TGS NOPEC Geophysical Company ASA (TGS) fair value: what the stock is really worth
As of Nov 13, 2026: fair value (intrinsic value) of TGS NOPEC Geophysical Company ASA stock NOK 205, price NOK 139, upside +47.5%, quality 41 out of 100. Rating: undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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TGS NOPEC Geophysical Company ASA
TGS · OLRising price, but not cheap enough by our rule and weak company: meets 1 of 3 rules.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 13, 2026.
How to read this chart
60‑month range kr 60.13 – kr 166.55 · fair‑value band kr 197.58 – kr 219.25 · the kr 139.30 price screens below the kr 205.47 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 13, 2026.
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Company profile
TGS ASA provides geoscience data services to the oil and gas industry in Norway and internationally. It operates through Multi client, Marine Data Acquisition (MDA), Imaging, New Energy Solutions (NES), and Shared Services segments.
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The company offers seismic data using robust technology and imaging solutions; well data recorded expertly matched and validated, from permit to abandonment; carbon storage and monitoring solutions; wind energy data partner throughout the wind development lifecycle; solar operations; and asset management services.
It also offers applications for oil and gas, new energies, data platforms, and ai/machine learning. TGS ASA has a agreement with Ministry of Hydrocarbon and Mining Development of the Republic of Equatorial Guinea to create an offshore MegaSurvey.
The company was formerly known as TGS-NOPEC Geophysical Company ASA and changed its name to TGS ASA in June 2021. TGS ASA was founded in 1981 and is headquartered in Oslo, Norway.
Stock analysis
TGS NOPEC Geophysical Company ASA (TGS) currently trades at kr 139.30, while our model-based Fair Value estimate is kr 205.47, implying the stock looks roughly 32% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of kr 309.09 per share, and 10 of the 26 models we run sit above the kr 139.30 price.
Bear case: the Earnings-Based group reads lowest at kr 23.51, and 16 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: kr 197.58 (bear) to kr 219.25 (bull), the price of kr 139.30 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 41/100 (below-average quality), in the Energy sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
TGS NOPEC Geophysical Company ASA reported revenue of $1.5B in FY2025 versus $519M in FY2021, a compound +31.0%/yr. Reported net income was $18.3M in FY2025.
Key figures
Market cap 27.4B NOK (≈ $2.9B) Mid · P/E ratio 39.9 · P/S ratio 0.48 · EPS (TTM) kr 3.49 · Dividend yield 4.2% · Net margin 1.2% · Return on equity 3.7% · Return on assets (EBIT) 6.4% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 10% below its 52-week high and 70% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Energy peers we cover trades at −29% fair-value upside, at 48%, TGS 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 trough 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
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Compare TGS NOPEC Geophysical Company ASA 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 Equipment & Services · 174 stocks
Valuation Multiplesvs Oil & Gas Equipment & Services 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)
- Quality Score by industry
- Return on equity by industry
- Stock screener with 62 metrics
- Undervalued stocks: Energy
- Valuation of the Norway 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 Equipment & Services stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| Yantai Jereh Oilfield Services Group 002353 | ¥73.83 | ¥89.99 | +22% | vs TGS |
| Gaztransport & Technigaz SA GTT | €186.20 | €205.48 | +10% | vs TGS |
| China Oilfield Services Limited 601808 | ¥12.34 | ¥13.04 | +6% | vs TGS |
| Subsea 7 S.A SUBC | kr 311.20 | kr 257.37 | −17% | vs TGS |
| Tenaris S.A TEN | €27.66 | €19.76 | −29% | vs TGS |
| Halliburton Company HAL | $32.76 | $21.72 | −34% | vs TGS |
| Baker Hughes Company BKR | $48.86 | $32.37 | −34% | vs TGS |
| Saipem SpA SPM | €4.22 | €2.72 | −36% | vs TGS |
| SLB N.V SLB | $50.91 | $30.94 | −39% | vs TGS |
| TechnipFMC plc FTI | $64.92 | $28.12 | −57% | vs TGS |
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Frequently asked questions
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Key figures of TGS NOPEC Geophysical Company ASA
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