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Australian (ASX) Oil and Gas Industry Analysis

UpdatedAug 08, 2026
DataAggregated Company Financials
Companies102
  • 7D-2.0%
  • 3M-0.3%
  • 1Y9.6%
  • YTD18.4%

Over the last 7 days, the Oil and Gas industry has dropped 2.0%, driven by a pullback from Woodside Energy Group of 3.2%. On the other hand Paladin Energy is actually up 7.7%. This takes the industry's 12 month performance to a gain of 9.6%. As for the next few years, earnings are expected to grow by 10% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 08 Aug 2026AU$135.5bAU$102.3bAU$5.5b14.8x24.6x1.3x
Mon, 06 Jul 2026AU$124.5bAU$102.8bAU$5.2b14.1x24x1.2x
Wed, 03 Jun 2026AU$137.8bAU$102.0bAU$5.0b15.4x27.5x1.4x
Fri, 01 May 2026AU$146.5bAU$102.0bAU$5.0b16.8x29.4x1.4x
Sun, 29 Mar 2026AU$148.3bAU$103.1bAU$5.2b15.8x28.6x1.4x
Tue, 24 Feb 2026AU$125.0bAU$106.9bAU$6.1b19x20.3x1.2x
Thu, 22 Jan 2026AU$116.8bAU$109.5bAU$6.7b12.9x17.4x1.1x
Sat, 20 Dec 2025AU$109.3bAU$110.2bAU$6.8b13.2x16x1x
Mon, 17 Nov 2025AU$117.3bAU$110.5bAU$6.9b13.7x16.9x1.1x
Wed, 15 Oct 2025AU$110.2bAU$110.9bAU$7.0b12.7x15.7x1x
Fri, 12 Sep 2025AU$116.7bAU$110.3bAU$7.1b14.2x16.3x1.1x
Sun, 10 Aug 2025AU$121.4bAU$112.6bAU$9.0b14.9x13.5x1.1x
Tue, 08 Jul 2025AU$114.8bAU$112.5bAU$9.0b15.1x12.8x1x
Thu, 05 Jun 2025AU$105.3bAU$112.6bAU$9.0b13.2x11.7x0.9x
Sat, 03 May 2025AU$96.8bAU$112.7bAU$9.1b13.2x10.6x0.9x
Mon, 31 Mar 2025AU$106.4bAU$113.4bAU$9.3b15.5x11.4x0.9x
Wed, 26 Feb 2025AU$108.6bAU$110.3bAU$6.0b15.6x18x1x
Fri, 24 Jan 2025AU$118.6bAU$111.9bAU$6.4b13.2x18.5x1.1x
Sun, 22 Dec 2024AU$108.9bAU$112.0bAU$6.4b11.3x16.9x1x
Tue, 19 Nov 2024AU$112.5bAU$111.0bAU$6.3b11.3x18x1x
Thu, 17 Oct 2024AU$117.3bAU$110.0bAU$6.1b11.9x19.3x1.1x
Sat, 14 Sep 2024AU$111.6bAU$110.2bAU$6.2b9.8x18x1x
Mon, 12 Aug 2024AU$122.7bAU$112.9bAU$7.5b7.4x16.4x1.1x
Wed, 10 Jul 2024AU$134.6bAU$112.1bAU$7.4b6.7x18.3x1.2x
Fri, 07 Jun 2024AU$130.6bAU$112.5bAU$7.4b9.3x17.6x1.2x
Sun, 05 May 2024AU$130.8bAU$112.6bAU$7.4b6.9x17.6x1.2x
Tue, 02 Apr 2024AU$137.0bAU$113.2bAU$7.5b7x18.2x1.2x
Thu, 29 Feb 2024AU$133.1bAU$113.9bAU$7.9b6.7x16.8x1.2x
Sat, 27 Jan 2024AU$139.7bAU$128.7bAU$19.3b6x7.2x1.1x
Mon, 25 Dec 2023AU$135.2bAU$127.5bAU$18.9b5.6x7.2x1.1x
Wed, 22 Nov 2023AU$132.3bAU$128.9bAU$19.3b4.8x6.8x1x
Fri, 20 Oct 2023AU$145.1bAU$130.4bAU$19.9b5.9x7.3x1.1x
Sun, 17 Sep 2023AU$148.5bAU$130.0bAU$19.9b4.7x7.5x1.1x
Tue, 15 Aug 2023AU$146.7bAU$128.4bAU$23.4b6.3x6.3x1.1x
Price to Earnings Ratio

6.3x


Total Market Cap: AU$146.7bTotal Earnings: AU$23.4bTotal Revenue: AU$128.4bTotal 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 24.6x 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 38% per year over the last three years,
  • Revenues have also declined 7.3% 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 Market3.35%
Energy-2.03%
Oil and Gas-2.03%
Oil and Gas Storage and Transportation16.67%
Coal and Fuels2.77%
Oil and Gas Exploration and Production-3.05%
Oil and Gas Refining and Marketing-4.19%
Industry PE
  • Investors are most optimistic about the Coal and Fuels industry which is trading above its 3-year average PE ratio of 18.6x.
    • Analysts are expecting annual earnings growth of 21.6%, 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 6.3% 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$10.157.7%
+AU$328.0m		52.6%PS12.9x
WHC Whitehaven CoalAU$7.324.9%
+AU$279.6m		5.2%PE9.7x
DYL Deep YellowAU$1.395.3%
+AU$68.3m		-11.5%PE732.6x
YAL Yancoal AustraliaAU$5.620.9%
+AU$66.0m		-15.6%PE16.9x
BMN Bannerman EnergyAU$3.399.7%
+AU$62.3m		31.4%PS54190.9x

Latest News

BPT
AU$0.86
Beach Energy
7D
-4.9%
1Y
-31.6%
WDS
AU$31.88
Woodside Energy Group
7D
-3.2%
1Y
18.8%
PDN
AU$10.15
Paladin Energy
7D
7.7%
1Y
52.6%
Narrative Update • Aug 06

PDN: Project Execution Risks Are Expected To Sustain Share Price Overvaluation

Analysts have adjusted their price target for Paladin Energy to A$7.03 from A$7.35, reflecting a slightly higher discount rate, a lower assumed future P/E, and updated views on project scale and valuation following recent research that includes both an upgrade and a downgrade. Analyst Commentary Recent Street research on Paladin Energy shows a split in opinion, with some analysts highlighting long term project potential while others flag nearer term risks around valuation and execution.
BMN
AU$3.39
Bannerman Energy
7D
9.7%
1Y
31.4%
Narrative Update • Aug 05

BMN: Higher Margins And Lower Future P/E Will Drive Upside Potential

Analysts have lifted their price target for Bannerman Energy from A$4.71 to about A$5.22, citing updated assumptions that include very strong projected revenue growth, wider profit margins and a lower future P/E multiple. What’s in the News for Bannerman Energy No recent company specific news items for Bannerman Energy are available from the provided sources as of 29 Jul 2026.
VEA
AU$2.65
Viva Energy Group
7D
-7.0%
1Y
28.6%
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$5.21
New Hope
7D
0.4%
1Y
15.3%
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.
ALD
AU$38.78
Ampol
7D
-2.8%
1Y
41.7%
EXR
AU$0.05
Elixir Energy
7D
-33.3%
1Y
51.5%
KAR
AU$1.66
Karoon Energy
7D
-4.9%
1Y
-14.2%
WHC
AU$7.32
Whitehaven Coal
7D
4.9%
1Y
5.2%
STO
AU$7.66
Santos
7D
-2.3%
1Y
-2.8%
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.
YAL
AU$5.62
Yancoal Australia
7D
0.9%
1Y
-15.6%
BOE
AU$1.34
Boss Energy
7D
9.4%
1Y
-26.4%
WEC
AU$0.21
White Energy
7D
21.1%
1Y
437.5%
DYL
AU$1.39
Deep Yellow
7D
5.3%
1Y
-11.5%
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$0.089
Cauldron Energy
7D
-28.8%
1Y
1,012.5%