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

IGM is good value based on its Price-To-Earnings Ratio (9.5x) compared to the peer average (28x).

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

IGM is good value based on its Price-To-Earnings Ratio (9.5x) compared to the Global Gas Utilities industry average (13.8x).

What is IGM'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.

Insufficient data to calculate IGM's Price-To-Earnings Fair Ratio for valuation analysis.

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

IGM (€5.52) is trading below our estimate of [[fair value]] (€8)

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

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

Italgas (BATS-CHIXE:IGM) - Stock Price, News & Analysis

IGM Stock Overview

Engages in the distribution of natural gas in Italy. More details

IGM fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	2/6
Past Performance	4/6
Financial Health	2/6
Dividends	3/6

Rewards

Trading at 31% below our estimate of its fair value

Earnings are forecast to grow 13.37% per year

Earnings have grown 3.6% per year over the past 5 years

Risk Analysis

Debt is not well covered by operating cash flow

Shares are highly illiquid

Dividend of 6.29% is not well covered by free cash flows

Italgas S.p.A. Competitors

Drax Group

LSE:DRX

UK£2.4b

Severn Trent

LSE:SVT

UK£8.2b

United Utilities Group

LSE:UU.

UK£7.6b

Centrica

LSE:CNA

UK£6.2b

Price History & Performance

Summary of all time highs, changes and price drops for Italgas
Historical stock prices
Current Share Price	€5.52
52 Week High	€5.82
52 Week Low	€4.65
Beta	0.58
11 Month Change	-4.83%
3 Month Change	9.74%
1 Year Change	n/a
33 Year Change	-2.13%
5 Year Change	-3.53%
Change since IPO	39.25%

Recent updates

Shareholder Returns

	IGM	GB Gas Utilities	GB Market
7D	0%	0.4%	0.8%
1Y	n/a	-10.3%	6.6%

Return vs Industry: Insufficient data to determine how IGM performed against the UK Gas Utilities industry.

Return vs Market: Insufficient data to determine how IGM performed against the UK Market.

Price Volatility

Is IGM's price volatile compared to industry and market?
IGM volatility
IGM Average Weekly Movement	n/a
Gas Utilities Industry Average Movement	2.4%
Market Average Movement	4.7%
10% most volatile stocks in GB Market	10.3%
10% least volatile stocks in GB Market	2.6%

Stable Share Price: IGM's share price has been volatile over the past 3 months compared to the UK market.

Volatility Over Time: Insufficient data to determine IGM's volatility change over the past year.

About the Company

Founded	Employees	CEO	Website
1837	4,341	Paolo Gallo	www.italgas.it

Italgas S.p.A., together with its subsidiaries, engages in the distribution of natural gas in Italy. It is involved in the transportation of gas to households, enterprises, etc. The company operated a distribution network of 81,309 kilometers. It also engages in metering activities; and distributes and sells water.

Italgas S.p.A. Fundamentals Summary

How do Italgas's earnings and revenue compare to its market cap?
IGM fundamental statistics
Market cap	€4.54b
Earnings (TTM)	€477.47m
Revenue (TTM)	€2.54b

9.5x

P/E Ratio

1.8x

P/S Ratio

Is IGM overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
IGM income statement (TTM)
Revenue	€2.54b
Cost of Revenue	€828.96m
Gross Profit	€1.71b
Other Expenses	€1.24b
Earnings	€477.47m

Last Reported Earnings

Sep 30, 2024

Next Earnings Date

n/a

Earnings per share (EPS)	0.59
Gross Margin	67.39%
Net Profit Margin	18.78%
Debt/Equity Ratio	255.3%

How did IGM perform over the long term?

See historical performance and comparison

Dividends

6.3%

Current Dividend Yield

62%

Payout Ratio

IGM Stock Overview

Rewards

Risk Analysis

Italgas S.p.A. Competitors

LSE:DRX

UK£2.4b

LSE:SVT

UK£8.2b

LSE:UU.

UK£7.6b

LSE:CNA

UK£6.2b

Price History & Performance

Recent News & Updates

Italgas S.p.A. to Report First Half, 2024 Results on Jul 24, 2024

Italgas Begins Exclusive Talks to Buy 2i Rete Gas

Dividend increased to €0.35

Full year 2023 earnings released

High number of new and inexperienced directors

Italgas S.p.A. to Report First Half, 2024 Results on Jul 24, 2024

Recent updates

Italgas S.p.A. to Report First Half, 2024 Results on Jul 24, 2024

Italgas Begins Exclusive Talks to Buy 2i Rete Gas

Dividend increased to €0.35

Full year 2023 earnings released

High number of new and inexperienced directors

Italgas S.p.A. to Report First Half, 2024 Results on Jul 24, 2024

High number of new and inexperienced directors

High number of new and inexperienced directors

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).

Less than half of directors are independent

Second quarter 2023 earnings released: EPS: €0.14 (vs €0.12 in 2Q 2022)

Less than half of directors are independent

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.

Less than half of directors are independent

Upcoming dividend of €0.32 per share at 5.3% yield

First quarter 2023 earnings released

Italgas to Merge 3 Greek Companies Owned by Depa Infrastructure

Less than half of directors are independent

Full year 2022 earnings released: EPS: €0.50 (vs €0.45 in FY 2021)

Less than half of directors are independent

Less than half of directors are independent

Italgas S.p.A., Annual General Meeting, Apr 20, 2023

Italgas S.p.A. to Report Q1, 2023 Results on May 04, 2023

Phaeton S.A. acquired 10% stake in Italgas Newco S.r.l from Italgas S.p.A. (BIT:IG) for €40 million.

Third quarter 2022 earnings released

Less than half of directors are independent

Third quarter 2022 earnings released

Italgas S.p.A. (BIT:IG) acquired 49% stake in Gas Distribution Company Thessaloniki - Thessalia S.A. from Eni Gas e Luce S.p.A.

Italgas S.p.A. (BIT:IG) completed the acquisitions of DEPA Infrastructure SA from Hellenic Petroleum S.A. (ATSE:ELPE) and Hellenic Republic Asset Development Fund S.A.

Less than half of directors are independent

Less than half of directors are independent

Italgas S.p.A. (BIT:IG) entered to an agreement to acquire LPG distribution and sales business from Fiamma 2000 Spa for € 31.7 million.

Second quarter 2022 earnings released

Now 20% undervalued after recent price drop

Less than half of directors are independent

Upcoming dividend of €0.29 per share

Less than half of directors are independent

Full year 2021 earnings: Revenues in line with analyst expectations

Italgas S.p.A. (BIT:IG) acquired an unknown minority stake in Picarro Inc. for $15 million.

High number of new directors

Italgas S.p.A., Annual General Meeting, Apr 26, 2022

High number of new directors

High number of new directors

Third quarter 2021 earnings released: EPS €0.12

High number of new directors

High number of new directors

Italgas Names Preferred Bidder for DEPA

Italgas Reportedly Outbids EP Investment for Depa Infrastructure

High number of new directors

Second quarter 2021 earnings released

High number of new directors

Italgas S.p.A. (BIT:IG) completed the acquisition of Isgastrentatre SPA from Consorzio Fra Cooperative Di Produzione E Lavoro.

Italgas to Bid for Greece's DEPA Alone

Upcoming dividend of €0.28 per share

Full year 2020 earnings released: EPS €0.47 (vs €0.52 in FY 2019)

Full year 2020 earnings released

Revenue beats expectations

New 90-day low: €4.90

Italgas S.p.A. to Report Fiscal Year 2020 Results on Apr 14, 2021