SNAM SPA (SRG.MI) Stock Fundamental Analysis

Europe • Euronext Milan • BIT:SRG • IT0003153415

6.072 EUR
-0.03 (-0.56%)
Last: Feb 12, 2026, 12:56 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to SRG. SRG was compared to 5 industry peers in the Gas Utilities industry. There are concerns on the financial health of SRG while its profitability can be described as average. While showing a medium growth rate, SRG is valued expensive at the moment.


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

  • SRG had positive earnings in the past year.
  • In the past year SRG had a positive cash flow from operations.
  • SRG had positive earnings in each of the past 5 years.
  • SRG had a positive operating cash flow in 4 of the past 5 years.
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 0 2B 4B

1.2 Ratios

  • With an excellent Return On Assets value of 6.13%, SRG belongs to the best of the industry, outperforming 100.00% of the companies in the same industry.
  • SRG has a Return On Equity of 24.13%. This is in the better half of the industry: SRG outperforms 80.00% of its industry peers.
  • SRG has a Return On Invested Capital (7.18%) which 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 6.44%.
  • The 3 year average ROIC (4.63%) for SRG is below the current ROIC(7.18%), indicating increased profibility in the last year.
Industry RankSector 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%
SRG.MI Yearly ROA, ROE, ROICSRG.MI Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15 20

1.3 Margins

  • Looking at the Profit Margin, with a value of 40.11%, 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.
  • SRG has a Operating Margin of 49.28%. This is amongst the best in the industry. SRG outperforms 100.00% of its industry peers.
  • In the last couple of years the Operating Margin of SRG has declined.
  • SRG has a Gross Margin (51.90%) which is comparable to the rest of the industry.
  • In the last couple of years the Gross Margin of SRG has remained more or less at the same level.
Industry RankSector 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%
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 20 40 60 80

More info and screens

ROAROEROICOperating and Profit MarginShow most profitable peers

1

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.
  • Compared to 1 year ago, SRG has about the same amount of shares outstanding.
  • SRG has more shares outstanding than it did 5 years ago.
  • The debt/assets ratio for SRG is higher compared to a year ago.
SRG.MI Yearly Shares OutstandingSRG.MI Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 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 10B 20B 30B

2.2 Solvency

  • Based on the Altman-Z score of 1.02, we must say that SRG is in the distress zone and has some risk of bankruptcy.
  • SRG's Altman-Z score of 1.02 is on the low side compared to the rest of the industry. SRG is outperformed by 80.00% of its industry peers.
  • A Debt/Equity ratio of 1.87 is on the high side and indicates that SRG has dependencies on debt financing.
  • SRG has a worse Debt to Equity ratio (1.87) than 60.00% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.87
Debt/FCF N/A
Altman-Z 1.02
ROIC/WACC1.4
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 0 5B 10B

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 has a Current ratio of 0.90. This is comparable to the rest of the industry: SRG outperforms 60.00% of its industry peers.
  • A Quick Ratio of 0.66 indicates that SRG may have some problems paying its short term obligations.
  • SRG's Quick ratio of 0.66 is on the low side compared to the rest of the industry. SRG is outperformed by 80.00% of its industry peers.
Industry RankSector Rank
Current Ratio 0.9
Quick Ratio 0.66
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 2B 4B 6B 8B 10B

More info and screens

WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. Growth

3.1 Past

  • SRG shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 14.65%, which is quite good.
  • The Earnings Per Share has been growing slightly by 2.97% on average over the past years.
  • Looking at the last year, SRG shows a decrease in Revenue. The Revenue has decreased by -2.72% in the last year.
  • The Revenue has been growing slightly by 6.01% on average over the past years.
EPS 1Y (TTM)14.65%
EPS 3Y-5.86%
EPS 5Y2.97%
EPS Q2Q%9.89%
Revenue 1Y (TTM)-2.72%
Revenue growth 3Y2.67%
Revenue growth 5Y6.01%
Sales Q2Q%-11.65%

3.2 Future

  • The Earnings Per Share is expected to grow by 4.19% on average over the next years.
  • Based on estimates for the next years, SRG will show a small growth in Revenue. The Revenue will grow by 3.04% on average per year.
EPS Next Y10.01%
EPS Next 2Y5.16%
EPS Next 3Y4.72%
EPS Next 5Y4.19%
Revenue Next Year-0.84%
Revenue Next 2Y2.72%
Revenue Next 3Y3.52%
Revenue Next 5Y3.04%

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • 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.
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

More info and screens

Find the best growth stocksShow best growing peers

3

4. Valuation

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 14.81, 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 60.00% of the companies are valued more cheaply.
  • The average S&P500 Price/Earnings ratio is at 28.18. SRG is valued slightly cheaper when compared to this.
  • The Price/Forward Earnings ratio is 14.37, which indicates a correct valuation of SRG.
  • SRG's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. SRG is cheaper than 80.00% of the companies in the same industry.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 28.01, SRG is valued a bit cheaper.
Industry RankSector Rank
PE 14.81
Fwd PE 14.37
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

  • SRG's Enterprise Value to EBITDA ratio is in line with the industry average.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 9.95
SRG.MI Per share dataSRG.MI EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 1 2

4.3 Compensation for Growth

  • SRG's 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)1.48
PEG (5Y)4.99
EPS Next 2Y5.16%
EPS Next 3Y4.72%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 4.95%, SRG is a good candidate for dividend investing.
  • SRG's Dividend Yield is a higher than the industry average which is at 4.60.
  • Compared to an average S&P500 Dividend Yield of 1.80, SRG pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.95%

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

  • SRG pays out 43.67% of its income as dividend. This is a bit on the high side, but may be sustainable.
  • The dividend of SRG is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP43.67%
EPS Next 2Y5.16%
EPS Next 3Y4.72%
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 0 1B -1B 2B
SRG.MI Dividend Payout.SRG.MI Dividend Payout, showing the Payout Ratio.SRG.MI Dividend Payout.PayoutRetained Earnings

More info and screens

Find the best dividend stocksShow peers with best dividend

SNAM SPA

BIT:SRG (2/12/2026, 12:56:13 PM)

6.072

-0.03 (-0.56%)

Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryGas Utilities
Earnings (Last)11-05
Earnings (Next)03-17
Inst Owners28.93%
Inst Owner ChangeN/A
Ins Owners7.45%
Ins Owner ChangeN/A
Market Cap20.41B
Revenue(TTM)5.58B
Net Income(TTM)2.21B
Analysts66.09
Price Target5.84 (-3.82%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.95%
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)0.8%
PT rev (3m)5.13%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)-0.16%
EPS NY rev (3m)0.79%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.2%
Valuation
Industry RankSector Rank
PE 14.81
Fwd PE 14.37
P/S 3.71
P/FCF N/A
P/OCF 10.87
P/B 2.23
P/tB 2.82
EV/EBITDA 9.95
EPS(TTM)0.41
EY6.75%
EPS(NY)0.42
Fwd EY6.96%
FCF(TTM)-0.29
FCFYN/A
OCF(TTM)0.56
OCFY9.2%
SpS1.64
BVpS2.72
TBVpS2.16
PEG (NY)1.48
PEG (5Y)4.99
Graham Number5.01
Profitability
Industry RankSector 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%
ROICexgc growth 3Y-1.38%
ROICexgc 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 RankSector 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 1.02
F-Score5
WACC5.13%
ROIC/WACC1.4
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)14.65%
EPS 3Y-5.86%
EPS 5Y2.97%
EPS Q2Q%9.89%
EPS Next Y10.01%
EPS Next 2Y5.16%
EPS Next 3Y4.72%
EPS Next 5Y4.19%
Revenue 1Y (TTM)-2.72%
Revenue growth 3Y2.67%
Revenue growth 5Y6.01%
Sales Q2Q%-11.65%
Revenue Next Year-0.84%
Revenue Next 2Y2.72%
Revenue Next 3Y3.52%
Revenue Next 5Y3.04%
EBIT growth 1Y11.62%
EBIT growth 3Y5.97%
EBIT growth 5Y3.08%
EBIT Next Year70.37%
EBIT Next 3Y23.42%
EBIT Next 5Y15.18%
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%

SNAM SPA / SRG.MI FAQ

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

ChartMill assigns a fundamental rating of 4 / 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.


Can you provide the profitability details for SNAM SPA?

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


Can you provide the PE and PB ratios for SRG stock?

The Price/Earnings (PE) ratio for SNAM SPA (SRG.MI) is 14.81 and the Price/Book (PB) ratio is 2.23.


How sustainable is the dividend of SNAM SPA (SRG.MI) stock?

The dividend rating of SNAM SPA (SRG.MI) is 6 / 10 and the dividend payout ratio is 43.67%.