Gazprom PAO (GAZP.ME) Stock Price

Gazprom PAO Price

Delisted·May 3, 2024
155.20RUB
Last traded price

Revenue has compounded at 11.4% per year over the past 19 years to 10.71 T RUB. Earnings per share have grown at 6.9% per year over the last 19 years. Gazprom PAO's net margin stands at 11.4%, up from 2.1% several years earlier. Gazprom PAO currently offers a dividend yield of about 66.73%. The payout ratio is around 200% of earnings. The dividend has grown at 30.3% per year over the past 16 years. Analysts set a median price target of 517.86 RUB, implying 233.7% above the current price. Of 8 analysts, 7 rate the stock a buy — an overall Buy consensus.

Gazprom PAO stock price

Volume
Ex-Dividend
Details

Stock Price

How to Read This Chart

This chart tracks the historical stock price of Gazprom PAO over time. You can switch between daily, weekly, and monthly views and select custom time ranges — from a single day to the full available history. Use the toggle to view price changes in absolute currency terms or as a percentage change relative to the starting date.

Total Return vs. Price Return

The "Total Return" toggle includes reinvested dividends on top of the pure price movement. This is critical because dividends can account for a significant portion of long-term returns. Historically, roughly 40 % of the S&P 500's total return has come from dividends. Always compare total return when evaluating a stock's real performance against a benchmark.

Intraday Price Data

When viewing a one-day time frame, the chart displays real-time intraday price movements. This is useful for observing how Gazprom PAO stock reacts to market openings, earnings releases, or breaking news throughout the trading session.

What to Look For

Look for long-term trends (sustained upward or downward movements over months and years), support and resistance levels (price zones where the stock repeatedly bounces or reverses), and volatility (how much the price fluctuates day to day). Comparing Gazprom PAO's price chart to a market index like the S&P 500 can reveal whether the stock is outperforming or underperforming the broader market.

Gazprom PAO Stock Price History
DateGazprom PAO Price
Access this data via the Eulerpool API

Gazprom PAO Revenue, EBIT, Net Income

  • 3 Years

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  • Max

Revenue
EBIT
Net Income
Details
Date
Revenue
EBIT
Net Income
Jan 1, 2019
7.66 T RUB
1.34 T RUB
1.20 T RUB
Jan 1, 2020
6.32 T RUB
593.94 B RUB
135.34 B RUB
Jan 1, 2021
10.24 T RUB
2.93 T RUB
2.09 T RUB
Jan 1, 2022
11.67 T RUB
3.42 T RUB
1.23 T RUB
Jan 1, 2023
8.54 T RUB
912.17 B RUB
-629.09 B RUB
Jan 1, 2024
10.71 T RUB
1.96 T RUB
1.22 T RUB
Jan 1, 2025 (e)
11.55 T RUB
2.00 T RUB
1.83 T RUB
Jan 1, 2026 (e)
8.58 T RUB
1.20 T RUB
1.19 T RUB

Gazprom PAO Income Statement, Balance Sheet, Cash Flow Statement

Last updated Jul 31, 2026, 12:37 PM
 
REVENUET RUB
REVENUE GROWTH%
GROSS MARGIN%
GROSS INCOMET RUB
EBITT RUB
EBIT MARGIN%
NET INCOMET RUB
NET INCOME GROWTH%
DIV.RUB
DIV. GROWTH%
SHARESB
201120122013201420152016201720182019202020212022202320242025e2026e
4.644.765.255.596.076.116.558.227.666.3210.2411.678.5410.7111.558.58
28.912.7510.196.478.650.627.1225.63-6.86-17.4762.0113.99-26.8325.447.84-25.72
69.6966.6571.8467.8765.7961.2764.7966.8365.7764.3768.4077.8377.9378.1078.1078.10
3.233.183.773.794.003.744.245.505.044.077.009.096.668.379.026.70
1.641.311.531.071.200.790.782.061.340.592.933.420.911.962.001.20
35.4727.5329.2119.2219.8012.9011.9725.0117.499.4028.6229.2810.6818.2817.3413.98
1.361.181.140.160.790.950.711.461.200.142.091.23-0.631.221.831.19
42.22-13.02-3.67-86.04394.9920.91-24.94103.87-17.40-88.751,446.52-41.43-151.32-293.7050.21-34.87
3.858.975.997.207.207.898.048.0416.6115.2412.55103.56124.27149.13
61.09132.99-33.2220.209.581.90106.59-8.25-17.65725.1820.00
22.9022.9022.9023.0023.0022.6022.1022.1022.5023.6523.6523.6423.6523.6523.6523.65
Details

Income Statement Key Figures

Revenue and Revenue Growth

Revenue is the starting point of every income statement — it measures the total sales Gazprom PAO generates from its core business. Revenue growth (expressed as year-over-year percentage change) is one of the most important indicators of business momentum. Sustained growth above 10 % annually is generally considered strong, while declining revenue is a serious warning sign that demands investigation.

Gross Margin

Gross margin = (Revenue − Cost of Goods Sold) ÷ Revenue. It reveals what percentage of each dollar of revenue Gazprom PAO retains after direct production costs. High gross margins (above 50 %) are typical of asset-light businesses like software and brands, while capital-intensive industries like manufacturing often operate below 30 %. Compare Gazprom PAO's gross margin to industry peers and track it over time to spot improving or deteriorating pricing power.

EBIT and EBIT Margin

EBIT measures operating profit — what remains after subtracting all operating expenses (including R&D, sales, and administrative costs) from gross profit. The EBIT margin shows this as a percentage of revenue. Because it excludes interest and taxes, EBIT allows fair comparisons between companies with different debt levels and tax jurisdictions. A rising EBIT margin indicates improving operational efficiency.

Net Income and Earnings Per Share (EPS)

Net income is the company's final profit after all expenses, interest, and taxes. Dividing net income by the number of shares outstanding gives you EPS — the single most influential metric in stock valuation. Consistent EPS growth is the primary driver of long-term stock price appreciation. Always check whether EPS growth comes from genuine profit improvement or from share buybacks reducing the share count.

Shares Outstanding

The total number of shares Gazprom PAO has issued. A declining share count (through buybacks) boosts EPS and signals management confidence. A rising share count (through stock issuance) dilutes existing shareholders. Always monitor this number alongside EPS to get the full picture of per-share value creation.

Analyst Estimates

The projected figures represent consensus estimates from professional analysts. Compare these forecasts against Gazprom PAO's historical growth rates to assess whether expectations are realistic. A company that consistently beats consensus estimates tends to see its stock price rewarded over time, while repeated misses erode investor confidence.

Gazprom PAO stock margins

The Gazprom PAO margin analysis displays the gross margin, EBIT margin, as well as the profit margin of Gazprom PAO. The EBIT margin (EBIT/sales) indicates the percentage of sales that remains as operating profit. The profit margin shows the percentage of sales that remains for Gazprom PAO.
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Gross margin
EBIT margin
Profit margin
Details
Date
Gross margin
EBIT margin
Profit margin
Jan 1, 2019
65.77 %
17.49 %
15.70 %
Jan 1, 2020
64.37 %
9.40 %
2.14 %
Jan 1, 2021
68.40 %
28.62 %
20.44 %
Jan 1, 2022
77.83 %
29.28 %
10.50 %
Jan 1, 2023
77.93 %
10.68 %
-7.36 %
Jan 1, 2024
78.10 %
18.28 %
11.37 %
Jan 1, 2025 (e)
78.10 %
17.34 %
15.84 %
Jan 1, 2026 (e)
78.10 %
13.98 %
13.89 %

Gazprom PAO Stock Revenue, EBIT, Earnings per Share

The Gazprom PAO earnings per share therefore indicates how much revenue Gazprom PAO has generated per share in a given period. The earnings before interest and taxes per share shows how much of the operating profit corresponds to each share. The earnings per share indicates how much of the profit belongs to each share.
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Revenue per Share
EBIT per share
Earnings per Share
Details
Date
Revenue per Share
EBIT per share
Earnings per Share
Jan 1, 2019
340.43 RUB
59.56 RUB
53.46 RUB
Jan 1, 2020
267.35 RUB
25.12 RUB
5.72 RUB
Jan 1, 2021
433.13 RUB
123.96 RUB
88.52 RUB
Jan 1, 2022
493.74 RUB
144.56 RUB
51.84 RUB
Jan 1, 2023
361.25 RUB
38.58 RUB
-26.61 RUB
Jan 1, 2024
453.15 RUB
82.81 RUB
51.53 RUB
Jan 1, 2025 (e)
488.67 RUB
84.71 RUB
77.41 RUB
Jan 1, 2026 (e)
363.00 RUB
50.74 RUB
50.42 RUB

Gazprom PAO business model & stock analysis

Gazprom PAO is a Russian company operating in the energy industry. It was founded in 1989 and is currently the world's largest gas producer and one of the largest energy suppliers in Europe. Gazprom's business model is based on the extraction, processing, and distribution of natural gas and oil, as well as the development of new energy sources such as wind energy or hydrogen. The company is also involved in areas such as pipeline construction and the development of new technologies for the energy industry. Gazprom is divided into various divisions responsible for the production, transportation, and distribution of gas and oil. The gas exploration and production branch is responsible for the exploration of new gas fields and gas extraction. The transportation branch operates a network of pipelines that transport gas from the fields to consumers throughout Europe. The distribution branch supplies gas to companies and private households. In addition to the production and distribution of gas and oil, Gazprom is also involved in petrochemistry. The company produces petrochemical products such as methanol, PVC, polyethylene, and polypropylene. Additionally, the company also provides natural gas for fuel production. Gazprom is a major gas supplier in Europe and has contracts with many European countries, including Germany, Italy, France, and Turkey. The company also has partnerships with other major gas producers such as Dutch Gasunie and Norwegian company Statoil. Despite the importance of gas for Gazprom, the company is investing in the development of new energy technologies. In 2019, Gazprom announced its plans to invest in wind energy and build wind parks in Russia. The company is also planning the development of hydrogen as a new energy source and has already conducted experiments with hydrogen-powered vehicles. Gazprom has made controversial decisions in the past, particularly regarding pipeline construction. The political relations between Russia and Europe have also impacted the company, especially since Russia annexed Crimea in 2014. Overall, Gazprom is a significant player in the energy industry. The company is a leader in gas production and has significant contracts with European countries. However, Gazprom is also focused on the development of new technologies and hopes to play an important role in the production of renewable energies in the future.

Gazprom PAO SWOT Analysis

Strengths

Gazprom PAO, a leading global energy company, possesses several strengths that contribute to its competitive advantage:

  • Extensive gas reserves and production capabilities.
  • Large market share in Russia and major presence in international markets.
  • Diverse natural gas portfolio with both conventional and unconventional resources.
  • Strong infrastructure for exploration, production, and transportation.
  • Vertical integration across the value chain, ensuring operational efficiency.
  • Strong financial position and access to capital for investments.

Weaknesses

Despite its strengths, Gazprom PAO also faces certain weaknesses that could hinder its performance:

  • Dependence on natural gas sales, making the company vulnerable to price fluctuations.
  • Reliance on exports to generate significant revenue, exposing it to geopolitical risks and regulatory changes.
  • Limited diversification into other energy sources.
  • Bureaucratic decision-making processes due to the company's size and government influence.

Opportunities

Gazprom PAO can capitalize on various opportunities that exist in the energy market:

  • Increasing global demand for clean and sustainable energy fuels the growth potential of natural gas.
  • Expansion into new emerging markets, particularly in Asia, driven by rising energy consumption.
  • Potential for partnerships and joint ventures to access new technologies and markets.
  • Development of liquefied natural gas (LNG) infrastructure and trading.
  • Advancements in shale gas extraction techniques may provide alternative sources of revenue.

Threats

Gazprom PAO faces several threats that could impact its market position:

  • Increasing competition from other gas producers and renewable energy sources.
  • Fluctuating global energy prices and economic uncertainties affecting demand.
  • Geopolitical tensions disrupting supply chains and trade relationships.
  • Environmental concerns leading to stricter regulations on fossil fuel consumption.
  • Potential for energy diversification reducing reliance on natural gas.

Gazprom PAO Eulerpool Fair Value

Details

Fair Value Estimate

What Is Fair Value?

Fair value is an estimate of what a stock is truly "worth" based on its financial fundamentals, independent of the current market price. If the calculated fair value is above the current share price, the stock may be undervalued — and vice versa. This chart shows three different fair value approaches so you can cross-check them against each other.

Earnings-Based Fair Value

Calculated by multiplying the current earnings per share (EPS) by the average historical P/E ratio over a selected multi-year period. The smoothing over several years filters out temporary spikes or dips. If this fair value exceeds the market price, it suggests the stock is cheap relative to its earning power.

Example: Fair Value (Earnings) 2022 = EPS 2022 × Average P/E 2019–2021

Revenue-Based Fair Value

Derived by multiplying revenue per share by the average historical price-to-sales ratio. This method is particularly useful for companies with volatile or temporarily depressed earnings, as revenue tends to be more stable than profits. It answers: "At what price has the market historically valued each dollar of this company's sales?"

Example: Fair Value (Revenue) 2022 = Revenue per Share 2022 × Average P/S 2019–2021

Dividend-Based Fair Value

Calculated by dividing the dividend per share by the average historical dividend yield. This approach is most relevant for mature, consistently dividend-paying companies. If the resulting fair value is higher than the current price, it implies the stock offers a better yield than its historical average.

Example: Fair Value (Dividend) 2022 = Dividend per Share 2022 ÷ Average Yield 2019–2021

How to Use This Chart

When all three fair value lines converge above the current price, it strengthens the case that the stock is undervalued. When they diverge, investigate why — it may indicate a structural shift in margins, payout policy, or growth rate. The forward estimates on the right extend the analysis using projected fundamentals, helping you assess whether the current price already reflects future growth expectations.

Gazprom PAO historical P/E ratio, EBIT multiple, and P/S ratio

Gazprom PAO annual returns

Details

Annual Return

What This Chart Shows

This chart breaks down 's total annual return into two components: price return (gains or losses from stock price movement) and dividend return (income received from dividend payments). Together, they represent the total return an investor would have earned in each calendar year.

Price Return

Price return measures the percentage change in 's stock price from January 1st to December 31st of each year. Positive bars indicate the stock appreciated; negative bars show a decline. This is the component most investors focus on, but it tells only part of the story — especially for dividend-paying stocks.

Dividend Return

Dividend return represents the income generated from dividends paid during the year, expressed as a percentage of the starting stock price. While it may seem small in any single year (typically 1–4 % for established companies), dividends compound significantly over decades and have historically contributed roughly 40 % of total stock market returns.

What to Look For

Examine how many years showed positive vs. negative returns to gauge consistency. A stock with mostly positive years and small drawdowns suggests lower risk. Also compare 's annual returns to a benchmark index — consistently outperforming the market is a hallmark of a strong investment. Pay attention to the worst years: understanding downside risk is just as important as chasing upside potential.

Gazprom PAO shares outstanding

The number of shares of Gazprom PAO was 23.65 B in 2025. This indicates how many shares Gazprom PAO is divided into. Since shareholders are the owners of a company, each share represents a small portion of the company's ownership.
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  • Max

Number of stocks
Details
Date
Number of stocks
Jan 1, 2019
22.50 B Stocks
Jan 1, 2020
23.65 B Stocks
Jan 1, 2021
23.65 B Stocks
Jan 1, 2022
23.64 B Stocks
Jan 1, 2023
23.65 B Stocks
Jan 1, 2024
23.65 B Stocks
Jan 1, 2025 (e)
23.65 B Stocks
Jan 1, 2026 (e)
23.65 B Stocks

Gazprom PAO Dividend History

17 years of dividend payments

YearAnnual DividendYoY ChangePayments
2022103.56RUB 725.2%
202112.55RUB 17.7%
202015.24RUB 8.2%
201916.61RUB 106.6%
20188.04RUB 0.0%
20178.04RUB 1.9%
20167.89RUB 9.6%
20157.20RUB 0.0%
20147.20RUB 20.2%
20135.99RUB 33.2%

Gazprom PAO dividend history and estimates

In 2025, Gazprom PAO paid a dividend amounting to 124.27 RUB. Dividend means that Gazprom PAO distributes a portion of its profits to its owners.
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Dividend
Dividend (Estimate)
Details
Date
Dividend
Dividend (Estimate)
Jan 1, 2017
8.04 RUB
0.00 RUB
Jan 1, 2018
8.04 RUB
0.00 RUB
Jan 1, 2019
16.61 RUB
0.00 RUB
Jan 1, 2020
15.24 RUB
0.00 RUB
Jan 1, 2021
12.55 RUB
0.00 RUB
Jan 1, 2022
103.56 RUB
0.00 RUB
Jan 1, 2025 (e)
0.00 RUB
124.27 RUB
Jan 1, 2026 (e)
0.00 RUB
149.13 RUB

Gazprom PAO dividend payout ratio

In 2025, Gazprom PAO had a payout ratio of 160.54%. The payout ratio indicates the percentage of the company's profits that Gazprom PAO distributes as dividends.
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  • Max

Payout ratio
Details
Date
Payout ratio
Jan 1, 2019
31.07 %
Jan 1, 2020
266.25 %
Jan 1, 2021
14.18 %
Jan 1, 2022
199.75 %
Jan 1, 2023
160.06 %
Jan 1, 2024
124.66 %
Jan 1, 2025 (e)
160.54 %
Jan 1, 2026 (e)
295.77 %

Current Gazprom PAO forecasts and price targets in July 2026

Analyst Price Targets 2026
Δ MOM Price Target
2.62 %
Buy87.50 % (7)
Hold12.50 % (1)
Sell0.00 % (0)
12M Price Target
517.86
Last Price
155.20
Currency
RUB
12M Return Potential
233.67 %
LTM Return
0 %

EESG©

Eulerpool ESG Scorecard© for the Gazprom PAO stock

16/100
24
Environment
17
Social
8
Governance
E

Environment

20
Scope 1 - Direct Emissions209,550,000
Scope 2 - Indirect emissions from purchased energy11,330,000
Scope 3 - Indirect emissions within the value chain1,078,600,000
Total CO₂ emissions220,880,000
CO₂ reduction strategy
Coal energy
Nuclear power
Animal experiments
Fur & Leather
Pesticides
Palm Oil
Tobacco
Genetically modified organisms
Climate concept
Sustainable forestry
Recycling regulations
Environmentally friendly packaging
Hazardous substances
Fuel consumption and efficiency
Water consumption and efficiency
S

Social

20
Percentage of female employees24.1
Percentage of women in management
Percentage of Asian employees
Share of Asian management
Percentage of Hispanic/Latino employees
Hispano/Latino Management share
Percentage of Black employees
Black Management Share
Percentage of white employees
White Management Share
Adult content
Alcohol
Weapons
Firearms
Gambling
Military contracts
Human rights concept
Privacy concept
Occupational health and safety
Catholic
G

Governance (Corporate Governance)

4
Environmental reporting
Stakeholder Engagement
Call Back Policies
Antitrust law

The Eulerpool ESG Scorecard© is the strictly copyrighted intellectual property of Eulerpool Research Systems. Any unauthorized use, imitation, or infringement will be actively pursued and may lead to significant legal consequences. For licenses, collaborations, or usage rights, please contact us directly via our contact form. Contact Form to us.

Gazprom PAO shareholder structure

% Name
38.41973%
Federal Agency for State Property Management
Federal Agency for State Property Management
10.98308%
Rosneftegaz
Rosneftegaz
0.89107%
OAO Rosgazifikatsiya
OAO Rosgazifikatsiya
0.25999%
BlackRock Advisors (UK) Limited
BlackRock Advisors (UK) Limited
0.16638%
GQG Partners, LLC
GQG Partners, LLC
0.16562%
BlackRock Investment Management (UK) Ltd.
BlackRock Investment Management (UK) Ltd.
...

Gazprom PAO Executives and Management Board

VZ

Mr. Viktor Zubkov

(82)

Non-Executive Chairman of the Board

Compensation39.17 M RUB
AM

Mr. Aleksey Miller

(61)

Chairman of the Management Committee, Deputy Chairman of the Board of Directors, Executive Director · since 2001

Compensation37.09 M RUB
MS

Mr. Mikhail Sereda

(53)

Member of the Board of Directors, Non-Executive Director · since 2001

Compensation31.57 M RUB
VM

Mr. Viktor Martynov

(70)

Member of the Board of Directors, Senior Independent Director

Compensation31.57 M RUB
VM

Mr. Vitaly Markelov

(61)

Member of the Board of Directors, Executive Director, Deputy Chairman of the Management Committee · since 2011

Compensation26.74 M RUB

Frequently asked questions about Gazprom PAO

The business model of Gazprom PAO is primarily focused on the exploration, production, transportation, and marketing of natural gas and other energy-related products. As the largest extractor of natural gas globally, Gazprom PAO operates across the entire value chain, encompassing extraction at its vast reserves, transportation through its extensive pipeline network, sales to various market segments, including residential, industrial, and power companies. Additionally, the company also participates in the oil and gas condensate production, refining, and marketing. With its integrated operations, Gazprom PAO strives to ensure a reliable and steady supply of energy resources while maintaining a strong market position in both domestic and international markets.

All fundamentals and in-depth analysis of Gazprom PAO

Our stock analysis for Gazprom PAO stock includes important financial indicators such as revenue, profit, P/E ratio, P/S ratio, EBIT, as well as information on dividends. We also assess aspects such as stocks, market capitalization, debt, equity, and liabilities of Gazprom PAO. If you are looking for more detailed information on these topics, we offer comprehensive analyses on our subpages.