Transportadora De Gas Sa Ord B (TGS)
NYSE:TGS
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Transportadora De Gas Sa Ord B
(NYSE:TGS)
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Rating:69Neutral
Price Target:
$39.00
▲(27.49% Upside)
Action:ReiteratedDate:03/17/26
The score is primarily driven by improved recent operating performance but moderated by higher leverage and weaker/less consistent free-cash-flow conversion. Technicals are supportive with price above key moving averages, while valuation is attractive on a low P/E and moderate yield. Earnings-call commentary adds caution due to near-term profitability headwinds, higher interest costs, and no expected 2026 dividend despite solid project progress.
Positive Factors
Regulated pipeline cash flows
TGS’s core regulated pipeline business produces recurring tariff‑based revenues tied to contracted capacity and transmission services. That asset-backed, essential infrastructure generates predictable cash flow streams and high barriers to entry, supporting durable midterm revenue stability.
Negative Factors
Rising leverage
A large rise in indebtedness in 2025 raises interest burden and reduces financial flexibility as the company scales CAPEX. Higher leverage amplifies downside risk if volumes or prices weaken, constraining ability to absorb shocks or return cash to shareholders over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulated pipeline cash flows
TGS’s core regulated pipeline business produces recurring tariff‑based revenues tied to contracted capacity and transmission services. That asset-backed, essential infrastructure generates predictable cash flow streams and high barriers to entry, supporting durable midterm revenue stability.
Read all positive factors
Transportadora De Gas Sa Ord B (TGS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.84B
Dividend Yield2.97%
Average Volume (3M)367.42K
Price to Earnings (P/E)11.5
Beta (1Y)0.13
Revenue Growth8.97%
EPS Growth-12.16%
CountryUS
Employees1,147
SectorEnergy
Sector Strength52
IndustryOil & Gas Integrated
Share Statistics
EPS (TTM)2697.05
Shares Outstanding69,513,695
10 Day Avg. Volume355,228
30 Day Avg. Volume367,415
Financial Highlights & Ratios
PEG Ratio0.43
Price to Book (P/B)2.17
Price to Sales (P/S)3.42
P/FCF Ratio25.21
Enterprise Value/Market Cap1.55K
Enterprise Value/Revenue4.55
Enterprise Value/Gross Profit8.46
Enterprise Value/Ebitda8.44
Forecast
1Y Price Target
$46.00Price Target Upside50.38% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)2.61
Revenue Forecast (FY)$1.37B
Transportadora De Gas Sa Ord B Business Overview & Revenue Model
Company Description
Transportadora de Gas del Sur S.A. engages in transportation of natural gas, production, and commercialization of natural gas liquids in Argentina. The company operates through four segments: Natural Gas Transportation Services; Liquids Production...
How the Company Makes Money
TGS primarily makes money through two main business lines. (1) Natural gas transportation: TGS earns revenue by providing regulated natural gas pipeline transportation services, charging tariffs for firm and interruptible capacity and for moving g...
Transportadora De Gas Sa Ord B Earnings Call Summary
Earnings Call Date:Feb 27, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Aug 11, 2026
Earnings Call Sentiment Neutral
The call presented a mixed picture: strong strategic progress and financing (oversubscribed bond, cash build-up, advancing Perito Moreno expansion and NGL project toward FID, and a 36% increase in midstream EBITDA) counterbalanced by notable near-term financial pressures (Q4 net income down ~27%, liquids EBITDA down ~18%, weak export prices, higher interest costs and negative financial results). Execution milestones and strengthened liquidity support medium-term growth, but recent earnings and price headwinds weigh on short-term performance.Positive Updates
Successful Bond Issuance and Strong Demand
Issued a new 10-year bond in November (referenced as ARS 500 million / $500 million in the call) at 8% yield; transaction was oversubscribed with a total order book of $1.3 billion, providing funding for expansion projects.
Negative Updates
Decline in Reported Net Income
Total net income in Q4 2025 was ARS 124 billion versus ARS 170.5 billion in Q4 2024, a decline of ARS 46.5 billion (approximately -27.3% YoY).
Read all updates
Q4-2025 Updates
Positive
Negative
Successful Bond Issuance and Strong Demand
Issued a new 10-year bond in November (referenced as ARS 500 million / $500 million in the call) at 8% yield; transaction was oversubscribed with a total order book of $1.3 billion, providing funding for expansion projects.
Read all positive updates
Company Guidance
The company guided that the NGL project is on track for a final investment decision before June (likely May) with estimated project CAPEX of about $2.9 billion and around $1 billion of project finance being sought, while the Perito Moreno/regulated pipeline expansion will add 14 million m3/day (plus a final tranche of ~12 million m3/day) funded largely from proceeds of the November bond (reported as $500M/ARS500M, 10‑year at 8%) and ~$67M of bank loans; Perito Moreno CAPEX is ~ $780M (≈ $100M in 2025, >$500M in 2026, remainder in 2027), three new compressor stations expected in service by May‑2027, an open season launched Feb 9 with bids for the 40% prepaid capacity due Mar 16 and remaining capacity to be tendered after ENARSA reallocates 21 million m3/day (currently assigned to CAMMESA), management expects sufficient gas supply for the NGL project, plans CAPEX >$600M in 2026 (> $500M expansion + ~$100M maintenance), and does not currently anticipate dividend payments in 2026.Transportadora De Gas Sa Ord B Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
62
Positive
Cash Flow
57
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.99T | 1.21T | 967.50B | 1.08T | 526.69B |
| Gross Profit | 1.06T | 631.37B | 347.43B | 427.73B | 237.57B |
| EBITDA | 1.10T | 767.48B | 280.66B | 513.69B | 289.63B |
| Net Income | 490.32B | 370.16B | 51.21B | 219.16B | 126.97B |
Balance Sheet | |||||
| Total Assets | 5.41T | 3.39T | 3.32T | 1.28T | 405.52B |
| Cash, Cash Equivalents and Short-Term Investments | 1.81T | 796.54B | 717.45B | 131.66B | 34.48B |
| Total Debt | 1.67T | 528.15B | 918.21B | 288.97B | 102.42B |
| Total Liabilities | 2.29T | 1.16T | 1.46T | 451.13B | 170.61B |
| Stockholders Equity | 3.13T | 2.23T | 1.86T | 832.16B | 234.91B |
Cash Flow | |||||
| Free Cash Flow | 269.36B | 194.36B | 118.66B | 68.54B | 125.28B |
| Operating Cash Flow | 642.72B | 484.17B | 412.82B | 240.15B | 183.80B |
| Investing Cash Flow | -529.51B | -384.90B | -449.53B | -272.72B | -183.70B |
| Financing Cash Flow | 762.75B | -31.35B | 53.68B | 24.59B | -5.82B |
Transportadora De Gas Sa Ord B Technical Analysis
Negative
30.59
Price Trends
31.38
Negative
31.11
Negative
28.55
Positive
Market Momentum
-0.07
Positive
37.56
Neutral
13.56
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TGS, the sentiment is Negative. The current price of 30.59 is below the 20-day moving average (MA) of 33.36, below the 50-day MA of 31.38, and above the 200-day MA of 28.55, indicating a neutral trend. The MACD of -0.07 indicates Positive momentum. The RSI at 37.56 is Neutral, neither overbought nor oversold. The STOCH value of 13.56 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TGS.
Transportadora De Gas Sa Ord B Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | $4.84B | 11.55 | 14.77% | 2.97% | 8.97% | -12.16% | |
69 Neutral | $7.89B | 9.01 | 21.09% | 2.57% | 26.21% | 1517.69% | |
67 Neutral | $28.87B | 12.89 | 11.20% | 18.88% | -7.38% | -39.57% | |
66 Neutral | $102.85B | 11.30 | 3.44% | 7.43% | 3.95% | -38.27% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
65 Neutral | $81.67B | 16.84 | 5.25% | 5.41% | -3.06% | 9.20% | |
57 Neutral | $18.64B | -5.41 | -2.22% | ― | -4.12% | -132.96% |
* Energy Sector Average
TGS
Transportadora De Gas Sa Ord B
30.00
4.86
19.36%
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EQNR
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Transportadora De Gas Sa Ord B Corporate Events
Transportadora de Gas del Sur Files 2025 Annual Report With U.S. Regulators
Mar 25, 2026
On March 25, 2026, Transportadora de Gas del Sur S.A. filed a Form 6-K in the United States to furnish its annual report and consolidated financial statements for the year ended December 31, 2025. The filing includes audited consolidated statement...
Transportadora de Gas del Sur Posts Lower Q4 2025 Profit but Secures Record 10-Year Bond
Feb 27, 2026
On February 27, 2026, Transportadora de Gas del Sur reported fourth-quarter 2025 comprehensive income of ARS 123,982 million, down from ARS 170,513 million a year earlier, as operating profit fell to ARS 207,192 million amid the absence of a large...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.