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Mahanagar GasNSE:MGL +0.31%98 EV-to-EBITDA is 7.18 as of Aug. 06, 2026, which is 10% below its 10-year median of 7.99. GuruFocus rates NSE:MGL with a GF Score™ of 98/100 and a GF Value™ of ₹1,588.89 (Significantly Undervalued). The stock has 5 warning signs investors should review. Among 468 Utilities - Regulated companies, Mahanagar Gas ranks better than 69.87% on this metric.
EV-to-EBITDA is calculated as enterprise value divided by its EBITDA. As of today, Mahanagar Gas's enterprise value is ₹100,903 Mil.
Mahanagar Gas's EBITDA for the trailing twelve months (TTM) ended in Jun. 2026 was ₹14,063 Mil. Therefore, Mahanagar Gas's EV-to-EBITDA for today is 7.18.
The historical rank and industry rank for Mahanagar Gas's EV-to-EBITDA or its related term are showing as below:
NSE:MGL'
s EV-to-EBITDA Range Over the Past 10 Years
Min: 4.26 Med: 7.99 Max: 14.91
Current: 7.18
During the past 13 years, the highest EV-to-EBITDA of Mahanagar Gas was 14.91. The lowest was 4.26. And the median was 7.99.
NSE:MGL's EV-to-EBITDA is ranked better than 69.87% of 468
companies
in the Utilities - Regulated industry
Industry Median: 9.85
vs NSE:MGL: 7.18
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio to determine the fair market value of a company.
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Mahanagar Gas's PE Ratio (TTM) for today is calculated as:
Mahanagar Gas's share price for today is ₹1115.10.
Mahanagar Gas's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was ₹72.420.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Study has found that the companies with the lowest EV-to-EBITDA outperforms companies measured as cheap by other ratios such as PE Ratio (TTM).
The historical data trend for Mahanagar Gas's EV-to-EBITDA can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Utilities - Regulated Gas subindustry, Mahanagar Gas's EV-to-EBITDA, along with its competitors' market caps and EV-to-EBITDA data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Mahanagar Gas EV-to-EBITDA vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Mahanagar Gas's EV-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Mahanagar Gas's EV-to-EBITDA falls into.
Mahanagar Gas's current Enterprise Value is ₹100,903 Mil.
Mahanagar Gas's EBITDA for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was ₹14,063 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Mahanagar Gas (NSE:MGL) has a EV-to-EBITDA of 7.18 as of Aug. 06, 2026. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Mahanagar Gas. This is 10% below median its historical median of 7.99. Over the past decade, Mahanagar Gas' EV-to-EBITDA has ranged from 4.26 to 14.91. According to the industry distribution chart, Mahanagar Gas ranks #141 out of 468 companies in the Utilities - Regulated industry, placing it in the top 30.1%.
Is Mahanagar Gas' EV-to-EBITDA too high?
Mahanagar Gas' current EV-to-EBITDA of 7.18 is 10% below median its 10-year median of 7.99. Over the past 10 years, this metric has ranged from a low of 4.26 to a high of 14.91. The Utilities - Regulated industry median EV-to-EBITDA is 9.85. Mahanagar Gas' value of 7.18 is 27.1% below this industry median. Based on the distribution chart, Mahanagar Gas ranks #141 out of 468 companies in the Utilities - Regulated industry, which is above the industry midpoint. Overall, Mahanagar Gas has a GF Score™ of 98/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Mahanagar Gas' EV-to-EBITDA compare to ATO and NI?
According to the Utilities - Regulated industry distribution chart, Mahanagar Gas ranks #141 out of 468 companies for EV-to-EBITDA. This puts Mahanagar Gas in the upper half of its industry. The industry median EV-to-EBITDA is 9.85. Mahanagar Gas' value of 7.18 is 27.1% below this benchmark. Historically, Mahanagar Gas' own EV-to-EBITDA has ranged from 4.26 to 14.91 over the past decade. While the company's 10-year median is 7.99 vs. the industry median of 9.85, Mahanagar Gas has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-EBITDA for an Utilities - Regulated company?
The median EV-to-EBITDA among Utilities - Regulated companies is 9.85, based on 468 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, EV-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Mahanagar Gas's current EV-to-EBITDA of 7.18 is 27.1% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-EBITDA mean?
A high EV-to-EBITDA can signal that a stock is expensive relative to its fundamentals. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Mahanagar Gas. For the Utilities - Regulated industry, the median EV-to-EBITDA is 9.85 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Mahanagar Gas's current EV-to-EBITDA is 7.18, which is 10% below median its own 10-year median of 7.99. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mahanagar Gas stock overvalued right now?
Based on GuruFocus' analysis, Mahanagar Gas (NSE:MGL) is currently considered Significantly Undervalued. The stock's GF Value™ is ₹1,588.89, compared to a current price of ₹1,115.10 — trading 29.8% below its estimated fair value. The current EV-to-EBITDA is 7.18, which is 10% below median its 10-year median of 7.99 and 27.1% below the Utilities - Regulated industry median of 9.85. Mahanagar Gas' overall GF Score™ is 98/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-EBITDA calculated?
EV-to-EBITDA is calculated from a company's financial statements. For Mahanagar Gas (NSE:MGL), the current EV-to-EBITDA is 7.18 as of Aug. 06, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Mahanagar Gas (NSE:MGL) Overvalued in 2026?
Based on GuruFocus' analysis, Mahanagar Gas stock appears to be undervalued.
The current stock price of ₹1,115.10 is trading 29.8% below its estimated GF Value™ of ₹1,588.89.
GuruFocus considers Mahanagar Gas to be Significantly Undervalued.
Key valuation signals for NSE:MGL:
EV-to-EBITDA: 7.18 (10% below median its 10-year median of 7.99)
GF Value™: ₹1,588.89 vs. price of ₹1,115.10 (29.8% below fair value)
Industry Position: 27.1% below the Utilities - Regulated median (#141 of 468)
No single metric tells the full story. See the NSE:MGL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Mahanagar Gas Ltd is an India-based natural gas distribution company. It distributes natural gas through the City Gas Distribution network of pipelines. It distributes compressed natural gas (CNG) for use in vehicles and piped natural gas (PNG) for domestic household, commercial, and industrial use, and to transport sector customers as well. The company operates under the business segment of the sale of natural gas. Its business operations are principally carried out in India. The company generates revenue by selling natural gas, of which the sale of CNG accounts majorly for the total gas sales revenue.
98GF Score
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