PETRONAS Gas Berhad (PNAGF) Fair Value & Analysis
Energy · US · Market cap $9.7B
PETRONAS Gas Berhad
PNAGF · US
Fair value as of: Jul 19, 2026
From 25 valuation models · updated 22 days ago
Fair value updated Jul 19, 2026, revised from $2.89 to $2.92 (+1.0%) since Jun 24, 2026.
A solid business, but screening 34% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case ($4.09). The favourable scenario is already priced in.
- Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range ($1.88 to $4.09) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year. As of Jul 19, 2026.
How to read this chart
60‑month range $2.43 – $5.05 · fair‑value band $1.88 – $4.09 · the $4.45 price screens above the $2.92 fair value. As of Jul 19, 2026.
Analysis
PETRONAS Gas Berhad (PNAGF) currently trades at $4.45, while our model-based Fair Value estimate is $2.92, implying the stock looks roughly 34.4% overvalued today. The Quality Score stands at 62/100 (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, PETRONAS Gas Berhad generated revenue of $6.4B at a net margin of 26.7%. Revenue declined 0.6% year over year. It earns a return on equity of 12.5%. The balance sheet holds a net cash position of $410M. Fundamentals as of Jul 19, 2026
Our scenario range runs from $1.88 (bear case) to $4.09 (bull case); at $4.45, the current price sits above 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 12% below its 52-week high and 27% above its 52-week low, currently below its 200-day average. For context, the median of 10 Energy peers we cover trades at -11% fair-value upside, at -34%, PNAGF screens richer 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.
All 25 models by family
Widest divergence: Multiples ($12.90) versus Asset-Based ($4.80). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 61 · Market factors (momentum, volatility) 77
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
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.
Full company description
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. 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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
PETRONAS Gas Berhad reported revenue of $6.4B in FY2025 versus $5.6B in FY2021, a compound +3.0%/yr. Reported net income was $1.7B in FY2025, compounding −3.5%/yr from FY2021.
PNAGF screens 34% overvalued. Compare with Saudi Arabian Oil Company →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Fresh Discoveries Push Petronas Closer to Suriname Mega Project
- Petronas Makes New Discoveries offshore Suriname
- Eni & PETRONAS Launch Searah as Southeast Asia's New Energy Company
Peer Group
Oil & Gas Integrated · 54 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.
Valuation Multiples vs Oil & Gas Integrated median · lower = cheaper
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 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
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 Integrated stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Saudi Arabian Oil Company 2222 | 26.72 SAR | 20.14 SAR | -25% |
| Exxon Mobil Corporation XOM | $144.51 | $90.37 | -37% |
| Chevron Corporation CHEV | C$22.88 | C$7.97 | -65% |
| PetroChina Company 601857 | ¥10.29 | ¥16.51 | +60% |
| Shell plc SHELL | €38.04 | €46.09 | +21% |
| TotalEnergies SE TTE | C$13.80 | C$7.92 | -43% |
| Petróleo Brasileiro S.A PETR3 | 12,540 ARS | 30,914 ARS | +147% |
| BP p.l.c., an integrated energy company, BP | $40.83 | $12.71 | -69% |
| China Petroleum & Chemical Corporation 600028 | ¥5.03 | ¥4.46 | -11% |
| Equinor ASA EQNR | $36.19 | $34.53 | -5% |
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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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