Transportadora de Gas del Sur S.A. (TGS) Key Metrics
TGS key metrics, 2016–2025
Fiscal year ended December 31, 2025 · Argentine pesosTGS returns How much profit the business earns on the capital it uses.
TGS financial health Debt, liquidity and how easily interest is covered.
TGS efficiency & capital use Working capital cycle and where the cash goes.
TGS returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
TGS debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
TGS cash returned to shareholders
TGS key metrics in Argentine pesos
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 18.3% | 18.1% | 3.8% | 41.1% | 84.4% | 16.9% | 66.6% | 63.0% | 71.2% | 44.1% |
| Return on invested capital (ROIC) | 22.7% | 17.7% | 9.0% | 36.0% | 60.9% | 31.6% | 52.0% | 54.0% | 54.0% | 32.9% |
| Return on assets (ROA) | 11.1% | 11.0% | 2.2% | 26.0% | 47.5% | 8.6% | 33.4% | 30.2% | 24.7% | 11.9% |
| Return on tangible assets | 9.1% | 10.9% | 1.5% | 17.1% | 31.3% | 7.5% | 27.5% | 18.4% | 20.4% | 10.4% |
| Free cash flow margin | 0.0% | 21.0% | 16.1% | 6.4% | 23.8% | 12.7% | −2.4% | 13.9% | 18.1% | 20.8% |
| Income quality (OCF / net income) | 0.00 | 1.72 | 10.60 | 1.10 | 0.26 | 2.95 | 0.51 | 1.12 | 1.26 | 2.30 |
| Financial health | ||||||||||
| Total debt | ARS 1.67T | ARS 528.15B | ARS 918.21B | ARS 288.97B | ARS 102.42B | ARS 59.74B | ARS 35.92B | ARS 31.45B | ARS 5.97B | ARS 3.89B |
| Cash & short-term investments | ARS 1.81T | ARS 796.54B | ARS 717.45B | ARS 131.66B | ARS 34.48B | ARS 6.79B | ARS 10.81B | ARS 16.65B | ARS 4.32B | ARS 1.63B |
| Net debt | −ARS 135.04B | −ARS 268.39B | ARS 200.76B | ARS 157.31B | ARS 67.95B | ARS 52.94B | ARS 25.11B | ARS 14.80B | ARS 1.65B | ARS 2.26B |
| Debt / equity | 0.53 | 0.24 | 0.49 | 0.35 | 0.44 | 0.90 | 0.75 | 1.02 | 1.12 | 1.54 |
| Debt / assets | 0.31 | 0.16 | 0.28 | 0.23 | 0.25 | 0.46 | 0.38 | 0.51 | 0.44 | 0.44 |
| Net debt / EBITDA | −0.13 | −0.42 | 0.72 | 0.31 | 0.23 | 1.05 | 0.54 | 0.78 | 0.33 | 0.88 |
| Current ratio | 5.00 | 2.73 | 3.56 | 3.65 | 1.75 | 1.95 | 2.63 | 3.24 | 1.55 | 1.76 |
| Quick ratio | 4.56 | 2.72 | 3.49 | 3.56 | 1.69 | 1.88 | 2.59 | 3.19 | 1.53 | 1.70 |
| Interest coverage | 8.3 | 10.1 | 4.7 | 7.7 | 7.6 | — | 108.1 | 8.5 | 10.1 | 5.2 |
| Working capital | ARS 1.79T | ARS 639.10B | ARS 665.62B | ARS 174.57B | ARS 29.67B | ARS 7.69B | ARS 12.99B | ARS 16.02B | ARS 2.55B | ARS 1.44B |
| Invested capital | ARS 2.99T | ARS 1.97T | ARS 2.06T | ARS 989.47B | ARS 302.85B | ARS 118.97B | ARS 73.19B | ARS 45.74B | ARS 6.97B | ARS 4.79B |
| Tangible asset value | ARS 3.13T | ARS 2.23T | ARS 1.86T | ARS 832.16B | ARS 234.91B | ARS 66.03B | ARS 48.08B | ARS 30.95B | ARS 5.32B | ARS 2.53B |
| Net current asset value | −ARS 49.38B | −ARS 153.03B | −ARS 533.33B | −ARS 210.56B | −ARS 101.48B | −ARS 46.77B | −ARS 26.58B | −ARS 7.83B | −ARS 1.19B | −ARS 3.06B |
| Capital allocation | ||||||||||
| Dividends paid | ARS 185.6M | ARS 0 | ARS 0 | ARS 0 | ARS 0 | ARS 16,000 | ARS 9.76B | ARS 4.33B | ARS 6,000 | ARS 99.7M |
| Share buybacks (net) | — | — | — | — | ARS 0 | ARS 2.72B | ARS 2.59B | ARS 1.42B | ARS 0 | ARS 0 |
| Dividend payout ratio | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 37.1% | 37.9% | 0.0% | 10.7% |
| Dividends + buybacks / free cash flow | 100.0% | 0.0% | 0.0% | 0.0% | 0.0% | 13.1% | — | 123.1% | 0.0% | 6.5% |
| Capex / revenue | 0.0% | 31.3% | 40.0% | 15.9% | 11.1% | 4.8% | 16.0% | 24.1% | 10.7% | 8.1% |
| Capex / operating cash flow | 58.1% | 59.9% | 71.3% | 71.5% | 178.1% | 27.2% | 118.0% | 63.5% | 37.1% | 27.9% |
| Capex / depreciation | 0.00 | 2.94 | 2.93 | 1.29 | 1.00 | 1.26 | 4.31 | 3.65 | 3.65 | 2.08 |
| Stock-based compensation / revenue | — | — | −42.9% | — | −0.2% | 6.6% | 2.4% | — | −3.0% | 5.6% |
| SG&A / revenue | 3.9% | 3.8% | 5.0% | 3.5% | 2.7% | 2.6% | 8.2% | 8.1% | 7.4% | 9.0% |
| Efficiency | ||||||||||
| Days sales outstanding | 35.9 | 46.9 | 40.6 | 16.6 | 11.3 | 17.1 | 22.6 | 34.5 | 57.3 | 64.6 |
| Days of inventory on hand | 39.5 | 6.6 | 6.6 | 2.2 | 1.8 | 2.0 | 2.4 | 5.3 | 6.2 | 5.2 |
| Days payables outstanding | 35.0 | 54.0 | 36.4 | 12.5 | 9.2 | 15.6 | 26.3 | 51.2 | 67.6 | 57.8 |
| Cash conversion cycle (days) | 40.3 | -0.5 | 10.8 | 6.3 | 3.9 | 3.5 | -1.2 | -11.5 | -4.0 | 12.0 |
| Receivables turnover | 10.18 | 7.79 | 8.99 | 21.98 | 32.20 | 21.34 | 16.14 | 10.57 | 6.37 | 5.65 |
| Payables turnover | 10.42 | 6.76 | 10.03 | 29.21 | 39.54 | 23.43 | 13.90 | 7.12 | 5.40 | 6.32 |
| Inventory turnover | 9.25 | 55.65 | 55.34 | 163.06 | 202.91 | 184.38 | 149.99 | 69.44 | 58.54 | 70.80 |
| Asset turnover | 0.45 | 0.36 | 0.42 | 1.28 | 1.97 | 1.46 | 1.26 | 0.89 | 1.08 | 0.95 |
| Average receivables | ARS 195.37B | ARS 156.68B | ARS 107.57B | ARS 49.08B | ARS 16.36B | ARS 7.65B | ARS 6.16B | ARS 3.18B | ARS 1.92B | ARS 1.31B |
| Average payables | ARS 88.57B | ARS 83.79B | ARS 61.82B | ARS 22.30B | ARS 7.31B | ARS 3.46B | ARS 3.60B | ARS 2.27B | ARS 1.21B | ARS 701.9M |
| Average inventory | ARS 99.78B | ARS 10.18B | ARS 11.21B | ARS 3.99B | ARS 1.42B | ARS 439.6M | ARS 334.0M | ARS 233.1M | ARS 111.4M | ARS 62.7M |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from TGS's annual financial statements (latest annual report filed April 22, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in Argentine pesos; data from EODHD. Averages use the opening and closing balance of each year.
TGS valuation and financial ratios
Transportadora de Gas del Sur earned a return on equity of 18.3% and a return on invested capital of 22.7% in fiscal 2025. It ended the year with ARS 1.67 trillion of debt and ARS 1.81 trillion in cash and short-term investments, a net cash position of ARS 135.0 billion. It returned ARS 185.6 million to shareholders: ARS 185.6 million in dividends and ARS 0 in share buybacks, 100% of free cash flow.
See the TGS income statement, the TGS chart for price history, or the TGS stock overview for the latest quote and news.
TGS key metrics FAQ
What is Transportadora de Gas del Sur's return on equity?
Transportadora de Gas del Sur's return on equity (ROE) was 18.3% in fiscal 2025: net income of ARS 490.3 billion on average shareholders' equity of ARS 2.68 trillion.
What is Transportadora de Gas del Sur's ROIC?
Transportadora de Gas del Sur's return on invested capital was 22.7% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Transportadora de Gas del Sur have?
Transportadora de Gas del Sur had total debt of ARS 1.67 trillion at the end of fiscal 2025, a debt-to-equity ratio of 0.53 and more cash than debt.
What is Transportadora de Gas del Sur's current ratio?
Transportadora de Gas del Sur's current ratio was 5.00 at the end of fiscal 2025: current assets were 5.00 times current liabilities.