Italgas（IG）株式概要Italgas S.p.A.はその子会社とともに、イタリア、ギリシャ、その他欧州連合諸国において天然ガスの配給を行っている。 詳細IG ファンダメンタル分析スノーフレーク・スコア評価2/6将来の成長1/6過去の実績4/6財務の健全性2/6配当金3/6報酬株価収益率（ 15.2 x） Italian市場（ 17.5 x）を下回っています。収益は年間8.45%増加すると予測されています 過去1年間で収益は28.8%増加しました リスク分析負債は営業キャッシュフローで十分にカバーされていない 過去1年間で株主の希薄化が進んだ すべてのリスクチェックを見るIG Community Fair Values Create NarrativeSee what 14 others think this stock is worth. Follow their fair value or set your own to get alerts.Analyst Price TargetsAN5.9% overvaluedAnalystConsensusTarget•5mo agoRenewable Gas Networks And Digitization Will Support Long Term Earnings Resilience502Top Analyst NarrativesItalgasANAnalystConsensusTargetBased on Analyst Price TargetsRenewable Gas Networks And Digitization Will Support Long Term Earnings ResilienceCatalysts About Italgas Italgas is a European leader in regulated gas, water and energy efficiency infrastructure, focused on digitalized networks that enable the energy transition across Italy and Greece. What are the underlying business or industry changes driving this perspective?View narrative€9.67FV5.9% 割高 内在価値ディスカウント0.35%Revenue growth p.a.Set Fair ValueView5users have viewed this narrative0users have liked this narrative0users have commented on this narrative2users have followed this narrative6 months ago author updated this narrativeView all narrativesItalgas S.p.A. 競合他社SnamSymbol: BIT:SRGMarket cap: €21.3bAscopiaveSymbol: BIT:ASCMarket cap: €703.4mAcinqueSymbol: BIT:AC5Market cap: €426.3mEdisonSymbol: BIT:EDNRMarket cap: €9.6b価格と性能株価の高値、安値、推移の概要Italgas過去の株価現在の株価€10.2552週高値€11.3052週安値€6.72ベータ0.691ヶ月の変化-0.58%3ヶ月変化-8.36%1年変化43.79%3年間の変化90.96%5年間の変化88.54%IPOからの変化158.06%最新ニュースUpcoming Dividend • May 11Upcoming dividend of €0.43 per shareEligible shareholders must have bought the stock before 18 May 2026. Payment date: 20 May 2026. Payout ratio is a comfortable 64% and the cash payout ratio is 82%. Trailing yield: 4.2%. Lower than top quartile of Italian dividend payers (4.6%). Lower than average of industry peers (5.3%).Reported Earnings • May 06First quarter 2026 earnings released: EPS: €0.18 (vs €0.21 in 1Q 2025)First quarter 2026 results: EPS: €0.18. Revenue: €661.7m (up 1.0% from 1Q 2025). Net income: €178.9m (up 6.0% from 1Q 2025). Profit margin: 27% (up from 26% in 1Q 2025). Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Gas Utilities industry in Europe.分析記事 • Mar 29We Think You Should Be Aware Of Some Concerning Factors In Italgas' (BIT:IG) EarningsItalgas S.p.A.'s ( BIT:IG ) healthy profit numbers didn't contain any surprises for investors. We believe that...お知らせ • Mar 24Italgas S.p.A., Annual General Meeting, Apr 21, 2026Italgas S.p.A., Annual General Meeting, Apr 21, 2026, at 11:00 W. Europe Standard Time.Reported Earnings • Mar 23Full year 2025 earnings released: EPS: €0.71 (vs €0.59 in FY 2024)Full year 2025 results: EPS: €0.71 (up from €0.59 in FY 2024). Revenue: €3.57b (up 43% from FY 2024). Net income: €672.3m (up 40% from FY 2024). Profit margin: 19% (in line with FY 2024). Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth.Declared Dividend • Mar 06Dividend increased to €0.43Dividend of €0.43 is 6.4% higher than last year. Ex-date: 18th May 2026 Payment date: 20th May 2026 Dividend yield will be 4.1%, which is lower than the industry average of 4.4%. Sustainability & Growth Dividend is covered by earnings (57% earnings payout ratio) but not covered by cash flows (126% cash payout ratio). The dividend has increased by an average of 8.9% per year over the past 9 years and payments have been stable during that time. EPS is expected to grow by 26% over the next 3 years, which should provide support to the dividend and adequate earnings cover.最新情報をもっと見るRecent updatesUpcoming Dividend • May 11Upcoming dividend of €0.43 per shareEligible shareholders must have bought the stock before 18 May 2026. Payment date: 20 May 2026. Payout ratio is a comfortable 64% and the cash payout ratio is 82%. Trailing yield: 4.2%. Lower than top quartile of Italian dividend payers (4.6%). Lower than average of industry peers (5.3%).Reported Earnings • May 06First quarter 2026 earnings released: EPS: €0.18 (vs €0.21 in 1Q 2025)First quarter 2026 results: EPS: €0.18. Revenue: €661.7m (up 1.0% from 1Q 2025). Net income: €178.9m (up 6.0% from 1Q 2025). Profit margin: 27% (up from 26% in 1Q 2025). Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Gas Utilities industry in Europe.分析記事 • Mar 29We Think You Should Be Aware Of Some Concerning Factors In Italgas' (BIT:IG) EarningsItalgas S.p.A.'s ( BIT:IG ) healthy profit numbers didn't contain any surprises for investors. We believe that...お知らせ • Mar 24Italgas S.p.A., Annual General Meeting, Apr 21, 2026Italgas S.p.A., Annual General Meeting, Apr 21, 2026, at 11:00 W. Europe Standard Time.Reported Earnings • Mar 23Full year 2025 earnings released: EPS: €0.71 (vs €0.59 in FY 2024)Full year 2025 results: EPS: €0.71 (up from €0.59 in FY 2024). Revenue: €3.57b (up 43% from FY 2024). Net income: €672.3m (up 40% from FY 2024). Profit margin: 19% (in line with FY 2024). Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth.Declared Dividend • Mar 06Dividend increased to €0.43Dividend of €0.43 is 6.4% higher than last year. Ex-date: 18th May 2026 Payment date: 20th May 2026 Dividend yield will be 4.1%, which is lower than the industry average of 4.4%. Sustainability & Growth Dividend is covered by earnings (57% earnings payout ratio) but not covered by cash flows (126% cash payout ratio). The dividend has increased by an average of 8.9% per year over the past 9 years and payments have been stable during that time. EPS is expected to grow by 26% over the next 3 years, which should provide support to the dividend and adequate earnings cover.お知らせ • Mar 05Italgas S.p.A. announces Annual dividend, payable on May 20, 2026Italgas S.p.A. announced Annual dividend of EUR 0.4320 per share payable on May 20, 2026, ex-date on May 18, 2026 and record date on May 19, 2026.お知らせ • Feb 19Italgas S.p.A. to Report Fiscal Year 2025 Results on Mar 04, 2026Italgas S.p.A. announced that they will report fiscal year 2025 results Pre-Market on Mar 04, 2026お知らせ • Jan 23+ 2 more updatesItalgas S.p.A. to Report Nine Months, 2026 Results on Oct 29, 2026Italgas S.p.A. announced that they will report nine months, 2026 results on Oct 29, 2026Price Target Changed • Nov 03Price target increased by 9.2% to €9.07Up from €8.30, the current price target is an average from 15 analysts. New target price is approximately in line with last closing price of €9.30. Stock is up 65% over the past year. The company is forecast to post earnings per share of €0.68 for next year compared to €0.59 last year.Reported Earnings • Nov 02Third quarter 2025 earnings releasedThird quarter 2025 results: EPS: €0.17. Revenue: €238.8m (down 45% from 3Q 2024). Net income: €176.8m (up 47% from 3Q 2024). Profit margin: 74% (up from 28% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth.Price Target Changed • Oct 31Price target increased by 11% to €8.67Up from €7.84, the current price target is an average from 15 analysts. New target price is approximately in line with last closing price of €9.09. Stock is up 61% over the past year. The company is forecast to post earnings per share of €0.68 for next year compared to €0.59 last year.Price Target Changed • Sep 23Price target increased by 7.8% to €7.79Up from €7.23, the current price target is an average from 14 analysts. New target price is approximately in line with last closing price of €7.69. Stock is up 42% over the past year. The company is forecast to post earnings per share of €0.68 for next year compared to €0.59 last year.分析記事 • Sep 05Lacklustre Performance Is Driving Italgas S.p.A.'s (BIT:IG) Low P/EWhen close to half the companies in Italy have price-to-earnings ratios (or "P/E's") above 18x, you may consider...分析記事 • Aug 09Italgas' (BIT:IG) Earnings Are Of Questionable QualityBIT:IG 1 Year Share Price vs Fair Value Explore Italgas's Fair Values from the Community and select yours Italgas...Reported Earnings • Jul 27Second quarter 2025 earnings releasedSecond quarter 2025 results: Revenue: €471.5m (down 37% from 2Q 2024). Net income: €147.8m (up 27% from 2Q 2024). Profit margin: 31% (up from 16% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Gas Utilities industry in Europe.分析記事 • Jul 26A Look At The Intrinsic Value Of Italgas S.p.A. (BIT:IG)Key Insights Italgas' estimated fair value is €6.47 based on 2 Stage Free Cash Flow to Equity With €7.23 share price...New Risk • Jul 07New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 25% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Minor Risks Dividend is not well covered by cash flows (122% cash payout ratio). Shareholders have been diluted in the past year (25% increase in shares outstanding).お知らせ • May 29Italgas S.p.A. has filed a Follow-on Equity Offering in the amount of €1.019969 billion.Italgas S.p.A. has filed a Follow-on Equity Offering in the amount of €1.019969 billion. Security Name: Shares Security Type: Common Stock Securities Offered: 202,938,478 Price\Range: €5.026 Transaction Features: Rights OfferingPrice Target Changed • May 12Price target increased by 7.3% to €7.04Up from €6.56, the current price target is an average from 11 analysts. New target price is approximately in line with last closing price of €7.11. Stock is up 32% over the past year. The company is forecast to post earnings per share of €0.73 for next year compared to €0.59 last year.Upcoming Dividend • May 12Upcoming dividend of €0.41 per shareEligible shareholders must have bought the stock before 19 May 2025. Payment date: 21 May 2025. Payout ratio is a comfortable 62% and the cash payout ratio is 98%. Trailing yield: 5.6%. Within top quartile of Italian dividend payers (5.5%). In line with average of industry peers (6.0%).Reported Earnings • May 09First quarter 2025 earnings releasedFirst quarter 2025 results: EPS: €0.21. Revenue: €513.7m (up 19% from 1Q 2024). Net income: €168.7m (up 44% from 1Q 2024). Profit margin: 33% (up from 27% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 5% per year.Major Estimate Revision • May 08Consensus revenue estimates increase by 13%The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from €2.18b to €2.46b. EPS estimate unchanged from €0.66 at last update. Gas Utilities industry in Italy expected to see average net income growth of 1.7% next year. Consensus price target up from €6.56 to €6.99. Share price was steady at €7.29 over the past week.Buy Or Sell Opportunity • Apr 09Now 21% undervaluedOver the last 90 days, the stock has risen 18% to €6.44. The fair value is estimated to be €8.18, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.2% over the last 3 years. Earnings per share has grown by 8.9%. For the next 3 years, revenue is forecast to grow by 6.3% per annum. Earnings are also forecast to grow by 11% per annum over the same time period.Reported Earnings • Mar 14Full year 2024 earnings: EPS in line with expectations, revenues disappointFull year 2024 results: EPS: €0.59 (up from €0.54 in FY 2023). Revenue: €2.50b (down 4.2% from FY 2023). Net income: €478.9m (up 8.9% from FY 2023). Profit margin: 19% (up from 17% in FY 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.お知らせ • Mar 12Italgas S.p.A., Annual General Meeting, May 13, 2025Italgas S.p.A., Annual General Meeting, May 13, 2025, at 14:00 W. Europe Standard Time.Declared Dividend • Feb 14Dividend increased to €0.41Dividend of €0.41 is 15% higher than last year. Ex-date: 19th May 2025 Payment date: 21st May 2025 Dividend yield will be 6.8%, which is higher than the industry average of 4.4%. Sustainability & Growth Dividend is covered by earnings (62% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 7.3% per year over the past 8 years and payments have been stable during that time. EPS is expected to grow by 21% over the next 3 years, which should provide support to the dividend and adequate earnings cover.お知らせ • Jan 22+ 3 more updatesItalgas S.p.A. to Report First Half, 2025 Results on Jul 24, 2025Italgas S.p.A. announced that they will report first half, 2025 results on Jul 24, 2025Reported Earnings • Oct 25Third quarter 2024 earnings releasedThird quarter 2024 results: EPS: €0.15. Revenue: €437.0m (flat on 3Q 2023). Net income: €120.2m (up 16% from 3Q 2023). Profit margin: 28% (up from 24% in 3Q 2023). Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.Reported Earnings • Jul 25Second quarter 2024 earnings releasedSecond quarter 2024 results: Revenue: €431.1m (down 46% from 2Q 2023). Net income: €116.8m (up 6.5% from 2Q 2023). Profit margin: 27% (up from 14% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is expected to decline by 2.2% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to grow by 1.2%.お知らせ • Jul 13Italgas S.p.A. to Report First Half, 2024 Results on Jul 24, 2024Italgas S.p.A. announced that they will report first half, 2024 results on Jul 24, 2024お知らせ • May 16Italgas Begins Exclusive Talks to Buy 2i Rete GasItalgas S.p.A. (BIT:IG), Europe's biggest gas distributor, said on May 13, 2024 that it started exclusive talks to acquire smaller rival 2i Rete Gas SpA. A merger between the two would be a major step in the consolidation of the gas distribution market in Italy with 2i Rete gas adding a 20% market share to Italgas' 35%, according to analyst calculations. 2i Rete Gas, which is Italy's second-largest distributor for the fuel, said in February it wanted to list on the Milan bourse, but in March media speculation emerged about an approach by Italgas valuing the rival at EUR 4 billion to EUR 5 billion ($4.3 billion to $5.4 billion). Sources told Reuters on May 13, 2024 that Italgas had nudged up a preliminary offer, winning the green light from the rival's shareholders for several weeks of exclusive talks. Italian infrastructure fund F2i has a 64% stake in 2i Rete Gas. Dutch pension fund APG and buyout group Ardian together hold the remaining 36.1% under the vehicle Finavias. "Without interrupting the listing process, F2i and Finavias have granted Italgas a period of exclusivity in order to complete a due diligence preparatory to a possible binding purchase offer," investors in 2i Rete Gas said in a separate statement. Should the acquisition go through, Italgas will finance the acquisition via a bridge credit facility underwritten by JP Morgan, which could be refinanced through a combination of equity, debt or equity like instruments, the suitor said. JP Morgan is acting as financial adviser and Legance is acting as legal adviser to Italgas. Rothschild is advising Ardian and APG, while Lazard is assisting F2i.Reported Earnings • May 15First quarter 2024 earnings releasedFirst quarter 2024 results: EPS: €0.14. Revenue: €431.3m (down 10% from 1Q 2023). Net income: €117.6m (up 14% from 1Q 2023). Profit margin: 27% (up from 22% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is expected to decline by 2.2% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to grow by 1.4%. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.Upcoming Dividend • May 13Upcoming dividend of €0.35 per shareEligible shareholders must have bought the stock before 20 May 2024. Payment date: 22 May 2024. Payout ratio is a comfortable 65% but the company is not cash flow positive. Trailing yield: 6.6%. Within top quartile of Italian dividend payers (5.4%). In line with average of industry peers (6.4%).Declared Dividend • Mar 17Dividend increased to €0.35Dividend of €0.35 is 11% higher than last year. Ex-date: 20th May 2024 Payment date: 22nd May 2024 Dividend yield will be 6.6%, which is higher than the industry average of 4.4%. Sustainability & Growth Dividend is covered by earnings (59% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 8.4% per year over the past 7 years and payments have been stable during that time. EPS is expected to grow by 5.3% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Mar 14Full year 2023 earnings releasedFull year 2023 results: Revenue: €1.82b (down 19% from FY 2022). Net income: €439.6m (up 7.9% from FY 2022). Profit margin: 24% (up from 18% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Gas Utilities industry in Europe.お知らせ • Jan 30+ 2 more updatesItalgas S.p.A. to Report Nine Months, 2024 Results on Oct 24, 2024Italgas S.p.A. announced that they will report nine months, 2024 results on Oct 24, 2024Reported Earnings • Oct 27Third quarter 2023 earnings releasedThird quarter 2023 results: EPS: €0.13. Revenue: €438.0m (up 34% from 3Q 2022). Net income: €103.5m (up 3.3% from 3Q 2022). Profit margin: 24% (down from 31% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is expected to fall by 4.3% p.a. on average during the next 3 years compared to a 1.7% decline forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.お知らせ • Oct 18Italgas S.p.A. (BIT:IG) completed the acquisition of Acqua S.r.l., Idrolatina S.r.l., and Acqua Campania S.p.A from Veolia Environnement SA (ENXTPA:VIE).Italgas S.p.A. (BIT:IG) signed a purchase agreement to acquire Acqua S.r.l., Idrolatina S.r.l., and Acqua Campania S.p.A from Veolia Environnement SA (ENXTPA:VIE) for approximately €115 million on June 9, 2023. The consideration which includes partially depending upon certain targets of the operational companies. Through this transaction Italgas will acquire 100% of Acqua S.r.l., which in turn directly holds 98.7% of Idrosicilia S.p.A. and, indirectly, 75% of the equity of Siciliacque S.p.A, 100% of Idrolatina S.r.l., which in turn holds about 49% of Acqualatina S.p.A and 47.9% of Acqua Campania S.p.A from Veolia. The closing of the transaction is subject to the fulfillment of certain conditions precedent, including the involvement or approval by the Public Bodies which awarded the water service concession. Italgas S.p.A. (BIT:IG) completed the acquisition of Acqua S.r.l., Idrolatina S.r.l., and Acqua Campania S.p.A from Veolia Environnement SA (ENXTPA:VIE) on October 16, 2023. Nepta is the new name of the Italgas that will manage all the Group's water activities. The transaction has approved by the Granting Authorities.Reported Earnings • Jul 26Second quarter 2023 earnings releasedSecond quarter 2023 results: Revenue: €451.9m (down 35% from 2Q 2022). Net income: €109.6m (up 10% from 2Q 2022). Profit margin: 24% (up from 14% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is expected to fall by 3.5% p.a. on average during the next 3 years compared to a 2.7% decline forecast for the Gas Utilities industry in Europe.お知らせ • Jun 10Italgas S.p.A. (BIT:IG) signed a purchase agreement to acquire Acqua S.r.l., Idrolatina S.r.l., and Acqua Campania S.p.A from Veolia Environnement SA (ENXTPA:VIE) for approximately €115 million.Italgas S.p.A. (BIT:IG) signed a purchase agreement to acquire Acqua S.r.l., Idrolatina S.r.l., and Acqua Campania S.p.A from Veolia Environnement SA (ENXTPA:VIE) for approximately €115 million on June 9, 2023. The consideration which includes partially depending upon certain targets of the operational companies. Through this transaction Italgas will acquire 100% of Acqua S.r.l., which in turn directly holds 98.7% of Idrosicilia S.p.A. and, indirectly, 75% of the equity of Siciliacque S.p.A, 100% of Idrolatina S.r.l., which in turn holds about 49% of Acqualatina S.p.A and 47.9% of Acqua Campania S.p.A from Veolia. The closing of the transaction is subject to the fulfillment of certain conditions precedent, including the involvement or approval by the Public Bodies which awarded the water service concession.Upcoming Dividend • May 15Upcoming dividend of €0.32 per share at 5.3% yieldEligible shareholders must have bought the stock before 22 May 2023. Payment date: 24 May 2023. Payout ratio is a comfortable 61% but the company is paying out more than the cash it is generating. Trailing yield: 5.3%. Within top quartile of Italian dividend payers (5.3%). Higher than average of industry peers (4.4%).Reported Earnings • May 07First quarter 2023 earnings releasedFirst quarter 2023 results: EPS: €0.13. Revenue: €479.9m (up 36% from 1Q 2022). Net income: €103.6m (up 17% from 1Q 2022). Profit margin: 22% (down from 25% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 6% per year.お知らせ • May 06Italgas to Merge 3 Greek Companies Owned by Depa InfrastructureItalgas S.p.A. (BIT:IG) plans to merge 3 Greek companies owned by Depa Infrastructure in one to increase efficiency. Italgas CEO: asked about Warchest for M&A, says group cannot spend now as much as it did for Depa Infrastructure.Reported Earnings • Mar 14Full year 2022 earnings releasedFull year 2022 results: Revenue: €1.56b (down 27% from FY 2021). Net income: €407.3m (up 12% from FY 2021). Profit margin: 26% (up from 17% in FY 2021). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to remain flat.お知らせ • Jan 20+ 2 more updatesItalgas S.p.A. to Report Q1, 2023 Results on May 04, 2023Italgas S.p.A. announced that they will report Q1, 2023 results on May 04, 2023Reported Earnings • Nov 23Third quarter 2022 earnings releasedThird quarter 2022 results: EPS: €0.12. Revenue: €328.1m (down 3.6% from 3Q 2021). Net income: €100.2m (up 2.8% from 3Q 2021). Profit margin: 31% (up from 29% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 2.5% decline forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 1% per year.Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Chairwoman Benedetta Navarra was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Reported Earnings • Oct 30Third quarter 2022 earnings releasedThird quarter 2022 results: EPS: €0.12. Revenue: €379.8m (up 12% from 3Q 2021). Net income: €100.3m (up 2.9% from 3Q 2021). Profit margin: 26% (down from 29% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 3% per year.Buying Opportunity • Aug 26Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 11%. The fair value is estimated to be €6.75, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.7% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 7.1% per annum. Earnings is also forecast to grow by 9.6% per annum over the same time period.Reported Earnings • Jul 26Second quarter 2022 earnings: Revenues in line with analyst expectationsSecond quarter 2022 results: Revenue: €353.4m (down 50% from 2Q 2021). Net income: €99.4m (up 11% from 2Q 2021). Profit margin: 28% (up from 13% in 2Q 2021). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the next year, revenue is expected to shrink by 31% compared to a 12% decline forecast for the industry in Italy.Buying Opportunity • Jul 14Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 15%. The fair value is estimated to be €6.60, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10.0% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 6.3% per annum. Earnings is also forecast to grow by 8.0% per annum over the same time period.Buying Opportunity • Jun 22Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 7.8%. The fair value is estimated to be €6.60, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10.0% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 6.0% per annum. Earnings is also forecast to grow by 8.0% per annum over the same time period.Upcoming Dividend • May 16Upcoming dividend of €0.29 per shareEligible shareholders must have bought the stock before 23 May 2022. Payment date: 25 May 2022. Payout ratio is a comfortable 64% but the company is paying out more than the cash it is generating. Trailing yield: 4.7%. Within top quartile of Italian dividend payers (4.7%). In line with average of industry peers (5.2%).Reported Earnings • May 04First quarter 2022 earnings: EPS in line with analyst expectations despite revenue beatFirst quarter 2022 results: EPS: €0.11. Revenue: €354.0m (up 6.2% from 1Q 2021). Net income: €88.9m (up 9.5% from 1Q 2021). Profit margin: 25% (in line with 1Q 2021). Revenue exceeded analyst estimates by 3.5%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is expected to shrink by 33% compared to a 6.3% decline forecast for the industry in Italy. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 4% per year.Board Change • Apr 27Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 11 experienced directors. No highly experienced directors. Non-Executive Director Qinjing Shen was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Reported Earnings • Mar 12Full year 2021 earnings: Revenues in line with analyst expectationsFull year 2021 results: Revenue: €1.37b (down 35% from FY 2020). Net income: €362.8m (down 5.3% from FY 2020). Profit margin: 27% (up from 18% in FY 2020). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 9.9% compared to a 5.8% decline forecast for the industry in Italy.Reported Earnings • Oct 29Third quarter 2021 earnings released: EPS €0.12The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: €340.3m (up 2.7% from 3Q 2020). Net income: €97.5m (up 4.7% from 3Q 2020). Profit margin: 29% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 6% per year.Reported Earnings • Jul 31Second quarter 2021 earnings releasedThe company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: €332.1m (down 49% from 2Q 2020). Net income: €94.9m (up 21% from 2Q 2020). Profit margin: 29% (up from 12% in 2Q 2020). The increase in margin was driven by lower expenses.株主還元IGIT Gas UtilitiesIT 市場7D3.4%4.0%2.8%1Y43.8%22.8%20.1%株主還元を見る業界別リターン: IG過去 1 年間で22.8 % の収益を上げたItalian Gas Utilities業界を上回りました。リターン対市場: IG過去 1 年間で20.1 % の収益を上げたItalian市場を上回りました。価格変動Is IG's price volatile compared to industry and market?IG volatilityIG Average Weekly Movement3.4%Gas Utilities Industry Average Movement3.5%Market Average Movement5.2%10% most volatile stocks in IT Market8.5%10% least volatile stocks in IT Market3.2%安定した株価: IG 、 Italian市場と比較して、過去 3 か月間で大きな価格変動はありませんでした。時間の経過による変動: IGの 週次ボラティリティ ( 3% ) は過去 1 年間安定しています。会社概要設立従業員CEO（最高経営責任者ウェブサイト18376,289Paolo Gallowww.italgas.itイタリアガス社（Italgas S.p.A.）は、その子会社とともに、イタリア、ギリシャ、その他欧州連合諸国において天然ガスの配給事業を行っている。ガス配給、水道サービス、エネルギー効率化部門を通じて事業を展開している。同社は一般家庭や企業などへのガス輸送に携わっている。また、メータリング活動や、市民用水、排水管、廃水浄化用の水の収集、供給、配給も行っている。同社は、82,034kmの配給ネットワークと6300kmの配水ネットワークを運営している。Italgas S.p.A.は1837年に設立され、イタリアのミラノに本社を置いている。もっと見るItalgas S.p.A. 基礎のまとめItalgas の収益と売上を時価総額と比較するとどうか。IG 基礎統計学時価総額€10.41b収益（TTM）€682.52m売上高(TTM)€3.72b15.2xPER（株価収益率2.8xP/SレシオIG は割高か？公正価値と評価分析を参照収益と収入最新の決算報告書（TTM）に基づく主な収益性統計IG 損益計算書（TTM）収益€3.72b売上原価€1.07b売上総利益€2.65bその他の費用€1.96b収益€682.52m直近の収益報告Mar 31, 2026次回決算日Jul 27, 2026一株当たり利益（EPS）0.67グロス・マージン71.17%純利益率18.35%有利子負債／自己資本比率260.0%IG の長期的なパフォーマンスは？過去の実績と比較を見る配当金4.2%現在の配当利回り64%配当性向View Valuation企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/26 23:20終値2026/05/26 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Italgas S.p.A. 13 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。28 アナリスト機関Francesco SalaBanca Akros S.p.A. (ESN)Tommaso MarabiniBanca Akros S.p.A. (ESN)Francesco SalaBanca Akros S.p.A. (ESN)25 その他のアナリストを表示
Upcoming Dividend • May 11Upcoming dividend of €0.43 per shareEligible shareholders must have bought the stock before 18 May 2026. Payment date: 20 May 2026. Payout ratio is a comfortable 64% and the cash payout ratio is 82%. Trailing yield: 4.2%. Lower than top quartile of Italian dividend payers (4.6%). Lower than average of industry peers (5.3%).
Reported Earnings • May 06First quarter 2026 earnings released: EPS: €0.18 (vs €0.21 in 1Q 2025)First quarter 2026 results: EPS: €0.18. Revenue: €661.7m (up 1.0% from 1Q 2025). Net income: €178.9m (up 6.0% from 1Q 2025). Profit margin: 27% (up from 26% in 1Q 2025). Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Gas Utilities industry in Europe.
分析記事 • Mar 29We Think You Should Be Aware Of Some Concerning Factors In Italgas' (BIT:IG) EarningsItalgas S.p.A.'s ( BIT:IG ) healthy profit numbers didn't contain any surprises for investors. We believe that...
お知らせ • Mar 24Italgas S.p.A., Annual General Meeting, Apr 21, 2026Italgas S.p.A., Annual General Meeting, Apr 21, 2026, at 11:00 W. Europe Standard Time.
Reported Earnings • Mar 23Full year 2025 earnings released: EPS: €0.71 (vs €0.59 in FY 2024)Full year 2025 results: EPS: €0.71 (up from €0.59 in FY 2024). Revenue: €3.57b (up 43% from FY 2024). Net income: €672.3m (up 40% from FY 2024). Profit margin: 19% (in line with FY 2024). Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth.
Declared Dividend • Mar 06Dividend increased to €0.43Dividend of €0.43 is 6.4% higher than last year. Ex-date: 18th May 2026 Payment date: 20th May 2026 Dividend yield will be 4.1%, which is lower than the industry average of 4.4%. Sustainability & Growth Dividend is covered by earnings (57% earnings payout ratio) but not covered by cash flows (126% cash payout ratio). The dividend has increased by an average of 8.9% per year over the past 9 years and payments have been stable during that time. EPS is expected to grow by 26% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Upcoming Dividend • May 11Upcoming dividend of €0.43 per shareEligible shareholders must have bought the stock before 18 May 2026. Payment date: 20 May 2026. Payout ratio is a comfortable 64% and the cash payout ratio is 82%. Trailing yield: 4.2%. Lower than top quartile of Italian dividend payers (4.6%). Lower than average of industry peers (5.3%).
Reported Earnings • May 06First quarter 2026 earnings released: EPS: €0.18 (vs €0.21 in 1Q 2025)First quarter 2026 results: EPS: €0.18. Revenue: €661.7m (up 1.0% from 1Q 2025). Net income: €178.9m (up 6.0% from 1Q 2025). Profit margin: 27% (up from 26% in 1Q 2025). Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Gas Utilities industry in Europe.
分析記事 • Mar 29We Think You Should Be Aware Of Some Concerning Factors In Italgas' (BIT:IG) EarningsItalgas S.p.A.'s ( BIT:IG ) healthy profit numbers didn't contain any surprises for investors. We believe that...
お知らせ • Mar 24Italgas S.p.A., Annual General Meeting, Apr 21, 2026Italgas S.p.A., Annual General Meeting, Apr 21, 2026, at 11:00 W. Europe Standard Time.
Reported Earnings • Mar 23Full year 2025 earnings released: EPS: €0.71 (vs €0.59 in FY 2024)Full year 2025 results: EPS: €0.71 (up from €0.59 in FY 2024). Revenue: €3.57b (up 43% from FY 2024). Net income: €672.3m (up 40% from FY 2024). Profit margin: 19% (in line with FY 2024). Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth.
Declared Dividend • Mar 06Dividend increased to €0.43Dividend of €0.43 is 6.4% higher than last year. Ex-date: 18th May 2026 Payment date: 20th May 2026 Dividend yield will be 4.1%, which is lower than the industry average of 4.4%. Sustainability & Growth Dividend is covered by earnings (57% earnings payout ratio) but not covered by cash flows (126% cash payout ratio). The dividend has increased by an average of 8.9% per year over the past 9 years and payments have been stable during that time. EPS is expected to grow by 26% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
お知らせ • Mar 05Italgas S.p.A. announces Annual dividend, payable on May 20, 2026Italgas S.p.A. announced Annual dividend of EUR 0.4320 per share payable on May 20, 2026, ex-date on May 18, 2026 and record date on May 19, 2026.
お知らせ • Feb 19Italgas S.p.A. to Report Fiscal Year 2025 Results on Mar 04, 2026Italgas S.p.A. announced that they will report fiscal year 2025 results Pre-Market on Mar 04, 2026
お知らせ • Jan 23+ 2 more updatesItalgas S.p.A. to Report Nine Months, 2026 Results on Oct 29, 2026Italgas S.p.A. announced that they will report nine months, 2026 results on Oct 29, 2026
Price Target Changed • Nov 03Price target increased by 9.2% to €9.07Up from €8.30, the current price target is an average from 15 analysts. New target price is approximately in line with last closing price of €9.30. Stock is up 65% over the past year. The company is forecast to post earnings per share of €0.68 for next year compared to €0.59 last year.
Reported Earnings • Nov 02Third quarter 2025 earnings releasedThird quarter 2025 results: EPS: €0.17. Revenue: €238.8m (down 45% from 3Q 2024). Net income: €176.8m (up 47% from 3Q 2024). Profit margin: 74% (up from 28% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth.
Price Target Changed • Oct 31Price target increased by 11% to €8.67Up from €7.84, the current price target is an average from 15 analysts. New target price is approximately in line with last closing price of €9.09. Stock is up 61% over the past year. The company is forecast to post earnings per share of €0.68 for next year compared to €0.59 last year.
Price Target Changed • Sep 23Price target increased by 7.8% to €7.79Up from €7.23, the current price target is an average from 14 analysts. New target price is approximately in line with last closing price of €7.69. Stock is up 42% over the past year. The company is forecast to post earnings per share of €0.68 for next year compared to €0.59 last year.
分析記事 • Sep 05Lacklustre Performance Is Driving Italgas S.p.A.'s (BIT:IG) Low P/EWhen close to half the companies in Italy have price-to-earnings ratios (or "P/E's") above 18x, you may consider...
分析記事 • Aug 09Italgas' (BIT:IG) Earnings Are Of Questionable QualityBIT:IG 1 Year Share Price vs Fair Value Explore Italgas's Fair Values from the Community and select yours Italgas...
Reported Earnings • Jul 27Second quarter 2025 earnings releasedSecond quarter 2025 results: Revenue: €471.5m (down 37% from 2Q 2024). Net income: €147.8m (up 27% from 2Q 2024). Profit margin: 31% (up from 16% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Gas Utilities industry in Europe.
分析記事 • Jul 26A Look At The Intrinsic Value Of Italgas S.p.A. (BIT:IG)Key Insights Italgas' estimated fair value is €6.47 based on 2 Stage Free Cash Flow to Equity With €7.23 share price...
New Risk • Jul 07New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 25% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Minor Risks Dividend is not well covered by cash flows (122% cash payout ratio). Shareholders have been diluted in the past year (25% increase in shares outstanding).
お知らせ • May 29Italgas S.p.A. has filed a Follow-on Equity Offering in the amount of €1.019969 billion.Italgas S.p.A. has filed a Follow-on Equity Offering in the amount of €1.019969 billion. Security Name: Shares Security Type: Common Stock Securities Offered: 202,938,478 Price\Range: €5.026 Transaction Features: Rights Offering
Price Target Changed • May 12Price target increased by 7.3% to €7.04Up from €6.56, the current price target is an average from 11 analysts. New target price is approximately in line with last closing price of €7.11. Stock is up 32% over the past year. The company is forecast to post earnings per share of €0.73 for next year compared to €0.59 last year.
Upcoming Dividend • May 12Upcoming dividend of €0.41 per shareEligible shareholders must have bought the stock before 19 May 2025. Payment date: 21 May 2025. Payout ratio is a comfortable 62% and the cash payout ratio is 98%. Trailing yield: 5.6%. Within top quartile of Italian dividend payers (5.5%). In line with average of industry peers (6.0%).
Reported Earnings • May 09First quarter 2025 earnings releasedFirst quarter 2025 results: EPS: €0.21. Revenue: €513.7m (up 19% from 1Q 2024). Net income: €168.7m (up 44% from 1Q 2024). Profit margin: 33% (up from 27% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 5% per year.
Major Estimate Revision • May 08Consensus revenue estimates increase by 13%The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from €2.18b to €2.46b. EPS estimate unchanged from €0.66 at last update. Gas Utilities industry in Italy expected to see average net income growth of 1.7% next year. Consensus price target up from €6.56 to €6.99. Share price was steady at €7.29 over the past week.
Buy Or Sell Opportunity • Apr 09Now 21% undervaluedOver the last 90 days, the stock has risen 18% to €6.44. The fair value is estimated to be €8.18, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.2% over the last 3 years. Earnings per share has grown by 8.9%. For the next 3 years, revenue is forecast to grow by 6.3% per annum. Earnings are also forecast to grow by 11% per annum over the same time period.
Reported Earnings • Mar 14Full year 2024 earnings: EPS in line with expectations, revenues disappointFull year 2024 results: EPS: €0.59 (up from €0.54 in FY 2023). Revenue: €2.50b (down 4.2% from FY 2023). Net income: €478.9m (up 8.9% from FY 2023). Profit margin: 19% (up from 17% in FY 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth.
お知らせ • Mar 12Italgas S.p.A., Annual General Meeting, May 13, 2025Italgas S.p.A., Annual General Meeting, May 13, 2025, at 14:00 W. Europe Standard Time.
Declared Dividend • Feb 14Dividend increased to €0.41Dividend of €0.41 is 15% higher than last year. Ex-date: 19th May 2025 Payment date: 21st May 2025 Dividend yield will be 6.8%, which is higher than the industry average of 4.4%. Sustainability & Growth Dividend is covered by earnings (62% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 7.3% per year over the past 8 years and payments have been stable during that time. EPS is expected to grow by 21% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
お知らせ • Jan 22+ 3 more updatesItalgas S.p.A. to Report First Half, 2025 Results on Jul 24, 2025Italgas S.p.A. announced that they will report first half, 2025 results on Jul 24, 2025
Reported Earnings • Oct 25Third quarter 2024 earnings releasedThird quarter 2024 results: EPS: €0.15. Revenue: €437.0m (flat on 3Q 2023). Net income: €120.2m (up 16% from 3Q 2023). Profit margin: 28% (up from 24% in 3Q 2023). Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.
Reported Earnings • Jul 25Second quarter 2024 earnings releasedSecond quarter 2024 results: Revenue: €431.1m (down 46% from 2Q 2023). Net income: €116.8m (up 6.5% from 2Q 2023). Profit margin: 27% (up from 14% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is expected to decline by 2.2% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to grow by 1.2%.
お知らせ • Jul 13Italgas S.p.A. to Report First Half, 2024 Results on Jul 24, 2024Italgas S.p.A. announced that they will report first half, 2024 results on Jul 24, 2024
お知らせ • May 16Italgas Begins Exclusive Talks to Buy 2i Rete GasItalgas S.p.A. (BIT:IG), Europe's biggest gas distributor, said on May 13, 2024 that it started exclusive talks to acquire smaller rival 2i Rete Gas SpA. A merger between the two would be a major step in the consolidation of the gas distribution market in Italy with 2i Rete gas adding a 20% market share to Italgas' 35%, according to analyst calculations. 2i Rete Gas, which is Italy's second-largest distributor for the fuel, said in February it wanted to list on the Milan bourse, but in March media speculation emerged about an approach by Italgas valuing the rival at EUR 4 billion to EUR 5 billion ($4.3 billion to $5.4 billion). Sources told Reuters on May 13, 2024 that Italgas had nudged up a preliminary offer, winning the green light from the rival's shareholders for several weeks of exclusive talks. Italian infrastructure fund F2i has a 64% stake in 2i Rete Gas. Dutch pension fund APG and buyout group Ardian together hold the remaining 36.1% under the vehicle Finavias. "Without interrupting the listing process, F2i and Finavias have granted Italgas a period of exclusivity in order to complete a due diligence preparatory to a possible binding purchase offer," investors in 2i Rete Gas said in a separate statement. Should the acquisition go through, Italgas will finance the acquisition via a bridge credit facility underwritten by JP Morgan, which could be refinanced through a combination of equity, debt or equity like instruments, the suitor said. JP Morgan is acting as financial adviser and Legance is acting as legal adviser to Italgas. Rothschild is advising Ardian and APG, while Lazard is assisting F2i.
Reported Earnings • May 15First quarter 2024 earnings releasedFirst quarter 2024 results: EPS: €0.14. Revenue: €431.3m (down 10% from 1Q 2023). Net income: €117.6m (up 14% from 1Q 2023). Profit margin: 27% (up from 22% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is expected to decline by 2.2% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to grow by 1.4%. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.
Upcoming Dividend • May 13Upcoming dividend of €0.35 per shareEligible shareholders must have bought the stock before 20 May 2024. Payment date: 22 May 2024. Payout ratio is a comfortable 65% but the company is not cash flow positive. Trailing yield: 6.6%. Within top quartile of Italian dividend payers (5.4%). In line with average of industry peers (6.4%).
Declared Dividend • Mar 17Dividend increased to €0.35Dividend of €0.35 is 11% higher than last year. Ex-date: 20th May 2024 Payment date: 22nd May 2024 Dividend yield will be 6.6%, which is higher than the industry average of 4.4%. Sustainability & Growth Dividend is covered by earnings (59% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 8.4% per year over the past 7 years and payments have been stable during that time. EPS is expected to grow by 5.3% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Mar 14Full year 2023 earnings releasedFull year 2023 results: Revenue: €1.82b (down 19% from FY 2022). Net income: €439.6m (up 7.9% from FY 2022). Profit margin: 24% (up from 18% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 1.7% growth forecast for the Gas Utilities industry in Europe.
お知らせ • Jan 30+ 2 more updatesItalgas S.p.A. to Report Nine Months, 2024 Results on Oct 24, 2024Italgas S.p.A. announced that they will report nine months, 2024 results on Oct 24, 2024
Reported Earnings • Oct 27Third quarter 2023 earnings releasedThird quarter 2023 results: EPS: €0.13. Revenue: €438.0m (up 34% from 3Q 2022). Net income: €103.5m (up 3.3% from 3Q 2022). Profit margin: 24% (down from 31% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is expected to fall by 4.3% p.a. on average during the next 3 years compared to a 1.7% decline forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.
お知らせ • Oct 18Italgas S.p.A. (BIT:IG) completed the acquisition of Acqua S.r.l., Idrolatina S.r.l., and Acqua Campania S.p.A from Veolia Environnement SA (ENXTPA:VIE).Italgas S.p.A. (BIT:IG) signed a purchase agreement to acquire Acqua S.r.l., Idrolatina S.r.l., and Acqua Campania S.p.A from Veolia Environnement SA (ENXTPA:VIE) for approximately €115 million on June 9, 2023. The consideration which includes partially depending upon certain targets of the operational companies. Through this transaction Italgas will acquire 100% of Acqua S.r.l., which in turn directly holds 98.7% of Idrosicilia S.p.A. and, indirectly, 75% of the equity of Siciliacque S.p.A, 100% of Idrolatina S.r.l., which in turn holds about 49% of Acqualatina S.p.A and 47.9% of Acqua Campania S.p.A from Veolia. The closing of the transaction is subject to the fulfillment of certain conditions precedent, including the involvement or approval by the Public Bodies which awarded the water service concession. Italgas S.p.A. (BIT:IG) completed the acquisition of Acqua S.r.l., Idrolatina S.r.l., and Acqua Campania S.p.A from Veolia Environnement SA (ENXTPA:VIE) on October 16, 2023. Nepta is the new name of the Italgas that will manage all the Group's water activities. The transaction has approved by the Granting Authorities.
Reported Earnings • Jul 26Second quarter 2023 earnings releasedSecond quarter 2023 results: Revenue: €451.9m (down 35% from 2Q 2022). Net income: €109.6m (up 10% from 2Q 2022). Profit margin: 24% (up from 14% in 2Q 2022). The increase in margin was driven by lower expenses. Revenue is expected to fall by 3.5% p.a. on average during the next 3 years compared to a 2.7% decline forecast for the Gas Utilities industry in Europe.
お知らせ • Jun 10Italgas S.p.A. (BIT:IG) signed a purchase agreement to acquire Acqua S.r.l., Idrolatina S.r.l., and Acqua Campania S.p.A from Veolia Environnement SA (ENXTPA:VIE) for approximately €115 million.Italgas S.p.A. (BIT:IG) signed a purchase agreement to acquire Acqua S.r.l., Idrolatina S.r.l., and Acqua Campania S.p.A from Veolia Environnement SA (ENXTPA:VIE) for approximately €115 million on June 9, 2023. The consideration which includes partially depending upon certain targets of the operational companies. Through this transaction Italgas will acquire 100% of Acqua S.r.l., which in turn directly holds 98.7% of Idrosicilia S.p.A. and, indirectly, 75% of the equity of Siciliacque S.p.A, 100% of Idrolatina S.r.l., which in turn holds about 49% of Acqualatina S.p.A and 47.9% of Acqua Campania S.p.A from Veolia. The closing of the transaction is subject to the fulfillment of certain conditions precedent, including the involvement or approval by the Public Bodies which awarded the water service concession.
Upcoming Dividend • May 15Upcoming dividend of €0.32 per share at 5.3% yieldEligible shareholders must have bought the stock before 22 May 2023. Payment date: 24 May 2023. Payout ratio is a comfortable 61% but the company is paying out more than the cash it is generating. Trailing yield: 5.3%. Within top quartile of Italian dividend payers (5.3%). Higher than average of industry peers (4.4%).
Reported Earnings • May 07First quarter 2023 earnings releasedFirst quarter 2023 results: EPS: €0.13. Revenue: €479.9m (up 36% from 1Q 2022). Net income: €103.6m (up 17% from 1Q 2022). Profit margin: 22% (down from 25% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has increased by 6% per year.
お知らせ • May 06Italgas to Merge 3 Greek Companies Owned by Depa InfrastructureItalgas S.p.A. (BIT:IG) plans to merge 3 Greek companies owned by Depa Infrastructure in one to increase efficiency. Italgas CEO: asked about Warchest for M&A, says group cannot spend now as much as it did for Depa Infrastructure.
Reported Earnings • Mar 14Full year 2022 earnings releasedFull year 2022 results: Revenue: €1.56b (down 27% from FY 2021). Net income: €407.3m (up 12% from FY 2021). Profit margin: 26% (up from 17% in FY 2021). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to remain flat.
お知らせ • Jan 20+ 2 more updatesItalgas S.p.A. to Report Q1, 2023 Results on May 04, 2023Italgas S.p.A. announced that they will report Q1, 2023 results on May 04, 2023
Reported Earnings • Nov 23Third quarter 2022 earnings releasedThird quarter 2022 results: EPS: €0.12. Revenue: €328.1m (down 3.6% from 3Q 2021). Net income: €100.2m (up 2.8% from 3Q 2021). Profit margin: 31% (up from 29% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 2.5% decline forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 1% per year.
Board Change • Nov 16Less than half of directors are independentFollowing the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Chairwoman Benedetta Navarra was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Reported Earnings • Oct 30Third quarter 2022 earnings releasedThird quarter 2022 results: EPS: €0.12. Revenue: €379.8m (up 12% from 3Q 2021). Net income: €100.3m (up 2.9% from 3Q 2021). Profit margin: 26% (down from 29% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 3% per year.
Buying Opportunity • Aug 26Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 11%. The fair value is estimated to be €6.75, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.7% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 7.1% per annum. Earnings is also forecast to grow by 9.6% per annum over the same time period.
Reported Earnings • Jul 26Second quarter 2022 earnings: Revenues in line with analyst expectationsSecond quarter 2022 results: Revenue: €353.4m (down 50% from 2Q 2021). Net income: €99.4m (up 11% from 2Q 2021). Profit margin: 28% (up from 13% in 2Q 2021). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the next year, revenue is expected to shrink by 31% compared to a 12% decline forecast for the industry in Italy.
Buying Opportunity • Jul 14Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 15%. The fair value is estimated to be €6.60, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10.0% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 6.3% per annum. Earnings is also forecast to grow by 8.0% per annum over the same time period.
Buying Opportunity • Jun 22Now 22% undervalued after recent price dropOver the last 90 days, the stock is down 7.8%. The fair value is estimated to be €6.60, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10.0% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 6.0% per annum. Earnings is also forecast to grow by 8.0% per annum over the same time period.
Upcoming Dividend • May 16Upcoming dividend of €0.29 per shareEligible shareholders must have bought the stock before 23 May 2022. Payment date: 25 May 2022. Payout ratio is a comfortable 64% but the company is paying out more than the cash it is generating. Trailing yield: 4.7%. Within top quartile of Italian dividend payers (4.7%). In line with average of industry peers (5.2%).
Reported Earnings • May 04First quarter 2022 earnings: EPS in line with analyst expectations despite revenue beatFirst quarter 2022 results: EPS: €0.11. Revenue: €354.0m (up 6.2% from 1Q 2021). Net income: €88.9m (up 9.5% from 1Q 2021). Profit margin: 25% (in line with 1Q 2021). Revenue exceeded analyst estimates by 3.5%. Earnings per share (EPS) were mostly in line with analyst estimates. Over the next year, revenue is expected to shrink by 33% compared to a 6.3% decline forecast for the industry in Italy. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has increased by 4% per year.
Board Change • Apr 27Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 11 experienced directors. No highly experienced directors. Non-Executive Director Qinjing Shen was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Reported Earnings • Mar 12Full year 2021 earnings: Revenues in line with analyst expectationsFull year 2021 results: Revenue: €1.37b (down 35% from FY 2020). Net income: €362.8m (down 5.3% from FY 2020). Profit margin: 27% (up from 18% in FY 2020). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 9.9% compared to a 5.8% decline forecast for the industry in Italy.
Reported Earnings • Oct 29Third quarter 2021 earnings released: EPS €0.12The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: €340.3m (up 2.7% from 3Q 2020). Net income: €97.5m (up 4.7% from 3Q 2020). Profit margin: 29% (in line with 3Q 2020). Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 6% per year.
Reported Earnings • Jul 31Second quarter 2021 earnings releasedThe company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: €332.1m (down 49% from 2Q 2020). Net income: €94.9m (up 21% from 2Q 2020). Profit margin: 29% (up from 12% in 2Q 2020). The increase in margin was driven by lower expenses.
