Snam S.p.A.

DB:SNM Stock Report

Market Cap: €14.8b

Snam Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair 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 SNM when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: SNM (€4.37) is trading above our estimate of fair value (€1.2)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for SNM. This is calculated by dividing SNM's market cap by their current earnings.
What is SNM's PE Ratio?
PE Ratio14.2x
Earnings€1.04b
Market Cap€14.76b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for SNM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average16.3x
EBK EnBW Energie Baden-Württemberg
28.5xn/a€17.1b
RWE RWE
8.2x-11.1%€23.1b
EOAN E.ON
17.4x8.9%€31.2b
GAIL GAIL (India)
11.2x1.5%₹1.3t
SNM Snam
14.2x4.6%€14.8b

Price-To-Earnings vs Peers: SNM is good value based on its Price-To-Earnings Ratio (14.2x) compared to the peer average (16.3x).

Price to Earnings Ratio vs Industry

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

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
SNM 14.2xIndustry Avg. 14.3xNo. of Companies16PE01020304050+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SNM is good value based on its Price-To-Earnings Ratio (14.2x) compared to the Global Gas Utilities industry average (14.3x).

Price to Earnings Ratio vs Fair Ratio

What is SNM'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.

SNM PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio14.2x
Fair PE Ratio18.5x

Price-To-Earnings vs Fair Ratio: SNM is good value based on its Price-To-Earnings Ratio (14.2x) compared to the estimated Fair Price-To-Earnings Ratio (18.5x).

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 SNM forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€4.37
€5.05
+15.5%
7.4%€5.90€4.20n/a19
Nov ’25€4.42
€5.00
+13.1%
7.2%€5.60€4.20n/a18
Oct ’25€4.58
€4.97
+8.4%
6.9%€5.60€4.20n/a18
Sep ’25€4.47
€4.97
+11.3%
6.8%€5.60€4.20n/a18
Aug ’25€4.33
€4.97
+14.8%
6.8%€5.60€4.20n/a18
Jul ’25€4.10
€4.98
+21.3%
6.9%€5.60€4.20n/a18
Jun ’25€4.24
€5.03
+18.6%
6.9%€5.60€4.20n/a19
May ’25€4.22
€5.07
+20.2%
6.6%€5.60€4.40n/a19
Apr ’25€4.28
€5.07
+18.5%
7.0%€5.60€4.40n/a19
Mar ’25€4.36
€5.10
+17.1%
7.2%€5.70€4.40n/a19
Feb ’25€4.51
€5.11
+13.4%
6.9%€5.70€4.55n/a19
Jan ’25€4.65
€5.08
+9.0%
6.8%€5.80€4.55n/a18
Dec ’24€4.62
€5.07
+9.7%
6.9%€5.80€4.55n/a18
Nov ’24€4.31
€5.22
+21.0%
5.9%€5.80€4.55€4.4217
Oct ’24€4.43
€5.24
+18.2%
6.0%€5.80€4.55€4.5817
Sep ’24€4.78
€5.26
+10.0%
6.1%€5.80€4.55€4.4717
Aug ’24€4.73
€5.26
+11.1%
6.1%€5.80€4.60€4.3317
Jul ’24€4.70
€5.25
+11.8%
6.1%€5.80€4.60€4.1017
Jun ’24€4.82
€5.24
+8.7%
5.8%€5.60€4.60€4.2417
May ’24€4.90
€5.22
+6.7%
5.7%€5.60€4.60€4.2217
Apr ’24€4.81
€5.19
+7.9%
6.3%€5.60€4.55€4.2817
Mar ’24€4.54
€5.18
+14.3%
6.2%€5.50€4.55€4.3616
Feb ’24€4.62
€5.12
+10.9%
6.4%€5.50€4.55€4.5116
Jan ’24€4.51
€5.05
+12.0%
6.8%€5.50€4.25€4.6516
Dec ’23€4.80
€5.00
+4.2%
7.5%€5.50€4.25€4.6217
Nov ’23€4.47
€4.98
+11.3%
8.1%€5.50€4.25€4.3116

Analyst Forecast: Target price is less than 20% higher than the current share price.

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