Frontierby eninvs

Language: EN · RU

← Region

Transneft (pref) (TRNFP) RUB

At a glance: strengths & risks
✓Net cash balance sheet✓Cheaper than own history (EV/EBITDA 1.1 vs avg 1.5)✓Dividend yield above fair (19% vs 11%)✗Profit falling (-20%)✗Margins compressing (36%→34%)

Sector: Oil & Gas

RU_TRNFP

Price chart

1 056.4 RUBDay 1.64%

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
1 056.4 RUB · 1.64%
Market cap
765.9 bn RUB

Growth

Δ revenue y/y
-0.1%
Δ EBITDA y/y
-2.4%

Multiples

P/E (LTM)
3.3x
3y avg: 3.5x
P/B (FY)
0.3x
P/E (ann.)
2.5x
EV/EBITDA (LTM)
1.1x
3y avg: 1.5x
EV/EBITDA (ann.)
0.8x

Cash return

Dividend yield
14.4%
FCF yield (LTM)
12.5%

Liquidity

Daily turnover (MOEX)
908 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.

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
2026-03-31Q1 2026 (3M)OK361.2
y/y -0.1%
96.7
y/y -2.4%
58.2
y/y -2.3%
154.9
y/y -2.4%
77.0
y/y -8.6%
94.6-76.83728.9
y/y -1.2%
3080.3
y/y 2.1%
10.1%-243.5Report (PDF)
2025-12-31Q4 2025 (3M)OK360.5
y/y -0.4%
-21.2
y/y -152.0%
59.4
y/y 3.8%
38.2
y/y -61.1%
-3.4
y/y -109.3%
171.9-113.03702.4
y/y 0.3%
3003.2
y/y 2.6%
8.0%-206.7Report (PDF)
2025-09-30Q3 2025 (3M)OK360.3
y/y 4.5%
82.6
y/y 38.9%
59.0
y/y 2.5%
141.6
y/y 21.0%
83.1
y/y -2.5%
137.9-84.43715.2
y/y —
3035.5
y/y —
3.7%-127.3Report (PDF)
2025-06-30Q2 2025 (3M)OK357.9
y/y 2.8%
89.3
y/y 12.1%
59.5
y/y 1.7%
148.7
y/y 7.7%
77.2
y/y -2.9%
60.7-80.43831.0
y/y 1.6%
2954.4
y/y 5.2%
10.3%-192.3Report (PDF)
2025-03-31Q1 2025 (3M)OK361.6
y/y -2.0%
99.1
y/y -3.1%
59.5
y/y 3.4%
158.6
y/y -0.8%
84.2
y/y -14.3%
68.5-79.03775.6
y/y 1.0%
3016.3
y/y 5.3%
11.3%-159.6Report (PDF)
2024-12-31Q4 2024 (3M)OK362.1
y/y 3.7%
40.9
y/y -26.7%
57.2
y/y -14.6%
98.1
y/y -20.1%
37.0
y/y -38.3%
200.8-129.93691.0
y/y 1.0%
2928.0
y/y 6.5%
—-168.7Report (PDF)
2024-09-30Q3 2024 (3M)PARTIAL344.6
y/y —
59.4
y/y —
57.5
y/y —
117.0
y/y —
85.2
y/y —
62.8-81.9—
y/y —
—
y/y —
—-221.0Report (PDF)
2024-06-30Q2 2024 (3M)OK348.1
y/y 7.9%
79.7
y/y -12.0%
58.4
y/y 9.2%
138.1
y/y -4.1%
79.6
y/y -17.3%
110.5-76.73769.1
y/y 4.1%
2809.6
y/y 7.3%
11.2%-273.3Report (PDF)
2024-03-31Q1 2024 (3M)OK369.1
y/y 17.5%
102.3
y/y 7.1%
57.6
y/y 5.9%
159.8
y/y 6.7%
98.2
y/y 7.5%
75.2-63.13738.5
y/y 2.3%
2864.6
y/y 4.2%
14.0%-249.2Report (PDF)
2023-12-31Q4 2023 (3M)OK349.1
y/y —
55.8
y/y —
67.0
y/y —
122.8
y/y —
59.9
y/y —
195.4-78.53654.5
y/y —
2748.8
y/y —
11.5%-213.9Report (PDF)
2023-09-30Q3 2023 (3M)OK20.9
y/y —
-22.6
y/y —
9.0
y/y —
-13.6
y/y —
158.2
y/y —
160.5-112.93588.1
y/y —
2711.4
y/y —
12.7%-100.6Report (PDF)
2023-06-30Q2 2023 (3M)OK322.5
y/y —
90.5
y/y —
53.5
y/y —
144.0
y/y —
96.2
y/y —
68.4-55.03619.5
y/y —
2617.3
y/y —
14.3%-173.2Report (PDF)
2023-03-31Q1 2023 (3M)OK314.2
y/y —
95.4
y/y —
54.4
y/y —
149.8
y/y —
91.4
y/y —
71.2-117.63654.5
y/y —
2748.8
y/y —
—-136.5Report (PDF)

Revenue & EBITDA

RevenueEBITDA

Quarterly values (₽ mln)

0200 000400 000600 000800 0001 000 0002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Year-over-year change

-100%-75%-50%-25%0%25%2023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Cash flow

FCF (₽ mln)

-100 0000100 000200 000300 0002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Net debt / cash (₽ mln)

-300 000-200 000-100 00002023 q42024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q1

Revenue growth & acceleration

Growth decelerating ▼
Last-year revenue growth +1% vs +7% the year before — a -5.8 pp move. 3-year CAGR +6%.
revenue growth by year: 2023 +10% · 2024 +7% · 2025 +1%
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).

Dividend potential

Dividend-model upside: +88%

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)241 bn RUB
Payout ratio50%
Free cash flow (FY, OCF − capex) — not a cap (leverage -0.4x)82 bn RUB
Recent actual dividend (3-yr median)198.25 ₽
= Forecast dividend per share198.25 ₽
2 · Fair yield (spread to key rate)
CBR key rate14.2%
Historical yield spread to rate (3-yr median)-3.8 pp
= Fair dividend yield10.8%
3 · Valuation → upside
Current price1031 ₽
Forecast dividend yield19.2%
Fair price (dividend-based)1943 ₽

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

Dividend history

Pay yearDividend /sh
2025198.25 ₽
2024177.20 ₽
2023166.65 ₽
2022147.18 ₽
2021129.09 ₽
2020105.24 ₽
2019107.06 ₽
201875.78 ₽
Payments by period
PeriodEx-date/sh
2025 q32025-07-16198.25 ₽
2024 q32024-07-18177.20 ₽
2023 q32023-07-18166.65 ₽
2022 q32022-07-18147.18 ₽
2021 q32021-07-20129.09 ₽
2020 q32020-07-21105.24 ₽
2019 q32019-07-17107.06 ₽
2018 q32018-07-0675.78 ₽
2017 q32017-09-1581.72 ₽
2016 q32016-07-188.23 ₽

Dividends

No dividend rows found for this issuer.

Corporate events

17.07.26Filing★ ▲ Дата определения (фиксации) лиц, имеющих право на осуществление прав по ценным бумагам эмитента
ПАО «Транснефть» объявило о дате фиксации прав акционеров на получение дивидендов 20.07.2026. Дивиденды будут выплачены по привилегированным и обыкновенным акциям, зарегистрированным с 1996 по 2018 годы.
17.07.26Filing★ ▲ Решения единственного акционера (участника)
ПАО «Транснефть» утвердило годовой отчет и финансовую отчетность за 2025 год, распределив чистую прибыль в размере 145,2 млрд. руб., из которых 145,2 млрд. руб. направлено на дивиденды. Дивиденды составят 148 млрд. руб., по 204,17 руб. на акцию для обоих типов акций. Также выбраны новые члены совета директоров и ревизионной комиссии.
22.06.26AGM / BoardРешения совета директоров (наблюдательного совета)
Совет директоров ПАО «Транснефть» принял решение дать согласие на сделку с заинтересованностью. Кворум для принятия решения имелся. Заседание состоялось 17.06.2026.

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 2 of 17 funds, ≈72 млн ₽ combined.

FundManagerWeight≈PositionΔ weight m/mDisclosure
DIVD ДОХОДЪ Индекс дивидендных акцийДОХОДЪ6.95%63 млн ₽—29.05.2026
GROD ДОХОДЪ Индекс акций ростаДОХОДЪ5.37%9 млн ₽—29.05.2026

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.

Investment-community mentions

Substantive mentions last 7 days: 5 (4 positive), last 30 days: 7 (6 positive) across tracked channels, broker research and shows. 15 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.

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 Transneft (pref) (TRNFP) — from primary filings.

TRNFP is the ticker for Transneft, a Russian state-owned company that operates the country's main crude oil and petroleum product pipeline network.

Frequently asked questions

What is Transneft (pref) (TRNFP)'s P/E ratio?
Transneft (pref) (TRNFP) trades at a P/E of 3.3x (price to trailing 12-month earnings).
What is Transneft (pref) (TRNFP)'s EV/EBITDA?
Transneft (pref) (TRNFP) trades at 1.1x EV/EBITDA.
What is Transneft (pref) (TRNFP)'s P/B ratio?
Transneft (pref) (TRNFP) trades at a P/B of 0.3x.
What is Transneft (pref) (TRNFP)'s dividend yield?
Transneft (pref) (TRNFP)'s trailing 12-month dividend yield is 14.4%.
What is Transneft (pref) (TRNFP)'s return on equity (ROE)?
Transneft (pref) (TRNFP)'s ROE is 10.1%.
What is Transneft (pref) (TRNFP)'s market capitalization?
Transneft (pref) (TRNFP)'s market cap is 765.9 bn RUB.