Gaztransport et technigaz (GTT) AI Stock Analysis

• Market Cap: €7.17B
• Dividend Yield: 4.99%
• Average Volume (3M): 96.24K
• Price to Earnings (P/E): 14.0
• Beta (1Y): 0.41
• Revenue Growth: 35.00%
• EPS Growth: 24.05%
• Country: FR
• Employees: 738
• Sector: Energy
• Sector Strength: 52
• Industry: Oil & Gas Equipment & Services
• EPS (TTM): 6.37
• Shares Outstanding: 37,117,770
• 10 Day Avg. Volume: 95,322
• 30 Day Avg. Volume: 96,243
• PEG Ratio: 0.75
• Price to Book (P/B): 9.86
• Price to Sales (P/S): 7.23
• P/FCF Ratio: 14.75
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: €206.67
• Price Target Upside: 6.31% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): 11.28
• Revenue Forecast (FY): €768.93M

• Rating: 82 Outperform
• Price Target: €217.00 ▲(11.63% Upside)
• Action: Reiterated Date: 02/21/26
• Date: Action: Reiterated 02/21/26

Overall score is driven primarily by outstanding financial performance (high margins, improving cash conversion, and low leverage despite a 2025 debt step-up). Technicals are supportive but show overbought risk (RSI ~71), and valuation is solid with a ~4.21% yield alongside a moderate P/E.

Positive Factors

Exceptional profitability

Sustained net margins near 42%–54% reflect durable competitive advantages from proprietary membrane technology and a licensing-heavy model. High margins provide lasting cash generation, reinvestment capacity and a buffer versus cyclical revenue swings, supporting strategic initiatives.

Strong cash generation

Operating cash flow surpassing net income and robust free cash flow growth (approx. 14.4% in 2025) signal improving cash conversion. Persistent cash generation supports capex, licensing R&D and shareholder returns while providing resilience through industry cycles.

Conservative balance sheet

Even after a 2025 debt increase, leverage remains low and equity/assets have grown steadily. This conservative financing profile gives structural financial flexibility to fund growth, absorb shocks or pursue strategic partnerships without immediate refinancing pressure.

Negative Factors

Gross margin step-down

A 2025 gross margin decline from unusually elevated 2022–2024 levels reduces the margin cushion that supported exceptional net profits. If sustained, normalization would permanently lower free cash flow and limit funding for R&D, dividends or strategic investments.

Sharp 2025 debt increase

The pronounced rise in debt in 2025 creates a persistent liability layer to monitor. Even with current low leverage, higher debt increases interest and refinancing exposure over the medium term and could constrain capital allocation if cash generation weakens.

Concentrated LNG exposure

Heavy reliance on LNG shipyards, operators and licensing concentrates revenue on one sector. Structural shifts in LNG demand, shipbuilding cycles or client capex could cause durable revenue volatility and make growth dependent on industry recovery and project timing.

Gaztransport et technigaz Business Overview & Revenue Model

Company Description

Gaztransport & Technigaz SA, a technology and engineering company, provides cryogenic membrane containment systems for the maritime transportation and storage of liquefied gas and liquefied natural gas (LNG) in South Korea, China, Russia, and internationally. The company offers solutions, such as commercial vessel tanks, small and medium-capacity LNG carriers, bunker barges and vessels, and floating storage structures and bunkering stations for supplying LNG to merchant vessels other than LNG carriers; and LNG fuel storage solutions and related systems for the merchant vessels that use LNG as a marine fuel to replace the conventional fuel oils. It also provides membrane technology system for the bulk transportation and storage of LNG; and LNG Brick, a package for storage of gas for propulsion dedicated to ships requiring a small quantity of LNG. Further, it provides consultancy and engineering study, construction assistance, emergency response, training, and maintenance support services; and designs and assembles electrolysers for the production of green hydrogen, as well as offers smart shipping services; and digital services, such as in-depth data analytics. In addition, the company licenses its technologies to shipyards. The company serves shipyards, ship-owners, terminal operators, gas companies, and classification societies. Gaztransport & Technigaz SA was founded in 1963 and is headquartered in Saint-Rémy-lès-Chevreuse, France.

How the Company Makes Money

GTT generates revenue primarily through the sale of its engineering services and technologies to shipyards and operators in the LNG sector. The company earns money by providing technical assistance, design services, and licensing its proprietary membrane technologies for use in new ship constructions and retrofitting existing vessels. Key revenue streams include upfront fees for technology licensing, ongoing royalties based on the sales of LNG carriers using its systems, and consulting fees for engineering services. Additionally, GTT benefits from strategic partnerships with major shipbuilders and energy companies, which help secure contracts and expand its market reach. The growth of the global LNG market and increasing demand for cleaner energy sources also contribute to GTT's revenue potential.

Gaztransport et technigaz Financial Statement Overview

Summary

Very strong fundamentals driven by exceptional profitability (net margins ~42%–54%), solid recent growth acceleration (notably 2025 revenue up ~9.2%), and strong/free cash flow with improved cash conversion in 2024–2025. Key risks to monitor are the 2025 gross margin step-down versus prior elevated levels and the sharp 2025 debt increase (though leverage remains low overall).

Income Statement

Profitability is exceptionally strong, with consistently very high gross and operating margins and net margins staying around ~42%–54% over the period. Growth has accelerated meaningfully in the last two years (2024 and 2025), with revenue up ~0.5% in 2024 and ~9.2% in 2025 after prior years of modest volatility (including declines in 2021–2022). A key watch-out is margin normalization: gross margin stepped down in 2025 versus the unusually high 2022–2024 levels, even though overall profitability remains excellent.

Balance Sheet

The balance sheet is conservatively financed with very low leverage across the period; debt-to-equity remains low even after rising in 2025 (to ~0.22 from ~0.03 in 2024). Equity and total assets have grown steadily over time, supporting scale-up. The main risk signal is the sharp increase in debt in 2025 versus prior years, which bears monitoring even though leverage still looks manageable.

Cash Flow

Cash generation is strong and generally well aligned with earnings. Operating cash flow exceeds net income in 2024–2025 (cash conversion improved), and free cash flow is robust with strong growth in 2025 (~14.4%). A softer point is that cash conversion was weaker in some earlier years (operating cash flow below net income in 2022–2023), indicating periodic working-capital or timing swings, though this improved materially more recently.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	803.00M	641.39M	427.70M	307.29M	314.74M
Gross Profit	520.10M	586.61M	399.32M	293.77M	302.02M
EBITDA	550.80M	389.00M	243.40M	161.09M	172.15M
Net Income	413.60M	347.76M	201.37M	128.26M	134.07M
Balance Sheet
Total Assets	1.05B	814.79M	616.39M	484.44M	412.88M
Cash, Cash Equivalents and Short-Term Investments	346.90M	343.72M	267.66M	212.80M	203.80M
Total Debt	128.70M	15.98M	8.34M	4.05M	4.54M
Total Liabilities	456.10M	353.32M	280.05M	224.61M	164.65M
Stockholders Equity	588.20M	461.39M	336.30M	259.79M	248.23M
Cash Flow
Free Cash Flow	393.40M	361.46M	178.52M	118.92M	196.44M
Operating Cash Flow	433.70M	361.46M	221.65M	139.43M	212.50M
Investing Cash Flow	-244.80M	-68.47M	-44.09M	-9.02M	-16.04M
Financing Cash Flow	-184.80M	-217.35M	-115.86M	-121.95M	-134.62M

Gaztransport et technigaz Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 194.40
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:GTT, the sentiment is Positive. The current price of 194.4 is above the 20-day moving average (MA) of 184.52, above the 50-day MA of 174.82, and above the 200-day MA of 163.68, indicating a bullish trend. The MACD of 5.36 indicates Negative momentum. The RSI at 68.79 is Neutral, neither overbought nor oversold. The STOCH value of 90.14 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FR:GTT.

Gaztransport et technigaz Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GTT	82 Outperform	€7.17B	14.03	77.67%	4.99%	35.00%	24.05%
RUI	78 Outperform	€3.55B	4.25	14.24%	8.70%	-0.98%	20.09%
MAU	77 Outperform	€1.88B	2.74	21.70%	6.70%	-14.28%	-9.30%
EC	75 Outperform	€981.00M	11.20	4.13%	47.20%	-8.54%	47.48%
TTE	73 Outperform	€143.01B	10.74	12.75%	5.87%	-11.20%	-13.26%
TE	69 Neutral	€6.14B	15.94	―	2.64%	17.19%	11.76%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%