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STOCK COMPARISON

Chongqing Gas Grp Corp vs Naturgy Energy Group: Fair Value & Quality

Both stocks run through our valuation models. Here is how Chongqing Gas Grp Corp (600917) and Naturgy Energy Group (NTGY) compare, as of Sep 24, 2026.

As of Sep 24, 2026, Fair Value Calculator sees Naturgy Energy Group as the more attractively valued of the two: Chongqing Gas Grp Corp trades at ¥4.81 versus a fair value of ¥3.19 (-34%), while Naturgy Energy Group trades at €29.22 versus €32.79 (+12%).
Chongqing Gas Grp Corp
600917.SHG · CNY · Utilities
-34%
upside to fair value
overvalued
Price¥4.81
Fair Value¥3.19
Quality51/100
Naturgy Energy Group
NTGY.MC · EUR · Utilities
+12%
upside to fair value
undervalued
Price€29.22
Fair Value€32.79
Quality55/100
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

Chongqing Gas Grp CorpNaturgy Energy Group
Valuation
34.4×P/E (TTM)13.2×
0.74×P/S (TTM)1.69×
1.29×P/B3.45×
14.7×EV/EBITDA8.1×
n/aPEG6.40×
−33.6%Fair value upside+12.2%
1.1%Dividend yield6.3%
¥0.05Dividend per sharen/a
Profitability
-2%Operating margin18%
0.35×EBIT margin trend (5Y)1.42×
4%Return on equity22%
1%Return on assets6%
Growth
-5%Revenue growth (YoY)-7%
5.9%Avg. growth/yr (3Y)n/a
8.6%Avg. growth/yr (5Y)n/a
−11.2%Value creation/yr+15.4%
Balance & size
8.3×Interest coverage (EBIT/interest)7.1×
0.05×Debt / equity1.38×
$1BMarket cap$32B
mixedGrowth qualitymixed

Naturgy Energy Group leads: 4 to 8 metric wins.

n/a = 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.

Chongqing Gas Grp Corpof which business quality 51 · market factors 45 Naturgy Energy Groupof which business quality 52 · market factors 70
ProfitabilityMargins and returns on capital today
31
45
Quality GrowthAre margins and returns improving?
36
37
CashflowEarnings quality: real cash, not paper profit
37
67
Fin. StrengthBalance sheet, leverage, solvency risk
63
30
InvestmentDisciplined investing over empire-building
84
71
Low VolatilityCalm price path (market factor)
91
94
MomentumPrice trend over the last 3–12 months (market factor)
31
55
52W MomentumDistance to the 52-week high (market factor)
15
68
Net IssuanceShare count: buybacks or dilution?
72
76

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 familyChongqing Gas Grp CorpPrice ¥4.81Naturgy Energy GroupPrice €29.22
DCF Models-54%below the price¥2.22+18%above the price€34.42
Earnings-Based-80%below the price¥0.96-9%close to the price€26.55
Dividend Discount-74%below the price¥1.27-20%below the price€23.41
Multiples-51%below the price¥2.36+38%above the price€40.20
Asset-Based-48%below the price¥2.49-77%below the price€6.76
Growth DCF-63%below the price¥1.79+26%above the price€36.74
Economic Profit-62%below the price¥1.85-28%below the price€20.95
Growth Earnings-56%below the price¥2.13+5%close to the price€30.66
Minimum-80%below the price¥0.96-77%below the price€6.76
Maximum-48%below the price¥2.49+38%above the price€40.20
Median-59%below the price¥1.99-2%close to the price€28.60
Geometric mean-63%below the price¥1.80-16%below the price€24.67

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%.

Chongqing Gas Grp Corp: 26 of 26 models see the stock below the current price.

Naturgy Energy Group: 8 of 24 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

Chongqing Gas Grp Corp
Price ¥4.81
Fair Value ¥3.19
Bear ¥2.25Bull ¥4.01
Naturgy Energy Group
Price €29.22
Fair Value €32.79
Bear €20.92Bull €48.33

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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.

Chongqing Gas Grp Corp · Utilities

Quality score51 · above median
Fair value upside-34% · below median

Naturgy Energy Group · Utilities

Quality score55 · Top 25%
Fair value upside+12% · above median

Bottom line

As of Sep 24, 2026, Fair Value Calculator sees Naturgy Energy Group as the more attractively valued of the two: Chongqing Gas Grp Corp trades at ¥4.81 versus a fair value of ¥3.19 (-34%), while Naturgy Energy Group trades at €29.22 versus €32.79 (+12%).

Naturgy Energy Group has the higher quality score (55/100).

Open Naturgy Energy Group live analysis →

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