NG Energy International (TSE:GASX)
TSX:GASX
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NG Energy International
(TSX:GASX)
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Rating:44Neutral
Price Target:
C$1.50
▲(31.58% Upside)
Action:Upgraded
Date:04/03/26
The score is held down primarily by weak financial performance: ongoing losses, sharply higher leverage, and a return to significant free-cash-flow burn despite revenue growth. Technicals are only modestly supportive with neutral RSI and slightly positive MACD but weak short-term trend versus the 20-day average. Valuation is also penalized because negative earnings (negative P/E) reduce confidence in earnings-based pricing.
Positive Factors
Revenue scale-up
The company grew revenue materially from 2022 to 2025, demonstrating that production and sales are scaling. Durable top-line expansion supports longer-term cash generation potential, validates operating capability in Colombian gas markets, and provides a foundation for margin and profit improvement as scale continues.
Negative Factors
High leverage
Leverage increased sharply to roughly 4.2x debt-to-equity, leaving a thin equity cushion. Elevated debt raises refinancing and covenant risk, increases interest costs, and limits financial flexibility to fund development or absorb production/price shocks, making the capital structure a persistent medium-term vulnerability.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue scale-up
The company grew revenue materially from 2022 to 2025, demonstrating that production and sales are scaling. Durable top-line expansion supports longer-term cash generation potential, validates operating capability in Colombian gas markets, and provides a foundation for margin and profit improvement as scale continues.
Read all positive factors
NG Energy International (GASX) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$425.58M
Dividend YieldN/A
Average Volume (3M)252.19K
Price to Earnings (P/E)―
Beta (1Y)0.25
Revenue Growth22.31%
EPS GrowthN/A
CountryCA
Employees41
SectorGeneral
Sector StrengthN/A
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)-0.09
Shares Outstanding271,071,300
10 Day Avg. Volume68,272
30 Day Avg. Volume252,195
Financial Highlights & Ratios
PEG Ratio0.14
Price to Book (P/B)9.50
Price to Sales (P/S)4.72
P/FCF Ratio-9.17
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.05
Revenue Forecast (FY)C$91.50M
NG Energy International Business Overview & Revenue Model
Company Description
NG Energy International Corp. engages in the acquisition, exploration, development, and exploitation of oil and natural gas assets in Colombia. It holds working interests in the Sinú-9 block, which covers an area of approximately 311,353 acres; th...
How the Company Makes Money
NG Energy International makes money primarily by selling produced natural gas from its Colombian assets to customers under gas sales arrangements. Revenue is generated based on the volumes of gas delivered and the contracted or realized sales pric...
NG Energy International Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
22
Negative
Cash Flow
28
Negative
| Breakdown | Dec 2025 | Mar 2025 | Mar 2024 | Jun 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 44.61M | 38.21M | 12.04M | 1.77M | 0.00 |
| Gross Profit | 21.19M | 22.33M | 4.54M | 430.47K | -6.77K |
| EBITDA | -5.62M | 5.19M | -423.00K | -7.01M | -5.28M |
| Net Income | -24.08M | -53.70M | -16.68M | -9.97M | -7.32M |
Balance Sheet | |||||
| Total Assets | 240.32M | 113.47M | 106.86M | 83.15M | 23.15M |
| Cash, Cash Equivalents and Short-Term Investments | 6.85M | 8.19M | 1.29M | 6.96M | 5.85M |
| Total Debt | 93.27M | 40.63M | 82.18M | 55.43M | 2.99M |
| Total Liabilities | 218.15M | 68.65M | 96.77M | 67.64M | 6.41M |
| Stockholders Equity | 22.16M | 44.82M | 10.09M | 15.51M | 16.73M |
Cash Flow | |||||
| Free Cash Flow | -22.95M | -287.33K | -22.47M | -34.23M | -10.73M |
| Operating Cash Flow | 3.35M | 18.47M | -3.55M | -3.59M | -5.24M |
| Investing Cash Flow | 27.60M | -23.60M | -23.79M | -28.31M | -5.93M |
| Financing Cash Flow | -33.00M | 12.58M | 21.39M | 33.56M | 15.92M |
NG Energy International Technical Analysis
Neutral
1.14
Price Trends
1.57
Positive
1.40
Positive
1.21
Positive
Market Momentum
0.03
Positive
49.23
Neutral
32.03
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:GASX, the sentiment is Neutral. The current price of 1.14 is below the 20-day moving average (MA) of 1.63, below the 50-day MA of 1.57, and below the 200-day MA of 1.21, indicating a neutral trend. The MACD of 0.03 indicates Positive momentum. The RSI at 49.23 is Neutral, neither overbought nor oversold. The STOCH value of 32.03 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for TSE:GASX.
NG Energy International Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | C$308.55M | 8.09 | 25.87% | 8.44% | 27.04% | 39.61% | |
70 Outperform | C$412.31M | -15.72 | 3.55% | ― | -2.78% | 29.00% | |
59 Neutral | C$485.47M | 27.41 | -2.71% | ― | 29.68% | 89.77% | |
58 Neutral | C$262.42M | -4.87 | -0.27% | 6.19% | 8.02% | -80.95% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | C$354.93M | -64.59 | -6.08% | ― | ― | -27.27% | |
44 Neutral | C$425.58M | -8.74 | -81.43% | ― | 22.31% | ― |
* General Sector Average
TSE:GASX
NG Energy International
1.59
0.63
65.63%
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NG Energy International Corporate Events
Business Operations and StrategyDelistings and Listing ChangesFinancial DisclosuresM&A TransactionsPrivate Placements and Financing
NG Energy posts record 2025 gas sales, trims debt and advances Colombian growth plans
Positive
Mar 30, 2026
NG Energy International reported record 2025 natural gas and NGL sales of US$44.6 million, driven by dual-field production after the Sinú-9 block began commercial output in late March. Combined gross average daily production reached a record ...
Business Operations and StrategyFinancial Disclosures
NG Energy boosts Colombian gas reserves and kicks off new drilling at Sinu-9
Positive
Feb 23, 2026
NG Energy International reported substantial growth in its Colombian natural gas reserves and resources for year-end 2025, with the net present value of its proved reserves rising 67% and similar double-digit gains across 2P, 3P, contingent and pr...
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.