Gaztransport & Technigaz SA

BATS-CHIXE:GTTP Stock Report

Market Cap: €5.2b

Gaztransport & Technigaz Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • 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 GTTP when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: GTTP (€141.8) is trading below our estimate of fair value (€234.88)

Significantly Below Fair Value: GTTP is trading below fair value by more than 20%.

Key Valuation Metric

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

Key metric: As GTTP is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for GTTP. This is calculated by dividing GTTP's market cap by their current earnings.
What is GTTP's PE Ratio?
PE Ratio18.2x
Earnings€287.65m
Market Cap€5.23b

Price to Earnings Ratio vs Peers

How does GTTP's PE Ratio compare to its peers?

The above table shows the PE ratio for GTTP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average22.8x
HBR Harbour Energy
49.1x14.4%UK£3.8b
NWF NWF Group
7.9x3.1%UK£72.2m
ITH Ithaca Energy
14.7x-8.4%UK£1.9b
SEPL Seplat Energy
19.5x13.4%UK£1.3b
GTTP Gaztransport & Technigaz
18.2x6.7%€5.2b

Price-To-Earnings vs Peers: GTTP is good value based on its Price-To-Earnings Ratio (18.2x) compared to the peer average (22.8x).

Price to Earnings Ratio vs Industry

How does GTTP's PE Ratio compare vs other companies in the GB Oil and Gas Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
ROSN Rosneft Oil
1.5xn/aUS$21.03b
INDI Indus Gas
0.9xn/aUS$17.25m
No more companies available in this PE range
No. of Companies5PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: GTTP is expensive based on its Price-To-Earnings Ratio (18.2x) compared to the UK Oil and Gas industry average (8.9x).

Price to Earnings Ratio vs Fair Ratio

What is GTTP'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.

GTTP PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio18.2x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate GTTP's Price-To-Earnings Fair Ratio for valuation analysis.

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 GTTP forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€141.80
€168.67
+18.9%
6.1%€180.00€150.00n/a6
Nov ’25€137.40
€168.67
+22.8%
6.1%€180.00€150.00n/a6
Oct ’25n/a
€166.17
0%
6.0%€175.00€150.00n/a6
Sep ’25n/a
€166.17
0%
6.0%€175.00€150.00n/a6
Aug ’25€130.70
€165.00
+26.2%
6.9%€175.00€148.00n/a6
Jul ’25€125.05
€164.67
+31.7%
6.8%€175.00€148.00n/a6
Jun ’25€132.55
€164.67
+24.2%
6.8%€175.00€148.00n/a6
May ’25n/a
€164.60
0%
6.9%€175.00€148.00n/a6
Apr ’25€139.50
€160.45
+15.0%
7.5%€175.00€147.00n/a6
Mar ’25€144.00
€155.83
+8.2%
11.1%€175.00€130.00n/a6
Feb ’25n/a
€146.45
0%
10.3%€172.00€130.00n/a6
Jan ’25n/a
€143.43
0%
10.0%€172.00€128.60n/a6
Dec ’24n/a
€143.43
0%
10.0%€172.00€128.60n/a6
Nov ’24n/a
€143.02
0%
10.3%€172.00€126.10€137.406
Oct ’24n/a
€141.60
0%
11.4%€172.00€123.60n/a6
Sep ’24€114.80
€141.60
+23.3%
11.4%€172.00€123.60n/a6
Aug ’24€112.30
€141.27
+25.8%
11.4%€172.00€123.60€130.706
Jul ’24€92.50
€135.14
+46.1%
13.5%€172.00€112.00€125.057
Jun ’24€93.25
€135.14
+44.9%
13.5%€172.00€112.00€132.557
May ’24n/a
€136.57
0%
13.0%€172.00€112.00n/a7
Apr ’24€89.75
€136.71
+52.3%
13.0%€172.00€112.00€139.507
Mar ’24€100.40
€136.71
+36.2%
13.0%€172.00€112.00€144.007
Feb ’24€102.20
€136.71
+33.8%
12.4%€172.00€115.00n/a7
Jan ’24€100.20
€140.71
+40.4%
13.4%€172.00€115.00n/a7
Dec ’23€117.90
€145.00
+23.0%
11.6%€172.00€115.00n/a7
Nov ’23€118.40
€145.00
+22.5%
11.6%€172.00€115.00n/a7

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

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