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Australian (ASX) Oil and Gas Industry Analysis

UpdatedAug 05, 2026
DataAggregated Company Financials
Companies102
  • 7D0.7%
  • 3M-3.2%
  • 1Y13.2%
  • YTD20.0%

In the last week, the Oil and Gas industry is up 1.4%, with Woodside Energy Group up 2.0%. In the last 12 months, the industry was up 13%. 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
Wed, 05 Aug 2026AU$137.4bAU$102.5bAU$5.1b15.1x26.9x1.3x
Fri, 03 Jul 2026AU$124.4bAU$103.0bAU$5.2b14.3x23.9x1.2x
Sun, 31 May 2026AU$137.1bAU$101.9bAU$5.0b15.4x27.5x1.3x
Tue, 28 Apr 2026AU$141.2bAU$101.9bAU$5.0b16.9x28.5x1.4x
Thu, 26 Mar 2026AU$144.7bAU$102.7bAU$5.2b16.4x28.1x1.4x
Sat, 21 Feb 2026AU$127.0bAU$107.0bAU$6.1b18.3x20.9x1.2x
Mon, 19 Jan 2026AU$115.4bAU$109.8bAU$6.8b13.1x17.1x1.1x
Wed, 17 Dec 2025AU$111.5bAU$110.0bAU$6.8b13.4x16.4x1x
Fri, 14 Nov 2025AU$117.2bAU$110.4bAU$6.9b13.5x17x1.1x
Sun, 12 Oct 2025AU$109.6bAU$110.7bAU$7.0b13x15.7x1x
Tue, 09 Sep 2025AU$117.4bAU$110.4bAU$7.2b14.7x16.4x1.1x
Thu, 07 Aug 2025AU$121.1bAU$112.7bAU$9.0b14.9x13.5x1.1x
Sat, 05 Jul 2025AU$115.0bAU$112.2bAU$8.9b14.3x12.9x1x
Mon, 02 Jun 2025AU$103.9bAU$112.7bAU$9.1b12.7x11.5x0.9x
Wed, 30 Apr 2025AU$96.7bAU$112.9bAU$9.1b13.4x10.6x0.9x
Fri, 28 Mar 2025AU$104.9bAU$113.5bAU$9.3b15.5x11.3x0.9x
Sun, 23 Feb 2025AU$109.4bAU$113.0bAU$6.7b14x16.4x1x
Tue, 21 Jan 2025AU$119.1bAU$112.2bAU$6.5b12.7x18.4x1.1x
Thu, 19 Dec 2024AU$109.5bAU$111.7bAU$6.4b12.1x17.1x1x
Sat, 16 Nov 2024AU$110.7bAU$110.9bAU$6.2b11.2x17.7x1x
Mon, 14 Oct 2024AU$121.0bAU$109.7bAU$6.0b12.5x20x1.1x
Wed, 11 Sep 2024AU$109.6bAU$110.4bAU$6.2b9.8x17.6x1x
Fri, 09 Aug 2024AU$120.6bAU$113.0bAU$7.5b7.4x16.1x1.1x
Sun, 07 Jul 2024AU$136.2bAU$112.1bAU$7.4b6.7x18.5x1.2x
Tue, 04 Jun 2024AU$134.5bAU$112.5bAU$7.4b9.4x18.1x1.2x
Thu, 02 May 2024AU$129.4bAU$113.2bAU$7.5b6.9x17.2x1.1x
Sat, 30 Mar 2024AU$137.0bAU$113.2bAU$7.5b7x18.2x1.2x
Mon, 26 Feb 2024AU$133.8bAU$120.3bAU$16.4b6.5x8.1x1.1x
Wed, 24 Jan 2024AU$137.8bAU$128.8bAU$19.3b5.8x7.1x1.1x
Fri, 22 Dec 2023AU$134.3bAU$127.7bAU$19.0b5.6x7.1x1.1x
Sun, 19 Nov 2023AU$130.4bAU$129.2bAU$19.5b4.8x6.7x1x
Tue, 17 Oct 2023AU$141.8bAU$130.6bAU$19.9b5.7x7.1x1.1x
Thu, 14 Sep 2023AU$145.0bAU$130.1bAU$19.9b4.5x7.3x1.1x
Sat, 12 Aug 2023AU$146.2bAU$128.2bAU$23.3b6.3x6.3x1.1x
Price to Earnings Ratio

6.3x


Total Market Cap: AU$146.2bTotal Earnings: AU$23.3bTotal Revenue: AU$128.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Oil and Gas Industry Price to Earnings3Y Average 16.1x202420252026
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 26.6x which is higher than its 3-year average PE of 16.1x.
  • 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 40% per year over the last three years,
  • Revenues have also declined 7.2% 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 Market2.02%
Energy0.68%
Oil and Gas0.68%
Oil and Gas Exploration and Production1.10%
Oil and Gas Refining and Marketing0.24%
Oil and Gas Storage and Transportation0%0
Coal and Fuels-0.55%
Industry PE
  • Investors are most optimistic about the Coal and Fuels industry which is trading above its 3-year average PE ratio of 18.5x.
    • Analysts are expecting annual earnings growth of 21.3%, 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 6.7% 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$32.952.0%
+AU$1.3b		24.1%PE16.2x
PDN Paladin EnergyAU$9.594.8%
+AU$197.7m		51.7%PS12.2x
BMN Bannerman EnergyAU$3.3916.5%
+AU$99.7m		36.7%PS54190.9x
VEA Viva Energy GroupAU$2.691.5%
+AU$65.6m		28.1%PS0.2x
DYL Deep YellowAU$1.363.0%
+AU$39.0m		-12.6%PE714.2x

Latest News

VEA
AU$2.69
Viva Energy Group
7D
1.5%
1Y
28.1%
Narrative Update • Aug 04

VEA: Energy Hub Plans And Retail Expansion Will Shape Future Returns

Analysts have modestly raised their price target for Viva Energy Group to A$2.82 from A$2.64, citing updated assumptions around discount rates, revenue, profit margins and future P/E levels. What’s in the News for Viva Energy Group There are currently no recent Viva Energy Group news items provided in the available primary sources.
NHC
AU$5.14
New Hope
7D
-2.8%
1Y
20.1%
Narrative Update • Aug 04

NHC: Higher Future P/E Assumptions Will Support Further Share Upside

Analysts have reduced their price target for New Hope to A$6.20 from A$7.00, reflecting updated assumptions of more moderate revenue growth, lower profit margins and a higher future P/E multiple in their models. What’s in the News for New Hope New Hope reported an update on its share buyback program covering the period from February 1, 2026 to April 30, 2026, with no shares repurchased in that timeframe.
PEN
AU$0.28
Peninsula Energy
7D
21.3%
1Y
n/a
ALD
AU$38.76
Ampol
7D
-0.4%
1Y
43.0%
EXR
AU$0.052
Elixir Energy
7D
-39.5%
1Y
67.7%
WDS
AU$32.95
Woodside Energy Group
7D
2.0%
1Y
24.1%
Narrative Update • Jul 29

WDS: LNG Megaproject And Acquisition Uncertainty Will Limit Future Share Price Upside

Analysts have modestly raised their price target for Woodside Energy Group to A$25.39 from A$24.57, reflecting updated assumptions around revenue growth, profit margins and future P/E multiples. What’s in the News for Woodside Energy Group Woodside Energy Group is progressing the Scarborough to Pluto Train 2 development, described as the company’s largest near term capital commitment.
STO
AU$7.76
Santos
7D
-0.1%
1Y
-1.0%
New Narrative • Jul 25

Is Santos Cooking with Gas?

At A$9.427 per share, Santos (ASX: STO) appears reasonably valued when considering its existing operations and the expected contribution from the Barossa and Pikka projects. Santos reported 2025 revenue of US$4.9 billion, underlying profit of US$898 million and free cash flow of US$1.8 billion.
BPT
AU$0.92
Beach Energy
7D
1.7%
1Y
-24.7%
PDN
AU$9.59
Paladin Energy
7D
4.8%
1Y
51.7%
Narrative Update • Jul 23

PDN: Patterson Lake South Progress And Langer Heinrich Ramp-Up Will Support Future Upside

Paladin Energy’s revised fair value estimate has shifted modestly lower to A$12.11 from A$12.72, as analysts balance stronger enthusiasm for the Patterson Lake South project and its development potential against valuation concerns that some see as ahead of current fundamentals. Analyst Commentary Recent research on Paladin Energy highlights a clear split between those who see meaningful upside tied to Patterson Lake South and those who are more cautious about how much of that potential is already reflected in the share price.
BMN
AU$3.39
Bannerman Energy
7D
16.5%
1Y
36.7%
Narrative Update • Jul 22

None

The analyst price target for Bannerman Energy has been revised from A$5.99 to A$7.60 as analysts update their valuation assumptions, including changes to fair value, discount rate, revenue growth, profit margin, and future P/E estimates. What's in the News for Bannerman Energy No recent Bannerman Energy specific news items or key developments were available from the provided sources at the time of writing.
TBN
AU$0.23
Tamboran Resources
7D
-4.2%
1Y
35.3%
YAL
AU$5.46
Yancoal Australia
7D
-3.7%
1Y
-13.6%
BOE
AU$1.30
Boss Energy
7D
6.1%
1Y
-22.8%
OMA
AU$0.52
Omega Oil & Gas
7D
-8.8%
1Y
71.7%
DYL
AU$1.36
Deep Yellow
7D
3.0%
1Y
-12.6%
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...
CXU
AU$0.087
Cauldron Energy
7D
-43.9%
1Y
987.5%