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PAO NOVATEK

DB:N1O
Snowflake Description

Flawless balance sheet with solid track record and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
N1O
DB
$42B
Market Cap
  1. Home
  2. DE
  3. Energy
Company description

PAO NOVATEK, an independent oil and gas company, engages in the acquisition, exploration, development, production, processing, marketing, and export of natural gas and liquid hydrocarbons. The last earnings update was 49 days ago. More info.


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  • PAO NOVATEK has significant price volatility in the past 3 months.
N1O Share Price and Events
7 Day Returns
16.4%
DB:N1O
8.7%
DE Oil and Gas
4.3%
DE Market
1 Year Returns
-22.6%
DB:N1O
34.4%
DE Oil and Gas
-14.2%
DE Market
N1O Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
PAO NOVATEK (N1O) 16.4% 10.3% -38.2% -22.6% 2.2% 38.1%
DE Oil and Gas 8.7% -2.8% -19.4% 34.4% -14.7% 157%
DE Market 4.3% -9% -21.6% -14.2% -19.6% -25.6%
1 Year Return vs Industry and Market
  • N1O underperformed the Oil and Gas industry which returned 34.4% over the past year.
  • N1O underperformed the Market in Germany which returned -14.2% over the past year.
Price Volatility
N1O
Industry
5yr Volatility vs Market

N1O Value

 Is PAO NOVATEK 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 PAO NOVATEK 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 PAO NOVATEK.

DB:N1O 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 8.3%
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:N1O
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 0.97
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.972 (1 + (1- 20%) (5.18%))
1.008
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.01
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.008 * 8.61%)
8.29%

Discounted Cash Flow Calculation for DB:N1O using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for PAO NOVATEK 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:N1O DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (RUB, Millions) Source Present Value
Discounted (@ 8.29%)
2020 39,645.91 Analyst x2 36,610.33
2021 56,114.37 Analyst x4 47,850.27
2022 137,333.92 Analyst x4 108,141.72
2023 137,533.35 Analyst x2 100,006.60
2024 189,858.83 Analyst x2 127,484.26
2025 228,636.45 Est @ 20.42% 141,767.41
2026 261,057.37 Est @ 14.18% 149,476.20
2027 286,664.70 Est @ 9.81% 151,570.78
2028 306,012.73 Est @ 6.75% 149,412.15
2029 320,112.42 Est @ 4.61% 144,329.16
Present value of next 10 years cash flows RUB1,156,648.00
DB:N1O DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= RUB320,112.42 × (1 + -0.39%) ÷ (8.29% – -0.39%)
RUB3,672,863.52
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= RUB3,672,863.52 ÷ (1 + 8.29%)10
RUB1,655,984.87
DB:N1O Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= RUB1,156,648.00 + RUB1,655,984.87
RUB2,812,632.87
Equity Value per Share
(RUB)
= Total value / Shares Outstanding
= RUB2,812,632.87 / 300.32
RUB9365.32
DB:N1O Discount to Share Price
Calculation Result
Exchange Rate RUB/USD
(Reporting currency to currency of LSE:NVTK)
0.013
Value per Share
(USD)
= Value per Share in RUB x Exchange Rate (RUB/USD)
= RUB9365.32 x 0.013
$124.06
Non-primary Listing Adjustment Factor 1 share in DB:N1O represents 0.86551x of LSE:NVTK
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.86551x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 124.06 x 0.86551
€107.38
Value per share (EUR) From above. €107.38
Current discount Discount to share price of €119.70
= -1 x (€119.70 - €107.38) / €107.38
-11.5%

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

  • The current share price of PAO NOVATEK is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 PAO NOVATEK's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are PAO NOVATEK's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:N1O PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in RUB RUB2,873.91
LSE:NVTK Share Price ** LSE (2020-04-08) in USD $138.3
LSE:NVTK Share Price converted to RUB reporting currency Exchange rate (USD/ RUB) 75.49 RUB10440.23
Europe Oil and Gas Industry PE Ratio Median Figure of 104 Publicly-Listed Oil and Gas Companies 6.5x
Germany Market PE Ratio Median Figure of 402 Publicly-Listed Companies 17.07x

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

** Primary Listing of PAO NOVATEK.

DB:N1O PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= LSE:NVTK Share Price ÷ EPS (both in RUB)

= 10440.23 ÷ 2,873.91

3.63x

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

  • PAO NOVATEK is good value based on earnings compared to the Europe Oil and Gas industry average.
  • PAO NOVATEK is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does PAO NOVATEK's expected growth come at a high price?
Raw Data
DB:N1O PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 3.63x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts
-4.8%per year
Europe Oil and Gas Industry PEG Ratio Median Figure of 66 Publicly-Listed Oil and Gas Companies 0.32x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.24x

*Line of best fit is calculated by linear regression .

DB:N1O PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 3.63x ÷ -4.8%

-0.75x

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

  • PAO NOVATEK earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on PAO NOVATEK's assets?
Raw Data
DB:N1O PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in RUB RUB5,471.27
LSE:NVTK Share Price * LSE (2020-04-08) in USD $138.3
LSE:NVTK Share Price converted to RUB reporting currency Exchange rate (USD/ RUB) 75.49 RUB10440.23
Germany Oil and Gas Industry PB Ratio Median Figure of 6 Publicly-Listed Oil and Gas Companies 1.01x
Germany Market PB Ratio Median Figure of 573 Publicly-Listed Companies 1.47x
DB:N1O PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= LSE:NVTK Share Price ÷ Book Value per Share (both in RUB)

= 10440.23 ÷ 5,471.27

1.91x

* Primary Listing of PAO NOVATEK.

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

  • PAO NOVATEK is overvalued based on assets compared to the DE Oil and Gas industry average.
X
Value checks
We assess PAO NOVATEK'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. PAO NOVATEK has a total score of 2/6, 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.

N1O Future Performance

 How is PAO NOVATEK 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
-4.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is PAO NOVATEK expected to grow at an attractive rate?
  • PAO NOVATEK's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of -0.4%.
Growth vs Market Checks
  • PAO NOVATEK's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • PAO NOVATEK's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:N1O Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:N1O Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts -4.8%
DB:N1O Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 13 Analysts 8.6%
Europe Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 13.8%
Europe Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 1.8%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*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:N1O Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 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:N1O Future Estimates Data
Date (Data in RUB Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 1,229,101 2
2023-12-31 1,051,070 -179,791 1,143,314 4
2022-12-31 1,015,997 244,097 395,950 12
2021-12-31 933,352 240,639 309,087 13
2020-12-31 724,051 160,240 57,960 11
2020-04-08
DB:N1O Past Financials Data
Date (Data in RUB Millions) Revenue Cash Flow Net Income *
2019-12-31 804,868 307,433 865,477
2019-09-30 824,304 283,159 863,610
2019-06-30 854,508 279,254 539,551
2019-03-31 831,817 229,827 502,417
2018-12-31 777,114 216,349 163,742
2018-09-30 718,157 217,702 165,451
2018-06-30 629,494 202,453 157,288
2018-03-31 562,502 179,682 128,490
2017-12-31 537,727 180,399 156,387
2017-09-30 517,414 180,361 171,448
2017-06-30 513,194 188,034 170,205
2017-03-31 511,752 168,209 212,896

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • PAO NOVATEK's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • PAO NOVATEK's revenue is expected to grow by 8.6% 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:N1O Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below

All data from PAO NOVATEK Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:N1O Future Estimates Data
Date (Data in RUB Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31
2023-12-31 6,541.05 6,541.05 6,541.05 1.00
2022-12-31 1,482.35 2,653.56 934.66 4.00
2021-12-31 1,056.55 1,710.43 662.55 4.00
2020-12-31 88.26 583.28 -573.73 6.00
2020-04-08
DB:N1O Past Financials Data
Date (Data in RUB Millions) EPS *
2019-12-31 2,873.91
2019-09-30 2,867.30
2019-06-30 1,791.07
2019-03-31 1,667.48
2018-12-31 543.31
2018-09-30 548.86
2018-06-30 521.67
2018-03-31 426.06
2017-12-31 518.49
2017-09-30 568.33
2017-06-30 564.07
2017-03-31 705.40

*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.
  • PAO NOVATEK is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess PAO NOVATEK'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.
PAO NOVATEK has a total score of 1/6, 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.

N1O Past Performance

  How has PAO NOVATEK 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 PAO NOVATEK'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.
  • PAO NOVATEK has delivered over 20% year on year earnings growth in the past 5 years.
  • PAO NOVATEK's 1-year earnings growth exceeds its 5-year average (428.6% vs 48.7%)
  • PAO NOVATEK's earnings growth has exceeded the Europe Oil and Gas industry average in the past year (428.6% vs 1.9%).
Earnings and Revenue History
PAO NOVATEK'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 PAO NOVATEK Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:N1O Past Revenue, Cash Flow and Net Income Data
Date (Data in RUB Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 804,868.00 865,477.00 33,474.00
2019-09-30 824,304.00 863,610.00 32,039.00
2019-06-30 854,508.00 539,551.00 31,811.00
2019-03-31 831,817.00 502,417.00 31,614.00
2018-12-31 777,114.00 163,742.00 29,491.00
2018-09-30 718,157.00 165,451.00 26,327.00
2018-06-30 629,494.00 157,288.00 23,718.00
2018-03-31 562,502.00 128,490.00 21,070.00
2017-12-31 537,727.00 156,387.00 19,129.00
2017-09-30 517,414.00 171,448.00 19,263.00
2017-06-30 513,194.00 170,205.00 19,674.00
2017-03-31 511,752.00 212,896.00 20,677.00
2016-12-31 496,475.00 257,795.00 20,511.00
2016-09-30 491,538.00 212,162.00 17,646.00
2016-06-30 482,422.00 163,252.00 16,435.00
2016-03-31 467,278.00 159,238.00 15,997.00
2015-12-31 441,669.00 74,396.00 14,862.00
2015-09-30 439,217.00 33,143.00 15,368.00
2015-06-30 406,583.00 53,186.00 14,643.00
2015-03-31 382,709.00 43,216.00 12,888.00
2014-12-31 357,643.00 37,296.00 12,361.00
2014-09-30 345,694.00 116,852.00 12,454.00
2014-06-30 336,609.00 132,683.00 12,446.00
2014-03-31 306,269.00 112,335.00 11,744.00
2013-12-31 298,158.00 110,006.00 11,719.00
2013-09-30 273,681.00 76,433.00 12,712.00
2013-06-30 250,547.00 72,978.00 12,553.00

*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.
  • PAO NOVATEK made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%).
  • PAO NOVATEK used its assets more efficiently than the Europe Oil and Gas industry average last year based on Return on Assets.
  • PAO NOVATEK's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess PAO NOVATEK'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.
PAO NOVATEK has a total score of 5/6, 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.

N1O Health

 How is PAO NOVATEK'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 PAO NOVATEK's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • PAO NOVATEK is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • PAO NOVATEK's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of PAO NOVATEK'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 3.3x 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 PAO NOVATEK Company Filings, last reported 3 months ago.

DB:N1O Past Debt and Equity Data
Date (Data in RUB Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 1,667,076.00 152,098.00 137,614.00
2019-09-30 1,616,539.00 160,040.00 148,212.00
2019-06-30 1,282,115.00 157,808.00 82,798.00
2019-03-31 1,266,546.00 161,578.00 96,538.00
2018-12-31 886,595.00 172,163.00 69,260.00
2018-09-30 844,179.00 162,496.00 84,858.00
2018-06-30 828,104.00 156,340.00 65,648.00
2018-03-31 817,647.00 144,260.00 55,401.00
2017-12-31 775,659.00 155,750.00 65,943.00
2017-09-30 730,378.00 165,989.00 73,945.00
2017-06-30 712,378.00 178,954.00 63,879.00
2017-03-31 729,649.00 179,390.00 64,977.00
2016-12-31 657,720.00 216,765.00 48,301.00
2016-09-30 594,963.00 227,867.00 27,455.00
2016-06-30 579,072.00 241,798.00 25,788.00
2016-03-31 549,638.00 288,550.00 85,531.00
2015-12-31 428,171.00 358,705.00 29,187.00
2015-09-30 412,716.00 293,405.00 35,222.00
2015-06-30 448,162.00 242,113.00 37,725.00
2015-03-31 422,275.00 259,024.00 52,098.00
2014-12-31 387,124.00 245,679.00 41,320.00
2014-09-30 427,436.00 182,430.00 34,854.00
2014-06-30 417,810.00 160,803.00 46,345.00
2014-03-31 397,015.00 168,431.00 43,383.00
2013-12-31 373,057.00 165,621.00 7,925.00
2013-09-30 336,266.00 140,747.00 10,386.00
2013-06-30 313,060.00 134,578.00 7,245.00
  • PAO NOVATEK's level of debt (9.1%) 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 (63.4% vs 9.1% today).
  • Debt is well covered by operating cash flow (202.1%, greater than 20% of total debt).
  • PAO NOVATEK earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess PAO NOVATEK'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. PAO NOVATEK 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.

N1O Dividends

 What is PAO NOVATEK'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
3.1%
Current annual income from PAO NOVATEK dividends. Estimated to be 3.93% next year.
If you bought €2,000 of PAO NOVATEK shares you are expected to receive €62 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?
  • PAO NOVATEK's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.63%).
  • PAO NOVATEK's dividend is below the markets top 25% of dividend payers in Germany (4.61%).
Upcoming dividend payment

Purchase PAO NOVATEK before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:N1O 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 8.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 314 Stocks 3.6%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.6%
Germany Top 25% Dividend Yield 75th Percentile 4.6%

Industry and Market average data is calculated daily.

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

DB:N1O Future Dividends Estimate Data
Date (Data in RUB) Dividend per Share (annual) Avg. No. Analysts
2024-12-31
2023-12-31 1,292.25 2.00
2022-12-31 452.53 9.00
2021-12-31 370.48 10.00
2020-12-31 237.14 10.00
2020-04-08
DB:N1O Past Annualized Dividends Data
Date (Data in RUB) Dividend per share (annual) Avg. Yield (%)
2020-03-23 323.300 3.493
2019-08-23 310.400 2.594
2019-03-19 260.600 2.087
2018-08-24 172.500 1.497
2018-04-20 149.500 1.665
2017-08-25 139.500 1.969
2017-03-14 140.000 2.113
2016-10-27 138.000 1.851
2016-10-26 138.000 2.012
2016-10-03 138.000 2.010
2016-03-10 138.000 2.117
2015-10-29 132.000 2.182
2015-10-28 132.000 2.216
2015-08-24 132.000 2.157
2015-03-12 104.000 1.960
2014-09-01 95.900 2.093
2014-04-28 78.900 1.992
2014-04-22 78.900 2.219
2013-09-06 72.600 1.707
2013-03-19 68.600 1.902
2012-04-27 70.000 1.977
2011-10-18 40.000 0.961
2011-05-03 40.000 1.039
2010-04-28 27.500 0.975
2009-09-02 25.200 1.375

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of PAO NOVATEK's earnings are paid to the shareholders as a dividend.
  • Dividends paid are thoroughly covered by earnings (8.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.3x coverage).
X
Income/ dividend checks
We assess PAO NOVATEK's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - 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 PAO NOVATEK afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. PAO NOVATEK 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.

N1O Management

 What is the CEO of PAO NOVATEK'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
Leonid Mikhelson
AGE 64
CEO Bio

Mr. Leonid Viktorovich Mikhelson has been the Chairman of Executive Management Board at Joint Stock Company NOVATEK (formerly known as OAO Novatek) since 2003 and serves as its General Director and Chief Executive Officer. Mr. Mikhelson serves as an Executive Officer of Hibridge Ventures Limited. Mr. Mikhelson served as a Chief Engineer of Ryazantruboprovodstroy since 1985. Since 1987, he headed Kuibishevtruboprovodstroy. He served as Managing Director of Nova from August 1, 1987 to October 1, 1994. He served as a General Director of the management company “Novafininvest”. Since May 2001, Mr. Mikhelson served as General Director of Pur-Land Oil and Gas Company. He started as a foreman of construction and assembling company in Surgut, Tyumen region, where he built the first section of Urengoi-Chelyabinsk gas pipeline. Mr. Mikhelson served as the Chairman of PJSC Stroytransgaz until December 23, 2010. Mr. Mikhelson serves as an Executive Director of OAO Novatek. He served as Member of the Supervisory Board of Russian Regional Development Bank. He served as Director of PJSC Stroytransgaz since March 12, 2008. Mr. Mikhelson received his primary degree in 1977 from Samara Institute of Civil Engineering, where he specialized in Industrial Civil Engineering. Mr. Mikhelson is rewarded with the Badge of Honor.

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

Average tenure and age of the PAO NOVATEK management team in years:

4.6
Average Tenure
60.5
Average Age
  • The tenure for the PAO NOVATEK management team is about average.
Management Team

Leonid Mikhelson

TITLE
CEO, Chairman of the Management Board
AGE
64

Mark Gyetvay

TITLE
Deputy Chairman of the Management Board & CFO
AGE
62
TENURE
9.8 yrs

Alexander Fridman

TITLE
First Deputy Chairman of Management Board
AGE
68
TENURE
16.3 yrs

Tatyana Kuznetsova

TITLE
Deputy Chairman of Management Board & Director of Legal Department
AGE
59

Vladimir Basko

TITLE
Deputy Chairman of Management Board
AGE
59
TENURE
15.3 yrs

Lev Feodosyev

TITLE
First Deputy Chairman of the Management Board
TENURE
5.2 yrs

Viktor Belyakov

TITLE
Deputy Chairman of Management Board
TENURE
4.1 yrs

Ilya Tafintsev

TITLE
Deputy Chairman of the Management Board
AGE
34
TENURE
2.3 yrs

Sergey Vasyunin

TITLE
Deputy Chairman of Management Board & Operations Director
TENURE
2.9 yrs

Eduard Gudkov

TITLE
Deputy Chairman of the Management Board
TENURE
1.6 yrs
Board of Directors Tenure

Average tenure and age of the PAO NOVATEK board of directors in years:

5
Average Tenure
70
Average Age
  • The tenure for the PAO NOVATEK board of directors is about average.
Board of Directors

Alexander Natalenko

TITLE
Chairman
AGE
73
TENURE
16.3 yrs

Leonid Mikhelson

TITLE
CEO, Chairman of the Management Board
AGE
64
TENURE
17.3 yrs

Viktor Orlov

TITLE
Independent Director
AGE
79
TENURE
6 yrs

Robert Castaigne

TITLE
Independent Director
AGE
73
TENURE
5 yrs

Andrey Akimov

TITLE
Director
AGE
66
TENURE
4.5 yrs

Burckhard Bergmann

TITLE
Independent Director
AGE
76
TENURE
11.5 yrs

Gennady Timchenko

TITLE
Director
AGE
67
TENURE
4.5 yrs

Michael Borrell

TITLE
Director
AGE
57
TENURE
5 yrs

Arnaud Le Foll

TITLE
Director
TENURE
1.3 yrs

Sergey Soloviev

TITLE
Member of the Board
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 PAO NOVATEK'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. PAO NOVATEK 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.

N1O News

Simply Wall St News

N1O Company Info

Description

PAO NOVATEK, an independent oil and gas company, engages in the acquisition, exploration, development, production, processing, marketing, and export of natural gas and liquid hydrocarbons. It principally holds interests in reserves located in the Yamal-Nenets Autonomous Region, Western Siberia. The company sells natural gas, stable gas condensate, gas condensate refined products, liquefied petroleum gas, crude oil and gas condensate refined products, naphtha, diesel fuel, and petrol. It is also involved in the wholesale and retail trading activities; and provision of transportation services. The company operates a network of refueling stations and wholesale stations under the NOVATEK-AZK name. It operates in Russia, rest of Europe, the Asia-Pacific region, the Middle East, and North America. The company was formerly known as OAO NOVATEK and changed its name to PAO NOVATEK in October 2016. PAO NOVATEK was founded in 1994 and is based in Tarko-Sale, Russia.

Details
Name: PAO NOVATEK
N1O
Exchange: DB
Founded: 1994
$38,195,453,527
300,324,338
Website: http://www.novatek.ru
Address: PAO NOVATEK
Ulitsa Pobedy 22a,
Tarko-Sale,
Yamalo-Nenetsky AO, 629850,
Russia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
LSE NVTK GDR EACH REPR 10 ORD 'REG S' London Stock Exchange GB USD 21. Jul 2005
OTCPK NOVK.Y GDR EACH REPR 10 ORD 'REG S' Pink Sheets LLC US USD 21. Jul 2005
DB N1O GDR EACH REPR 10 ORD 'REG S' Deutsche Boerse AG DE EUR 21. Jul 2005
WBAG NVTK GDR EACH REPR 10 ORD 'REG S' Wiener Boerse AG AT EUR 21. Jul 2005
BATS-CHIXE NVTKL GDR EACH REPR 10 ORD 'REG S' BATS 'Chi-X Europe' GB USD 21. Jul 2005
MISX NVTK Ordinary Shares Micex - Rts RU RUB 31. Dec 2004
Number of employees
Current staff
Staff numbers
0
PAO NOVATEK employees.
Industry
Oil and Gas Exploration and Production
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/08 21:46
End of day share price update: 2020/04/08 00:00
Last estimates confirmation: 2020/04/08
Last earnings filing: 2020/02/19
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.