Shenzhen Gas Corp Ltd
SSE:601139

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Shenzhen Gas Corp Ltd
SSE:601139
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Price: 6.98 CNY 1.75%
Market Cap: ¥20.1B

EV/EBITDA

17.7
Current
21%
More Expensive
vs 3-y average of 14.6

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
17.7
=
Enterprise Value
¥34.3B
/
EBITDA
¥2B

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
17.7
=
Enterprise Value
¥34.3B
/
EBITDA
¥2B

Valuation Scenarios

Shenzhen Gas Corp Ltd is trading above its 3-year average

If EV/EBITDA returns to its 3-Year Average (14.6), the stock would be worth ¥5.78 (17% downside from current price).

Statistics
Positive Scenarios
2/4
Maximum Downside
-20%
Maximum Upside
+63%
Average Upside
9%
Scenario EV/EBITDA Value Implied Price Upside/Downside
Current Multiple 17.7 ¥6.98
0%
3-Year Average 14.6 ¥5.78
-17%
5-Year Average 14.1 ¥5.56
-20%
Industry Average 19.3 ¥7.6
+9%
Country Average 28.8 ¥11.38
+63%

Forward EV/EBITDA
Today’s price vs future ebitda

Today's Enterprise Value EBITDA Forward EV/EBITDA
¥34.3B
/
Oct 2025
¥2B
=
17.7
Current
¥34.3B
/
Dec 2025
¥3.2B
=
10.7
Forward
¥34.3B
/
Dec 2026
¥3.8B
=
9.1
Forward
¥34.3B
/
Dec 2027
¥4.3B
=
8
Forward
¥34.3B
/
Dec 2028
¥4.6B
=
7.5
Forward

Forward EV/EBITDA shows whether today’s EV/EBITDA still looks high or low once future ebitda are taken into account.

Peer Comparison

All Multiples
EV/EBITDA
P/E
All Countries
Close
Market Cap EV/EBITDA P/E
CN
Shenzhen Gas Corp Ltd
SSE:601139
20.1B CNY 17.7 15.2
US
Atmos Energy Corp
NYSE:ATO
30.3B USD 16.7 24.2
ES
Naturgy Energy Group SA
MAD:NTGY
24.7B EUR 6.6 12.2
IT
Snam SpA
MIL:SRG
22.2B EUR 12.1 17.4
HK
Hong Kong and China Gas Co Ltd
HKEX:3
135.8B HKD 21.1 23.9
JP
Osaka Gas Co Ltd
TSE:9532
2.3T JPY 9.1 12.5
JP
Tokyo Gas Co Ltd
TSE:9531
2.2T JPY 6.7 11
IT
Italgas SpA
MIL:IG
10.6B EUR 10.4 15.6
CA
AltaGas Ltd
TSX:ALA
15.3B CAD 13.6 20.5
IN
GAIL (India) Ltd
NSE:GAIL
1.1T INR 8.8 12.3
CN
ENN Natural Gas Co Ltd
SSE:600803
65.1B CNY 6.7 13.9
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
CN
Shenzhen Gas Corp Ltd
SSE:601139
Average EV/EBITDA: 11.8
17.7
27%
0.7
US
Atmos Energy Corp
NYSE:ATO
16.7
14%
1.2
ES
Naturgy Energy Group SA
MAD:NTGY
6.6
2%
3.3
IT
Snam SpA
MIL:SRG
12.1
5%
2.4
HK
Hong Kong and China Gas Co Ltd
HKEX:3
21.1
20%
1.1
JP
Osaka Gas Co Ltd
TSE:9532
9.1
3%
3
JP
T
Tokyo Gas Co Ltd
TSE:9531
6.7
5%
1.3
IT
Italgas SpA
MIL:IG
10.4
9%
1.2
CA
AltaGas Ltd
TSX:ALA
13.6
9%
1.5
IN
GAIL (India) Ltd
NSE:GAIL
8.8
2%
4.4
CN
ENN Natural Gas Co Ltd
SSE:600803
6.7
21%
0.3

Market Distribution

In line with most companies in China
Percentile
32nd
Based on 5 409 companies
32nd percentile
17.7
Low
0 — 16.3
Typical Range
16.3 — 53.1
High
53.1 —
Distribution Statistics
China
Min 0
30th Percentile 16.3
Median 28.8
70th Percentile 53.1
Max 49 021

Shenzhen Gas Corp Ltd
Glance View

Market Cap
20.1B CNY
Industry
Utilities

Shenzhen Gas Corp Ltd., a stalwart in China's thriving energy sector, has woven itself into the fabric of urban daily life, enabling the smooth function of households and industries alike. Founded in the bustling metropolis of Shenzhen, the company capitalizes on the city’s rapid urbanization and the increasing demand for cleaner energy sources. At the heart of its operations, Shenzhen Gas efficiently manages the procurement, transportation, and distribution of natural gas. It caters to a diverse clientele that ranges from individual households to large-scale industrial entities. The company has developed a robust infrastructure network that ensures the seamless supply of gas across its service areas, supplemented by strategic partnerships with international gas suppliers, thereby fortifying its position amidst growing competition. Shenzhen Gas’s business model is designed around long-term sustainability and adaptability, riding the tides of China's energy policy shifts towards greener alternatives. In addition to natural gas distribution, the company is actively exploring renewable energy projects and technological innovations aimed at enhancing energy efficiency. A noteworthy aspect of its revenue generation strategy lies in its customer-centric approach, providing a repertoire of services such as gas appliance sales, maintenance services, and energy management solutions, thereby creating a multi-faceted stream of income. The corporation’s financial health is supported by a steady revenue base from gas sales, often characterized by contracts that ensure predictable cash flows. As Shenzhen continues to grow and industries seek more sustainable energy options, Shenzhen Gas Corp Ltd. stands as a key player, balancing energy demands with the imperatives of environmental stewardship.

Intrinsic Value
10.86 CNY
Undervaluation 36%
Intrinsic Value
Price ¥6.98
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