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STOCK COMPARISON

Cnooc vs Societatea Nationala de Gaze Naturale Romgaz: Fair Value & Quality

Both stocks run through our valuation models. Here is how Cnooc (0883) and Societatea Nationala de Gaze Naturale Romgaz (SNG) compare, as of Sep 5, 2026.

As of Sep 5, 2026, Fair Value Calculator sees Cnooc as the more attractively valued of the two: Cnooc trades at HK$25.06 versus a fair value of HK$26.54 (+6%), while Societatea Nationala de Gaze Naturale Romgaz trades at 17.58 versus 5.99 (-66%).
Cnooc
0883.HK · HKD · Energy
+6%
upside to fair value
fairly valued
PriceHK$25.06
Fair ValueHK$26.54
Quality63/100
Societatea Nationala de Gaze Naturale Romgaz
SNG.RO · Energy
-66%
upside to fair value
overvalued
Price17.58
Fair Value5.99
Quality44/100
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Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

CnoocSocietatea Nationala de Gaze Naturale Romgaz
Valuation
7.7×P/E (TTM)20.4×
2.67×P/S (TTM)1.44×
1.35×P/B0.66×
4.3×EV/EBITDA3.6×
0.16×PEG
+5.9%Fair value upside−65.9%
4.6%Dividend yield0.9%
HK$1.15Dividend per share0.16
Profitability
45%Operating margin51%
2.05×EBIT margin trend (5Y)1.30×
15%Return on equity20%
9%Return on assets10%
Growth
9%Revenue growth (YoY)-10%
-3.7%Avg. growth/yr (3Y)-15.6%
20.0%Avg. growth/yr (5Y)14.5%
+17.4%Value creation/yr−22.3%
Balance & size
65.7×Interest coverage (EBIT/interest)35.4×
0.07×Debt / equity0.31×
$139BMarket cap$11B
weakGrowth qualityweak

Cnooc leads: 9 to 5 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Cnoocof which business quality 64 · market factors 63 Societatea Nationala de Gaze Naturale Romgazof which business quality 46 · market factors 91
ProfitabilityMargins and returns on capital today
55
64
Quality GrowthAre margins and returns improving?
36
24
CashflowEarnings quality: real cash, not paper profit
76
38
Fin. StrengthBalance sheet, leverage, solvency risk
84
80
InvestmentDisciplined investing over empire-building
40
2
Low VolatilityCalm price path (market factor)
83
68
MomentumPrice trend over the last 3–12 months (market factor)
47
100
52W MomentumDistance to the 52-week high (market factor)
69
100
Net IssuanceBuybacks instead of dilution
79
40

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyCnoocPrice HK$25.06Societatea Nationala de Gaze Naturale RomgazPrice 17.58
DCF Models+65%above the priceHK$41.36n/a
Earnings-Based+11%close to the priceHK$27.87-62%below the price6.77
Dividend Discount+1%close to the priceHK$25.25-85%below the price2.66
Multiples+33%above the priceHK$33.44-60%below the price7.00
Asset-Based-52%below the priceHK$12.08-83%below the price2.94
Growth DCF+33%above the priceHK$33.29n/a
Economic Profit+30%above the priceHK$32.53-50%below the price8.73
Growth Earnings+34%above the priceHK$33.61-37%below the price11.07
Minimum-52%below the priceHK$12.08-85%below the price2.66
Maximum+65%above the priceHK$41.36-37%below the price11.07
Median+31%above the priceHK$32.91-61%below the price6.88
Geometric mean+13%close to the priceHK$28.44-67%below the price5.74

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Cnooc: 10 of 26 models see the stock below the current price.

Societatea Nationala de Gaze Naturale Romgaz: 16 of 16 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

Cnooc
Bear HK$19.94Fair Value HK$26.54Bull HK$33.98
HK$25.06 = current price (white tick)
Societatea Nationala de Gaze Naturale Romgaz
Bear 4.21Fair Value 5.99Bull 7.78
17.58 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Cnooc · Energy

Quality score63 · Top 25%
Fair value upside+6% · above median

Societatea Nationala de Gaze Naturale Romgaz · Energy

Quality score44 · below median
Fair value upside-66% · bottom 25%

Bottom line

As of Sep 5, 2026, Fair Value Calculator sees Cnooc as the more attractively valued of the two: Cnooc trades at HK$25.06 versus a fair value of HK$26.54 (+6%), while Societatea Nationala de Gaze Naturale Romgaz trades at 17.58 versus 5.99 (-66%).

Cnooc has the higher quality score (63/100).

See the full analysis →

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.