Australian (ASX) Oil and Gas Industry Analysis

Industry Valuation and Performance

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

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Fri, 19 Jun 2026	AU$128.5b	AU$102.6b	AU$5.1b	14.3x	25.1x	1.3x
Sun, 17 May 2026	AU$138.3b	AU$102.0b	AU$5.0b	15.8x	27.6x	1.4x
Tue, 14 Apr 2026	AU$148.0b	AU$102.4b	AU$5.0b	17.2x	29.3x	1.4x
Thu, 12 Mar 2026	AU$135.5b	AU$102.2b	AU$5.3b	20.5x	25.4x	1.3x
Sat, 07 Feb 2026	AU$121.1b	AU$108.5b	AU$6.4b	15.2x	18.8x	1.1x
Mon, 05 Jan 2026	AU$113.2b	AU$109.8b	AU$6.8b	13.3x	16.7x	1x
Wed, 03 Dec 2025	AU$115.7b	AU$110.4b	AU$6.9b	13.5x	16.8x	1x
Fri, 31 Oct 2025	AU$114.3b	AU$110.4b	AU$6.9b	13.2x	16.6x	1x
Sun, 28 Sep 2025	AU$112.3b	AU$110.4b	AU$7.1b	13.8x	15.8x	1x
Tue, 26 Aug 2025	AU$120.1b	AU$110.3b	AU$7.7b	13.7x	15.6x	1.1x
Thu, 24 Jul 2025	AU$120.3b	AU$112.1b	AU$8.9b	15.2x	13.5x	1.1x
Sat, 21 Jun 2025	AU$118.1b	AU$112.5b	AU$9.0b	14.5x	13.1x	1x
Mon, 19 May 2025	AU$103.3b	AU$112.9b	AU$9.1b	13.5x	11.3x	0.9x
Wed, 16 Apr 2025	AU$90.9b	AU$113.1b	AU$9.2b	14.5x	9.9x	0.8x
Fri, 14 Mar 2025	AU$101.7b	AU$113.3b	AU$9.2b	14.4x	11.1x	0.9x
Sun, 09 Feb 2025	AU$115.4b	AU$111.9b	AU$7.0b	13.6x	16.5x	1x
Tue, 07 Jan 2025	AU$117.7b	AU$111.8b	AU$6.4b	12.8x	18.4x	1.1x
Thu, 05 Dec 2024	AU$113.7b	AU$111.2b	AU$6.3b	12.7x	18.1x	1x
Sat, 02 Nov 2024	AU$114.4b	AU$110.5b	AU$6.2b	11.5x	18.5x	1x
Mon, 30 Sep 2024	AU$115.8b	AU$109.1b	AU$5.9b	11.1x	19.7x	1.1x
Wed, 28 Aug 2024	AU$122.1b	AU$110.0b	AU$6.0b	9.4x	20.2x	1.1x
Fri, 26 Jul 2024	AU$126.4b	AU$113.0b	AU$7.5b	8.2x	16.9x	1.1x
Sun, 23 Jun 2024	AU$129.1b	AU$112.5b	AU$7.4b	8.3x	17.4x	1.1x
Tue, 21 May 2024	AU$135.0b	AU$112.3b	AU$7.4b	7.4x	18.3x	1.2x
Thu, 18 Apr 2024	AU$136.2b	AU$113.6b	AU$7.6b	7.8x	17.9x	1.2x
Sat, 16 Mar 2024	AU$131.4b	AU$113.7b	AU$7.9b	6.9x	16.6x	1.2x
Mon, 12 Feb 2024	AU$138.4b	AU$129.0b	AU$19.5b	6.1x	7.1x	1.1x
Wed, 10 Jan 2024	AU$137.3b	AU$128.1b	AU$19.1b	5.6x	7.2x	1.1x
Fri, 08 Dec 2023	AU$128.0b	AU$128.9b	AU$19.3b	5.7x	6.6x	1x
Sun, 05 Nov 2023	AU$137.5b	AU$129.2b	AU$19.5b	5.7x	7.1x	1.1x
Tue, 03 Oct 2023	AU$146.1b	AU$129.9b	AU$19.7b	6x	7.4x	1.1x
Thu, 31 Aug 2023	AU$146.1b	AU$130.0b	AU$20.3b	5.4x	7.2x	1.1x
Sat, 29 Jul 2023	AU$144.8b	AU$127.4b	AU$23.1b	6.4x	6.3x	1.1x
Mon, 26 Jun 2023	AU$131.4b	AU$127.3b	AU$23.0b	6.3x	5.7x	1x

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 25.1x which is higher than its 3-year average PE of 15.2x.

The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.3x.

Past Earnings Growth

The earnings for companies in the Oil and Gas industry have declined 39% per year over the last three years,
Revenues have also declined 7.0% 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	3.31%
Energy	-7.69%
Oil and Gas	-7.70%
Coal and Fuels	-3.14%
Oil and Gas Refining and Marketing	-8.80%
Oil and Gas Exploration and Production	-8.99%
Oil and Gas Storage and Transportation	-10.00%

Industry PE

Investors are most optimistic about the Coal and Fuels industry which is trading above its 3-year average PE ratio of 17.2x.

Analysts are expecting annual earnings growth of 21.1%, which is higher than its past year's earnings decline of 63.8% 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 7.1% per year over the next few years.

Top Stock Gainers and Losers

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

Company	Last Price	7D	1Y	Valuation
PDN Paladin Energy	AU$10.02	3.2% +AU$139.3m	36.1%	PS12.7x
DYL Deep Yellow	AU$1.55	9.5% +AU$131.7m	-8.6%	PE816.8x
CXU Cauldron Energy	AU$0.12	106.9% +AU$126.3m	1,233.3%	PS489.8x
AEU Atomic Eagle	AU$0.49	44.1% +AU$58.8m	n/a	PS2999.3x
BMN Bannerman Energy	AU$3.40	8.3% +AU$54.0m	-2.3%	PS54330x

Atomic Eagle Limited Provides Update On Ongoing Exploration Activities At Muntanga Uranium Project

Atomic Eagle Limited provided an update regarding ongoing exploration activities at its 100%-owned Muntanga Uranium Project in Zambia. Resource extension drilling at Chisebuka continues to extend the boundaries of the previously defined uranium mineralisation including: 5.4m @ 422ppm eU3O8 from 47.0m (CHDTH2214), 12.8m at 237ppm eU3O8 from 40.9m (CHDTH2211), 10.3m at 210ppm eU3O8 from 81.4m (CHDTH2231), 7.3m at 284ppm eU3O8 from 47.2m (CHDTH2231). The northern higher-grade zone has increased to 900m x 600m and the south-west zone has increased to 830m x 400m. Drilling has also demonstrated continuity of mineralization between the higher-grade south-west zone and the previously defined resource area. The company will soon commence a reverse circulation drill program at the Chisebuka higher grade zones. Two drill rigs have now been moved to commence the maiden drill program at the Muntanga North exploration target where ground radiometric surveys have now been completed over the first 6 target areas. Access clearance to Namakande 1 and 2 exploration targets is complete with ground radiometrics expected to commence ahead of drilling in Third Quarter 2026. The 2026 drill program is targeting mineralisation outside the existing resource within the broader Chisebuka mineralised footprint where the company announced an Inferred Mineral Resource of 19.9Mt at 220ppm U3O8 for 9.7 Mlb of U3O8 earlier this year. Following the initial 13 drill holes, a further 29 holes are reported in this announcement taking the total drilling at Chisebuka in this program to 42 holes totalling 4,209 metres. More recent drilling was primarily aimed at testing the continuity of mineralization between the South-West higher grade zone and the resource area. Holes were also drilled to test the margins of the resource area and extensions to the southern zone of mineralisation. Recent drilling has increased the size of the northern higher-grade zone with a surface projection now measuring 900m x 600m. The mineralisation extends from surface in the north-west to more than 100m depth in the south-east and is up to 80m thick in the core of the deposit. The south-west zone of higher-grade mineralisation now measures 830m x 400m with mineralisation starting near surface and extending below 100m depth down plunge to the south-east. Mineralization reaches up to 60m thickness in the core of the zone. An RC program of 12 holes for approximately 900m is expected to commence later this month. The program is designed to provide confirmation of grades estimated using a gamma tool. The company expects to undertake a diamond drilling program in Fourth Quarter 2026 for further grade confirmation and to collect core for metallurgical testwork. Uranium grade can be measured indirectly by measuring the radioactivity emitted by the daughter products of uranium during decay, using a gamma tool containing a sodium iodide crystal, which records counts per second when hit by gamma rays. These counts are converted to uranium grade (ppm eU3O8) by applying a K factor, a dead time correction and other correction factors as required such as casing, hole size, mud density. The gamma tool used by Atomic Eagle has been calibrated at the Grand Junction calibration pits by Mt Sopris prior to arrival on site and the tool was run weekly in a lined test hole to test repeatability. Furthermore, the results from the Atomic Eagle logging tool were compared with results from logging contractors Terratec, who logged most of the holes during the last 4 years, and a further calibration factor was applied to the company’s gamma results to be consistent with older data. RC and diamond drill holes will be drilled in future drill programs and the gamma tool will be verified against the assay data to confirm the results. Ground radiometric surveys are continuing with 6 of the 8 target areas now completed. Two drill rigs are currently being deployed towards wide-spaced exploration drilling of the Muntanga North targets with results expected in the coming weeks. A bulldozer has been utilised to clear access for the commencement of ground radiometric surveys at both Namakande 1 and Namakande 2. Upon completion of these surveys, the targets will be drill tested in Third Quarter 2026.

Australian (ASX) Oil and Gas Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

Consensus EPS estimates increase by 24%, revenue downgraded

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

Santos Limited Appoints Kate Vidgen as Independent Non-Executive Director Effective 17 June 2026

ALD: Future Returns Will Rely On EG Deal And Energy Transition

Beach Energy (ASX:BPT) Shares Could Be 18% Undervalued After Dividend Cut And Waitsia Spend

Atomic Eagle Limited Provides Update On Ongoing Exploration Activities At Muntanga Uranium Project

WDS: Execution Risks At LNG Projects Will Constrain Future Share Price Upside

PDN: Uranium Supply Shift And Langer Heinrich Ramp-Up Will Support Future Upside

We're Hopeful That Bannerman Energy (ASX:BMN) Will Use Its Cash Wisely

New minor risk - Market cap size

Peninsula Energy Limited has completed a Follow-on Equity Offering in the amount of AUD 36.116115 million.

Whitehaven Coal Signals Reversal as Integration Strengthens Metallurgical Position

Yancoal Australia Shares Lifted by Global Coal Supply Shortages and Higher Prices

NHC: Lower Interim Dividend Will Limit Appeal Despite Higher Margin Outlook

New minor risk - Share price stability

New major risk - Shareholder dilution