Italgas S.p.A.

DB:I10 Stock Report

Market Cap: €8.3b

Italgas Valuation

Is I10 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Below Future Cash Flow Value

  • Significantly Below Future Cash Flow Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of I10 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: I10 (€8.03) is trading above our estimate of future cash flow value (€5.79)

Significantly Below Future Cash Flow Value: I10 is trading above our estimate of future cash flow value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for I10?

Key metric: As I10 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for I10. This is calculated by dividing I10's market cap by their current earnings.
What is I10's PE Ratio?
PE Ratio11.5x
Earnings€723.78m
Market Cap€8.31b

Price to Earnings Ratio vs Peers

How does I10's PE Ratio compare to its peers?

The above table shows the PE ratio for I10 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average38.2x
GAS Petrovietnam Gas
17.5x14.07%₫220.5t
APA APA Group
69.1x18.79%AU$14.3b
MVV1 MVV Energie
45.3xn/a€2.0b
MNV6 Mainova
20.8xn/a€2.9b
I10 Italgas
11.5x7.52%€8.3b

Price-To-Earnings vs Peers: I10 is good value based on its Price-To-Earnings Ratio (11.5x) compared to the peer average (38.2x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does I10's PE Ratio compare vs other companies in the Global Gas Utilities Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
I10 11.5xIndustry Avg. 13.9xNo. of Companies16PE0816243240+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: I10 is good value based on its Price-To-Earnings Ratio (11.5x) compared to the Global Gas Utilities industry average (13.9x).

Price to Earnings Ratio vs Fair Ratio

What is I10's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

I10 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio11.5x
Fair PE Ratio13.7x

Price-To-Earnings vs Fair Ratio: I10 is good value based on its Price-To-Earnings Ratio (11.5x) compared to the estimated Fair Price-To-Earnings Ratio (13.7x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst I10 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€8.03
€10.67
+32.90%
5.45%€11.70€9.80n/a15
Sep ’27€8.75
€10.69
+22.27%
5.49%€11.70€9.80n/a15
Aug ’27€9.07
€10.75
+18.54%
6.01%€11.80€9.80n/a15
Jul ’27€10.10
€10.81
+7.05%
5.91%€11.80€9.80n/a15
Jun ’27€9.97
€10.61
+6.43%
5.96%€11.80€9.80n/a15
May ’27€10.03
€10.48
+4.54%
6.76%€11.80€9.20n/a15
Apr ’27€10.24
€10.54
+2.91%
6.82%€12.00€9.20n/a16
Mar ’27€11.13
€10.24
-7.96%
7.42%€12.00€9.20n/a16
Feb ’27€10.03
€9.81
-2.17%
8.73%€11.00€7.00n/a16
Jan ’27€9.33
€9.67
+3.74%
9.98%€10.60€7.00n/a15
Dec ’26€9.69
€9.67
-0.12%
9.98%€10.60€7.00n/a15
Nov ’26€9.08
€8.82
-2.86%
11.60%€10.50€7.00n/a15
Oct ’26€7.82
€7.80
-0.19%
7.14%€9.00€7.00n/a14
Sep ’26€7.67
€7.59
-1.01%
6.42%€8.50€6.80€8.7513
Aug ’26€7.22
€7.55
+4.64%
6.41%€8.50€6.80€9.0712
Jul ’26€7.20
€7.18
-0.22%
4.93%€8.10€6.85€10.1011
Jun ’26€7.03
€7.12
+1.31%
5.76%€7.90€6.30€9.979
May ’26€7.17
€6.56
-8.55%
6.66%€7.40€6.00€10.0311
Apr ’26€6.58
€6.32
-3.86%
5.35%€7.20€5.90€10.2411
Mar ’26€6.16
€6.28
+1.96%
5.70%€7.20€5.90€11.1311
Feb ’26€5.75
€6.12
+6.36%
6.65%€7.20€5.60€10.0312
Jan ’26€5.38
€6.12
+13.68%
6.65%€7.20€5.60€9.3312
Dec ’25€5.66
€6.12
+8.16%
6.57%€7.20€5.60€9.6912
Nov ’25€5.61
€6.14
+9.42%
6.40%€7.20€5.60€9.0812
Oct ’25€5.41
€5.79
+7.09%
5.83%€6.30€5.10€7.8213
Sep ’25€5.02
€5.81
+15.76%
6.10%€6.40€5.10€7.6713
€10.48
Fair Value
23.4% undervalued intrinsic discount
15
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/09/15 01:56
End of Day Share Price 2026/09/15 00:00
Earnings2026/06/30
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Italgas S.p.A. is covered by 31 analysts. 13 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Tommaso MarabiniBanca Akros S.p.A. (ESN)
Francesco SalaBanca Akros S.p.A. (ESN)
Virginia Sanz de Madrid GrossBanco Santander