What is Lukoil (LKOH)'s P/E ratio?

Lukoil (LKOH) trades at a P/E of 7.5x (price to trailing 12-month earnings).

What is Lukoil (LKOH)'s EV/EBITDA?

Lukoil (LKOH) trades at 2.3x EV/EBITDA.

What is Lukoil (LKOH)'s P/B ratio?

Lukoil (LKOH) trades at a P/B of 0.9x.

What is Lukoil (LKOH)'s dividend yield?

Lukoil (LKOH)'s trailing 12-month dividend yield is 11.1%.

What is Lukoil (LKOH)'s market capitalization?

Lukoil (LKOH)'s market cap is 43.5 bn USD.

Lukoil (LKOH) Stock — Financials, Valuation & Dividends

Lukoil is Russia's largest private oil company, vertically integrated from exploration and production through refining and petrochemicals to fuel retail in Russia and abroad.

Amounts: USD (converted) · As reported
Converted modes use NBK / ECB-linked rates: balance sheet date for BS items, period average for P&L and cash flow (see filing row evidence). As reported keeps each row in its filing currency.

Financial results

Monetary columns are in B USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

Date	Period	Status	RevenueB USD	Operating profitB USD	D&AB USD	EBITDAB USD	Net profitB USD	Operating CFB USD	Capex + M&AB USD	AssetsB USD	EquityB USD	ROE (annualized)	Net debtB USD	Source
2026-06-30	H1 2026 (6M)	OK	26.9 y/y 22.4% y/y 22.4%	8.0 y/y 183.9% y/y 183.9%	2.7 y/y 30.3% y/y 30.3%	10.7 y/y 119.1% y/y 119.1%	5.8 y/y 452.6% y/y 452.6%	10.3	-3.1	71.2 y/y -27.9%	49.9 y/y -30.3%	23.9%	-4.9	Report (PDF)
2025-12-31	H2 2025 (6M)	OK	23.3 y/y -5.7% y/y —	3.5 y/y -44.9% y/y —	2.3 y/y 21.5% y/y —	5.9 y/y -29.0% y/y —	0.1 y/y -86.5% y/y —	8.8	-4.8	70.0 y/y -23.3%	46.4 y/y -31.6%	2.0%	-3.6	Report (PDF)
2025-06-30	H1 2025 (6M)	OK	22.0 y/y — y/y —	2.8 y/y — y/y —	2.0 y/y — y/y —	4.9 y/y — y/y —	1.0 y/y — y/y —	8.2	-4.5	98.8 y/y —	71.6 y/y —	3.0%	-2.9	Report (PDF)
2024-12-31	H2 2024 (6M)	OK	— y/y — y/y —	— y/y — y/y —	— y/y — y/y —	— y/y — y/y —	— y/y — y/y —	—	—	91.3 y/y —	67.8 y/y —	11.9%	-11.3	Report (PDF)
2024-06-30	H1 2024 (6M)	OK	48.1 y/y 2.3% y/y 2.3%	7.7 y/y -3.4% y/y -3.4%	3.2 y/y -4.4% y/y -4.4%	10.9 y/y -3.7% y/y -3.7%	6.6 y/y -11.0% y/y -11.0%	8.7	-3.6	100.5 y/y 10.6%	75.8 y/y 9.3%	17.9%	-10.1	Report (PDF)
2023-12-31	H2 2023 (6M)	OK	46.6 y/y — y/y —	8.8 y/y — y/y —	3.4 y/y — y/y —	12.2 y/y — y/y —	6.4 y/y — y/y —	11.5	-4.2	95.9 y/y —	71.4 y/y —	19.8%	-9.6	Report (PDF)
2023-06-30	H1 2023 (6M)	OK	47.1 y/y — y/y —	8.0 y/y — y/y —	3.4 y/y — y/y —	11.4 y/y — y/y —	7.4 y/y — y/y —	9.9	-4.4	90.9 y/y —	69.4 y/y —	—	-7.4	Report (PDF)

Net debt structure (leases included, IFRS 16) 2026-06-30

Net debt	-4 874
Short-term debt (incl. ST leases)	1 054
Long-term debt (incl. LT leases)	3 044
− Cash & equivalents	8 973

Net debt / LTM EBITDA: -0.3x

Conversion to USD. Balance sheet: rate effective on 2026-06-30, fixing date 2026-06-30. Flows: sampled average at each calculation period's bounds and monthly 15ths. Latest source row: 2026-01-01 — 2026-06-30. Source: Bank of Russia R01235. Rates

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

Year-over-year change

Cash flow

Operating and investing cash flow (OCF + ICF) ($ mln)

Net debt / cash ($ mln)

Profit and cash

Profit is cash-backed

In a typical year of 2019–2025 operating cash flow came to 2.25x of reported net profit; after capex, 1.27x.

year	2019	2020	2023	2024	2025
cash flow / profit	1.79x	46.69x	1.57x	2.25x	14.63x
accruals, % of assets	-8.6%	-12.7%	-7.7%	-10.7%	-24.1%

Last twelve months (to 2026-06-30): 3.34x of profit came back as operating cash flow.

net debt / EBITDA -0.0x · capex 1.5x of depreciation · dividends 9% of free cash flow

Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Year	Reserves, mmboe
2024	14 700
2021	15 300

Year	Production, mmboe	per day, mmboe
2025	666 −2.2%	1.82
2024	681	1.87
2021	789	2.16

Key-commodity price — Urals

Current 102spot vs LTM +70%

Commodity price upside

Oil model, two legs: crude and refining. Russian liquids production × Δ(Urals in RUB) gives the crude leg, Russian refinery throughput × Δ(export crack in RUB) the second; volumes from company disclosure. In the spot scenario Brent follows the futures curve and the excess refining margin decays with a 9-month half-life; base prices cover the same period as base EBITDA. Urals is the official price (Ministry of Economic Development, Argus quotes), not Brent minus a fixed spread. The coefficients (30% and 80%) are estimated on a six-company panel, not assumed from the tax rate. Then conservative EBITDA (min spot/avg) → target market cap at the 3-year median EV/EBITDA. The re-rating is suppressed when the multiple fell because EBITDA grew rather than because the price fell — otherwise the earnings growth would be counted twice.

USD/RUB: spot 81 vs LTM-avg 79 → ×1.03 (ruble weaker → more RUB revenue); applied to USD-priced commodities (RUB gold left as-is).

Upside (conservative): +6% · spot +30% · 3-yr -17%

How it is calculated — revenue → costs → EBITDA → conservative EBITDA → target market cap

1 · Reported baseline (LTM to 2026-06-30)
Revenue	3.92 trn RUB
EBITDA	1.29 trn RUB
Cash costs (revenue − EBITDA)	2.63 trn RUB
2 · Urals oil price ($/bbl)
Spot	$94.8
LTM average	$60.0
3-yr average	$65.2
Price source	Минэк 2024-05…2026-09 (29 мес.); до 2024-05 — оценка по медиане дисконта 10.89 $
Brent now (for reference)	$104.9
Brent in spot scenario: 12-mo futures average	$98.9
Urals in RUB per bbl — spot / LTM / 3-yr	7,952 RUB / 4,669 RUB / 5,572 RUB
3 · Export crack (RUB per bbl of throughput)
Spot / LTM / 3-yr	6,786 RUB / 3,447 RUB / 3,492 RUB
Spot scenario: 12-mo average, excess margin decays with 9-mo half-life	5,642 RUB
4 · EBITDA projection: two legs
Liquids production in Russia, mln bbl/yr · жидкие РФ: факт 2025, Россия (Интерфакс, Neftegaz.RU)	549
Refining throughput in Russia, mln t/yr	42
Coefficients: crude / crack (panel-estimated)	30% / 80%
Crude leg — spot	458.4 bln RUB
Refining leg — spot	536.6 bln RUB
Price effect on EBITDA — spot	995.0 bln RUB
Price effect on EBITDA — 3-yr	159.6 bln RUB
= Spot EBITDA (LTM + effect)	2.28 trn RUB
= 3-yr-price EBITDA	1.45 trn RUB
= Avg-scenario EBITDA (spot + 3-yr)/2	1.86 trn RUB
Conservative EBITDA = min(spot, avg(spot, 3-yr))	1.86 trn RUB
5 · Valuation → target market cap
EV/EBITDA (3y hist. p75)	2.0x
Target EV = EV/EBITDA × conservative EBITDA	3.67 trn RUB
Net debt (as of 2026-06-30)	-131.1 bln RUB
Target market cap = EV − net debt	3.80 trn RUB
Current market cap	3.57 trn RUB

Upside = target market cap ÷ current − 1 = +6%

Revenue growth & acceleration

Growth accelerating ▲

Last-year revenue growth -15% vs -44% the year before — a +29.5 pp move. 3-year CAGR —.

revenue growth by year: 2023 +41% · 2024 -44% · 2025 -15%

The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — daily history

Current 2.5x · 3-year 75th pct 3.4x

EV/EBITDA3-year 75th pct

Peer comparison

Group: Oil & Gas. Each peer is shown as it trades and re-priced onto this company's market (Russia) by the ratio of our coverage medians.

Company	Market	Cap, $bn	EV/EBITDA	EV/EBITDA, adjusted
Aker BP	global	26.1	3.2x	1.5x
Occidental Petroleum	global	61.8	5.1x	2.5x
Gazprom	Russia	32.0	2.9x	2.9x
Tatneft	Russia	17.6	2.9x	2.9x
Rosneft	Russia	49.8	3.3x	3.3x
ConocoPhillips	global	182.4	7.4x	3.6x
Gazprom Neft	Russia	33.1	4.2x	4.2x
Chevron	global	420.8	8.7x	4.2x
Santos	Australia	20.9	9.6x	4.4x
Whitecap Resources	global	17.4	9.1x	4.4x
Exxon Mobil	global	744.2	10.5x	5.1x
Novatek	Russia	42.8	8.5x	8.5x
Group median			6.3x	3.9x
Group average			6.3x	3.9x
This company	Russia	43.5	2.3x	2.3x

Group median 6.3x as traded, 3.9x adjusted; this company 2.3x — a 40% discount.

Group average 6.3x as traded, 3.9x adjusted; against the average this company is at a 41% discount.

At the adjusted group median the market cap would be +60% versus today.

The gap and the implied upside are measured against the median: one richly priced peer moves an average, not a median. The market adjustment uses our coverage medians (US 20.3x, Russia 3.7x, South Africa 5.0x, Kazakhstan 4.7x, India 18.8x, Indonesia 5.1x); it is about where a name is listed, not what it does. Peer multiples come from the nightly rebuild of 2026-10-22; the company's own is live.

Dividend potential

Dividend-model upside: +1%

The payout is forecast from smoothed profit × payout ratio, capped by free cash flow (developers exempt — escrow) and floored at the recent actual dividend (companies hold payouts while profitable). Fair yield = key rate + the historical yield-spread to the rate (so growers that historically traded below the rate score higher). Upside = fair price / current − 1.

1 · Forecast dividend (per policy)
Smoothed net profit (median YTD-ann./LTM/FY)	446 bn RUB
Payout ratio	79%
Free cash flow (FY, OCF − capex) — not a cap (leverage -0.0x)	640 bn RUB
Recent actual dividend (3-yr median)	675.00 ₽
= Forecast dividend per share	675.00 ₽
2 · Fair yield (spread to key rate)
CBR key rate	14.0%
Historical yield spread to rate (3-yr median)	-3.0 pp
= Fair dividend yield	11.0%
3 · Valuation → upside
Current price	6091 ₽
Forecast dividend yield	11.1%
Fair price (dividend-based)	6182 ₽

Forecast, not investment advice. Earnings annualization and policy assumptions are estimates.

Three-year model and IRR with caveats

Expected IRR: +21% (bear -3% … bull +46%)

price in 3 years 6 359 ₽ (+4% к 6 092 ₽); dividends along the way 3 579 ₽ (+59% цены); base — LTM на 2026-06-30 (H1)

Metric, RUB mln	LTM, actual 12m to 30.06.2026	2027 12m to 30.06	2028 12m to 30.06	2029 12m to 30.06
Revenue	3.92 trn	4.69 trn	4.72 trn	4.74 trn
Revenue growth	—	+20%	+1%	+0%
EBITDA	1.29 trn	1.58 trn	1.58 trn	1.57 trn
EBITDA margin	32.8%	33.6%	33.4%	33.1%
less D&A	392.0 bn	436.8 bn	438.5 bn	439.6 bn
EBIT	893.6 bn	1.14 trn	1.14 trn	1.13 trn
less net interest	-42.7 bn for 2023	-31.3 bn	-40.9 bn	-42.1 bn
less tax	229.1 bn for 2023	293.1 bn	294.9 bn	293.6 bn
Net profit	—	879.3 bn	884.7 bn	880.9 bn
Capex	627.1 bn	653.6 bn	657.9 bn	660.6 bn
Capex to revenue	16.0%	13.9%	13.9%	13.9%
Free cash flow	865.9 bn operating cash flow less capex	861.2 bn	864.8 bn	857.9 bn
Net debt	-131.1 bn	-607.4 bn	-737.2 bn	-865.8 bn
Net debt / EBITDA	-0.1x	-0.4x	-0.5x	-0.6x
Dividend per share	675 ₽	1 080 ₽	1 255 ₽	1 245 ₽
Yield on current price	11.1%	17.7%	20.6%	20.4%

Where the growth comes from

Revenue-growth source	weight	growth: yr 1 · 2 · 3
Related-market prices (Oil & Gas) Нефть Urals (Brent − дисконт Минэка) 85% → +75%; FX ×1.034; 90% of costs follow price EI1 Commodities_D_Values + курс; Urals = Brent − дисконт Минэка	49%	+20% · -1% · -1%
Realised pace (acceleration/deceleration) LTM YoY -15%; acceleration +29.5pp годовая выручка г/г (growth_acceleration)	11%	-2% · +2% · +4%
Analyst forecast of financial results (Консенсус, houses: 7) Терминал «Андромеда» (АО «Эйлер Аналитические Технологии»), модуль FA, источник «Консенсус», выгрузка 15.09.2026. Дата обновления прогноза в терминале — плейсхолдер 01.01.2100, поэтому свежесть консенсуса не подтверждена	40%	+13% · +10% · +9%

Model assumptions

Exit multiple	EV/EBITDA 1.82x (1.50x…2.66x)
No re-rating: min(current 2.7x, three-year median 1.8x). Re-rating to 2.7x on a falling rate is the bull case
Second valuation: discounted cash flow	15 033 ₽ (discount 13.1%, terminal growth 4.0%)
77% of that value sits beyond the three-year horizon
Key rate by year	13.2% · 9.8% · 8.1% (averaged over the 12 months to each model year end, not over the calendar year)
Cost inflation	6.2% · 5.6% · 5.3%
Dividend policy	85% of free cash flow, capped by cash flow
Current CPI (actual)	6.3%, на 2026-09-30
Capex	capex/revenue intensity held at the base level, floored at 80% of D&A: growth may need no new plant, but wear still does
D&A	grows slower than revenue — elasticity 0.6: assets outlive the sales they carry
Interest	gross debt × (that year's key rate + 1.5pp) less cash yield at 0.85 of the rate. Debt is refinanced at par; free cash after dividends accumulates and cuts net debt
Tax	25% of pre-tax profit when positive; losses earn no tax credit
Working capital	neutral: FCF = EBITDA − capex − interest − tax
Governance	no flags: the dividend has not faded against profit, payouts were not suspended, no audit qualification and no manual penalty — quality multiplier 1.00

Model versus analyst forecasts

Line	model	analysts	gap
2027 Консенсус, houses: 7.0 · blended from 50% 2026 + 50% 2027
Revenue	4.69 trn	4.43 trn	1.06x
EBITDA	1.58 trn	1.24 trn	1.27x
Net profit	879.3 bn	582.3 bn	1.51x
2028 Консенсус, houses: 3.0 · blended from 50% 2027 + 50% 2028
Revenue	4.72 trn	4.49 trn	1.05x
EBITDA	1.58 trn	1.24 trn	1.28x
Net profit	884.7 bn	582.2 bn	1.52x

The comparison runs on financial results, not target prices: a target depends on the multiple and horizon, while revenue and EBITDA forecasts compare directly.

Forecast accuracy measured on history

Independent one-year estimates: eninvs Company_Forecast — 5 681 ₽; eninvs DividendPrediction — 3 632 ₽; Frontier див-модель — 6 182 ₽; Frontier спот-модель — 6 485 ₽. Ours on the same horizon — 5 936 ₽

Checks and caveats

⚠ Year-3 margin 33% is above the best year on record (33%), though inside the +10% tolerance
⚠ The reporting perimeter changed in 2024: full-year revenue 4,420,565 against 4,333,568 for H1 of the same year — only 2% left for the rest of the year. That is a discontinued-operations reclassification with restated comparatives. Pre-break history is excluded and analyst forecasts may sit on a different perimeter
⚠ Too little history to check (0 observations) — forecast accuracy unmeasured
⚠ The two valuations of the same cash flow differ 0.4x: exit multiple 6,359 vs discounted cash flow 15,033 — the target rests on the multiple assumption rather than on the flow; in the DCF 77% of value sits in the terminal value
⚠ The debt build-up beyond cash flow could not be measured: 0 usable years, 5 discarded (perimeter change, asset sale, revaluation). The forecast runs without it — where it could be measured it adds about 5% of revenue a year to debt
✓ Growth sources: consensus, market, momentum
✓ Revenue CAGR +7%
✓ Year-3 net debt/EBITDA -0.6x
✓ Three-year dividends — 59% of the current price
✓ IRR +21%
✓ Base is fresh: report 4 months old
✓ Versus the analyst forecast for 2027 (7 houses): revenue 1.06x, EBITDA 1.27x, profit 1.51x
✓ The formula undercounts cash: over 3 reported years free cash flow came to 1.72 of 'EBITDA less capex, interest and tax', and the excess held in 3 of 3 years. The forecast is scaled up 1.30x — never above 1.3, which would extrapolate a good year
✓ One-year value agrees with an independent estimate: Frontier див-модель (0.96x). Compared with: eninvs Company_Forecast, eninvs DividendPrediction, Frontier див-модель, Frontier спот-модель

The price move passes into revenue to the power of 0.51 (общая оценка по нефтяникам), not one for one. The tax part of costs still follows the full price move — mineral tax is levied on price, not revenue.
Volume is taken separately, not from revenue momentum — фактическая добыча: 681 -> 666 mmboe за 2024-2025 (-2.2% в год, в модель взята половина). A commodity producer's revenue is mostly price, so using revenue growth as volume would count the price twice.
Commodity prices held at spot; 90% of cash costs follow the output price (mineral tax, energy, freight), the rest follows inflation. FX drifts with the inflation differential (PPP), so USD revenue still grows in roubles at a flat commodity price.
Dividend policy from the primary source: LUKOIL pays out of adjusted free cash flow, not profit; the realised payout of the reported base is 82-87%, hence 0.85 in the model.

A forecast, not investment advice. Related-market prices are held at today's level, so the model answers what the business earns and is worth if markets stay here — it does not predict prices.

Dividend history

Paid, trailing 12-mo: 675.00 RUB/sh · 11.1%

Pay year	Dividend /sh
2026	1210.00 ₽
2025	541.00 ₽
2024	1012.00 ₽
2023	885.00 ₽
2022	793.00 ₽
2021	553.00 ₽
2020	396.00 ₽
2019	347.00 ₽

Payments by period

Period	Last day to buy	/sh
2026 q4	2026-12-08	535.00 ₽
2026 q2	2026-05-01	278.00 ₽
2026 q1	2026-01-09	397.00 ₽
2025 q2	2025-06-02	541.00 ₽
2024 q4	2024-12-16	514.00 ₽
2024 q2	2024-05-06	498.00 ₽
2023 q4	2023-12-14	447.00 ₽
2023 q2	2023-06-01	438.00 ₽
2022 q4	2022-12-19	793.00 ₽
2021 q4	2021-12-17	340.00 ₽

Dividends

No dividend rows found for this issuer.

Day	Buyer initiative	Icebergs bid/ask	Robots bid/ask	Trades
21.10	48%	0/0	6/7	26,405
20.10	56%	1/2	4/3	29,289
19.10	44%	1/1	8/6	26,032
16.10	48%	1/2	9/7	24,671
15.10	49%	1/0	6/10	27,985

Investment-community mentions

Substantive mentions last 7 days: 2 (1 positive), last 30 days: 22 (17 positive) across tracked channels, broker research and shows. 19 passing mentions (digests, calendars) hidden.

БКС Экспресс 2026-10-21 11:04
▲ 🛢 ЛУКОЙЛ: рост возобновился, следующий рубеж — 6171 руб. Акции завершили прошлую сессию на отметке 6117 руб. (+… open
Олег Кузьмичев: Инвест вести #231: Дизель есть, можно поесть - ЧЕГО РА 2026-10-17
[9:56] Сбер даже, да, или там вот Лукойл (+ ещё 9 фрагм.) open
Совкомбанк Инвестиции 2026-10-13 16:14
▲ …ость для переоценки недооценённых активов. ➡️Лидеры сектора — LKOH и ROSN Лучшую динамику в секторе показали Лукойл (LKOH, +13% за неделю) и Роснефть (ROSN, +12% за неделю). Обе компании являются бенефициарами текущей к… open
Усиленные Инвестиции 2026-10-12 22:57
#нефть #ЛУКОЙЛ #Роснефть Дизель для США и перемирие по НПЗ: что из этого уже в ценах нефтяников и за чем следить даль… open
Усиленные Инвестиции 2026-10-12 00:05
▲ …том дефицит бюджета за январь-сентябрь составил 5.2 трлн руб., или 2.2% ВВП Важные корпоративные события: - Лукойл вырос на +12.9%: акции поддержали рост нефти и решение США разрешить поставки российского дизеля. Совет… open
СберИнвестиции 2026-10-09 19:06
▲ …🟢 Сбер (+0,7%) представил сокращённые результаты по РПБУ за девять месяцев. Подробности — в этом посте. 🔴 «Лукойл» (-0,01%) рекомендовал дивиденды за девять месяцев в размере 535 ₽ на акцию с доходностью 9,5%. Предлож… open
Linmath Trade 2026-10-09 16:12
▲ …Доходность, конечно, высокая, при текущей цене - 18% годовых, хотя ОФЗ уже дают 17% доходность. Поэтому пока Лукойл будет сильнее рынка и предполагаю, что сильные просадки будут выкупаться под текущий дивиденд + ожидаем… open
СберИнвестиции 2026-10-09 14:02
▲ …ента она принесла 22% доходности, тогда как индекс Мосбиржи вырос лишь на 6% за это время. 🛢 Но долгосрочно «Лукойл» всё ещё интересен Аналитики сохраняют позитивный взгляд на акции эмитента и оставляют их в подборках… open
Альфа-Инвестиции 2026-10-09 10:41
▲ Лукойл: дивиденды на пороге 💰 Совет директоров нефтяника рекомендовал выплатить по итогам девяти месяцев 535… open
Linmath Trade 2026-10-07 13:47
▲ …. Последние дни бумага держалась сильнее рынка, несмотря на локально снижающуюся нефть, поскольку традиционно Лукойл в октябре анонсировал и проводил СД по определению размера дивидендов. А так как ожидания по их размеру… open

Sources: Telegram channels (bloggers — blue chip, broker research — green), YouTube shows via transcripts (orange). Tone (▲/▼) is an automatic assessment in the stock's context. Quotes are fragmentary; authors' views are not our recommendations.

RU equity fund ownership

Disclosed in the top-10 of 12 of 17 funds, ≈10,3 млрд ₽ combined. Last month: added — 5, entered top-10 — 1, left top-10 — 1.

Fund	Manager	Weight	≈Position	Δ weight m/m	Disclosure
EQMX ВИМ - Индекс МосБиржи	ВИМ Инвестиции	17.04%	2,3 млрд ₽	+0.93 pp	31.08.2026
SBMX Первая - Фонд Топ Российских акций	Первая	16.99%	3,5 млрд ₽	+1.26 pp	31.08.2026
TMOS Т-Капитал Индекс МосБиржи	Т-Капитал	16.87%	2,5 млрд ₽	—	31.08.2026
AMRE АТОН – Российские акции +	Атон-менеджмент	9.79%	85 млн ₽	—	31.08.2026
BCSR БКС Индекс Российского рынка	Брокеркредитсервис	9.00%	31 млн ₽	—	31.08.2026
AKIE Альфа-Капитал Управляемые акции с выплатой дохода	Альфа-Капитал	7.96%	29 млн ₽	+2.34 pp	31.08.2026
AKME Альфа-Капитал Управляемые акции (new)	Альфа-Капитал	7.63%	1,1 млрд ₽	+7.63 pp	31.08.2026
DIVD ДОХОДЪ Индекс дивидендных акций	ДОХОДЪ	7.34%	75 млн ₽	—	31.08.2026
SBPS Первая – Фонд Моя цель 2035	Первая	6.91%	9 млн ₽	+0.56 pp	31.08.2026
TRUR Т-Капитал – Стратегия вечного портфеля в рублях	Т-Капитал	4.15%	753 млн ₽	—	31.08.2026
SBRI Первая - Фонд Ответственные инвестиции	Первая	3.94%	6 млн ₽	—	31.08.2026
SCFT Технологии будущего	Доверительная	3.75%	0 млн ₽	—	31.08.2026
TRND Т-Капитал Трендовые акции	Т-Капитал	left top-10 (was 7.44%)			31.08.2026

Source: monthly fund portfolio disclosures (investfunds); NAV is daily. Disclosures list each fund's top-10 only, so absence does not mean no position. Weight changes mix revaluation with trading. Fund flows and betas live in the fund monitor on the RU region page.

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Lukoil (LKOH) — from primary filings.

Issue	YTM	Coupon	Price, %	1D	Volume today, ₽	Avg vol. 20D, ₽	Maturity
ЛУКОЙЛ 26	60.6%	4.75%	98.78	-0.82%	3.7M	17.3M	11.2026
ЛУКОЙЛ 27	3.9%	2.8%	99.44	+2.31%	82K	8.9M	04.2027
ЛУКОЙЛ 30	8.3%	3.875%	86.75	+0.49%	1.8M	170.5M	05.2030
ЛУКОЙЛ 31	8.2%	3.6%	81.83	+0.14%	109.0M	14.7M	10.2031

Lukoil (LKOH) USD

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