TGS stock
TGS.OLOSLTGS ASA, EnergyISIN NO0003078800
58Score 58 out of 100, Neutral
Price and trend
69 / 100
Price history
+43% in one yearThe chart shows daily closes over 20 years, adjusted for stock splits and without dividends. Click into the chart to set a price alert at that price.
Above the 200-day line: the price is 4.0% above it.
Since December 2025 the 50-day line has been above the 200-day line; the trend has turned up.
Normal: the price is neither overheated nor sold off (RSI 52).
The price is 13% below its 52-week high. Largest decline in 20 years: 80% (April 2007 to November 2008).
Chart figures for advanced users
- SMA 50$14.53
- Average price of the last 50 trading days, shows the short-term trend.
- SMA 200$13.95
- Average price of the last 200 trading days, shows the long-term trend.
- RSI (14)52
- Relative strength over the last 14 days on a scale from 0 to 100. Above 70 the price counts as overheated, below 30 as sharply fallen.
- MACDabove the signal line
- Compares a fast and a slow price average. Above its signal line momentum is rising, below it momentum is fading.
- Support$8.92
- The lowest closing price of the last twelve months.
- Resistance$16.68
- The highest closing price of the last twelve months.
Snapshot
Computed from the data by fixed rules, no AI
- TGS ASA belongs to the Oil & Gas Equipment & Services industry (Norway) and, with a market value of $2.85B, is number 23 of 52 companies in its industry on MEQIRI.
- In fiscal 2025 it reported revenue of $1.53B (up 15.8% year on year) and earnings of $18.3M (down 80.6%).
- MEQIRI Score 58 out of 100 (Neutral): rank 146 of 266 in Energy, median 60.
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- The P/E is 32.9 (Oil & Gas Equipment & Services median 24.8, own median of recent years 30.5).
- Our model puts fair value at $51.67, with the price 72% below it.
In plain words
The numbers on this page in plain words, written by an AI
Strengths
- Growing faster than its industryRevenue up 36.7% a year since 2020, Oil & Gas Equipment & Services median 11%.Growth 70
- Earnings turn into cashFree cash flow 360% of earnings over the last 12 months.Fundamentals 70
- Below fair valuePrice 72% below the fair value of $51.67.Valuation 81
Weaknesses
- DilutionShare count up 74% since 2020.Capital allocation 27
- Interest barely coveredOperating profit covers interest only 2.1 times.Stability 48
Its standout strengths are valuation and fundamentals, while profitability and capital allocation hold the score back.
Daily figure as of 13 Nov 2026
How the score is calculatedScore overview
Fundamentals are strong, with stable profits and strong cash generation.
Score history
The full history of up to 20 years comes with MEQIRI Pro.
See plansCrash risk medium
How well MEQIRI warnsIn the middle among smaller stocks.
From 2016 to 2025, 20 in 100 such stocks fell 30% or more within a year, against a group average of 23 in 100.
What drives the risk
- cyclical sector (energy or materials), as a group, crashed more often in the backtest
Valuation
Valuation signal
Significantly undervaluedIn our model the price counts as cheap below $36.91 and expensive above $86.12 (uncertainty high, one part of the fair value is more than twice the other).
The two parts of the fair value come to $92.38 (cash-flow model) and $10.96 (industry comparison), and the gap between them shows how uncertain the estimate is.
Calculated with a cost of equity of 8.8%. At 9.8% the fair value would be $43.52, at 7.8% it would be $63.93.
Valuation metrics
Half from the cash-flow model, half from earnings times the industry P/E (24.8).
Calculate with your own assumptionsCompany performance
This shows several years of history with an automatic assessment.
Revenue
In the twelve months to 30 Sep 2026, revenue fell 22.2% on the twelve months before. Revenue has grown solidly since 2006, at about 7% per year.
Margins
- Gross margin
- Operating margin
- Net margin
In fiscal 2025: gross 36%, operating 12%, net 1%. Last 12 months: net 6%.
Debt & balance sheet
latest quarterDebt is moderate, but interest coverage is weak. Keep an eye on the interest burden and refinancing.
Earnings
- Next earnings
- 11 Feb 2027in 90 days
- Last reported
- 22 Oct 2026EPS reported 0.28 (expected 1.37)below expectations
Analyst estimates
Analysts have cut their 2026 earnings estimate by 23.1% since 15 Oct 2026. Falling estimates often precede bad news.
- Earnings per share
- 0.83−23.1%
- Revenue
- $1.5B+0.6%
- Earnings per share
- 1.27+2.2%
- Revenue
- $1.61B+0.5%
MEQIRI has stored the estimates since 15 Oct 2026. Until 30 days are available, the card shows the change since that day. Mean estimate according to Financial Modeling Prep. No price target and no recommendation.
Company outlook confirmed
Share price after the results: −9.7%Multi client investments of $550 million guided for 2026, operating expenses will be somewhat above the original $950 million guidance, and continued imaging activity growth is expected.
“But it means that in total for the year, the gross operating expenses will be somewhat higher than the original full year guidance of $950 million.”The outlook is not part of the score and not a recommendation to buy or sell.
From the earnings call on 23 Jul 2026 (fiscal Q2 2026), read by AI.
What happened at TGS
The key events of the last six months from our own data. A click takes you to the matching card.
Sector comparison
266 rated companies in Energy
- This company
- 58
- Sector median
- 60
Categories against the sector median
The median is the middle value: half of the companies in the sector lie above it, half below. Categories with too few comparable companies are left out.
Competitors in Oil & Gas Equipment & Services
The next larger and next smaller companies by market value
- CactusWHD $4.34B72
- TidewaterTDW $3.87B64
- Oceaneering InternationalOII $3.46B66
- DOF GroupDOFG.OL $3.32B51
- EnerflexEFXT $2.48B54
- EagleRock LandEROK $2.27B50
- Select Water SolutionsWTTR $2.23B43
- National Energy Services ReunitedNESR $2.17B60
ETFs that hold TGS
Held by 25 ETFs on Xetra. Shown per index: the ETF with the largest weight.
| ETF | Weight | Cost | Fund size |
|---|---|---|---|
| Amundi STOXX Europe 600 Energy ESG ScreenedLOGS | 0.62% | 0.30% | €266.34M |
| Amundi MSCI Europe Small Cap ESG Broad Transition UCITS ETF DistX026 | 0.44% | 0.23% | €321.86M |
| iShares STOXX Europe Small 200 UCITS ETF (DE)EXSE | 0.34% | 0.20% | €632.25M |
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| Ossiam Europe ESG Machine LearningOSX4 | 0.28% | 0.65% | €68.34M |
| iShares STOXX Europe 600 Oil & Gas UCITS ETF (DE)EXH1 | 0.28% | 0.47% | €639.45M |
| WisdomTree Europe Equity Income UCITS ETFWTEE | 0.24% | 0.29% | €241.09M |
| Ossiam STOXX Europe 600 Equal Weight NR UCITS ETFOSX6 | 0.19% | 0.30% | €216.61M |
| Xtrackers MSCI Europe Small Cap UCITS ETF 1CXXSC | 0.19% | 0.30% | €3.45B |
Holdings as reported by the funds via FMP, excluding swap ETFs (their holdings are only collateral).
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 12 Nov 2026 ($1 = NOK 9.5325)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Neutral, published since 7 Nov 2026 (in the score history since 2 Jan 2026)
- Valuation signal Undervalued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.