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Novatek (NVTK) USD

Novatek is Russia's largest independent natural gas producer and an LNG exporter, with fields in the Yamal-Nenets district and the Yamal LNG and Arctic LNG projects.

Sector: Oil & Gas

RU_NVTK

Price chart

1 155.3 RUBDay 0.36%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
1 155.3 RUB · 0.36%
Market cap
42.8 bn USD

Growth

Δ revenue y/y
17.9%
Δ EBITDA y/y
23.2%

Multiples

P/E (LTM)
18.0x
3y avg: 12.1x
P/B (FY)
1.2x
P/E (ann.)
7.4x
EV/EBITDA (LTM)
8.1x
3y avg: 9.4x
EV/EBITDA (ann.)
7.1x

Cash return

Dividend yield
7.2%
FCF yield (LTM)
11.2%

Value creation

to target market cap (spot commodity model)
Upside (potential)
+29.5%
↓ details

Liquidity

Daily turnover (MOEX)
4.8 bln RUB

Shares: connector/market_inputs

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.

DatePeriodStatusRevenueB USDOperating profitB USDD&AB USDEBITDAB USDNet profitB USDOperating CFB USDCapex + M&AB USDAssetsB USDEquityB USDROE (annualized)Net debtB USDSource
2026-06-30H1 2026 (6M)OK10.9
y/y 17.9%
2.2
y/y 24.9%
0.7
y/y 18.3%
3.0
y/y 23.2%
2.9
y/y 10.3%
2.3-0.647.8
y/y -1.3%
37.6
y/y -0.9%
15.6%-0.6Report (PDF)
2025-12-31H2 2025 (6M)OK8.0
y/y -3.2%
1.6
y/y 16.1%
0.7
y/y 38.0%
2.3
y/y 21.7%
-0.5
y/y -133.3%
3.8-0.745.9
y/y 24.7%
36.3
y/y 29.7%
6.0%-0.5Report (PDF)
2025-06-30H1 2025 (6M)OK9.3
y/y 10.9%
1.8
y/y -16.5%
0.6
y/y 23.9%
2.4
y/y -8.8%
2.6
y/y -31.7%
2.3-0.848.4
y/y 14.7%
37.9
y/y 15.2%
15.9%1.4Report (PDF)
2024-12-31H2 2024 (6M)OK8.4
y/y 4.9%
1.4
y/y -44.5%
0.5
y/y 14.3%
1.9
y/y -35.8%
1.6
y/y -53.8%
1.9-1.336.8
y/y 2.5%
28.0
y/y -3.6%
17.7%1.4Report (PDF)
2024-06-30H1 2024 (6M)OK8.4
y/y -0.4%
2.1
y/y 14.7%
0.5
y/y 6.1%
2.6
y/y 12.8%
3.8
y/y 85.9%
2.0-1.642.2
y/y 26.8%
32.9
y/y 19.0%
24.8%2.8Report (PDF)
2023-12-31H2 2023 (6M)OK7.9
y/y —
2.4
y/y —
0.4
y/y —
2.8
y/y —
3.4
y/y —
2.7-1.235.9
y/y —
29.1
y/y —
19.9%0.7Report (PDF)
2023-06-30H1 2023 (6M)OK8.4
y/y —
1.9
y/y —
0.5
y/y —
2.3
y/y —
2.1
y/y —
2.4-1.233.3
y/y —
27.7
y/y —
——Report (PDF)

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

Short-term debt (incl. ST leases)684
Long-term debt (incl. LT leases)2 765
− Cash & equivalents4 008
Net debt-560

Net debt / LTM EBITDA: -0.1x

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)

02 5005 0007 50010 00012 5002023 H12023 H22024 H12024 H22025 H12025 H22026 H1

Year-over-year change

-40%-20%0%20%40%2023 H12023 H22024 H12024 H22025 H12025 H22026 H1

Cash flow

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

-1 00001 0002 0003 0004 0002023 H12023 H22024 H12024 H22025 H12025 H22026 H1

Net debt / cash ($ mln)

-1 00001 0002 0003 0002023 H12023 FY2024 H12024 FY2025 H12025 FY2026 H1

Profit and cash

Profit is broadly cash-backed
In a typical year of 2020–2025 operating cash flow came to 0.93x of reported net profit; after capex, 0.49x.
year20202021202320242025
cash flow / profit2.19x0.93x0.92x0.71x2.71x
accruals, % of assets-4.5%1.3%1.1%3.8%-8.8%
Last twelve months (to 2026-06-30): 2.67x of profit came back as operating cash flow.
net debt / EBITDA -0.1x · capex 1.5x of depreciation · dividends 25% 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.

Regional industry profit

Rosstat publishes aggregate pre-tax profit monthly. ЯНАО, обрабатывающие производства.

Regional industry, 7 months 2026
RUB 200 bn
Year ago
RUB 121 bn
Change
+66%

Company has not reported this period; last report 6 months 2025.

Share-based range
RUB 148 – 196 bn

Point estimate unavailable; showing the historical-share range.

PeriodCumulative, RUB bnYoY
7 months 2026200+66%
6 months 2026143+141%
5 months 202698+241%
4 months 202697+143%
3 months 202683+381%
2 months 202669+248%
1 months 202637+1602%
12 months 2025349−30%
11 months 2025330−38%
10 months 2025172−60%
9 months 2025156−59%
8 months 2025120−65%
7 months 2025121−48%
6 months 202559−70%
5 months 202529−85%
4 months 202540−74%
3 months 2025−30−127%
2 months 2025−46−172%

Correlation 0.85 on YoY changes. Published about 60 days after month end.

Source: Росстат / ЕМИСС, показатель 57732

Research & reviews

Our earnings breakdowns and investment notes on this issuer.

All research →

Operating statistics

Production indicators — supplementary, not part of the financial statements

PeriodNatural gas production
млрд м3		Liquid hydrocarbons
млн т		Total hydrocarbons
млн бнэ		Gas sales (incl. LNG)
млрд м3
H1 2026-0643.687.14346.20—
FY 2025-1284.57
+0.6%		14.11
+2.2%		673
+0.9%		76.60
−1.5%
FY 2024-1284.0813.8066777.76

НОВАТЭК, предв. операционные данные за 2025 г. (novatek.ru, 20 янв. 2026): добыча углеводородов 673 млн бнэ (+0,9% г/г), в т.ч. природный газ 84,57 млрд м3, жидкие углеводороды 14,11 млн т; реализация газа (вкл. СПГ) 76,6 млрд м3 (-1,5%), реализация ЖУВ 17,9 млн т (+8,9%). 2024 г.: 667 млн бнэ, газ 84,08, ЖУВ 13,8, продажи газа 77,76. | H1 2026 (03.09.2026): добыча УВ 346,2 млн бнэ, газ 43,68 млрд м3, жидкие УВ 7,14 млн т — производств. показатели НОВАТЭКа 1П2026 (novatek.ru/Smart-Lab). Реализация газа отдельной цифрой не в этом релизе -> пусто.

Production & Reserves

Physical operating metrics — supplementary, not part of the financial statements

Natural gas + liquids (Yamal; SEC proved reserves)

Proved reserves
16 974 mmboe
2025
Reserve life (R/P)
25.2 yrs
reserves ÷ annual output
Annual production
673 mmboe
2025

Production, mmboe

66720246732025

Proved reserves

YearReserves, mmboe
202516 974
202417 506

Production

YearProduction, mmboeper day, mmboe
2025673
+0.9%		1.84
20246671.83

НОВАТЭК: SEC proved reserves 31.12.2025 = 16,974 mmboe (2,354 bcm gas + 182 mln t liquids), novatek.ru/ru/about/operational-activities/reserves/; добыча 2025 = 673 mmboe (84.57 bcm газа + 14.11 mln t жидких УВ), релиз 20.01.2026 novatek.ru id_4=7511. Prior year: SEC proved 17,506 mmboe at 31.12.2024; FY2024 production 667 mmboe (novatek.ru FY2025 preliminary operating data, 20.01.2026).

Key-commodity price — Brent

Current 112spot vs LTM +19%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: +29.5% ▼ -4.2 pp 1d

How it is calculated

LTM EBITDA406 109
Spot EBITDA573 669
3-year-price EBITDA460 999
Conservative EBITDA517 334
Historical EV/EBITDA (75th pct)8.7x
Target EV4 503 500
Net debt-28 704
Target market cap4 532 204
Current market cap3 500 254

Upside = target market cap ÷ current − 1 = +29.5%

Revenue growth & acceleration

Growth decelerating ▼
Last-year revenue growth -6% vs +13% the year before — a -19.2 pp move. 3-year CAGR —.
revenue growth by year: 2023 +19% · 2024 +13% · 2025 -6%
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 8.5x · 3-year 75th pct 9.6x

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.

CompanyMarketCap, $bnEV/EBITDAEV/EBITDA, adjusted
Aker BPglobal25.53.1x1.5x
LukoilRussia42.92.5x2.5x
Occidental Petroleumglobal62.05.2x2.5x
GazpromRussia32.02.9x2.9x
RosneftRussia49.03.3x3.3x
ConocoPhillipsglobal182.77.4x3.6x
TatneftRussia17.53.9x3.9x
Gazprom NeftRussia32.54.2x4.2x
Chevronglobal418.88.6x4.2x
Whitecap Resourcesglobal17.49.1x4.5x
SantosAustralia20.99.6x4.5x
Exxon Mobilglobal743.310.5x5.1x
Group median4.7x3.8x
Group average5.9x3.6x
This companyRussia42.58.1x8.1x

Group median 4.7x as traded, 3.8x adjusted; this company 8.1x — a 114% premium.

Group average 5.9x as traded, 3.6x adjusted; against the average this company is at a 128% premium.

At the adjusted group median the market cap would be -53% 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 20.7x, Russia 3.9x, South Africa 5.1x, Kazakhstan 4.6x, India 18.8x, Indonesia 4.9x); it is about where a name is listed, not what it does. Peer multiples come from the nightly rebuild of 2026-10-21; the company's own is live.

Dividend potential

Dividend-model upside: -30%

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)186 bn RUB
Payout ratio55%
Recent actual dividend (3-yr median)82.73 ₽
= Forecast dividend per share82.73 ₽
2 · Fair yield (spread to key rate)
CBR key rate14.0%
Historical yield spread to rate (3-yr median)-9.4 pp
= Fair dividend yield10.5%
3 · Valuation → upside
Current price1152 ₽
Forecast dividend yield7.2%
Fair price (dividend-based)809 ₽

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

Three-year model and IRR with caveats

Expected IRR: +19% (bear -14% … bull +47%)

price in 3 years 1 699 ₽ (+47% к 1 153 ₽); dividends along the way 188 ₽ (+16% цены); base — LTM на 2026-06-30 (H1)

Metric, RUB mlnLTM, actual
12m to 30.06.2026
2027
12m to 30.06
2028
12m to 30.06
2029
12m to 30.06
Revenue1.48 trn1.89 trn1.93 trn1.96 trn
Revenue growth—+28%+2%+2%
EBITDA406.1 bn583.2 bn583.1 bn581.0 bn
EBITDA margin27.5%30.9%30.3%29.6%
less D&A109.5 bn126.8 bn128.4 bn129.8 bn
EBIT296.6 bn456.5 bn454.7 bn451.2 bn
less net interest—4.4 bn-8.3 bn-17.0 bn
less tax82.4 bn
for 2024
113.0 bn115.8 bn117.0 bn
Net profit—339.0 bn347.3 bn351.1 bn
Capex—126.8 bn128.4 bn129.8 bn
Capex to revenue—6.7%6.7%6.6%
Free cash flow—339.0 bn347.3 bn351.1 bn
Net debt-28.7 bn-196.1 bn-352.4 bn-510.4 bn
Net debt / EBITDA-0.1x-0.3x-0.6x-0.9x
Dividend per share82.73 ₽61.41 ₽62.91 ₽63.61 ₽
Yield on current price7.2%5.3%5.5%5.5%
Where the growth comes from
Revenue-growth sourceweightgrowth: yr 1 · 2 · 3
Related-market prices (Gas / Liquids)
LNG 45% → +105%; Brent 35% → +51%; FX ×1.032; 71% of costs follow price
EI1 Commodities_D_Values + курс		49%+28% · +0% · +0%
Realised pace (acceleration/deceleration)
LTM YoY -8%; acceleration -15.4pp
LTM г/г по отчётности		11%-7% · -1% · +2%
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%+11% · +9% · +8%
Model assumptions
Exit multipleEV/EBITDA 8.00x (6.84x…10.00x)
No re-rating: min(current 8.5x, three-year median 8.7x). Re-rating to 10.0x on a falling rate is the bull case
Second valuation: discounted cash flow1 182 ₽ (discount 13.1%, terminal growth 4.0%)
77% of that value sits beyond the three-year horizon
Key rate by year13.2% · 9.8% · 8.1% (averaged over the 12 months to each model year end, not over the calendar year)
Cost inflation6.2% · 5.6% · 5.3%
Dividend policy55% of net profit, capped by cash flow
Current CPI (actual)6.3%, на 2026-09-30
Capexcapex/revenue intensity held at the base level, floored at 80% of D&A: growth may need no new plant, but wear still does
D&Agrows slower than revenue — elasticity 0.6: assets outlive the sales they carry
Interestgross 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
Tax25% of pre-tax profit when positive; losses earn no tax credit
Working capitalneutral: FCF = EBITDA − capex − interest − tax
Governanceno 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
Linemodelanalystsgap
2027 Консенсус, houses: 7.0 · blended from 50% 2026 + 50% 2027
Revenue1.89 trn1.64 trn1.15x
EBITDA583.2 bn648.0 bn0.90x
Net profit339.0 bn548.0 bn0.62x
2028 Консенсус, houses: 3.0 · blended from 50% 2027 + 50% 2028
Revenue1.93 trn1.68 trn1.14x
EBITDA583.1 bn741.8 bn0.79x
Net profit347.3 bn629.6 bn0.55x

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
Historical forecast checkobsmedian errorbias±20%
Revenue43%0.97x75%
EBITDA427%0.81x25%
Net profit332%0.68x33%

The model is anchored at each past reporting date with only the data available then, and its one-year-ahead forecast is compared with the actual. Rates and inflation are actuals, so this checks the operating forecast, not macro guessing.

Independent one-year estimates: eninvs Company_Forecast — 2 252 ₽; eninvs DividendPrediction — 334 ₽; Frontier див-модель — 809 ₽; Frontier спот-модель — 1 493 ₽. Ours on the same horizon — 1 601 ₽

Checks and caveats
  • ⚠ The base carries no capex — it is set equal to depreciation
  • ⚠ Historical check (4 observations): median EBITDA miss 7.0 pp of margin, within ±5 pp in 25% of cases, relative error 27% at bias 0.81x, revenue 3%
  • ⚠ The model matches the houses on revenue and EBITDA but differs 0.62x on profit. For a leveraged name that is almost always the rate path: the model runs interest down with the key rate, the street is usually more cautious
  • ⚠ The formula undercounts cash (conversion 2.23) but the evidence is thin: 2 usable years, excess in 2. No upward correction is applied — the forecast cash flow and dividend are understated
  • ✓ Growth sources: consensus, market, momentum
  • ✓ Revenue CAGR +10%
  • ✓ Year-3 margin 30% inside history 21%–105%
  • ✓ Year-3 net debt/EBITDA -0.9x
  • ✓ Three-year dividends — 16% of the current price
  • ✓ IRR +19%
  • ✓ Base is fresh: report 4 months old
  • ✓ Exit multiple and discounted cash flow agree (1,699 vs 1,182, 1.44x); in the DCF 77% of value sits in the terminal value
  • ✓ Versus the analyst forecast for 2027 (7 houses): revenue 1.15x, EBITDA 0.90x, profit 0.62x
  • ✓ One-year value agrees with an independent estimate: Frontier спот-модель (1.07x). 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: 667 -> 673 mmboe за 2024-2025 (+0.9% 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; 71% 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.

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: 82.73 RUB/sh · 7.2%

Pay yearDividend /sh
202682.73 ₽
202582.15 ₽
202479.59 ₽
202395.08 ₽
202288.77 ₽
202151.41 ₽
202029.92 ₽
201931.04 ₽
Payments by period
PeriodLast day to buy/sh
2026 q42026-10-0935.50 ₽
2026 q22026-04-1047.23 ₽
2025 q42025-10-0335.50 ₽
2025 q22025-04-2546.65 ₽
2024 q42024-10-1035.50 ₽
2024 q12024-03-2544.09 ₽
2023 q42023-10-0934.50 ₽
2023 q22023-05-0160.58 ₽
2022 q42022-10-0545.00 ₽
2022 q22022-05-0343.77 ₽

Dividends

No dividend rows found for this issuer.

Trading microstructure: order book & tape

Share of volume initiated by buyers (crossing the spread):
1d: 52% buy — balanced5d: 52% buy — balanced20d: 50% buy — balanced

Iceberg levels last session: 0 bid / 4 ask; largest — ask 1124.6 (filled ×4.2 of displayed, 3 refills).
Robot clips (recurring characteristic order size): 6 bid / 10 ask; largest — ask 269 lots ×440 appearances across 160 price levels. Ping probes (1-2 lots, typical iceberg hunting): bid ×635, ask ×584.

DayBuyer initiativeIcebergs bid/askRobots bid/askTrades
21.1052%0/46/1041,266
20.1053%1/14/327,543
19.1048%0/17/947,745
16.1058%2/06/443,070
15.1045%1/04/526,467

Source: L2 order book + trade tape (TQBR main session, ~23 liquid names). Trade side = the aggressor crossing the spread. Iceberg = level filled a multiple of its displayed size with regular refills. Robot clip = a non-round order size recurring hundreds of times across dozens of price levels (an algo's fingerprint migrating with price); ping = 1-2 lot probe orders. Updated nightly.

Investment-community mentions

Substantive mentions last 7 days: 6 (5 positive), last 30 days: 20 (17 positive) across tracked channels, broker research and shows. 24 passing mentions (digests, calendars) hidden.

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.

Corporate events

14.10.26Material event★ События (действия), оказывающие, по мнению эмитента, существенное влияние на стоимость или котировки его ценных бумаг
14 октября 2026 года ПAO «НОВАТЭК» представило предварительные производственные показатели за третий квартал и девять месяцев 2026 года. Добыча углеводородов за третий квартал составила 168,2 млн бнэ, что на 4,2% больше, чем в аналогичном периоде 2025 года. Общий объем реализации жидких углеводородов за девять месяцев составил 13,8 млн тонн, что на 1,0% выше показателей 2025 года.
02.10.26AGM / Board★ ▲ Решения общих собраний участников (акционеров)
На внеочередном собрании акционеров ПАО «НОВАТЭК» принято решение о выплате дивидендов за первое полугодие 2026 года в размере 35,50 руб. на акцию, общая сумма выплат составит 107,8 млрд. руб. Дата определения лиц, имеющих право на получение дивидендов, назначена на 12 октября 2026 года.
26.08.26AGM / Board★ ▲ Решения совета директоров (наблюдательного совета)
Совет директоров ПАО «НОВАТЭК» рекомендовал выплатить дивиденды за первое полугодие 2026 года в размере 35,50 руб. на акцию, что составляет 107,8 млрд. руб. Выплата будет осуществлена 12 октября 2026 года.
26.08.26Filing★ ▲ Созыв общего собрания участников (акционеров)
ПАО «НОВАТЭК» созывает внеочередное общее собрание акционеров с заочным голосованием, которое завершится 30 сентября 2026 года. В повестке дня стоит вопрос о выплате дивидендов по результатам первого полугодия 2026 года. Дата определения лиц, имеющих право на участие, - 7 сентября 2026 года.
18.05.26Filing★ ▲ Проведение заседания совета директоров (наблюдательного совета) и его повестка дня
Совет директоров ПАО «НОВАТЭК» проведет заседание 25 мая 2026 года для обсуждения изменений в программе выкупа глобальных депозитарных расписок, удостоверяющих права на акции компании.

Source: e-disclosure material filings over the last 180 days; ★ — flagged important by the classifier; summaries are automatic.

RU equity fund ownership

Disclosed in the top-10 of 13 of 17 funds, ≈3,8 млрд ₽ combined. Last month: added — 3, left top-10 — 2.

FundManagerWeight≈PositionΔ weight m/mDisclosure
AKME Альфа-Капитал Управляемые акцииАльфа-Капитал8.10%1,2 млрд ₽—31.08.2026
AKIE Альфа-Капитал Управляемые акции с выплатой доходаАльфа-Капитал7.47%27 млн ₽+0.73 pp31.08.2026
AMRE АТОН – Российские акции +Атон-менеджмент7.32%64 млн ₽+1.07 pp31.08.2026
TRND Т-Капитал Трендовые акцииТ-Капитал6.79%33 млн ₽—31.08.2026
DIVD ДОХОДЪ Индекс дивидендных акцийДОХОДЪ6.33%65 млн ₽—31.08.2026
TITR Т-Капитал Акции ростаТ-Капитал5.50%17 млн ₽—31.08.2026
BCSR БКС Индекс Российского рынкаБрокеркредитсервис5.00%17 млн ₽—31.08.2026
SBPS Первая – Фонд Моя цель 2035Первая4.93%6 млн ₽—31.08.2026
AKUP Альфа-Капитал Умный портфельАльфа-Капитал4.60%14 млн ₽+0.63 pp31.08.2026
EQMX ВИМ - Индекс МосБиржиВИМ Инвестиции4.39%584 млн ₽—31.08.2026
SBMX Первая - Фонд Топ Российских акцийПервая4.36%889 млн ₽—31.08.2026
TMOS Т-Капитал Индекс МосБиржиТ-Капитал4.36%651 млн ₽—31.08.2026
TRUR Т-Капитал – Стратегия вечного портфеля в рубляхТ-Капитал1.40%254 млн ₽—31.08.2026
SBRI Первая - Фонд Ответственные инвестицииПерваяleft top-10 (was 3.70%)31.08.2026
SCFT Технологии будущегоДоверительнаяleft top-10 (was 3.60%)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.

Investor reporting (IR): https://www.e-disclosure.ru/portal/files.aspx?id=225

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 Novatek (NVTK) — from primary filings.

Frequently asked questions

What is Novatek (NVTK)'s P/E ratio?
Novatek (NVTK) trades at a P/E of 18.0x (price to trailing 12-month earnings).
What is Novatek (NVTK)'s EV/EBITDA?
Novatek (NVTK) trades at 8.1x EV/EBITDA.
What is Novatek (NVTK)'s P/B ratio?
Novatek (NVTK) trades at a P/B of 1.2x.
What is Novatek (NVTK)'s dividend yield?
Novatek (NVTK)'s trailing 12-month dividend yield is 7.2%.
What is Novatek (NVTK)'s return on equity (ROE)?
Novatek (NVTK)'s ROE is 15.6%.
What is Novatek (NVTK)'s market capitalization?
Novatek (NVTK)'s market cap is 42.8 bn USD.

Bonds by this issuer

IssueYTMCouponPrice, %1DVolume today, ₽Avg vol. 20D, ₽Maturity
НОВАТЭК1Р39.2%9.4%100.65-0.20%46.7M103.9M02.2028
НОВАТЭК1Р29.7%6.25%92.94+0.32%5.0M39.7M05.2029
НОВАТЭК1Р59.9%7%93.14+0.16%5.3M98.5M01.2030
НОВАТЭК1Р49.8%7.5%94.18+0.51%4.4M37.3M05.2030

Price, YTM and turnover from MOEX; 1D is the current price vs the previous session close; floaters have no fixed YTM. Not investment advice.

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