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National Gas CoOGMUS:NGCI +0.90%32 EV-to-OCF is 3.10 as of Sep. 04, 2026, which is 45% below its 10-year median of 5.59. GuruFocus rates MUS:NGCI with a GF Score™ of 32/100 and a GF Value™ of ر.ع0.09 (Modestly Overvalued). The stock has 9 warning signs investors should review. Among 507 Utilities - Regulated companies, National Gas CoOG ranks better than 84.62% on this metric.
EV-to-OCF is calculated as enterprise value divided by its cash flow from operations. As of today, National Gas CoOG's Enterprise Value is ر.ع23.75 Mil.
National Gas CoOG's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2025 was ر.ع7.67 Mil. Therefore, National Gas CoOG's EV-to-OCF for today is 3.10.
The historical rank and industry rank for National Gas CoOG's EV-to-OCF or its related term are showing as below:
MUS:NGCI'
s EV-to-OCF Range Over the Past 10 Years
Min: -484.88 Med: 5.59 Max: 25.9
Current: 3.04
During the past 13 years, the highest EV-to-OCF of National Gas CoOG was 25.90. The lowest was -484.88. And the median was 5.59.
MUS:NGCI's EV-to-OCF is ranked better than 84.62% of 507
companies
in the Utilities - Regulated industry
Industry Median: 10.42
vs MUS:NGCI: 3.04
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. 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.
National Gas CoOG (MUS:NGCI) EV-to-OCF Explanation
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. 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.
National Gas CoOG's PE Ratio (TTM) for today is calculated as:
National Gas CoOG's share price for today is ر.ع0.114.
National Gas CoOG's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Dec. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was ر.ع-0.009.
* 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.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
National Gas CoOG EV-to-OCF Related Terms
National Gas CoOG EV-to-OCF Historical Data
* Premium members only.
The historical data trend for National Gas CoOG's EV-to-OCF 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, National Gas CoOG's EV-to-OCF, along with its competitors' market caps and EV-to-OCF 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.
National Gas CoOG EV-to-OCF vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, National Gas CoOG's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where National Gas CoOG's EV-to-OCF falls into.
National Gas CoOG's current Enterprise Value is ر.ع23.75 Mil.
National Gas CoOG's Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was ر.ع7.67 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.
National Gas CoOG (MUS:NGCI) has a EV-to-OCF of 3.10 as of Sep. 04, 2026. This is 45% below median its historical median of 5.59. According to the industry distribution chart, National Gas CoOG ranks #78 out of 507 companies in the Utilities - Regulated industry, placing it in the top 15.4%.
Is National Gas CoOG's EV-to-OCF too high?
National Gas CoOG's current EV-to-OCF of 3.10 is 45% below median its 10-year median of 5.59. The Utilities - Regulated industry median EV-to-OCF is 10.42. National Gas CoOG's value of 3.10 is 70.2% below this industry median. Based on the distribution chart, National Gas CoOG ranks #78 out of 507 companies in the Utilities - Regulated industry, which is in the top quartile — a strong position relative to peers. Overall, National Gas CoOG has a GF Score™ of 32/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does National Gas CoOG's EV-to-OCF compare to ATO and NI?
According to the Utilities - Regulated industry distribution chart, National Gas CoOG ranks #78 out of 507 companies for EV-to-OCF. This places National Gas CoOG in the top 15% of its industry — outperforming the majority of peers. The industry median EV-to-OCF is 10.42. National Gas CoOG's value of 3.10 is 70.2% below this benchmark. While the company's 10-year median is 5.59 vs. the industry median of 10.42, National Gas CoOG 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-OCF for an Utilities - Regulated company?
The median EV-to-OCF among Utilities - Regulated companies is 10.42, based on 507 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-OCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-OCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. National Gas CoOG's current EV-to-OCF of 3.10 is 70.2% 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-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. For the Utilities - Regulated industry, the median EV-to-OCF is 10.42 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. National Gas CoOG's current EV-to-OCF is 3.10, which is 45% below median its own 10-year median of 5.59. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is National Gas CoOG stock overvalued right now?
Based on GuruFocus' analysis, National Gas CoOG (MUS:NGCI) is currently considered Modestly Overvalued. The stock's GF Value™ is ر.ع0.09, compared to a current price of ر.ع0.11 — trading 26.7% above its estimated fair value. The current EV-to-OCF is 3.10, which is 45% below median its 10-year median of 5.59 and 70.2% below the Utilities - Regulated industry median of 10.42. National Gas CoOG's overall GF Score™ is 32/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For National Gas CoOG (MUS:NGCI), the current EV-to-OCF is 3.10 as of Sep. 04, 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 National Gas CoOG (MUS:NGCI) Overvalued in 2026?
Based on GuruFocus' analysis, National Gas CoOG stock appears to be overvalued.
The current stock price of ر.ع0.11 is trading 26.7% above its estimated GF Value™ of ر.ع0.09.
GuruFocus considers National Gas CoOG to be Modestly Overvalued.
Key valuation signals for MUS:NGCI:
EV-to-OCF: 3.10 (45% below median its 10-year median of 5.59)
GF Value™: ر.ع0.09 vs. price of ر.ع0.11 (26.7% above fair value)
Industry Position: 70.2% below the Utilities - Regulated median (#78 of 507)
No single metric tells the full story. See the MUS:NGCI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
National Gas Co SAOG operates as a Liquefied Petroleum Gas filling plant. The company is engaged in the marketing, selling, and distribution of LPG. The group's only business segment is the marketing and selling of LPG. It operates a large fleet of tankers to lift bulk LPG from refineries in the Sultanate to its plants where it is bottled into cylinders in safe and controlled conditions. The company has different sizes of tankers to meet customer demand and reduce distribution costs. The company has different departments for project and design which takes care of design, engineering, procurement, installation, commissioning and testing of all projects and post-sale services.
32GF Score
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