TGS

MKT CAP:$5B

Transportadora de Gas del Sur S.A.

Market Cap

$5B

Energy·Oil & Gas Integrated·🇦🇷 Argentina·NYSE

Energy·Oil & Gas Integrated·🇦🇷·NYSE

Stock Price

$30.69-$0.11 (-0.36%)

Apr 23, 2026

Company Details

Transportadora de Gas del Sur S.A. engages in transportation of natural gas, production, and commercialization of natural gas liquids in Argentina. The company operates through four segments: Natural Gas Transportation Services; Liquids Pro...

CEO

Oscar José Sardi

IPO Date

Nov 17, 1994

Website

www.tgs.com.ar

Key Metrics TTM

Revenue

$1.1B

— YoY

Net Income

$353M

EPS (Diluted)

$2.36

Free Cash Flow

$135M

Revenue / Share

$7.64

Gross Margin

53.4%

Operating Margin

44.8%

Net Margin

30.7%

FCF Margin

11.7%

P/S

3.9x

P/E

12.8x

Earnings Reports

Q1 2026

May 14, 2026

PENDING

FY 2025

Dec 30, 2025

$1.4B+64.8%EPS $2.34

Q4 2025

Mar 25, 2026

$409M+37.8%EPS $0.70

Q1 2025

May 19, 2025

$231M+8.6%EPS $0.51

FY 2024

Apr 24, 2025

$870M+24.7%EPS $1.77

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 22	$41M	$15M	$12M
Q1 23	$129M	$52M	$39M
Q4 23	$159M	$56M	$40M
Q1 24	$213M	$99M	$73M
Q4 24	$297M	$160M	$162M
Q1 25	$231M	$133M	$102M
Q4 25	$409M	$222M	$178M

Valuation

Quarter	P/S	P/E
Q4 22	—	—
Q1 23	—	—
Q4 23	—	—
Q1 24	4.3x	28.8x
Q4 24	5.6x	24.7x
Q1 25	4.4x	16.5x
Q4 25	4.1x	13.2x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$71M	$44M
Q4 23	$72M	$18M
Q1 24	$54M	-$12M
Q4 24	$136M	$64M
Q1 25	$108M	$68M
Q4 25	$102M	$15M

Capital Expenditures

Quarter	CapEx
Q1 23	$26M
Q4 23	$54M
Q1 24	$66M
Q4 24	$72M
Q1 25	$40M
Q4 25	$86M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 24	+626.6%	+359.3%
Q1 25	+79.8%	+45.2%
Q4 25	+157.3%	+93.9%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q4 22	$1M	$64.5K	—
Q1 23	$6M	$9M	—
Q4 23	$8M	$407.8K	—
Q1 24	$11M	$16M	—
Q4 24	$11M	$478.1K	—
Q1 25	$8M	$463.2K	—
Q4 25	—	—	$44M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 22	$7M	$88M	$95M
Q1 23	$10M	$55M	$65M
Q2 23	$6M	$77M	$83M
Q3 23	$4M	$114M	$118M
Q4 23	$10M	$507M	$517M
Q1 24	$27M	$299M	$326M
Q2 24	$28M	$364M	$392M
Q3 24	$23M	$444M	$467M
Q4 24	$43M	$531M	$574M
Q1 25	$34M	$654M	$689M
Q2 25	$12M	$475M	$487M
Q3 25	$53M	$578M	$631M
Q4 25	$579M	$723M	$1.3B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 22	151M	—	—
Q1 23	151M	0.0%	—
Q4 23	151M	0.0%	—
Q1 24	151M	0.0%	—
Q4 24	151M	0.0%	0.0%
Q1 25	151M	0.0%	0.0%
Q4 25	151M	0.0%	0.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 22	$37.3K	1K
Q1 23	$117.5K	1K
Q4 23	$141.2K	1K
Q1 24	$189.3K	1K
Q4 24	$494.3K	600
Q1 25	$385.5K	600
Q4 25	$681.1K	600

Revenue / Employee