Gaztransport & Technigaz SA

DB:9TG Stock Report

Market Cap: €5.1b

Gaztransport & Technigaz Valuation

Is 9TG undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 9TG when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 9TG (€137.6) is trading below our estimate of fair value (€167.64)

Significantly Below Fair Value: 9TG is trading below fair value, but not by a significant amount.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for 9TG?

Other financial metrics that can be useful for relative valuation.

9TG key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue11.3x
Enterprise Value/EBITDA20.5x
PEG Ratio2x

Price to Earnings Ratio vs Peers

How does 9TG's PE Ratio compare to its peers?

The above table shows the PE ratio for 9TG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average20.9x
VH2 Friedrich Vorwerk Group
29.4x28.6%€298.8m
VBK Verbio
23.2x43.1%€1.2b
CE2 CropEnergies
15.3x-7.5%€1.0b
CE2 CropEnergies
15.5x-7.5%€1.0b
9TG Gaztransport & Technigaz
25.2x12.8%€5.1b

Price-To-Earnings vs Peers: 9TG is expensive based on its Price-To-Earnings Ratio (25.2x) compared to the peer average (20.9x).


Price to Earnings Ratio vs Industry

How does 9TG's PE Ratio compare vs other companies in the European Oil and Gas Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a-1.5%
n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a-1.5%
n/an/an/a
No more companies

Price-To-Earnings vs Industry: 9TG is expensive based on its Price-To-Earnings Ratio (25.2x) compared to the European Oil and Gas industry average (6.9x).


Price to Earnings Ratio vs Fair Ratio

What is 9TG's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

9TG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio25.2x
Fair PE Ratio22x

Price-To-Earnings vs Fair Ratio: 9TG is expensive based on its Price-To-Earnings Ratio (25.2x) compared to the estimated Fair Price-To-Earnings Ratio (22x).


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 9TG forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€137.60
€164.78
+19.8%
6.7%€175.00€148.70n/a6
Apr ’25€139.70
€160.45
+14.9%
7.5%€175.00€147.00n/a6
Mar ’25€143.60
€155.83
+8.5%
11.1%€175.00€130.00n/a6
Feb ’25€133.20
€146.45
+9.9%
10.3%€172.00€130.00n/a6
Jan ’25€120.40
€143.43
+19.1%
10.0%€172.00€128.60n/a6
Dec ’24€124.50
€143.43
+15.2%
10.0%€172.00€128.60n/a6
Nov ’24€121.50
€143.02
+17.7%
10.3%€172.00€126.10n/a6
Oct ’24€116.80
€141.60
+21.2%
11.4%€172.00€123.60n/a6
Sep ’24€116.70
€141.60
+21.3%
11.4%€172.00€123.60n/a6
Aug ’24€112.00
€141.27
+26.1%
11.4%€172.00€123.60n/a6
Jul ’24€92.10
€135.14
+46.7%
13.5%€172.00€112.00n/a7
Jun ’24€93.45
€135.14
+44.6%
13.5%€172.00€112.00n/a7
May ’24€96.55
€136.57
+41.5%
13.0%€172.00€112.00n/a7
Apr ’24€93.40
€136.71
+46.4%
13.0%€172.00€112.00€139.707
Mar ’24€98.50
€136.71
+38.8%
13.0%€172.00€112.00€143.607
Feb ’24€102.40
€136.71
+33.5%
12.4%€172.00€115.00€133.207
Jan ’24€99.90
€140.71
+40.9%
13.4%€172.00€115.00€120.407
Dec ’23€116.20
€145.00
+24.8%
11.6%€172.00€115.00€124.507
Nov ’23€117.30
€145.00
+23.6%
11.6%€172.00€115.00€121.507
Oct ’23€111.70
€145.12
+29.9%
12.6%€172.00€115.00€116.806
Sep ’23€123.50
€141.78
+14.8%
15.8%€172.00€100.00€116.706
Aug ’23€133.00
€138.45
+4.1%
16.1%€172.00€100.00€112.006
Jul ’23€117.60
€127.93
+8.8%
13.9%€150.00€100.00€92.106
Jun ’23€120.60
€125.83
+4.3%
15.0%€150.00€100.00€93.456
May ’23€114.00
€121.17
+6.3%
13.0%€150.00€100.00€96.556
Apr ’23€103.20
€100.02
-3.1%
6.9%€115.00€95.00€93.406

Analyst Forecast: Target price is less than 20% higher than the current share price.


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