Transportadora de Gas del Norte SA Class C (TGNO4) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Transportadora de Gas del Norte SA Class C stock ARS 2,648, price ARS 2,585, upside +2.4%, quality 75 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 5, 2026.
How to read this chart
60‑month range 51.30 ARS – 5,030 ARS · fair‑value band 1,829 ARS – 3,921 ARS · the 2,585 ARS price screens below the 2,648 ARS fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 5, 2026.
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Transportadora de Gas del Norte S.A. engages in the natural gas transportation in the north and central west regions of Argentina. The company operates and maintains approximately 11,222 km of both own and third party pipelines.
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It also provides operation, maintenance, integrity, pipeline connection and hot taps, engineering, pipeline works management, consulting, training, SCADA and communications, community, damage prevention, and special projects services to third-party pipelines in Argentina, Chile, Mexico, Peru, and Uruguay.
Transportadora de Gas del Norte S.A. was incorporated in 1992 and is based in Buenos Aires, Argentina. The company operates as a subsidiary of Gasinvest S.A.
Stock analysis
Transportadora de Gas del Norte SA Class C (TGNO4) currently trades at 2,585 ARS, while our model-based Fair Value estimate is 2,648 ARS, so the stock looks roughly fairly valued today (gap 2.4%).
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Valuation
Bull case: the Growth Earnings group reads highest at a median of 20,449 ARS per share, and 22 of the 26 models we run sit above the 2,585 ARS price.
Bear case: the Asset-Based group reads lowest at 489.44 ARS, and 4 of the 26 models stay below the price. Data coverage for this calculation is medium.
Scenario range: 1,829 ARS (bear) to 3,921 ARS (bull), the price of 2,585 ARS 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 75/100 (high quality), in the Energy sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Transportadora de Gas del Norte SA Class C reported revenue of 601B ARS in FY2025 versus 20.0B ARS in FY2021, a compound +134.0%/yr. Reported net income was 219B ARS in FY2025.
Key figures
Market cap 1.1T ARS (≈ $735M) Small · P/E ratio 5.4 · P/S ratio 1.89 · EPS (TTM) 498.50 ARS · Net margin 32.4% · Return on equity 18.0% · Return on assets (EBIT) 3.1% (5-year average) · Operating margin 43.7%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 82 out of 100 (medium confidence).
What moves the price
The share trades about 49% below its 52-week high and at its 52-week low, currently below its 200-day average.
For context, the median of 10 Energy peers we cover trades at −30% fair-value upside, at 2%, TGNO4 screens cheaper than that median.
Fair Value models
Bear1,829 ARSFair Value 2,648 ARSBull3,921 ARS
Price 2,585 ARS · Upside +2.4%
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 (427.48 ARS 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.
Best data coverage
FCF DCF6,010 ARS7,566 ARS11,946 ARS78
Growth DCF5,684 ARS7,812 ARS11,202 ARS76
EPV2,723 ARS2,932 ARS3,091 ARS74
All 26 models by family
DCF Models
FCF DCF6,010 ARS7,566 ARS11,946 ARS78
Owner Earnings5,462 ARS9,140 ARS14,647 ARS72
5Y Revenue Exit3,549 ARS4,627 ARS6,772 ARS71
5Y EBITDA Exit4,642 ARS6,825 ARS11,052 ARS72
5Y P/E Exit5,493 ARS10,429 ARS16,861 ARS66
10Y Revenue Exit4,690 ARS7,032 ARS7,723 ARS66
10Y EBITDA Exit5,225 ARS8,528 ARS13,494 ARS65
10Y P/E Exit5,624 ARS9,692 ARS15,787 ARS60
Earnings-Based
Graham-Dodd3,390 ARS23,641 ARS33,177 ARS61
Lynch FV12,214 ARS17,448 ARS22,683 ARS59
PEG = 1.012,214 ARS17,448 ARS22,683 ARS55
EPV2,723 ARS2,932 ARS3,091 ARS74
Dividend Discount
Gordon GGM3,067 ARS4,305 ARS4,980 ARS67
DDM Multi-Stage3,067 ARS4,414 ARS4,676 ARS65
Multiples
P/E Multiple5,234 ARS6,979 ARS8,724 ARS63
P/S Multiple1,230 ARS1,640 ARS2,050 ARS58
P/B Multiple2,181 ARS2,907 ARS3,634 ARS55
EV/EBIT4,439 ARS5,982 ARS7,525 ARS66
EV/EBITDA3,290 ARS4,450 ARS5,611 ARS67
EV/Revenue956.40 ARS1,449 ARS1,941 ARS53
Asset-Based
NCAV (Graham)323.03 ARS489.44 ARS611.80 ARS54
Growth DCF
Growth DCF5,684 ARS7,812 ARS11,202 ARS76
Rev-Margin DCF3,815 ARS5,084 ARS7,708 ARS70
Economic Profit
Residual Income2,047 ARS2,380 ARS2,909 ARS74
ROIC Compounder2,926 ARS3,564 ARS3,976 ARS70
Growth Earnings
Growth-Adj P/E14,315 ARS20,449 ARS26,584 ARS65
The fair value above starts from this blend and is adjusted for a cyclical peak year.
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.80/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+19.9%
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.
+144.8%
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.
+99.7%
Start year 2020 (pandemic). Over 10 years: +95.1% a year
Revenue growth 10 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.
+95.1%
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What shareholders gained per year (last 3 years), in ARS (mathematically smoothed) ⓘ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 3 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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. Measured in ARS: 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.
+28.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+28.1%
Dividend (yield on the price)0.0%
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.23% → 45%
2025 sits 141% above its own trend. The rate follows the median trend of the last 3 years, not that single year.
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
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).
−12.2%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Argentina: IMF forecast 13.8% a year to 2030) that is about −22.9% a year for the price.
Compare Transportadora de Gas del Norte SA Class C with another stock
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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 Midstream · 81 stocks
Beats the industry median on 11/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score75 · Top 25%
Fair Value upside+2.4% · Above median
Profitability
Return on equity (12 months)18.0% · Above median
Return on assets16.8% · Top 25%
Net margin (12 months)32.4% · Above median
Operating margin (12 months)43.7% · Above median
Growth and dividend
Revenue growth (quarter YoY)1.9% · Bottom 25%
Dividend yield (12 months)0.0% · Bottom 25%
Valuation Multiplesvs Oil & Gas Midstream median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Transportadora de Gas del Norte SA Class C Fair Value". https://www.fairvalue-calculator.com/stock/TGNO4
Frequently asked questions
Is Transportadora de Gas del Norte SA Class C (TGNO4) overvalued or undervalued?
As of Nov 5, 2026, our model estimates a fair value of 2,648 ARS versus a price of 2,585 ARS, about +2% upside (fairly valued).
What is the fair value of TGNO4?
Our model-based fair value for Transportadora de Gas del Norte SA Class C is 2,648 ARS (as of Nov 5, 2026), built from audited fundamentals. The current price: 2,585 ARS.
What is the quality score of TGNO4?
Transportadora de Gas del Norte SA Class C has a Quality Score of 75/100. 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 Transportadora de Gas del Norte SA Class C (TGNO4)?
Our model-based price target is the fair value of 2,648 ARS (as of Nov 5, 2026) from 26 valuation models. Cautious scenario 1,829 ARS, optimistic scenario 3,921 ARS. It is a calculation from audited fundamentals, not an analyst target.
What is the Transportadora de Gas del Norte SA Class C stock forecast for 2026?
Our models put fair value at 2,648 ARS, about +2% upside versus a price of 2,585 ARS (fairly valued). Cautious scenario 1,829 ARS, optimistic scenario 3,921 ARS. The calculation is refreshed regularly with new filings.
What is the revenue of Transportadora de Gas del Norte SA Class C (TGNO4)?
Transportadora de Gas del Norte SA Class C reported trailing-twelve-month revenue of about 603B ARS (latest available figure, as of Nov 5, 2026).
What growth is priced into Transportadora de Gas del Norte SA Class C (TGNO4)?
For today's price to be fair in a discounted-cash-flow model, Transportadora de Gas del Norte SA Class C would have to grow free cash flow by -12.2 % per year for five years (discount rate 19.2 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +99.7 % per year. As of Nov 5, 2026.
What discount rate (WACC) does the fair value of TGNO4 use?
Our models discount Transportadora de Gas del Norte SA Class C at 19.2 %: a base by market capitalisation (small), damped by beta 0.09, country premium for Argentina. 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 Transportadora de Gas del Norte SA Class C that is -12.2 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (19.2 %) and the same formula as our fair value.
How much growth has Transportadora de Gas del Norte SA Class C (TGNO4) delivered so far?
Over the past 5 years revenue at Transportadora de Gas del Norte SA Class C grew +99.7 % a year. The price currently implies free-cash-flow growth of -12.2 % 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 Transportadora de Gas del Norte SA Class C (TGNO4) growing?
The median revenue growth in the sector is +14.3 % a year. That is the yardstick for the growth priced into Transportadora de Gas del Norte SA Class C (-12.2 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Transportadora de Gas del Norte SA Class C (TGNO4)?
The free-cash-flow yield on the price is 31.30 %: that much free cash flow Transportadora de Gas del Norte SA Class C produces per unit of market value. When it exceeds the discount rate of our models (19.2 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Transportadora de Gas del Norte SA Class C (TGNO4)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Transportadora de Gas del Norte SA Class C it is 2,648 ARS per share (as of Nov 5, 2026), against a price of 2,585 ARS. 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 Transportadora de Gas del Norte SA Class C stock overvalued or undervalued in 2026?
As of Nov 5, 2026, TGNO4 trades below its calculated fair value: price 2,585 ARS, fair value 2,648 ARS, a gap of about +2% (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 TGNO4?
No. The price is what the market pays today (2,585 ARS); the fair value is what the company's own numbers justify (2,648 ARS). For Transportadora de Gas del Norte SA Class C the two are 63.12 ARS per share apart. That gap is exactly why we show both numbers side by side.
How much is Transportadora de Gas del Norte SA Class C worth?
The market values Transportadora de Gas del Norte SA Class C at about 1.1T ARS (market capitalisation, as of Nov 5, 2026). Per share that is 2,585 ARS; our models calculate a fair value of 2,648 ARS per share.
What do the bullish and bearish scenarios say about TGNO4?
Our models span a range for Transportadora de Gas del Norte SA Class C: cautious scenario 1,829 ARS, base 2,648 ARS, optimistic 3,921 ARS per share (as of Nov 5, 2026, price 2,585 ARS). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TGNO4?
Transportadora de Gas del Norte SA Class C trades at a price-to-earnings ratio of 5.4 (as of Nov 5, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 2,648 ARS is built from several models across several years. Median P/E at fiscal year-end, 7 fiscal years (2017 to 2025), reported earnings: 6.7. Other multiples: P/B 1.1, P/S 1.9, EV/EBITDA 3.3.
How solid is the balance sheet of Transportadora de Gas del Norte SA Class C (TGNO4)?
Balance-sheet figures for Transportadora de Gas del Norte SA Class C (as of Nov 5, 2026): return on equity 18.0%. They feed the Quality Score of 75/100, which measures business quality independently of the share price.
How far is TGNO4 from its 52-week high?
Transportadora de Gas del Norte SA Class C trades at 2,585 ARS, about 49% below its 52-week high of 5,030 ARS and at the low of 2,578 ARS (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 2,648 ARS is for.
Which stocks are comparable to Transportadora de Gas del Norte SA Class C?
From the same area (Energy) we also value Enbridge Inc, The Williams Companies, Inc, Enterprise Products Partners L.P., Kinder Morgan, Inc, 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 Transportadora de Gas del Norte SA Class C stock attractive at the current price?
The data as of Nov 5, 2026: price 2,585 ARS, calculated fair value 2,648 ARS (+2%), Quality Score 75/100, 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 TGNO4 calculated?
We run Transportadora de Gas del Norte SA Class C 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 2,648 ARS 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. Transportadora de Gas del Norte SA Class C currently trades 2% 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 Transportadora de Gas del Norte SA Class C (TGNO4)?
The closing price on Nov 6, 2026 was 2,585 ARS. Our model-based fair value is 2,648 ARS, about +2% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Transportadora de Gas del Norte SA Class C right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (1,829 ARS to 3,921 ARS) leaves room in how you read the outcome.
Key figures of Transportadora de Gas del Norte SA Class C
How large is the market capitalisation of Transportadora de Gas del Norte SA Class C (TGNO4)?
The market capitalisation of Transportadora de Gas del Norte SA Class C is 1.1T ARS (≈ $735M). 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 Transportadora de Gas del Norte SA Class C (TGNO4)?
The price-to-sales ratio of Transportadora de Gas del Norte SA Class C is 1.89 (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 Transportadora de Gas del Norte SA Class C (TGNO4)?
Earnings per share at Transportadora de Gas del Norte SA Class C are 498.50 ARS (price ÷ EPS = P/E 5.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Transportadora de Gas del Norte SA Class C (TGNO4)?
The net margin of Transportadora de Gas del Norte SA Class C is 32.4% (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 Transportadora de Gas del Norte SA Class C (TGNO4)?
The return on equity (ROE) of Transportadora de Gas del Norte SA Class C is 18.0% (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 Transportadora de Gas del Norte SA Class C (TGNO4)?
On an EBIT basis the return on assets of Transportadora de Gas del Norte SA Class C is 3.1% (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 Transportadora de Gas del Norte SA Class C (TGNO4)?
The operating margin of Transportadora de Gas del Norte SA Class C is 43.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Transportadora de Gas del Norte SA Class C (TGNO4)?
Revenue at Transportadora de Gas del Norte SA Class C is growing +1.9% versus a year earlier (3y avg +145%). 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 Transportadora de Gas del Norte SA Class C (TGNO4)?
Earnings per share at Transportadora de Gas del Norte SA Class C are growing +63.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Transportadora de Gas del Norte SA Class C (TGNO4) carry?
The net debt of Transportadora de Gas del Norte SA Class C is 84.3B ARS (fiscal year 2024, ≈ 0.2 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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Nov 5, 2026