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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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Energy NO · ISIN NO0003078800

TN TGS NOPEC Geophysical Company ASA logo Broad data Nov 13, 2026

TGS NOPEC Geophysical Company ASA

TGS · OL

Rising price, but not cheap enough by our rule and weak company: meets 1 of 3 rules.

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Fair value kr 205.47 · Undervalued 
Rising price (uptrend) 
Low debt 
Generates free cash flow 
4.2% dividend yield · Sustainable
Broad data 
Even on cautious assumptions the value is 42% above the price (kr 197.58). 
Quality 41/100 
Expensive Growth (revenue 5y +36.7 %/yr in USD) 
Thin margins · 5.4% net margin (TTM) 
Mixed vs. peers (7/15) 
Moderate moat 47/100 · thin data
Trough year lifted: kr 121.96 → kr 205.47 
⟳ CyclicalQuality growth
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Price vs Fair Value

kr 166.55 kr 60.13 Fair Value kr 205.47 Aug 2021 Nov 2026

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

Bear kr 197.58 Fair Value kr 205.47 Bull kr 219.25
Price kr 139.30 · Upside +47.5%
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. 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 DCF kr 248.43 kr 472.21 kr 859.11 77
Growth DCF kr 244.10 kr 442.27 kr 768.80 76
Residual Income kr 58.64 kr 60.98 kr 65.07 76
All 26 models by family
DCF Models
FCF DCF kr 248.43 kr 472.21 kr 859.11 77
Owner Earnings kr 400.91 kr 752.20 kr 1,360 73
5Y Revenue Exit kr 110.03 kr 174.26 kr 255.98 72
5Y EBITDA Exit kr 190.84 kr 344.86 kr 538.70 73
5Y P/E Exit kr 74.10 kr 98.41 kr 121.53 72
10Y Revenue Exit kr 153.16 kr 230.98 kr 341.82 66
10Y EBITDA Exit kr 208.17 kr 354.86 kr 578.60 67
10Y P/E Exit kr 131.74 kr 175.90 kr 229.22 65
Earnings-Based
Graham-Dodd kr 6.05 kr 30.44 kr 42.03 64
Lynch FV kr 11.60 kr 16.57 kr 21.54 61
PEG = 1.0 kr 11.60 kr 16.57 kr 21.54 57
EPV kr 37.95 kr 46.97 kr 54.74 74
Dividend Discount
Gordon GGM kr 51.99 kr 103.59 kr 156.86 67
DDM Multi-Stage kr 51.99 kr 89.52 kr 109.34 67
Multiples
P/E Multiple kr 9.35 kr 12.46 kr 15.58 63
P/S Multiple kr 11.35 kr 15.13 kr 18.91 58
P/B Multiple kr 7.45 kr 9.94 kr 12.42 55
EV/EBIT kr 45.24 kr 67.42 kr 89.60 65
EV/EBITDA kr 174.85 kr 240.24 kr 305.62 67
EV/Revenue kr 41.08 kr 67.82 kr 94.55 52
Asset-Based
NCAV (Graham) kr 2.76 kr 3.70 kr 5.52 54
Growth DCF
Growth DCF kr 244.10 kr 442.27 kr 768.80 76
Rev-Margin DCF kr 110.03 kr 175.90 kr 263.55 72
Economic Profit
Residual Income kr 58.64 kr 60.98 kr 65.07 76
ROIC Compounder kr 37.95 kr 46.97 kr 54.74 72
Growth Earnings
Growth-Adj P/E kr 10.35 kr 14.79 kr 19.23 67

The fair value above starts from this blend and is adjusted for a cyclical trough year.

Open the full fair value analysis →

Quality Score breakdown

Overall quality 41/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 27
How much profit the company makes from its sales and capital
Quality Growth 76
Are margins and returns getting better?
Cashflow 79
Do the profits arrive as real cash?
Financial strength 61
Debt, balance sheet and risk of trouble
Investment 5
Does it invest with discipline instead of growing at any price?
Low Volatility 73
How calm the share price moves, does not count
Price momentum 57
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 87
Distance to the 52-week high, does not count
New shares 0
Buys back shares or issues new ones?

Open the full quality analysis →

Revenue & earnings trend

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. 62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+15.8%
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.
+28.7%
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.
+36.7%
Start year 2020 (pandemic). Over 10 years: +9.6% a year
Revenue growth 25 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.
+2.8%
What shareholders gained per year (last 5 years) ⓘ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. Basis: EBIT basis.
−4.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−8.5%
Dividend (yield on the price)4.2%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−38.2% vs −22.4%, slowing
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.−17% → 12%
Pace: the 5-year rate starts in 2020 (pandemic)
⚠ Revenue per share shrinking 1.6%/yr over ~10Y (margins eroding too) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.

Growth Forecast

Little optimism in the price
The price assumes less growth than the company has delivered so far and less 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).
−6.1%
The company could shrink this much every year for the next five years and today's price would still be justified.
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.
+3.7%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in USD, USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about −8.2% a year for the price and +1.3% for the forecasts.
Forecast 2026 (sales)−0.1%
Forecast 2027 (sales)+5.4%
Projected 2028 (sales)+4.9%
Projected 2029 (sales)+4.5%
Projected 2030 (sales)+4.1%

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Note from the team Oct 11, 2026
AI conclusion: Robust contract activity in advanced surveys offers revenue stability, but persistently low returns and limited competitive signals constrain overall business quality.
Main risk: Slower multi-client library investment risks weakening the future licensing revenues that rely on an up-to-date data offering.
TGS shows stronger Ocean Bottom Node activity than expected in the latest quarter while spending less on multi-client data than a year ago. All streamer vessels are booked solid for the rest of the year. Does the rise in contract-based advanced surveys build a more stable revenue stream than the slower library investment can support for future licensing?
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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 Equipment & Services · 174 stocks

Beats the industry median on 7/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 41 · Below median
Fair Value upside +47.5% · Top 25%
Profitability
Return on equity (12 months) 3.7% · Below median
Return on assets 0.5% · Below median
Net margin (12 months) 5.4% · Above median
Operating margin (12 months) 27.2% · Top 25%
Growth and dividend
Revenue growth (quarter YoY) 0.9% · Below median
Dividend yield (12 months) 4.2% · Top 25%
Balance sheet
Debt / equity 0.31× · Above median

Valuation Multiplesvs Oil & Gas Equipment & Services median · lower = cheaper

P/E (12 months) 39.9× · Priciest 25%
P/B 1.44× · Pricier than median
P/S (12 months) 2.10× · Pricier than median
Price / free cash flow (fiscal year) 7.5× · Cheaper than median
EV/EBITDA 5.8× · Cheaper than median
PEG 0.92× · Cheaper than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)97 · sector 17
FUTURE (revenue growth)5 · sector 36
PAST (return on equity)15 · sector 26
HEALTH (low debt)85 · sector 91
DIVIDEND (yield)84 · sector 39

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Oil & gas

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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TGS NOPEC Geophysical Company ASA: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "TGS NOPEC Geophysical Company ASA Fair Value". https://www.fairvalue-calculator.com/stock/TGS.OL

Frequently asked questions

Is TGS NOPEC Geophysical Company ASA (TGS) overvalued or undervalued?
As of Nov 13, 2026, our model estimates a fair value of kr 205.47 versus a price of kr 139.30, about +48% upside (undervalued).
What is the fair value of TGS?
Our model-based fair value for TGS NOPEC Geophysical Company ASA is kr 205.47 (as of Nov 13, 2026), built from audited fundamentals. The current price: kr 139.30.
What is the quality score of TGS?
TGS NOPEC Geophysical Company ASA has a Quality Score of 41/100. 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 TGS NOPEC Geophysical Company ASA (TGS)?
Our model-based price target is the fair value of kr 205.47 (as of Nov 13, 2026) from 26 valuation models. Cautious scenario kr 197.58, optimistic scenario kr 219.25. It is a calculation from audited fundamentals, not an analyst target.
What is the TGS NOPEC Geophysical Company ASA stock forecast for 2026?
Our models put fair value at kr 205.47, about +48% upside versus a price of kr 139.30 (undervalued). Cautious scenario kr 197.58, optimistic scenario kr 219.25. The calculation is refreshed regularly with new filings.
What is the revenue of TGS NOPEC Geophysical Company ASA (TGS)?
TGS NOPEC Geophysical Company ASA reported trailing-twelve-month revenue of about $1.4B (latest available figure, as of Nov 13, 2026).
Does TGS NOPEC Geophysical Company ASA pay a dividend?
TGS NOPEC Geophysical Company ASA currently shows a dividend yield of 4.20% relative to its recent price (as of Nov 13, 2026).
How much is the dividend of TGS NOPEC Geophysical Company ASA (TGS) and when is the ex-dividend date?
TGS NOPEC Geophysical Company ASA pays a dividend of kr 5.85 per share a year, a dividend yield of 4.2%. The last ex-dividend date was Oct 29, 2026. A dividend has been paid every year since at least 2010. Free cash flow covers the dividend 3.17 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into TGS NOPEC Geophysical Company ASA (TGS)?
For today's price to be fair in a discounted-cash-flow model, TGS NOPEC Geophysical Company ASA would have to grow free cash flow by -6.1 % per year for five years (discount rate 9.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +36.7 % per year. As of Nov 13, 2026.
What discount rate (WACC) does the fair value of TGS use?
Our models discount TGS NOPEC Geophysical Company ASA at 9.5 %: a base by market capitalisation (mid), country premium for Norway. 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 TGS NOPEC Geophysical Company ASA that is -6.1 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.5 %) and the same formula as our fair value.
How much growth has TGS NOPEC Geophysical Company ASA (TGS) delivered so far?
Over the past 5 years revenue at TGS NOPEC Geophysical Company ASA grew +36.7 % a year. The price currently implies free-cash-flow growth of -6.1 % 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 TGS NOPEC Geophysical Company ASA (TGS) growing?
The median revenue growth in the sector is +13.0 % a year. That is the yardstick for the growth priced into TGS NOPEC Geophysical Company ASA (-6.1 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of TGS NOPEC Geophysical Company ASA (TGS)?
The free-cash-flow yield on the price is 13.31 %: that much free cash flow TGS NOPEC Geophysical Company ASA produces per unit of market value. When it exceeds the discount rate of our models (9.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of TGS NOPEC Geophysical Company ASA (TGS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For TGS NOPEC Geophysical Company ASA it is kr 205.47 per share (as of Nov 13, 2026), against a price of kr 139.30. 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 TGS NOPEC Geophysical Company ASA stock overvalued or undervalued in 2026?
As of Nov 13, 2026, TGS trades below its calculated fair value: price kr 139.30, fair value kr 205.47, a gap of about +48% (undervalued). 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 TGS?
No. The price is what the market pays today (kr 139.30); the fair value is what the company's own numbers justify (kr 205.47). For TGS NOPEC Geophysical Company ASA the two are kr 66.17 per share apart. That gap is exactly why we show both numbers side by side.
How much is TGS NOPEC Geophysical Company ASA worth?
The market values TGS NOPEC Geophysical Company ASA at about 27.4B NOK (market capitalisation, as of Nov 13, 2026). Per share that is kr 139.30; our models calculate a fair value of kr 205.47 per share.
What do the bullish and bearish scenarios say about TGS?
Our models span a range for TGS NOPEC Geophysical Company ASA: cautious scenario kr 197.58, base kr 205.47, optimistic kr 219.25 per share (as of Nov 13, 2026, price kr 139.30). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TGS?
TGS NOPEC Geophysical Company ASA trades at a price-to-earnings ratio of 39.9 (as of Nov 13, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 205.47 is built from several models across several years. Median P/E at fiscal year-end, 8 fiscal years (2016 to 2025), reported earnings, FY2025 ex one-offs: 30.8. Other multiples: PEG 0.9, P/B 1.4, P/S 2.1, EV/EBITDA 5.8.
What is the PEG ratio of TGS?
The PEG ratio of TGS NOPEC Geophysical Company ASA is 0.92 (P/E divided by earnings growth, as of Nov 13, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of TGS NOPEC Geophysical Company ASA (TGS)?
Balance-sheet figures for TGS NOPEC Geophysical Company ASA (as of Nov 13, 2026): return on equity 3.7%, debt of 0.31 per unit of equity. They feed the Quality Score of 41/100, which measures business quality independently of the share price.
How far is TGS from its 52-week high?
TGS NOPEC Geophysical Company ASA trades at kr 139.30, about 10% below its 52-week high of kr 155.58 and 70% above the low of kr 82.11 (as of Nov 13, 2026). Distance from the high says nothing about value: that is what the fair value of kr 205.47 is for.
Which stocks are comparable to TGS NOPEC Geophysical Company ASA?
From the same area (Energy) we also value SLB N.V, Baker Hughes Company, Tenaris S.A, Halliburton 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 TGS NOPEC Geophysical Company ASA stock attractive at the current price?
The data as of Nov 13, 2026: price kr 139.30, calculated fair value kr 205.47 (+48%), Quality Score 41/100, 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 TGS calculated?
We run TGS NOPEC Geophysical Company ASA 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 kr 205.47 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 14.0% above its aggregate fair value. TGS NOPEC Geophysical Company ASA currently trades 32% 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 TGS NOPEC Geophysical Company ASA (TGS)?
The closing price on Nov 13, 2026 was kr 139.30. Our model-based fair value is kr 205.47, about +48% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with TGS NOPEC Geophysical Company ASA right now?
The large discount to fair value meets weak quality (41/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case (kr 197.58). The market is more pessimistic than our downside scenario. The models converge in a tight band (kr 197.58 to kr 219.25), unusually little disagreement for a valuation.
Where does the earnings growth of TGS NOPEC Geophysical Company ASA (TGS) come from?
Earnings per share at TGS NOPEC Geophysical Company ASA grew −15.4 % a year from 2013 to 2024. Broken into its drivers: revenue per share −2.8 %, EBIT margin −10.3 %, tax rate −1.6 %, residual (interest, one-offs) −1.4 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.

Key figures of TGS NOPEC Geophysical Company ASA

How large is the market capitalisation of TGS NOPEC Geophysical Company ASA (TGS)?
The market capitalisation of TGS NOPEC Geophysical Company ASA is 27.4B NOK (≈ $2.9B). 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 TGS NOPEC Geophysical Company ASA (TGS)?
The price-to-sales ratio of TGS NOPEC Geophysical Company ASA is 0.48 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of TGS NOPEC Geophysical Company ASA (TGS)?
Earnings per share at TGS NOPEC Geophysical Company ASA are kr 3.49 (price ÷ EPS = P/E 39.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of TGS NOPEC Geophysical Company ASA (TGS)?
The dividend yield of TGS NOPEC Geophysical Company ASA is 4.2% (payout 168%). 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 TGS NOPEC Geophysical Company ASA (TGS)?
The net margin of TGS NOPEC Geophysical Company ASA is 1.2% (fiscal year 2025). 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 TGS NOPEC Geophysical Company ASA (TGS)?
The return on equity (ROE) of TGS NOPEC Geophysical Company ASA is 3.7% (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 TGS NOPEC Geophysical Company ASA (TGS)?
On an EBIT basis the return on assets of TGS NOPEC Geophysical Company ASA is 6.4% (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 TGS NOPEC Geophysical Company ASA (TGS)?
The operating margin of TGS NOPEC Geophysical Company ASA is 27.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at TGS NOPEC Geophysical Company ASA (TGS)?
Revenue at TGS NOPEC Geophysical Company ASA is growing +0.9% versus a year earlier (3y avg +28.7%). 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 TGS NOPEC Geophysical Company ASA (TGS)?
Earnings per share at TGS NOPEC Geophysical Company ASA are growing −3.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does TGS NOPEC Geophysical Company ASA (TGS) carry?
The net debt of TGS NOPEC Geophysical Company ASA is $438M (fiscal year 2025, ≈ 1.2 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Why does TGS NOPEC Geophysical Company ASA not meet the fair value rule although the fair value shown is higher?
Trough year lifted: kr 121.96 → kr 205.47. The latest year was a trough or loss year. So we calculate with a normal year: kr 205.47 instead of kr 121.96. As in the backtest, the fair value rule checks the value before: -12% against the price.
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