WBAG:SRG

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Executive Summary

Snam S.p.A., together with its subsidiaries, engages in the implementation and integrated management of natural gas infrastructure in Europe.


Snowflake Analysis

Established dividend payer with proven track record.


Similar Companies

Share Price & News

How has Snam's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: SRG has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-2.8%

SRG

-2.8%

AT Gas Utilities

-4.1%

AT Market


1 Year Return

0.04%

SRG

-15.4%

AT Gas Utilities

-23.8%

AT Market

Return vs Industry: SRG exceeded the Austrian Gas Utilities industry which returned -15.4% over the past year.

Return vs Market: SRG exceeded the Austrian Market which returned -23.8% over the past year.


Shareholder returns

SRGIndustryMarket
7 Day-2.8%-2.8%-4.1%
30 Day4.6%-2.6%-3.0%
90 Day12.8%6.2%0.8%
1 Year5.2%0.04%-10.8%-15.4%-23.1%-23.8%
3 Yearn/a4.8%-9.7%-20.3%-26.3%
5 Yearn/a21.8%-9.8%10.9%-3.2%

Price Volatility Vs. Market

How volatile is Snam's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Snam undervalued compared to its fair value and its price relative to the market?

13.63x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: SRG (€4.51) is trading above our estimate of fair value (€3.35)

Significantly Below Fair Value: SRG is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: SRG is good value based on its PE Ratio (13.6x) compared to the XE Gas Utilities industry average (14.3x).

PE vs Market: SRG is poor value based on its PE Ratio (13.6x) compared to the Austrian market (11.1x).


Price to Earnings Growth Ratio

PEG Ratio: SRG is poor value based on its PEG Ratio (4.5x)


Price to Book Ratio

PB vs Industry: SRG is overvalued based on its PB Ratio (2.4x) compared to the XE Gas Utilities industry average (1.4x).


Next Steps

Future Growth

How is Snam forecast to perform in the next 1 to 3 years based on estimates from 14 analysts?

3.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SRG's forecast earnings growth (3% per year) is above the savings rate (0.5%).

Earnings vs Market: SRG's earnings (3% per year) are forecast to grow slower than the Austrian market (21.9% per year).

High Growth Earnings: SRG's earnings are forecast to grow, but not significantly.

Revenue vs Market: SRG's revenue (3.1% per year) is forecast to grow slower than the Austrian market (3.4% per year).

High Growth Revenue: SRG's revenue (3.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SRG's Return on Equity is forecast to be low in 3 years time (17.5%).


Next Steps

Past Performance

How has Snam performed over the past 5 years?

2.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SRG has high quality earnings.

Growing Profit Margin: SRG's current net profit margins (40.8%) are higher than last year (38.1%).


Past Earnings Growth Analysis

Earnings Trend: SRG's earnings have grown by 2.7% per year over the past 5 years.

Accelerating Growth: SRG's earnings growth over the past year (12%) exceeds its 5-year average (2.7% per year).

Earnings vs Industry: SRG earnings growth over the past year (12%) underperformed the Gas Utilities industry 12%.


Return on Equity

High ROE: SRG's Return on Equity (17.2%) is considered low.


Next Steps

Financial Health

How is Snam's financial position?


Financial Position Analysis

Short Term Liabilities: SRG's short term assets (€2.8B) do not cover its short term liabilities (€6.6B).

Long Term Liabilities: SRG's short term assets (€2.8B) do not cover its long term liabilities (€9.7B).


Debt to Equity History and Analysis

Debt Level: SRG's debt to equity ratio (233.7%) is considered high.

Reducing Debt: SRG's debt to equity ratio has increased from 179.2% to 233.7% over the past 5 years.

Debt Coverage: SRG's debt is not well covered by operating cash flow (11.7%).

Interest Coverage: SRG's interest payments on its debt are well covered by EBIT (11.6x coverage).


Balance Sheet


Next Steps

Dividend

What is Snam current dividend yield, its reliability and sustainability?

5.28%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: SRG's dividend (5.28%) is higher than the bottom 25% of dividend payers in the Austrian market (1.67%).

High Dividend: SRG's dividend (5.28%) is in the top 25% of dividend payers in the Austrian market (4.96%)


Stability and Growth of Payments

Stable Dividend: SRG's dividend payments have been volatile in the past 10 years.

Growing Dividend: SRG's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (71.9%), SRG's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: SRG's dividends in 3 years are forecast to be covered by earnings (79.5% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.8yrs

Average management tenure


CEO

Marco Alverà (45 yo)

4.33yrs

Tenure

Mr. Marco Alverà serves as the Chief Executive Officer of Snam S.p.A. He served as Chairman at Snam Rete Gas S.p.A. until November 2017. Mr. Alverà served as Chief Industrial Assets Officer at Snam S.p.A. ...


Leadership Team

NamePositionTenureCompensationOwnership
Marco Alverà
CEO & Director4.33yrsno datano data
Alessandra Pasini
CFO, Chief International & Business Development Officer3.75yrsno datano data
Cosma Panzacchi
Executive Vice President for Digital Transformation & Technology2.58yrsno datano data
Gabriele Giordani
Head of Investor Relationsno datano datano data
Marco Reggiani
General Counsel & Secretary3.75yrsno datano data
Patrizia Rutigliano
Executive Vice President of Government Affairs11.58yrsno datano data
Paola Boromei
Executive Vice President of Human Resources & Organization3.42yrsno datano data
Paolo Mosa
Chief Commercial4.58yrsno datano data
Gaetano Mazzitelli
Executive Vice President of Regulatory Affairs8.67yrsno datano data
Federico Ermoli
Chief International Assets Officer3.75yrsno datano data
Sergio Busato
Chief Global Solutions Officer3.75yrsno datano data
Domenico Negrini
Head of Corporate Social Responsibilityno datano datano data

3.8yrs

Average Tenure

52yo

Average Age

Experienced Management: SRG's management team is considered experienced (3.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Marco Alverà
CEO & Director4.33yrsno datano data
Marco Galletti
Chairman of Gnl Italia and Chief Executive Officer of Gnl Italiano datano datano data
Francesco Gori
Independent Director4.33yrs€70.00kno data
Antonio Paccioretti
Chairman of Stogitno datano datano data
Nicola Bedin
Chairman of the Board0.17yrno datano data
Yunpeng He
Non-Executive Director5.58yrs€37.00kno data
Alessandro Tonetti
Non-Executive Director4.33yrsno datano data
Biagio Cafarelli
Chairman of TEP Energy Solution2yrsno datano data
Stefano Gnocchi
Chairman of Statutory Auditors1.33yrsno datano data
Laura Cavatorta
Independent Director1.33yrsno datano data
Francesca Pace
Independent Director1.33yrsno datano data
Antonio Marano
Independent Director1.33yrsno datano data

1.7yrs

Average Tenure

55yo

Average Age

Experienced Board: SRG's board of directors are not considered experienced ( 1.7 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2%.


Top Shareholders

Company Information

Snam S.p.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Snam S.p.A.
  • Ticker: SRG
  • Exchange: WBAG
  • Founded: 1941
  • Industry: Gas Utilities
  • Sector: Utilities
  • Market Cap: €14.663b
  • Shares outstanding: 3.26b
  • Website: https://www.snam.it

Number of Employees


Location

  • Snam S.p.A.
  • Piazza Santa Barbara, 7
  • San Donato Milanese
  • Milan
  • 20097
  • Italy

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SNMR.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDDec 2001
SRGBIT (Borsa Italiana)YesOrdinary SharesITEURDec 2001
0NQPLSE (London Stock Exchange)YesOrdinary SharesGBEURDec 2001
SNMDB (Deutsche Boerse AG)YesOrdinary SharesDEEURDec 2001
SRGMBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURDec 2001
SRGWBAG (Wiener Boerse AG)YesOrdinary SharesATEURDec 2001
SNMR.YOTCPK (Pink Sheets LLC)UNSPONSORD ADRUSUSDOct 2008

Biography

Snam S.p.A., together with its subsidiaries, engages in the implementation and integrated management of natural gas infrastructure in Europe. It operates through Natural Gas Transportation, Liquefied Natur ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/02 22:05
End of Day Share Price2020/07/31 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.