(FREE report)


28 December 2018

What readers said about this report

Quite possibly the most in-depth overview ever written about Gazprom, with a view to assessing Gazprom shares as an investment. The share is listed in London, New York, Berlin Frankfurt, and Moscow; i.e., anyone can easily buy and sell the share through any broker.

P/E of 4

The share price of this company has been badly affected by the current Russia Hysteria. It is one of the few major publicly listed companies that are trading at a low single-digit price-earnings ratio.

Dividend yield >6%

There are some surprise facts to be learned about Gazprom’s return on equity and its dividend policy. For 2019, a significant increase in dividend is already on the cards. The 2020s will likely see Gazprom shareholders receive an unprecedented amount of dividends.

“Russia is one of the world’s best macro economic plays”

This isn’t our quote, but that of a bond fund manager. A recent Gazprom bond issue in London was three times oversubscribed, testament to how there is a huge difference between the prevalent media spin and the financial reality of the country.

Time for bottom fishing?

This website doesn't advise on market timing. However, Gazprom appears to be a company that investors should add to their radar screen (and I outline several potential strategies for timing an investment).


Gazprom’s evolution since the 1990s, and why its 30th anniversary in 2019 will provide a turning point.


In-depth overview of its sprawling empire, including many aspects that you wouldn’t read about in the mainstream media.


Putin will use Gazprom as a weapon, but in a different way than you were made believe.

|  What readers said about this report

Markus W.
September 2021

Now the other analysts are coming out of the woodwork and praising Gazprom. You can rightly praise yourself for having known it beforehand.

Carlos Eduardo P.
September 2021

The Gazprom company always piqued my curiosity, but as the report was from 2018, I ended up leaving it for later.

This last week, I finished reading and that's why I come here to praise the quality of the information provided, mainly because I come from a country where a lot of information is either left out by the media or is not easily available.

Swen, thanks again for the opportunity to be a part of your followers.

You are an inspiration!!

Luis M. S. H.
June 2021

I'm actually familiar with your (excellent) work. I remember reading your work on Gazprom a few years ago. We even bought Gazprom back then for ourselves and also to some clients. We are holding tight to those stocks, it's still probably the cheapest large-cap stock in the world. So, thank you for that!

Manuel P.
June 2021

It looks like Gazprom is finally going up. Another one I will continue accumulating because it is still dirt cheap.

Vanes N.
June 2021

I've subscribed a while ago and plan to resubscribe soon, but a few of your tips have netted me quite a decent sum, especially good old Gazprom. 🙂

Steve P.
May 2021

Great email today on Gazprom, couldn't agree more on its bright future! In addition to everything else they have going on, I think their Amur plants helium production could be another massive boost that is currently not priced into its business once it comes online. The infrastructure Gazprom is currently building is just of phenomenal scale! Thankfully Russia's quick actions were able to avert the plans for a war in the Donbass - though it means the expected 'Russia is evil' crash of Russia's stocks I was expecting won't eventuate yet.

David S.
April 2021

It is really great that you were right on point with the Porsche AG and Gazprom shares!

Julius G.
March 2021

I really liked the Just Eat and, above all, the Twitter analysis, and I have invested in both companies. I find it amazing how you published the report on Twitter shortly before the rally, similar to Gazprom at the end of 2018. Respect!

Marko H.
February 2021

Regardless of whether it's Twitter, Porsche, Gazprom or (company name hidden by, your reports are really great and regularly get me in front of the wave.

Michal B.
February 2021

Thanks for the recent updates, especial on Gazprom my first and so far most succesful investement.

Aaron W.
January 2021

And thanks again for all your great investigative-style analyses. I've been riding with you on (company name hidden by and Gazprom too – I missed the first Gazprom window (though that's how I found you) but bought a bit in early Q4. I also took a small (company name hidden by stake in 2019, then your insights and corroboration on it through the crisis helped me meaningfully increase the position near the lows last year. So thank you!!

Wulf S.
January 2021

I’m always happy to get news from Undervalued Shares, because it always opens up new horizons. It's not like I jump on it every time and buy straight away (e.g. not (company name hidden by, but things like (company name hidden by, Gazprom, Twitter or Just Eat are also mega-interesting from a content point of view and of course convey a depth of information that one would normally never get without very deep research. Keep it up!

Matthias R.
November 2020

I opened a small position for Gazprom when it was lower than you initial analysis and are up 3 times more than your newsletter costs yearly.

Anders B. I.
October 2020

Saw you first when you analyzed gazprom with Sven Carlin - liked it alot. After being value investing for 3 years, Swen Lorenz is one of my go-to private investment analysers.

September 2020

I really enjoyed your report on Gazprom. I thought it was inspired.

Silvano A.
May 2020

I have read your report on Gazprom with interest. There are indeed interesting ideas.

Chris P.
April 2020

I especially enjoyed your reports on Porsche Automobile Holding SE, Gazprom and (company name hidden by

Sebastian G.
April 2020

I've already had Gazprom in my portfolio and will continue to buy. However, I've only just come across IAG and Porsche because of your work and would like to thank you for it.

Thomas T.
March 2020

So far, I've implemented four of your investment ideas myself. I have since sold Gazprom and (company name hidden by Those were great trades!

Tyler K.
October 2019

Thank you for your fantastic service, I have already made enough from Gazprom to continue subscribing to your service for the next several years.

August 2019

I couldn't resist the Gazprom report and bonus report. Nowhere else did I find that much information on this topic. That's how I became a Member of yours. It's fun. I like your business model and your approach.

Tyler H.
August 2019

Unrivaled value for retail investors in your reports. Gazprom actually helped me pay off one of my student loans, which I've been struggling with for a while. Your work is changing lives.

Rüdiger S.
July 2019

I became aware of you and your website through the videos with Jens Rabe - which I sometimes watch depending on the topic - and have been your paying customer for some time because I have invested heavily in both Gazprom and Porsche SE for many years. I found it interesting to meet someone who apparently has a similar nose and is also waiting for Mr. Market to wake up …..

Thomas N.
July 2019

[...] Thanks to you, I also got into Gazprom (unfortunately too little) and (company name hidden by (unfortunately just after the mega dividend) and can already report some nice book profits on these positions! […]

Tyler K.
July 2019

I heard about you from the video you did with Sven Carlin about Gazprom (ironically enough, you mention on your site that everyone's heard of Gazprom, not here in Canada!) and I've since invested a small position towards them, so thank you for your research!

Steve P.
June 2019

Your Gazprom report in particular resonates with me and I am currently reading up on books detailing the history of oil and energy on world geopolitics.

Frank B.
January 2019

The latest report on Gazprom is once again brilliantly worked out and very readable, like all research publications in the past.

Andreas S.
December 2018

Your Gazprom report, for example, turned out really well and an exciting and entertaining read as always. Congratulations! 

Andreas S.
December 2018

A fascinating and very interesting report!

Alfred R.
December 2018

Good to read longer reports from you again, a pleasure as always!

l  Report updates

Not a Member yet? Sign up for a Membership.
Already a Member? Log into your account to download the report updates.

12 September 2022

Report Update (PDF - 0.1MB)

18 July 2022

Report Update (PDF - 0.6MB)

13 April 2022

Report Update (PDF - 1.2MB)

1 March 2022

Report Update (PDF - 0.3MB)

4 November 2021

Report Update (PDF - 0.2MB)

3 September 2021

Report Update (PDF - 0.7MB)

20 July 2021

Report Update (PDF - 0.2MB)

17 May 2021

Report Update (PDF - 1.3MB)

16 February 2021

Report Update (PDF - 0.9MB)

15 February 2021

Report Update (PDF - 1.1MB)

12 August 2019

Report Update (PDF - 0.8MB)

23 May 2019

Bonus Report:
The coming end of Gazprom's pipeline export monopoly? (PDF, 0.6MB)

20 May 2019

Report Update (PDF - 0.2MB)

Get my best investment ideas each year

Join my global audience (Members from over 80 countries!) for hard-hitting investment research that you won’t find anywhere else.

Unlimited access to in-depth investment reports and regular updates - for just USD 49/year, or USD 999/lifetime.

Copyright 2021 - Undervalued Shares. All rights reserved. | Privacy Policy | Cookies | Terms & Conditions

Most recent

Latest reports (for Members only)

Laggard turning growth stock

Laggard turning growth stock

This European market leader has a 3x-5x upside over the coming 3-5 years if new management gets its growth engines revved up again. Will it?

Undervalued liquidation case

Undervalued liquidation case

This London-listed stock could throw off 3-3.5x the current share price. Funds specialised in complex special situations have already taken note.

Mid-cap bid target

Mid-cap bid target

The company's CEO and COO have been given a strong financial incentive to at least double the share price by mid-2026. They are likely to succeed.