Societatea Nationala de Gaze Naturale Romgaz SA (SNG) Fair Value & Analysis

Energy · RO · Market cap 50.8B RON (≈ $11.2B) · ISIN ROSNGNACNOR3

What is Societatea Nationala de Gaze Naturale Romgaz SA really worth?

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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What matters now

• The price sits above even our optimistic bull case (7.78 RON). The favourable scenario is already priced in.
• Weak quality (44/100) and above fair value at the same time, the margin of safety is missing on both counts.
• A fairly wide model range (4.21 RON to 7.78 RON) leaves room in how you read the outcome.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 29, 2026.

How to read this chart

60‑month range 2.46 RON – 19.96 RON · fair‑value band 4.21 RON – 7.78 RON · the 17.58 RON price screens above the 5.99 RON fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 29, 2026.

Full chart & analysis →

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Analysis

Societatea Nationala de Gaze Naturale Romgaz SA (SNG) currently trades at 17.58 RON, while our model-based Fair Value estimate is 5.99 RON, implying the stock looks roughly 193.5% overvalued today. The Quality Score stands at 44/100 (below-average quality), in the Energy sector. Bull case: the Growth Earnings group reads highest at a median of 11.07 RON per share, and 0 of the 16 models we run sit above the 17.58 RON price. Bear case: the Dividend Discount group reads lowest at 2.33 RON, and 16 of the 16 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, Societatea Nationala de Gaze Naturale Romgaz SA generated revenue of 7.8B RON at a net margin of 43.1%. Revenue declined 10.2% year over year. It earns a return on equity of 20.3%. Net debt stands at 4.5B RON. Fundamentals as of Aug 29, 2026

Our scenario range runs from 4.21 RON (bear case) to 7.78 RON (bull case); at 17.58 RON, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 166% above its 52-week low, currently above its 200-day average. For context, the median of 10 Energy peers we cover trades at −35% fair-value upside, at −66%, SNG screens richer than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 11 months have passed since. In that time the company retained roughly 0.6529 RON per share, which is 10.9 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Widest divergence: Growth Earnings (11.07 RON) versus Dividend Discount (2.33 RON). Highest evidence: Owner Earnings (71).

Key figures & financial health

Quality Score breakdown

About the company

SNGN Romgaz SA, together with its subsidiaries, engages in the exploration, production, and supply of natural gas in Romania.

Full company description

SNGN Romgaz SA, together with its subsidiaries, engages in the exploration, production, and supply of natural gas in Romania. The company is involved in the geological research for the discovery of natural gas, crude oil, and condensed reserves; operation, production, usage, and trading of mineral resources; underground storage of natural gas; and commission, intervention, and repair of wells equipping the deposits, as well as natural gas resources extraction wells. It also engages in recompletions jobs, workover and special well operations, and production tests in natural gas wells; electricity production and supply; technological transport, integrated logistics, and technical maintenance; and petroleum blocks cooperation. The company was founded in 1909 and is headquartered in Medias, Romania.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Societatea Nationala de Gaze Naturale Romgaz SA reported revenue of 8.0B RON in FY2025 versus 5.9B RON in FY2021, a compound +8.2%/yr. Reported net income was 3.3B RON in FY2025, compounding +14.9%/yr from FY2021.

SNG screens 194% overvalued. Compare with CNOOC Limited →

Peer Group

Oil & Gas E&P · 296 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Valuation Multiples vs Oil & Gas E&P median · lower = cheaper

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

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