STOCK COMPARISON
Adani Total Gas vs Naturgy Energy Group: Fair Value & Quality
Both stocks run through our valuation models. Here is how Adani Total Gas (ATGL) and Naturgy Energy Group (NTGY) compare, as of Aug 4, 2026.
As of Aug 4, 2026, Fair Value Calculator sees Naturgy Energy Group as the more attractively valued of the two: Adani Total Gas trades at ₹651 versus a fair value of ₹145 (-78%), while Naturgy Energy Group trades at €28.96 versus €35.80 (+24%).
Adani Total Gas
ATGL.NSE · INR · Utilities
-78%
upside to fair value
overvalued
Price₹651
Fair Value₹145
Quality49/100
Naturgy Energy Group
NTGY.MC · EUR · Utilities
+24%
upside to fair value
undervalued
Price€28.96
Fair Value€35.80
Quality60/100
Head-to-head numbers
Green value = the better side for that row (for valuation multiples: lower = cheaper).
Adani Total GasNaturgy Energy Group
Valuation
121.9×P/E (TTM)13.0×
13.51×P/S (TTM)1.61×
16.37×P/B3.29×
68.7×EV/EBITDA7.8×
—PEG6.40×
0.0%Dividend yield—
₹0.25Dividend per share—
Profitability
11%Net margin11%
15%Operating margin18%
14%Return on equity22%
7%Return on assets6%
Growth
16%Revenue growth (YoY)-7%
10.4%Avg. growth/yr (3Y)-17.0%
28.3%Avg. growth/yr (5Y)4.9%
Balance & size
0.33×Debt / equity1.38×
$8BMarket cap$31B
expensiveGrowth qualityhealthy
Even match: 6 to 6 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.
Adani Total Gasof which business quality 47 · market factors 54
Naturgy Energy Groupof which business quality 52 · market factors 66
ProfitabilityMargins and returns on capital today
45
45
Quality GrowthAre margins and returns improving?
36
37
CashflowEarnings quality: real cash, not paper profit
36
67
Fin. StrengthBalance sheet, leverage, solvency risk
65
30
InvestmentDisciplined investing over empire-building
10
71
Low VolatilityCalm price path (market factor)
58
94
MomentumPrice trend over the last 3–12 months (market factor)
58
49
52W MomentumDistance to the 52-week high (market factor)
45
63
Net IssuanceBuybacks instead of dilution
81
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.
Adani Total Gas
Earnings-Based₹102
Dividend Discount₹4.78
Multiples₹111
Asset-Based₹29.64
Economic Profit₹80.48
Growth Earnings₹144
16 of 16 models see the stock below the current price.
Naturgy Energy Group
DCF Models€32.33
Earnings-Based€26.55
Dividend Discount€23.41
Multiples€42.38
Asset-Based€6.76
Growth DCF€32.80
Economic Profit€20.95
Growth Earnings€33.88
9 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.
Adani Total Gas
Bear ₹109Fair Value ₹145Bull ₹181
₹651 = current price (white tick)
Naturgy Energy Group
Bear €21.46Fair Value €35.80Bull €49.13
€28.96 = current price (white tick)
Compare two other stocks
Tap a field and type again, ticker or company name.
Ranked within their sector
Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.
Adani Total Gas · Utilities
Quality score49 · above median
Fair value upside-78% · bottom 25%
Naturgy Energy Group · Utilities
Quality score60 · Top 25%
Fair value upside+24% · above median
Bottom line
As of Aug 4, 2026, Fair Value Calculator sees Naturgy Energy Group as the more attractively valued of the two: Adani Total Gas trades at ₹651 versus a fair value of ₹145 (-78%), while Naturgy Energy Group trades at €28.96 versus €35.80 (+24%).
Naturgy Energy Group has the higher quality score (60/100).
See the full analysis →
More comparisons
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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.
