(SRG) Snam SpA - Overview
Sector: Utilities | Industry: Utilities - Regulated Gas | Exchange: MI (Italy) | Market Cap: 21.430m EUR | Total Return: 28% in 12m
Avg Turnover: 33.8M
EPS Trend: 27.7%
Qual. Beats: 1
Rev. Trend: 48.9%
Qual. Beats: 0
Warnings
Altman Z'' 0.85 < 1.0 - financial distress zone
Tailwinds
No distinct edge detected
Snam S.p.A. is an Italian energy infrastructure operator specializing in the transportation, storage, and regasification of natural gas. The company manages an extensive midstream network spanning approximately 38,000 kilometers across Europe and the Middle East, facilitating the movement of energy from supply points to regional markets. Its business model relies heavily on regulated assets, which typically provide predictable revenue streams through government-approved tariffs and long-term concessions.
Beyond traditional gas logistics, Snam is diversifying into energy transition technologies, including biomethane production and energy efficiency services for the public and private sectors. The Oil & Gas Storage & Transportation sector is currently undergoing a structural shift as operators integrate hydrogen-ready pipelines to align with decarbonization targets. To better understand how these infrastructure investments impact long-term valuation, you may wish to examine the detailed metrics on ValueRay.
The company also maintains a significant presence in the liquefied natural gas (LNG) market through the operation of regasification plants, which are critical for national energy security. Founded in 1941 and headquartered in Milan, Snam operates as a key strategic link in the European energy grid through its integrated system of storage deposits, compression plants, and international interconnectors.
- Italian regulatory framework adjustments impact allowed returns on regulated asset base
- Natural gas storage capacity demand fluctuates with European energy security needs
- Strategic investments in LNG regasification infrastructure drive long-term revenue growth
- European interest rate shifts affect financing costs for capital intensive projects
- Transition to hydrogen and biomethane infrastructure determines future valuation multiples
| Net Income: 1.95b TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.04 > 0.02 and ΔFCF/TA 0.52 > 1.0 |
| NWC/Revenue: -52.85% < 20% (prev -37.99%; Δ -14.86% < -1%) |
| CFO/TA 0.09 > 3% & CFO 2.69b > Net Income 1.95b |
| Net Debt (-1.55b) to EBITDA (3.78b): -0.41 < 3 |
| Current Ratio: 0.72 > 1.5 & < 3 |
| Outstanding Shares: last quarter (3.36b) vs 12m ago 0.04% < -2% |
| Gross Margin: 74.79% > 18% (prev 0.78%; Δ 7.40k% > 0.5%) |
| Asset Turnover: 17.98% > 50% (prev 12.54%; Δ 5.44% > 0%) |
| Interest Coverage Ratio: 11.82 > 6 (EBITDA TTM 3.78b / Interest Expense TTM 233.0m) |
| A: -0.11 (Total Current Assets 7.82b - Total Current Liabilities 10.9b) / Total Assets 29.0b |
| B: 0.17 (Retained Earnings 4.95b / Total Assets 29.0b) |
| C: 0.09 (EBIT TTM 2.75b / Avg Total Assets 32.4b) |
| D: 0.40 (Book Value of Equity 7.69b / Total Liabilities 19.4b) |
| Altman-Z'' = 0.85 = B |
| DSRI: 0.57 (Receivables 2.54b/3.47b, Revenue 5.82b/4.49b) |
| GMI: 1.04 (GM 74.79% / 78.01%) |
| AQI: -0.41 (AQ_t -0.08 / AQ_t-1 0.18) |
| SGI: 1.30 (Revenue 5.82b / 4.49b) |
| TATA: -0.03 (NI 1.95b - CFO 2.69b) / TA 29.0b) |
| Beneish M = -4.00 (Cap -4..+1) = AAA |
As of May 25, 2026, the stock is trading at EUR 6.40 with a total of 7,379,061 shares traded.
Over the past week, the price has changed by +3.07%,
over one month by -4.46%,
over three months by -0.22% and
over the past year by +27.98%.
Snam SpA has no consensus analysts rating.
P/E Trailing = 17.7389
P/E Forward = 15.1057
P/S = 5.4752
P/B = 2.2466
P/EG = 2.3963
Revenue TTM = 5.82b EUR
EBIT TTM = 2.75b EUR
EBITDA TTM = 3.78b EUR
Long Term Debt = 18.5b EUR (from longTermDebt, last quarter)
Short Term Debt = 822.0m EUR (from shortTermDebt, last fiscal year)
Debt = 97.0m EUR (Leases only: 97.0m)
Net Debt = -1.55b EUR (calculated: Debt 97.0m - CCE 1.64b)
Enterprise Value = 19.9b EUR (21.4b + Debt 97.0m - CCE 1.64b)
Interest Coverage Ratio = 11.82 (Ebit TTM 2.75b / Interest Expense TTM 233.0m)
EV/FCF = -16.38x (Enterprise Value 19.9b / FCF TTM -1.21b)
FCF Yield = -6.11% (FCF TTM -1.21b / Enterprise Value 19.9b)
FCF Margin = -20.84% (FCF TTM -1.21b / Revenue TTM 5.82b)
Net Margin = 33.52% (Net Income TTM 1.95b / Revenue TTM 5.82b)
Gross Margin = 74.79% ((Revenue TTM 5.82b - Cost of Revenue TTM 1.47b) / Revenue TTM)
Gross Margin QoQ = 77.58% (prev 80.34%)
Tobins Q-Ratio = 0.69 (Enterprise Value 19.9b / Total Assets 29.0b)
Interest Expense / Debt = 240.2% (Interest Expense 233.0m / Debt 97.0m)
Taxrate = 24.55% (122.0m / 497.0m)
NOPAT = 2.08b (EBIT 2.75b * (1 - 24.55%))
Current Ratio = 0.66 (Total Current Assets 7.82b / Total Current Liabilities 11.8b)
Debt / Equity = 0.01 (Debt 97.0m / totalStockholderEquity, last quarter 9.54b)
Debt / EBITDA = -0.41 (Net Debt -1.55b / EBITDA 3.78b)
Debt / FCF = 1.27 (negative FCF - burning cash) (Net Debt -1.55b / FCF TTM -1.21b)
Total Stockholder Equity = 9.33b (last 4 quarters mean from totalStockholderEquity)
RoA = 6.02% (Net Income 1.95b / Total Assets 29.0b)
RoE = 20.92% (Net Income TTM 1.95b / Total Stockholder Equity 9.33b)
RoCE = 9.90% (EBIT 2.75b / Capital Employed (Equity 9.33b + L.T.Debt 18.5b))
RoIC = 7.43% (NOPAT 2.08b / Invested Capital 28.0b)
WACC = 5.72% (E(21.4b)/V(21.5b) * Re(5.75%) + (debt cost/tax rate unavailable))
Discount Rate = 5.75% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 40.45 | Cagr: 1.15%
[DCF] Fair Price = unknown (Cash Flow -1.21b)
EPS Correlation: 27.71 | EPS CAGR: 1.76% | SUE: 1.25 | # QB: 1
Revenue Correlation: 48.89 | Revenue CAGR: 5.19% | SUE: -0.05 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.10 | Chg30d=+0.00% | Revisions=N/A | Analysts=2
EPS next Quarter (2026-09-30): EPS=0.10 | Chg30d=+0.00% | Revisions=N/A | Analysts=2
EPS current Year (2026-12-31): EPS=0.43 | Chg30d=+0.66% | Revisions=+40% | GrowthEPS=+0.0% | GrowthRev=+3.1%
EPS next Year (2027-12-31): EPS=0.44 | Chg30d=+0.09% | Revisions=+11% | GrowthEPS=+2.2% | GrowthRev=+6.6%
[Analyst] Revisions Ratio: +40%