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PT Citra Nusantara Gemilang Tbk, an energy company, (CGAS) Fair Value & Analysis

Energy · ID · Market cap 257B IDR

PC PT Citra Nusantara Gemilang Tbk, an energy company, CGAS · JK
Price153.00 IDR
Fair Value136.41 IDR
Upside-10.8%
Quality53/100
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Expensive Growth
Thin margins · 2.7% net margin
Low debt · negative free cash flow
Mixed vs. peers (7/13)
Narrow moat 35/100
Evidence: High Range 102.31 IDR – 170.51 IDR Share as image

Fair value as of: Jul 11, 2026

From 15 valuation models · updated 30 days ago

Fair value updated Jul 11, 2026, revised from 91.16 IDR to 136.41 IDR (+49.6%) since Jun 24, 2026. Share price +5.5% over the past month.

A solid business, but screening 11% overvalued on our models.

What matters now

  • Our model range runs from 102.31 IDR (bear) to 170.51 IDR (bull), base 136.41 IDR. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 53/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (3 years)

869.67 IDR 72.75 IDR Fair Value 136.41 IDR Jan 2024 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 11, 2026.

How to read this chart

31‑month range 72.75 IDR – 869.67 IDR · fair‑value band 102.31 IDR – 170.51 IDR · the 153.00 IDR price screens above the 136.41 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 11, 2026.

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Analysis

PT Citra Nusantara Gemilang Tbk, an energy company, (CGAS) currently trades at 153.00 IDR, while our model-based Fair Value estimate is 136.41 IDR, implying the stock looks roughly 10.8% overvalued today. The Quality Score stands at 53/100 (solid quality), in the Energy sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, PT Citra Nusantara Gemilang Tbk, an energy company, generated revenue of 650B IDR at a net margin of 2.7%. Revenue grew 28.1% year over year. It earns a return on equity of 7.1%. The balance sheet holds a net cash position of 16.2B IDR. Fundamentals as of Jul 11, 2026

Our scenario range runs from 102.31 IDR (bear case) to 170.51 IDR (bull case); at 153.00 IDR, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 35% below its 52-week high and 80% above its 52-week low, currently below its 200-day average. For context, the median of 10 Energy peers we cover trades at -48% fair-value upside, at -11%, CGAS screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model 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. Evidence
Highest evidence
Residual Income 117.62 IDR 120.68 IDR 120.47 IDR 76
ROIC Compounder 113.81 IDR 129.65 IDR 143.73 IDR 72
Gordon GGM 26.26 IDR 57.34 IDR 96.48 IDR 70
All 15 models by family
Earnings-Based
Graham-Dodd 54.56 IDR 326.54 IDR 455.06 IDR 54
Lynch FV 93.02 IDR 132.88 IDR 172.74 IDR 50
PEG = 1.0 93.02 IDR 132.88 IDR 172.74 IDR 46
EPV 113.81 IDR 129.65 IDR 143.73 IDR 59
Dividend Discount
Gordon GGM 26.26 IDR 57.34 IDR 96.48 IDR 70
DDM Multi-Stage 26.26 IDR 46.97 IDR 59.76 IDR 61
Multiples
P/E Multiple 84.25 IDR 112.34 IDR 140.42 IDR 63
P/S Multiple 102.31 IDR 136.41 IDR 170.51 IDR 58
P/B Multiple 102.31 IDR 136.41 IDR 170.51 IDR 55
EV/EBIT 117.58 IDR 148.76 IDR 179.95 IDR 53
EV/Revenue 137.53 IDR 186.18 IDR 234.83 IDR 43
Asset-Based
NCAV (Graham) 74.65 IDR 100.04 IDR 149.31 IDR 50
Economic Profit
Residual Income 117.62 IDR 120.68 IDR 120.47 IDR 76
ROIC Compounder 113.81 IDR 129.65 IDR 143.73 IDR 72
Growth Earnings
Growth-Adj P/E 114.43 IDR 163.46 IDR 212.50 IDR 68

Widest divergence: Growth Earnings (163.46 IDR) versus Dividend Discount (46.97 IDR). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 650B IDR
Revenue growth (YoY) +28.1%
Net margin 2.7%
Return on equity 7.1%
Free cash flow −23.3B IDR FY2026
P/E ratio 14.1
More key figures
Operating margin 5.2%
EPS (TTM) 10.02 IDR
EPS growth (YoY) +250%
Net cash 16.2B IDR FY2026

Figures from reported company fundamentals · as of Jul 11, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 53/100

Of which business quality 54 · Market factors (momentum, volatility) 49

Profitability 47
Margins and returns on capital today
Quality Growth 72
Are margins and returns improving?
Cashflow 12
Earnings quality: real cash, not paper profit
Fin. Strength 79
Balance sheet, leverage, solvency risk
Investment 26
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 42
Price trend over the last 3–12 months (market factor)
52W Momentum 60
Distance to the 52-week high (market factor)
Net Issuance 90
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

PT Citra Nusantara Gemilang Tbk, an energy company, engages in the trading and distribution of natural gas in the form of compressed natural gas (CNG) to the industrial, retail, and transportation sectors in Indonesia.

Full company description

PT Citra Nusantara Gemilang Tbk, an energy company, engages in the trading and distribution of natural gas in the form of compressed natural gas (CNG) to the industrial, retail, and transportation sectors in Indonesia. The company is also involved in the trading, sale, and installation of gas equipment; engineering, procurement, and construction of CNG stations; vehicle conversion and maintenance; construction, operation, and maintenance of independent power plants; and operation and maintenance of CNG plants. It offers its products under the GASRA brand. PT Citra Nusantara Gemilang Tbk was founded in 2005 and is headquartered in Bekasi, Indonesia.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

PT Citra Nusantara Gemilang Tbk, an energy company, reported revenue of 612B IDR in FY2026 versus 388B IDR in FY2022, a compound +12.1%/yr. Reported net income was 14.2B IDR in FY2026, compounding +47.7%/yr from FY2022.

Growth Quality 49/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
612B IDR
Latest YoY
+20.3%
Avg. growth/yr (3Y) 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.
+13.0%
Avg. growth/yr (5Y) 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.
+10.1%
Revenue +12.1%/yr
FY22 388B IDR
FY23 424B IDR
FY24 378B IDR
FY25 508B IDR
FY26 612B IDR
Net income +47.7%/yr
FY22 3.0B IDR
FY23 11.3B IDR
FY24 8.1B IDR
FY25 9.4B IDR
FY26 14.2B IDR

CGAS screens 11% overvalued. Compare with Reliance Industries Limited →

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Cite: Fair Value Calculator (2026). "PT Citra Nusantara Gemilang Tbk, an energy company, Fair Value". https://www.fairvalue-calculator.com/stock/CGAS

Peer Group

Oil & Gas Refining & Marketing · 114 stocks

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.

Quality Score 53 · Below median
Fair Value upside −11% · Above median
Return on equity (TTM) 7% · Below median
Return on assets 4% · Above median
Net margin (TTM) 3% · Above median
Operating margin (TTM) 5% · Below median
Revenue growth 28% · Top 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.05× · Lower than median

Valuation Multiples vs Oil & Gas Refining & Marketing median · lower = cheaper

P/E (TTM) 14.5× · Pricier than median
P/B 0.97× · Cheaper than median
P/S (TTM) 0.40× · Pricier than median
EV/EBITDA 4.8× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 19 · sector 15
FUTURE 100 · sector 15
PAST 28 · sector 32
HEALTH 98 · sector 80
DIVIDEND 0 · sector 50

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Oil & gas

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Oil & Gas Refining & Marketing stocks, each showing price versus our Fair Value estimate (as of Jul 11, 2026).

Stock Price Fair Value vs Fair Value
Reliance Industries Limited RELIANCE ₹1,293 ₹835.66 -35%
Valero Energy Corporation VLO $309.65 $127.32 -59%
Marathon Petroleum Corporation MPC $283.74 $135.80 -52%
Phillips 66 PSX $196.16 $101.04 -48%
Neste Oyj NESTE €31.10 €4.07 -87%
Formosa Petrochemical Corporation 6505 81.30 TWD 16.68 TWD -79%
Indian Oil Corporation IOC ₹138.96 ₹417.35 +200%
HF Sinclair Corporation DINO $88.59 $48.90 -45%
Bharat Petroleum Corporation BPCL ₹315.55 ₹846.81 +168%
SK Innovation Co 096770 121,400 KRW 58,865 KRW -52%

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Frequently asked questions

Is PT Citra Nusantara Gemilang Tbk, an energy company, (CGAS) overvalued or undervalued?
As of Jul 11, 2026, our model estimates a fair value of 136.41 IDR versus a price of 153.00 IDR, about −11% (overvalued).
What is the fair value of CGAS?
Our model-based fair value for PT Citra Nusantara Gemilang Tbk, an energy company, is 136.41 IDR (as of Jul 11, 2026), built from audited fundamentals. The current price is 153.00 IDR.
What is the quality score of CGAS?
PT Citra Nusantara Gemilang Tbk, an energy company, has a Quality Score of 53/100. 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 revenue of PT Citra Nusantara Gemilang Tbk, an energy company, (CGAS)?
PT Citra Nusantara Gemilang Tbk, an energy company, reported trailing-twelve-month revenue of about 650B IDR (latest available figure, as of Jul 11, 2026).
What is the net profit margin of CGAS?
The net profit margin of PT Citra Nusantara Gemilang Tbk, an energy company, is about 2.7%, meaning it keeps roughly 2.7% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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