TGS ASA (TGS.OL) stock analysis

In our weekly check, TGS ASA is graded C (A to F). Of 25 checks on debt, profit, cash flow and trend: 14 pass, warnings: 7, red flags: 4.

About TGS ASA

TGS ASA is an Energy company (Oil & Gas Equipment & Services) based in Norway, listed on OSL as TGS.OL.

What our checks show for TGS.OL

Red flags

• The gross margin fell by 30.9 points, to 29.6%: costs are rising faster than prices.
• The dividend takes 138% of profit: little cushion if profit falls.
• The stock has fallen as much as 80% from a peak. Would you have held through that?
• The share count grew by 61% in 2 years: each shareholder owns a smaller slice.

Warning signs

• Operating profit covers interest only 2.5 times: a weak year could make the payments hard.
• Earnings per share fell 15.6% a year over the last 3 years.
• The net margin is only 6.5%: little room if costs rise.
• The price swings a lot: 39.5% annual volatility. Expect large ups and downs.
• Recovering from its deepest fall took about 2.2 years.
• Thinly traded (about 392 thousand shares a day): buying and selling can move the price.
• Return on capital (ROCE) is only 6.6%.

Strengths

• Net debt is only 0.8x a year of EBITDA: the balance sheet has room.
• The net margin rose by 21.1 points over 5 years, to 6.5%.
• Operating cash flow is 7.3x net profit: the profit arrives as real cash.
• Analysts expect earnings per share to grow about 69.6% a year over the next years.
• Analysts expect the net margin to improve by 11.2 points from today's 6.5%.
• Revenue grew 23.9% a year over the last 3 years.

Similar companies

FTI · HAL · TS · BKR · 7277.KL · 2883.HK

Questions

What grade does TGS ASA (TGS.OL) have?

In our weekly check, TGS ASA is graded C (A to F). Of 25 checks on debt, profit, cash flow and trend: 14 pass, warnings: 7, red flags: 4. The grade is a risk check, not a buy or sell recommendation.

What are the main risks of TGS.OL stock?

This week's biggest flags for TGS ASA: Gross margin falling, Dividend stretched, Deep past fall. In total 11 of 25 checks show a warning or a red flag.

What does TGS ASA do?

TGS ASA is an Energy company (Oil & Gas Equipment & Services) based in Norway, listed on OSL as TGS.OL.

The grade is a risk check, not a price forecast, and not investment advice. In our 10-year test (S&P 500, 2016-2026), stocks we graded A or B fell more than 30% 2-3 times less often than D or F, without a lower average return.

Updated 2026-10-31

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