Russia’s top 10 companies by revenue are led by energy giants Gazprom, Lukoil, and Rosneft, alongside financial services provider Sberbank and retail company Magnit. These companies contribute to Russia’s economic output and play a significant role in their respective industries. Figures below reflect full-year 2024 (FY2024) results, the latest complete audited fiscal year reported by these companies. Ruble figures are converted to U.S. dollars at the average 2024 exchange rate of approximately 92.8 RUB/USD.
1. Gazprom
Industry: energy
Revenue (FY2024): approximately $115,300 Million (RUB 10.7 trillion)
Stock symbol: GAZP.ME
Gazprom, founded in 1989, is headquartered in Moscow, Russia. It operates in more than 30 countries worldwide, making it one of the largest energy companies globally. Gazprom’s main activities revolve around the exploration, production, and distribution of natural gas and oil. It also provides a wide range of services, including transportation, storage, and marketing of energy resources. Gazprom is known for prominent brands such as Gazprom Neft, Gazprom Export, and Gazprombank. Gazprom Group’s revenue rose about 25% in 2024 to RUB 10.7 trillion, and the company returned to a net profit of RUB 1.219 trillion after a loss in 2023, according to TASS reporting on its 2024 IFRS results.
2. Lukoil
Industry: energy
Revenue (FY2024): approximately $92,900 Million (RUB 8.62 trillion)
Stock symbol: LKOH.ME
Lukoil is a multinational energy corporation headquartered in Moscow, Russia. It was founded in 1991. The company operates in multiple countries worldwide. Lukoil is primarily engaged in the exploration, production, refining, and marketing of oil and gas. It also offers a wide range of petroleum products and services. For FY2024, Lukoil’s sales rose roughly 9% to about RUB 8.62 trillion, while net income fell about 26.5% to RUB 848.5 billion amid higher taxes and asset impairments, per Lukoil’s reported full-year 2024 results.
3. Rosneft
Industry: energy
Revenue (FY2024): approximately $109,200 Million (RUB 10,139 billion)
Stock symbol: ROSN.ME
Rosneft is a Russian oil company headquartered in Moscow, founded in 1993. It operates across multiple countries. The company’s main activities revolve around the exploration, production, refining, and marketing of oil and gas. Rosneft is known for its diverse range of products including crude oil, natural gas, petroleum products, and petrochemicals. Rosneft reported record FY2024 revenue of RUB 10,139 billion, up 10.7% year-on-year, though net profit attributable to shareholders fell 14.4% to about RUB 1.08 trillion, according to its official full-year 2024 IFRS results.
4. Sberbank
Industry: financial services
Net profit (FY2024): RUB 1.58 trillion (approximately $17,000 Million); operating income before provisions about RUB 3.5 trillion
Stock symbol: SBER.ME
Sberbank, headquartered in Moscow, Russia, was founded in 1841. Sberbank’s main activities include providing banking and financial services, such as retail and corporate banking, investment banking, and asset management. It offers a wide range of products and services, including loans, deposits, insurance, and payment solutions. As a bank, Sberbank’s scale is best captured by profit rather than sales revenue: its FY2024 IFRS net profit rose 4.8% to a record RUB 1.58 trillion, with a 24% return on equity, according to AKM reporting on its 2024 IFRS results. Sberbank remains a leader in digital banking and fintech in Russia.
5. Magnit
Industry: retail
Revenue (FY2024): approximately $32,800 Million (RUB 3.04 trillion)
Stock symbol: MGNT.ME
Magnit is a retail company headquartered in Krasnodar, Russia, founded in 1994. It operates thousands of stores across Russia. Magnit’s main activities include the sale of food and consumer goods, offering a wide range of products to its customers. The company also operates formats such as Magnit Cosmetics and Magnit Pharmacy. Magnit’s FY2024 revenue rose 19.6% to RUB 3.04 trillion, while IFRS net profit fell about 24% to RUB 44.3 billion, according to its reported 2024 results.
6. Nornickel
Industry: mining
Revenue (FY2024): approximately $12,500 Million (USD as reported)
Stock symbol: GMKN.ME
Nornickel is headquartered in Moscow, Russia, and was founded in 1993. The company is primarily engaged in the mining and production of nickel, palladium, platinum, and copper. It is known for brands such as Norilsk Nickel and the Polar Division. Nornickel’s consolidated revenue fell 13% in 2024 to USD 12.5 billion, and EBITDA declined 25% to USD 5.2 billion amid lower nickel and palladium prices, according to its full-year 2024 audited IFRS results.
7. Tatneft
Industry: energy
Revenue (FY2024): approximately $21,500 Million (RUB 2.0 trillion)
Stock symbol: TATN.ME
Tatneft is headquartered in Almetyevsk, Russia, and was founded in 1950. Tatneft is primarily engaged in the exploration, production, and refining of crude oil and petroleum products. The company also provides services including drilling, well workover, and oilfield construction, and operates the TANECO refining complex. Tatneft’s FY2024 revenue rose about 28% to RUB 2 trillion, with net income up 6.3% to RUB 306.1 billion, according to its reported 2024 results.
8. Novolipetsk Steel
Industry: steel
Revenue (FY2024): approximately $10,600 Million (RUB 979.6 billion, NLMK Group IFRS)
Stock symbol: NLMK.ME
Novolipetsk Steel (NLMK), founded in 1934, is headquartered in Lipetsk, Russia. The company’s main activities revolve around the production and distribution of steel products, including hot-rolled and cold-rolled steel sheets, galvanized steel, and long products. NLMK Group’s FY2024 IFRS revenue was about RUB 979.6 billion, while net profit attributable to shareholders fell roughly 42% to RUB 121.8 billion, according to Reuters reporting on its 2024 IFRS results.
9. Novatek
Industry: energy
Revenue (FY2024): approximately $16,700 Million (RUB 1.546 trillion)
Stock symbol: NVTK.ME
Novatek is headquartered in Moscow, Russia, and was founded in 1994. The company is primarily engaged in the exploration, production, and distribution of natural gas, and is a leading player in the liquefied natural gas (LNG) sector. Novatek’s FY2024 total revenues rose 12.7% to RUB 1.546 trillion, with normalized EBITDA (including joint ventures) up 13.2% to RUB 1.008 trillion, according to its full-year 2024 IFRS results.
10. Surgutneftegas
Industry: energy
Revenue (FY2024): approximately $40,600 Million (RUB 3.77 trillion, RAS)
Stock symbol: SNGS.ME
Surgutneftegas is a Russian oil and gas company headquartered in Surgut, Russia. It was founded in 1993. The company operates primarily in Russia and is engaged in the exploration, production, refining, and sale of oil and gas. Surgutneftegas reported FY2024 revenue of about RUB 3.77 trillion under Russian accounting standards, with net profit of RUB 923.3 billion, down 30.8% year-on-year, according to Interfax reporting on its results.
The combined revenue of the listed companies (FY2024) is on the order of $440 billion, based on the figures above.
Sources:
- Company full-year 2024 IFRS/RAS financial statements and reputable financial press (TASS, Reuters, Interfax, AKM, MarketScreener), 2024-2025
- USD/RUB conversions at the average 2024 exchange rate of ~92.8 RUB/USD
Last updated: June 19, 2026
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