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.
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.
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 Rank | Sector 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%
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 Rank | Sector 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%
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.
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 Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.65 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 0.98 |
ROIC/WACC1.54
WACC5.13%
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 Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.72 | ||
| Quick Ratio | 0.53 |
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.
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 Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.7 | ||
| Fwd PE | 15.46 |
4.2 Price Multiples
- The rest of the industry has a similar Enterprise Value to EBITDA ratio as SRG.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 10.11 |
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%
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 Rank | Sector 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 Fundamentals: All Metrics, Ratios and Statistics
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 2026-03-05/amc
Earnings (Next)05-13 2026-05-13
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 Rank | Sector 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 Rank | Sector 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 Rank | Sector 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 Rank | Sector 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%.