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Australian (ASX) Oil and Gas Industry Analysis

UpdatedJul 21, 2026
DataAggregated Company Financials
Companies102
  • 7D3.1%
  • 3M-4.3%
  • 1Y10.9%
  • YTD16.8%

Over the last 7 days, the Oil and Gas industry has risen 1.7%, driven by gains from Woodside Energy Group of 5.4%. Meanwhile, Paladin Energy actually underperformed within the industry, shrinking 12% in the last week. This takes the industry's 12 month performance to a gain of 10%. Earnings are forecast to grow by 11% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 21 Jul 2026AU$133.6bAU$102.6bAU$5.1b15.1x26x1.3x
Thu, 18 Jun 2026AU$129.7bAU$102.4bAU$5.1b14.5x25.5x1.3x
Sat, 16 May 2026AU$138.3bAU$101.9bAU$5.0b15.8x27.7x1.4x
Mon, 13 Apr 2026AU$145.0bAU$102.3bAU$5.0b16.5x28.9x1.4x
Wed, 11 Mar 2026AU$135.0bAU$102.3bAU$5.4b20.7x25.2x1.3x
Fri, 06 Feb 2026AU$124.5bAU$108.5bAU$6.5b15.4x19.1x1.1x
Sun, 04 Jan 2026AU$113.2bAU$109.8bAU$6.8b13.3x16.7x1x
Tue, 02 Dec 2025AU$114.1bAU$110.4bAU$6.9b13.4x16.6x1x
Thu, 30 Oct 2025AU$112.6bAU$110.2bAU$6.9b13.2x16.4x1x
Sat, 27 Sep 2025AU$112.3bAU$110.6bAU$7.1b13.7x15.8x1x
Mon, 25 Aug 2025AU$118.8bAU$110.5bAU$8.0b13x14.9x1.1x
Wed, 23 Jul 2025AU$119.2bAU$112.4bAU$9.0b14.9x13.2x1.1x
Fri, 20 Jun 2025AU$117.9bAU$112.7bAU$9.0b14x13.1x1x
Sun, 18 May 2025AU$103.3bAU$112.9bAU$9.1b13.5x11.3x0.9x
Tue, 15 Apr 2025AU$91.2bAU$113.3bAU$9.3b14.4x9.9x0.8x
Thu, 13 Mar 2025AU$103.1bAU$113.3bAU$9.2b14.7x11.2x0.9x
Sat, 08 Feb 2025AU$115.4bAU$111.9bAU$7.0b13.5x16.5x1x
Mon, 06 Jan 2025AU$117.4bAU$112.1bAU$6.5b12.8x18.1x1x
Wed, 04 Dec 2024AU$113.7bAU$110.8bAU$6.2b12.3x18.3x1x
Fri, 01 Nov 2024AU$113.7bAU$110.5bAU$6.2b11.4x18.4x1x
Sun, 29 Sep 2024AU$115.9bAU$109.1bAU$5.9b11.1x19.7x1.1x
Tue, 27 Aug 2024AU$120.4bAU$110.5bAU$5.6b9.5x21.5x1.1x
Thu, 25 Jul 2024AU$128.8bAU$112.7bAU$7.5b8.1x17.3x1.1x
Sat, 22 Jun 2024AU$129.1bAU$112.5bAU$7.4b8.3x17.4x1.1x
Mon, 20 May 2024AU$132.1bAU$112.2bAU$7.4b7.2x17.9x1.2x
Wed, 17 Apr 2024AU$138.4bAU$113.7bAU$7.6b7.9x18.2x1.2x
Fri, 15 Mar 2024AU$129.0bAU$113.4bAU$7.9b7x16.4x1.1x
Sun, 11 Feb 2024AU$138.4bAU$129.0bAU$19.5b6.1x7.1x1.1x
Tue, 09 Jan 2024AU$137.4bAU$128.2bAU$19.1b5.8x7.2x1.1x
Thu, 07 Dec 2023AU$127.6bAU$128.8bAU$19.3b5.6x6.6x1x
Sat, 04 Nov 2023AU$137.5bAU$129.6bAU$19.6b5.6x7x1.1x
Mon, 02 Oct 2023AU$146.4bAU$129.7bAU$19.6b5.9x7.5x1.1x
Wed, 30 Aug 2023AU$144.9bAU$130.2bAU$20.4b5.1x7.1x1.1x
Fri, 28 Jul 2023AU$144.9bAU$126.7bAU$22.8b6.5x6.4x1.1x
Price to Earnings Ratio

6.4x


Total Market Cap: AU$144.9bTotal Earnings: AU$22.8bTotal Revenue: AU$126.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Oil and Gas Industry Price to Earnings3Y Average 15.8x202420252026
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 25.5x which is higher than its 3-year average PE of 15.8x.
  • 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 6.8% 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-0.28%
Energy3.07%
Oil and Gas3.07%
Oil and Gas Exploration and Production4.12%
Oil and Gas Refining and Marketing3.54%
Oil and Gas Storage and Transportation0%0
Coal and Fuels-0.53%
Industry PE
  • Investors are most optimistic about the Coal and Fuels industry which is trading above its 3-year average PE ratio of 18.1x.
    • Analysts are expecting annual earnings growth of 22.4%, 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 6.6% 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$30.905.4%
+AU$3.0b		24.8%PE15.1x
STO SantosAU$7.843.2%
+AU$777.7m		0.3%PE21.8x
YAL Yancoal AustraliaAU$5.685.0%
+AU$356.5m		-6.6%PE17x
ALD AmpolAU$37.933.2%
+AU$281.2m		39.3%PE109.7x
VEA Viva Energy GroupAU$2.434.3%
+AU$164.0m		7.0%PS0.1x

Latest News

BMN
AU$3.26
Bannerman Energy
7D
-6.9%
1Y
8.3%
YAL
AU$5.68
Yancoal Australia
7D
5.0%
1Y
-6.6%
TBN
AU$0.21
Tamboran Resources
7D
-8.5%
1Y
38.7%
VEA
AU$2.43
Viva Energy Group
7D
4.3%
1Y
7.0%
WDS
AU$30.90
Woodside Energy Group
7D
5.4%
1Y
24.8%
Narrative Update • Jul 13

WDS: Future Cash Flows Will Rely On Executing Major LNG Projects

Analysts have lifted their price target for Woodside Energy Group to A$33.10 from A$31.69, citing updated assumptions for revenue growth, profit margins, a slightly higher discount rate, and a lower future P/E multiple. Analyst Commentary Recent research on Woodside Energy Group highlights both opportunities and risks that help explain the updated A$33.10 price target.
PDN
AU$8.48
Paladin Energy
7D
-12.5%
1Y
6.0%
NHC
AU$5.38
New Hope
7D
3.1%
1Y
29.3%
AEL
AU$1.53
Amplitude Energy
7D
15.9%
1Y
-43.2%
Narrative Update • Jul 10

AEL: Higher Projected Margins Will Support A Rebound From Downgrade

Analysts have reduced their price target on Amplitude Energy from A$3.29 to A$2.44, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E, which were also reflected in a recent downgrade in Street research. What's in the News for Amplitude Energy No recent news stories for Amplitude Energy were identified in the provided sources.
STO
AU$7.84
Santos
7D
3.2%
1Y
0.3%
Narrative Update • Jul 10

STO: Fair Outlook As Barossa Progress Supports Rebased Earnings Expectations

Analysts have adjusted their price target on Santos to A$7.65 from A$5.95, reflecting updated assumptions around revenue growth, profit margins and the stock’s future P/E profile. What’s in the News for Santos Santos shares moved sharply on July 8, 2026, with the stock up 5.78%, as investors reacted to progress at the Barossa gas development project, according to recent news reports.
BTL
AU$0.26
Beetaloo Energy Australia
7D
-3.7%
1Y
10.6%
WHC
AU$7.63
Whitehaven Coal
7D
1.2%
1Y
18.8%
Narrative Update • Jul 06

WHC: Head And Shoulders Breakdown Is Expected To Pressure Rich P/E

Analysts have trimmed their fair value estimate for Whitehaven Coal by A$0.35. This adjustment reflects updated assumptions for revenue growth, profit margins, the discount rate and future P/E multiples.
BOE
AU$1.24
Boss Energy
7D
-4.6%
1Y
-67.6%
OMA
AU$0.59
Omega Oil & Gas
7D
-7.0%
1Y
108.8%
ALD
AU$37.93
Ampol
7D
3.2%
1Y
39.3%
DYL
AU$1.31
Deep Yellow
7D
-6.5%
1Y
-29.1%
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...
EXR
AU$0.09
Elixir Energy
7D
-28.0%
1Y
210.3%