GAZP Relative Valuation - Gazprom PAO - Alpha Spread

Gazprom PAO
MOEX:GAZP

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Gazprom PAO
MOEX:GAZP
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Price: 119.87 RUB 1.52%
Market Cap: 2.8T RUB
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Relative Value

The Relative Value of one GAZP stock under the Base Case scenario is 229.02 RUB. Compared to the current market price of 119.87 RUB, Gazprom PAO is Undervalued by 48%.

Relative Value is the estimated value of a stock based on various valuation multiples like P/E and EV/EBIT ratios. It offers a quick snapshot of a stock's valuation in relation to its peers and historical norms.

GAZP Relative Value
Base Case
229.02 RUB
Undervaluation 48%
Relative Value
Price
Worst Case
Base Case
Best Case

Valuation Multiples

vs History
79
vs Industry
68
Median 3Y
0.4
Median 5Y
0.4
Industry
1.3
vs History
vs Industry
44
Median 3Y
2.4
Median 5Y
2.8
Industry
9.2
vs History
96
vs Industry
49
Median 3Y
1.4
Median 5Y
1.7
Industry
4.5
vs History
82
vs Industry
41
Median 3Y
3.8
Median 5Y
4.1
Industry
10.8
vs History
95
vs Industry
72
Median 3Y
0.2
Median 5Y
0.2
Industry
1.2
vs History
46
vs Industry
60
Median 3Y
0.7
Median 5Y
0.8
Industry
1.7
vs History
58
vs Industry
74
Median 3Y
0.9
Median 5Y
1.1
Industry
4.2
vs History
12
vs Industry
16
Median 3Y
2.5
Median 5Y
2.9
Industry
5.7
vs History
28
vs Industry
22
Median 3Y
2.5
Median 5Y
4
Industry
8
vs History
80
vs Industry
46
Median 3Y
2.8
Median 5Y
3
Industry
6
vs History
77
vs Industry
39
Median 3Y
5.7
Median 5Y
5.7
Industry
10.6
vs History
77
vs Industry
73
Median 3Y
0.3
Median 5Y
0.3
Industry
1

Multiples Across Competitors

GAZP Competitors Multiples
Gazprom PAO Competitors

All Multiples
P/S
P/E
EV/EBITDA
EV/EBIT
All Countries
Close
Market Cap P/S P/E EV/EBITDA EV/EBIT
RU
Gazprom PAO
MOEX:GAZP
2.8T RUB 0.3 -4.5 7.7 7.7
SA
Saudi Arabian Oil Co
SAU:2222
6.7T SAR 3.6 15.4 7.1 7.9
US
Exxon Mobil Corp
NYSE:XOM
500.2B USD 1.5 14.6 7.5 11.3
US
Chevron Corp
NYSE:CVX
259B USD 1.3 13.9 6.7 12.1
UK
Shell PLC
NYSE:SHEL
213.3B USD 0.7 11.6 3.5 6.3
NL
Royal Dutch Shell PLC
OTC:RYDAF
210.9B USD 0.7 11.5 3.5 6.3
CN
PetroChina Co Ltd
SSE:601857
1.4T CNY 0.5 8.8 5.5 5.5
FR
TotalEnergies SE
NYSE:TTE
156.9B USD 0.7 7.5 3.6 5.1
CN
China Petroleum & Chemical Corp
SSE:600028
753.6B CNY 0.2 12.3 11.6 11.6
UK
BP PLC
NYSE:BP
89.2B USD 0.4 12.1 2.9 5.2
BR
Petroleo Brasileiro SA Petrobras
BOVESPA:PETR4
481.7B BRL 1 6.1 2.8 3.8

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