PETRONAS Gas Berhad

KLSE:PETGAS Stock Report

Market Cap: RM 36.5b

PETRONAS Gas Berhad Valuation

Is PETGAS undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Future Cash Flow Value

What is the Fair Price of PETGAS when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: PETGAS (MYR18.26) is trading below our estimate of future cash flow value (MYR21.3)

Significantly Below Future Cash Flow Value: PETGAS is trading below future cash flow value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for PETGAS?

Key metric: As PETGAS is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for PETGAS. This is calculated by dividing PETGAS's market cap by their current earnings.
What is PETGAS's PE Ratio?
PE Ratio20.9x
EarningsRM 1.73b
Market CapRM 36.49b

Price to Earnings Ratio vs Peers

How does PETGAS's PE Ratio compare to its peers?

The above table shows the PE ratio for PETGAS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average15.8x
GASMSIA Gas Malaysia Berhad
18.8x3.82%RM 7.1b
YTLPOWR YTL Power International Berhad
14.3x6.53%RM 31.5b
YTL YTL Corporation Berhad
12.7x21.30%RM 22.8b
TENAGA Tenaga Nasional Berhad
17.5x5.12%RM 82.7b
PETGAS PETRONAS Gas Berhad
20.9x4.89%RM 36.5b

Price-To-Earnings vs Peers: PETGAS is expensive based on its Price-To-Earnings Ratio (20.9x) compared to the peer average (15.8x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does PETGAS's PE Ratio compare vs other companies in the Asian Gas Utilities Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
PETGAS 20.9xIndustry Avg. 14.8xNo. of Companies11PE0816243240+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: PETGAS is expensive based on its Price-To-Earnings Ratio (20.9x) compared to the Asian Gas Utilities industry average (14.8x).

Price to Earnings Ratio vs Fair Ratio

What is PETGAS's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

PETGAS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio20.9x
Fair PE Ratio16.9x

Price-To-Earnings vs Fair Ratio: PETGAS is expensive based on its Price-To-Earnings Ratio (20.9x) compared to the estimated Fair Price-To-Earnings Ratio (16.9x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst PETGAS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentRM 18.26
RM 18.91
+3.56%
6.25%RM 21.81RM 17.70n/a13
Apr ’27RM 18.26
RM 18.92
+3.61%
6.28%RM 21.81RM 17.70n/a13
Mar ’27RM 17.96
RM 18.92
+5.34%
6.28%RM 21.81RM 17.70n/a13
Feb ’27RM 18.38
RM 18.95
+3.08%
6.31%RM 21.81RM 17.70n/a13
Jan ’27RM 18.14
RM 18.95
+4.44%
6.31%RM 21.81RM 17.70n/a13
Dec ’26RM 17.50
RM 18.92
+8.13%
6.23%RM 21.81RM 17.70n/a13
Nov ’26RM 18.50
RM 18.75
+1.37%
7.05%RM 21.81RM 16.80n/a13
Oct ’26RM 18.60
RM 18.75
+0.83%
7.05%RM 21.81RM 16.80n/a13
Sep ’26RM 18.64
RM 18.75
+0.61%
7.05%RM 21.81RM 16.80n/a13
Aug ’26RM 17.88
RM 18.26
+2.13%
5.37%RM 20.21RM 16.80n/a13
Jul ’26RM 17.50
RM 18.29
+4.49%
5.19%RM 20.21RM 16.80n/a14
Jun ’26RM 17.96
RM 18.29
+1.81%
5.19%RM 20.21RM 16.80n/a14
May ’26RM 17.50
RM 18.24
+4.23%
5.28%RM 20.30RM 16.75n/a14
Apr ’26RM 16.88
RM 18.26
+8.18%
5.19%RM 20.30RM 16.75RM 18.2614
Mar ’26RM 17.50
RM 18.27
+4.37%
5.18%RM 20.30RM 16.75RM 17.9614
Feb ’26RM 17.20
RM 18.30
+6.40%
5.26%RM 20.30RM 16.75RM 18.3814
Jan ’26RM 17.68
RM 18.30
+3.51%
5.26%RM 20.30RM 16.75RM 18.1414
Dec ’25RM 17.84
RM 18.44
+3.38%
5.85%RM 20.30RM 16.75RM 17.5013
Nov ’25RM 17.42
RM 18.49
+6.14%
6.74%RM 21.20RM 16.52RM 18.5013
Oct ’25RM 17.98
RM 18.49
+2.83%
6.74%RM 21.20RM 16.52RM 18.6013
Sep ’25RM 18.28
RM 18.49
+1.14%
6.74%RM 21.20RM 16.52RM 18.6413
Aug ’25RM 17.88
RM 18.49
+3.39%
6.64%RM 20.60RM 16.52RM 17.8812
Jul ’25RM 17.76
RM 18.37
+3.45%
6.78%RM 20.60RM 16.52RM 17.5013
Jun ’25RM 18.26
RM 18.37
+0.62%
6.78%RM 20.60RM 16.52RM 17.9613
May ’25RM 18.00
RM 18.35
+1.93%
6.80%RM 20.60RM 16.52RM 17.5013
Apr ’25RM 18.26
RM 18.35
+0.48%
6.80%RM 20.60RM 16.52RM 16.8813
RM 18.91
Fair Value
3.4% undervalued intrinsic discount
13
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/04/14 10:25
End of Day Share Price 2026/04/14 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

PETRONAS Gas Berhad is covered by 23 analysts. 13 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Chee ChowAffin Hwang Investment Bank
Khir GohAmInvestment Bank Berhad
null nullBIMB Securities Sdn. Bhd