Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Petronas Gas BhdPNAGF 73 Return-on-Tangible-Asset is 9.05% as of Mar. 2026, which is 11% below its 10-year median of 10.12. GuruFocus rates PNAGF with a GF Score™ of 73/100 and a GF Value™ of $3.93 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 1,025 Oil & Gas companies, Petronas Gas Bhd ranks better than 82.83% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Petronas Gas Bhd's annualizedNet Income for the quarter that ended in Mar. 2026 was $444 Mil. Petronas Gas Bhd's average total tangible assets for the quarter that ended in Mar. 2026 was $4,910 Mil. Therefore, Petronas Gas Bhd's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 9.05%.
The historical rank and industry rank for Petronas Gas Bhd's Return-on-Tangible-Asset or its related term are showing as below:
PNAGF'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 8.47 Med: 10.12 Max: 11.24
Current: 8.77
During the past 13 years, Petronas Gas Bhd's highest Return-on-Tangible-Asset was 11.24%. The lowest was 8.47%. And the median was 10.12%.
PNAGF's Return-on-Tangible-Asset is ranked better than 82.83% of 1025
companies
in the Oil & Gas industry
Industry Median: 2.09
vs PNAGF: 8.77
Petronas Gas Bhd (OTCPK:PNAGF) Return-on-Tangible-Asset Explanation
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Petronas Gas Bhd Return-on-Tangible-Asset Related Terms
Petronas Gas Bhd Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Petronas Gas Bhd's Return-on-Tangible-Asset 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.
PNAGF vs XOM, CVX: Return-on-Tangible-Asset Comparison
For the Oil & Gas Integrated subindustry, Petronas Gas Bhd's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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.
Petronas Gas Bhd Return-on-Tangible-Asset vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Petronas Gas Bhd's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Petronas Gas Bhd's Return-on-Tangible-Asset falls into.
* 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.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 9.05% mean?
Petronas Gas Bhd (PNAGF) has a Return-on-Tangible-Asset of 9.05% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Petronas Gas Bhd and its competitors. This is 11% below median its historical median of 10.12. Over the past decade, Petronas Gas Bhd's Return-on-Tangible-Asset has ranged from 8.47 to 11.24. According to the industry distribution chart, Petronas Gas Bhd ranks #176 out of 1025 companies in the Oil & Gas industry, placing it in the top 17.2%.
Is Petronas Gas Bhd's Return-on-Tangible-Asset too high?
Petronas Gas Bhd's current Return-on-Tangible-Asset of 9.05% is 11% below median its 10-year median of 10.12. Over the past 10 years, this metric has ranged from a low of 8.47 to a high of 11.24. The Oil & Gas industry median Return-on-Tangible-Asset is 2.09. Petronas Gas Bhd's value of 9.05% is 333% above this industry median. Based on the distribution chart, Petronas Gas Bhd ranks #176 out of 1025 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, Petronas Gas Bhd has a GF Score™ of 73/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Petronas Gas Bhd's Return-on-Tangible-Asset compare to XOM and CVX?
According to the Oil & Gas industry distribution chart, Petronas Gas Bhd ranks #176 out of 1025 companies for Return-on-Tangible-Asset. This places Petronas Gas Bhd in the top 17% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 2.09. Petronas Gas Bhd's value of 9.05% is 333% above this benchmark. Historically, Petronas Gas Bhd's own Return-on-Tangible-Asset has ranged from 8.47 to 11.24 over the past decade. While the company's 10-year median is 10.12 vs. the industry median of 2.09, Petronas Gas Bhd has consistently been above 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 Return-on-Tangible-Asset for an Oil & Gas company?
The median Return-on-Tangible-Asset among Oil & Gas companies is 2.09, based on 1,025 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Petronas Gas Bhd's current Return-on-Tangible-Asset of 9.05% is 333% above 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 Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Petronas Gas Bhd and its competitors. For the Oil & Gas industry, the median Return-on-Tangible-Asset is 2.09 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Petronas Gas Bhd's current Return-on-Tangible-Asset is 9.05%, which is 11% below median its own 10-year median of 10.12. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Petronas Gas Bhd stock overvalued right now?
Based on GuruFocus' analysis, Petronas Gas Bhd (PNAGF) is currently considered Modestly Overvalued. The stock's GF Value™ is $3.93, compared to a current price of $4.45 — trading 13.2% above its estimated fair value. The current Return-on-Tangible-Asset is 9.05%, which is 11% below median its 10-year median of 10.12 and 333% above the Oil & Gas industry median of 2.09. Petronas Gas Bhd's overall GF Score™ is 73/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Petronas Gas Bhd (PNAGF), the current Return-on-Tangible-Asset is 9.05% as of Mar. 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 Petronas Gas Bhd (PNAGF) Overvalued in 2026?
Based on GuruFocus' analysis, Petronas Gas Bhd stock appears to be overvalued.
The current stock price of $4.45 is trading 13.2% above its estimated GF Value™ of $3.93.
GuruFocus considers Petronas Gas Bhd to be Modestly Overvalued.
Key valuation signals for PNAGF:
Return-on-Tangible-Asset: 9.05% (11% below median its 10-year median of 10.12)
GF Value™: $3.93 vs. price of $4.45 (13.2% above fair value)
Industry Position: 333% above the Oil & Gas median (#176 of 1025)
No single metric tells the full story. See the PNAGF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Petronas Gas Bhd is a Malaysian gas infrastructure and utilities company, of which Malaysia's nationalized oil corporation, PETRONAS, holds a majority interest. Petronas Gas segments its primary operations into Gas Processing, Gas Transportation, Utilities, and Regasification businesses. While each of these contributes significantly to the company's total revenue, its Utilities and Gas Processing units combine to generate the majority. In Gas Processing, Petronas Gas receives processing fees under multi-year contracts by processing natural gas piped offshore for its parent company, PETRONAS. The Gas Transportation business encompasses the transmission of offshore natural gas through pipelines to customers in Malaysia and Singapore under multi-year agreements with PETRONAS.
73GF Score
Get the complete analysis for PNAGF
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
PNAGF has been successfully added to your 
