NYSE : TGS
Transportadora de Gas del Sur S.A. — Financial statements
Energy · Oil & Gas Integrated · Argentina
Last price 25.02 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 4.05B
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Financial statements
Transportadora de Gas del Sur S.A. (TGS) reported revenue of 1.82T ARS (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in ARS.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 1.82T | 1.72T | 1.60T | 1.30T | 1.12T | 173.32B |
| Operations & Maintenance | 81.45B | 81.45B | 71.70B | 58.08B | 43.84B | |
| Selling, General & Admin | 101.47B | 94.73B | 75.02B | 73.15B | 46.58B | 5.30B |
| Other Operating Expenses | 785.91B | 790.69B | 773.54B | 830.42B | 669.81B | 101.80B |
| Total Operating Expenses | 968.83B | 966.86B | 920.26B | 961.64B | 760.22B | 107.10B |
| Operating Income | 854.50B | 753.77B | 684.33B | 335.50B | 355.48B | 66.22B |
| Interest Expense | -133.39B | -88.65B | -73.29B | -70.55B | -46.10B | -8.70B |
| Interest Income | 38.64B | 32.70B | 30.58B | 69.29B | 12.44B | 1.54B |
| Net Interest Expense | -94.75B | -55.95B | -42.71B | -1.25B | -33.66B | -7.16B |
| Income (Loss) on Equity Investments | 2.31B | 3.73B | 320.72M | -87.08M | 611.26M | 41.35M |
| Currency Exchange Gain (Loss) | -84.41B | -111.85B | -77.38B | -598.31B | -163.86B | -12.40B |
| Other Non-Operating Income (Expenses) | -95.80B | -69.40B | -87.84B | -169.85B | 19.46B | 19.99B |
| EBT Excluding Unusual Items | 581.85B | 520.30B | 476.72B | -434.01B | 178.02B | 66.70B |
| Gain (Loss) on Sale of Investments | 246.96B | 174.03B | 236.29B | 560.92B | 163.62B | |
| Asset Writedown | -428.17M | -428.17M | 49.69B | |||
| Insurance Settlements | 4.57B | 4.57B | 1.52B | 63.23M | 196.66M | 730.85M |
| Legal Settlements | -144.36M | -144.36M | 1.53B | -2.01B | -1.04B | |
| Other Unusual Items | -54.28B | -54.28B | -6.99B | -806.84M | ||
| Pretax Income | 778.53B | 644.04B | 765.75B | 124.97B | 334.85B | 65.58B |
| Income Tax Expense | 292.93B | 223.18B | 278.80B | 57.60B | 115.70B | 24.81B |
| Earnings From Continuing Ops. | 485.60B | 420.86B | 486.95B | 67.37B | 219.16B | 40.77B |
| Minority Interest in Earnings | -489.00K | -489.00K | 278.00K | -1.64M | -80.00K | -6.00K |
| Net Income | 485.60B | 420.86B | 486.95B | 67.37B | 219.16B | 40.77B |
| Net Income to Common | 485.60B | 420.86B | 486.95B | 67.37B | 219.16B | 40.77B |
| Shares Outstanding (Basic) | 752.76M | 752.76M | 752.76M | 752.76M | 752.76M | 752.76M |
| Shares Outstanding (Diluted) | 752.76M | 752.76M | 752.76M | 752.76M | 752.76M | 752.76M |
| EPS (Basic) | 645.10 | 559.09 | 646.88 | 89.50 | 291.14 | 54.16 |
| EPS (Diluted) | 645.10 | 559.09 | 646.88 | 89.50 | 291.14 | 54.16 |
| Free Cash Flow | 30.14B | 231.20B | 255.67B | 156.09B | 68.54B | 40.23B |
| Free Cash Flow Per Share | 40.05 | 307.14 | 339.65 | 207.36 | 91.05 | 53.44 |
| Dividend Per Share | 269.28 | |||||
| Profit Margin | 26.63% | 24.46% | 30.35% | 5.19% | 19.64% | 23.52% |
| Free Cash Flow Margin | 1.65% | 13.44% | 15.93% | 12.03% | 6.14% | 23.21% |
| EBITDA | 1.06T | 945.65B | 844.82B | 499.09B | 481.33B | 83.93B |
| EBITDA Margin | 57.89% | 54.96% | 52.65% | 38.48% | 43.14% | 48.42% |
| D&A For EBITDA | 201.06B | 191.88B | 160.49B | 163.60B | 125.86B | 17.71B |
| EBIT | 854.50B | 753.77B | 684.33B | 335.50B | 355.48B | 66.22B |
| EBIT Margin | 46.87% | 43.81% | 42.65% | 25.86% | 31.86% | 38.21% |
| Effective Tax Rate | 37.63% | 34.65% | 36.41% | 46.09% | 34.55% | 37.83% |
Balance sheet
Fiscal year January - December; amounts in ARS.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 392.94B | 804.11B | 78.89B | 14.37B | 9.31B | 8.63B |
| Short-Term Investments | 347.08B | 355.92B | 357.30B | 229.37B | 4.48M | 3.72M |
| Trading Asset Securities | 1.59T | 648.15B | 611.64B | 473.72B | 122.35B | 25.84B |
| Accounts Receivable | 260.06B | 196.64B | 205.27B | 110.67B | 52.83B | 20.74B |
| Other Receivables | 471.77B | 23.27B | 19.28B | 31.99B | 19.66B | 4.94B |
| Inventory | 8.96B | 10.36B | 4.82B | 16.70B | 5.71B | 2.28B |
| Prepaid Expenses | 12.69B | 8.55B | 4.75B | 814.67M | ||
| Other Current Assets | 1.00M | 185.80B | 40.32B | 49.13B | 25.97B | 5.89B |
| Total Current Assets | 3.07T | 2.24T | 1.33T | 925.94B | 240.57B | 69.14B |
| Property, Plant & Equipment | 4.51T | 3.17T | 3.14T | 2.16T | 917.03B | 292.53B |
| Long-Term Investments | 6.66B | 5.34B | 1.61B | 234.40B | 125.55B | 43.78B |
| Long-Term Deferred Tax Assets | 5.95B | 51.73M | 6.46M | 85.36M | 46.28M | |
| Other Long-Term Assets | 427.00M | 431.40M | 575.39M | 78.38M | 46.40M | 17.25M |
| Total Assets | 7.60T | 5.41T | 4.47T | 3.32T | 1.28T | 405.52B |
| Accounts Payable | 243.37B | 100.45B | 100.85B | 90.86B | 32.73B | 11.80B |
| Accrued Expenses | 74.97B | 31.66B | 32.12B | 16.74B | 9.53B | 3.49B |
| Current Portion of Long-Term Debt | 181.80B | 236.31B | 92.86B | 118.19B | 8.58B | 1.08B |
| Current Unearned Revenue | 339.76B | 8.87B | 9.90B | 9.84B | 3.30B | 997.35M |
| Current Portion of Leases | 8.56B | 10.27B | 13.71B | 3.63B | 1.22B | |
| Current Income Taxes Payable | 146.68B | 52.63B | 230.85B | 3.10B | 25.79M | 17.07B |
| Other Current Liabilities | 1.98B | 8.76B | 8.52B | 7.89B | 8.20B | 3.81B |
| Total Current Liabilities | 988.57B | 447.23B | 485.36B | 260.32B | 66.00B | 39.47B |
| Long-Term Debt | 1.84T | 1.46T | 651.88B | 871.40B | 272.78B | 100.12B |
| Long-Term Leases | 1.23B | 8.12B | 23.78B | 9.65B | ||
| Long-Term Unearned Revenue | 162.13B | 137.86B | 146.96B | 119.36B | 36.49B | 10.96B |
| Long-Term Deferred Tax Liabilities | 299.92B | 240.52B | 235.08B | 184.19B | 66.17B | 20.06B |
| Other Long-Term Liabilities | 204.96M | 44.48M | ||||
| Total Liabilities | 3.29T | 2.29T | 1.53T | 1.46T | 451.13B | 170.61B |
| Common Stock | 1.20T | 752.76M | 752.76M | 752.76M | 339.15B | 752.76M |
| Retained Earnings | 3.19T | 2.23T | 2.04T | 1.18T | 518.09B | 134.05B |
| Treasury Stock | -88.91B | -71.86B | -125.73B | -95.57B | -34.02B | -10.92B |
| Comprehensive Income & Other | 7.75B | 970.79B | 1.02T | 778.73B | 8.93B | 111.02B |
| Total Common Equity | 4.31T | 3.13T | 2.94T | 1.86T | 832.16B | 234.91B |
| Minority Interest | 3.00M | 2.83M | 2.35M | 2.00M | 342.00K | 98.00K |
| Shareholders' Equity | 4.31T | 3.13T | 2.94T | 1.86T | 832.16B | 234.91B |
| Total Liabilities & Equity | 7.60T | 5.41T | 4.47T | 3.32T | 1.28T | 405.52B |
| Total Debt | 2.02T | 1.71T | 763.13B | 1.03T | 294.64B | 102.42B |
| Net Cash (Debt) | 310.05B | 102.57B | 284.71B | -309.63B | -162.97B | -67.95B |
| Net Cash Per Share | 411.89 | 136.26 | 378.22 | -411.32 | -216.50 | -90.26 |
| Filing Date Shares Outstanding | 752.76M | 752.76M | 752.76M | 752.76M | 752.76M | 752.76M |
| Total Common Shares Outstanding | 752.76M | 752.76M | 752.76M | 752.76M | 752.76M | 752.76M |
| Working Capital | 2.08T | 1.79T | 840.73B | 665.62B | 174.57B | 29.67B |
| Book Value Per Share | 5,725.10 | 4,155.19 | 3,903.17 | 2,475.35 | 1,105.47 | 312.06 |
| Tangible Book Value | 4.31T | 3.13T | 2.94T | 1.86T | 832.16B | 234.91B |
| Tangible Book Value Per Share | 5,725.10 | 4,155.19 | 3,903.17 | 2,475.35 | 1,105.47 | 312.06 |
| Buildings | 15.60B | |||||
| Machinery | 250.85B | |||||
| Construction In Progress | 19.23B |
Cash flow statement
Fiscal year January - December; amounts in ARS.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 485.60B | 420.86B | 486.95B | 67.37B | 219.16B | 40.77B |
| Depreciation & Amortization | 211.14B | 201.96B | 170.57B | 173.68B | 132.73B | 18.72B |
| Loss (Gain) on Sale of Investments | -250.22B | -176.50B | -246.52B | -571.61B | -143.60B | |
| Loss (Gain) on Equity Investments | -2.31B | -3.73B | -320.72M | 87.08M | -611.26M | -41.35M |
| Asset Writedown | 1.70B | 6.85B | -48.43B | 3.18B | 652.65M | |
| Change in Accounts Receivable | -78.25B | -70.31B | -158.99B | -111.37B | -52.98B | -10.69B |
| Change in Inventory | 13.43B | -6.70B | 5.27B | -16.72B | -4.50B | -1.17B |
| Change in Accounts Payable | 36.11B | 46.87B | 40.06B | 84.10B | 30.11B | 5.26B |
| Change in Income Taxes | -141.98B | -185.45B | 5.46B | -27.36B | -172.09B | -7.72B |
| Change in Unearned Revenue | 319.91B | -10.05B | -13.18B | 56.10B | 5.57B | -906.57M |
| Change in Other Net Operating Assets | -250.41B | -168.72B | -82.30B | -78.05B | -76.22B | -15.04B |
| Other Operating Activities | 591.08B | 496.60B | 478.35B | 963.64B | 301.95B | 29.96B |
| Operating Cash Flow | 935.81B | 551.67B | 636.92B | 543.06B | 240.15B | 59.02B |
| Capital Expenditures | -905.66B | -320.46B | -381.24B | -386.97B | -171.62B | -18.79B |
| Investment in Securities | -975.54B | -134.03B | -125.09B | -204.38B | -101.10B | -40.55B |
| Other Investing Activities | 22.82B | 354.49M | ||||
| Investing Cash Flow | -1.86T | -454.49B | -506.33B | -591.35B | -272.72B | -58.99B |
| Long-Term Debt Issued | 887.26B | 770.03B | 102.39B | 41.81B | ||
| Long-Term Debt Repaid | -1.41B | -811.27B | -31.77B | -17.22B | ||
| Lease Payments | -633.25M | -828.25M | -1.00B | -573.75M | ||
| Net Debt Issued (Repaid) | 1.12T | 885.85B | -41.24B | 70.62B | 24.59B | |
| Common Dividends Paid | -231.15B | |||||
| Other Financing Activities | 54.83B | -1.87B | ||||
| Financing Cash Flow | 1.18T | 654.69B | -41.24B | 70.62B | 24.59B | -1.87B |
| Foreign Exchange Rate Adjustments | -8.21B | 16.20B | 224.88M | 4.16B | 1.98B | 629.53M |
| Miscellaneous Cash Flow Adjustments | -122.68B | -42.85B | -29.58B | -34.25B | -32.25B | -3.85B |
| Net Cash Flow | 123.45B | 725.21B | 59.99B | -7.76B | -38.23B | -5.06B |
| Free Cash Flow | 30.14B | 231.20B | 255.67B | 156.09B | 68.54B | 40.23B |
| Free Cash Flow Margin | 1.65% | 13.44% | 15.93% | 12.03% | 6.14% | 23.21% |
| Free Cash Flow Per Share | 40.05 | 307.14 | 339.65 | 207.36 | 91.05 | 53.44 |
| Levered Free Cash Flow | -66.65B | -33.20B | 355.27B | -72.64B | 96.85B | 41.15B |
| Unlevered Free Cash Flow | 16.72B | 22.21B | 401.07B | -28.54B | 125.66B | 46.59B |
| Free Cash Flow After Leases | 29.51B | 230.38B | 254.67B | 155.52B | 68.54B | 40.23B |
| Cash Interest Paid | 102.62B | 65.03B | 42.18B | 45.22B | 38.82B | 7.30B |
| Cash Income Tax Paid | 176.53B | 186.11B | 5.25B | 32.03B | 174.20B | 8.36B |
| Change in Working Capital | -101.19B | -394.38B | -203.69B | -93.29B | -270.12B | -30.26B |
Ratios
Fiscal year January - December; amounts in ARS.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 3.83B | 4.84B | 5.13B | 2.75B | 3.45B | 1.33B |
| Enterprise Value | 3.63B | 4.77B | 5.04B | 2.80B | 3.68B | 1.71B |
| PE Ratio | 11.25 | 16.68 | 10.85 | 33.03 | 2.79 | 3.34 |
| PS Ratio | 3.21 | 4.08 | 3.29 | 1.72 | 0.55 | 0.79 |
| PB Ratio | 1.36 | 2.24 | 1.80 | 1.19 | 0.73 | 0.58 |
| P/FCF Ratio | 194.98 | 30.36 | 20.67 | 14.26 | 8.91 | 3.39 |
| P/OCF Ratio | 6.28 | 12.72 | 8.30 | 4.10 | 2.54 | 2.31 |
| EV/Sales Ratio | 3.04 | 4.03 | 3.24 | 1.74 | 0.58 | 1.01 |
| EV/EBITDA Ratio | 5.25 | 7.33 | 6.15 | 4.53 | 1.35 | 2.09 |
| EV/EBIT Ratio | 6.48 | 9.19 | 7.59 | 6.74 | 1.83 | 2.65 |
| EV/FCF Ratio | 184.72 | 29.97 | 20.32 | 14.49 | 9.52 | 4.36 |
| Debt / Equity Ratio | 0.47 | 0.55 | 0.26 | 0.55 | 0.35 | 0.44 |
| Debt / EBITDA Ratio | 1.89 | 1.78 | 0.89 | 2.02 | 0.60 | 1.21 |
| Debt / FCF Ratio | 66.97 | 7.38 | 2.98 | 6.58 | 4.30 | 2.55 |
| Net Debt / Equity Ratio | -0.07 | -0.03 | -0.10 | 0.17 | 0.20 | 0.29 |
| Net Debt / EBITDA Ratio | -0.29 | -0.11 | -0.34 | 0.62 | 0.34 | 0.81 |
| Net Debt / FCF Ratio | -10.29 | -0.44 | -1.11 | 1.98 | 2.38 | 1.69 |
| Quick Ratio | 3.10 | 4.54 | 2.62 | 3.30 | 3.09 | 1.52 |
| Current Ratio | 3.10 | 5.00 | 2.73 | 3.56 | 3.65 | 1.75 |
| Asset Turnover | 0.31 | 0.35 | 0.41 | 0.56 | 1.32 | 0.58 |
| Return on Equity (ROE) | 13.69% | 13.88% | 20.28% | 5.00% | 41.08% | 24.37% |
| Return on Assets (ROA) | 9.13% | 9.54% | 10.98% | 9.11% | 26.31% | 13.80% |
| Return on Capital Employed (ROCE) | 12.90% | 15.20% | 17.20% | 11.00% | 29.20% | 18.10% |
| Earnings Yield | 8.89% | 6.00% | 9.21% | 3.03% | 35.90% | 29.91% |
| FCF Yield | 0.51% | 3.29% | 4.84% | 7.01% | 11.23% | 29.51% |
| Dividend Yield | 3.84% | |||||
| Payout Ratio | 54.92% | |||||
| Buyback Yield / Dilution | 1.26% | |||||
| Total Shareholder Return | 3.84% | 1.26% |