Oil & Natural Gas Corporation Limited (ONGC) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Oil & Natural Gas Corporation Limited stock ₹393, price ₹230, upside +70.7%, quality 59 out of 100. Rating: strongly undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Keep an eye on it?Free in your watchlist: 5 stocks without an account, 10 with one Yes, for free
Oil & Natural Gas Corporation Limited
ONGC · NSEThe stock costs 41% less than our calculation considers fair.
Risks from the AI analysis
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 5, 2026.
How to read this chart
60‑month range ₹80.16 – ₹306.57 · fair‑value band ₹274.86 – ₹510.46 · the ₹230.00 price screens below the ₹392.66 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
Every Wednesday you see whether Oil & Natural Gas Corporation is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
Company profile
Oil and Natural Gas Corporation Limited, together with its subsidiaries, engages in the exploration, development, production, and distribution of crude oil, natural gas, and value-added products in India and internationally.
Show moreShow less
It operates through Exploration and Production, Refining & Marketing, and Petrochemicals segments.
The company engages in the refining and marketing of petroleum products; liquefied natural gas supply; pipelines for transportation of petroleum products; SEZ development; helicopter services; and production of ethanol, sugar, petrochemicals, liquefied petroleum gas, naphtha, ethane, propane, butane, kerosene oil, low sulphur heavy stock, residual crude oil, mineral turpentine oil, aviation turbine fuel, and high speed diesel.
It also generates wind power through a total installed capacity of 153.9 MW; and solar power through a total installed capacity of 39.96 MW. The company also exports its products. Oil and Natural Gas Corporation Limited was founded in 1955 and is based in New Delhi, India.
Stock analysis
Oil & Natural Gas Corporation Limited (ONGC) currently trades at ₹230.00, while our model-based Fair Value estimate is ₹392.66, implying the stock looks roughly 41% undervalued today.
Show more
Valuation
Bull case: the Growth DCF group reads highest at a median of ₹854.35 per share, and 23 of the 26 models we run sit above the ₹230.00 price.
Bear case: the Asset-Based group reads lowest at ₹175.98, and 3 of the 26 models stay below the price. Data coverage for this calculation is medium.
Scenario range: ₹274.86 (bear) to ₹510.46 (bull), the price of ₹230.00 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 59/100 (solid quality), in the Energy sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Oil & Natural Gas Corporation Limited reported revenue of ₹6.6T in FY2026 versus ₹4.9T in FY2022, a compound +7.8%/yr. Reported net income was ₹414B in FY2026, compounding −2.3%/yr from FY2022.
Key figures
Market cap ₹2.9T (≈ $30.6B) Large · P/E ratio 6.6 · P/S ratio 0.41 · EPS (TTM) ₹34.60 · Dividend yield 5.9% · Net margin 6.2% · Return on equity 12.7% · Return on assets (EBIT) 15.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 23% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Energy peers we cover trades at −20% fair-value upside, at 71%, ONGC screens cheaper than that median.
Fair Value models
All 26 models by family
The fair value above starts from this blend and is adjusted for a cyclical peak year.
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Revenue & earnings trend
Growth Forecast
Watch ONGC, get fair value alerts →
Earlier news
- ONGC outlines $10.5bn plan for deepwater exploration in India
- Firms including Chevron, ONGC, GE Vernova on track to sign final pacts in Venezuela, sources say
- India’s ONGC Targets Tenfold Oil Output Boost in Venezuela
Compare Oil & Natural Gas Corporation Limited with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Oil & Gas Integrated · 43 stocks
Valuation Multiplesvs Oil & Gas Integrated median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Energy sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- EBIT margin by industry
- P/S ratio by industry
- Piotroski F-Score screener with fair value
- Undervalued stocks: Energy
- Undervalued stocks: Indian Stocks
- Valuation of the India market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Oil & Gas Integrated stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| PetroChina Company 601857 | ¥12.54 | ¥13.96 | +11% | vs ONGC |
| China Petroleum & Chemical Corporation 600028 | ¥5.70 | ¥5.60 | −2% | vs ONGC |
| TotalEnergies SE TTE | €80.70 | €73.68 | −9% | vs ONGC |
| Equinor ASA EQNR | kr 405.40 | kr 336.81 | −17% | vs ONGC |
| Petróleo Brasileiro S.A PBR | $19.61 | $15.70 | −20% | vs ONGC |
| Saudi Arabian Oil Company 2222 | 26.16 SAR | 19.04 SAR | −27% | vs ONGC |
| Suncor Energy Inc SU | $72.04 | $50.69 | −30% | vs ONGC |
| Imperial Oil Limited IMO | $127.47 | $69.36 | −46% | vs ONGC |
| Exxon Mobil Corporation XOM | $169.27 | $90.40 | −47% | vs ONGC |
| Chevron Corporation CVX | $216.96 | $92.05 | −58% | vs ONGC |
Explore undervalued stocks
More undervalued Energy stocks →
Try a ready-made strategy
Pick a strategy and jump into the live analysis with that exact screen applied.
Discover tools
Frequently asked questions
Is Oil & Natural Gas Corporation Limited (ONGC) overvalued or undervalued?
What is the fair value of ONGC?
What is the quality score of ONGC?
What is the price target for Oil & Natural Gas Corporation Limited (ONGC)?
What is the Oil & Natural Gas Corporation Limited stock forecast for 2026?
What is the revenue of Oil & Natural Gas Corporation Limited (ONGC)?
Does Oil & Natural Gas Corporation Limited pay a dividend?
What growth is priced into Oil & Natural Gas Corporation Limited (ONGC)?
What discount rate (WACC) does the fair value of ONGC use?
What is a reverse DCF?
How much growth has Oil & Natural Gas Corporation Limited (ONGC) delivered so far?
How fast is the sector of Oil & Natural Gas Corporation Limited (ONGC) growing?
What is the free cash flow yield of Oil & Natural Gas Corporation Limited (ONGC)?
What is the intrinsic value of Oil & Natural Gas Corporation Limited (ONGC)?
Is Oil & Natural Gas Corporation Limited stock overvalued or undervalued in 2026?
Is fair value the same as the market price of ONGC?
How much is Oil & Natural Gas Corporation Limited worth?
What do the bullish and bearish scenarios say about ONGC?
What is the P/E ratio of ONGC?
How solid is the balance sheet of Oil & Natural Gas Corporation Limited (ONGC)?
How far is ONGC from its 52-week high?
Which stocks are comparable to Oil & Natural Gas Corporation Limited?
Is Oil & Natural Gas Corporation Limited stock attractive at the current price?
How is the fair value of ONGC calculated?
Is it still worth investing in stocks now?
What is the share price of Oil & Natural Gas Corporation Limited (ONGC)?
What should I pay attention to with Oil & Natural Gas Corporation Limited right now?
Where does the earnings growth of Oil & Natural Gas Corporation Limited (ONGC) come from?
Key figures of Oil & Natural Gas Corporation Limited
How large is the market capitalisation of Oil & Natural Gas Corporation Limited (ONGC)?
What is the P/S ratio of Oil & Natural Gas Corporation Limited (ONGC)?
What are the earnings per share of Oil & Natural Gas Corporation Limited (ONGC)?
What is the dividend yield of Oil & Natural Gas Corporation Limited (ONGC)?
What is the net margin of Oil & Natural Gas Corporation Limited (ONGC)?
What is the return on equity of Oil & Natural Gas Corporation Limited (ONGC)?
What is the EBIT return on assets of Oil & Natural Gas Corporation Limited (ONGC)?
What is the operating margin of Oil & Natural Gas Corporation Limited (ONGC)?
How fast is revenue growing at Oil & Natural Gas Corporation Limited (ONGC)?
How fast are earnings growing at Oil & Natural Gas Corporation Limited (ONGC)?
How much net debt does Oil & Natural Gas Corporation Limited (ONGC) carry?
Watch Oil & Natural Gas Corporation Limited in the live analysis
One click puts Oil & Natural Gas Corporation Limited on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 27,000+ stock screener.
Watch for free →Zero risk: nothing is ever charged. Your watchlist is yours, with or without an account.