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Australian (ASX) Oil and Gas Industry Analysis

UpdatedDec 23, 2025
DataAggregated Company Financials
Companies102
  • 7D-3.2%
  • 3M-0.6%
  • 1Y-2.5%
  • YTD-6.3%

Over the last 7 days, the Oil and Gas industry has dropped 3.2%, driven by Woodside Energy Group declining 6.4%. On the other hand Paladin Energy is actually up 8.7%. Over the last year, the industry has been flat overall. Looking forward, earnings are forecast to grow by 10% annually.

Industry Valuation and Performance

Has the Australian Oil and Gas Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 24 Dec 2025AU$110.5bAU$110.0bAU$6.8b12.7x16.2x1x
Fri, 21 Nov 2025AU$117.2bAU$110.8bAU$7.0b13.5x16.8x1.1x
Sun, 19 Oct 2025AU$107.9bAU$110.7bAU$7.0b12.4x15.5x1x
Tue, 16 Sep 2025AU$114.9bAU$110.1bAU$7.1b13.7x16.2x1x
Thu, 14 Aug 2025AU$121.1bAU$112.5bAU$8.9b13.7x13.6x1.1x
Sat, 12 Jul 2025AU$114.4bAU$112.2bAU$8.9b15.2x12.8x1x
Mon, 09 Jun 2025AU$105.5bAU$112.5bAU$9.0b13.4x11.7x0.9x
Wed, 07 May 2025AU$94.7bAU$112.6bAU$9.1b13.3x10.4x0.8x
Fri, 04 Apr 2025AU$100.7bAU$113.2bAU$9.2b15.6x10.9x0.9x
Sun, 02 Mar 2025AU$109.6bAU$113.7bAU$9.3b13.8x11.8x1x
Tue, 28 Jan 2025AU$117.4bAU$111.8bAU$6.4b13x18.3x1.1x
Thu, 26 Dec 2024AU$111.6bAU$112.1bAU$6.5b11.9x17.3x1x
Sat, 23 Nov 2024AU$115.4bAU$110.8bAU$6.2b13.3x18.6x1x
Mon, 21 Oct 2024AU$116.6bAU$109.9bAU$6.1b11.9x19.2x1.1x
Wed, 18 Sep 2024AU$111.2bAU$109.7bAU$6.0b9.8x18.5x1x
Fri, 16 Aug 2024AU$122.0bAU$112.6bAU$7.1b7.5x17.2x1.1x
Sun, 14 Jul 2024AU$135.8bAU$111.9bAU$7.3b6.3x18.5x1.2x
Tue, 11 Jun 2024AU$130.6bAU$112.8bAU$7.5b8.9x17.5x1.2x
Thu, 09 May 2024AU$133.2bAU$112.9bAU$7.5b6.9x17.8x1.2x
Sat, 06 Apr 2024AU$138.9bAU$112.8bAU$7.5b7.3x18.6x1.2x
Mon, 04 Mar 2024AU$134.7bAU$113.5bAU$7.9b10.8x17.1x1.2x
Wed, 31 Jan 2024AU$141.5bAU$128.7bAU$19.3b6x7.3x1.1x
Fri, 29 Dec 2023AU$136.6bAU$127.3bAU$18.8b5.6x7.3x1.1x
Sun, 26 Nov 2023AU$133.1bAU$128.7bAU$19.3b4.9x6.9x1x
Tue, 24 Oct 2023AU$141.1bAU$130.5bAU$19.9b5.7x7.1x1.1x
Thu, 21 Sep 2023AU$144.9bAU$129.4bAU$19.6b4.8x7.4x1.1x
Sat, 19 Aug 2023AU$145.5bAU$128.0bAU$22.7b7.1x6.4x1.1x
Mon, 17 Jul 2023AU$139.0bAU$126.5bAU$22.7b6.3x6.1x1.1x
Wed, 14 Jun 2023AU$133.0bAU$126.8bAU$22.8b6.3x5.8x1x
Fri, 12 May 2023AU$145.9bAU$129.0bAU$24.0b6.7x6.1x1.1x
Sun, 09 Apr 2023AU$146.9bAU$129.4bAU$24.1b6.9x6.1x1.1x
Tue, 07 Mar 2023AU$156.5bAU$133.2bAU$23.6b7.3x6.6x1.2x
Thu, 02 Feb 2023AU$156.0bAU$98.1bAU$13.7b7.2x11.4x1.6x
Sat, 31 Dec 2022AU$154.7bAU$99.2bAU$14.0b7.2x11x1.6x
Price to Earnings Ratio

11x


Total Market Cap: AU$154.7bTotal Earnings: AU$14.0bTotal Revenue: AU$99.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Oil and Gas Industry Price to Earnings3Y Average 12.6x202320242025
Current Industry PE
  • Investors are optimistic on the Australian Oil and Gas industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 16.2x which is higher than its 3-year average PE of 12.6x.
  • The industry is trading close to its 3-year average PS ratio of 1.1x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas industry have declined 22% per year over the last three years.
  • Meanwhile revenues for these companies have grown 3.4% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

Which industries have driven the changes within the Australian Energy industry?

AU Market0.95%
Energy-3.16%
Oil and Gas-3.16%
Coal and Fuels1.43%
Oil and Gas Storage and Transportation0%0
Oil and Gas Refining and Marketing-2.96%
Oil and Gas Exploration and Production-4.80%
Industry PE
  • Investors are most optimistic about the Coal and Fuels industry which is trading above its 3-year average PE ratio of 12.9x.
    • Analysts are expecting annual earnings growth of 10.8%, which is higher than its past year's earnings decline of 7.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Oil and Gas Refining and Marketing industry, expecting annual earnings growth of 51% over the next 5 years.
  • In contrast, the Oil and Gas Exploration and Production industry is expected to see its earnings grow by 4.1% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
PDN Paladin EnergyAU$9.8715.8%
+AU$606.6m		30.7%PS17.5x
DYL Deep YellowAU$1.9012.8%
+AU$209.4m		70.0%PE257.9x
WHC Whitehaven CoalAU$7.832.0%
+AU$120.8m		29.6%PE10x
BMN Bannerman EnergyAU$3.5516.8%
+AU$105.8m		26.8%PS56650.8x
YAL Yancoal AustraliaAU$4.961.6%
+AU$105.6m		-22.7%PE6.8x

Latest News

BPT
AU$1.17
Beach Energy
7D
3.5%
1Y
-15.8%

Little Excitement Around Beach Energy Limited's (ASX:BPT) Revenues

Dec 23
Little Excitement Around Beach Energy Limited's (ASX:BPT) Revenues
PDN
AU$9.87
Paladin Energy
7D
15.8%
1Y
30.7%

What Paladin Energy Ltd's (ASX:PDN) 30% Share Price Gain Is Not Telling You

Dec 22
What Paladin Energy Ltd's (ASX:PDN) 30% Share Price Gain Is Not Telling You
WHC
AU$7.83
Whitehaven Coal
7D
2.0%
1Y
29.6%

WHC: Future Buybacks And Margin Discipline May Support Balanced Risk Reward Profile

Analysts have nudged their price target for Whitehaven Coal higher, lifting fair value by about A$0.14 per share as they factor in stronger expected revenue growth and slightly improved profit margins, while keeping the discount rate and long term valuation multiples broadly unchanged. Analyst Commentary Analysts covering Whitehaven Coal remain divided on the near term risk reward, balancing solid fundamentals and supportive pricing against execution and macro headwinds that could weigh on earnings quality and valuation multiples.
VEA
AU$2.09
Viva Energy Group
7D
-2.8%
1Y
-20.5%

Viva Energy Group Limited's (ASX:VEA) Share Price Is Matching Sentiment Around Its Revenues

Dec 22
Viva Energy Group Limited's (ASX:VEA) Share Price Is Matching Sentiment Around Its Revenues
STO
AU$6.10
Santos
7D
-0.2%
1Y
-6.6%
BOE
AU$1.32
Boss Energy
7D
-15.7%
1Y
-44.1%
KAR
AU$1.56
Karoon Energy
7D
-1.6%
1Y
20.9%

Karoon Energy Ltd's (ASX:KAR) Business And Shares Still Trailing The Market

Dec 18
Karoon Energy Ltd's (ASX:KAR) Business And Shares Still Trailing The Market
WDS
AU$23.27
Woodside Energy Group
7D
-3.0%
1Y
-3.6%
YAL
AU$4.96
Yancoal Australia
7D
1.6%
1Y
-22.7%
ALD
AU$32.22
Ampol
7D
-1.1%
1Y
17.2%

ALD: Future Earnings Outlook Will Remain Balanced Amid Slight Margin And Growth Assumption Shifts

Analysts have nudged their price target on Ampol slightly higher to approximately A$34.30 from about A$33.90, citing marginally improved profit margin expectations and a modestly lower discount rate, while also tempering long term revenue growth assumptions. Valuation Changes The fair value estimate has risen slightly to around A$34.29 from about A$33.90.
HE8
AU$0.009
Helios Energy
7D
-18.2%
1Y
-18.2%
DYL
AU$1.90
Deep Yellow
7D
12.8%
1Y
70.0%
LOT
AU$0.18
Lotus Resources
7D
12.1%
1Y
0%
IVZ
AU$0.13
Invictus Energy
7D
34.0%
1Y
94.0%
BMN
AU$3.55
Bannerman Energy
7D
16.8%
1Y
26.8%
MCM
AU$0.20
MC Mining
7D
-4.7%
1Y
64.0%