TGS Valuation
Is TGS undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
2/6Valuation Score 2/6
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 TGS when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: TGS (NOK95.8) is trading below our estimate of fair value (NOK462.11)
Significantly Below Fair Value: TGS is trading below fair value by more than 20%.
Key Valuation Metric
Which metric is best to use when looking at relative valuation for TGS?
Other financial metrics that can be useful for relative valuation.
| What is TGS's n/a Ratio? | |
|---|---|
| n/a | 0x |
| n/a | n/a |
| Market Cap | US$1.72b |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | 2.2x |
| Enterprise Value/EBITDA | 5.6x |
| PEG Ratio | 1.1x |
Price to Earnings Ratio vs Peers
How does TGS's PE Ratio compare to its peers?
| Company | Forward PE | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 16.5x | ||
AKSO Aker Solutions | 13.6x | 7.5% | NOK 20.3b |
DOFG DOF Group | 4.9x | 26.8% | NOK 15.8b |
SUBC Subsea 7 | 46.1x | 35.5% | NOK 52.0b |
SEA1 Sea1 Offshore | 1.4x | -39.6% | NOK 4.0b |
TGS TGS | 65x | 59.1% | NOK 18.8b |
Price-To-Earnings vs Peers: TGS is expensive based on its Price-To-Earnings Ratio (65x) compared to the peer average (16.5x).
Price to Earnings Ratio vs Industry
How does TGS's PE Ratio compare vs other companies in the NO Energy Services Industry?
Price-To-Earnings vs Industry: TGS is expensive based on its Price-To-Earnings Ratio (65x) compared to the Norwegian Energy Services industry average (8.6x).
Price to Earnings Ratio vs Fair Ratio
What is TGS'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.
| Fair Ratio | |
|---|---|
| Current PE Ratio | 65x |
| Fair PE Ratio | 22.5x |
Price-To-Earnings vs Fair Ratio: TGS is expensive based on its Price-To-Earnings Ratio (65x) compared to the estimated Fair Price-To-Earnings Ratio (22.5x).
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
| Date | Share Price | Average 1Y Price Target | Dispersion | High | Low | 1Y Actual price | Analysts |
|---|---|---|---|---|---|---|---|
| Current | NOK 95.80 | NOK 145.28 +51.6% | 36.5% | NOK 248.00 | NOK 70.86 | n/a | 6 |
| Oct ’25 | NOK 100.50 | NOK 155.57 +54.8% | 25.0% | NOK 239.69 | NOK 125.11 | n/a | 6 |
| Sep ’25 | NOK 121.40 | NOK 160.40 +32.1% | 25.5% | NOK 236.72 | NOK 124.94 | n/a | 5 |
| Aug ’25 | NOK 131.30 | NOK 163.42 +24.5% | 26.6% | NOK 244.68 | NOK 125.72 | n/a | 5 |
| Jul ’25 | NOK 129.60 | NOK 150.21 +15.9% | 14.2% | NOK 181.20 | NOK 124.72 | n/a | 5 |
| Jun ’25 | NOK 137.00 | NOK 148.01 +8.0% | 14.7% | NOK 178.06 | NOK 124.66 | n/a | 5 |
| May ’25 | NOK 127.20 | NOK 149.35 +17.4% | 13.2% | NOK 185.98 | NOK 130.68 | n/a | 5 |
| Apr ’25 | NOK 118.20 | NOK 140.69 +19.0% | 24.2% | NOK 199.69 | NOK 104.84 | n/a | 5 |
| Mar ’25 | NOK 106.30 | NOK 142.90 +34.4% | 22.5% | NOK 199.56 | NOK 104.77 | n/a | 5 |
| Feb ’25 | NOK 101.70 | NOK 155.19 +52.6% | 16.7% | NOK 199.48 | NOK 121.56 | n/a | 5 |
| Jan ’25 | NOK 132.20 | NOK 187.00 +41.5% | 13.0% | NOK 214.15 | NOK 146.07 | n/a | 5 |
| Dec ’24 | NOK 135.10 | NOK 187.00 +38.4% | 13.0% | NOK 214.15 | NOK 146.07 | n/a | 5 |
| Nov ’24 | NOK 154.30 | NOK 195.25 +26.5% | 14.5% | NOK 232.94 | NOK 150.13 | n/a | 5 |
| Oct ’24 | NOK 146.60 | NOK 208.69 +42.4% | 13.2% | NOK 233.15 | NOK 155.48 | NOK 100.50 | 5 |
| Sep ’24 | NOK 143.00 | NOK 204.65 +43.1% | 9.9% | NOK 230.44 | NOK 168.81 | NOK 121.40 | 6 |
| Aug ’24 | NOK 140.90 | NOK 201.28 +42.9% | 5.9% | NOK 219.38 | NOK 180.22 | NOK 131.30 | 6 |
| Jul ’24 | NOK 159.70 | NOK 219.21 +37.3% | 10.3% | NOK 240.37 | NOK 182.25 | NOK 129.60 | 6 |
| Jun ’24 | NOK 150.00 | NOK 228.66 +52.4% | 8.1% | NOK 249.70 | NOK 199.81 | NOK 137.00 | 6 |
| May ’24 | NOK 166.80 | NOK 230.08 +37.9% | 9.6% | NOK 262.42 | NOK 202.06 | NOK 127.20 | 6 |
| Apr ’24 | NOK 187.60 | NOK 225.98 +20.5% | 8.3% | NOK 255.94 | NOK 205.35 | NOK 118.20 | 5 |
| Mar ’24 | NOK 188.60 | NOK 194.52 +3.1% | 13.4% | NOK 230.04 | NOK 153.73 | NOK 106.30 | 6 |
| Feb ’24 | NOK 166.90 | NOK 173.09 +3.7% | 12.6% | NOK 201.17 | NOK 146.67 | NOK 101.70 | 6 |
| Jan ’24 | NOK 132.00 | NOK 163.04 +23.5% | 13.2% | NOK 198.48 | NOK 129.73 | NOK 132.20 | 6 |
| Dec ’23 | NOK 136.20 | NOK 173.78 +27.6% | 11.4% | NOK 209.65 | NOK 149.75 | NOK 135.10 | 6 |
| Nov ’23 | NOK 147.00 | NOK 173.78 +18.2% | 11.4% | NOK 209.65 | NOK 149.75 | NOK 154.30 | 6 |
| Oct ’23 | NOK 134.00 | NOK 170.77 +27.4% | 12.4% | NOK 201.20 | NOK 139.70 | NOK 146.60 | 6 |
Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.