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STOCK COMPARISON

Shin Shin Natural Gas Co vs Naturgy Energy Group: Fair Value & Quality

Both stocks run through our valuation models. Here is how Shin Shin Natural Gas Co (9918) and Naturgy Energy Group (NTGY) compare, as of Sep 25, 2026.

As of Sep 25, 2026, Fair Value Calculator sees Naturgy Energy Group as the more attractively valued of the two: Shin Shin Natural Gas Co trades at TWD 42.70 versus a fair value of TWD 17.27 (-60%), while Naturgy Energy Group trades at €29.50 versus €32.79 (+11%).
Shin Shin Natural Gas Co
9918.TW · TWD · Utilities
-60%
upside to fair value
overvalued
PriceTWD 42.70
Fair ValueTWD 17.27
Quality56/100
Naturgy Energy Group
NTGY.MC · EUR · Utilities
+11%
upside to fair value
undervalued
Price€29.50
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

Shin Shin Natural Gas CoNaturgy Energy Group
Valuation
26.7×P/E (TTM)13.3×
3.81×P/S (TTM)1.71×
2.29×P/B3.48×
12.2×EV/EBITDA8.2×
n/aPEG6.40×
−59.6%Fair value upside+11.2%
3.5%Dividend yield6.3%
TWD 1.50Dividend per sharen/a
Profitability
19%Operating margin18%
1.04×EBIT margin trend (5Y)1.42×
10%Return on equity22%
3%Return on assets6%
Growth
-9%Revenue growth (YoY)-7%
1.8%Avg. growth/yr (3Y)n/a
0.6%Avg. growth/yr (5Y)n/a
+0.9%Value creation/yr+15.4%
Balance & size
328.1×Interest coverage (EBIT/interest)7.1×
n/aDebt / equity1.38×
$239MMarket cap$33B
weakGrowth qualitymixed

Naturgy Energy Group leads: 3 to 9 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.

Shin Shin Natural Gas Coof which business quality 56 · market factors 47 Naturgy Energy Groupof which business quality 52 · market factors 71
ProfitabilityMargins and returns on capital today
36
45
Quality GrowthAre margins and returns improving?
34
37
CashflowEarnings quality: real cash, not paper profit
43
67
Fin. StrengthBalance sheet, leverage, solvency risk
81
30
InvestmentDisciplined investing over empire-building
64
71
Low VolatilityCalm price path (market factor)
80
94
MomentumPrice trend over the last 3–12 months (market factor)
36
55
52W MomentumDistance to the 52-week high (market factor)
29
71
Net IssuanceShare count: buybacks or dilution?
84
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 familyShin Shin Natural Gas CoPrice TWD 42.70Naturgy Energy GroupPrice €29.50
DCF Models-59%below the priceTWD 17.43+17%above the price€34.42
Earnings-Based-62%below the priceTWD 16.10-10%close to the price€26.55
Dividend Discount-69%below the priceTWD 13.10-21%below the price€23.41
Multiples-34%below the priceTWD 28.22+36%above the price€40.20
Asset-Based-71%below the priceTWD 12.47-77%below the price€6.76
Growth DCF-66%below the priceTWD 14.31+25%above the price€36.74
Economic Profit-65%below the priceTWD 15.14-29%below the price€20.95
Growth Earnings-48%below the priceTWD 22.01+4%close to the price€30.66
Minimum-71%below the priceTWD 12.47-77%below the price€6.76
Maximum-34%below the priceTWD 28.22+36%above the price€40.20
Median-63%below the priceTWD 15.62-3%close to the price€28.60
Geometric mean-61%below the priceTWD 16.74-16%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%.

Shin Shin Natural Gas Co: 24 of 24 models see the stock below the current price.

Naturgy Energy Group: 9 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.

Shin Shin Natural Gas Co
Price TWD 42.70
Fair Value TWD 17.27
Bear TWD 13.29Bull TWD 22.91
Naturgy Energy Group
Price €29.50
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.

Shin Shin Natural Gas Co · Utilities

Quality score56 · Top 25%
Fair value upside-60% · bottom 25%

Naturgy Energy Group · Utilities

Quality score55 · Top 25%
Fair value upside+11% · above median

Bottom line

As of Sep 25, 2026, Fair Value Calculator sees Naturgy Energy Group as the more attractively valued of the two: Shin Shin Natural Gas Co trades at TWD 42.70 versus a fair value of TWD 17.27 (-60%), while Naturgy Energy Group trades at €29.50 versus €32.79 (+11%).

Shin Shin Natural Gas Co has the higher quality score (56/100).

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.