Company Valuation: TGS ASA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,115 1,668 1,706 1,956 1,794 2,866 - -
Change - 49.61% 2.3% 14.68% -8.3% 59.77% - -
Enterprise Value (EV) 1 932.4 1,479 1,595 2,445 2,221 3,301 3,283 3,249
Change - 58.65% 7.8% 53.36% -9.17% 48.63% -0.55% -1.02%
P/E -20.9x 18.4x 76.7x 19.2x 101x 13.7x 12.2x 10.2x
PBR 1x 1.34x 1.34x 0.94x 0.91x 1.42x 1.39x 1.35x
PEG - -0x -1x 0x -1.2x 0x 1x 0.5x
Capitalization / Revenue 3.61x 2.33x 2.15x 1.48x 1.17x 1.92x 1.8x 1.72x
EV / Revenue 3.02x 2.06x 2.01x 1.86x 1.45x 2.21x 2.06x 1.95x
EV / EBITDA 4.76x 2.75x 4.15x 3.52x 2.48x 3.67x 3.26x 3.08x
EV / EBIT -5.77x 11.3x 29.9x 12.5x 12.2x 10.2x 9.28x 8.13x
EV / FCF 6.28x 21x 10.2x 10.7x 5.69x 13.5x 15x 12.7x
FCF Yield 15.9% 4.76% 9.83% 9.36% 17.6% 7.39% 6.65% 7.87%
Dividend per Share 2 0.56 0.56 0.56 0.56 0.62 0.6136 0.71 0.9067
Rate of return 5.83% 4.18% 4.3% 5.62% 6.79% 4.21% 4.87% 6.22%
EPS 2 -0.46 0.73 0.17 0.52 0.09 1.065 1.196 1.429
Distribution rate -122% 76.7% 329% 108% 689% 57.6% 59.3% 63.5%
Net sales 1 308.9 716.6 794.3 1,318 1,527 1,495 1,595 1,664
EBITDA 1 196 538.9 383.9 694.2 896.2 899.3 1,008 1,057
EBIT 1 -161.6 130.7 53.3 195.5 182.4 323.3 353.6 399.5
Net income 1 -54.11 86.67 21.65 94.22 18.3 218.4 238.8 292.3
Net Debt 1 -182.3 -188.5 -111.5 488.9 427 434.6 416.5 383
Reference price 2 9.60 13.40 13.04 9.97 9.13 14.59 14.59 14.59
Nbr of stocks (in thousands) 116,107 124,469 130,862 196,213 196,459 196,503 - -
Announcement Date 2/10/22 2/9/23 2/15/24 2/20/25 2/12/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
14.59x1.34x5.69x6.49% 10.83B
17.29x0.24x3.36x3.07% 6.24B
40.09x1.15x9.21x1.6% 3.59B
13.69x2.21x3.67x4.21% 2.87B
39.36x1.81x8.28x1.39% 2.69B
7.02x0.42x4.71x17.71% 2.23B
17.51x1.37x3.46x2.18% 1.04B
5.58x0.91x1.47x5.2% 872M
Average 19.39x 1.18x 4.98x 5.23% 3.79B
Weighted average by Cap. 19.56x 1.14x 5.40x 5.18%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield