PETRONAS Gas Berhad

KLSE:PETGAS Stock Report

Market Cap: RM 35.0b

PETRONAS Gas Berhad Valuation

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

Below Fair Value: PETGAS (MYR17.68) is trading below our estimate of fair value (MYR19.77)

Significantly Below Fair Value: PETGAS 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 PETGAS?

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

The above table shows the Price to Earnings ratio for PETGAS. This is calculated by dividing PETGAS's market cap by their current earnings.
What is PETGAS's PE Ratio?
PE Ratio18.8x
EarningsRM 1.86b
Market CapRM 34.98b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for PETGAS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average14.9x
GASMSIA Gas Malaysia Berhad
12.7x0.4%RM 5.5b
YTLPOWR YTL Power International Berhad
11.9x3.5%RM 35.9b
YTL YTL Corporation Berhad
15.1x9.5%RM 29.5b
TENAGA Tenaga Nasional Berhad
19.9x8.1%RM 86.3b
PETGAS PETRONAS Gas Berhad
18.8x3.2%RM 35.0b

Price-To-Earnings vs Peers: PETGAS is expensive based on its Price-To-Earnings Ratio (18.8x) compared to the peer average (14.9x).

Price to Earnings Ratio vs Industry

How does PETGAS's PE Ratio compare vs other companies in the Asian Gas Utilities Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
PETGAS 18.8xIndustry Avg. 14.4xNo. of Companies10PE0816243240+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: PETGAS is expensive based on its Price-To-Earnings Ratio (18.8x) compared to the Asian Gas Utilities industry average (14.4x).

Price to Earnings Ratio vs Fair Ratio

What is PETGAS'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.

PETGAS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio18.8x
Fair PE Ratio13x

Price-To-Earnings vs Fair Ratio: PETGAS is expensive based on its Price-To-Earnings Ratio (18.8x) compared to the estimated Fair Price-To-Earnings Ratio (13x).

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 PETGAS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentRM 17.68
RM 18.30
+3.5%
5.3%RM 20.30RM 16.75n/a14
Dec ’25RM 17.84
RM 18.44
+3.4%
5.8%RM 20.30RM 16.75n/a13
Nov ’25RM 17.42
RM 18.49
+6.1%
6.7%RM 21.20RM 16.52n/a13
Oct ’25RM 17.98
RM 18.49
+2.8%
6.7%RM 21.20RM 16.52n/a13
Sep ’25RM 18.28
RM 18.49
+1.1%
6.7%RM 21.20RM 16.52n/a13
Aug ’25RM 17.88
RM 18.49
+3.4%
6.6%RM 20.60RM 16.52n/a12
Jul ’25RM 17.76
RM 18.37
+3.4%
6.8%RM 20.60RM 16.52n/a13
Jun ’25RM 18.26
RM 18.37
+0.6%
6.8%RM 20.60RM 16.52n/a13
May ’25RM 18.00
RM 18.35
+1.9%
6.8%RM 20.60RM 16.52n/a13
Apr ’25RM 18.26
RM 18.35
+0.5%
6.8%RM 20.60RM 16.52n/a13
Mar ’25RM 17.82
RM 18.26
+2.5%
6.8%RM 20.60RM 16.46n/a13
Feb ’25RM 17.74
RM 18.02
+1.6%
7.2%RM 20.60RM 15.98n/a13
Jan ’25RM 17.40
RM 18.02
+3.6%
7.2%RM 20.60RM 15.98n/a13
Dec ’24RM 16.86
RM 18.02
+6.9%
7.2%RM 20.60RM 15.98RM 17.8413
Nov ’24RM 17.08
RM 17.93
+5.0%
7.1%RM 20.60RM 15.98RM 17.4213
Oct ’24RM 16.84
RM 17.93
+6.5%
7.1%RM 20.60RM 15.98RM 17.9813
Sep ’24RM 17.26
RM 17.93
+3.9%
7.1%RM 20.60RM 15.98RM 18.2813
Aug ’24RM 17.12
RM 17.88
+4.4%
7.2%RM 20.60RM 15.98RM 17.8813
Jul ’24RM 16.70
RM 17.88
+7.0%
7.2%RM 20.60RM 15.98RM 17.7613
Jun ’24RM 16.56
RM 17.88
+7.9%
7.2%RM 20.60RM 15.98RM 18.2613
May ’24RM 16.90
RM 17.94
+6.2%
7.0%RM 20.60RM 15.98RM 18.0013
Apr ’24RM 16.48
RM 17.94
+8.9%
7.0%RM 20.60RM 15.98RM 18.2613
Mar ’24RM 16.54
RM 17.85
+7.9%
7.1%RM 20.60RM 15.98RM 17.8212
Feb ’24RM 16.82
RM 17.85
+6.1%
5.9%RM 20.20RM 16.40RM 17.7411
Jan ’24RM 17.12
RM 17.75
+3.7%
5.9%RM 20.20RM 16.40RM 17.4012
Dec ’23RM 16.82
RM 17.86
+6.2%
7.0%RM 20.49RM 16.40RM 16.8612

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/30 01:32
End of Day Share Price 2024/12/30 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

PETRONAS Gas Berhad is covered by 29 analysts. 14 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Jianyuan TanAffin Hwang Investment Bank
Chee ChowAffin Hwang Investment Bank
Ping GohAlliance Research Sdn. Bhd.