ITALGAS SPA (IG.MI) Stock Fundamental Analysis
Europe • Euronext Milan • BIT:IG • IT0005211237
10.235 EUR
+0.02 (+0.24%)
Last: Feb 5, 2026, 09:29 AM
IG gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 4 industry peers in the Gas Utilities industry. While IG is still in line with the averages on profitability rating, there are concerns on its financial health. IG is valued quite expensive, but it does show an excellent growth. Finally IG also has an excellent dividend rating.
1. Profitability
1.1 Basic Checks
- IG had positive earnings in the past year.
- IG had a positive operating cash flow in the past year.
- In the past 5 years IG has always been profitable.
- In the past 5 years IG always reported a positive cash flow from operatings.
1.2 Ratios
- IG has a Return On Assets of 4.88%. This is in the lower half of the industry: IG underperforms 75.00% of its industry peers.
- Looking at the Return On Equity, with a value of 25.06%, IG belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
- Looking at the Return On Invested Capital, with a value of 7.59%, IG is in the better half of the industry, outperforming 75.00% of the companies in the same industry.
- Measured over the past 3 years, the Average Return On Invested Capital for IG is in line with the industry average of 6.63%.
- The 3 year average ROIC (5.76%) for IG is below the current ROIC(7.59%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.88% | ||
| ROE | 25.06% | ||
| ROIC | 7.59% |
ROA(3y)3.88%
ROA(5y)3.89%
ROE(3y)19.36%
ROE(5y)19.88%
ROIC(3y)5.76%
ROIC(5y)5.76%
1.3 Margins
- IG has a Profit Margin of 22.07%. This is comparable to the rest of the industry: IG outperforms 50.00% of its industry peers.
- IG's Profit Margin has declined in the last couple of years.
- IG's Operating Margin of 38.76% is fine compared to the rest of the industry. IG outperforms 75.00% of its industry peers.
- IG's Operating Margin has improved in the last couple of years.
- With a decent Gross Margin value of 58.56%, IG is doing good in the industry, outperforming 75.00% of the companies in the same industry.
- IG's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 38.76% | ||
| PM (TTM) | 22.07% | ||
| GM | 58.56% |
OM growth 3Y5.85%
OM growth 5Y2.8%
PM growth 3Y3.77%
PM growth 5Y-3.36%
GM growth 3Y0.16%
GM growth 5Y0.23%
2. Health
2.1 Basic Checks
- With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), IG is creating some value.
- The number of shares outstanding for IG remains at a similar level compared to 1 year ago.
- The number of shares outstanding for IG has been increased compared to 5 years ago.
- IG has a better debt/assets ratio than last year.
2.2 Solvency
- IG has an Altman-Z score of 1.00. This is a bad value and indicates that IG is not financially healthy and even has some risk of bankruptcy.
- IG's Altman-Z score of 1.00 is on the low side compared to the rest of the industry. IG is outperformed by 75.00% of its industry peers.
- The Debt to FCF ratio of IG is 33.56, which is on the high side as it means it would take IG, 33.56 years of fcf income to pay off all of its debts.
- Looking at the Debt to FCF ratio, with a value of 33.56, IG is in the better half of the industry, outperforming 75.00% of the companies in the same industry.
- IG has a Debt/Equity ratio of 3.07. This is a high value indicating a heavy dependency on external financing.
- IG has a Debt to Equity ratio of 3.07. This is in the lower half of the industry: IG underperforms 75.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 3.07 | ||
| Debt/FCF | 33.56 | ||
| Altman-Z | 1 |
ROIC/WACC1.42
WACC5.35%
2.3 Liquidity
- IG has a Current Ratio of 0.81. This is a bad value and indicates that IG is not financially healthy enough and could expect problems in meeting its short term obligations.
- The Current ratio of IG (0.81) is worse than 75.00% of its industry peers.
- A Quick Ratio of 0.77 indicates that IG may have some problems paying its short term obligations.
- IG has a Quick ratio of 0.77. This is in the better half of the industry: IG outperforms 75.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.81 | ||
| Quick Ratio | 0.77 |
3. Growth
3.1 Past
- The Earnings Per Share has grown by an impressive 50.00% over the past year.
- The Earnings Per Share has been growing slightly by 5.46% on average over the past years.
- Looking at the last year, IG shows a very strong growth in Revenue. The Revenue has grown by 27.28%.
- IG shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 6.80% yearly.
EPS 1Y (TTM)50%
EPS 3Y-30.18%
EPS 5Y5.46%
EPS Q2Q%17.13%
Revenue 1Y (TTM)27.28%
Revenue growth 3Y6.24%
Revenue growth 5Y6.8%
Sales Q2Q%54.19%
3.2 Future
- IG is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 13.53% yearly.
- Based on estimates for the next years, IG will show a quite strong growth in Revenue. The Revenue will grow by 15.29% on average per year.
EPS Next Y9.62%
EPS Next 2Y12.84%
EPS Next 3Y15.81%
EPS Next 5Y13.53%
Revenue Next Year23.48%
Revenue Next 2Y10.88%
Revenue Next 3Y19.75%
Revenue Next 5Y15.29%
3.3 Evolution
- The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
- The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
- Based on the Price/Earnings ratio of 22.74, the valuation of IG can be described as rather expensive.
- Based on the Price/Earnings ratio, IG is valued a bit more expensive than 75.00% of the companies in the same industry.
- IG's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 28.25.
- IG is valuated rather expensively with a Price/Forward Earnings ratio of 17.83.
- IG's Price/Forward Earnings ratio is in line with the industry average.
- The average S&P500 Price/Forward Earnings ratio is at 27.50. IG is valued slightly cheaper when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 22.74 | ||
| Fwd PE | 17.83 |
4.2 Price Multiples
- The rest of the industry has a similar Enterprise Value to EBITDA ratio as IG.
- 75.00% of the companies in the same industry are more expensive than IG, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 30.68 | ||
| EV/EBITDA | 10.15 |
4.3 Compensation for Growth
- The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates IG does not grow enough to justify the current Price/Earnings ratio.
- IG has a very decent profitability rating, which may justify a higher PE ratio.
- IG's earnings are expected to grow with 15.81% in the coming years. This may justify a more expensive valuation.
PEG (NY)2.37
PEG (5Y)4.16
EPS Next 2Y12.84%
EPS Next 3Y15.81%
5. Dividend
5.1 Amount
- IG has a Yearly Dividend Yield of 4.04%, which is a nice return.
- IG's Dividend Yield is slightly below the industry average, which is at 4.87.
- Compared to an average S&P500 Dividend Yield of 1.82, IG pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.04% |
5.2 History
- The dividend of IG is nicely growing with an annual growth rate of 6.22%!
Dividend Growth(5Y)6.22%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
- IG pays out 39.58% of its income as dividend. This is a sustainable payout ratio.
- IG's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP39.58%
EPS Next 2Y12.84%
EPS Next 3Y15.81%
BIT:IG (2/5/2026, 9:29:01 AM)
10.235
+0.02 (+0.24%)
Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryGas Utilities
Earnings (Last)10-28 2025-10-28
Earnings (Next)N/A N/A
Inst Owners33.58%
Inst Owner ChangeN/A
Ins Owners3.38%
Ins Owner ChangeN/A
Market Cap10.39B
Revenue(TTM)4.17B
Net Income(TTM)871.52M
Analysts76.67
Price Target9.8 (-4.25%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.04% |
Yearly Dividend0.35
Dividend Growth(5Y)6.22%
DP39.58%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-0.38%
PT rev (3m)15.94%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0.31%
EPS NY rev (3m)2.87%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.59%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 22.74 | ||
| Fwd PE | 17.83 | ||
| P/S | 2.63 | ||
| P/FCF | 30.68 | ||
| P/OCF | 7.95 | ||
| P/B | 2.99 | ||
| P/tB | N/A | ||
| EV/EBITDA | 10.15 |
EPS(TTM)0.45
EY4.4%
EPS(NY)0.57
Fwd EY5.61%
FCF(TTM)0.33
FCFY3.26%
OCF(TTM)1.29
OCFY12.59%
SpS3.89
BVpS3.42
TBVpS-10.65
PEG (NY)2.37
PEG (5Y)4.16
Graham Number5.89
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.88% | ||
| ROE | 25.06% | ||
| ROCE | 9.83% | ||
| ROIC | 7.59% | ||
| ROICexc | 7.78% | ||
| ROICexgc | 122.81% | ||
| OM | 38.76% | ||
| PM (TTM) | 22.07% | ||
| GM | 58.56% | ||
| FCFM | 8.58% |
ROA(3y)3.88%
ROA(5y)3.89%
ROE(3y)19.36%
ROE(5y)19.88%
ROIC(3y)5.76%
ROIC(5y)5.76%
ROICexc(3y)5.99%
ROICexc(5y)6.22%
ROICexgc(3y)75.97%
ROICexgc(5y)N/A
ROCE(3y)7.65%
ROCE(5y)7.56%
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3Y2.21%
ROICexc growth 5Y1.43%
OM growth 3Y5.85%
OM growth 5Y2.8%
PM growth 3Y3.77%
PM growth 5Y-3.36%
GM growth 3Y0.16%
GM growth 5Y0.23%
F-Score4
Asset Turnover0.22
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 3.07 | ||
| Debt/FCF | 33.56 | ||
| Debt/EBITDA | 5.09 | ||
| Cap/Depr | 170.7% | ||
| Cap/Sales | 24.55% | ||
| Interest Coverage | 9.24 | ||
| Cash Conversion | 62.34% | ||
| Profit Quality | 38.87% | ||
| Current Ratio | 0.81 | ||
| Quick Ratio | 0.77 | ||
| Altman-Z | 1 |
F-Score4
WACC5.35%
ROIC/WACC1.42
Cap/Depr(3y)164.61%
Cap/Depr(5y)169.68%
Cap/Sales(3y)35.08%
Cap/Sales(5y)36.12%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)50%
EPS 3Y-30.18%
EPS 5Y5.46%
EPS Q2Q%17.13%
EPS Next Y9.62%
EPS Next 2Y12.84%
EPS Next 3Y15.81%
EPS Next 5Y13.53%
Revenue 1Y (TTM)27.28%
Revenue growth 3Y6.24%
Revenue growth 5Y6.8%
Sales Q2Q%54.19%
Revenue Next Year23.48%
Revenue Next 2Y10.88%
Revenue Next 3Y19.75%
Revenue Next 5Y15.29%
EBIT growth 1Y34.47%
EBIT growth 3Y11.89%
EBIT growth 5Y9.35%
EBIT Next Year134.8%
EBIT Next 3Y42.13%
EBIT Next 5Y26.17%
FCF growth 1Y190.01%
FCF growth 3Y117.41%
FCF growth 5Y51.61%
OCF growth 1Y219.31%
OCF growth 3Y9.38%
OCF growth 5Y8.67%
ITALGAS SPA / IG.MI FAQ
Can you provide the ChartMill fundamental rating for ITALGAS SPA?
ChartMill assigns a fundamental rating of 5 / 10 to IG.MI.
Can you provide the valuation status for ITALGAS SPA?
ChartMill assigns a valuation rating of 3 / 10 to ITALGAS SPA (IG.MI). This can be considered as Overvalued.
How profitable is ITALGAS SPA (IG.MI) stock?
ITALGAS SPA (IG.MI) has a profitability rating of 6 / 10.
What is the financial health of ITALGAS SPA (IG.MI) stock?
The financial health rating of ITALGAS SPA (IG.MI) is 2 / 10.
Can you provide the expected EPS growth for IG stock?
The Earnings per Share (EPS) of ITALGAS SPA (IG.MI) is expected to grow by 9.62% in the next year.