(SPM) Saipem SpA - Overview

Sector: Energy | Industry: Oil & Gas Equipment & Services | Exchange: MI (Italy) | Market Cap: 9.038m EUR | Total Return: 121.8% in 12m

Offshore Drilling, Pipelines, Subsea Infrastructure, Energy Engineering
Total Rating 58
Safety 63
Buy Signal 0.13
Oil & Gas Equipment & Services
Industry Rotation: +9.3
Market Cap: 10.6B
Avg Turnover: 133M
Risk 3d forecast
Volatility34.8%
VaR 5th Pctl6.15%
VaR vs Median7.40%
Reward TTM
Sharpe Ratio2.63
Rel. Str. IBD93.5
Rel. Str. Peer Group77.6
Character TTM
Beta0.824
Beta Downside0.753
Hurst Exponent0.480
Drawdowns 3y
Max DD41.11%
CAGR/Max DD1.46
CAGR/Mean DD6.77
EPS (Earnings per Share) EPS (Earnings per Share) of SPM over the last years for every Quarter: "2021-03": -4.95, "2021-06": -25.95, "2021-09": -9.71, "2021-12": -2.61, "2022-03": -4, "2022-06": -0.01, "2022-09": -0.004, "2022-12": -0.0356, "2023-03": 0, "2023-06": 0.02, "2023-09": 0.02, "2023-12": 0.05, "2024-03": 0.03, "2024-06": 0.03, "2024-09": 0.04, "2024-12": 0.05, "2025-03": 0.0386, "2025-06": 0.03, "2025-09": 0.04, "2025-12": 0.04, "2026-03": 0.04,
EPS CAGR: 30.73%
EPS Trend: 77.3%
Last SUE: 0.00
Qual. Beats: 0
Revenue Revenue of SPM over the last years for every Quarter: 2021-03: 1618, 2021-06: 1582, 2021-09: 1864, 2021-12: 1811, 2022-03: 1942, 2022-06: 2245, 2022-09: 2856, 2022-12: 2937, 2023-03: 2582, 2023-06: 2766, 2023-09: 3016, 2023-12: 3518, 2024-03: 3047, 2024-06: 6418, 2024-09: null, 2024-12: 8131, 2025-03: 3519, 2025-06: 7215, 2025-09: 3772, 2025-12: 8289, 2026-03: null,
Rev. CAGR: 50.02%
Rev. Trend: 84.2%
Last SUE: 0.25
Qual. Beats: 0

Warnings

No concerns identified

Tailwinds

Supp Ema20, Leader, Tailwind

Description: SPM Saipem SpA

Saipem SpA is an Italian engineering and construction firm specializing in complex infrastructure and energy projects. The company operates across three primary segments: Asset Based Services, Offshore Drilling, and Energy Carriers. Its portfolio includes subsea field development, offshore wind installation, high-speed rail construction, and decommissioning services for the oil and gas industry.

The company functions within the Oil & Gas Equipment & Services sector, a capital-intensive industry where revenue is largely driven by the capital expenditure cycles of global integrated energy firms. Saipem utilizes a project-based business model, securing long-term contracts for the engineering, procurement, construction, and installation (EPCI) of both offshore and onshore facilities.

To better understand the companys current backlog and debt profile, consider reviewing the detailed financial breakdowns on ValueRay.

Founded in 1957 and headquartered in Milan, Saipem provides integrated solutions ranging from robotics to sustainable marine infrastructure. Its operational scope extends from traditional hydrocarbon extraction support to emerging renewable energy and civil engineering markets.

Headlines to Watch Out For
  • High backlog execution in subsea and offshore engineering drives revenue growth
  • Rising global demand for offshore drilling rigs improves day rates and margins
  • Capital expenditure shifts toward offshore wind and carbon capture projects diversify earnings
  • Fluctuating crude oil prices dictate capital investment cycles of major energy clients
  • Debt reduction progress and cash flow stability influence long-term credit ratings
Piotroski VR‑10 (Strict) 6.0
Net Income: 468.0m TTM > 0 and > 6% of Revenue
FCF/TA: 0.08 > 0.02 and ΔFCF/TA 5.03 > 1.0
NWC/Revenue: 3.20% < 20% (prev -5.44%; Δ 8.64% < -1%)
CFO/TA 0.16 > 3% & CFO 2.35b > Net Income 468.0m
Net Debt (-1.16b) to EBITDA (1.98b): -0.58 < 3
Current Ratio: 1.09 > 1.5 & < 3
Outstanding Shares: last quarter (1.94b) vs 12m ago -2.75% < -2%
Gross Margin: 30.66% > 18% (prev 0.28%; Δ 3.04k% > 0.5%)
Asset Turnover: 240.6% > 50% (prev 468.8%; Δ -228.1% > 0%)
Interest Coverage Ratio: 6.14 > 6 (EBITDA TTM 1.98b / Interest Expense TTM 162.0m)
Altman Z'' 1.30
A: 0.05 (Total Current Assets 9.12b - Total Current Liabilities 8.39b) / Total Assets 14.44b
B: 0.05 (Retained Earnings 693.0m / Total Assets 14.44b)
C: 0.11 (EBIT TTM 995.0m / Avg Total Assets 9.47b)
D: 0.10 (Book Value of Equity 1.20b / Total Liabilities 11.80b)
Altman-Z'' Score: 1.30 = BB
Beneish M -3.05
DSRI: 1.49 (Receivables 4.61b/2.86b, Revenue 22.80b/21.11b)
GMI: 0.92 (GM 30.66% / 28.14%)
AQI: 0.54 (AQ_t 0.10 / AQ_t-1 0.18)
SGI: 1.08 (Revenue 22.80b / 21.11b)
TATA: -0.13 (NI 468.0m - CFO 2.35b) / TA 14.44b)
Beneish M-Score: -3.05 (Cap -4..+1) = AA
What is the price of SPM shares? As of May 16, 2026, the stock is trading at EUR 4.66 with a total of 30,280,243 shares traded.
Over the past week, the price has changed by +8.16%, over one month by +12.44%, over three months by +37.44% and over the past year by +121.83%.
Is SPM a buy, sell or hold? Saipem SpA has no consensus analysts rating.
What are the forecasts/targets for the SPM price?
Analysts Target Price - -
Saipem SpA (SPM) - Fundamental Data Overview as of 15 May 2026
Market Cap USD = 10.59b (9.04b EUR * 1.1715 EUR.USD)
P/E Trailing = 31.0533
P/E Forward = 23.2558
P/S = 0.5826
P/B = 3.1348
P/EG = 0.3735
Revenue TTM = 22.80b EUR
EBIT TTM = 995.0m EUR
EBITDA TTM = 1.98b EUR
Long Term Debt = 1.44b EUR (from longTermDebt, last quarter)
Short Term Debt = 38.0m EUR (from shortTermDebt, last quarter)
Debt = 1.48b EUR (Calculated: Short Term 38.0m + Long Term 1.44b)
Net Debt = -1.16b EUR (recalculated: Debt 1.48b - CCE 2.63b)
Enterprise Value = 7.88b EUR (9.04b + Debt 1.48b - CCE 2.63b)
Interest Coverage Ratio = 6.14 (Ebit TTM 995.0m / Interest Expense TTM 162.0m)
EV/FCF = 6.91x (Enterprise Value 7.88b / FCF TTM 1.14b)
FCF Yield = 14.46% (FCF TTM 1.14b / Enterprise Value 7.88b)
FCF Margin = 5.00% (FCF TTM 1.14b / Revenue TTM 22.80b)
Net Margin = 2.05% (Net Income TTM 468.0m / Revenue TTM 22.80b)
Gross Margin = 30.66% ((Revenue TTM 22.80b - Cost of Revenue TTM 15.80b) / Revenue TTM)
Gross Margin QoQ = 33.68% (prev 25.58%)
Tobins Q-Ratio = 0.55 (Enterprise Value 7.88b / Total Assets 14.44b)
Interest Expense / Debt = 10.96% (Interest Expense 162.0m / Debt 1.48b)
Taxrate = 44.12% (135.0m / 306.0m)
NOPAT = 556.0m (EBIT 995.0m * (1 - 44.12%))
Current Ratio = 1.09 (Total Current Assets 9.12b / Total Current Liabilities 8.39b)
Debt / Equity = 0.56 (Debt 1.48b / totalStockholderEquity, last quarter 2.64b)
Debt / EBITDA = -0.58 (Net Debt -1.16b / EBITDA 1.98b)
Debt / FCF = -1.01 (Net Debt -1.16b / FCF TTM 1.14b)
Total Stockholder Equity = 2.55b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.94% (Net Income 468.0m / Total Assets 14.44b)
RoE = 18.37% (Net Income TTM 468.0m / Total Stockholder Equity 2.55b)
RoCE = 24.96% (EBIT 995.0m / Capital Employed (Equity 2.55b + L.T.Debt 1.44b))
RoIC = 12.28% (NOPAT 556.0m / Invested Capital 4.53b)
WACC = 8.49% (E(9.04b)/V(10.52b) * Re(8.88%) + D(1.48b)/V(10.52b) * Rd(10.96%) * (1-Tc(0.44)))
Discount Rate = 8.88% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 78.21 | Cagr: 105.6%
[DCF] Terminal Value 68.45% ; FCFF base≈735.6m ; Y1≈483.0m ; Y5≈220.9m
[DCF] Fair Price = 2.67 (EV 4.02b - Net Debt -1.16b = Equity 5.18b / Shares 1.94b; r=8.49% [WACC]; 5y FCF grow -40.0% → 3.0% )
EPS Correlation: 77.31 | EPS CAGR: 30.73% | SUE: 0.0 | # QB: 0
Revenue Correlation: 84.25 | Revenue CAGR: 50.02% | SUE: 0.25 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.05 | Chg30d=-20.15% | Revisions=-33% | Analysts=3
EPS next Quarter (2026-09-30): EPS=0.06 | Chg30d=-23.98% | Revisions=-33% | Analysts=3
EPS current Year (2026-12-31): EPS=0.23 | Chg30d=-4.36% | Revisions=-29% | GrowthEPS=+45.6% | GrowthRev=+0.7%
EPS next Year (2027-12-31): EPS=0.30 | Chg30d=+5.11% | Revisions=+38% | GrowthEPS=+32.8% | GrowthRev=+1.5%
[Analyst] Revisions Ratio: +38%