(SRG) Snam SpA - Overview

Sector: Utilities | Industry: Utilities - Regulated Gas | Exchange: MI (Italy) | Market Cap: 18.966m EUR | Total Return: 46.7% in 12m

Stock Transport, Storage, Regasification, Biomethane, Cng
Total Rating 54
Risk 73
Buy Signal 0.69
Utilities - Regulated Gas +0.1
Oil & Gas Storage & Transportation -0.9
Market Cap: 21,981m
Avg Trading Vol: 46.0M EUR
ATR: 1.89%
Peers RS (IBD): 55.0
Risk 5d forecast
Volatility18.4%
Rel. Tail Risk-0.92%
Reward TTM
Sharpe Ratio2.09
Alpha40.13
Character TTM
Beta-0.002
Beta Downside-0.143
Drawdowns 3y
Max DD13.66%
CAGR/Max DD1.19
EPS (Earnings per Share) EPS (Earnings per Share) of SRG over the last years for every Quarter: "2021-03": 0.1, "2021-06": 0.1, "2021-09": 0.09, "2021-12": 0.1, "2022-03": 0.09, "2022-06": 0.09, "2022-09": 0.07, "2022-12": 0.09, "2023-03": 0.1, "2023-06": 0.1, "2023-09": 0.09, "2023-12": 0.06, "2024-03": 0.1, "2024-06": 0.11, "2024-09": 0.09, "2024-12": null, "2025-03": 0.12, "2025-06": null, "2025-09": null,
EPS CAGR: 4.98%
EPS Trend: 8.1%
Last SUE: 1.25
Qual. Beats: 1
Revenue Revenue of SRG over the last years for every Quarter: 2021-03: 717, 2021-06: 1522, 2021-09: 812, 2021-12: 1763, 2022-03: 838, 2022-06: 1673, 2022-09: 868, 2022-12: 1823, 2023-03: 979, 2023-06: 1092, 2023-09: 1074, 2023-12: 2217, 2024-03: 896, 2024-06: 897, 2024-09: 852, 2024-12: 1769, 2025-03: 970, 2025-06: 1906, 2025-09: 940,
Rev. CAGR: -15.44%
Rev. Trend: -8.0%
Last SUE: 0.04
Qual. Beats: 0
Description: SRG Snam SpA

Snam S.p.A. (ticker SRG) is Italy’s leading natural-gas infrastructure operator, managing a 40,000-km transport network across Italy, Austria, the UAE, France, Greece and the UK, plus extensive storage facilities in Lombardy, Emilia-Romagna and Abruzzo, and LNG regasification plants that enable gas imports.

In FY 2023 the group generated €4.1 billion of revenue and an adjusted EBITDA of €1.2 billion, with a net-debt-to-EBITDA ratio of roughly 2.5×. Its underground storage capacity now stands at 5.5 billion cubic metres, while LNG regasification capacity has been expanded to 5.5 billion cubic metres per year, supporting Italy’s growing reliance on imported gas.

Key drivers include the EU’s energy-transition agenda, which positions natural gas as a bridge fuel, and regulatory incentives for biogas and biomethane projects-areas where Snam is actively expanding its renewable-gas portfolio. For deeper insights, you may explore Snam’s profile on ValueRay.

Headlines to Watch Out For
  • European natural gas demand impacts pipeline utilization and revenue
  • Regulatory framework changes affect tariff structures and profitability
  • Investment in biomethane and hydrogen infrastructure drives growth
  • Geopolitical events influence gas supply and transport volumes
  • Interest rate fluctuations impact financing costs for infrastructure projects
Piotroski VR‑10 (Strict) 4.0
Net Income: 2.20b TTM > 0 and > 6% of Revenue
FCF/TA: -0.02 > 0.02 and ΔFCF/TA 0.84 > 1.0
NWC/Revenue: -14.83% < 20% (prev -39.45%; Δ 24.62% < -1%)
CFO/TA 0.10 > 3% & CFO 3.71b > Net Income 2.20b
Net Debt (18.10b) to EBITDA (3.67b): 4.93 < 3
Current Ratio: 0.90 > 1.5 & < 3
Outstanding Shares: last quarter (3.35b) vs 12m ago 0.02% < -2%
Gross Margin: 74.15% > 18% (prev 0.40%; Δ 7.37k% > 0.5%)
Asset Turnover: 16.27% > 50% (prev 14.86%; Δ 1.41% > 0%)
Interest Coverage Ratio: 12.44 > 6 (EBITDA TTM 3.67b / Interest Expense TTM 216.0m)
Altman Z'' 1.11
A: -0.02 (Total Current Assets 7.88b - Total Current Liabilities 8.71b) / Total Assets 35.95b
B: 0.13 (Retained Earnings 4.83b / Total Assets 35.95b)
C: 0.08 (EBIT TTM 2.69b / Avg Total Assets 34.33b)
D: 0.28 (Book Value of Equity 7.56b / Total Liabilities 26.81b)
Altman-Z'' Score: 1.11 = BB
Beneish M -4.00
DSRI: 0.00 (Receivables 1.00m/2.40b, Revenue 5.58b/4.86b)
GMI: 0.55 (GM 74.15% / 40.46%)
AQI: 1.01 (AQ_t 0.18 / AQ_t-1 0.18)
SGI: 1.15 (Revenue 5.58b / 4.86b)
TATA: -0.04 (NI 2.20b - CFO 3.71b) / TA 35.95b)
Beneish M-Score: -4.19 (Cap -4..+1) = AAA
What is the price of SRG shares? As of April 03, 2026, the stock is trading at EUR 6.55 with a total of 7,581,941 shares traded.
Over the past week, the price has changed by +5.44%, over one month by +0.39%, over three months by +20.57% and over the past year by +46.73%.
Is SRG a buy, sell or hold? Snam SpA has no consensus analysts rating.
What are the forecasts/targets for the SRG price?
Wallstreet Target Price 5.5 -16.2%
Analysts Target Price - -
SRG Fundamental Data Overview as of 01 April 2026
Market Cap USD = 21.98b (18.97b EUR * 1.159 EUR.USD)
P/E Trailing = 14.135
P/E Forward = 15.9236
P/S = 5.6347
P/B = 2.3133
P/EG = 3.25
Revenue TTM = 5.58b EUR
EBIT TTM = 2.69b EUR
EBITDA TTM = 3.67b EUR
Long Term Debt = 16.10b EUR (from longTermDebt, last quarter)
Short Term Debt = 970.0m EUR (from shortTermDebt, last quarter)
Debt = 17.07b EUR (Calculated: Short Term 970.0m + Long Term 16.10b)
Net Debt = 18.10b EUR (from netDebt column, last quarter)
Enterprise Value = 34.21b EUR (18.97b + Debt 17.07b - CCE 1.83b)
Interest Coverage Ratio = 12.44 (Ebit TTM 2.69b / Interest Expense TTM 216.0m)
EV/FCF = -56.36x (Enterprise Value 34.21b / FCF TTM -607.0m)
FCF Yield = -1.77% (FCF TTM -607.0m / Enterprise Value 34.21b)
FCF Margin = -10.87% (FCF TTM -607.0m / Revenue TTM 5.58b)
Net Margin = 39.32% (Net Income TTM 2.20b / Revenue TTM 5.58b)
Gross Margin = 74.15% ((Revenue TTM 5.58b - Cost of Revenue TTM 1.44b) / Revenue TTM)
Gross Margin QoQ = 46.49% (prev 81.53%)
Tobins Q-Ratio = 0.95 (Enterprise Value 34.21b / Total Assets 35.95b)
Interest Expense / Debt = 0.85% (Interest Expense 145.0m / Debt 17.07b)
Taxrate = 23.81% (95.0m / 399.0m)
NOPAT = 2.05b (EBIT 2.69b * (1 - 23.81%))
Current Ratio = 0.90 (Total Current Assets 7.88b / Total Current Liabilities 8.71b)
Debt / Equity = 1.87 (Debt 17.07b / totalStockholderEquity, last quarter 9.14b)
Debt / EBITDA = 4.93 (Net Debt 18.10b / EBITDA 3.67b)
 Debt / FCF = -29.81 (negative FCF - burning cash) (Net Debt 18.10b / FCF TTM -607.0m)
 Total Stockholder Equity = 9.12b (last 4 quarters mean from totalStockholderEquity)
RoA = 6.40% (Net Income 2.20b / Total Assets 35.95b)
RoE = 24.09% (Net Income TTM 2.20b / Total Stockholder Equity 9.12b)
RoCE = 10.66% (EBIT 2.69b / Capital Employed (Equity 9.12b + L.T.Debt 16.10b))
RoIC = 9.04% (NOPAT 2.05b / Invested Capital 22.64b)
WACC = 3.45% (E(18.97b)/V(36.04b) * Re(5.98%) + D(17.07b)/V(36.04b) * Rd(0.85%) * (1-Tc(0.24)))
Discount Rate = 5.98% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.92%
Shares Correlation 3-Years: -33.33 | Cagr: -0.02%
 [DCF] Fair Price = unknown (Cash Flow -607.0m)
 EPS Correlation: 8.15 | EPS CAGR: 4.98% | SUE: 1.25 | # QB: 1
Revenue Correlation: -7.96 | Revenue CAGR: -15.44% | SUE: 0.04 | # QB: 0
EPS next Year (2026-12-31): EPS=0.41 | Chg7d=+0.001 | Chg30d=+0.002 | Revisions Net=+6 | Growth EPS=-1.4% | Growth Revenue=+8.0%