Stock Analysis Report

TGS-NOPEC Geophysical

Executive Summary

TGS-NOPEC Geophysical Company ASA provides geoscientific data products and services to the oil and gas industry worldwide.

Snowflake Analysis

Excellent balance sheet with reasonable growth potential.

Similar Companies

Share Price & News

How has TGS-NOPEC Geophysical's share price performed over time and what events caused price changes?

Latest Share Price and Events

Stable Share Price: TGS has not had significant price volatility in the past 3 months.

Market Performance

7 Day Return




NO Energy Services


NO Market

1 Year Return




NO Energy Services


NO Market

Return vs Industry: TGS exceeded the Norwegian Energy Services industry which returned -32.8% over the past year.

Return vs Market: TGS matched the Norwegian Market which returned -5.1% over the past year.

Shareholder returns

7 Day-3.1%-9.0%-5.1%
30 Day-7.6%-17.6%-5.3%
90 Day-13.6%-19.6%-3.2%
1 Year-0.7%-5.2%-30.2%-32.2%-0.7%-5.6%
3 Year35.9%22.9%-28.1%-33.0%25.1%9.4%
5 Year44.0%19.3%-18.1%-48.5%52.3%18.3%

Price Volatility Vs. Market

How volatile is TGS-NOPEC Geophysical's share price compared to the market and industry in the last 5 years?

Simply Wall St News


Is TGS-NOPEC Geophysical undervalued compared to its fair value and its price relative to the market?


Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: TGS (NOK226.3) is trading below our estimate of fair value (NOK306.18)

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

Price To Earnings Ratio

PE vs Industry: TGS is poor value based on its PE Ratio (26.2x) compared to the Energy Services industry average (9.8x).

PE vs Market: TGS is poor value based on its PE Ratio (26.2x) compared to the Norwegian market (14.5x).

Price to Earnings Growth Ratio

PEG Ratio: TGS is good value based on its PEG Ratio (0.8x)

Price to Book Ratio

PB vs Industry: TGS is overvalued based on its PB Ratio (1.8x) compared to the NO Energy Services industry average (0.5x).

Next Steps

Future Growth

How is TGS-NOPEC Geophysical forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: TGS's forecast earnings growth (31.7% per year) is above the savings rate (0.7%).

Earnings vs Market: TGS's earnings (31.7% per year) are forecast to grow faster than the Norwegian market (18.5% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: TGS's revenue (16.9% per year) is forecast to grow faster than the Norwegian market (3.4% per year).

High Growth Revenue: TGS's revenue (16.9% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: TGS's Return on Equity is forecast to be low in 3 years time (18.9%).

Next Steps

Past Performance

How has TGS-NOPEC Geophysical performed over the past 5 years?


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: TGS has high quality earnings.

Growing Profit Margin: TGS's current net profit margins (17%) are lower than last year (29.1%).

Past Earnings Growth Analysis

Earnings Trend: TGS's earnings have grown by 13.8% per year over the past 5 years.

Accelerating Growth: TGS's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: TGS had negative earnings growth (-44.4%) over the past year, making it difficult to compare to the Energy Services industry average (-44.4%).

Return on Equity

High ROE: TGS's Return on Equity (6.5%) is considered low.

Return on Assets

Return on Capital Employed

Next Steps

Financial Health

How is TGS-NOPEC Geophysical's financial position?

Financial Position Analysis

Short Term Liabilities: TGS's short term assets ($721.6M) exceed its short term liabilities ($584.8M).

Long Term Liabilities: TGS's short term assets ($721.6M) exceed its long term liabilities ($67.3M).

Debt to Equity History and Analysis

Debt Level: TGS's debt to equity ratio (0.2%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if TGS's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: TGS's debt is well covered by operating cash flow (19958.9%).

Interest Coverage: TGS earns more interest than it pays, so coverage of interest payments is not a concern.

Balance Sheet

Inventory Level: TGS has a low level of unsold assets or inventory.

Debt Coverage by Assets: TGS's debt is covered by short term assets (assets are 256.9x debt).

Next Steps


What is TGS-NOPEC Geophysical's current dividend yield, its reliability and sustainability?


Current Dividend Yield

Dividend Yield vs Market


Current dividend yield vs market & industry

Notable Dividend: TGS's dividend (6.21%) is higher than the bottom 25% of dividend payers in the Norwegian market (3%).

High Dividend: TGS's dividend (6.21%) is low compared to the top 25% of dividend payers in the Norwegian market (6.42%).

Stability and Growth of Payments

Stable Dividend: TGS's dividend payments have been volatile in the past 10 years.

Growing Dividend: TGS's dividend payments have increased over the past 10 years.

Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (117.4%), TGS's dividend payments are not well covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: TGS's dividends in 3 years are forecast to be covered by earnings (70.9% payout ratio).

Next Steps


How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


Kristian Johansen (48yo)





Mr. Kristian Kuvaas Johansen has been the Chief Executive Officer of TGS-NOPEC Geophysical Company ASA since March 11, 2016 and has been its Interim Leader North & South America since January 13, 2017. Mr. ...

CEO Compensation Analysis

Compensation vs Market: Kristian's total compensation ($USD2.16M) is above average for companies of similar size in the Norwegian market ($USD876.38K).

Compensation vs Earnings: Kristian's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

Leadership Team

Kristian Johansen
Chief Executive Officer3.9yrsUS$2.16m0.048% $12.8m
Fredrik Amundsen
Chief Financial Officer0yrsUS$597.00k0.0083% $2.2m
Tana Pool
Executive VP of Legal & General Counsel7.1yrsUS$615.00k0.0079% $2.1m
Tanya Herwanger
Executive Vice President of Staff & Support0.5yrsUS$358.50k0.0054% $1.4m
Will Ashby
Executive Vice President of North America1.1yrsUS$585.00k0.010% $2.7m
Katja Akentieva
Executive Vice President of Onshore3.8yrsUS$639.00k0.0095% $2.5m
Jan Schoolmeesters
Executive Vice President of Operations0.5yrsno data0.043% $11.5m
Paul Young
Managing Director of Asia Pacific8.7yrsno datano data
Rune Eng
Executive Vice President of Southern Hemisphere & Europe0.5yrsno data0.31% $82.2m
Scott Michell
Senior VP of Imaging0.08yrsno datano data


Average Tenure


Average Age

Experienced Management: TGS's management team is not considered experienced ( 1.1 years average tenure), which suggests a new team.

Board Members

Henry Hamilton
Chairman of the Board10.7yrsUS$200.00k1.16% $305.8m
Torstein Sanness
Independent Director3.8yrsUS$82.00k0.0056% $1.5m
Christopher Finlayson
Independent Director0.8yrsno datano data
Wenche Agerup
Independent Director4.8yrsUS$82.00k0.0070% $1.9m
Mark Leonard
Independent Director11.1yrsUS$88.00k0.020% $5.4m
Tor Lønnum
Independent Director6.7yrsUS$88.00k0.0098% $2.6m
Vicki Messer
Independent Director8.7yrsUS$82.00k0.013% $3.3m
Irene Egset
Independent Director0.8yrsno data0.0014% $373.2k


Average Tenure


Average Age

Experienced Board: TGS's board of directors are considered experienced (5.7 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 5.6%.

Top Shareholders

Company Information

TGS-NOPEC Geophysical Company ASA's company bio, employee growth, exchange listings and data sources

Key Information

  • Name: TGS-NOPEC Geophysical Company ASA
  • Ticker: TGS
  • Exchange: OB
  • Founded: 1981
  • Industry: Oil and Gas Equipment and Services
  • Sector: Energy
  • Market Cap: kr26.465b
  • Shares outstanding: 116.94m
  • Website: https://www.tgs.com

Number of Employees


  • TGS-NOPEC Geophysical Company ASA
  • Lensmannslia 4
  • Asker
  • 1386
  • Norway


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TGSOB (Oslo Bors)YesOrdinary SharesNONOKOct 1997
TGCDB (Deutsche Boerse AG)YesOrdinary SharesDEEUROct 1997
TGSN.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDOct 1997
0MSJLSE (London Stock Exchange)YesOrdinary SharesGBNOKOct 1997
TGSOBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBNOKOct 1997


TGS-NOPEC Geophysical Company ASA provides geoscientific data products and services to the oil and gas industry worldwide. The company offers geophysical multi-client data, including seismic data; and geophysical library, such as gravity, magnetic, seep, geothermal, controlled source electromagnetic, and multi-beam data. It also provides geological services comprising digital well logs; and interpretation services and other geoscientific data to support hydrocarbon exploration. In addition, the company offers imaging services, which include depth and time imaging; marine, land, and ocean bottom cables and nodes; anisotropic imaging; transition zone processing; multi component processing; shear wave; and 4D time-lapse, as well as wide azimuth data processing. Further, it provides data and analytics solutions; data integration products; and PRIMA, a multi-function exploration software suite. TGS-NOPEC Geophysical Company ASA has a strategic collaborations with Axxis Geo Solutions and Schlumberger Limited for Ocean Bottom Node Projects in North Sea. TGS-NOPEC Geophysical Company ASA was founded in 1981 and is headquartered in Asker, Norway. 

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/26 21:23
End of Day Share Price2020/02/26 00:00
Annual Earnings2019/12/31

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.