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French engineering company licensing membrane containment technology for LNG carriers and storage tanks.
French engineering company licensing membrane containment technology for LNG carriers and storage tanks.
Does not build ships: shipyards pay it a licence fee for each LNG carrier built with its membrane tank design, with the amount paid in stages over the build, so revenue follows new-ship orders a year or two before they show in earnings. Services and digital products for operating vessels bring a smaller, steadier income.
Moat: wide (IP / patents, process know-how). Patented membrane technology used in most of the world's LNG carriers, a near-monopoly niche.
Headquarters: Saint-Remy-les-Chevreuse, France · Founded: 1994 · Employees: 862
Size Gaztransport & Technigaz (GTT.PA) is a France Industrials company (Trucks/Construction/Farm Machinery) with a market value of $7.50B, the 54th largest of 206 France companies the cockpit tracks. Shares closed at €181.30 on 6 Nov 2026.
Performance Over six months the shares fell 12.6%, against -8.8% for the median peer and -0.4% for the France market (cap-weighted) — 10th lowest of 21 in its peer set.
Growth Revenue grew 9.0% over the last twelve months (peer median +9.5%); the operating margin is 63.5% (peer median 12.0%).
Valuation It trades at 16.1× forward earnings against a peer median of 16.1× (10th most expensive of 20).
Price implies For today's price to make sense, revenue must grow about -3% a year for seven years (Req g). Recent delivered growth is +15%, so the hurdle is -18 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 103.4 points above its cost of capital (7.8% WACC).
Next results Next results expected around 24 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €802M | €803M | €641M | €428M | €307M |
| Revenue growth | — | +25% | +50% | +39% | — |
| Gross profit | €557M | €570M | €416M | €244M | €183M |
| EBITDA | €537M | €536M | €388M | €230M | €155M |
| Net income | €444M | €414M | €348M | €201M | €128M |
| Free cash flow | €465M | €394M | €309M | €179M | €119M |
| Capital expenditure | €31.8M | €40.2M | €61.7M | €43.1M | €20.5M |
| Total debt | n/a | €126M | €14.5M | €8.34M | €4.05M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Gaztransport & Technigaz GTT.PA | $7.50B | -13% | +9% | 64% | 16.1× | -3.1% |
| Ihi 7013.T | $15.4B | -20% | +8% | 10% | 12.7× | 16.7% |
| Kawasaki Heavy Industries 7012.T | $10.9B | -39% | +9% | 6% | 13.8× | 20.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | GTT.PA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -16.2% | -6.6% | 6th lowest of 21 |
| 6-month return | -12.6% | -8.8% | 10th lowest of 21 |
| Distance from 52-week high | -20.1% | -30.9% | 6th highest of 21 |
| Revenue growth (TTM) | +9.0% | +9.5% | 11th highest of 21 |
| Operating margin | 63.5% | 12.0% | highest of 21 |
| Forward P/E | 16.1× | 16.1× | 10th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | -3.1% | 3.9% | 4th least demanding of 18 |
| Growth delivered (Del g) | +15.2% | +11.6% | 5th highest of 18 |
| Hurdle (Req g minus delivered) | -18.3 pp | -7.6 pp | 6th least demanding of 18 |
| ROIC minus cost of capital | +103.4 pp | +10.2 pp | highest of 19 |
| EV / EBITDA | 11.9× | 11.8× | 7th most expensive of 16 |
| Net debt / EBITDA | -0.5× | 1.3× | 3rd least indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Gaztransport & Technigaz GTT.PA | France | $7.50B | -13% | +9% | 64% | 16.1× | -3.1% | +15.2% |
| Konecranes KCR.HE | Finland | $7.47B | +5% | -1% | 13% | 15.9× | 9.1% | +5.7% |
| AGCO AGCO | United States | $7.61B | -6% | +1% | 6% | 17.1× | 10.5% | +2.0% |
| Accelleron Industries ACLN.SW | Switzerland | $7.29B | -25% | +13% | 25% | 25.1× | 3.5% | +12.1% |
| Mazagon Dock Shipbuilders MAZDOCK.NS | India | $7.87B | -31% | +8% | 15% | 30.5× | n/a | n/a |
| Doosan 000150.KS | South Korea | $7.10B | -60% | +11% | 6% | 16.1× | 15.0% | +11.6% |
| Weir WEIR.L | United Kingdom | $8.18B | -3% | +6% | 18% | 18.1× | 19.3% | +5.5% |
| Babcock International BAB.L | United Kingdom | $6.60B | 0% | +7% | 6% | 15.4× | 13.2% | +5.5% |
| Hitachi Construction Machinery 6305.T | Japan | $6.36B | -12% | +7% | 10% | 11.2× | 3.9% | +11.6% |
| Terex TEX | United States | $6.18B | -14% | +40% | 7% | 9.9× | 12.1% | +12.0% |
| Hyundai Rotem 064350.KS | South Korea | $5.75B | -73% | +12% | 15% | 9.7× | -4.0% | +16.0% |
| Toro TTC | United States | $9.92B | +10% | +5% | 11% | 21.2× | 5.6% | +6.0% |
| TKMS AG & Co. KGaA TKMS.DE | Germany | $5.57B | +8% | +15% | 5% | 39.8× | n/a | n/a |
| Alstom ALO.PA | France | $5.56B | -40% | +4% | 4% | n/a | 2.7% | +16.9% |
| SamsungHvyInd 010140.KS | South Korea | $10.2B | -50% | +30% | 27% | 13.3× | -20.3% | +11.4% |
| Kongsberg Maritime KMAR.OL | Norway | $5.43B | -1% | +6% | 13% | 21.8× | 0.9% | +6.3% |
| Hanwha Ocean 042660.KS | South Korea | $10.7B | -64% | +18% | 13% | 8.7× | -12.4% | +13.2% |
| Ashok Leyland ASHOKLEY.NS | India | $10.7B | +1% | +16% | 17% | 24.8× | n/a | n/a |
| Fincantieri FCT.MI | Italy | $4.98B | +3% | -1% | 0% | 21.5× | 1.2% | +9.1% |
| Seatrium 5E2.SI | Singapore | $4.77B | -19% | +11% | 4% | 13.0× | 4.0% | +50.0% |
| Zhejiang Dingli Machinery 603338.SS | China | $4.57B | +9% | +29% | 22% | 14.8× | 1.6% | +23.7% |