NG Energy International (GASX) AI Stock Analysis

• Market Cap: C$301.48M
• Dividend Yield: N/A
• Average Volume (3M): 252.19K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.39
• Revenue Growth: 5.13%
• EPS Growth: 61.58%
• Country: CA
• Employees: 41
• Sector: General
• Sector Strength: N/A
• Industry: Oil & Gas Exploration & Production
• EPS (TTM): -0.04
• Shares Outstanding: 262,156,950
• 10 Day Avg. Volume: 68,272
• 30 Day Avg. Volume: 252,195
• PEG Ratio: -0.03
• Price to Book (P/B): 3.65
• Price to Sales (P/S): 4.28
• P/FCF Ratio: -568.63
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 40 Underperform
• Price Target: C$1.00 ▼(-12.28% Downside)

NG Energy International's overall stock score is primarily impacted by its financial instability and weak technical indicators. The negative valuation metrics further contribute to a low score, reflecting significant risks for investors.

Positive Factors

Revenue Growth

Sustained TTM top-line growth of ~14% indicates the company is expanding gas sales and market penetration. Over a 2–6 month horizon this supports capacity to fund operations or targeted investments, and signals real demand traction in its producing assets.

Gross Margin Strength

A gross profit margin near 52% shows the core extraction and sales economics are healthy, giving the company structural unit profitability before overhead. This margin buffer helps absorb commodity swings and supports longer-term margin recovery if operating costs are controlled.

Contracted Sales & Infrastructure Partnerships

A business model centered on long-term supply agreements, regional partnerships and infrastructure investment reduces offtake and execution risk. These structural ties improve revenue predictability, lower commercialization risk, and support longer-term project economics.

Negative Factors

High Leverage

A debt/equity ratio near 2.8 reflects heavy leverage that materially limits financial flexibility. Overcoming cyclical gas prices or funding capex will likely require refinancing or additional capital, increasing solvency risk and constraining strategic optionality over the medium term.

Weak Cash Generation

Negative free cash flow and an OCFO-to-net-income ratio of 0.06 indicate poor cash conversion. This persistent cash weakness undermines the firm's ability to service debt, fund maintenance capex, or invest in growth without external financing, raising structural liquidity risk.

Ongoing Negative Profitability

Despite solid gross margins, negative EBITDA/EBIT and net profit margins show operating and overhead costs erode earnings. Continued unprofitability diminishes retained earnings, depresses ROE, and hampers the company's ability to self-fund growth or deliver shareholder returns sustainably.

NG Energy International Business Overview & Revenue Model

Company Description

NG Energy International Corp., an oil and gas company, engages in the acquisition, exploration, development, and exploitation of oil and natural gas assets in Colombia. It holds working interests in the SN-9 block, which covers an area of approximately 311,353 acres; the Maria Conchita block, covering an area of approximately 32,518 acres; and the Tiburon Block that covers an area of approximately 245,850 acres. The company was formerly known as NGX Energy International Corp. and changed its name to NG Energy International Corp. in November 2020. NG Energy International Corp. is headquartered in Vancouver, Canada.

How the Company Makes Money

NG Energy International generates revenue primarily through the extraction and sale of natural gas. The company earns money by selling its produced gas to various customers, including local utilities and industrial clients, which often enter into long-term supply agreements. Additionally, NG Energy may benefit from partnerships with other energy companies for joint exploration and production activities, which can provide access to shared resources and reduce operational costs. The company’s revenue model is bolstered by the fluctuating market prices of natural gas, allowing it to capitalize on favorable conditions. Strategic partnerships with regional governments and investment in infrastructure also contribute to its earnings by enhancing its operational efficiency.

NG Energy International Financial Statement Overview

Summary

NG Energy International faces significant financial challenges. Despite revenue growth, the company struggles with profitability, high leverage, and weak cash flow, indicating financial instability and operational inefficiencies.

Income Statement

NG Energy International shows a mixed performance in its income statement. The company has experienced revenue growth, with a 14.18% increase in the TTM period. However, profitability remains a significant concern, with negative net profit margins and EBIT margins indicating ongoing operational challenges. The gross profit margin is relatively strong at 51.98% for TTM, but the negative EBITDA and EBIT margins highlight inefficiencies and high operational costs.

Balance Sheet

The balance sheet reveals a high debt-to-equity ratio of 2.77 in the TTM period, suggesting significant leverage and potential financial risk. The return on equity is negative, reflecting ongoing losses and poor shareholder returns. The equity ratio is low, indicating a heavy reliance on debt financing. These factors point to financial instability and potential liquidity concerns.

Cash Flow

Cash flow analysis shows challenges, with negative free cash flow and a low operating cash flow to net income ratio of 0.06 in the TTM period. Although there is some improvement in free cash flow growth, the overall cash flow position remains weak, indicating difficulties in generating sufficient cash to cover expenses and invest in growth.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	39.01M	38.21M	12.04M	1.77M	0.00	0.00
Gross Profit	19.35M	22.33M	4.54M	430.47K	-6.77K	-17.25K
EBITDA	-4.27M	5.19M	-423.00K	-7.01M	-5.28M	-3.84M
Net Income	-28.93M	-53.70M	-16.68M	-9.97M	-7.32M	-24.23M
Balance Sheet
Total Assets	235.05M	113.47M	106.86M	83.15M	23.15M	14.47M
Cash, Cash Equivalents and Short-Term Investments	13.79M	8.19M	1.29M	6.96M	5.85M	1.21M
Total Debt	103.04M	40.63M	82.18M	55.43M	2.99M	4.01M
Total Liabilities	209.80M	68.65M	96.77M	67.64M	6.41M	7.81M
Stockholders Equity	25.25M	44.82M	10.09M	15.51M	16.73M	6.66M
Cash Flow
Free Cash Flow	-11.91M	-287.33K	-22.47M	-34.23M	-10.73M	-7.08M
Operating Cash Flow	5.85M	18.47M	-3.55M	-3.59M	-5.24M	-2.57M
Investing Cash Flow	19.40M	-23.60M	-23.79M	-28.31M	-5.93M	-4.04M
Financing Cash Flow	-30.78M	12.58M	21.39M	33.56M	15.92M	6.36M

NG Energy International Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.14
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:GASX, the sentiment is Positive. The current price of 1.14 is above the 20-day moving average (MA) of 1.10, above the 50-day MA of 1.03, and above the 200-day MA of 0.99, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 59.88 is Neutral, neither overbought nor oversold. The STOCH value of 79.37 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:GASX.

NG Energy International Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ALV	75 Outperform	C$267.78M	9.83	21.90%	8.44%	2.20%	38.33%
PRQ	63 Neutral	C$249.54M	505.41	0.20%	6.19%	-8.58%	-98.92%
JOY	58 Neutral	C$234.20M	11.13	5.81%	―	-1.47%	267.04%
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
FO	54 Neutral	C$271.74M	-66.67	-6.71%	―	―	-5.88%
CVVY	48 Neutral	C$261.55M	-9.64	-15.54%	―	-15.50%	-58.23%
GASX	40 Underperform	C$301.48M	-7.12	-79.56%	―	5.13%	61.58%

NG Energy International Corporate Events

NG Energy Chairman Increases Stake as Company Corrects RSU Grant Disclosure

NG Energy International reported that its executive chairman, Brian Paes-Braga, has filed an early warning report after his interest in the company increased above the 2% reporting threshold on a partially diluted basis, following recent grants of stock options and restricted share units. The company also corrected an earlier disclosure, clarifying that it granted 4,550,000 restricted share units rather than 5,000,000, leaving 9,236,874 RSUs outstanding, with all recently announced equity-based incentives remaining subject to TSX Venture Exchange approval, underscoring ongoing insider support and the company’s continued use of equity compensation to align management and stakeholder interests.

The most recent analyst rating on (TSE:GASX) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on NG Energy International stock, see the TSE:GASX Stock Forecast page.

NG Energy Shareholders Back Board Slate as Company Expands Equity Incentive Awards

NG Energy International Corp. reported that shareholders approved all resolutions at its latest annual general and special meeting, including setting the board at seven directors, electing the full slate of nominated directors, reappointing PricewaterhouseCoopers LLP as auditor, and re-approving its incentive stock option plan along with amendments to its restricted and deferred share unit compensation plan. Following the meeting, the board granted 9.25 million stock options, 5 million restricted share units and 300,000 deferred share units to directors, officers, employees and consultants, with the awards remaining subject to TSX Venture Exchange approval, illustrating the company’s continued use of equity-based compensation to align insiders and key personnel with its long-term growth objectives in the Colombian natural gas market.

The most recent analyst rating on (TSE:GASX) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on NG Energy International stock, see the TSE:GASX Stock Forecast page.

NG Energy Closes Sinú-9 Deal, Sets 2026 Growth Plan and Share Buyback

NG Energy International has closed a series of transactions on the Sinú-9 Block in Colombia, leaving it with a 39% non-operating working interest alongside operator Maurel & Prom, which holds 61%, and securing a total of US$150 million in cash proceeds under revised payment terms. The joint venture plans a six-well drilling program at Sinú-9 in 2026, starting with Hechicero-1X, and NG Energy expects about US$50 million in 2026 capital expenditures including the Aruchara-5 well at Maria Conchita, supported by ongoing pipeline expansion to boost transportation capacity and position the company for higher production and cash flow. Additionally, the company has launched a normal course issuer bid to repurchase up to 10% of its public float and is proposing three new directors, including a new vice chairman and its CEO, signaling confidence in its balance sheet and governance as it enters a pivotal growth phase.

The most recent analyst rating on (TSE:GASX) stock is a Sell with a C$0.87 price target. To see the full list of analyst forecasts on NG Energy International stock, see the TSE:GASX Stock Forecast page.

NG Energy Wins Colombian Approval for US$150 Million Sinú-9 Block Deal

NG Energy International has secured approval from Colombia’s National Hydrocarbon Agency for its previously announced Sinú-9 Block transactions, clearing the final regulatory hurdle to sell a 40% working interest and operatorship to Etablissements Maurel & Prom for US$150 million and jointly acquire an additional 28% interest from minority partners. Upon closing, Maurel & Prom will operate the Sinú-9 Block with a 61% working interest while NG Energy will retain a 39% non-operating stake, positioning the partners to advance a six-well drilling campaign and potentially accelerate development of one of NG Energy’s key Colombian gas assets, with implications for the company’s growth trajectory and its ability to supply Colombia’s high-priced natural gas market.

The most recent analyst rating on (TSE:GASX) stock is a Sell with a C$0.87 price target. To see the full list of analyst forecasts on NG Energy International stock, see the TSE:GASX Stock Forecast page.

NG Energy to Resume Trading After Brief Halt Tied to Pending Regulatory Approval

NG Energy International has informed investors that trading in its common shares on the TSX Venture Exchange will resume shortly after a temporary halt requested on December 19, 2025. The company had asked for the halt in anticipation of a regulatory approval announcement, but that announcement has been postponed, signaling that while a regulatory decision remains pending, management expects trading activity in the stock to normalize in the near term.

The most recent analyst rating on (TSE:GASX) stock is a Sell with a C$0.87 price target. To see the full list of analyst forecasts on NG Energy International stock, see the TSE:GASX Stock Forecast page.

NG Energy Reports Strong Q3 2025 Results, Eyes Continued Growth

NG Energy International Corp. announced its Q3 2025 financial results, highlighting a significant increase in production and sales. The company achieved a 53% rise in natural gas and NGL sales compared to Q3 2024, driven by strong performance from its Sinú-9 field. Production efficiency improvements and favorable pricing conditions have expanded margins, while upcoming infrastructure enhancements and a strategic transaction with Maurel & Prom are expected to bolster financial flexibility and support further growth.

The most recent analyst rating on (TSE:GASX) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on NG Energy International stock, see the TSE:GASX Stock Forecast page.

NG Energy Boosts Production Capacity with Key Infrastructure Advances

NG Energy International Corp. has announced significant operational achievements at its Maria Conchita and Sinú-9 natural gas projects in Colombia. The completion of the Aruchara-4 ST-1 well and major infrastructure advancements have increased production capacity and positioned the company for growth. The Aruchara-4 ST-1 well is now producing up to 15.9 MMcf/d, with potential for further increases, and the company expects to be cash flow positive by Q4 2025. Additionally, infrastructure improvements at Sinú-9 have enhanced processing capacity, marking a milestone in the company’s production capabilities and its contribution to Colombia’s domestic gas market.

The most recent analyst rating on (TSE:GASX) stock is a Sell with a C$1.00 price target. To see the full list of analyst forecasts on NG Energy International stock, see the TSE:GASX Stock Forecast page.