Petronas Gas Bhd (6033) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Petronas Gas Bhd stock MYR 11.02, price MYR 17.42, that is 36.7% below the price, quality 64 out of 100. Rating: strongly overvalued. Calculated from audited financials with 25 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range 12.45 MYR – 18.40 MYR · fair‑value band 7.22 MYR – 15.26 MYR · the 17.42 MYR price screens above the 11.02 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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PETRONAS Gas Berhad engages in separating natural gas into its components and storing in Malaysia. The company operates through four segments: Gas Processing, Gas Transportation, Regasification, and Utilities.
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It is involved in processing of natural gas into sales gas and other by-products, such as ethane, propane, and butane; transportation of processed gas to shippers' end customers and provision of operations and maintenance services; and regasification of liquefied natural gas (LNG), as well as provides LNG reloading and storage, truck loading, and gassing up and cooling down services.
The company also manufactures, markets, and supplies industrial utilities; and owns, constructs, and operates power plants for the generation of electricity. The company was incorporated in 1983 and is based in Kuala Lumpur, Malaysia.
PETRONAS Gas Berhad operates as a subsidiary of Petroliam Nasional Berhad.
Stock analysis
Petronas Gas Bhd (6033) currently trades at 17.42 MYR, while our model-based Fair Value estimate is 11.02 MYR, 37% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 14.01 MYR per share, and 0 of the 25 models we run sit above the 17.42 MYR price.
Bear case: the Asset-Based group reads lowest at 4.81 MYR, and 25 of the 25 models stay below the price. Data coverage for this calculation is high.
Scenario range: 7.22 MYR (bear) to 15.26 MYR (bull), the price of 17.42 MYR sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 64/100 (solid quality), in the Energy sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Petronas Gas Bhd reported revenue of 6.4B MYR in FY2025 versus 5.6B MYR in FY2021, a compound +3.1%/yr. Reported net income was 1.7B MYR in FY2025, compounding −3.5%/yr from FY2021.
Key figures
Market cap 34.5B MYR (≈ $8.5B) Mid · P/E ratio 20.3 · P/S ratio 5.49 · EPS (TTM) 0.8600 MYR · Dividend yield 4.1% · Net margin 27.1% · Return on equity 12.3% · Return on assets (EBIT) 11.7% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 75 out of 100 (low confidence).
What moves the price
The share trades about 5% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Energy peers we cover trades at −15% fair-value upside, at −37%, 6033 screens richer than that median.
Fair Value models
Bear7.22 MYRFair Value 11.02 MYRBull15.26 MYR
Price 17.42 MYR · Downside -36.7%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (0.1197 MYR per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−2.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+1.1%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+2.7%
Start year 2020 (pandemic). Over 10 years: +3.6% a year
Revenue growth 20 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.1%
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What shareholders gained per year (last 5 years), in MYR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in MYR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+1.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year−2.8%
Dividend (yield on the price)4.1%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−2.8% vs −0.6%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.48% → 31%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+21.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+1.6%
Yearly sales growth analysts expect, extended to five years.
After inflation (Malaysia: IMF forecast 2.0% a year to 2030, 1.8% from 2016 to 2025) that is about +19.0% a year for the price and −0.4% for the forecasts.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Oil & Gas Integrated · 43 stocks
Beats the industry median on 6/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score64 · Top 25%
Fair Value upside−36.7% · Below median
Profitability
Return on equity (12 months)12.3% · Below median
Return on assets8.7% · Top 25%
Net margin (12 months)27.1% · Top 25%
Operating margin (12 months)37.7% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)−5.6% · Bottom 25%
Dividend yield (12 months)4.1% · Above median
Balance sheet
Debt / equity0.08× · Lowest 25%
Valuation Multiplesvs Oil & Gas Integrated median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Petronas Gas Bhd Fair Value". https://www.fairvalue-calculator.com/stock/6033
Frequently asked questions
Is Petronas Gas Bhd (6033) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of 11.02 MYR versus a price of 17.42 MYR, about 37% lower (overvalued).
What is the fair value of 6033?
Our model-based fair value for Petronas Gas Bhd is 11.02 MYR (as of Nov 7, 2026), built from audited fundamentals. The current price: 17.42 MYR.
What is the quality score of 6033?
Petronas Gas Bhd has a Quality Score of 64/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Petronas Gas Bhd (6033)?
Our model-based price target is the fair value of 11.02 MYR (as of Nov 7, 2026) from 25 valuation models. Cautious scenario 7.22 MYR, optimistic scenario 15.26 MYR. It is a calculation from audited fundamentals, not an analyst target.
What is the Petronas Gas Bhd stock forecast for 2026?
Our models put fair value at 11.02 MYR, about 37% lower versus a price of 17.42 MYR (overvalued). Cautious scenario 7.22 MYR, optimistic scenario 15.26 MYR. The calculation is refreshed regularly with new filings.
What is the revenue of Petronas Gas Bhd (6033)?
Petronas Gas Bhd reported trailing-twelve-month revenue of about 6.3B MYR (latest available figure, as of Nov 7, 2026).
Does Petronas Gas Bhd pay a dividend?
Petronas Gas Bhd currently shows a dividend yield of 4.13% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Petronas Gas Bhd (6033) and when is the ex-dividend date?
Petronas Gas Bhd pays a dividend of 0.72 MYR per share a year, a dividend yield of 4.1%. The last ex-dividend date was Sep 11, 2026. A dividend has been paid every year since at least 1996. The payout ratio is 83.7% of earnings. Free cash flow covers the dividend 0.63 times. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What growth is priced into Petronas Gas Bhd (6033)?
For today's price to be fair in a discounted-cash-flow model, Petronas Gas Bhd would have to grow free cash flow by +21.4 % per year for five years (discount rate 9.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +2.7 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of 6033 use?
Our models discount Petronas Gas Bhd at 9.7 %: a base by market capitalisation (mid), damped by beta 0.00, country premium for Malaysia. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Petronas Gas Bhd that is +21.4 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.7 %) and the same formula as our fair value.
How much growth has Petronas Gas Bhd (6033) delivered so far?
Over the past 5 years revenue at Petronas Gas Bhd grew +2.7 % a year. The price currently implies free-cash-flow growth of +21.4 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Petronas Gas Bhd (6033) growing?
The median revenue growth in the sector is +4.5 % a year. That is the yardstick for the growth priced into Petronas Gas Bhd (+21.4 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Petronas Gas Bhd (6033)?
The free-cash-flow yield on the price is 2.59 %: that much free cash flow Petronas Gas Bhd produces per unit of market value. When it exceeds the discount rate of our models (9.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Petronas Gas Bhd (6033)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Petronas Gas Bhd it is 11.02 MYR per share (as of Nov 7, 2026), against a price of 17.42 MYR. It is the blended result of 25 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Petronas Gas Bhd stock overvalued or undervalued in 2026?
As of Nov 7, 2026, 6033 trades above its calculated fair value: price 17.42 MYR, fair value 11.02 MYR, a gap of about −37% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 6033?
No. The price is what the market pays today (17.42 MYR); the fair value is what the company's own numbers justify (11.02 MYR). For Petronas Gas Bhd the two are 6.40 MYR per share apart. That gap is exactly why we show both numbers side by side.
How much is Petronas Gas Bhd worth?
The market values Petronas Gas Bhd at about 34.5B MYR (market capitalisation, as of Nov 7, 2026). Per share that is 17.42 MYR; our models calculate a fair value of 11.02 MYR per share.
What do the bullish and bearish scenarios say about 6033?
Our models span a range for Petronas Gas Bhd: cautious scenario 7.22 MYR, base 11.02 MYR, optimistic 15.26 MYR per share (as of Nov 7, 2026, price 17.42 MYR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 6033?
Petronas Gas Bhd trades at a price-to-earnings ratio of 20.3 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 11.02 MYR is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings, FY2025 ex one-offs: 19.2. Other multiples: PEG 2.7, P/B 2.4, P/S 5.5, EV/EBITDA 9.9.
What is the PEG ratio of 6033?
The PEG ratio of Petronas Gas Bhd is 2.73 (P/E divided by earnings growth, as of Nov 7, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Petronas Gas Bhd (6033)?
Balance-sheet figures for Petronas Gas Bhd (as of Nov 7, 2026): return on equity 12.3%, debt of 0.08 per unit of equity. They feed the Quality Score of 64/100, which measures business quality independently of the share price.
How far is 6033 from its 52-week high?
Petronas Gas Bhd trades at 17.42 MYR, about 5% below its 52-week high of 18.40 MYR and 6% above the low of 16.48 MYR (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of 11.02 MYR is for.
Which stocks are comparable to Petronas Gas Bhd?
From the same area (Energy) we also value Saudi Arabian Oil Company, Exxon Mobil Corporation, Chevron Corporation, PetroChina Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Petronas Gas Bhd stock attractive at the current price?
The data as of Nov 7, 2026: price 17.42 MYR, calculated fair value 11.02 MYR (−37%), Quality Score 64/100, from 25 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 6033 calculated?
We run Petronas Gas Bhd through 25 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of 11.02 MYR builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. Petronas Gas Bhd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Petronas Gas Bhd (6033)?
The closing price on Nov 6, 2026 was 17.42 MYR. Our model-based fair value is 11.02 MYR, about 37% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Petronas Gas Bhd right now?
The price sits above even our optimistic bull case (15.26 MYR). The favourable scenario is already priced in. Solid but not exceptional quality (64/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (7.22 MYR to 15.26 MYR) leaves room in how you read the outcome.
Where does the earnings growth of Petronas Gas Bhd (6033) come from?
Earnings per share at Petronas Gas Bhd grew −0.4 % a year from 2014 to 2025. Broken into its drivers: revenue per share +4.2 %, EBIT margin −3.9 %, tax rate −1.0 %, residual (interest, one-offs) +0.4 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Petronas Gas Bhd
How large is the market capitalisation of Petronas Gas Bhd (6033)?
The market capitalisation of Petronas Gas Bhd is 34.5B MYR (≈ $8.5B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Petronas Gas Bhd (6033)?
The price-to-sales ratio of Petronas Gas Bhd is 5.49 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Petronas Gas Bhd (6033)?
Earnings per share at Petronas Gas Bhd are 0.8600 MYR (price ÷ EPS = P/E 20.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Petronas Gas Bhd (6033)?
The dividend yield of Petronas Gas Bhd is 4.1% (payout 83.7%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Petronas Gas Bhd (6033)?
The net margin of Petronas Gas Bhd is 27.1% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Petronas Gas Bhd (6033)?
The return on equity (ROE) of Petronas Gas Bhd is 12.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Petronas Gas Bhd (6033)?
On an EBIT basis the return on assets of Petronas Gas Bhd is 11.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Petronas Gas Bhd (6033)?
The operating margin of Petronas Gas Bhd is 37.7% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Petronas Gas Bhd (6033)?
Revenue at Petronas Gas Bhd is growing −5.6% versus a year earlier (3y avg +1.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Petronas Gas Bhd (6033)?
Earnings per share at Petronas Gas Bhd are growing +0.7% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Petronas Gas Bhd (6033) hold?
Petronas Gas Bhd holds more cash than debt, 74.1M MYR net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Broad data
Nov 7, 2026