1. Taiwan Stocks

  2. •

    Utilities

  3. •

    Gas distributors
Shinhsiung Natural Gas Inc.

Shinhsiung Natural Gas Inc.

TTWSE:8908
40.15
TWD
+0.15
(+0.38%)
2.11EPS
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
17.91
19.04
16.98
15.64
19.05
22.98
26.24
20.09
20.59
22.9
22.07
25.87
32.99
32.62
Basic EPS, GAAP
0.71
0.83
0.66
0.63
0.85
1.04
1.27
1.22
1.53
1.68
1.65
1.82
2.16
2.11
Free Cash Flow per Basic Share
0.67
0.32
0.24
0.3
-0.1
1.21
1.74
-1.61
-0.67
-1.99
1.09
0.74
-0.5
0.04
Dividend per Share
- -
0.28
0.31
0.26
0.28
0.38
0.47
0.51
0.25
0.28
0.65
0.72
1.26
- -
Book Value per Share
4.56
5.11
5.45
5.82
6.4
7.06
7.86
8.67
9.93
11.39
12.43
13.36
14.16
13.04
Tangible Book Value per Share
4.56
5.11
5.45
5.82
6.4
7.06
7.86
8.67
9.93
11.39
12.43
13.36
14.16
13.04
Basic Weighted Avg Shares
315
315
315
315
315
315
315
315
315
315
315
315
315
315
Sales/Revenue/Turnover
5,648
6,004
5,355
4,931
6,007
7,246
8,274
6,335
6,494
7,220
6,960
8,157
10,390
10,268
Operating Margin (%)
4.83
5.3
4.81
4.96
5.46
5.7
6.12
7.36
9.39
9.21
9.54
9.13
8.19
8.22
Depreciation Expense
196
214
231
260
271
280
294
311
344
378
417
421
431
438
Net Income, GAAP
224
261
207
200
268
329
402
385
484
530
520
573
679
665
Effective Tax Rate (%)
16.96
16.98
17.46
17.95
17.24
19.82
20.02
19.45
20.35
19.84
20.39
21.11
20.03
19.95
Profit Margin (%)
3.97
4.36
3.86
4.05
4.47
4.54
4.86
6.08
7.45
7.34
7.47
7.03
6.54
6.47
Working Capital
-172
-126
-385
-490
-426
-380
-107
-202
41
-122
30
362
1,186
1,388
LT Debt
234
204
148
103
255
190
505
589
933
911
1,024
1,057
2,362
2,674
Total Equity
1,437
1,612
1,719
1,837
2,018
2,225
2,479
2,734
3,133
3,592
3,919
4,313
4,554
4,142
Return on Invested Capital (%)
10.96
11.99
8.99
7.9
9.8
10.82
12.17
9.79
10.69
10.14
8.83
8.98
8.97
8.67
Return on Capital (%)
11.3
12.25
8.99
8.08
9.93
11.07
12.42
10.28
10.91
10.41
9.08
9.18
9.36
9
Return on Common Equity (%)
16.94
17.15
12.42
11.23
13.93
15.49
17.08
14.79
16.49
15.77
13.84
14.1
15.67
16.2

Capital Structure

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
1,450
1,134
1,531
LT Borrowings
2,157
2,411
2,473
LT Finance Leases
205
204
200
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
314
314
310
Market Capitalization
- -
- -
- -

Working Capital

TWD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
5,125
5,310
5,168
Cash, Cash Equivalents & STI
1,560
1,605
1,461
Accounts Receivable, Net
783
930
983
Inventories
2,500
2,507
2,463
Total Current Liabilities
3,938
4,216
3,781
Payables & Accruals
- -
- -
- -
ST Debt
1,450
1,134
1,531
Deferred Revenue
- -
- -
- -

Growth Rates

TWD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
10.27%
10.8%
5.59%
Free Cash Flow
-183.18%
-42.74%
-167.18%
Net Income, GAAP
13.35%
12.38%
18.45%
Sales/Revenue/Turnover
7.99%
10.93%
27.37%
Total Cash Common Dividend
23.65%
35.37%
75.5%

Quarterly Revenue

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,726
1,748
1,984
2,699
8,157
2025
2,670
2,714
2,513
2,493
10,390
2026
2,416
2,845
- -
- -
- -

Quarterly Earnings Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.3
0.43
0.43
0.66
1.82
2025
0.5
0.57
0.47
0.61
2.16
2026
0.46
0.57
- -
- -
- -

Quarterly Dividends Per Share

TWD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.72
2025
- -
- -
- -
- -
1.26
2026
- -
- -
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Wen Huang Chu
Full Time Employees
141
Sector
Utilities
Industry
Gas distributors
Address
Kaohsiung City Taiwan
IPO Date
Feb 14, 1997
Website
shng.com.tw
Similar Companies
GAIL (India) Limited (NSE:GAIL)
Petronet Lng Limited (NSE:PETRONET)
Enerya Enerji A.S. (BIST:ENERY)
Ahlatci Dogal Gaz Dagitim Enerji ve Yatirim AS (BIST:AHGAZ)
Adani Total Gas Ltd. (NSE:ATGL)
Aygaz Anonim Sirketi (BIST:AYGAZ)
Business
Shinhsiung Natural Gas Inc. is a Taiwan-based utility company primarily engaged in the distribution and retail supply of piped natural gas, pipeline engineering and installation, and renewable energy generation. The company operates across three main business segments: Gas Distribution, Renewable Energy, and Real Estate Development. Within its core utility operations, the company offers piped natural gas transmission and supply for residential, commercial, and heavy industrial end-users; design, engineering, construction, and maintenance of natural gas transmission conduits and pipeline networks; installation, calibration, and servicing of electronic gas meters and microcomputer safety valves; and comprehensive gas piping inspection and 24-hour computerized safety dispatch services. Through its renewable energy operations, the company engages in the development, engineering, construction, operation, and maintenance of commercial rooftop and ground-mounted photovoltaic solar power stations; the wholesale generation and supply of renewable electricity; and distributed gas-fired electricity generation solutions for industrial customers. Through its property operations, the company engages in land acquisition, residential building development, construction contracting, and commercial property leasing. Headquartered in Kaohsiung City, Taiwan, Shinhsiung Natural Gas serves as the primary utility provider across 16 administrative districts and multiple key industrial complexes in the Greater Kaohsiung municipality, operating as the largest natural gas distributor in Southern Taiwan and the second largest in the nation by revenue. Founded in April 1986 as Shin Hsiung Petroleum Gas Co., Ltd., the company adopted its current corporate title in June 2004. In recent operational and structural developments, Shinhsiung Natural Gas officially transferred its public equity listing from the Taipei Exchange to the mainboard of the Taiwan Stock Exchange (TWSE: 8908) on October 16, 2026, strengthening its institutional capital access. Furthermore, the company has accelerated its multi-pillar energy transformation strategy, expanding its grid-connected solar photovoltaic capacity past 28 megawatts across Kaohsiung, Tainan, and Pingtung via its subsidiary Kai Tai Green Energy Co., Ltd., while extending operations into captive gas-fired power generation and commercial decarbonization services through subsidiary Xinya Zhongkang Energy, and monetizing property assets via completed project handovers including the Dunpin III residential development.