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STOCK COMPARISON

Great Taipei Gas vs Naturgy Energy Group: Fair Value & Quality

Both stocks run through our valuation models. Here is how Great Taipei Gas (9908) and Naturgy Energy Group (NTGY) compare, as of Aug 11, 2026.

As of Aug 11, 2026, Fair Value Calculator sees Naturgy Energy Group as the more attractively valued of the two: Great Taipei Gas trades at TWD 29.05 versus a fair value of TWD 22.76 (-22%), while Naturgy Energy Group trades at €28.62 versus €35.80 (+25%).
Great Taipei Gas
9908.TW · TWD · Utilities
-22%
upside to fair value
overvalued
PriceTWD 29.05
Fair ValueTWD 22.76
Quality51/100
Naturgy Energy Group
NTGY.MC · EUR · Utilities
+25%
upside to fair value
undervalued
Price€28.62
Fair Value€35.80
Quality55/100

Head-to-head numbers

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

Great Taipei GasNaturgy Energy Group
Valuation
16.5×P/E (TTM)13.0×
4.34×P/S (TTM)1.62×
1.04×P/B3.30×
13.7×EV/EBITDA7.9×
2.27×PEG6.40×
4.1%Dividend yield
TWD 1.20Dividend per share
Profitability
26%Net margin11%
14%Operating margin18%
6%Return on equity22%
1%Return on assets6%
Growth
-1%Revenue growth (YoY)-7%
0.6%Avg. growth/yr (3Y)-17.0%
-1.0%Avg. growth/yr (5Y)4.9%
Balance & size
Debt / equity1.38×
$455MMarket cap$31B
weakGrowth qualityhealthy

Naturgy Energy Group leads: 5 to 7 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.

Great Taipei Gasof which business quality 52 · market factors 50 Naturgy Energy Groupof which business quality 52 · market factors 67
ProfitabilityMargins and returns on capital today
36
45
Quality GrowthAre margins and returns improving?
35
37
CashflowEarnings quality: real cash, not paper profit
64
67
Fin. StrengthBalance sheet, leverage, solvency risk
78
30
InvestmentDisciplined investing over empire-building
64
71
Low VolatilityCalm price path (market factor)
98
94
MomentumPrice trend over the last 3–12 months (market factor)
37
51
52W MomentumDistance to the 52-week high (market factor)
18
63
Net IssuanceBuybacks instead of dilution
29
76

What the models say

The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.

Great Taipei Gas

DCF ModelsTWD 20.60
Earnings-BasedTWD 14.12
Dividend DiscountTWD 13.34
MultiplesTWD 20.76
Asset-BasedTWD 18.89
Growth DCFTWD 18.87
Economic ProfitTWD 17.82
Growth EarningsTWD 23.64

21 of 24 models see the stock below the current price.

Naturgy Energy Group

DCF Models€30.77
Earnings-Based€26.55
Dividend Discount€23.41
Multiples€40.20
Asset-Based€6.76
Growth DCF€32.80
Economic Profit€20.95
Growth Earnings€30.66

11 of 24 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.

Great Taipei Gas
Bear TWD 16.55Fair Value TWD 22.76Bull TWD 27.47
TWD 29.05 = current price (white tick)
Naturgy Energy Group
Bear €21.46Fair Value €35.80Bull €49.13
€28.62 = 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.

Great Taipei Gas · Utilities

Quality score51 · above median
Fair value upside-22% · below median

Naturgy Energy Group · Utilities

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

Bottom line

As of Aug 11, 2026, Fair Value Calculator sees Naturgy Energy Group as the more attractively valued of the two: Great Taipei Gas trades at TWD 29.05 versus a fair value of TWD 22.76 (-22%), while Naturgy Energy Group trades at €28.62 versus €35.80 (+25%).

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

See the full analysis →

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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.