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Oil & Natural GasNSE:ONGC -0.88%85 EV-to-EBITDA is 6.61 as of Aug. 24, 2026, which is 27% above its 10-year median of 5.22. GuruFocus rates NSE:ONGC with a GF Score™ of 85/100 and a GF Value™ of ₹293.37 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 776 Oil & Gas companies, Oil & Natural Gas ranks better than 56.44% on this metric.
EV-to-EBITDA is calculated as enterprise value divided by its EBITDA. As of today, Oil & Natural Gas's enterprise value is ₹4,735,448 Mil.
Oil & Natural Gas's EBITDA for the trailing twelve months (TTM) ended in Jun. 2026 was ₹716,680 Mil. Therefore, Oil & Natural Gas's EV-to-EBITDA for today is 6.61.
The historical rank and industry rank for Oil & Natural Gas's EV-to-EBITDA or its related term are showing as below:
NSE:ONGC'
s EV-to-EBITDA Range Over the Past 10 Years
Min: 1.77 Med: 5.22 Max: 17.58
Current: 6.61
During the past 13 years, the highest EV-to-EBITDA of Oil & Natural Gas was 17.58. The lowest was 1.77. And the median was 5.22.
NSE:ONGC's EV-to-EBITDA is ranked better than 56.44% of 776
companies
in the Oil & Gas industry
Industry Median: 7.63
vs NSE:ONGC: 6.61
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.
Oil & Natural Gas (NSE:ONGC) EV-to-EBITDA Explanation
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.
Oil & Natural Gas's PE Ratio (TTM) for today is calculated as:
Oil & Natural Gas's share price for today is ₹236.40.
Oil & Natural 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 ₹34.600.
* 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 Oil & Natural 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 Oil & Gas Integrated subindustry, Oil & Natural 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.
Oil & Natural Gas EV-to-EBITDA vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Oil & Natural Gas's EV-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Oil & Natural Gas's EV-to-EBITDA falls into.
Oil & Natural Gas's current Enterprise Value is ₹4,735,448 Mil.
Oil & Natural 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 ₹716,680 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.
Oil & Natural Gas (NSE:ONGC) has a EV-to-EBITDA of 6.61 as of Aug. 24, 2026. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Oil & Natural Gas. This is 27% above median its historical median of 5.22. Over the past decade, Oil & Natural Gas' EV-to-EBITDA has ranged from 1.77 to 17.58. According to the industry distribution chart, Oil & Natural Gas ranks #338 out of 776 companies in the Oil & Gas industry, placing it in the top 43.6%.
Is Oil & Natural Gas' EV-to-EBITDA too high?
Oil & Natural Gas' current EV-to-EBITDA of 6.61 is 27% above median its 10-year median of 5.22. Over the past 10 years, this metric has ranged from a low of 1.77 to a high of 17.58. The Oil & Gas industry median EV-to-EBITDA is 7.63. Oil & Natural Gas' value of 6.61 is 13.4% below this industry median. Based on the distribution chart, Oil & Natural Gas ranks #338 out of 776 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, Oil & Natural Gas has a GF Score™ of 85/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Oil & Natural Gas' EV-to-EBITDA compare to XOM and CVX?
According to the Oil & Gas industry distribution chart, Oil & Natural Gas ranks #338 out of 776 companies for EV-to-EBITDA. This puts Oil & Natural Gas in the upper half of its industry. The industry median EV-to-EBITDA is 7.63. Oil & Natural Gas' value of 6.61 is 13.4% below this benchmark. Historically, Oil & Natural Gas' own EV-to-EBITDA has ranged from 1.77 to 17.58 over the past decade. While the company's 10-year median is 5.22 vs. the industry median of 7.63, Oil & Natural 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 Oil & Gas company?
The median EV-to-EBITDA among Oil & Gas companies is 7.63, based on 776 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. Oil & Natural Gas's current EV-to-EBITDA of 6.61 is 13.4% 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 Oil & Natural Gas. For the Oil & Gas industry, the median EV-to-EBITDA is 7.63 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Oil & Natural Gas's current EV-to-EBITDA is 6.61, which is 27% above median its own 10-year median of 5.22. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Oil & Natural Gas stock overvalued right now?
Based on GuruFocus' analysis, Oil & Natural Gas (NSE:ONGC) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹293.37, compared to a current price of ₹236.40 — trading 19.4% below its estimated fair value. The current EV-to-EBITDA is 6.61, which is 27% above median its 10-year median of 5.22 and 13.4% below the Oil & Gas industry median of 7.63. Oil & Natural Gas' overall GF Score™ is 85/100 with 2 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 Oil & Natural Gas (NSE:ONGC), the current EV-to-EBITDA is 6.61 as of Aug. 24, 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 Oil & Natural Gas (NSE:ONGC) Overvalued in 2026?
Based on GuruFocus' analysis, Oil & Natural Gas stock appears to be undervalued.
The current stock price of ₹236.40 is trading 19.4% below its estimated GF Value™ of ₹293.37.
GuruFocus considers Oil & Natural Gas to be Modestly Undervalued.
Key valuation signals for NSE:ONGC:
EV-to-EBITDA: 6.61 (27% above median its 10-year median of 5.22)
GF Value™: ₹293.37 vs. price of ₹236.40 (19.4% below fair value)
Industry Position: 13.4% below the Oil & Gas median (#338 of 776)
No single metric tells the full story. See the NSE:ONGC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Oil & Natural Gas Corp Ltd is an Indian-based company. It engaged in the exploration, development, and production of crude oil, natural gas, and value-added products. Along with its subsidiaries, the company operates in the following business segments: Refining and Marketing, which derives maximum revenue, Exploration and Production, and Petrochemicals. Geographically, the group derives maximum revenue from India, from its offshore and onshore activities, and is also involved in exploration and production activities outside India.
85GF Score
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