TGS ASA (TGS.OL) Stock Fundamental Analysis

Europe • Euronext Oslo • OSL:TGS • NO0003078800

99.05 NOK
-0.5 (-0.5%)
Last: Feb 5, 2026, 04:19 PM
Fundamental Rating

3

TGS gets a fundamental rating of 3 out of 10. The analysis compared the fundamentals against 36 industry peers in the Energy Equipment & Services industry. TGS may be in some trouble as it scores bad on both profitability and health. While showing a medium growth rate, TGS is valued expensive at the moment.


Dividend Valuation Growth Profitability Health

3

1. Profitability

1.1 Basic Checks

  • In the past year TGS was profitable.
  • In the past year TGS had a positive cash flow from operations.
  • The reported net income has been mixed in the past 5 years: TGS reported negative net income in multiple years.
  • In the past 5 years TGS always reported a positive cash flow from operatings.
TGS.OL Yearly Net Income VS EBIT VS OCF VS FCFTGS.OL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M 400M 600M

1.2 Ratios

  • With a Return On Assets value of 1.29%, TGS is not doing good in the industry: 77.78% of the companies in the same industry are doing better.
  • The Return On Equity of TGS (2.48%) is worse than 75.00% of its industry peers.
  • The Return On Invested Capital of TGS (6.91%) is comparable to the rest of the industry.
  • TGS had an Average Return On Invested Capital over the past 3 years of 5.85%. This is below the industry average of 10.18%.
  • The 3 year average ROIC (5.85%) for TGS is below the current ROIC(6.91%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 1.29%
ROE 2.48%
ROIC 6.91%
ROA(3y)2.74%
ROA(5y)-0.96%
ROE(3y)4.45%
ROE(5y)-1.33%
ROIC(3y)5.85%
ROIC(5y)N/A
TGS.OL Yearly ROA, ROE, ROICTGS.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 -5 10 -10 15

1.3 Margins

  • Looking at the Profit Margin, with a value of 2.84%, TGS is doing worse than 69.44% of the companies in the same industry.
  • In the last couple of years the Profit Margin of TGS has declined.
  • TGS's Operating Margin of 14.42% is in line compared to the rest of the industry. TGS outperforms 58.33% of its industry peers.
  • TGS's Operating Margin has declined in the last couple of years.
  • The Gross Margin of TGS (78.59%) is better than 91.67% of its industry peers.
  • In the last couple of years the Gross Margin of TGS has declined.
Industry RankSector Rank
OM 14.42%
PM (TTM) 2.84%
GM 78.59%
OM growth 3Y-27.75%
OM growth 5Y-12.35%
PM growth 3YN/A
PM growth 5Y-18.03%
GM growth 3Y-8.24%
GM growth 5Y-5.38%
TGS.OL Yearly Profit, Operating, Gross MarginsTGS.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50

More info and screens

ROAROEROICOperating and Profit MarginShow most profitable peers

3

2. Health

2.1 Basic Checks

  • TGS has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • TGS has more shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, TGS has more shares outstanding
  • The debt/assets ratio for TGS is higher compared to a year ago.
TGS.OL Yearly Shares OutstandingTGS.OL Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M
TGS.OL Yearly Total Debt VS Total AssetsTGS.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B

2.2 Solvency

  • TGS has an Altman-Z score of 1.43. This is a bad value and indicates that TGS is not financially healthy and even has some risk of bankruptcy.
  • The Altman-Z score of TGS (1.43) is better than 63.89% of its industry peers.
  • The Debt to FCF ratio of TGS is 2.37, which is a good value as it means it would take TGS, 2.37 years of fcf income to pay off all of its debts.
  • The Debt to FCF ratio of TGS (2.37) is better than 75.00% of its industry peers.
  • A Debt/Equity ratio of 0.37 indicates that TGS is not too dependend on debt financing.
  • TGS has a Debt to Equity ratio of 0.37. This is in the better half of the industry: TGS outperforms 61.11% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.37
Debt/FCF 2.37
Altman-Z 1.43
ROIC/WACC0.82
WACC8.46%
TGS.OL Yearly LT Debt VS Equity VS FCFTGS.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 500M 1B 1.5B 2B

2.3 Liquidity

  • TGS has a Current Ratio of 0.68. This is a bad value and indicates that TGS is not financially healthy enough and could expect problems in meeting its short term obligations.
  • With a Current ratio value of 0.68, TGS is not doing good in the industry: 91.67% of the companies in the same industry are doing better.
  • TGS has a Quick Ratio of 0.68. This is a bad value and indicates that TGS is not financially healthy enough and could expect problems in meeting its short term obligations.
  • TGS's Quick ratio of 0.68 is on the low side compared to the rest of the industry. TGS is outperformed by 91.67% of its industry peers.
Industry RankSector Rank
Current Ratio 0.68
Quick Ratio 0.68
TGS.OL Yearly Current Assets VS Current LiabilitesTGS.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

More info and screens

WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. Growth

3.1 Past

  • TGS shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -11.11%.
  • The earnings per share for TGS have been decreasing by -22.33% on average. This is quite bad
  • TGS shows a strong growth in Revenue. In the last year, the Revenue has grown by 71.64%.
  • Measured over the past years, TGS shows a quite strong growth in Revenue. The Revenue has been growing by 17.62% on average per year.
EPS 1Y (TTM)-11.11%
EPS 3YN/A
EPS 5Y-22.33%
EPS Q2Q%63.16%
Revenue 1Y (TTM)71.64%
Revenue growth 3Y36.47%
Revenue growth 5Y17.62%
Sales Q2Q%-5.92%

3.2 Future

  • TGS is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 16.31% yearly.
  • TGS is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -0.27% yearly.
EPS Next Y-53.38%
EPS Next 2Y0.98%
EPS Next 3Y16.31%
EPS Next 5YN/A
Revenue Next Year-1.01%
Revenue Next 2Y-3.27%
Revenue Next 3Y0.5%
Revenue Next 5Y-0.27%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
TGS.OL Yearly Revenue VS EstimatesTGS.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 500M 1B 1.5B
TGS.OL Yearly EPS VS EstimatesTGS.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 1 -1

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Find the best growth stocksShow best growing peers

2

4. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 42.88, the valuation of TGS can be described as expensive.
  • 72.22% of the companies in the same industry are cheaper than TGS, based on the Price/Earnings ratio.
  • The average S&P500 Price/Earnings ratio is at 28.25. TGS is valued rather expensively when compared to this.
  • The Price/Forward Earnings ratio is 19.37, which indicates a rather expensive current valuation of TGS.
  • Based on the Price/Forward Earnings ratio, TGS is valued a bit more expensive than the industry average as 69.44% of the companies are valued more cheaply.
  • When comparing the Price/Forward Earnings ratio of TGS to the average of the S&P500 Index (27.50), we can say TGS is valued slightly cheaper.
Industry RankSector Rank
PE 42.88
Fwd PE 19.37
TGS.OL Price Earnings VS Forward Price EarningsTGS.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of TGS indicates a rather cheap valuation: TGS is cheaper than 80.56% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 5.52
EV/EBITDA N/A
TGS.OL Per share dataTGS.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60 80

4.3 Compensation for Growth

  • TGS's earnings are expected to grow with 16.31% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y0.98%
EPS Next 3Y16.31%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

4

5. Dividend

5.1 Amount

  • TGS has a Yearly Dividend Yield of 6.30%, which is a nice return.
  • TGS's Dividend Yield is a higher than the industry average which is at 3.48.
  • TGS's Dividend Yield is rather good when compared to the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 6.3%

5.2 History

  • The dividend of TGS decreases each year by -11.71%.
Dividend Growth(5Y)-11.71%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

  • 239.94% of the earnings are spent on dividend by TGS. This is not a sustainable payout ratio.
DP239.94%
EPS Next 2Y0.98%
EPS Next 3Y16.31%
TGS.OL Yearly Income VS Free CF VS DividendTGS.OL Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100M -100M 200M
TGS.OL Dividend Payout.TGS.OL Dividend Payout, showing the Payout Ratio.TGS.OL Dividend Payout.PayoutRetained Earnings

More info and screens

Find the best dividend stocksShow peers with best dividend

TGS ASA

OSL:TGS (2/5/2026, 4:19:54 PM)

99.05

-0.5 (-0.5%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryEnergy Equipment & Services
Earnings (Last)10-23
Earnings (Next)02-12
Inst Owners64.17%
Inst Owner ChangeN/A
Ins Owners0.05%
Ins Owner ChangeN/A
Market Cap19.47B
Revenue(TTM)1.75B
Net Income(TTM)49.50M
Analysts49.23
Price Target103.46 (4.45%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 6.3%
Yearly Dividend5.35
Dividend Growth(5Y)-11.71%
DP239.94%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-92.38%
Min EPS beat(2)-286.02%
Max EPS beat(2)101.27%
EPS beat(4)1
Avg EPS beat(4)-77.25%
Min EPS beat(4)-286.02%
Max EPS beat(4)101.27%
EPS beat(8)2
Avg EPS beat(8)-184.52%
EPS beat(12)3
Avg EPS beat(12)-141.9%
EPS beat(16)4
Avg EPS beat(16)-125.7%
Revenue beat(2)1
Avg Revenue beat(2)-5.34%
Min Revenue beat(2)-19.07%
Max Revenue beat(2)8.4%
Revenue beat(4)3
Avg Revenue beat(4)2.67%
Min Revenue beat(4)-19.07%
Max Revenue beat(4)17.79%
Revenue beat(8)4
Avg Revenue beat(8)0.82%
Revenue beat(12)4
Avg Revenue beat(12)-4.68%
Revenue beat(16)7
Avg Revenue beat(16)1.47%
PT rev (1m)0.71%
PT rev (3m)0.71%
EPS NQ rev (1m)6.12%
EPS NQ rev (3m)13.04%
EPS NY rev (1m)9.09%
EPS NY rev (3m)166.67%
Revenue NQ rev (1m)-0.36%
Revenue NQ rev (3m)-0.81%
Revenue NY rev (1m)0%
Revenue NY rev (3m)1.75%
Valuation
Industry RankSector Rank
PE 42.88
Fwd PE 19.37
P/S 1.16
P/FCF 5.52
P/OCF 2.34
P/B 1.01
P/tB 11.58
EV/EBITDA N/A
EPS(TTM)2.31
EY2.33%
EPS(NY)5.11
Fwd EY5.16%
FCF(TTM)17.94
FCFY18.11%
OCF(TTM)42.34
OCFY42.74%
SpS85.62
BVpS98.08
TBVpS8.56
PEG (NY)N/A
PEG (5Y)N/A
Graham Number71.4
Profitability
Industry RankSector Rank
ROA 1.29%
ROE 2.48%
ROCE 8.97%
ROIC 6.91%
ROICexc 7.47%
ROICexgc 25.25%
OM 14.42%
PM (TTM) 2.84%
GM 78.59%
FCFM 20.95%
ROA(3y)2.74%
ROA(5y)-0.96%
ROE(3y)4.45%
ROE(5y)-1.33%
ROIC(3y)5.85%
ROIC(5y)N/A
ROICexc(3y)6.57%
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)7.72%
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3Y-35.15%
ROICexc growth 5Y-15.78%
OM growth 3Y-27.75%
OM growth 5Y-12.35%
PM growth 3YN/A
PM growth 5Y-18.03%
GM growth 3Y-8.24%
GM growth 5Y-5.38%
F-Score6
Asset Turnover0.45
Health
Industry RankSector Rank
Debt/Equity 0.37
Debt/FCF 2.37
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales 28.5%
Interest Coverage 250
Cash Conversion N/A
Profit Quality 738.73%
Current Ratio 0.68
Quick Ratio 0.68
Altman-Z 1.43
F-Score6
WACC8.46%
ROIC/WACC0.82
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)39.85%
Cap/Sales(5y)52.79%
Profit Quality(3y)338.92%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-11.11%
EPS 3YN/A
EPS 5Y-22.33%
EPS Q2Q%63.16%
EPS Next Y-53.38%
EPS Next 2Y0.98%
EPS Next 3Y16.31%
EPS Next 5YN/A
Revenue 1Y (TTM)71.64%
Revenue growth 3Y36.47%
Revenue growth 5Y17.62%
Sales Q2Q%-5.92%
Revenue Next Year-1.01%
Revenue Next 2Y-3.27%
Revenue Next 3Y0.5%
Revenue Next 5Y-0.27%
EBIT growth 1Y112.02%
EBIT growth 3Y-1.41%
EBIT growth 5Y3.1%
EBIT Next Year255.46%
EBIT Next 3Y53.73%
EBIT Next 5Y38%
FCF growth 1Y153.59%
FCF growth 3Y13.38%
FCF growth 5Y-1.21%
OCF growth 1Y55.12%
OCF growth 3Y25.56%
OCF growth 5Y2.32%

TGS ASA / TGS.OL FAQ

What is the fundamental rating for TGS stock?

ChartMill assigns a fundamental rating of 3 / 10 to TGS.OL.


What is the valuation status of TGS ASA (TGS.OL) stock?

ChartMill assigns a valuation rating of 2 / 10 to TGS ASA (TGS.OL). This can be considered as Overvalued.


Can you provide the profitability details for TGS ASA?

TGS ASA (TGS.OL) has a profitability rating of 3 / 10.


What is the valuation of TGS ASA based on its PE and PB ratios?

The Price/Earnings (PE) ratio for TGS ASA (TGS.OL) is 42.88 and the Price/Book (PB) ratio is 1.01.


Can you provide the dividend sustainability for TGS stock?

The dividend rating of TGS ASA (TGS.OL) is 4 / 10 and the dividend payout ratio is 239.94%.