March 2026
IGAS AI-Orchestrator™ by RapidKnowHow
Independent Board Intelligence for Industrial Gas Volatility & ROCE Governance
🔷 Composite Governance Score
March 2026: 60 / 100
Status: Structural Risk Zone
February 2026: 57
Δ +3
🔷 Sub-Index Breakdown
| Sub-Index | March | February | Δ | Status |
|---|---|---|---|---|
| Energy Shock Intensity | 58 | 57 | +1 | Amber |
| PTE Stress | 64 | 62 | +2 | Red |
| Merchant Exposure Risk | 61 | 60 | +1 | Amber |
| Capital & ROCE Pressure | 55 | 57 | −2 | Amber |
🔷 What the Index Measures (Simple Explanation)
The IGAS Volatility Index™ measures structural volatility pressure on Industrial Gas operators.
It integrates:
- Energy cost instability
- Pass-through effectiveness (PTE) discipline
- Merchant exposure sensitivity
- Capital & ROCE stress dynamics
The higher the score, the stronger the governance pressure on Free Cash Flow, ROCE, and Market Value.
🔷 Transmission Overview
Energy + PTE + Merchant + Capital Pressure
↓
Free Cash Flow Sensitivity
↓
ROCE Stability
↓
Market Value Stability
🔷 Governance Interpretation
Composite 60 indicates continued structural volatility pressure.
Δ +3 reflects incremental transmission stress, primarily driven by PTE deterioration.
Governance relevance increases when composite exceeds 60.
IGAS AI-Orchestrator™
by RapidKnowHow
