IG Stock Analysis: Italgas | MI
Utilities - Regulated Gas | MI, Italy | Market Cap: 8.847m EUR | 12M Return: 18.7% | IT0005211237 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 27.4M
EPS Trend: 95.9%
Rev. Trend: 54.3%
Qual. Beats: 1
Warnings
Tailwinds
Seasonality 9.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Italgas S.p.A. is a Milan-based utility company founded in 1837 that primarily distributes natural gas across Italy, Greece, and other European Union markets through three reporting segments: Gas Distribution, Water Service, and Energy Efficiency. Its core operations include gas metering and transportation to households and enterprises, while the Water Service segment covers water collection, adduction, civil distribution, drainage, and wastewater purification. The company operated a gas distribution network of 156,655 kilometers and a water distribution network of 6,300 kilometers.
Italgas operates as a regulated network utility, with Italian gas distribution concessions granted by local municipalities and overseen by ARERA, the national energy and networks regulator. Its expansion into water services and energy efficiency reflects a broader diversification trend among European gas utilities seeking to leverage existing customer relationships and regulated asset bases beyond core gas transportation.
- ARERA tariff review drives gas distribution RAB returns
- Greek network acquisitions accelerate volume and revenue growth
- Italy energy transition policy threatens long-term gas demand
| Net Income: 1.02b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA 1.66 > 1.0 |
| NWC/Revenue: -14.69% < 20% (prev -15.37%; Δ 0.68% < -1%) |
| CFO/TA 0.08 > 3% & CFO 1.63b > Net Income 1.02b |
| Net Debt (-1.08b) to EBITDA (2.52b): -0.43 < 3 |
| Current Ratio: 0.78 > 1.5 & < 3 |
| Outstanding Shares: last quarter (1.02b) vs 12m ago 17.66% < -2% |
| Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin) |
| Asset Turnover: 25.81% > 50% (prev 16.19%; Δ 9.61% > 0%) |
| Interest Coverage Ratio: 7.69 > 6 (EBIT TTM 1.81b / Interest Expense TTM 235.4m) |
| A: -0.04 (Total Current Assets 2.45b - Total Current Liabilities 3.15b) / Total Assets 19.1b |
| B: 0.08 (Retained Earnings 1.55b / Total Assets 19.1b) |
| C: 0.10 (EBIT TTM 1.81b / Avg Total Assets 18.5b) |
| D: 0.25 (Book Value of Equity 3.77b / Total Liabilities 15.0b) |
| Altman-Z'' = 0.95 = BB |
| DSRI: 0.48 (Receivables 655.8m/819.4m, Revenue 4.77b/2.89b) |
| GMI: 0.98 (GM 94.25% / 96.19%) |
| AQI: 0.97 (AQ_t 0.84 / AQ_t-1 0.87) |
| SGI: 1.65 (Revenue 4.77b / 2.89b) |
| TATA: -0.03 (NI 1.02b - CFO 1.63b) / TA 19.1b) |
| Beneish M = -3.03 (Cap -4..+1) = AA |
As of August 24, 2026, the stock is trading at EUR 8.73 with a total of 3,103,034 shares traded. Over the past week, the price has changed by +1.56%, over one month by -12.22%, over three months by -15.04% and over the past year by +18.71%.
Current recommended Stop Loss: 8.40 (which is 3.8% or 1.8 ATR below the current price).
Italgas has no consensus analysts rating.
P/E Trailing = 12.42
P/E Forward = 11.8624
P/S = 2.286
P/B = 2.3414
P/EG = 2.8158
Revenue TTM = 4.77b EUR
EBIT TTM = 1.81b EUR
EBITDA TTM = 2.52b EUR
Long Term Debt = 10.4b EUR (from longTermDebt, last quarter)
Short Term Debt = 1.62b EUR (from shortLongTermDebt, last quarter)
Debt = 123.4m EUR (Leases only: 123.4m)
Net Debt = -1.08b EUR (calculated: Debt 123.4m - CCE 1.20b)
Enterprise Value = 7.77b EUR (8.85b + Debt 123.4m - CCE 1.20b)
Interest Coverage Ratio = 7.69 (Ebit TTM 1.81b / Interest Expense TTM 235.4m)
EV/FCF = 14.45x (Enterprise Value 7.77b / FCF TTM 537.8m)
FCF Yield = 6.92% (FCF TTM 537.8m / Enterprise Value 7.77b)
FCF Margin = 11.27% (FCF TTM 537.8m / Revenue TTM 4.77b)
Net Margin = 21.33% (Net Income TTM 1.02b / Revenue TTM 4.77b)
Gross Margin = unknown ((Revenue TTM 4.77b - Cost of Revenue TTM 181.8m) / Revenue TTM)
Tobins Q-Ratio = 0.41 (Enterprise Value 7.77b / Total Assets 19.1b)
Interest Expense / Debt = 190.8% (Interest Expense 235.4m / Debt 123.4m)
Taxrate = 28.29% (421.8m / 1.49b)
NOPAT = 1.30b (EBIT 1.81b * (1 - 28.29%))
Current Ratio = 0.78 (Total Current Assets 2.45b / Total Current Liabilities 3.15b)
Debt / Equity = 0.03 (Debt 123.4m / totalStockholderEquity, last quarter 3.77b)
Debt / EBITDA = -0.43 (Net Debt -1.08b / EBITDA 2.52b)
Debt / FCF = -2.00 (Net Debt -1.08b / FCF TTM 537.8m)
Total Stockholder Equity = 3.42b (last 4 quarters mean from totalStockholderEquity)
RoA = 5.50% (Net Income 1.02b / Total Assets 19.1b)
RoE = 29.73% (Net Income TTM 1.02b / Total Stockholder Equity 3.42b)
RoCE = 13.13% (EBIT 1.81b / Capital Employed (Equity 3.42b + L.T.Debt 10.4b))
RoIC = 8.21% (NOPAT 1.30b / Invested Capital 15.8b)
WACC = 5.69% (E(8.85b)/V(8.97b) * Re(5.77%) + (debt cost/tax rate unavailable))
Discount Rate = 5.77% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -15.39 | Cagr: 0.09%
[DCF] Terminal Value 77.97% ; FCFF base≈405.1m ; Y1≈464.4m ; Y5≈683.4m
[DCF] Fair Price = 11.16 (EV 10.3b - Net Debt -1.08b = Equity 11.4b / Shares 1.02b; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 95.92 | EPS CAGR: 13.07% | SUE: N/A | # QB: 0
Revenue Correlation: 54.34 | Revenue CAGR: 16.22% | SUE: 2.58 | # QB: 1
EPS current Quarter (2025-09-30): EPS=0.16 | Chg30d=N/A | Revisions=+0% | Analysts=1
EPS next Quarter (2026-03-31): EPS=0.17 | Chg30d=N/A | Revisions=+0% | Analysts=1
EPS current Year (2025-12-31): EPS=0.68 | Chg30d=+2.66% | Revisions=+62% | GrowthEPS=+9.6% | GrowthRev=+40.8%
EPS next Year (2026-12-31): EPS=0.74 | Chg30d=+0.05% | Revisions=+38% | GrowthEPS=+2.9% | GrowthRev=+12.3%
[Analyst] Revisions Ratio: +61% (up=13, down=2)