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Australian (ASX) Oil and Gas Industry Analysis

UpdatedJul 04, 2026
DataAggregated Company Financials
Companies101
  • 7D1.0%
  • 3M-18.1%
  • 1Y6.2%
  • YTD8.9%

Over the last 7 days, the Oil and Gas industry has risen 1.0%, driven by gains from Woodside Energy Group of 0.8%. Meanwhile, Whitehaven Coal actually underperformed within the industry, shrinking 5.9% in the last week. This takes the industry's 12 month performance to a gain of 6.2%. 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
Sat, 04 Jul 2026AU$124.5bAU$102.8bAU$5.2b14.1x24x1.2x
Mon, 01 Jun 2026AU$137.1bAU$101.9bAU$5.0b15.4x27.5x1.3x
Wed, 29 Apr 2026AU$143.0bAU$102.0bAU$5.0b17x28.8x1.4x
Fri, 27 Mar 2026AU$146.7bAU$102.9bAU$5.2b15.8x28.4x1.4x
Sun, 22 Feb 2026AU$127.0bAU$106.8bAU$6.1b18.4x20.7x1.2x
Tue, 20 Jan 2026AU$115.8bAU$109.7bAU$6.8b13x17.1x1.1x
Thu, 18 Dec 2025AU$110.2bAU$110.1bAU$6.8b13.4x16.1x1x
Sat, 15 Nov 2025AU$117.3bAU$110.6bAU$7.0b13.6x16.9x1.1x
Mon, 13 Oct 2025AU$109.6bAU$110.7bAU$7.0b13x15.7x1x
Wed, 10 Sep 2025AU$116.3bAU$110.3bAU$7.1b14.6x16.3x1.1x
Fri, 08 Aug 2025AU$121.3bAU$112.6bAU$9.0b15.2x13.5x1.1x
Sun, 06 Jul 2025AU$115.0bAU$112.3bAU$8.9b14.3x12.9x1x
Tue, 03 Jun 2025AU$102.4bAU$112.6bAU$9.0b12.6x11.4x0.9x
Thu, 01 May 2025AU$96.3bAU$112.9bAU$9.2b13.5x10.5x0.9x
Sat, 29 Mar 2025AU$106.4bAU$113.5bAU$9.3b15.5x11.4x0.9x
Mon, 24 Feb 2025AU$109.4bAU$112.9bAU$6.6b14x16.6x1x
Wed, 22 Jan 2025AU$119.5bAU$112.1bAU$6.5b12.6x18.5x1.1x
Fri, 20 Dec 2024AU$108.2bAU$112.0bAU$6.4b10.6x16.8x1x
Sun, 17 Nov 2024AU$110.7bAU$111.0bAU$6.3b11.1x17.7x1x
Tue, 15 Oct 2024AU$121.0bAU$109.7bAU$6.0b12.5x20x1.1x
Thu, 12 Sep 2024AU$108.2bAU$110.3bAU$6.2b9.8x17.4x1x
Sat, 10 Aug 2024AU$122.7bAU$112.9bAU$7.5b7.4x16.4x1.1x
Mon, 08 Jul 2024AU$136.2bAU$112.1bAU$7.4b6.7x18.5x1.2x
Wed, 05 Jun 2024AU$132.2bAU$112.5bAU$7.4b9.9x17.8x1.2x
Fri, 03 May 2024AU$129.9bAU$112.9bAU$7.5b6.9x17.4x1.2x
Sun, 31 Mar 2024AU$137.0bAU$113.2bAU$7.5b7x18.2x1.2x
Tue, 27 Feb 2024AU$131.0bAU$120.4bAU$16.5b6.5x8x1.1x
Thu, 25 Jan 2024AU$138.2bAU$128.7bAU$19.3b6.1x7.2x1.1x
Sat, 23 Dec 2023AU$135.1bAU$127.4bAU$18.9b5.6x7.2x1.1x
Mon, 20 Nov 2023AU$130.4bAU$129.2bAU$19.5b4.8x6.7x1x
Wed, 18 Oct 2023AU$141.9bAU$130.6bAU$19.9b5.7x7.1x1.1x
Fri, 15 Sep 2023AU$146.0bAU$130.0bAU$19.9b4.6x7.4x1.1x
Sun, 13 Aug 2023AU$146.2bAU$128.4bAU$23.4b6.3x6.3x1.1x
Tue, 11 Jul 2023AU$132.3bAU$127.5bAU$23.1b5.9x5.7x1x
Price to Earnings Ratio

5.7x


Total Market Cap: AU$132.3bTotal Earnings: AU$23.1bTotal Revenue: AU$127.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Oil and Gas Industry Price to Earnings3Y Average 15.5x202420252026
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 24.0x which is higher than its 3-year average PE of 15.5x.
  • The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.2x.
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 6.9% 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 Market0.98%
Energy1.01%
Oil and Gas1.01%
Oil and Gas Storage and Transportation7.69%
Oil and Gas Refining and Marketing4.62%
Coal and Fuels0.68%
Oil and Gas Exploration and Production0.65%
Industry PE
  • Investors are most optimistic about the Coal and Fuels industry which is trading above its 3-year average PE ratio of 17.7x.
    • Analysts are expecting annual earnings growth of 23.1%, 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 6.5% 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$27.870.8%
+AU$418.2m		15.8%PE13.5x
ALD AmpolAU$33.884.1%
+AU$314.6m		32.1%PE98x
PDN Paladin EnergyAU$9.986.7%
+AU$283.1m		29.1%PS12.5x
VEA Viva Energy GroupAU$2.145.9%
+AU$196.8m		-6.6%PS0.1x
BOE Boss EnergyAU$1.2826.2%
+AU$110.0m		-68.8%PS4.8x

Latest News

BOE
AU$1.28
Boss Energy
7D
26.2%
1Y
-68.8%
WDS
AU$27.87
Woodside Energy Group
7D
0.8%
1Y
15.8%
VEA
AU$2.14
Viva Energy Group
7D
5.9%
1Y
-6.6%
NHC
AU$5.37
New Hope
7D
-0.2%
1Y
35.9%
WHC
AU$7.59
Whitehaven Coal
7D
-5.9%
1Y
27.8%
BMN
AU$3.32
Bannerman Energy
7D
6.4%
1Y
5.1%
New Narrative • Jun 30

Heavy Reliance On Single Uranium Partner Will Shape Long-Term Project Risk And Opportunity

Catalysts About Bannerman Energy Bannerman Energy is developing the Etango uranium project in Namibia toward planned commissioning of a processing plant in 2028. What are the underlying business or industry changes driving this perspective?
KAR
AU$1.40
Karoon Energy
7D
10.7%
1Y
-26.2%
Narrative Update • Jun 27

KAR: Deferred Who Dat Volumes Will Support Stronger Long Term Outlook

Karoon Energy's analyst price target has been revised to A$2.05 from A$2.26. Analysts point to slightly softer revenue growth assumptions, a modestly lower profit margin outlook and a reduced future P/E expectation to support the change.
COI
AU$0.09
Comet Ridge
7D
-10.0%
1Y
-35.7%
STO
AU$7.10
Santos
7D
-0.6%
1Y
-7.6%
Narrative Update • Jun 26

STO: Future Returns Will Hinge On Papua LNG Sanction And Cash Generation

Analysts have modestly lifted their Santos price target to A$9.09 from A$8.81, reflecting updated assumptions around fair value, profit margins and future P/E expectations. What’s in the News for Santos Santos reports strong quarterly production, with first oil achieved at Pikka Phase 1 in Alaska and initial LNG cargoes shipped from the Barossa project, supporting its maintained full-year 2026 production guidance.
PDN
AU$9.98
Paladin Energy
7D
6.7%
1Y
29.1%
ALD
AU$33.88
Ampol
7D
4.1%
1Y
32.1%
BPT
AU$0.84
Beach Energy
7D
-1.2%
1Y
-37.3%
Narrative Update • Jun 24

BPT: Waitsia Spending And Dividend Reset Will Support Future Earnings Multiple

Analysts have trimmed their fair value estimate for Beach Energy from A$1.24 to A$1.19, reflecting updated assumptions for slower revenue growth, a slightly higher profit margin, and a modestly lower future P/E multiple. What's in the News Beach Energy cut its interim dividend by 67%, citing higher capital expenditure as it directs more spending to the Waitsia Gas Project, according to recent company announcements.
DYL
AU$1.48
Deep Yellow
7D
3.9%
1Y
-12.7%
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$0.12
Elixir Energy
7D
-4.2%
1Y
310.7%
HYT
AU$0.015
Hyterra
7D
-21.1%
1Y
-40.0%
CVN
AU$0.10
Carnarvon Energy
7D
-4.8%
1Y
-13.0%
New Narrative • May 07

Carnarvon Energy sees 167% upside if oil holds above $100

If the Dorado development begins production by July 2027, then revenue on the 20% stake in the project will return a total of $150-250million AAR. With this income the stock's new valuation would be around $0.25 AUD/ share, which means that stock at $0.11 AUD/share is currently 127% undervalued, assuming market conditions hold and project is completed on time.