TGS ASA (TGS.OL) Stock Fundamental Analysis

OSL:TGS • NO0003078800

115.4 NOK
+2.6 (+2.3%)
Last: Feb 25, 2026, 04:25 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

3

We assign a fundamental rating of 3 out of 10 to TGS. TGS was compared to 36 industry peers in the Energy Equipment & Services industry. Both the profitability and financial health of TGS have multiple concerns. TGS has a expensive valuation and it also scores bad on growth.


Dividend Valuation Growth Profitability Health

3

1. Profitability

1.1 Basic Checks

  • In the past year TGS was profitable.
  • TGS had a positive operating cash flow in the past year.
  • The reported net income has been mixed in the past 5 years: TGS reported negative net income in multiple years.
  • Of the past 5 years TGS 4 years had a positive operating cash flow.
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

  • TGS's Return On Assets of 1.29% is on the low side compared to the rest of the industry. TGS is outperformed by 77.78% of its industry peers.
  • TGS has a worse Return On Equity (2.48%) than 75.00% of its industry peers.
  • TGS has a Return On Invested Capital (6.91%) which is in line with its industry peers.
  • The Average Return On Invested Capital over the past 3 years for TGS 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

  • TGS has a worse Profit Margin (2.84%) than 69.44% of its industry peers.
  • TGS's Profit Margin has declined in the last couple of years.
  • The Operating Margin of TGS (14.42%) is comparable to the rest of the industry.
  • In the last couple of years the Operating Margin of TGS has declined.
  • TGS has a better Gross Margin (78.59%) 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

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ROAROEROICOperating and Profit MarginShow most profitable peers

3

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), TGS is destroying value.
  • There is no outstanding debt for TGS. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
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

  • Based on the Altman-Z score of 1.52, we must say that TGS is in the distress zone and has some risk of bankruptcy.
  • Looking at the Altman-Z score, with a value of 1.52, TGS is in the better half of the industry, outperforming 66.67% of the companies in the same industry.
  • 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 better Debt to Equity ratio (0.37) than 61.11% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.37
Debt/FCF 2.37
Altman-Z 1.52
ROIC/WACC0.82
WACC8.47%
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.
  • Looking at the Current ratio, with a value of 0.68, TGS is doing worse than 91.67% of the companies in the same industry.
  • A Quick Ratio of 0.68 indicates that TGS may have some problems paying its short term obligations.
  • The Quick ratio of TGS (0.68) is worse than 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

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

3

3. Growth

3.1 Past

  • TGS shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -84.62%.
  • TGS shows a very negative growth in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -55.54% yearly.
EPS 1Y (TTM)-84.62%
EPS 3Y-55.54%
EPS 5YN/A
EPS Q2Q%-84.21%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-44.52%

3.2 Future

  • TGS is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 219.79% yearly.
  • Based on estimates for the next years, TGS will show a small growth in Revenue. The Revenue will grow by 4.31% on average per year.
EPS Next Y562.81%
EPS Next 2Y219.79%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-3.23%
Revenue Next 2Y2.11%
Revenue Next 3Y4.31%
Revenue Next 5YN/A

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
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

3

4. Valuation

4.1 Price/Earnings Ratio

  • TGS is valuated quite expensively with a Price/Earnings ratio of 151.84.
  • 75.00% of the companies in the same industry are cheaper than TGS, based on the Price/Earnings ratio.
  • TGS's Price/Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 26.98.
  • The Price/Forward Earnings ratio is 22.77, 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 66.67% of the companies are valued more cheaply.
  • The average S&P500 Price/Forward Earnings ratio is at 28.01. TGS is around the same levels.
Industry RankSector Rank
PE 151.84
Fwd PE 22.77
TGS.OL Price Earnings VS Forward Price EarningsTGS.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 50 100 150

4.2 Price Multiples

  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of TGS indicates a somewhat cheap valuation: TGS is cheaper than 77.78% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 6.49
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 low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • A more expensive valuation may be justified as TGS's earnings are expected to grow with 219.79% in the coming years.
PEG (NY)0.27
PEG (5Y)N/A
EPS Next 2Y219.79%
EPS Next 3YN/A

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 5.41%, which is a nice return.
  • Compared to an average industry Dividend Yield of 3.18, TGS pays a bit more dividend than its industry peers.
  • TGS's Dividend Yield is rather good when compared to the S&P500 average which is at 1.81.
Industry RankSector Rank
Dividend Yield 5.41%

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

  • TGS pays out 239.94% of its income as dividend. This is not a sustainable payout ratio.
DP239.94%
EPS Next 2Y219.79%
EPS Next 3YN/A
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

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TGS ASA

OSL:TGS (2/25/2026, 4:25:30 PM)

115.4

+2.6 (+2.3%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryEnergy Equipment & Services
Earnings (Last)02-12
Earnings (Next)04-30
Inst Owners64.17%
Inst Owner ChangeN/A
Ins Owners0.05%
Ins Owner ChangeN/A
Market Cap22.69B
Revenue(TTM)N/A
Net Income(TTM)49.50M
Analysts49.23
Price Target103.46 (-10.35%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.41%
Yearly Dividend5.36
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%
PT rev (3m)0.71%
EPS NQ rev (1m)0.96%
EPS NQ rev (3m)16.67%
EPS NY rev (1m)0%
EPS NY rev (3m)-6.49%
Revenue NQ rev (1m)-0.37%
Revenue NQ rev (3m)-1.17%
Revenue NY rev (1m)-1.34%
Revenue NY rev (3m)-0.64%
Valuation
Industry RankSector Rank
PE 151.84
Fwd PE 22.77
P/S 1.36
P/FCF 6.49
P/OCF 2.75
P/B 1.19
P/tB 13.61
EV/EBITDA N/A
EPS(TTM)0.76
EY0.66%
EPS(NY)5.07
Fwd EY4.39%
FCF(TTM)17.78
FCFY15.41%
OCF(TTM)41.96
OCFY36.36%
SpS84.86
BVpS97.21
TBVpS8.48
PEG (NY)0.27
PEG (5Y)N/A
Graham Number40.77
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 1.52
F-Score6
WACC8.47%
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)-84.62%
EPS 3Y-55.54%
EPS 5YN/A
EPS Q2Q%-84.21%
EPS Next Y562.81%
EPS Next 2Y219.79%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-44.52%
Revenue Next Year-3.23%
Revenue Next 2Y2.11%
Revenue Next 3Y4.31%
Revenue Next 5YN/A
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 4 / 10 to TGS ASA (TGS.OL). This can be considered as Fairly Valued.


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 151.84 and the Price/Book (PB) ratio is 1.19.


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%.