Gas Plus (BIT:GSP) - Share price, News & Analysis

GSP fundamental analysis
Snowflake Score
Valuation	1/6
Future Growth	2/6
Past Performance	2/6
Financial Health	0/6
Dividends	2/6

GSP Stock Overview

Gas Plus S.p.A. engages in the exploration and production of natural gas in Italy.

Rewards

Revenue is forecast to grow 20.02% per year

Became profitable this year

Risk Analysis

Debt is not well covered by operating cash flow

Highly volatile share price over the past 3 months

Large one-off items impacting financial results

Gas Plus Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Gas Plus
Historical stock prices
Current Share Price	€3.54
52 Week High	€6.50
52 Week Low	€1.81
Beta	0.15
1 Month Change	0%
3 Month Change	-17.29%
1 Year Change	84.86%
3 Year Change	62.39%
5 Year Change	23.35%
Change since IPO	-61.40%

Recent News & Updates

Nov 29

These 4 Measures Indicate That Gas Plus (BIT:GSP) Is Using Debt In A Risky Way

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...

Oct 11

Gas Plus' (BIT:GSP) Returns On Capital Tell Us There Is Reason To Feel Uneasy

When it comes to investing, there are some useful financial metrics that can warn us when a business is potentially in...

Shareholder Returns

	GSP	IT Oil and Gas	IT Market
7D	-5.3%	-0.4%	-1.4%
1Y	84.9%	15.6%	-5.9%

Return vs Industry: GSP exceeded the Italian Oil and Gas industry which returned 17.2% over the past year.

Return vs Market: GSP exceeded the Italian Market which returned -5% over the past year.

Price Volatility

Is GSP's price volatile compared to industry and market?
GSP volatility
GSP Average Weekly Movement	13.7%
Oil and Gas Industry Average Movement	8.4%
Market Average Movement	6.1%
10% most volatile stocks in IT Market	8.5%
10% least volatile stocks in IT Market	3.8%

Stable Share Price: GSP is more volatile than 90% of Italian stocks over the past 3 months, typically moving +/- 14% a week.

Volatility Over Time: GSP's weekly volatility (14%) has been stable over the past year, but is still higher than 75% of Italian stocks.

About the Company

Founded	Employees	CEO	Website
1960	146	Davide Usberti	https://www.gasplus.it

Gas Plus S.p.A. engages in the exploration and production of natural gas in Italy. The company is also involved in the distribution, transport, and storage of natural gas; and sells methane gas, and oil and condensates. As of December 31, 2020, its 2P hydrocarbon reserves consisted of 3.765,8 million cubic meters of gas equivalent.

Gas Plus Fundamentals Summary

How do Gas Plus's earnings and revenue compare to its market cap?
GSP fundamental statistics
Market Cap	€154.25m
Earnings (TTM)	€3.15m
Revenue (TTM)	€84.14m

49.0x

P/E Ratio

1.8x

P/S Ratio

Is GSP overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
GSP income statement (TTM)
Revenue	€84.14m
Cost of Revenue	€57.92m
Gross Profit	€26.22m
Other Expenses	€23.08m
Earnings	€3.15m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

Sep 07, 2022

Earnings per share (EPS)	0.072
Gross Margin	31.16%
Net Profit Margin	3.74%
Debt/Equity Ratio	70.6%

How did GSP perform over the long term?

See historical performance and comparison

Dividends

1.4%

Current Dividend Yield

69%

Payout Ratio

Does GSP pay a reliable dividends?

See GSP dividend history and benchmarks

When do you need to buy GSP by to receive an upcoming dividend?
Gas Plus dividend dates
Ex Dividend Date	Jul 18 2022
Dividend Pay Date	Jul 20 2022
Days until Ex dividend	53 days
Days until Dividend pay date	55 days

Does GSP pay a reliable dividends?

See GSP dividend history and benchmarks

Valuation

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

Valuation Score

1/6

Valuation Score 1/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

49.03x

Price to Earnings (PE) ratio

Share Price vs. Fair Value

Below Fair Value: GSP (€3.54) is trading above our estimate of fair value (€1.48)

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

Price To Earnings Ratio

PE vs Industry: GSP is poor value based on its Price-To-Earnings Ratio (49x) compared to the European Oil and Gas industry average (9.4x).

PE vs Market: GSP is poor value based on its Price-To-Earnings Ratio (49x) compared to the Italian market (17.7x).

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate GSP's PEG Ratio to determine if it is good value.

Price to Book Ratio

PB vs Industry: GSP is good value based on its Price-To-Book Ratio (0.9x) compared to the XE Oil and Gas industry average (1x).

Future Growth

How is Gas Plus forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

2/6

Future Growth Score 2/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

20.0%

Forecasted annual revenue growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if GSP's forecast earnings growth is above the savings rate (1.7%).

Earnings vs Market: Insufficient data to determine if GSP's earnings are forecast to grow faster than the Italian market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: GSP's revenue (20% per year) is forecast to grow faster than the Italian market (-0.03% per year).

High Growth Revenue: GSP's revenue (20% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: GSP's Return on Equity is forecast to be low in 3 years time (6.6%).

Past Performance

How has Gas Plus performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-54.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: GSP has a large one-off gain of €13.2M impacting its December 31 2021 financial results.

Growing Profit Margin: GSP became profitable in the past.

Past Earnings Growth Analysis

Earnings Trend: GSP has become profitable over the past 5 years, growing earnings by -54.6% per year.

Accelerating Growth: GSP has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: GSP has become profitable in the last year, making it difficult to compare its past year earnings growth to the Oil and Gas industry (63.8%).

Return on Equity

High ROE: GSP's Return on Equity (1.8%) is considered low.

Financial Health

How is Gas Plus's financial position?

Financial Health Score

0/6

Financial Health Score 0/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: GSP's short term assets (€75.7M) do not cover its short term liabilities (€101.9M).

Long Term Liabilities: GSP's short term assets (€75.7M) do not cover its long term liabilities (€234.8M).

Debt to Equity History and Analysis

Debt Level: GSP's net debt to equity ratio (58.2%) is considered high.

Reducing Debt: GSP's debt to equity ratio has increased from 33.2% to 70.6% over the past 5 years.

Debt Coverage: GSP's debt is not well covered by operating cash flow (17.4%).

Interest Coverage: Insufficient data to determine if GSP's interest payments on its debt are well covered by EBIT.

Balance Sheet

Dividend

What is Gas Plus's current dividend yield, its reliability and sustainability?

Dividend Score

1/6

Dividend Score 1/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

1.41%

Current Dividend Yield

Upcoming Dividend Payment

Dividend Yield vs Market

Notable Dividend: GSP's dividend (1.41%) isn’t notable compared to the bottom 25% of dividend payers in the Italian market (1.61%).

High Dividend: GSP's dividend (1.41%) is low compared to the top 25% of dividend payers in the Italian market (4.78%).

Stability and Growth of Payments

Stable Dividend: GSP has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: GSP has only been paying a dividend for 9 years, and since then payments have fallen.

Earnings Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (69.3%), GSP's dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its reasonable cash payout ratio (73.5%), GSP's dividend payments are covered by cash flows.

Discover strong dividend paying companies

Management

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

1.1yrs

Average board tenure

CEO

Davide Usberti

no data

Tenure

€475,000

Compensation

Mr. Davide Usberti serves as Managing Director and Chief Executive Officer at Gas Plus S.p.A. and served as its Chairman of the Board until 2021 and also serves as its Director.

CEO Compensation Analysis

Compensation vs Market: Insufficient data to establish whether Davide's total compensation is reasonable compared to companies of similar size in the Italian market.

Compensation vs Earnings: Insufficient data to compare Davide's compensation with company performance.

Board Members

Experienced Board: GSP's board of directors are not considered experienced ( 1.1 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.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/05/24 00:00
End of Day Share Price	2022/05/24 00:00
Earnings	2021/12/31
Annual Earnings	2021/12/31