TGS ASA (TGSGY) Fair Value & Analysis
Energy · US · Market cap $2.8B
TGS ASA
TGSGY · US
Fair value as of: Jul 19, 2026
From 24 valuation models · updated 22 days ago
Fair value updated Jul 19, 2026, revised from $7.10 to $4.97 (−30.0%) since Jun 24, 2026. Share price +4.5% over the past month.
Below-average quality, and screening another 64% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case ($6.82). The favourable scenario is already priced in.
- Weak quality (37/100) and above fair value at the same time, the margin of safety is missing on both counts.
- The model range is unusually wide ($2.00 to $6.82). The outcome hinges heavily on assumptions, so read the point estimate with caution.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.
How to read this chart
60‑month range $6.31 – $28.90 · fair‑value band $2.00 – $6.82 · the $13.88 price screens above the $4.97 fair value. Dashed = 300-day average. As of Jul 19, 2026.
Analysis
TGS ASA (TGSGY) currently trades at $13.88, while our model-based Fair Value estimate is $4.97, implying the stock looks roughly 64.2% overvalued today. The Quality Score stands at 37/100 (below-average 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, TGS ASA generated revenue of $1.3B at a net margin of -0.2%. Revenue declined 42.2% year over year. It earns a return on equity of -0.1%. Net debt stands at $438M. Fundamentals as of Jul 19, 2026
Our scenario range runs from $2.00 (bear case) to $6.82 (bull case); at $13.88, 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 18% below its 52-week high and 104% above its 52-week low, currently above its 200-day average. For context, the median of 10 Energy peers we cover trades at -36% fair-value upside, at -64%, TGSGY 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 24 models by family
Widest divergence: DCF Models ($20.80) versus Earnings-Based ($1.11). 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 41 · Market factors (momentum, volatility) 75
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
TGS ASA provides geoscience data services to the oil and gas industry in Norway and internationally. It operates through Multi client, Marine Data Acquisition (MDA), Imaging, New Energy Solutions (NES), and Shared Services segments.
Full company description
TGS ASA provides geoscience data services to the oil and gas industry in Norway and internationally. It operates through Multi client, Marine Data Acquisition (MDA), Imaging, New Energy Solutions (NES), and Shared Services segments. The company offers seismic data using robust technology and imaging solutions; well data recorded expertly matched and validated, from permit to abandonment; carbon storage and monitoring solutions; wind energy data partner throughout the wind development lifecycle; solar operations; and asset management services. It also offers applications for oil and gas, new energies, data platforms, and ai/machine learning. TGS ASA has a agreement with Ministry of Hydrocarbon and Mining Development of the Republic of Equatorial Guinea to create an offshore MegaSurvey. The company was formerly known as TGS-NOPEC Geophysical Company ASA and changed its name to TGS ASA in June 2021. TGS ASA was founded in 1981 and is headquartered in Oslo, Norway.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
TGS ASA reported revenue of $1.5B in FY2025 versus $519M in FY2021, a compound +31.0%/yr. Reported net income was $18.3M in FY2025.
TGSGY screens 64% overvalued. Compare with SLB N.V →
Peer Group
Oil & Gas Equipment & Services · 191 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 Equipment & Services 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 Equipment & Services stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| SLB N.V SLBN | 836.00 MXN | 533.97 MXN | -36% |
| Baker Hughes Company BKR | $55.95 | $33.55 | -40% |
| TechnipFMC plc FTI | $74.57 | $27.57 | -63% |
| Halliburton Company HAL | $35.22 | $21.50 | -39% |
| Tenaris S.A TS | $57.16 | $45.68 | -20% |
| Yantai Jereh Oilfield Services Group 002353 | ¥138.79 | ¥34.17 | -75% |
| Saipem SpA SPM | €4.20 | €2.72 | -35% |
| Subsea 7 S.A SUBC | kr 319.00 | kr 227.98 | -29% |
| China Oilfield Services Limited 601808 | ¥12.08 | ¥12.64 | +5% |
| Gaztransport & Technigaz SA GTT | €188.10 | €95.01 | -49% |
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Frequently asked questions
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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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