value do investors place on PJSC LUKOIL's assets?
Raw Data
DB:LUK PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in RUB RUB6,073.64
MISX:LKOH Share Price * MISX (2020-03-30) in RUB RUB4459
Germany Oil and Gas Industry PB Ratio Median Figure of 6 Publicly-Listed Oil and Gas Companies 0.94x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.43x
DB:LUK PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= MISX:LKOH Share Price ÷ Book Value per Share (both in RUB)

= 4459 ÷ 6,073.64

0.73x

* Primary Listing of PJSC LUKOIL.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • PJSC LUKOIL is good value based on assets compared to the DE Oil and Gas industry average.
X
Value checks
We assess PJSC LUKOIL's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. PJSC LUKOIL has a total score of 6/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is PJSC LUKOIL expected to perform in the next 1 to 3 years based on estimates from 13 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
5.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is PJSC LUKOIL expected to grow at an attractive rate?
  • PJSC LUKOIL's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • PJSC LUKOIL's earnings growth is positive but not above the Germany market average.
  • PJSC LUKOIL's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:LUK Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:LUK Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts 5.4%
DB:LUK Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 13 Analysts 4.4%
Europe Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 13%
Europe Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 2.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.3%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:LUK Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
All numbers in RUB Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:LUK Future Estimates Data
Date (Data in RUB Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 9,132,073 1,270,324 834,498 2
2023-12-31 9,315,014 1,184,560 770,909 3
2022-12-31 8,475,787 1,261,477 678,675 9
2021-12-31 7,762,816 1,212,502 568,186 13
2020-12-31 5,956,123 918,032 317,117 9
2020-03-30
DB:LUK Past Financials Data
Date (Data in RUB Millions) Revenue Cash Flow Net Income *
2019-12-31 7,841,246 1,151,844 640,178
2019-09-30 7,972,024 1,156,674 679,895
2019-06-30 8,325,588 1,109,952 673,275
2019-03-31 8,256,094 1,082,983 659,352
2018-12-31 8,035,889 1,006,651 619,174
2018-09-30 7,655,124 892,164 580,657
2018-06-30 6,832,722 830,530 494,231
2018-03-31 6,135,834 793,879 465,557
2017-12-31 5,936,705 758,490 418,805
2017-09-30 5,675,177 741,834 344,894
2017-06-30 5,501,181 745,670 302,356
2017-03-31 5,480,970 719,454 226,275

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • PJSC LUKOIL's earnings are expected to grow by 5.4% yearly, however this is not considered high growth (20% yearly).
  • PJSC LUKOIL's revenue is expected to grow by 4.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:LUK Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below

All data from PJSC LUKOIL Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:LUK Future Estimates Data
Date (Data in RUB Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31
2023-12-31 561.46 561.46 561.46 1.00
2022-12-31 842.20 1,058.49 556.10 3.00
2021-12-31 802.33 1,169.38 490.65 6.00
2020-12-31 533.52 650.06 309.43 3.00
2020-03-30
DB:LUK Past Financials Data
Date (Data in RUB Millions) EPS *
2019-12-31 963.28
2019-09-30 1,001.28
2019-06-30 969.23
2019-03-31 937.10
2018-12-31 874.47
2018-09-30 818.30
2018-06-30 696.47
2018-03-31 655.67
2017-12-31 589.14
2017-09-30 484.61
2017-06-30 424.34
2017-03-31 317.39

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • PJSC LUKOIL is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess PJSC LUKOIL's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
PJSC LUKOIL has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has PJSC LUKOIL performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare PJSC LUKOIL's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • PJSC LUKOIL has delivered over 20% year on year earnings growth in the past 5 years.
  • PJSC LUKOIL's 1-year earnings growth is less than its 5-year average (3.4% vs 20.3%)
  • PJSC LUKOIL's earnings growth has exceeded the Europe Oil and Gas industry average in the past year (3.4% vs -4.1%).
Earnings and Revenue History
PJSC LUKOIL's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from PJSC LUKOIL Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:LUK Past Revenue, Cash Flow and Net Income Data
Date (Data in RUB Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 7,841,246.00 640,178.00 206,520.00
2019-09-30 7,972,024.00 679,895.00 198,128.00
2019-06-30 8,325,588.00 673,275.00 217,637.00
2019-03-31 8,256,094.00 659,352.00 209,278.00
2018-12-31 8,035,889.00 619,174.00 196,015.00
2018-09-30 7,655,124.00 580,657.00 201,264.00
2018-06-30 6,832,722.00 494,231.00 179,171.00
2018-03-31 6,135,834.00 465,557.00 177,851.00
2017-12-31 5,936,705.00 418,805.00 177,679.00
2017-09-30 5,675,177.00 344,894.00 173,700.00
2017-06-30 5,501,181.00 302,356.00 183,726.00
2017-03-31 5,480,970.00 226,275.00 191,995.00
2016-12-31 5,227,045.00 206,794.00 204,449.00
2016-09-30 5,193,847.00 95,158.00 203,610.00
2016-06-30 5,348,412.00 228,748.00 199,527.00
2016-03-31 5,486,419.00 229,929.00 204,968.00
2015-12-31 5,749,050.00 291,135.00 197,846.00
2015-09-30 2,473,869.32 374,736.42 85,095.35
2015-06-30 4,316,976.51 334,283.21 135,874.32
2015-03-31 4,870,011.13 398,767.49 139,453.94
2014-12-31 5,504,856.00 395,525.00 158,778.00
2014-09-30 5,880,447.20 228,580.21 188,586.58
2014-06-30 4,976,543.14 246,899.58 156,753.55
2014-03-31 5,042,535.47 245,649.63 161,198.78
2013-12-31 4,647,617.64 257,332.11 146,244.28
2013-09-30 4,585,219.97 339,343.65 138,451.43
2013-06-30 4,606,206.43 357,176.62 137,428.64
2013-03-31 4,274,729.94 304,149.15 129,657.70

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • PJSC LUKOIL has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • PJSC LUKOIL used its assets more efficiently than the Europe Oil and Gas industry average last year based on Return on Assets.
  • PJSC LUKOIL has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess PJSC LUKOIL's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
PJSC LUKOIL has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is PJSC LUKOIL's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up PJSC LUKOIL's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • PJSC LUKOIL is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • PJSC LUKOIL's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of PJSC LUKOIL's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 4.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from PJSC LUKOIL Company Filings, last reported 2 months ago.

DB:LUK Past Debt and Equity Data
Date (Data in RUB Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 3,973,449.00 381,352.00 558,924.00
2019-09-30 4,150,109.00 450,856.00 483,739.00
2019-06-30 3,874,952.00 444,444.00 537,620.00
2019-03-31 4,056,784.00 459,650.00 471,605.00
2018-12-31 4,073,526.00 509,074.00 499,842.00
2018-09-30 3,962,075.00 565,361.00 412,536.00
2018-06-30 3,730,454.00 542,279.00 372,458.00
2018-03-31 3,596,403.00 609,390.00 343,963.00
2017-12-31 3,490,399.00 616,360.00 349,951.00
2017-09-30 3,446,596.00 638,070.00 310,221.00
2017-06-30 3,345,082.00 648,927.00 316,035.00
2017-03-31 3,271,506.00 662,485.00 212,199.00
2016-12-31 3,227,664.00 698,590.00 278,301.00
2016-09-30 3,270,643.00 839,504.00 352,489.00
2016-06-30 3,217,244.00 864,679.00 363,673.00
2016-03-31 3,258,973.00 903,477.00 330,675.00
2015-12-31 3,231,374.00 859,713.00 281,031.00
2015-09-30 5,408,484.88 851,804.86 274,940.94
2015-06-30 4,540,967.84 723,954.62 166,459.56
2015-03-31 4,772,013.04 776,763.59 186,513.99
2014-12-31 3,049,542.00 756,118.00 179,723.00
2014-09-30 3,288,883.51 516,755.67 120,257.53
2014-06-30 2,771,260.13 395,535.23 86,647.52
2014-03-31 2,833,799.20 428,339.23 89,797.18
2013-12-31 2,590,899.31 355,540.19 68,177.24
2013-09-30 2,577,463.69 304,722.70 119,311.13
2013-06-30 2,548,682.66 306,695.31 114,124.53
2013-03-31 2,383,671.14 205,415.55 92,586.03
  • PJSC LUKOIL's level of debt (9.6%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (24.6% vs 9.6% today).
  • Debt is well covered by operating cash flow (302%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 42.3x coverage).
X
Financial health checks
We assess PJSC LUKOIL's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. PJSC LUKOIL has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is PJSC LUKOIL's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
7.78%
Current annual income from PJSC LUKOIL dividends. Estimated to be 16.18% next year.
If you bought €2,000 of PJSC LUKOIL shares you are expected to receive €156 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • PJSC LUKOIL's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.7%).
  • PJSC LUKOIL's dividend is above the markets top 25% of dividend payers in Germany (4.97%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:LUK Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
Europe Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 68 Stocks 9.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 323 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 1%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:LUK Future Dividends Estimate Data
Date (Data in RUB) Dividend per Share (annual) Avg. No. Analysts
2024-12-31 761.29 1.00
2023-12-31 1,038.13 2.00
2022-12-31 895.27 4.00
2021-12-31 593.43 7.00
2020-12-31 565.16 3.00
2020-03-30
DB:LUK Past Annualized Dividends Data
Date (Data in RUB) Dividend per share (annual) Avg. Yield (%)
2019-10-16 347.000 5.908
2019-04-25 250.000 4.713
2018-10-22 225.000 4.273
2018-04-24 215.000 4.847
2017-10-25 205.000 5.693
2017-04-26 195.000 6.752
2016-12-07 187.000 5.878
2016-08-29 177.000 5.745
2016-04-04 177.000 6.419
2015-10-29 159.000 6.410
2015-08-28 174.419 7.853
2015-06-25 154.000 6.254
2015-03-03 139.161 5.901
2014-11-27 120.000 4.598
2014-07-24 120.000 5.834
2014-04-24 110.000 5.500
2014-02-19 124.256 6.617
2013-08-08 100.000 4.952
2013-04-22 100.000 5.145
2013-03-07 93.174 4.846
2013-01-15 90.792 4.612
2012-11-27 78.600 4.009
2012-03-01 65.537 3.851
2011-08-31 60.834 3.786
2011-03-04 57.530 3.256
2010-08-27 47.351 2.847
2010-06-28 52.000 3.152
2010-03-24 48.600 3.101
2010-01-22 46.939 2.975

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of PJSC LUKOIL's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.1x coverage).
X
Income/ dividend checks
We assess PJSC LUKOIL's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can PJSC LUKOIL afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. PJSC LUKOIL has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of PJSC LUKOIL's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Vagit Alekperov
AGE 69
CEO Bio

Mr. Vagit Usufovich Alekperov serves as the President of PJSC LUKOIL (formerly, OAO LUKOIL) since 1993 and also serves as its Chief Executive Officer. Mr. Alekperov served as the President of OOO Burovaya Kompaniya Eurasia since July 2009. He worked in the oil industry in Azerbaijan and Western Siberia since 1968. He served as General Director of the Production Association Kogalymneftegaz of Glavtyumenneftegaz of the USSR Ministry of Oil and Gas from 1987 to 1990, Deputy Minister; First Deputy Minister of the USSR Ministry of Oil and Gas from 1990 to 1991 and President of the Oil Concern Langepasuraikogalymneft from 1992 to 1993. He served as the Chairman of Open Joint Stock Company Oil Company LUKOIL from 1993 to 2000. He has been an Executive Director at Public Joint Stock Company Oil Company LUKOIL since 1993. Since 2000, he is Chairman of the Supervisory Board at LUKOIL INTERNATIONAL GmbH. Since 2012, he is Chairman of the Community Council at Future Fund for regional social programs. He served as a Director of OOO Burovaya Kompaniya Eurasia since July 2009. He is a fellow/Full member of the Russian Academy of Natural Sciences. He is the Chairman of the Management Board and Member of the Management Board at PJSC LUKOIL. He is a Recipient of five orders and eight medals and was awarded a Certificate of Gratitude/Certificate of Honor and three Letters of Acknowledgement from the President of the Russian Federation and also a two times winner of the RF Government Prize. He is Distinguished Energy Industry Specialist, and Honored Oil Specialist. Mr. Alekperov graduated from the M. Azizbekov Azerbaijan Oil and Chemistry Institute in 1974 and also holds a Doctor of Economics.

CEO Compensation
  • Insufficient data for Vagit to compare compensation growth.
  • Insufficient data for Vagit to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team

Vagit Alekperov

TITLE
CEO, President
AGE
69

Ravil Maganov

TITLE
Deputy Chairman
AGE
65

Alexander Matytsyn

TITLE
First VP of Economics & Finance and Member of Management Board
AGE
58
TENURE
6.5 yrs

Vladimir Nekrasov

TITLE
Advisor to the President & Member of Management Board
AGE
62

Anatoly Moskalenko

TITLE
VP of Human Resources Management & Social Policy and Member of Management Board
AGE
60

Ilya Mandrik

TITLE
VP of Exploration & Development and Member of Management Board
AGE
59

Gennady Fedotov

TITLE
VP of Economics & Planning and Member of Management Board
AGE
49

Ivan Maslyaev

TITLE
VP, General Counsel & Member of Management Board
AGE
61

Azat Shamsuarov

TITLE
Senior VP of Oil & Gas Production of Russia and Member of Management Board
AGE
56

Vadim Vorobyev

TITLE
First VP of Lukoil for Refining & Sales and Member of Management Board
AGE
58
Board of Directors Tenure

Average tenure and age of the PJSC LUKOIL board of directors in years:

4.8
Average Tenure
67
Average Age
  • The tenure for the PJSC LUKOIL board of directors is about average.
Board of Directors

Valery Grayfer

TITLE
Chairman of the Board
AGE
90
TENURE
20.2 yrs

Vagit Alekperov

TITLE
CEO, President
AGE
69
TENURE
27.2 yrs

Ravil Maganov

TITLE
Deputy Chairman
AGE
65
TENURE
3.8 yrs

Leonid Fedun

TITLE
VP of Strategic Development & Executive Director
AGE
63
TENURE
6.8 yrs

Victor Blazheev

TITLE
Independent Director
AGE
58
TENURE
10.8 yrs

Roger Munnings

TITLE
Independent Director
AGE
69
TENURE
4.8 yrs

Pavel Suloev

TITLE
Chairman of Audit Commission

Sergei Shatalov

TITLE
Director
TENURE
0.8 yrs

Lyubov Khoba

TITLE
Non-Executive Director
AGE
62
TENURE
2.8 yrs

Toby Gati

TITLE
Independent Director
AGE
73
TENURE
3.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess PJSC LUKOIL's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. PJSC LUKOIL has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

PJSC LUKOIL, together with its subsidiaries, engages in exploration, production, refining, marketing, and distribution of oil and gas. The company’s Exploration and Production segment explores for, develops, and produces primarily crude oil. Its Refining, Marketing and Distribution segment processes crude oil into refined products; purchases, sells, and transports crude oil and refined petroleum products; refines and sells chemical products; and produces and distributes steam and electricity, as well as provides related services. The company operates a retail network of 5,168 filling stations in 18 countries, as well as markets its own and third-party crude oil and refined products through wholesale and retail channels in Russia, Europe, the South-East Asia, Central and North America, and internationally. PJSC LUKOIL was founded in 1993 and is headquartered in Moscow, Russia.

Details
Name: PJSC LUKOIL
LUK
Exchange: DB
Founded: 1993
RUB35,062,633,855
692,865,762
Website: http://www.lukoil.com
Address: PJSC LUKOIL
11, Sretensky Boulevard,
Moscow,
101000,
Russia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
MISX LKOH Common Stock Micex - Rts RU RUB 13. Jun 1995
LSE LKOH Common Stock London Stock Exchange GB USD 13. Jun 1995
KAS RU_LKOH Common Stock Kazakhstan Stock Exchange KZ KZT 13. Jun 1995
LSE LKOD SPON ADR REP 1 ORD RUB0.025 London Stock Exchange GB USD 09. Jan 1996
OTCPK LUKO.Y SPON ADR REP 1 ORD RUB0.025 Pink Sheets LLC US USD 09. Jan 1996
DB LUK SPON ADR REP 1 ORD RUB0.025 Deutsche Boerse AG DE EUR 09. Jan 1996
XTRA LUK SPON ADR REP 1 ORD RUB0.025 XETRA Trading Platform DE EUR 09. Jan 1996
LSE LKOD ADR EACH REPR 1 ORD RUB0.025 SPON London Stock Exchange GB USD 20. Oct 2015
LSE LKOE GDR EACH REPR 1 ORD RUB0.025 SPON 144A London Stock Exchange GB USD 30. Mar 2020
LSE 68FV GDR EACH REPR 4 ORD RUB0.025 144A London Stock Exchange GB RUB 30. Mar 2020
LSE LKOR GDR EACH REPR 4 ORD RUB0.025 REG S London Stock Exchange GB USD 30. Mar 2020
LSE LKOB GDR EACH REPR 4 ORD RUB0.025 REGS London Stock Exchange GB USD 30. Mar 2020
WBAG LKOD SPON ADR REP 1 ORD RUB0.025 Wiener Boerse AG AT EUR 09. Jan 1996
BMV LKOD N SPON ADR REP 1 ORD RUB0.025 Bolsa Mexicana de Valores MX MXN 09. Jan 1996
BMV LKOD N ADR EACH REPR 1 ORD RUB0.025 SPON Bolsa Mexicana de Valores MX RUB 20. Oct 2015
BATS-CHIXE LKODL SPON ADR REP 1 ORD RUB0.025 BATS 'Chi-X Europe' GB USD 09. Jan 1996
Number of employees
Current staff
Staff numbers
0
PJSC LUKOIL employees.
Industry
Integrated Oil and Gas
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/30 20:51
End of day share price update: 2020/03/30 00:00
Last estimates confirmation: 2020/03/30
Last earnings filing: 2020/03/10
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.