Adani Total GasNSE:ATGL +0.06%93 ROE % is 13.84% as of Mar. 2026, which is 32% below its 10-year median of 20.46. GuruFocus rates NSE:ATGL with a GF Score™ of 93/100 and a GF Value™ of ₹843.41 (Modestly Undervalued). The stock has 8 warning signs investors should review. Among 503 Utilities - Regulated companies, Adani Total Gas ranks better than 78.73% on this metric.
The historical rank and industry rank for Adani Total Gas's ROE % or its related term are showing as below:
NSE:ATGL'
s ROE % Range Over the Past 10 Years
Min: 14.46 Med: 20.46 Max: 33.92
Current: 14.48
During the past 12 years, Adani Total Gas's highest ROE % was 33.92%. The lowest was 14.46%. And the median was 20.46%.
NSE:ATGL's ROE % is ranked better than 78.73% of 503
companies
in the Utilities - Regulated industry
Industry Median: 8.62
vs NSE:ATGL: 14.48
Adani Total Gas (NSE:ATGL) ROE % Explanation
ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.
The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:
Note:
The net income data used here is four times the quarterly (Mar. 2026) net income data. The Revenue data used here is four times the quarterly (Mar. 2026) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.
* 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.
Be Aware
Net Income is used.
Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their ROE %s can be extremely high.
Adani Total Gas ROE % Related Terms
Adani Total Gas ROE % Historical Data
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The historical data trend for Adani Total Gas's ROE % 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, Adani Total Gas's ROE %, along with its competitors' market caps and ROE % 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.
Adani Total Gas ROE % vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Adani Total Gas's ROE % distribution charts can be found below:
* The bar in red indicates where Adani Total Gas's ROE % 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 ROE %, the net income of the last fiscal year and the average total shareholder equity 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.
ROE % is displayed in the 30-year financial page.
Adani Total Gas (NSE:ATGL) has a ROE % of 13.84% as of Mar. 2026. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Adani Total Gas and its competitors. This is 32% below median its historical median of 20.46. Over the past decade, Adani Total Gas' ROE % has ranged from 14.46 to 33.92. According to the industry distribution chart, Adani Total Gas ranks #107 out of 503 companies in the Utilities - Regulated industry, placing it in the top 21.3%.
Is Adani Total Gas' ROE % too high?
Adani Total Gas' current ROE % of 13.84% is 32% below median its 10-year median of 20.46. Over the past 10 years, this metric has ranged from a low of 14.46 to a high of 33.92. The Utilities - Regulated industry median ROE % is 8.62. Adani Total Gas' value of 13.84% is 60.6% above this industry median. Based on the distribution chart, Adani Total Gas ranks #107 out of 503 companies in the Utilities - Regulated industry, which is in the top quartile — a strong position relative to peers. Overall, Adani Total Gas has a GF Score™ of 93/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Adani Total Gas' ROE % compare to ATO and NI?
According to the Utilities - Regulated industry distribution chart, Adani Total Gas ranks #107 out of 503 companies for ROE %. This places Adani Total Gas in the top 21% of its industry — outperforming the majority of peers. The industry median ROE % is 8.62. Adani Total Gas' value of 13.84% is 60.6% above this benchmark. Historically, Adani Total Gas' own ROE % has ranged from 14.46 to 33.92 over the past decade. While the company's 10-year median is 20.46 vs. the industry median of 8.62, Adani Total Gas 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 ROE % for an Utilities - Regulated company?
The median ROE % among Utilities - Regulated companies is 8.62, based on 503 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Adani Total Gas's current ROE % of 13.84% is 60.6% 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 ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on Adani Total Gas and its competitors. For the Utilities - Regulated industry, the median ROE % is 8.62 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Adani Total Gas's current ROE % is 13.84%, which is 32% below median its own 10-year median of 20.46. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Adani Total Gas stock overvalued right now?
Based on GuruFocus' analysis, Adani Total Gas (NSE:ATGL) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹843.41, compared to a current price of ₹719.80 — trading 14.7% below its estimated fair value. The current ROE % is 13.84%, which is 32% below median its 10-year median of 20.46 and 60.6% above the Utilities - Regulated industry median of 8.62. Adani Total Gas' overall GF Score™ is 93/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % calculated?
ROE % is calculated from a company's financial statements. For Adani Total Gas (NSE:ATGL), the current ROE % is 13.84% 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 Adani Total Gas (NSE:ATGL) Overvalued in 2026?
Based on GuruFocus' analysis, Adani Total Gas stock appears to be undervalued.
The current stock price of ₹719.80 is trading 14.7% below its estimated GF Value™ of ₹843.41.
GuruFocus considers Adani Total Gas to be Modestly Undervalued.
Key valuation signals for NSE:ATGL:
ROE %: 13.84% (32% below median its 10-year median of 20.46)
GF Value™: ₹843.41 vs. price of ₹719.80 (14.7% below fair value)
Industry Position: 60.6% above the Utilities - Regulated median (#107 of 503)
No single metric tells the full story. See the NSE:ATGL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Adani Total Gas Ltd is engaged in the City Gas Distribution (CGD) business and supplies natural gas to domestic, commercial, industrial, and vehicle users. The company is exploring doing business in bio gas, bio fuel, bio mass, LCNG, HCNG, EV, Hydrogen, manufacturing of various equipment, and provision of value-added services relating to CGD business. It is developing City Gas Distribution (CGD) Networks to supply the Piped Natural Gas (PNG) to the Industrial, Commercial, Domestic (residential), and Compressed Natural Gas (CNG) to the transport sector. Natural Gas is a convenient, reliable, and environmentally friendly fuel that allows consumers to enjoy a high level of safety, convenience, and economic efficiency. The Group has a single operating segment that is the sale of Natural Gas.
93GF Score
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