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Tatneft RUB

Tatneft is a vertically integrated oil company based in Tatarstan, producing crude, refining at the TANECO complex and operating tyre and fuel retail businesses.

At a glance: strengths & risks
✓Revenue growing (+16% y/y, H1 2026)✓Margins improving (19%→29%, H1 2026)✓Net cash balance sheet

Sector: Oil & Gas

RU_TATN

Price chart

621.7 RUBDay 1.06%

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
621.7 RUB · 1.06%
Market cap
1443.2 bn RUB

Growth

Δ revenue y/y
-10.5%
Δ EBITDA y/y
-29.6%

Multiples

P/E (LTM)
8.4x
3y avg: 6.6x
P/B (FY)
1.1x
P/E (ann.)
<0
EV/EBITDA (LTM)
2.9x
3y avg: 3.4x
EV/EBITDA (ann.)
2.5x

Cash return

Dividend yield
8.5%
FCF yield (LTM)
9.1%

Value creation

to target market cap (spot commodity model)
Upside (potential)
+81.3%
↓ details

Liquidity

Daily turnover (MOEX)
1.6 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 RUB, 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 RUBOperating profitB RUBD&AB RUBEBITDAB RUBNet profitB RUBOperating CFB RUBCapex + M&AB RUBAssetsB RUBEquityB RUBROE (annualized)Net debtB RUBSource
2026-06-30Q2 2026 (3M)OK881.6
y/y —
222.0
y/y —
37.2
y/y —
259.2
y/y —
-4.3
y/y —
-4.1-62.52204.2
y/y —
1410.6
y/y —
-0.6%-154.1Report (PDF)
2025-12-31FY 2025 (12M)OK—
y/y -10.5%
—
y/y -36.9%
—
y/y 17.6%
—
y/y -29.6%
—
y/y -50.8%
——2133.9
y/y -3.2%
1324.7
y/y -0.4%
11.7%-36.9Report (PDF)
2025-06-30Q2 2025 (3M)OK322.1
y/y —
55.7
y/y —
16.6
y/y —
72.3
y/y —
-12.5
y/y —
-7.4-33.92087.9
y/y —
1275.1
y/y —
—2.3Report (PDF)
2025-03-31Q1 2025 (3M)PARTIAL439.1
y/y —
55.6
y/y —
15.6
y/y —
71.2
y/y —
27.1
y/y —
52.3-33.9—
y/y —
—
y/y —
—-89.2Report (PDF)
2024-12-31Q4 2024 (3M)OK1099.3
y/y 13.9%
206.0
y/y 3.4%
32.4
y/y 8.1%
238.5
y/y 4.0%
157.5
y/y 2576.7%
225.9-94.22204.9
y/y 7.8%
1330.2
y/y 11.1%
23.6%-117.7Report (PDF)
2024-06-30Q2 2024 (3M)OK931.1
y/y 49.3%
197.0
y/y 25.1%
29.8
y/y -2.7%
226.8
y/y 20.6%
151.4
y/y —
199.2-80.52108.2
y/y 13.8%
1290.2
y/y 8.4%
24.3%-122.0Report (PDF)
2023-12-31Q4 2023 (3M)OK965.2
y/y —
199.2
y/y —
30.0
y/y —
229.3
y/y —
-6.4
y/y —
352.8-129.42045.2
y/y —
1197.2
y/y —
-0.9%-78.8Report (PDF)
2023-06-30Q2 2023 (3M)OK623.9
y/y —
157.4
y/y —
30.6
y/y —
188.0
y/y —
-4.1
y/y —
-26.2-97.71853.1
y/y —
1190.2
y/y —
—-105.1Report (PDF)

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

Short-term debt (incl. ST leases)10 120
Long-term debt (incl. LT leases)4 369
− Cash & equivalents168 608
Net debt-154 119

Net debt / LTM EBITDA: -0.3x

Revenue & EBITDA

RevenueEBITDA

Quarterly values (₽ mln)

-500 0000500 0001 000 0001 500 0002023 H12023 H22024 H12024 H22025 q12025 q22025 H22026 H1

Year-over-year change

0%20%40%60%2023 H12023 H22024 H12024 H22025 q12025 q22025 H22026 H1

Cash flow

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

-200 000-100 0000100 000200 000300 0002023 H12023 H22024 H12024 H22025 q12025 q22025 H22026 H1

Net debt / cash (₽ mln)

-200 000-150 000-100 000-50 000050 0002023 H12023 FY2024 H12024 FY2025 q12025 q22025 q42026 H1

Profit and cash

Profit is cash-backed
In a typical year of 2021–2025 operating cash flow came to 1.36x of reported net profit; after capex, 0.77x. Loss years (2023) are left out of the ratio.
year20212022202320242025
cash flow / profit1.34x1.26x—1.38x1.72x
accruals, % of assets-4.6%-4.3%-16.5%-5.3%-5.1%
Last twelve months (to H1 2026): 1.58x of profit came back as operating cash flow.
net debt / EBITDA -0.1x · EBIT covers interest 11.1x · capex 2.9x of depreciation · dividends 76% 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. Татарстан, добыча полезных ископаемых.

Regional industry, 7 months 2026
RUB 284 bn
Year ago
RUB 135 bn
Change
+111%

Company has not reported this period; last report 6 months 2026.

Share-based range
RUB 225 – 254 bn

Point estimate unavailable; showing the historical-share range.

PeriodCumulative, RUB bnYoY
7 months 2026284+111%
6 months 2026222+111%
5 months 2026191+115%
4 months 2026135+81%
3 months 202666+12%
2 months 202614−74%
1 months 20268−74%
12 months 2025229−42%
11 months 2025214−41%
10 months 2025187−41%
9 months 2025166−39%
8 months 2025149−41%
7 months 2025135−37%
6 months 2025105−42%
5 months 202589−40%
4 months 202575−46%
3 months 202559−41%
2 months 202555−27%

Correlation 0.93 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 →

Production & Reserves

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

Oil (Tatarstan; proved reserves end-2022, no audit in 2023)

Proved reserves
847.90 mln t
2022
Reserve life (R/P)
30.5 yrs
reserves ÷ annual output
Annual production
27.83 mln t
2025

Production, mln t

27.80202129.10202228.45202327.30202427.832025

Proved reserves

YearReserves, mln t
2022847.90

Production

YearProduction, mln tper day, mln t
202527.83
+1.9%		0.08
202427.30
−4.0%		0.07
202328.45
−2.2%		0.08
202229.10
+4.7%		0.08
202127.800.08

Татнефть: Integrated Annual Report 2023 (tatneft.ru PDF, p.105): доказанные запасы нефти 847.9 млн т на конец 2022 (аудит в 2023 не проводился); добыча нефти (p.13): 2021/22/23 = 27.8/29.1/28.45 млн т. Газ ~0.9 bcm/год несущественен. Добыча нефти FY2024 = 27.3, FY2025 = 27.83 млн т (+2% YoY; company FY2025 operating results). Caveat: proved 847.9 = last audited (end-2022); disclosed later figures conflate ABC1+C2.

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): +81% · spot +124% · 3-yr +39%

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

1 · Reported baseline (LTM to 2026-06-30)
Revenue1.94 trn RUB
EBITDA444.2 bln RUB
Cash costs (revenue − EBITDA)1.49 trn RUB
2 · Urals oil price ($/bbl)
Spot$94.8
LTM average$60.0
3-yr average$65.2
Price sourceМинэк 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-yr7,952 RUB / 4,669 RUB / 5,572 RUB
3 · Export crack (RUB per bbl of throughput)
Spot / LTM / 3-yr6,786 RUB / 3,447 RUB / 3,492 RUB
Spot scenario: 12-mo average, excess margin decays with 9-mo half-life5,642 RUB
4 · EBITDA projection: two legs
Liquids production in Russia, mln bbl/yr · жидкие РФ: факт 2025 (Интерфакс, Коммерсант)204
Refining throughput in Russia, mln t/yr17
Coefficients: crude / crack (panel-estimated)30% / 80%
Crude leg — spot170.3 bln RUB
Refining leg — spot221.3 bln RUB
Price effect on EBITDA — spot391.6 bln RUB
Price effect on EBITDA — 3-yr59.8 bln RUB
= Spot EBITDA (LTM + effect)835.8 bln RUB
= 3-yr-price EBITDA503.9 bln RUB
= Avg-scenario EBITDA (spot + 3-yr)/2669.9 bln RUB
Conservative EBITDA = min(spot, avg(spot, 3-yr))669.9 bln RUB
5 · Valuation → target market cap
EV/EBITDA (3y hist. p75)3.7x
Target EV = EV/EBITDA × conservative EBITDA2.48 trn RUB
Net debt (as of 2026-06-30)-138.3 bln RUB
Target market cap = EV − net debt2.62 trn RUB
Current market cap1.44 trn RUB

Upside = target market cap ÷ current − 1 = +81%

Revenue growth & acceleration

Growth decelerating ▼
Last-year revenue growth -10% vs +28% the year before — a -38.2 pp move. 3-year CAGR +8%.
revenue growth by year: 2023 +11% · 2024 +28% · 2025 -10%
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 2.9x · 3-year 75th pct 3.9x

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 BPglobal26.03.2x1.5x
Occidental Petroleumglobal61.85.1x2.5x
LukoilRussia43.62.5x2.5x
GazpromRussia32.02.9x2.9x
RosneftRussia49.63.3x3.3x
ConocoPhillipsglobal182.47.4x3.6x
Gazprom NeftRussia33.04.2x4.2x
Chevronglobal420.88.7x4.2x
SantosAustralia20.99.6x4.4x
Whitecap Resourcesglobal17.49.1x4.4x
Exxon Mobilglobal744.210.5x5.1x
NovatekRussia42.68.5x8.5x
Group median6.3x3.9x
Group average6.2x3.9x
This companyRussia17.62.9x2.9x

Group median 6.3x as traded, 3.9x adjusted; this company 2.9x — a 25% discount.

Group average 6.2x as traded, 3.9x adjusted; against the average this company is at a 26% discount.

At the adjusted group median the market cap would be +32% 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 20.9x, 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: -19%

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)152 bn RUB
Payout ratio48%
Free cash flow (FY, OCF − capex) — not a cap (leverage -0.1x)120 bn RUB
Recent actual dividend (3-yr median)52.62 ₽
= Forecast dividend per share52.62 ₽
2 · Fair yield (spread to key rate)
CBR key rate14.0%
Historical yield spread to rate (3-yr median)-3.9 pp
= Fair dividend yield10.5%
3 · Valuation → upside
Current price622 ₽
Forecast dividend yield8.5%
Fair price (dividend-based)505 ₽

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

Three-year model and IRR withheld

The number is withheld — here is why

First-year profit (350,703) differs from the last reported (172,688) by a factor of 2.03. A one-year step of that size means the base and the forecast rest on different assumptions (interest, one-offs), so dividends and IRR built on it are not anchored in fact — the number is withheld

The path below is computed and shown in full, so you can see what the model rests on and where it breaks. Only the headline price and upside are hidden — those are what we do not trust.

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
Revenue1.94 trn2.28 trn2.35 trn2.41 trn
Revenue growth—+18%+3%+3%
EBITDA444.2 bn539.2 bn548.3 bn555.9 bn
EBITDA margin22.9%23.6%23.4%23.1%
less D&A79.2 bn87.3 bn88.8 bn90.1 bn
EBIT365.0 bn451.9 bn459.5 bn465.8 bn
less net interest8.6 bn
for 2025
-15.7 bn-17.4 bn-19.1 bn
less tax68.5 bn
for 2025
116.9 bn119.2 bn121.2 bn
Net profit172.7 bn350.7 bn357.7 bn363.7 bn
Capex136.1 bn179.9 bn184.9 bn189.5 bn
Capex to revenue7.0%7.9%7.9%7.9%
Free cash flow136.4 bn
operating cash flow less capex
253.5 bn256.8 bn259.5 bn
Net debt-138.3 bn-219.4 bn-291.3 bn-362.7 bn
Net debt / EBITDA-0.3x-0.4x-0.5x-0.7x
Dividend per share52.62 ₽80.48 ₽82.08 ₽83.47 ₽
Where the growth comes from
Revenue-growth sourceweightgrowth: yr 1 · 2 · 3
Related-market prices (Oil)
Нефть Urals (Brent − дисконт Минэка) 85% → +75%; FX ×1.033; 90% of costs follow price
EI1 Commodities_D_Values + курс; Urals = Brent − дисконт Минэка		49%+18% · +1% · +1%
Realised pace (acceleration/deceleration)
LTM YoY +4%; acceleration +6.1pp
LTM г/г по отчётности		11%+7% · +6% · +6%
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%+3% · +4% · +5%
Model assumptions
Exit multipleEV/EBITDA 2.94x (2.35x…4.29x)
No re-rating: min(current 2.9x, three-year median 3.6x). Re-rating to 4.3x on a falling rate is the bull case
Second valuation: discounted cash flow1 218 ₽ (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 policy50% of net profit
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
Revenue2.28 trn2.00 trn1.14x
EBITDA539.2 bn434.6 bn1.24x
Net profit350.7 bn264.5 bn1.33x
2028 Консенсус, houses: 3.0 · blended from 50% 2027 + 50% 2028
Revenue2.35 trn2.09 trn1.12x
EBITDA548.3 bn432.5 bn1.27x
Net profit357.7 bn268.7 bn1.33x

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%
Revenue88%0.92x88%
EBITDA89%0.94x88%
Net profit769%1.69x43%

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 — 769 ₽; eninvs DividendPrediction — 358 ₽; Frontier див-модель — 505 ₽; Frontier спот-модель — 1 201 ₽. Ours on the same horizon — 777 ₽

Checks and caveats
  • ✗ First-year profit (350,703) differs from the last reported (172,688) by a factor of 2.03. A one-year step of that size means the base and the forecast rest on different assumptions (interest, one-offs), so dividends and IRR built on it are not anchored in fact — the number is withheld
  • ✗ Across 7 historical measurements the profit forecast came to a median 1.69 of actual — the model consistently overstates this name's profit. Dividends and IRR run off profit; the number is withheld
  • ⚠ The name has two share classes: ordinary shares are 94% of the market cap. The exit multiple is computed on the whole cap, so the exit value is split between classes in the same proportion — otherwise the ordinary upside would be overstated 1.07x
  • ⚠ The reporting-period series needed repair: 5 rows discarded as incompatible with the cumulative convention (years 2020, 2021), and 4 cumulative periods rebuilt by summing standalone quarters. The database carries quarters labelled as halves and nine-month periods; LTM and year-on-year growth computed on those are wrong, so they are dropped
  • ✓ Growth sources: consensus, market, momentum
  • ✓ Revenue CAGR +7%
  • ✓ Year-3 margin 23% inside history 18%–31%
  • ✓ Year-3 net debt/EBITDA -0.7x
  • ✓ Three-year dividends — 40% of the current price
  • ✓ IRR +23%
  • ✓ Base is fresh: report 4 months old
  • ✓ Historical check (8 observations): median EBITDA miss 2.0 pp of margin, within ±5 pp in 75% of cases, relative error 9% at bias 0.94x, revenue 8%
  • ✓ Exit multiple and discounted cash flow agree (860 vs 1,218, 0.71x); in the DCF 77% of value sits in the terminal value
  • ✓ Versus the analyst forecast for 2027 (7 houses): revenue 1.14x, EBITDA 1.24x, profit 1.33x
  • ✓ One-year value agrees with an independent estimate: eninvs Company_Forecast (1.01x). Compared with: eninvs Company_Forecast, eninvs DividendPrediction, Frontier див-модель, Frontier спот-модель
  • The price move passes into revenue to the power of 0.41 (своя оценка), 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: 27.3 -> 27.83 mln t за 2024-2025 (+1.9% 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; 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: Applied literally off RAS net profit of the parent; the model works from IFRS profit, so years with a wide RAS/IFRS gap will differ.

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: 52.62 RUB/sh · 8.5%

Pay yearDividend /sh
202652.62 ₽
202574.85 ₽
202498.54 ₽
202362.11 ₽
202258.83 ₽
202128.82 ₽
20209.94 ₽
2019119.11 ₽
Payments by period
PeriodLast day to buy/sh
2026 q42026-10-1232.88 ₽
2026 q32026-07-1411.61 ₽
2026 q12026-01-088.13 ₽
2025 q42025-10-1314.35 ₽
2025 q22025-05-3043.11 ₽
2025 q12025-01-0717.39 ₽
2024 q42024-10-0738.20 ₽
2024 q32024-07-0825.17 ₽
2024 q12024-01-0835.17 ₽
2023 q42023-10-1027.54 ₽

Dividends

No dividend rows found for this issuer.

Trading microstructure: order book & tape

Share of volume initiated by buyers (crossing the spread):
1d: 50% buy — balanced5d: 50% buy — balanced20d: 51% buy — balanced

Iceberg levels last session: 0 bid / 1 ask; largest — ask 612 (filled ×7.1 of displayed, 25 refills).
No characteristic robot clips detected last session.

DayBuyer initiativeIcebergs bid/askRobots bid/askTrades
21.1050%0/10/023,051
20.1055%1/13/020,267
19.1044%0/00/022,577
16.1050%0/10/022,084
15.1049%0/10/223,161

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: 0, last 30 days: 9 (6 positive) across tracked channels, broker research and shows. 26 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

20.10.26AGM / Board★ Решения совета директоров (наблюдательного совета)
Совет директоров ПАО «Татнефть» единогласно утвердил бюджет на ноябрь 2026 года и принял прогноз финансово-хозяйственной деятельности на 2027 год. Также изменена денежная оценка существенной сделки на сумму 167,8 млрд. руб., что составляет 10,74% балансовой стоимости активов. Существенные сделки могут быть совершены на сумму до 356,2 млрд. руб., что составляет 22,8% балансовой стоимости активов.
25.09.26AGM / Board★ ▲ Решения общих собраний участников (акционеров)
На внеочередном собрании акционеров ПАО «Татнефть» принято решение о выплате дивидендов за 6 месяцев 2026 года в размере 32,88 руб. на акцию. Также утверждены новые редакции Устава и ряда положений, а также одобрен договор поручительства на сумму 245,7 млрд. руб.
26.06.26Material eventИнформация об иных событиях (действиях), оказывающих, по мнению эмитента, существенное влияние на стоимость или котировки его ценных бумаг
25 июня 2026 года общее собрание акционеров ПАО «Татнефть» утвердило годовой отчет за 2025 год. Годовой отчет будет опубликован на сайте эмитента.

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, ≈4,0 млрд ₽ combined. Last month: added — 12, entered top-10 — 3.

FundManagerWeight≈PositionΔ weight m/mDisclosure
AKIE Альфа-Капитал Управляемые акции с выплатой доходаАльфа-Капитал8.52%31 млн ₽+0.78 pp31.08.2026
BCSR БКС Индекс Российского рынкаБрокеркредитсервис7.58%26 млн ₽+0.93 pp31.08.2026
TRND Т-Капитал Трендовые акцииТ-Капитал7.34%36 млн ₽+2.04 pp31.08.2026
AKME Альфа-Капитал Управляемые акцииАльфа-Капитал7.08%1,0 млрд ₽+0.92 pp31.08.2026
SBPS Первая – Фонд Моя цель 2035Первая6.84%9 млн ₽+1.04 pp31.08.2026
AMRE АТОН – Российские акции +Атон-менеджмент6.27%55 млн ₽+1.37 pp31.08.2026
TMOS Т-Капитал Индекс МосБиржиТ-Капитал5.77%861 млн ₽+0.64 pp31.08.2026
SBMX Первая - Фонд Топ Российских акцийПервая5.75%1,2 млрд ₽+0.82 pp31.08.2026
EQMX ВИМ - Индекс МосБиржиВИМ Инвестиции5.71%760 млн ₽+0.78 pp31.08.2026
DIVD ДОХОДЪ Индекс дивидендных акций (new)ДОХОДЪ4.21%43 млн ₽+4.21 pp31.08.2026
AKUP Альфа-Капитал Умный портфельАльфа-Капитал4.18%13 млн ₽—31.08.2026
SBRI Первая - Фонд Ответственные инвестиции (new)Первая3.96%6 млн ₽+3.96 pp31.08.2026
SCFT Технологии будущего (new)Доверительная3.77%0 млн ₽+3.77 pp31.08.2026

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 Tatneft — from primary filings.

Frequently asked questions

What is Tatneft's P/E ratio?
Tatneft trades at a P/E of 8.4x (price to trailing 12-month earnings).
What is Tatneft's EV/EBITDA?
Tatneft trades at 2.9x EV/EBITDA.
What is Tatneft's P/B ratio?
Tatneft trades at a P/B of 1.1x.
What is Tatneft's dividend yield?
Tatneft's trailing 12-month dividend yield is 8.5%.
What is Tatneft's return on equity (ROE)?
Tatneft's ROE is -0.6%.
What is Tatneft's market capitalization?
Tatneft's market cap is 1443.2 bn RUB.

See also: The Cheapest Stocks in the World (2026): What Value Investing Says About Buying Cheap · global valuation map