SRG Stock Analysis: Snam | MI
Utilities - Regulated Gas | MI, Italy | Market Cap: 19.417m EUR | 12M Return: 15.9% | IT0003153415 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 36.5M
EPS Trend: 27.7%
Qual. Beats: 1
Rev. Trend: 29.6%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.6 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.
Snam S.p.A. is an Italian energy infrastructure operator focused on natural gas transportation, storage, and LNG regasification, with a transportation network of approximately 38,000 kilometers spanning Italy, Austria, the United Arab Emirates, France, Greece, and the United Kingdom. The company operates through four segments: natural gas transportation, natural gas storage, LNG regasification, and market solutions, managing storage concessions in Lombardy, Emilia-Romagna, and Abruzzo.
Beyond its core gas infrastructure activities, Snam offers energy efficiency solutions for companies, condominiums, and public administration, and has expanded into biogas and biomethane plant development. The company also sells CNG compressors and provides technical consulting services.
Sector context: Natural gas transmission and storage operators in Europe typically operate as regulated utilities, with revenues tied to framework agreements with national regulators. Storage assets play a seasonal role, helping balance demand peaks during winter heating periods, which is particularly relevant for Italy given its historical dependence on imported natural gas.
- ARERA tariff revisions impact regulated revenues and RAB returns
- LNG regasification capacity expansion supports gas security demand
- Hydrogen and biomethane transition investments diversify long-term revenue mix
| Net Income: 1.45b TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.00 > 0.02 and ΔFCF/TA 2.89 > 1.0 |
| NWC/Revenue: -51.75% < 20% (prev -15.06%; Δ -36.69% < -1%) |
| CFO/TA 0.07 > 3% & CFO 2.69b > Net Income 1.45b |
| Net Debt (-2.68b) to EBITDA (3.35b): -0.80 < 3 |
| Current Ratio: 0.76 > 1.5 & < 3 |
| Outstanding Shares: last quarter (3.36b) vs 12m ago 0.04% < -2% |
| Gross Margin: 79.43% > 18% (prev 76.70%; Δ 2.73% > 0.5%) |
| Asset Turnover: 13.30% > 50% (prev 15.29%; Δ -1.99% > 0%) |
| Interest Coverage Ratio: 5.0 > 6 (EBIT TTM 2.33b / Interest Expense TTM 465.0m) |
| A: -0.07 (Total Current Assets 8.12b - Total Current Liabilities 10.7b) / Total Assets 38.0b |
| B: 0.13 (Retained Earnings 4.99b / Total Assets 38.0b) |
| C: 0.06 (EBIT TTM 2.33b / Avg Total Assets 37.0b) |
| D: 0.32 (Book Value of Equity 9.27b / Total Liabilities 28.7b) |
| Altman-Z'' = 0.75 = B |
| DSRI: 3.0 (Receivables 1.91b/1.00m, Revenue 4.92b/5.50b) |
| GMI: 0.97 (GM 76.70% / 79.43%) |
| AQI: 0.89 (AQ_t 0.16 / AQ_t-1 0.18) |
| SGI: 0.90 (Revenue 4.92b / 5.50b) |
| TATA: -0.03 (NI 1.45b - CFO 2.69b) / TA 38.0b) |
| Beneish M = -1.55 (Cap -4..+1) = CCC |
As of August 24, 2026, the stock is trading at EUR 5.79 with a total of 4,981,789 shares traded. Over the past week, the price has changed by +0.28%, over one month by -7.39%, over three months by -6.33% and over the past year by +15.91%.
Current recommended Stop Loss: 5.60 (which is 3.3% or 2.1 ATR below the current price).
Snam has no consensus analysts rating.
P/E Trailing = 17.5333
P/E Forward = 13.587
P/S = 4.8481
P/B = 2.0939
P/EG = 2.1559
Revenue TTM = 4.92b EUR
EBIT TTM = 2.33b EUR
EBITDA TTM = 3.35b EUR
Long Term Debt = 16.0b EUR (from longTermDebt, last quarter)
Short Term Debt = 5.70b EUR (from shortLongTermDebt, last quarter)
Debt = 119.0m EUR (Leases only: 119.0m)
Net Debt = -2.68b EUR (calculated: Debt 119.0m - CCE 2.80b)
Enterprise Value = 16.7b EUR (19.4b + Debt 119.0m - CCE 2.80b)
Interest Coverage Ratio = 5.0 (Ebit TTM 2.33b / Interest Expense TTM 465.0m)
EV/FCF = -797.1x (Enterprise Value 16.7b / FCF TTM -21.0m)
FCF Yield = -0.13% (FCF TTM -21.0m / Enterprise Value 16.7b)
FCF Margin = -0.43% (FCF TTM -21.0m / Revenue TTM 4.92b)
Net Margin = 29.55% (Net Income TTM 1.45b / Revenue TTM 4.92b)
Gross Margin = 79.43% ((Revenue TTM 4.92b - Cost of Revenue TTM 1.01b) / Revenue TTM)
Gross Margin QoQ = none% (prev 77.58%)
Tobins Q-Ratio = 0.44 (Enterprise Value 16.7b / Total Assets 38.0b)
Interest Expense / Debt = 390.8% (Interest Expense 465.0m / Debt 119.0m)
Taxrate = 26.30% (517.0m / 1.97b)
NOPAT = 1.71b (EBIT 2.33b * (1 - 26.30%))
Current Ratio = 0.76 (Total Current Assets 8.12b / Total Current Liabilities 10.7b)
Debt / Equity = 0.01 (Debt 119.0m / totalStockholderEquity, last quarter 9.27b)
Debt / EBITDA = -0.80 (Net Debt -2.68b / EBITDA 3.35b)
Debt / FCF = 127.5 (negative FCF - burning cash) (Net Debt -2.68b / FCF TTM -21.0m)
Total Stockholder Equity = 9.30b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.93% (Net Income 1.45b / Total Assets 38.0b)
RoE = 15.64% (Net Income TTM 1.45b / Total Stockholder Equity 9.30b)
RoCE = 9.19% (EBIT 2.33b / Capital Employed (Equity 9.30b + L.T.Debt 16.0b))
RoIC = 6.14% (NOPAT 1.71b / Invested Capital 27.9b)
WACC = 5.19% (E(19.4b)/V(19.5b) * Re(5.22%) + (debt cost/tax rate unavailable))
Discount Rate = 5.22% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 60.18 | Cagr: 1.15%
[DCF] Fair Price = unknown (Cash Flow -21.0m)
EPS Correlation: 27.71 | EPS CAGR: 1.76% | SUE: 1.25 | # QB: 1
Revenue Correlation: 29.62 | Revenue CAGR: 3.04% | SUE: -0.01 | # QB: 0
EPS current Quarter (2025-06-30): EPS=0.10 | Chg30d=-2.15% | Revisions=+25% | Analysts=3
EPS next Quarter (2025-09-30): EPS=0.10 | Chg30d=+0.00% | Revisions=+0% | Analysts=3
EPS current Year (2025-12-31): EPS=0.42 | Chg30d=+2.26% | Revisions=+57% | GrowthEPS=+9.5% | GrowthRev=+7.3%
EPS next Year (2026-12-31): EPS=0.43 | Chg30d=+0.02% | Revisions=+0% | GrowthEPS=+1.2% | GrowthRev=+4.1%
[Analyst] Revisions Ratio: +42% (up=7, down=2)