SNAM SPA (SRG.MI) Fundamental Analysis & Valuation

BIT:SRG • IT0003153415

Current stock price

6.592 EUR
-0.13 (-1.99%)
Last:

This SRG.MI fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

6

1. SRG.MI Profitability Analysis

1.1 Basic Checks

  • SRG had positive earnings in the past year.
  • SRG had a positive operating cash flow in the past year.
  • SRG had positive earnings in each of the past 5 years.
  • Of the past 5 years SRG 4 years had a positive operating cash flow.
SRG.MI Yearly Net Income VS EBIT VS OCF VS FCFSRG.MI Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 2B 4B

1.2 Ratios

  • With a decent Return On Assets value of 5.59%, SRG is doing good in the industry, outperforming 75.00% of the companies in the same industry.
  • SRG's Return On Equity of 22.40% is fine compared to the rest of the industry. SRG outperforms 75.00% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 7.92%, SRG 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 SRG is below the industry average of 6.91%.
  • The last Return On Invested Capital (7.92%) for SRG is above the 3 year average (4.85%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 5.59%
ROE 22.4%
ROIC 7.92%
ROA(3y)3.45%
ROA(5y)3.58%
ROE(3y)14.24%
ROE(5y)14.49%
ROIC(3y)4.85%
ROIC(5y)4.87%
SRG.MI Yearly ROA, ROE, ROICSRG.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15 20

1.3 Margins

  • Looking at the Profit Margin, with a value of 35.70%, SRG belongs to the top of the industry, outperforming 100.00% of the companies in the same industry.
  • SRG's Profit Margin has declined in the last couple of years.
  • The Operating Margin of SRG (48.73%) is better than 100.00% of its industry peers.
  • In the last couple of years the Operating Margin of SRG has remained more or less at the same level.
  • SRG has a Gross Margin of 54.25%. This is comparable to the rest of the industry: SRG outperforms 50.00% of its industry peers.
  • SRG's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 48.73%
PM (TTM) 35.7%
GM 54.25%
OM growth 3Y7.21%
OM growth 5Y-1.49%
PM growth 3Y19.64%
PM growth 5Y-3.83%
GM growth 3Y6.17%
GM growth 5Y-0.2%
SRG.MI Yearly Profit, Operating, Gross MarginsSRG.MI Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 20 40 60 80

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1

2. SRG.MI Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), SRG is creating some value.
  • SRG has about the same amout of shares outstanding than it did 1 year ago.
  • The number of shares outstanding for SRG has been increased compared to 5 years ago.
  • Compared to 1 year ago, SRG has a worse debt to assets ratio.
SRG.MI Yearly Shares OutstandingSRG.MI Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B
SRG.MI Yearly Total Debt VS Total AssetsSRG.MI Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10B 20B 30B

2.2 Solvency

  • SRG has an Altman-Z score of 0.98. This is a bad value and indicates that SRG is not financially healthy and even has some risk of bankruptcy.
  • SRG's Altman-Z score of 0.98 is on the low side compared to the rest of the industry. SRG is outperformed by 75.00% of its industry peers.
  • SRG has a Debt/Equity ratio of 1.65. This is a high value indicating a heavy dependency on external financing.
  • SRG's Debt to Equity ratio of 1.65 is in line compared to the rest of the industry. SRG outperforms 50.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.65
Debt/FCF N/A
Altman-Z 0.98
ROIC/WACC1.54
WACC5.13%
SRG.MI Yearly LT Debt VS Equity VS FCFSRG.MI Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 5B 10B

2.3 Liquidity

  • SRG has a Current Ratio of 0.72. This is a bad value and indicates that SRG is not financially healthy enough and could expect problems in meeting its short term obligations.
  • The Current ratio of SRG (0.72) is worse than 75.00% of its industry peers.
  • A Quick Ratio of 0.53 indicates that SRG may have some problems paying its short term obligations.
  • With a Quick ratio value of 0.53, SRG is not doing good in the industry: 75.00% of the companies in the same industry are doing better.
Industry RankSector Rank
Current Ratio 0.72
Quick Ratio 0.53
SRG.MI Yearly Current Assets VS Current LiabilitesSRG.MI Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B 10B

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4

3. SRG.MI Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an nice 9.95% over the past year.
  • The Earnings Per Share has been growing slightly by 2.79% on average over the past years.
  • The Revenue has grown by 9.01% in the past year. This is quite good.
  • The Revenue has been growing slightly by 7.00% on average over the past years.
EPS 1Y (TTM)9.95%
EPS 3Y5.57%
EPS 5Y2.79%
EPS Q2Q%14.94%
Revenue 1Y (TTM)9.01%
Revenue growth 3Y3.39%
Revenue growth 5Y7%
Sales Q2Q%47.38%

3.2 Future

  • SRG is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 3.70% yearly.
  • The Revenue is expected to grow by 4.25% on average over the next years.
EPS Next Y1.52%
EPS Next 2Y2.44%
EPS Next 3Y3.27%
EPS Next 5Y3.7%
Revenue Next Year5.92%
Revenue Next 2Y5.2%
Revenue Next 3Y4.95%
Revenue Next 5Y4.25%

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 decreasing: in the next years the growth will be less than in the last years.
SRG.MI Yearly Revenue VS EstimatesSRG.MI Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 1B 2B 3B 4B
SRG.MI Yearly EPS VS EstimatesSRG.MI Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0.1 0.2 0.3 0.4 0.5

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3

4. SRG.MI Valuation Analysis

4.1 Price/Earnings Ratio

  • SRG is valuated correctly with a Price/Earnings ratio of 15.70.
  • Compared to the rest of the industry, the Price/Earnings ratio of SRG is on the same level as its industry peers.
  • SRG's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 26.51.
  • A Price/Forward Earnings ratio of 15.46 indicates a correct valuation of SRG.
  • Based on the Price/Forward Earnings ratio, SRG is valued a bit cheaper than the industry average as 75.00% of the companies are valued more expensively.
  • SRG's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 21.41.
Industry RankSector Rank
PE 15.7
Fwd PE 15.46
SRG.MI Price Earnings VS Forward Price EarningsSRG.MI Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • The rest of the industry has a similar Enterprise Value to EBITDA ratio as SRG.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 10.11
SRG.MI Per share dataSRG.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 0.5 1 1.5 2 2.5

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
  • SRG has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)10.31
PEG (5Y)5.63
EPS Next 2Y2.44%
EPS Next 3Y3.27%

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6

5. SRG.MI Dividend Analysis

5.1 Amount

  • SRG has a Yearly Dividend Yield of 4.49%, which is a nice return.
  • Compared to an average industry Dividend Yield of 4.80, SRG has a dividend in line with its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.80, SRG pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.49%

5.2 History

  • The dividend of SRG has a limited annual growth rate of 4.11%.
Dividend Growth(5Y)4.11%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

  • SRG pays out 47.08% of its income as dividend. This is a bit on the high side, but may be sustainable.
  • SRG's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP47.08%
EPS Next 2Y2.44%
EPS Next 3Y3.27%
SRG.MI Yearly Income VS Free CF VS DividendSRG.MI Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 1B -1B 2B
SRG.MI Dividend Payout.SRG.MI Dividend Payout, showing the Payout Ratio.SRG.MI Dividend Payout.PayoutRetained Earnings

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SRG.MI Fundamentals: All Metrics, Ratios and Statistics

SNAM SPA

BIT:SRG (5/4/2026, 10:42:58 AM)

6.592

-0.13 (-1.99%)

Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryGas Utilities
Industry Strength83.78
Industry Growth92.67
Earnings (Last)03-05
Earnings (Next)05-13
Inst Owners30.19%
Inst Owner ChangeN/A
Ins Owners7.45%
Ins Owner ChangeN/A
Market Cap22.15B
Revenue(TTM)5.79B
Net Income(TTM)2.07B
Analysts66.67
Price Target6.54 (-0.79%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.49%
Yearly Dividend0.29
Dividend Growth(5Y)4.11%
DP47.08%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)5.17%
Min EPS beat(2)3.49%
Max EPS beat(2)6.84%
EPS beat(4)3
Avg EPS beat(4)5.42%
Min EPS beat(4)-6.3%
Max EPS beat(4)17.64%
EPS beat(8)5
Avg EPS beat(8)3.97%
EPS beat(12)7
Avg EPS beat(12)2.43%
EPS beat(16)10
Avg EPS beat(16)2.3%
Revenue beat(2)2
Avg Revenue beat(2)0.74%
Min Revenue beat(2)0.19%
Max Revenue beat(2)1.28%
Revenue beat(4)2
Avg Revenue beat(4)-0.11%
Min Revenue beat(4)-1.8%
Max Revenue beat(4)1.28%
Revenue beat(8)2
Avg Revenue beat(8)-6.94%
Revenue beat(12)5
Avg Revenue beat(12)2.29%
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)3.32%
PT rev (3m)12.72%
EPS NQ rev (1m)-7.31%
EPS NQ rev (3m)-7.31%
EPS NY rev (1m)1.43%
EPS NY rev (3m)0.93%
Revenue NQ rev (1m)3.29%
Revenue NQ rev (3m)3.7%
Revenue NY rev (1m)-0.72%
Revenue NY rev (3m)-0.41%
Valuation
Industry RankSector Rank
PE 15.7
Fwd PE 15.46
P/S 3.82
P/FCF N/A
P/OCF 8.24
P/B 2.4
P/tB 3.05
EV/EBITDA 10.11
EPS(TTM)0.42
EY6.37%
EPS(NY)0.43
Fwd EY6.47%
FCF(TTM)-0.01
FCFYN/A
OCF(TTM)0.8
OCFY12.13%
SpS1.72
BVpS2.75
TBVpS2.16
PEG (NY)10.31
PEG (5Y)5.63
Graham Number5.09631 (-22.69%)
Profitability
Industry RankSector Rank
ROA 5.59%
ROE 22.4%
ROCE 10.82%
ROIC 7.92%
ROICexc 8.44%
ROICexgc 9.15%
OM 48.73%
PM (TTM) 35.7%
GM 54.25%
FCFM N/A
ROA(3y)3.45%
ROA(5y)3.58%
ROE(3y)14.24%
ROE(5y)14.49%
ROIC(3y)4.85%
ROIC(5y)4.87%
ROICexc(3y)5.17%
ROICexc(5y)5.21%
ROICexgc(3y)5.55%
ROICexgc(5y)5.57%
ROCE(3y)6.88%
ROCE(5y)6.96%
ROICexgc growth 3Y3.37%
ROICexgc growth 5Y-1.87%
ROICexc growth 3Y2.9%
ROICexc growth 5Y-2.15%
OM growth 3Y7.21%
OM growth 5Y-1.49%
PM growth 3Y19.64%
PM growth 5Y-3.83%
GM growth 3Y6.17%
GM growth 5Y-0.2%
F-Score8
Asset Turnover0.16
Health
Industry RankSector Rank
Debt/Equity 1.65
Debt/FCF N/A
Debt/EBITDA 3.89
Cap/Depr 245.83%
Cap/Sales 46.75%
Interest Coverage 6.71
Cash Conversion 68.47%
Profit Quality N/A
Current Ratio 0.72
Quick Ratio 0.53
Altman-Z 0.98
F-Score8
WACC5.13%
ROIC/WACC1.54
Cap/Depr(3y)242.02%
Cap/Depr(5y)205.26%
Cap/Sales(3y)63.5%
Cap/Sales(5y)53.17%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)9.95%
EPS 3Y5.57%
EPS 5Y2.79%
EPS Q2Q%14.94%
EPS Next Y1.52%
EPS Next 2Y2.44%
EPS Next 3Y3.27%
EPS Next 5Y3.7%
Revenue 1Y (TTM)9.01%
Revenue growth 3Y3.39%
Revenue growth 5Y7%
Sales Q2Q%47.38%
Revenue Next Year5.92%
Revenue Next 2Y5.2%
Revenue Next 3Y4.95%
Revenue Next 5Y4.25%
EBIT growth 1Y8.41%
EBIT growth 3Y10.84%
EBIT growth 5Y5.4%
EBIT Next Year67.18%
EBIT Next 3Y22.76%
EBIT Next 5Y15.28%
FCF growth 1Y97.9%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y48.18%
OCF growth 3Y-13.19%
OCF growth 5Y10.97%

SNAM SPA / SRG.MI Fundamental Analysis FAQ

What is the ChartMill fundamental rating of SNAM SPA (SRG.MI) stock?

ChartMill assigns a fundamental rating of 3 / 10 to SRG.MI.


What is the valuation status for SRG stock?

ChartMill assigns a valuation rating of 3 / 10 to SNAM SPA (SRG.MI). This can be considered as Overvalued.


What is the profitability of SRG stock?

SNAM SPA (SRG.MI) has a profitability rating of 6 / 10.


How financially healthy is SNAM SPA?

The financial health rating of SNAM SPA (SRG.MI) is 0 / 10.


Is the dividend of SNAM SPA sustainable?

The dividend rating of SNAM SPA (SRG.MI) is 6 / 10 and the dividend payout ratio is 47.08%.