MOL Magyar Olaj es Gazipari Nyrt MGYXY

EnergyOil & GasHungary

Last close 4.46 USD on Nov 1, 2026, – year to date

Quant rating

Quant rating C Rank 46 of 113 in Energy

Growth B 25 of 113
Valuation A 2 of 113
Quality B 41 of 113
Revisions B 20 of 113
Momentum D 112 of 113

Wall Street consensus Buy (2.20)Average target 14.91 USD +234.1%

Historical valuation

Valuation history unavailable.

Key data

Market cap: 12.5B
Enterprise value: 15.4B
52-week range: – – –
3-year range: – – –
Dividend yield: –
Beta (5 years): –
Shares outstanding: 819M
Next earnings: Nov 6, 2026

About the company

MOL Magyar Olaj es Gazipari Nyrt is a Hungary-based integrated oil and gas company. The Company's core activities include the exploration and production of crude oil, natural gas and gas products; the refining, storage and transportation of crude oil in retail and wholesale markets, and the importation, transportation, storage and wholesale trading of natural gas and other gas products. The Company specializes in exploration and production activities in the hydrocarbon field, such as: Upstream: Exploration and Production; Downstream; Refining and Petrochemicals; Gas midstream; Consumer services: Retail and Mobility. The Company forms a capital group with its subsidiaries, associated companies and joint ventures. It has operations in over 30 countries in Europe, the Middle East, Africa and Asia.

Growth and profitability

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	26,583	23,100	25,690	26,443	17,772	–
Revenue growth	15.1%	−10.1%	−2.8%	48.8%	31.5%	14.5%
EPS (basic, normalized)	1.23	1.35	2.32	3.75	2.31	–
EPS growth	−8.7%	−41.8%	−38.2%	62.7%	–	–
Gross margin	23.3%	21.9%	22.2%	24.7%	28.1%	24.0%
Net margin	3.4%	4.0%	6.0%	6.4%	8.4%	5.6%
ROE	7.1%	9.1%	14.2%	19.6%	19.4%	13.9%

Balance sheet, last quarter
Cash & short-term investments (mil)	1,659
Current ratio	1.27x
Long-term debt (mil)	2,432
Net debt (mil)	2,977
Total equity (mil)	13,126
Net debt / equity	0.23x
Net debt / EBITDA	0.89x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	26,583	+15.1%	0.6x	3,338	+10.6%	4.6x	1.23	−8.7%	3.6x
2026	29,662	+11.6%	0.5x	4,605	+38.0%	3.3x	2.75	+123.1%	1.6x
2027	28,622	−3.5%	0.5x	4,029	−12.5%	3.8x	2.37	−13.7%	1.9x
2028	29,043	+1.5%	0.5x	3,228	−19.9%	4.8x	1.54	−35.0%	2.9x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	29,662	+3.0%	+15.3%	+4.0%	2.75	+10.2%	+75.4%	+71.7%
2027	28,622	+3.9%	+16.7%	−0.7%	2.37	+2.2%	+42.4%	+51.7%
2028	29,043	+1.9%	+25.9%	+6.9%	1.54	+0.9%	+5.9%	+9.1%

Earnings surprises EPS beat in 1 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	2,046,208	2,372,642	2,464,100	2,295,704	2,171,244	2,198,746	2,267,569	2,058,724	2,017,128	2,909,571
Sales mean (mil)	2,318,713	2,312,493	2,321,968	2,456,431	2,107,859	1,791,526	2,184,571	2,165,166	2,274,213	2,357,305
Surprise	−11.8%	+2.6%	+6.1%	−6.5%	+3.0%	+22.7%	+3.8%	−4.9%	−11.3%	+23.4%
EPS reported	152.75	146.55	155.00	−13.39	240.41	59.77	127.00	17.00	52.00	298.53
EPS mean	162.21	183.17	154.80	78.11	132.75	111.54	192.85	124.02	89.05	147.83
Surprise	−5.8%	−20.0%	+0.1%	−117.1%	+81.1%	−46.4%	−34.1%	−86.3%	−41.6%	+101.9%

Peer comparison Oil & Gas

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
MGYXY MOL Magyar Olaj es Gazipari Nyrt	12.5B	0.89x	3.4%	0.78x	1.6x	1.9x	3.3x	3.8x
AR Antero Resources Corporation	12.9B	1.67x	12.0%	1.50x	10.1x	8.7x	5.6x	5.2x
RRC Range Resources Corporation	12.8B	–	21.9%	2.62x	13.1x	13.0x	8.0x	7.8x
MGYOY MOL Magyar Olaj es Gazipari Nyrt	12.5B	1.11x	3.4%	0.77x	–	–	–	–
IDKOY Idemitsu Kosan Co Ltd	11.8B	5.64x	2.1%	1.10x	18.3x	19.3x	8.5x	9.3x
KEY Keyera Corp.	11.6B	6.82x	6.3%	3.08x	23.9x	17.2x	15.8x	11.1x
Mean		3.22x	8.2%	1.64x	13.4x	12.0x	8.2x	7.4x
Median		1.67x	4.9%	1.30x	13.1x	13.0x	8.0x	7.8x

Technical analysis

1M–
3M–
1Y–
3Y–

Price history unavailable.

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, MOL Magyar Olaj es Gazipari Nyrt, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	26,583	23,100	25,690	26,443	17,772	13,516
Cost of revenue	20,391	18,052	19,979	19,908	12,783	10,087
Gross profit	6,191	5,048	5,711	6,535	4,989	3,428
Selling, general & administrative expenses	1,978	1,557	1,782	1,094	1,058	1,054
Research & development	–	–	–	–	–	–
Depreciation/amortization	1,960	1,275	1,360	1,274	1,476	1,526
Interest expense (income), operating	−18.7	0	−26.0	–	–	−97.0
Unusual expense (income)	−14.6	−72.8	−28.2	−29.0	−13.5	191
Other operating expenses	952	818	669	822	721	536
Operating income	1,334	1,472	1,954	3,374	1,748	219
Net interest income (expense)	269	−26.5	117	−241	10.9	−303
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−127	−80.7	−77.1	−37.4	−49.7	−64.1
Net income before taxes	1,476	1,365	1,994	3,096	1,709	−148
Provision for taxes	437	366	356	1,250	145	34.6
Minority interest	−128	−71.8	−108	−163	−71.5	121
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	911	927	1,529	1,684	1,493	−61.7
Extraordinary items	0	−103	−1.3	598	131	–
Net income	911	824	1,528	2,282	1,624	−61.7
EBIT, normalized	1,598	1,431	1,994	3,333	1,926	201
EBITDA, normalized	3,259	2,625	3,138	4,588	3,260	1,727
Basic EPS, normalized	1.23	1.35	2.32	3.75	2.31	–

Balance sheet in millions of USD, fiscal years

Balance sheet, MOL Magyar Olaj es Gazipari Nyrt, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	1,664	1,140	1,291	1,929	1,185	710
Receivables	2,768	2,687	2,857	2,549	2,352	1,825
Total inventory	2,385	2,216	2,395	2,672	2,166	1,555
Prepaid expenses	473	351	384	248	250	215
Other current assets	563	49.1	110	269	188	63.8
Total current assets	7,853	6,444	7,038	7,667	6,140	4,369
Property, plant & equipment	13,332	11,659	11,529	10,231	10,413	10,893
Goodwill	480	569	569	602	511	522
Intangibles	1,006	733	947	878	839	819
Long-term investments	1,618	1,337	1,314	1,192	1,139	1,062
Note receivable	33.8	36.6	202	237	233	169
Other long-term assets	722	547	616	544	770	802
Total assets	25,046	21,326	22,214	21,351	20,045	18,634
Liabilities
Accounts payable	2,462	2,268	2,774	2,684	2,614	1,852
Payable/accrued	–	–	–	–	–	–
Accrued expenses	904	748	801	777	747	598
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	1,166	730	535	1,256	572	1,084
Other current liabilities	1,735	1,068	1,205	2,069	1,185	1,101
Total current liabilities	6,267	4,816	5,315	6,786	5,118	4,635
Long-term debt	2,000	2,423	2,633	1,743	2,670	2,766
Minority interest	1,260	1,046	1,039	1,015	964	913
Other liabilities	2,833	2,362	2,162	2,071	2,734	2,862
Total liabilities	12,359	10,647	11,149	11,615	11,486	11,177
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	243	200	228	212	241	264
Additional paid-in capital	671	552	633	588	676	739
Retained earnings (accumulated deficit)	9,980	7,907	8,546	7,125	6,095	5,157
Treasury stock	–	–	–	–	–	–
Other equity	1,792	2,020	1,657	1,811	1,547	1,297
Total equity	12,686	10,680	11,065	9,736	8,559	7,457
Total liabilities & shareholders' equity	25,046	21,326	22,214	21,351	20,045	18,634

Cash flow statement in millions of USD, fiscal years

Cash flow statement, MOL Magyar Olaj es Gazipari Nyrt, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	1,476	1,365	1,994	3,096	1,825	−137
Depreciation, depletion & amortization	1,960	1,275	1,360	1,228	1,564	1,725
Deferred taxes	–	–	–	–	–	–
Non-cash items	−4.2	155	−116	1,025	425	298
Changes in working capital	−474	−722	−1,039	−1,627	−984	41.6
Cash from operations	2,958	2,072	2,199	3,721	2,829	1,928
Investing activities
Capital expenditures	−1,712	−1,508	−1,451	−1,650	−1,540	−1,490
Other investing cash flows	−270	218	55.3	−639	56.3	−1,178
Cash from investing	−1,982	−1,290	−1,396	−2,290	−1,484	−2,668
Financing activities
Financing cash flow items	−177	−196	−289	−137	−110	−64.7
Cash dividends paid	−657	−491	−662	−512	−195	0
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−189	−144	−187	−367	−535	140
Cash from financing	−1,023	−831	−1,138	−1,016	−840	75.6
Foreign exchange effects	−176	101	−191	195	32.1	232
Net change in cash	−223	51.9	−526	610	537	−431
Free cash flow	1,246	564	748	2,071	1,289	438

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.