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Gas2Grid

ASX:GGX
Snowflake Description

Mediocre balance sheet and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
GGX
ASX
A$6M
Market Cap
  1. Home
  2. AU
  3. Energy
Company description

Gas2Grid Limited engages in the exploration of oil and gas in the Philippines and France. The last earnings update was 39 days ago. More info.


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  • Gas2Grid has significant price volatility in the past 3 months.
GGX Share Price and Events
7 Day Returns
0%
ASX:GGX
0.4%
AU Oil and Gas
-0%
AU Market
1 Year Returns
66.7%
ASX:GGX
4.4%
AU Oil and Gas
4.6%
AU Market
GGX Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Gas2Grid (GGX) 0% 25% 25% 66.7% 25% -82.1%
AU Oil and Gas 0.4% -1.5% 6% 4.4% 30.5% -32.3%
AU Market -0% 1% 6.9% 4.6% 18.2% 4.8%
1 Year Return vs Industry and Market
  • GGX outperformed the Oil and Gas industry which returned 4.4% over the past year.
  • GGX outperformed the Market in Australia which returned 4.6% over the past year.
Price Volatility
GGX
Industry
5yr Volatility vs Market

GGX Value

 Is Gas2Grid undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Gas2Grid to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Gas2Grid.

ASX:GGX Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 11.9%
Perpetual Growth Rate 10-Year AU Government Bond Rate 2.3%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for ASX:GGX
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AU Govt Bond Rate 2.3%
Equity Risk Premium S&P Global 6%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.96
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.958 (1 + (1- 30%) (141.51%))
1.608
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.61
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.31% + (1.608 * 5.96%)
11.9%

Discounted Cash Flow Calculation for ASX:GGX using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Gas2Grid is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

ASX:GGX DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (AUD, Millions) Source Present Value
Discounted (@ 11.9%)
2019 0.46 Est @ 75.24% 0.41
2020 0.70 Est @ 53.36% 0.56
2021 0.97 Est @ 38.05% 0.69
2022 1.24 Est @ 27.33% 0.79
2023 1.48 Est @ 19.82% 0.84
2024 1.70 Est @ 14.57% 0.86
2025 1.88 Est @ 10.89% 0.86
2026 2.04 Est @ 8.32% 0.83
2027 2.17 Est @ 6.52% 0.79
2028 2.29 Est @ 5.26% 0.74
Present value of next 10 years cash flows A$7.38
ASX:GGX DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= A$2.29 × (1 + 2.31%) ÷ (11.9% – 2.31%)
A$24.40
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= A$24.40 ÷ (1 + 11.9%)10
A$7.93
ASX:GGX Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= A$7.38 + A$7.93
A$15.31
Equity Value per Share
(AUD)
= Total value / Shares Outstanding
= A$15.31 / 1,144.41
A$0.01
ASX:GGX Discount to Share Price
Calculation Result
Value per share (AUD) From above. A$0.01
Current discount Discount to share price of A$0.01
= -1 x (A$0.01 - A$0.01) / A$0.01
62.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Gas2Grid is available for.
Intrinsic value
>50%
Share price is A$0.005 vs Future cash flow value of A$0.01338
Current Discount Checks
For Gas2Grid to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Gas2Grid's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Gas2Grid's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Gas2Grid's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Gas2Grid's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ASX:GGX PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in AUD A$0.00
ASX:GGX Share Price ** ASX (2019-04-16) in AUD A$0.01
Australia Oil and Gas Industry PE Ratio Median Figure of 23 Publicly-Listed Oil and Gas Companies 7.92x
Australia Market PE Ratio Median Figure of 544 Publicly-Listed Companies 16.14x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Gas2Grid.

ASX:GGX PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ASX:GGX Share Price ÷ EPS (both in AUD)

= 0.01 ÷ 0.00

-5.21x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Gas2Grid is loss making, we can't compare its value to the AU Oil and Gas industry average.
  • Gas2Grid is loss making, we can't compare the value of its earnings to the Australia market.
Price based on expected Growth
Does Gas2Grid's expected growth come at a high price?
Raw Data
ASX:GGX PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -5.21x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Australia Oil and Gas Industry PEG Ratio Median Figure of 17 Publicly-Listed Oil and Gas Companies 0.24x
Australia Market PEG Ratio Median Figure of 360 Publicly-Listed Companies 1.35x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Gas2Grid, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Gas2Grid's assets?
Raw Data
ASX:GGX PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in AUD A$-0.01
ASX:GGX Share Price * ASX (2019-04-16) in AUD A$0.01
Australia Oil and Gas Industry PB Ratio Median Figure of 145 Publicly-Listed Oil and Gas Companies 1.31x
Australia Market PB Ratio Median Figure of 1,676 Publicly-Listed Companies 1.67x
ASX:GGX PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ASX:GGX Share Price ÷ Book Value per Share (both in AUD)

= 0.01 ÷ -0.01

-0.63x

* Primary Listing of Gas2Grid.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Gas2Grid has negative assets, we can't compare the value of its assets to the AU Oil and Gas industry average.
X
Value checks
We assess Gas2Grid's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Gas2Grid has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

GGX Future Performance

 How is Gas2Grid expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Gas2Grid has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
4.2%
Expected Oil and Gas industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Gas2Grid expected to grow at an attractive rate?
  • Unable to compare Gas2Grid's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Gas2Grid's earnings growth to the Australia market average as no estimate data is available.
  • Unable to compare Gas2Grid's revenue growth to the Australia market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
ASX:GGX Future Growth Rates Data Sources
Data Point Source Value (per year)
Australia Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 4.2%
Australia Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 2.7%
Australia Market Earnings Growth Rate Market Cap Weighted Average 6.7%
Australia Market Revenue Growth Rate Market Cap Weighted Average 3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
ASX:GGX Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ASX:GGX Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2018-12-31 0 0 -1
2018-09-30 0 0 -1
2018-06-30 0 0 -2
2018-03-31 0 0 -2
2017-12-31 0 0 -2
2017-09-30 0 0 -2
2017-06-30 0 0 -1
2017-03-31 0 0 -6
2016-12-31 0 0 -11
2016-09-30 0 0 -13
2016-06-30 0 0 -14
2016-03-31 0 0 -10

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Gas2Grid is high growth as no earnings estimate data is available.
  • Unable to determine if Gas2Grid is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ASX:GGX Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Gas2Grid Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:GGX Past Financials Data
Date (Data in AUD Millions) EPS *
2018-12-31 0.00
2018-09-30 0.00
2018-06-30 0.00
2018-03-31 0.00
2017-12-31 0.00
2017-09-30 0.00
2017-06-30 0.00
2017-03-31 -0.01
2016-12-31 -0.01
2016-09-30 -0.01
2016-06-30 -0.02
2016-03-31 -0.01

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Gas2Grid will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Take a look at our analysis of GGX’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
  2. Gas2Grid's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Energy companies here
  3. Gas2Grid's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Gas2Grid's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Australia market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Australia market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Gas2Grid has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

GGX Past Performance

  How has Gas2Grid performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Gas2Grid's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Gas2Grid does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Gas2Grid's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Gas2Grid's 1-year growth to the AU Oil and Gas industry average as it is not currently profitable.
Earnings and Revenue History
Gas2Grid's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Gas2Grid Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:GGX Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 0.00 -0.96 0.53
2018-09-30 0.01 -1.24 0.54
2018-06-30 0.02 -1.53 0.55
2018-03-31 0.03 -1.54 0.54
2017-12-31 0.04 -1.55 0.53
2017-09-30 0.05 -1.52 0.57
2017-06-30 0.06 -1.48 0.61
2017-03-31 0.10 -6.18 0.67
2016-12-31 0.15 -10.87 0.73
2016-09-30 0.16 -12.55 0.72
2016-06-30 0.17 -14.22 0.70
2016-03-31 0.14 -9.53 0.71
2015-12-31 0.12 -4.84 0.72
2015-09-30 0.12 -5.06 0.78
2015-06-30 0.12 -5.27 0.83
2015-03-31 0.08 -5.38 0.84
2014-12-31 0.05 -5.49 0.85
2014-09-30 0.03 -3.71 0.94
2014-06-30 0.01 -1.94 1.03
2014-03-31 0.01 -2.57 1.05
2013-12-31 0.01 -3.20 1.08
2013-09-30 0.01 -5.81 1.10
2013-06-30 0.01 -8.42 1.11
2013-03-31 0.02 -7.52 1.05
2012-12-31 0.03 -6.61 0.99
2012-09-30 0.03 -3.92 0.99
2012-06-30 0.04 -1.22 1.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Gas2Grid has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) due to its liabilities exceeding its assets.
  • Gas2Grid used its assets less efficiently than the AU Oil and Gas industry average last year based on Return on Assets.
  • It is difficult to establish if Gas2Grid improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Gas2Grid's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Gas2Grid has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

GGX Health

 How is Gas2Grid's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Gas2Grid's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Gas2Grid is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Gas2Grid's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Gas2Grid's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Gas2Grid has negative shareholder equity (liabilities exceed assets) therefore debt is not covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Gas2Grid Company Filings, last reported 3 months ago.

ASX:GGX Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 -9.09 8.10 0.67
2018-09-30 -9.09 8.10 0.67
2018-06-30 -8.94 8.10 0.22
2018-03-31 -8.94 8.10 0.22
2017-12-31 -8.68 7.78 0.01
2017-09-30 -8.68 7.78 0.01
2017-06-30 -7.96 7.29 0.04
2017-03-31 -7.96 7.29 0.04
2016-12-31 -7.19 7.18 0.07
2016-09-30 -7.19 7.18 0.07
2016-06-30 -6.54 6.57 0.07
2016-03-31 -6.54 6.57 0.07
2015-12-31 3.62 5.83 0.06
2015-09-30 3.62 5.83 0.06
2015-06-30 7.34 5.42 0.17
2015-03-31 7.34 5.42 0.17
2014-12-31 8.13 4.85 0.26
2014-09-30 8.13 4.85 0.26
2014-06-30 12.21 3.95 0.30
2014-03-31 12.21 3.95 0.30
2013-12-31 13.22 3.79 1.04
2013-09-30 13.22 3.79 1.04
2013-06-30 12.07 2.29 1.71
2013-03-31 12.07 2.29 1.71
2012-12-31 13.22 0.00 1.22
2012-09-30 13.22 0.00 1.22
2012-06-30 16.36 0.00 3.12
  • Gas2Grid has negative shareholder equity (liabilities exceed assets), this is a more serious situation compared with a high debt level.
  • Irrelevant to check if Gas2Grid's debt level has increased considering it has negative shareholder equity.
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making Gas2Grid has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Gas2Grid has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -65.7% per year.
X
Financial health checks
We assess Gas2Grid's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Gas2Grid has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

GGX Dividends

 What is Gas2Grid's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Gas2Grid dividends.
If you bought A$2,000 of Gas2Grid shares you are expected to receive A$0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Gas2Grid's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Gas2Grid's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
ASX:GGX Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Australia Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 13 Stocks 4.6%
Australia Market Average Dividend Yield Market Cap Weighted Average of 417 Stocks 4.3%
Australia Minimum Threshold Dividend Yield 10th Percentile 1.6%
Australia Bottom 25% Dividend Yield 25th Percentile 2.5%
Australia Top 25% Dividend Yield 75th Percentile 5.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Gas2Grid has not reported any payouts.
  • Unable to verify if Gas2Grid's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Gas2Grid's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Gas2Grid has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Gas2Grid's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.6%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Gas2Grid afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Gas2Grid has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

GGX Management

 What is the CEO of Gas2Grid's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Dennis Morton
COMPENSATION A$145,000
TENURE AS CEO 11.1 years
CEO Bio

Mr. Dennis James Morton, BSc (Hons), serves as Non-executive Director at International Base Metals Limited since January 23, 2018. He has been the Managing Director at Gas2grid Limited since March 31, 2008. Mr. Morton founded Eastern Star Gas Ltd., and served as its Managing Director until November 2007. He served as Consultant and established the petroleum assets. He served as Resident Australian Manager of Bow Valley Resources Inc., for three years. He was in senior Executive positions with Bow Valley (Australia) Ltd., and Capital Energy Limited. Mr. Morton worked with Hartogen Energy Limited since 1981 for 10 years and served as its Exploration Manager. He served at Esso Australia Limited since 1975. Mr. Morton was the Founder of Macquarie Gold Limited and has been its Non-Executive Chairman since December 17, 2010. He served as Non-Executive Deputy Chairman at Petrel Energy Limited (formerly Orion Petroleum Limited) from July 9, 2007 to June 8, 2011. Mr. Morton has been an Executive Director of Gas2grid Limited since March 31, 2008. He served as a Director of Orion Petroleum Limited from July 7, 2007 to June 8, 2011. He served as a Director of Eastern Star Gas Ltd. from August 25, 2000 to October 31, 2007. He served as an Executive Director of Capital Energy NL and Stirling Resources NL. Mr. Morton holds BSc. in Geology from Macquarie University in 1975.

CEO Compensation
  • Dennis's compensation has been consistent with company performance over the past year.
  • Dennis's remuneration is lower than average for companies of similar size in Australia.
Management Team

David Munns

TITLE
Non Executive Chairman & Operations Consultant
COMPENSATION
A$35K

Dennis Morton

TITLE
MD & Executive Director
COMPENSATION
A$145K
TENURE
11.1 yrs

Patrick Sam Yue

TITLE
Finance Director
COMPENSATION
A$149K

Mike Walcott

TITLE
Technical Consultant

Len Diekman

TITLE
Technical Consultant

Gene Estuesta

TITLE
Philippine Consultant

Jean-Pierre Javogues

TITLE
France Consultant
Board of Directors Tenure

Average tenure of the Gas2Grid board of directors in years:

11.1
Average Tenure
  • The average tenure for the Gas2Grid board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

David Munns

TITLE
Non Executive Chairman & Operations Consultant
COMPENSATION
A$35K
TENURE
14.3 yrs

Dennis Morton

TITLE
MD & Executive Director
COMPENSATION
A$145K
TENURE
11.1 yrs

Patrick Sam Yue

TITLE
Finance Director
COMPENSATION
A$149K
TENURE
9.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (A$) Value (A$)
X
Management checks
We assess Gas2Grid's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Gas2Grid has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

GGX News

Simply Wall St News

Did Changing Sentiment Drive Gas2Grid's Share Price Down A Painful 88%?

Spare a thought for those who held Gas2Grid Limited (ASX:GGX) for five whole years - as the share price tanked 88%. … As a result, we think it's unlikely shareholders are paying much attention to current revenue, but rather speculating on growth in the years to come. … But with the share price diving 34% per year, over 5 years, it's probably fair to say that some shareholders no longer believe the company will succeed.

Simply Wall St -

Is Gas2Grid Limited (ASX:GGX) Excessively Paying Its CEO?

First, this article will compare CEO compensation with compensation at similar sized companies. … And finally - as a second measure of performance - we will look at the returns shareholders have received over the last few years. … How Does Dennis Morton's Compensation Compare With Similar Sized Companies?

Simply Wall St -

What Kind Of Shareholder Owns Most Gas2Grid Limited (ASX:GGX) Stock?

A look at the shareholders of Gas2Grid Limited (ASX:GGX) can tell us which group is most powerful. … As Nassim Nicholas Taleb said, 'Don’t tell me what you think, tell me what you have in your portfolio.'. … Let's take a closer look to see what the different types of shareholder can tell us about GGX

Simply Wall St -

Does The Gas2Grid Limited (ASX:GGX) Share Price Tend To Follow The Market?

Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … Before we go on, it's worth noting that Warren Buffett pointed out in his 2014 letter to shareholders that 'volatility is far from synonymous with risk.' Having said that, beta can still be rather useful.

Simply Wall St -

How Should Investors React To Gas2grid Limited's (ASX:GGX) CEO Pay?

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Dennis Morton's Compensation Compare With Similar Sized Companies. … A first glance this seems like a real positive for shareholders, since Dennis Morton is paid less than the average compensation paid by similar sized companies.

Simply Wall St -

Why Gas2grid Limited's (ASX:GGX) Investor Composition Impacts Your Returns

In this analysis, my focus will be on developing a perspective on Gas2grid Limited’s (ASX:GGX) latest ownership structure, a less discussed, but important factor. … The effect of an active institutional investor with a similar ownership as a passive pension-fund can be vastly different on a company's corporate governance and accountability to shareholders. … ASX:GGX Ownership Summary August 14th 18

Simply Wall St -

Did Gas2grid Limited's (ASX:GGX) Recent Earnings Growth Beat The Trend?

After reading Gas2grid Limited's (ASX:GGX) most recent earnings announcement (31 December 2017), I found it useful to look back at how the company has performed in the past and compare this against the latest numbers. … As a long term investor, I pay close attention to earnings trend, rather than the figures published at one point in time. … GGX is loss-making, with the most recent trailing twelve-month earnings of -AU$1.55m (from 31 December 2017), which compared to last year has become.

Simply Wall St -

What You Must Know About Gas2grid Limited's (ASX:GGX) Market Risks

Any stock with a beta of greater than one is considered more volatile than the market, and those with a beta less than one is generally less volatile. … With a beta of 1.06, Gas2grid is a stock that tends to experience more gains than the market during a growth phase and also a bigger reduction in value compared to the market during a broad downturn. … However, this is the opposite to what GGX’s actual beta value suggests, which is higher stock volatility relative to the market.

Simply Wall St -

Who Owns Gas2grid Limited (ASX:GGX)?

In this article, I will take a quick look at Gas2grid Limited’s (ASX:GGX) recent ownership structure – an unconventional investing subject, but an important one. … View our latest analysis for Gas2grid ASX:GGX Ownership_summary Apr 19th 18 Institutional Ownership Institutional investors transact in large blocks which can influence the momentum of stock prices, at least in the short-term, especially when there is a low level of public shares available on the market to trade. … The company hardly has institutions in its ownership structure, indicating limited concern for investors to worry about potential sell-offs that could arise due to extensive liquidation.

Simply Wall St -

How Should Investors Feel About Gas2grid Limited's (ASX:GGX) CEO Pay?

ASX:GGX Past Future Earnings Apr 12th 18 Is GGX's CEO overpaid relative to the market? … Usually I would look at market cap and earnings as a proxy for performance, however, GGX's negative earnings reduces the usefulness of my formula. … If you have not done so already, I urge you to complete your research by taking a look at the following: Governance: To find out more about GGX's governance, look through our infographic report of the company's board and management.

Simply Wall St -

GGX Company Info

Description

Gas2Grid Limited engages in the exploration of oil and gas in the Philippines and France. The company holds a 100% interest in the Service Contract 44 covering an area of approximately 750 square kilometers located on Cebu Island, the Philippines; and St Griede license covering an area of approximately 653 square kilometers located in onshore Aquitaine Basin, France. Gas2Grid Limited was founded in 2004 and is headquartered in Sydney, Australia.

Details
Name: Gas2Grid Limited
GGX
Exchange: ASX
Founded: 2004
A$5,722,045
1,144,409,076
Website: http://www.gas2grid.com
Address: Gas2Grid Limited
Export House,
Level 2,
Sydney,
New South Wales, 2000,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX GGX Ordinary Shares Australian Securities Exchange AU AUD 13. May 2005
CHIA GGX Ordinary Shares Chi-X Australia AU AUD 13. May 2005
Number of employees
Current staff
Staff numbers
0
Gas2Grid employees.
Industry
Oil and Gas Exploration and Production
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/23 10:33
End of day share price update: 2019/04/16 00:00
Last earnings filing: 2019/03/15
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/06/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.