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Tatneft USD

Update

Re-runs extraction for each period with period-end year from max(2023, current year − 2) through the current year, oldest first (up to three reporting years). This can take a long time.

Sector: Oil & Gas

RU_TATN

Price chart

594.8 RUBDay -1.96%

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
594.8 RUB · -1.96%
Market cap
18.2 bn USD

Growth

Δ revenue y/y
-14.5%
Δ EBITDA y/y
-23.2%

Multiples

P/E (LTM)
8.5x
3y avg: 6.6x
P/B (FY)
1.0x
P/E (ann.)
7.8x
EV/EBITDA (LTM)
—

Cash return

Dividend yield
10.4%
FCF yield (LTM)
—

Liquidity

Daily turnover (MOEX)
335.6 mln 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.

🔍 Sanity check — subtotal consistency (Level-1 + Level-2) OK: 2 / Warn: 7 / Err: 6 / Autofix applied: 0
Port of PHP subtotal-total + sign-flip detection logic
PeriodIssues
2023-03-31 Q1⚠Warn 1
2023-06-30 Q2⚠Warn 4
2023-09-30 Q3✓OK
2023-12-31 FY⚠Warn 1
2023-12-31 Q4✓OK
2024-03-31 Q1✗Errors 2
2024-06-30 Q2✗Errors 1Warn 1
2024-09-30 Q3⚠Warn 1
2024-12-31 FY⚠Warn 2
2024-12-31 Q4✗Errors 1Warn 2
2025-03-31 Q1✗Errors 1
2025-06-30 Q2✗Errors 2Warn 1
2025-09-30 Q3⚠Warn 1
2025-12-31 FY⚠Warn 2
2025-12-31 Q4✗Errors 1Warn 1
✓ All checks pass · ⚠ Has warnings (review) · ✗ Has errors (needs fix) · ✓* Autofix applied (see evidence)

Financial dynamics

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
2025-12-31FY 2025 (12M)OK6.6
y/y -14.5%
1.1
y/y -26.4%
0.3
y/y 26.8%
1.4
y/y -19.1%
0.8
y/y -61.1%
1.2-37.829.9
y/y -3.2%
18.6
y/y -0.4%
—-22.7Link
2025-09-30Q3 2025 (3M)PARTIAL6.6
y/y -14.5%
0.9
y/y -34.7%
0.3
y/y 19.6%
1.2
y/y -27.4%
0.6
y/y 1384.4%
1.0-35.9—
y/y —
—
y/y —
—2.2Link
2025-06-30Q2 2025 (3M)OK6.2
y/y -5.7%
0.8
y/y -43.6%
0.2
y/y 11.5%
1.0
y/y -36.3%
0.4
y/y -64.2%
0.7-33.929.3
y/y -1.0%
17.9
y/y -1.2%
—27.1Link
2025-03-31Q1 2025 (3M)PARTIAL6.2
y/y -5.7%
0.8
y/y -43.6%
0.2
y/y 11.5%
1.0
y/y -36.3%
0.4
y/y -68.5%
0.7-33.9—
y/y —
—
y/y —
—-89.2Link
2024-12-31FY 2024 (12M)OK7.7
y/y 13.9%
1.5
y/y -1.9%
0.2
y/y 11.8%
1.7
y/y -0.3%
2.0
y/y 194.4%
2.6-50.730.9
y/y 7.8%
18.7
y/y 11.1%
—-89.2Link
2024-09-30Q3 2024 (3M)PARTIAL7.7
y/y 13.9%
1.4
y/y 9.6%
0.2
y/y 4.4%
1.6
y/y 8.8%
0.0
y/y -96.0%
2.0-44.8—
y/y —
—
y/y —
—-81.1Link
2024-06-30Q2 2024 (3M)OK6.5
y/y 49.3%
1.4
y/y 25.1%
0.2
y/y -2.7%
1.6
y/y 20.6%
1.1
y/y 3835.2%
1.4-40.229.6
y/y 13.8%
18.1
y/y 8.4%
—-97.3Link
2024-03-31Q1 2024 (3M)PARTIAL6.5
y/y 49.3%
1.4
y/y 25.1%
0.2
y/y -2.7%
1.6
y/y 20.6%
1.2
y/y 16.5%
0.0-38.9—
y/y —
—
y/y —
—-53.4Link
2023-12-31FY 2023 (12M)OK6.8
y/y —
1.5
y/y —
0.2
y/y —
1.7
y/y —
-2.1
y/y —
2.8-71.228.7
y/y —
16.8
y/y —
—-56.7Link
2023-09-30Q3 2023 (3M)PARTIAL6.8
y/y —
1.3
y/y —
0.2
y/y —
1.5
y/y —
1.0
y/y —
1.3-58.3—
y/y —
—
y/y —
—-56.4Link
2023-06-30Q2 2023 (3M)OK4.4
y/y —
1.1
y/y —
0.2
y/y —
1.3
y/y —
0.0
y/y —
-0.2-48.826.0
y/y —
16.7
y/y —
—-95.1Link
2023-03-31Q1 2023 (3M)PARTIAL4.4
y/y —
1.1
y/y —
0.2
y/y —
1.3
y/y —
1.0
y/y —
0.7-48.8—
y/y —
—
y/y —
—-110.5Link
Data quality — review suggested

Production & Reserves

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

Oil & Gas (oil)

Annual production
27.83 Mt
2025

Production

YearProduction, Mt
202527.83
+1.9%
202427.30

Tatneft FY2025 oil production 27.83 Mt (+2% YoY). FY2024 27.3 Mt. Proved reserves not shown (disclosed figures conflate ABC1+C2 — unreliable as a single number).

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

02 0004 0006 0008 0002023 q32023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q4

Year-over-year change

-50%-25%0%25%50%2023 q32023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q4

Cash flow

Net debt / cash ($ mln)

-100 000-75 000-50 000-25 000025 0002023 q32023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q4

Commodity price upside

The same staged build as the commodity players: revenue → costs → EBITDA → conservative EBITDA (min of the spot- and 3-yr-average-price cases) → target market cap at the current EV/EBITDA. Costs held flat (a producer has no commodity on the cost side).

USD/RUB: spot 73 vs LTM-avg 80 → ×0.91 (ruble stronger → less RUB revenue); applied to USD-priced commodities (RUB gold left as-is). Oil & gas upside may be overstated: mineral-extraction tax / export duty rise with price but costs are not re-priced here.

Upside (conservative): +29% · spot +117% · 3-yr +29%

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

1 · Reported baseline (latest FY)
Revenue1.82 trn RUB
EBITDA327.5 bln RUB
Cash costs (revenue − EBITDA)1.49 trn RUB
2 · Revenue projection
Multiplier — spot×1.22 (+22%)
= Spot revenue2.21 trn RUB
Multiplier — 3-yr prices×1.05 (+5%)
= 3-yr-price revenue1.91 trn RUB
3 · Cost projection (held flat)
Cost multiplier×1.00 (+0%)
= Cash costs1.49 trn RUB
4 · EBITDA projection (revenue − costs)
= Spot EBITDA718.8 bln RUB
= 3-yr-price EBITDA422.8 bln RUB
Conservative EBITDA = min(spot, 3-yr)422.8 bln RUB
5 · Valuation → target market cap
EV/EBITDA (current)4.1x
Target EV = EV/EBITDA × conservative EBITDA1.74 trn RUB
Net debt-22.7 bln RUB
Target market cap = EV − net debt1.77 trn RUB
Current market cap1.37 trn RUB

Upside = target market cap ÷ current − 1 = +29%

Product prices — move vs the LTM average; the 'RUB' columns include the USD/RUB move.

CommodityRevenue shareSpotLTM avg$ vs LTMRUB vs LTM (FX)RUB 3-yr (FX)
Brent85%94.6769.09+37%+25%+6%

Dividends

No dividend rows found for this issuer.

Investor reporting (IR): https://www.e-disclosure.ru/portal/files.aspx?id=118

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