SNAM SPA (SRG.MI) Stock Fundamental Analysis
Europe - BIT:SRG - IT0003153415 - Common Stock
5.133 EUR
-0.04 (-0.75%)
Taking everything into account, SRG scores 4 out of 10 in our fundamental rating. SRG was compared to 4 industry peers in the Gas Utilities industry. SRG has a medium profitability rating, but doesn't score so well on its financial health evaluation. SRG has a correct valuation and a medium growth rate.
1. Profitability
1.1 Basic Checks
In the past year SRG was profitable.
In the past year SRG had a positive cash flow from operations.
Each year in the past 5 years SRG has been profitable.
Of the past 5 years SRG 4 years had a positive operating cash flow.
1.2 Ratios
SRG has a Return On Assets of 6.13%. This is amongst the best in the industry. SRG outperforms 100.00% of its industry peers.
SRG's Return On Equity of 24.13% is fine compared to the rest of the industry. SRG outperforms 75.00% of its industry peers.
The Return On Invested Capital of SRG (7.18%) is comparable to the rest of the industry.
SRG had an Average Return On Invested Capital over the past 3 years of 4.63%. This is in line with the industry average of 6.52%.
The last Return On Invested Capital (7.18%) for SRG is above the 3 year average (4.63%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 6.13% | ||
| ROE | 24.13% | ||
| ROIC | 7.18% |
ROA(3y)2.99%
ROA(5y)3.75%
ROE(3y)12.65%
ROE(5y)15.15%
ROIC(3y)4.63%
ROIC(5y)4.83%
1.3 Margins
SRG's Profit Margin of 40.11% is amongst the best of the industry. SRG outperforms 100.00% of its industry peers.
SRG's Profit Margin has declined in the last couple of years.
The Operating Margin of SRG (49.28%) is better than 100.00% of its industry peers.
In the last couple of years the Operating Margin of SRG has declined.
With a Gross Margin value of 51.90%, SRG perfoms like the industry average, outperforming 50.00% of the companies in the same industry.
In the last couple of years the Gross Margin of SRG has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 49.28% | ||
| PM (TTM) | 40.11% | ||
| GM | 51.9% |
OM growth 3Y3.22%
OM growth 5Y-2.76%
PM growth 3Y-8.04%
PM growth 5Y-2.91%
GM growth 3Y4.14%
GM growth 5Y-0.97%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), SRG is creating some value.
The number of shares outstanding for SRG remains at a similar level compared to 1 year ago.
The number of shares outstanding for SRG has been increased compared to 5 years ago.
The debt/assets ratio for SRG is higher compared to a year ago.
2.2 Solvency
Based on the Altman-Z score of 0.95, we must say that SRG is in the distress zone and has some risk of bankruptcy.
SRG has a Altman-Z score (0.95) which is in line with its industry peers.
A Debt/Equity ratio of 1.87 is on the high side and indicates that SRG has dependencies on debt financing.
With a Debt to Equity ratio value of 1.87, SRG perfoms like the industry average, outperforming 50.00% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.87 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 0.95 |
ROIC/WACC1.48
WACC4.84%
2.3 Liquidity
SRG has a Current Ratio of 0.90. This is a bad value and indicates that SRG is not financially healthy enough and could expect problems in meeting its short term obligations.
SRG's Current ratio of 0.90 is fine compared to the rest of the industry. SRG outperforms 75.00% of its industry peers.
SRG has a Quick Ratio of 0.90. This is a bad value and indicates that SRG is not financially healthy enough and could expect problems in meeting its short term obligations.
SRG has a Quick ratio (0.66) which is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.9 | ||
| Quick Ratio | 0.66 |
3. Growth
3.1 Past
SRG shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 12.43%, which is quite good.
SRG shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 2.97% yearly.
The Revenue has decreased by -7.46% in the past year.
Measured over the past years, SRG shows a small growth in Revenue. The Revenue has been growing by 6.01% on average per year.
EPS 1Y (TTM)12.43%
EPS 3Y-5.86%
EPS 5Y2.97%
EPS Q2Q%-4.76%
Revenue 1Y (TTM)-7.46%
Revenue growth 3Y2.67%
Revenue growth 5Y6.01%
Sales Q2Q%3.54%
3.2 Future
The Earnings Per Share is expected to grow by 3.64% on average over the next years.
The Revenue is expected to grow by 2.96% on average over the next years.
EPS Next Y8.76%
EPS Next 2Y4.5%
EPS Next 3Y4.63%
EPS Next 5Y3.64%
Revenue Next Year0.05%
Revenue Next 2Y3.01%
Revenue Next 3Y3.82%
Revenue Next 5Y2.96%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 12.83, which indicates a correct valuation of SRG.
Based on the Price/Earnings ratio, SRG is valued a bit more expensive than the industry average as 75.00% of the companies are valued more cheaply.
SRG's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 27.50.
The Price/Forward Earnings ratio is 12.31, which indicates a correct valuation of SRG.
SRG's Price/Forward Earnings is on the same level as the industry average.
The average S&P500 Price/Forward Earnings ratio is at 22.99. SRG is valued slightly cheaper when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.83 | ||
| Fwd PE | 12.31 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, SRG is valued a bit cheaper than the industry average as 75.00% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 9.13 |
4.3 Compensation for Growth
The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
SRG has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)1.46
PEG (5Y)4.32
EPS Next 2Y4.5%
EPS Next 3Y4.63%
5. Dividend
5.1 Amount
SRG has a Yearly Dividend Yield of 5.67%, which is a nice return.
SRG's Dividend Yield is a higher than the industry average which is at 5.47.
SRG's Dividend Yield is rather good when compared to the S&P500 average which is at 2.44.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.67% |
5.2 History
The dividend of SRG has a limited annual growth rate of 4.51%.
Dividend Growth(5Y)4.51%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
43.67% of the earnings are spent on dividend by SRG. 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.
DP43.67%
EPS Next 2Y4.5%
EPS Next 3Y4.63%
BIT:SRG (10/15/2025, 12:17:08 PM)
5.133
-0.04 (-0.75%)
Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryGas Utilities
Earnings (Last)
Earnings (Next)
Inst Owners29.49%
Inst Owner ChangeN/A
Ins Owners7.45%
Ins Owner ChangeN/A
Market Cap17.25B
Analysts68.7
Price Target5.53 (7.73%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.67% |
Yearly Dividend0.28
Dividend Growth(5Y)4.51%
DP43.67%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)5.67%
Min EPS beat(2)-6.3%
Max EPS beat(2)17.64%
EPS beat(4)2
Avg EPS beat(4)2.44%
Min EPS beat(4)-13.92%
Max EPS beat(4)17.64%
EPS beat(8)4
Avg EPS beat(8)2.26%
EPS beat(12)6
Avg EPS beat(12)0.08%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-0.95%
Min Revenue beat(2)-1.8%
Max Revenue beat(2)-0.11%
Revenue beat(4)0
Avg Revenue beat(4)-7.75%
Min Revenue beat(4)-25.83%
Max Revenue beat(4)-0.11%
Revenue beat(8)2
Avg Revenue beat(8)2.07%
Revenue beat(12)5
Avg Revenue beat(12)12.97%
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0.41%
PT rev (3m)0.71%
EPS NQ rev (1m)0%
EPS NQ rev (3m)1.78%
EPS NY rev (1m)0%
EPS NY rev (3m)3.61%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)1.26%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.88%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.83 | ||
| Fwd PE | 12.31 | ||
| P/S | 3.14 | ||
| P/FCF | N/A | ||
| P/OCF | 9.19 | ||
| P/B | 1.89 | ||
| P/tB | 2.38 | ||
| EV/EBITDA | 9.13 |
EPS(TTM)0.4
EY7.79%
EPS(NY)0.42
Fwd EY8.13%
FCF(TTM)-0.29
FCFYN/A
OCF(TTM)0.56
OCFY10.89%
SpS1.64
BVpS2.72
TBVpS2.16
PEG (NY)1.46
PEG (5Y)4.32
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 6.13% | ||
| ROE | 24.13% | ||
| ROCE | 9.95% | ||
| ROIC | 7.18% | ||
| ROICexc | 7.68% | ||
| ROICexgc | 8.27% | ||
| OM | 49.28% | ||
| PM (TTM) | 40.11% | ||
| GM | 51.9% | ||
| FCFM | N/A |
ROA(3y)2.99%
ROA(5y)3.75%
ROE(3y)12.65%
ROE(5y)15.15%
ROIC(3y)4.63%
ROIC(5y)4.83%
ROICexc(3y)4.97%
ROICexc(5y)5.28%
ROICexgc(3y)5.31%
ROICexgc(5y)5.63%
ROCE(3y)6.69%
ROCE(5y)7.13%
ROICexcg growth 3Y-1.38%
ROICexcg growth 5Y-4.6%
ROICexc growth 3Y-1.53%
ROICexc growth 5Y-4.68%
OM growth 3Y3.22%
OM growth 5Y-2.76%
PM growth 3Y-8.04%
PM growth 5Y-2.91%
GM growth 3Y4.14%
GM growth 5Y-0.97%
F-Score5
Asset Turnover0.15
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.87 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 4.52 | ||
| Cap/Depr | 262.59% | ||
| Cap/Sales | 51.59% | ||
| Interest Coverage | 6.56 | ||
| Cash Conversion | 49.56% | ||
| Profit Quality | N/A | ||
| Current Ratio | 0.9 | ||
| Quick Ratio | 0.66 | ||
| Altman-Z | 0.95 |
F-Score5
WACC4.84%
ROIC/WACC1.48
Cap/Depr(3y)209.59%
Cap/Depr(5y)186.27%
Cap/Sales(3y)52.8%
Cap/Sales(5y)47.64%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)12.43%
EPS 3Y-5.86%
EPS 5Y2.97%
EPS Q2Q%-4.76%
EPS Next Y8.76%
EPS Next 2Y4.5%
EPS Next 3Y4.63%
EPS Next 5Y3.64%
Revenue 1Y (TTM)-7.46%
Revenue growth 3Y2.67%
Revenue growth 5Y6.01%
Sales Q2Q%3.54%
Revenue Next Year0.05%
Revenue Next 2Y3.01%
Revenue Next 3Y3.82%
Revenue Next 5Y2.96%
EBIT growth 1Y11.62%
EBIT growth 3Y5.97%
EBIT growth 5Y3.08%
EBIT Next Year69.4%
EBIT Next 3Y23.61%
EBIT Next 5Y14.97%
FCF growth 1Y-103.83%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y75.19%
OCF growth 3Y10.68%
OCF growth 5Y4.07%