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Australian (ASX) Oil and Gas Industry Analysis

UpdatedAug 24, 2026
DataAggregated Company Financials
Companies103
  • 7D3.4%
  • 3M3.6%
  • 1Y19.2%
  • YTD26.0%

In the last week, the Oil and Gas industry is up 3.4%, with Woodside Energy Group up 1.9%. Meanwhile, Eclipse Metals actually underperformed within the industry, shrinking 20% in the last week. This takes the industry's 12 month performance to a gain of 19%. As for the next few years, earnings are expected to grow by 11% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 25 Aug 2026AU$144.3bAU$102.6bAU$4.7b15.9x30.5x1.4x
Thu, 23 Jul 2026AU$136.6bAU$102.6bAU$5.1b15.1x26.6x1.3x
Sat, 20 Jun 2026AU$129.0bAU$102.5bAU$5.1b14.3x25.2x1.3x
Mon, 18 May 2026AU$138.3bAU$102.0bAU$5.0b15.8x27.6x1.4x
Wed, 15 Apr 2026AU$148.4bAU$102.1bAU$5.0b16.9x29.7x1.5x
Fri, 13 Mar 2026AU$138.8bAU$102.3bAU$5.3b20.9x25.9x1.4x
Sun, 08 Feb 2026AU$121.1bAU$108.4bAU$6.4b15.3x18.9x1.1x
Tue, 06 Jan 2026AU$112.9bAU$109.8bAU$6.8b12.8x16.7x1x
Thu, 04 Dec 2025AU$116.2bAU$110.2bAU$6.9b13.6x16.9x1.1x
Sat, 01 Nov 2025AU$114.8bAU$110.5bAU$6.9b13x16.6x1x
Mon, 29 Sep 2025AU$112.3bAU$110.4bAU$7.1b13.8x15.8x1x
Wed, 27 Aug 2025AU$121.7bAU$110.9bAU$7.3b14.4x16.6x1.1x
Fri, 25 Jul 2025AU$119.6bAU$112.0bAU$8.9b15.3x13.4x1.1x
Sun, 22 Jun 2025AU$118.1bAU$112.5bAU$9.0b14.5x13.1x1x
Tue, 20 May 2025AU$100.9bAU$112.7bAU$9.1b13.3x11.1x0.9x
Thu, 17 Apr 2025AU$88.7bAU$113.0bAU$9.2b13.5x9.7x0.8x
Sat, 15 Mar 2025AU$101.6bAU$113.2bAU$9.2b16.8x11.1x0.9x
Mon, 10 Feb 2025AU$115.4bAU$111.9bAU$7.0b13.6x16.5x1x
Wed, 08 Jan 2025AU$118.0bAU$111.8bAU$6.4b12.7x18.4x1.1x
Fri, 06 Dec 2024AU$113.1bAU$111.1bAU$6.3b12.7x18x1x
Sun, 03 Nov 2024AU$114.3bAU$110.6bAU$6.2b11.5x18.5x1x
Tue, 01 Oct 2024AU$118.8bAU$109.1bAU$5.9b11.4x20.2x1.1x
Thu, 29 Aug 2024AU$120.2bAU$110.0bAU$6.0b10.2x19.9x1.1x
Sat, 27 Jul 2024AU$127.4bAU$112.9bAU$7.5b7.8x17x1.1x
Mon, 24 Jun 2024AU$129.1bAU$112.5bAU$7.4b8.3x17.4x1.1x
Wed, 22 May 2024AU$135.3bAU$112.4bAU$7.4b7.9x18.3x1.2x
Fri, 19 Apr 2024AU$131.6bAU$113.6bAU$7.6b7.7x17.3x1.2x
Sun, 17 Mar 2024AU$131.3bAU$113.7bAU$7.9b6.7x16.6x1.2x
Tue, 13 Feb 2024AU$137.0bAU$129.0bAU$19.5b6.1x7x1.1x
Thu, 11 Jan 2024AU$137.4bAU$128.0bAU$19.1b5.6x7.2x1.1x
Sat, 09 Dec 2023AU$129.3bAU$128.6bAU$19.3b5.7x6.7x1x
Mon, 06 Nov 2023AU$137.5bAU$129.2bAU$19.5b5.7x7.1x1.1x
Wed, 04 Oct 2023AU$146.1bAU$130.1bAU$19.8b5.5x7.4x1.1x
Fri, 01 Sep 2023AU$143.8bAU$130.0bAU$19.8b5.3x7.3x1.1x
Price to Earnings Ratio

7.3x


Total Market Cap: AU$143.8bTotal Earnings: AU$19.8bTotal Revenue: AU$130.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Oil and Gas Industry Price to Earnings3Y Average 16.4x202420252026
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 30.5x which is higher than its 3-year average PE of 16.4x.
  • The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.4x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas industry have declined 38% per year over the last three years,
  • Revenues have also declined 7.6% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

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

AU Market-0.61%
Energy3.37%
Oil and Gas3.37%
Oil and Gas Exploration and Production4.08%
Coal and Fuels2.37%
Oil and Gas Refining and Marketing0.47%
Oil and Gas Storage and Transportation0%0
Industry PE
  • Investors are most optimistic about the Coal and Fuels industry which is trading above its 3-year average PE ratio of 19.2x.
    • Analysts are expecting annual earnings growth of 21.0%, which is higher than its past year's earnings decline of 69.3% per year.
Forecasted Growth
  • Analysts are most optimistic on the Oil and Gas Storage and Transportation industry, expecting annual earnings growth of 61% over the next 5 years.
  • In contrast, the Oil and Gas Exploration and Production industry is expected to see its earnings grow by 7.6% 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
WDS Woodside Energy GroupAU$33.481.9%
+AU$1.2b		24.7%PE16.8x
STO SantosAU$8.262.6%
+AU$673.9m		5.8%PE26.1x
PDN Paladin EnergyAU$11.7010.9%
+AU$516.8m		68.1%PS15.2x
ALD AmpolAU$41.574.7%
+AU$445.6m		40.2%PE6.7x
WHC Whitehaven CoalAU$8.094.3%
+AU$271.4m		20.2%PE17.3x

Latest News

ALD
AU$41.57
Ampol
7D
4.7%
1Y
40.2%
PDN
AU$11.70
Paladin Energy
7D
10.9%
1Y
68.1%
STO
AU$8.26
Santos
7D
2.6%
1Y
5.8%
Narrative Update • Aug 21

STO: Fair Outlook As Papua LNG And Alaska Oil Underpin Rebased Expectations

Analysts have raised their Santos price target by A$0.23, reflecting updated assumptions for fair value, discount rate, revenue growth, profit margin, and a lower future P/E multiple in their models. What's in the News for Santos Santos is targeting a final investment decision on the Papua LNG project in Papua New Guinea in the December quarter, following the recent completion of two multibillion dollar projects in Australia and Alaska.
WHC
AU$8.09
Whitehaven Coal
7D
4.3%
1Y
20.2%
VEA
AU$2.85
Viva Energy Group
7D
3.6%
1Y
33.2%
Narrative Update • Aug 18

VEA: Improved Margins And Lower Discount Rate Will Support Higher Future P/E

Analysts have lifted their price target for Viva Energy Group to A$3.58 from A$3.32, citing updated assumptions around discount rates, long term profit margins and future P/E multiples. What’s in the News for Viva Energy Group No major recent news items for Viva Energy Group are available from the provided sources as at 17 Aug 2026.
NHC
AU$5.90
New Hope
7D
5.2%
1Y
33.5%
Narrative Update • Aug 18

NHC: Dividends And Buyback Will Support Fairly Valued Coal Producer

Analysts have adjusted their price target for New Hope to A$15.04 from A$12.69, reflecting updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E expectations. What’s in the News for New Hope No recent company specific news for New Hope is available from the provided sources.
WDS
AU$33.48
Woodside Energy Group
7D
1.9%
1Y
24.7%
Narrative Update • Aug 12

WDS: LNG Project Execution Will Constrain Future Returns Despite Portfolio Streamlining

Analysts have trimmed their A$ fair value estimate for Woodside Energy Group from about A$25.39 to A$24.77. This reflects updated views that factor in a slightly higher discount rate and the projected volume uplift from the Scarborough LNG project, alongside its potential impact on future free cash flow and shareholder returns.
EXR
AU$0.046
Elixir Energy
7D
-8.0%
1Y
27.8%
EPM
AU$0.012
Eclipse Metals
7D
-20.0%
1Y
-61.3%
EMP
AU$0.076
Emperor Energy
7D
-7.3%
1Y
123.5%
Analysis Article • Jul 14

Is Emperor Energy (ASX:EMP) In A Good Position To Invest In Growth?

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FDR
AU$0.36
Finder Energy Holdings
7D
-1.4%
1Y
242.9%
D3E
AU$0.33
D3 Energy
7D
-7.1%
1Y
8.3%
DYL
AU$1.69
Deep Yellow
7D
14.2%
1Y
6.3%
Analysis Article • Jun 19

Deep Yellow (ASX:DYL) Share Price Looks Rich As Uranium Optimism Lifts Interest

Deep Yellow (ASX:DYL) drew fresh attention after its share price rose about 4.8%, a move closely linked to renewed interest in uranium stocks as nuclear energy gains traction as a low emission power source. See our latest analysis for Deep Yellow. That 1 day share price return of 2.99% comes on top of a 26.47% 7 day share price return. However, the year to date share price return is still down 11.57%, while the 3 year total shareholder return of 140.56% and 5 year total shareholder return of...
BLU
AU$0.003
Blue Energy
7D
-25.0%
1Y
-66.7%
GHY
AU$0.54
Gold Hydrogen
7D
-5.3%
1Y
5.9%
IVZ
AU$0.065
Invictus Energy
7D
-3.0%
1Y
22.6%