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TGS Valuation Multiples

Discover revenue and EBITDA valuation multiples for TGS and similar public comparables like SBM Offshore, Fugro, and Dana Gas.

TGS Overview

About TGS

TGS ASA provides data, intelligence, ocean bottom node (OBN) acquisition services, processing, analytics, cloud-based data applications, and other specialized services and solutions to energy companies across the energy spectrum, whether it is oil and gas, carbon capture and storage, or wind development. Its reportable segments are divided into six overall business units: Contract, Multi-client, New Energy Solutions (NES), Imaging, Shared Services. It generates the majority of its revenue from Multi-client sales.


Founded

1996

HQ

Norway
Employees

1.8K+

Website

tgs.com

Financials

LTM Revenue $15.9B

LTM EBITDA $9.6B

EV

$2.3B

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TGS Financials

TGS has a last 12-month revenue (LTM) of $15.9B and a last 12-month EBITDA of $9.6B.

In the most recent fiscal year, TGS achieved revenue of $129M and an EBITDA of $66.6M.

TGS expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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TGS P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $15.9B XXX $129M XXX XXX XXX
Gross Profit $10.3B XXX $49.0M XXX XXX XXX
Gross Margin 65% XXX 38% XXX XXX XXX
EBITDA $9.6B XXX $66.6M XXX XXX XXX
EBITDA Margin 60% XXX 52% XXX XXX XXX
EBIT $3.0B XXX $19.6M XXX XXX XXX
EBIT Margin 19% XXX 15% XXX XXX XXX
Net Profit $1.7B XXX $9.2M XXX XXX XXX
Net Margin 11% XXX 7% XXX XXX XXX
Net Debt XXX XXX $59.1M XXX XXX XXX

Financial data powered by Morningstar, Inc.

TGS Stock Performance

As of May 30, 2025, TGS's stock price is NOK 84 (or $8).

TGS has current market cap of NOK 16.5B (or $1.6B), and EV of NOK 23.2B (or $2.3B).

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TGS Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$2.3B $1.6B XXX XXX XXX XXX $0.70

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TGS Valuation Multiples

As of May 30, 2025, TGS has market cap of $1.6B and EV of $2.3B.

TGS's trades at 17.6x EV/Revenue multiple, and 34.0x EV/EBITDA.

Equity research analysts estimate TGS's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

TGS has a P/E ratio of 9.6x.

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TGS Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $1.6B XXX $1.6B XXX XXX XXX
EV (current) $2.3B XXX $2.3B XXX XXX XXX
EV/Revenue 1.5x XXX 17.6x XXX XXX XXX
EV/EBITDA 2.4x XXX 34.0x XXX XXX XXX
EV/EBIT 7.8x XXX 115.9x XXX XXX XXX
EV/Gross Profit 2.3x XXX n/a XXX XXX XXX
P/E 9.6x XXX 175.0x XXX XXX XXX
EV/FCF 10.6x XXX 120.1x XXX XXX XXX

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TGS Margins & Growth Rates

TGS's last 12 month revenue growth is 12%

TGS's revenue per employee in the last FY averaged $0.1M, while opex per employee averaged $16K for the same period.

TGS's rule of 40 is 61% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

TGS's rule of X is 89% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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TGS Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 12% XXX 268% XXX XXX XXX
EBITDA Margin 60% XXX 52% XXX XXX XXX
EBITDA Growth 6% XXX 406% XXX XXX XXX
Rule of 40 61% XXX 63% XXX XXX XXX
Bessemer Rule of X XXX XXX 89% XXX XXX XXX
Revenue per Employee XXX XXX $0.1M XXX XXX XXX
Opex per Employee XXX XXX $16K XXX XXX XXX
S&M Expenses to Revenue XXX XXX n/a XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX n/a XXX XXX XXX
Opex to Revenue XXX XXX 23% XXX XXX XXX

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TGS Public Comps

See public comps and valuation multiples for Fossil Fuels and Energy Services comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
ADNOC Drilling Company XXX XXX XXX XXX XXX XXX
ADNOC Gas XXX XXX XXX XXX XXX XXX
Dana Gas XXX XXX XXX XXX XXX XXX
Fugro XXX XXX XXX XXX XXX XXX
SBM Offshore XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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TGS M&A and Investment Activity

TGS acquired  XXX companies to date.

Last acquisition by TGS was  XXXXXXXX, XXXXX XXXXX XXXXXX . TGS acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by TGS

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About TGS

When was TGS founded? TGS was founded in 1996.
Where is TGS headquartered? TGS is headquartered in Norway.
How many employees does TGS have? As of today, TGS has 1.8K+ employees.
Who is the CEO of TGS? TGS's CEO is Mr. Kristian K. Johansen.
Is TGS publicy listed? Yes, TGS is a public company listed on OSL.
What is the stock symbol of TGS? TGS trades under TGS ticker.
When did TGS go public? TGS went public in 1997.
Who are competitors of TGS? Similar companies to TGS include e.g. ADNOC Drilling Company, ADNOC Gas, Dana Gas, Fugro.
What is the current market cap of TGS? TGS's current market cap is $1.6B
What is the current revenue of TGS? TGS's last 12 months revenue is $15.9B.
What is the current revenue growth of TGS? TGS revenue growth (NTM/LTM) is 12%.
What is the current EV/Revenue multiple of TGS? Current revenue multiple of TGS is 1.5x.
Is TGS profitable? Yes, TGS is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of TGS? TGS's last 12 months EBITDA is $9.6B.
What is TGS's EBITDA margin? TGS's last 12 months EBITDA margin is 60%.
What is the current EV/EBITDA multiple of TGS? Current EBITDA multiple of TGS is 2.4x.
What is the current FCF of TGS? TGS's last 12 months FCF is $2.2B.
What is TGS's FCF margin? TGS's last 12 months FCF margin is 14%.
What is the current EV/FCF multiple of TGS? Current FCF multiple of TGS is 10.6x.

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