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Transportadora De Gas Sa Ord B
(NYSE:TGS)
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Rating:64Neutral
Price Target:
$30.00
▲(5.86% Upside)
Action:Downgraded
Date:08/18/26
The score is driven primarily by strong current profitability and solid growth, partially offset by mixed/volatile cash flow quality and a rising debt load versus 2024. Technicals are a major drag with the stock trading below all major moving averages and negative momentum signals. Valuation is supportive with a modest P/E, but the lack of dividend yield data limits additional upside in the rating.
Positive Factors
Strong profitability and growth
Robust margins combined with roughly 12% TTM revenue growth indicate strong current earnings power and effective monetization of the business. The improvement from weak 2023 profitability to consistently higher 2024–TTM results supports reinvestment capacity and durable operating strength.
Negative Factors
Regulated tariff pressure
Inflation running ahead of tariff adjustments weakens the real economics of TGS’s core regulated transportation business. Persistent tariff lag can constrain revenue growth, margins, and the cash available to maintain infrastructure or fund expansion, even when underlying gas demand remains strong.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong profitability and growth
Robust margins combined with roughly 12% TTM revenue growth indicate strong current earnings power and effective monetization of the business. The improvement from weak 2023 profitability to consistently higher 2024–TTM results supports reinvestment capacity and durable operating strength.
Read all positive factors
Transportadora De Gas Sa Ord B (TGS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.13B
Dividend Yield3.58%
Average Volume (3M)208.89K
Price to Earnings (P/E)11.1
Beta (1Y)0.13
Revenue Growth10.99%
EPS Growth15.60%
CountryUS
Employees1,187
SectorEnergy
Sector Strength52
IndustryOil & Gas Midstream
Share Statistics
EPS (TTM)3720.15
Shares Outstanding69,513,695
10 Day Avg. Volume194,759
30 Day Avg. Volume208,891
Financial Highlights & Ratios
PEG Ratio0.43
Price to Book (P/B)2.17
Price to Sales (P/S)3.42
P/FCF Ratio36.58K
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)2.67
Revenue Forecast (FY)$1.38B
Transportadora De Gas Sa Ord B Business Overview & Revenue Model
Company Description
Transportadora de Gas del Sur S.A. (TGS) is an Argentine enterprise specializing in the transit of natural gas and the extraction and distribution of natural gas liquids. The company's activities are organized across four primary divisions. Its Na...
How the Company Makes Money
TGS primarily generates revenue from two main business lines: (1) regulated natural gas transportation and (2) natural gas liquids (NGL) and related midstream services.
1) Regulated natural gas transportation: TGS earns money by providing firm an...
Transportadora De Gas Sa Ord B Earnings Call Summary
Earnings Call Date:Feb 27, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Nov 09, 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
82
Very Positive
Balance Sheet
74
Positive
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.04T | 1.99T | 1.21T | 967.50B | 1.08T | 526.69B |
| Gross Profit | 1.09T | 1.06T | 631.37B | 347.43B | 427.73B | 237.57B |
| EBITDA | 1.22T | 1.09T | 767.48B | 280.66B | 513.69B | 289.63B |
| Net Income | 560.24B | 490.32B | 370.16B | 51.21B | 219.16B | 126.97B |
Balance Sheet | ||||||
| Total Assets | 6.72T | 5.41T | 3.39T | 3.32T | 1.28T | 405.52B |
| Cash, Cash Equivalents and Short-Term Investments | 2.22T | 1.81T | 796.54B | 717.45B | 131.66B | 34.48B |
| Total Debt | 1.69T | 1.67T | 528.15B | 918.21B | 288.97B | 102.42B |
| Total Liabilities | 2.72T | 2.29T | 1.16T | 1.46T | 451.13B | 170.61B |
| Stockholders Equity | 4.00T | 3.13T | 2.23T | 1.86T | 832.16B | 234.91B |
Cash Flow | ||||||
| Free Cash Flow | 407.58B | 185.64M | 255.67B | 156.09B | 68.54B | 125.28B |
| Operating Cash Flow | 944.44B | 442.95M | 636.92B | 543.06B | 240.15B | 183.80B |
| Investing Cash Flow | -1.56T | -364.93M | -506.33B | -591.35B | -272.72B | -32.85B |
| Financing Cash Flow | 863.83B | 525.67M | -41.24B | 70.62B | 24.59B | -1.03B |
Transportadora De Gas Sa Ord B Technical Analysis
Negative
28.34
Price Trends
28.75
Negative
29.54
Negative
30.28
Negative
Market Momentum
-0.93
Positive
25.33
Positive
12.36
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 28.34 is above the 20-day moving average (MA) of 28.15, below the 50-day MA of 28.75, and below the 200-day MA of 30.28, indicating a bearish trend. The MACD of -0.93 indicates Positive momentum. The RSI at 25.33 is Positive, neither overbought nor oversold. The STOCH value of 12.36 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 |
|---|---|---|---|---|---|---|---|
73 Outperform | $68.07B | 12.49 | 16.77% | 6.69% | 33.27% | 12.55% | |
73 Outperform | $83.14B | 27.43 | 23.86% | 3.00% | 8.70% | 26.28% | |
70 Outperform | $67.14B | 19.61 | 11.11% | 3.87% | 12.44% | 27.19% | |
69 Neutral | $8.15B | 18.42 | -36.70% | 6.29% | 10.46% | 281.46% | |
69 Neutral | $12.19B | 26.13 | 9.87% | 2.88% | 18.12% | 22.38% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
64 Neutral | $4.13B | 11.14 | 16.37% | 3.58% | 10.99% | 15.60% |
* Energy Sector Average
TGS
Transportadora De Gas Sa Ord B
24.95
3.78
17.86%
ET
Energy Transfer
20.10
4.47
28.60%
KMI
Kinder Morgan
30.53
3.17
11.58%
WMB
Williams Co
69.22
6.65
10.62%
KNTK
Kinetik
51.01
15.14
42.21%
DTM
DT Midstream
120.08
8.58
7.69%
Transportadora De Gas Sa Ord B Corporate Events
Transportadora de Gas del Sur Posts Higher H1 2026 Revenue Amid Transport Tariff Pressure and Strong Capacity Demand
Aug 13, 2026
For the six months ended June 30, 2026, Transportadora de Gas del Sur reported a sharp year‑on‑year increase in total revenues, driven mainly by strong growth in its Liquids Production and Commercialization and Midstream segments. Howe...
Transportadora de Gas del Sur Posts Strong Q2 2026 Results and Greenlights Major NGLs Expansion
Aug 4, 2026
On August 3, 2026, Transportadora de Gas del Sur reported second-quarter 2026 comprehensive income of Ps. 133,145 million, more than doubling year-on-year, driven by stronger liquids production and commercialization revenues and improved financial...
Transportadora de Gas del Sur Gets Moody’s Upgrade on Notes After Argentina Sovereign Lift
Jul 24, 2026
On July 23, 2026, Transportadora de Gas del Sur S.A. disclosed that Moody’s raised the rating on the company’s notes from B2 to B1, following an upgrade of Argentina’s sovereign debt rating. The move reflects an improvement in pe...
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.