Petrovietnam Gas JSC (GAS) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Petrovietnam Gas JSC stock VND 76,615, price VND 74,100, upside +3.4%, quality 62 out of 100. Rating: fairly valued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 8, 2026.
How to read this chart
60‑month range 50,800 VND – 128,700 VND · fair‑value band 46,956 VND – 121,528 VND · the 74,100 VND price screens below the 76,615 VND fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 8, 2026.
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Petrovietnam Gas Joint Stock Corporation, together with its subsidiaries, engages in the collection, transportation, processing, storage, distribution, importing, and trading of gas and gas related products in Vietnam.
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The company offers liquefied petroleum gas, dry gas, condensate, compressed natural gas, and liquefied natural gas; gas cylinders under PetroVietnam brand; and steel pipes products.
It also provides gas gathering, importation, and transportation and distribution, converting engines to run on gas, and maintenance and repair services for gas facility equipment; coating services for oil and gas pipelines; and steel pipe services comprising steel plates supply, welding, non-destructing testing, and chemical analysis and mechanical testing services, as well as engages in the construction and installation of equipment and other accessories.
In addition, the company is involved in wholesaling solid, liquid and gaseous fuel, and other products; construction activities, including investing, constructing, managing, maintaining, and repairing gas and gas related construction works and projects; real estate business; and investing activities.
It supplies its gas to power and fertilizer plants, industrial manufacturers, LPG trading and distributing companies, and transportation and processing industries, as well as to manufacturers of ceramic tiles, steel, and porcelain.
The company was formerly known as PetroVietnam Gas Corporation " One Member Company Limited and changed its name to Petrovietnam Gas Joint Stock Corporation in May 2011. The company was founded in 1990 and is headquartered in Ho Chi Minh City, Vietnam.
Petrovietnam Gas Joint Stock Corporation is a subsidiary of Vietnam Oil and Gas Group.
Stock analysis
Petrovietnam Gas JSC (GAS) currently trades at 74,100 VND, while our model-based Fair Value estimate is 76,615 VND, so the stock looks roughly fairly valued today (gap 3.3%).
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 101,514 VND per share, and 11 of the 26 models we run sit above the 74,100 VND price.
Bear case: the Asset-Based group reads lowest at 17,665 VND, and 15 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: 46,956 VND (bear) to 121,528 VND (bull), the price of 74,100 VND sits inside 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 62/100 (solid quality), in the Energy sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Petrovietnam Gas JSC reported revenue of 135T VND in FY2025 versus 79.0T VND in FY2021, a compound +14.4%/yr. Reported net income was 11.4T VND in FY2025, compounding +7.1%/yr from FY2021.
Key figures
Market cap 179T VND (≈ $7.0B) Mid · P/E ratio 14.1 · P/S ratio 1.11 · EPS (TTM) 5,254 VND · Dividend yield 2.7% · Net margin 7.9% · Return on equity 18.7% · Return on assets (EBIT) 15.6% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 61 out of 100 (low confidence).
What moves the price
The share trades about 42% below its 52-week high and 22% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Energy peers we cover trades at −15% fair-value upside, at 3%, GAS screens cheaper than that median.
Fair Value models
Bear46,956 VNDFair Value 76,615 VNDBull121,528 VND
Price 74,100 VND · Upside +3.4%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (4,506 VND per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.90/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+30.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+10.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+16.1%
Start year 2020 (pandemic)
Revenue growth 6 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+10.3%
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What shareholders gained per year (last 5 years), in VND ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in VND: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+3.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+0.9%
Dividend (yield on the price)2.7%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.14% → 10%
Growth Forecast
A lot of optimism in the price
The price assumes less growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+13.0%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+0.3%
Yearly sales growth analysts expect, extended to five years.
After inflation (Vietnam: IMF forecast 4.1% a year to 2030, 3.1% from 2016 to 2025) that is about +8.6% a year for the price and −3.7% for the forecasts.
AI conclusion: PV Gas benefits from rising Brent prices and higher LNG volumes that lifted third-quarter profits, yet its commodity oil and gas business shows no clear durable moats.
Main risk: Private and foreign LNG terminal projects could capture market share from PV Gas in imported gas supply and force lower margins on regasified volumes sold to power plants.
Bull case: PV Gas could leverage its existing pipeline monopoly and first-mover LNG terminals to partner with new entrants on shared infrastructure and secure long-term supply contracts that maintain volume growth.
Bear case: If new LNG competitors build terminals and EVN shifts purchases, PV Gas could see its role reduced to lower-margin transport services with declining domestic gas volumes limiting overall earnings.
PV Gas delivered sharply higher third-quarter profits as Brent prices rose and dry gas plus LNG volumes increased. The company is also expanding regasification capacity at Thi Vai while seeking fresh spot LNG cargoes. Will the push into LNG infrastructure and supply deals sustain earnings momentum or will pricing and demand trends limit further gains?
Price, fair value, quality and upside side by side.
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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
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score62 · Above median
Fair Value upside+3.4% · Above median
Profitability
Return on equity (12 months)18.7% · Above median
Return on assets12.2% · Top 25%
Net margin (12 months)7.9% · Below median
Operating margin (12 months)16.6% · Below median
Growth and dividend
Revenue growth (quarter YoY)43.8% · Top 25%
Dividend yield (12 months)2.7% · Bottom 25%
Balance sheet
Debt / equity0.02× · Lowest 25%
Valuation Multiplesvs Oil & Gas Integrated median · lower = cheaper
P/E (12 months)14.1× · Pricier than median
P/B2.70× · Priciest 25%
P/S (12 months)1.11× · Pricier than median
Price / free cash flow (fiscal year)16.7× · Cheaper than median
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Cite: Fair Value Calculator (2026). "Petrovietnam Gas JSC Fair Value". https://www.fairvalue-calculator.com/stock/GAS
Frequently asked questions
Is Petrovietnam Gas JSC (GAS) overvalued or undervalued?
As of Nov 8, 2026, our model estimates a fair value of 76,615 VND versus a price of 74,100 VND, about +3% upside (fairly valued).
What is the fair value of GAS?
Our model-based fair value for Petrovietnam Gas JSC is 76,615 VND (as of Nov 8, 2026), built from audited fundamentals. The current price: 74,100 VND.
What is the quality score of GAS?
Petrovietnam Gas JSC has a Quality Score of 62/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Petrovietnam Gas JSC (GAS)?
Our model-based price target is the fair value of 76,615 VND (as of Nov 8, 2026) from 26 valuation models. Cautious scenario 46,956 VND, optimistic scenario 121,528 VND. It is a calculation from audited fundamentals, not an analyst target.
What is the Petrovietnam Gas JSC stock forecast for 2026?
Our models put fair value at 76,615 VND, about +3% upside versus a price of 74,100 VND (fairly valued). Cautious scenario 46,956 VND, optimistic scenario 121,528 VND. The calculation is refreshed regularly with new filings.
What is the revenue of Petrovietnam Gas JSC (GAS)?
Petrovietnam Gas JSC reported trailing-twelve-month revenue of about 161T VND (latest available figure, as of Nov 8, 2026).
Does Petrovietnam Gas JSC pay a dividend?
Petrovietnam Gas JSC currently shows a dividend yield of 2.66% relative to its recent price (as of Nov 8, 2026).
How much is the dividend of Petrovietnam Gas JSC (GAS)?
Petrovietnam Gas JSC has a dividend yield of 2.7%.
What growth is priced into Petrovietnam Gas JSC (GAS)?
For today's price to be fair in a discounted-cash-flow model, Petrovietnam Gas JSC would have to grow free cash flow by +13.0 % per year for five years (discount rate 13.0 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +16.1 % per year. As of Nov 8, 2026.
What discount rate (WACC) does the fair value of GAS use?
Our models discount Petrovietnam Gas JSC at 13.0 %: a base by market capitalisation (mid), damped by beta 0.87, country premium for Vietnam. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Petrovietnam Gas JSC that is +13.0 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (13.0 %) and the same formula as our fair value.
How much growth has Petrovietnam Gas JSC (GAS) delivered so far?
Over the past 5 years revenue at Petrovietnam Gas JSC grew +16.1 % a year. The price currently implies free-cash-flow growth of +13.0 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Petrovietnam Gas JSC (GAS) growing?
The median revenue growth in the sector is +14.3 % a year. That is the yardstick for the growth priced into Petrovietnam Gas JSC (+13.0 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Petrovietnam Gas JSC (GAS)?
The free-cash-flow yield on the price is 6.00 %: that much free cash flow Petrovietnam Gas JSC produces per unit of market value. When it exceeds the discount rate of our models (13.0 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Petrovietnam Gas JSC (GAS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Petrovietnam Gas JSC it is 76,615 VND per share (as of Nov 8, 2026), against a price of 74,100 VND. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Petrovietnam Gas JSC stock overvalued or undervalued in 2026?
As of Nov 8, 2026, GAS trades below its calculated fair value: price 74,100 VND, fair value 76,615 VND, a gap of about +3% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of GAS?
No. The price is what the market pays today (74,100 VND); the fair value is what the company's own numbers justify (76,615 VND). For Petrovietnam Gas JSC the two are 2,515 VND per share apart. That gap is exactly why we show both numbers side by side.
How much is Petrovietnam Gas JSC worth?
The market values Petrovietnam Gas JSC at about 179T VND (market capitalisation, as of Nov 8, 2026). Per share that is 74,100 VND; our models calculate a fair value of 76,615 VND per share.
What do the bullish and bearish scenarios say about GAS?
Our models span a range for Petrovietnam Gas JSC: cautious scenario 46,956 VND, base 76,615 VND, optimistic 121,528 VND per share (as of Nov 8, 2026, price 74,100 VND). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of GAS?
Petrovietnam Gas JSC trades at a price-to-earnings ratio of 14.1 (as of Nov 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 76,615 VND is built from several models across several years. Other multiples: P/B 2.7, P/S 1.1, EV/EBITDA 10.0.
How solid is the balance sheet of Petrovietnam Gas JSC (GAS)?
Balance-sheet figures for Petrovietnam Gas JSC (as of Nov 8, 2026): return on equity 18.7%, debt of 0.02 per unit of equity. They feed the Quality Score of 62/100, which measures business quality independently of the share price.
How far is GAS from its 52-week high?
Petrovietnam Gas JSC trades at 74,100 VND, about 42% below its 52-week high of 128,700 VND and 22% above the low of 60,800 VND (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 76,615 VND is for.
Which stocks are comparable to Petrovietnam Gas JSC?
From the same area (Energy) we also value Saudi Arabian Oil Company, Exxon Mobil Corporation, Chevron Corporation, PetroChina Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Petrovietnam Gas JSC stock attractive at the current price?
The data as of Nov 8, 2026: price 74,100 VND, calculated fair value 76,615 VND (+3%), Quality Score 62/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of GAS calculated?
We run Petrovietnam Gas JSC through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 76,615 VND builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. Petrovietnam Gas JSC currently trades 3% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Petrovietnam Gas JSC (GAS)?
The closing price on Nov 6, 2026 was 74,100 VND. Our model-based fair value is 76,615 VND, about +3% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Petrovietnam Gas JSC right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (46,956 VND to 121,528 VND) leaves room in how you read the outcome.
Key figures of Petrovietnam Gas JSC
How large is the market capitalisation of Petrovietnam Gas JSC (GAS)?
The market capitalisation of Petrovietnam Gas JSC is 179T VND (≈ $7.0B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Petrovietnam Gas JSC (GAS)?
The price-to-sales ratio of Petrovietnam Gas JSC is 1.11 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Petrovietnam Gas JSC (GAS)?
Earnings per share at Petrovietnam Gas JSC are 5,254 VND (price ÷ EPS = P/E 14.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Petrovietnam Gas JSC (GAS)?
The dividend yield of Petrovietnam Gas JSC is 2.7% (payout 37.6%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Petrovietnam Gas JSC (GAS)?
The net margin of Petrovietnam Gas JSC is 7.9% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Petrovietnam Gas JSC (GAS)?
The return on equity (ROE) of Petrovietnam Gas JSC is 18.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Petrovietnam Gas JSC (GAS)?
On an EBIT basis the return on assets of Petrovietnam Gas JSC is 15.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Petrovietnam Gas JSC (GAS)?
The operating margin of Petrovietnam Gas JSC is 16.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Petrovietnam Gas JSC (GAS)?
Revenue at Petrovietnam Gas JSC is growing +43.8% versus a year earlier (3y avg +10.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Petrovietnam Gas JSC (GAS)?
Earnings per share at Petrovietnam Gas JSC are growing +24.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Petrovietnam Gas JSC (GAS) carry?
The net debt of Petrovietnam Gas JSC is 206B VND (fiscal year 2023, ≈ 0.0 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 8, 2026