TGS ASA (TGSNF)
ValueMarkers Composite Index
51% below intrinsic value ($25)
TGS ASA (TGSNF) — VMCI valuation read
TGSNF screens at VMCI 55/100, a 5-point gap above the Energy sector median (50). For a mid-cap TGS ASA share, that placement says the multi-pillar composite is cheaper or higher quality than the typical peer on a like-for-like basis.
TGSNF has logged no Form 4 insider activity over the trailing 30 days. The tape reads neither bullish nor bearish on insider conviction. The next signal sits with the 10-Q schedule and the analyst calendar.
**Investor frame.** Value: TGSNF trades at 26.0x earnings, 44% above the Energy median of 18.0x, while EV/EBITDA prints 9.0x against 12.0x for the Energy group. Quality: ROIC of 16.0% sits 6.0pp above the Energy median (10.0%), the cleanest like-for-like comparison on capital efficiency. Risk: net debt to EBITDA of -2.2x leaves covenant headroom, which sets the rate-cycle exposure for TGS ASA.
TGSNF rose 3.5% over the trailing 7 days, with a -19.8% read on a 30-day basis.
TGS ASA provides geoscience data products and services to the oil and gas industry worldwide. The company offers geophysical multi-client data, including seismic data; and geophysical library, such as gravity, magnetic, seep, geothermal, controlled source electromagnetic, and multibeam data. It also provides geological services comprising digital well logs; and interpretation products and data integration solutions. In addition, the company offers imaging services, which include depth and time imaging; marine, land, and ocean bottom cables and nodes; anisotropic imaging; transition zone processing; multi component processing; shear wave; and 4D time-lapse, as well as wide azimuth data processing. Further, it provides data and analytics solutions; and PRIMA, a multifunction exploration software suite. The company was formerly known as TGS-NOPEC Geophysical Company ASA and changed its name to TGS ASA in June 2021. TGS ASA was founded in 1981 and is headquartered in Oslo, Norway.
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