Snam S.p.A.

BIT:SRG Stock Report

Market Cap: €14.4b

Snam Valuation

Is SRG 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 SRG when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: SRG (€4.29) is trading above our estimate of fair value (€0.51)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for SRG. This is calculated by dividing SRG's market cap by their current earnings.
What is SRG's PE Ratio?
PE Ratio13.8x
Earnings€1.04b
Market Cap€14.44b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for SRG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average17.6x
IG Italgas
9.5x13.4%€4.5b
ASC Ascopiave
12.3x-16.5%€592.0m
AC5 Acinque
33.8xn/a€387.8m
TRN Terna
14.8x1.4%€15.6b
SRG Snam
13.8x4.6%€14.4b

Price-To-Earnings vs Peers: SRG is good value based on its Price-To-Earnings Ratio (13.8x) compared to the peer average (17.6x).

Price to Earnings Ratio vs Industry

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

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
SRG 13.8xIndustry Avg. 13.9xNo. of Companies14PE0816243240+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SRG is good value based on its Price-To-Earnings Ratio (13.8x) compared to the Global Gas Utilities industry average (13.9x).

Price to Earnings Ratio vs Fair Ratio

What is SRG'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.

SRG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio13.8x
Fair PE Ratio14x

Price-To-Earnings vs Fair Ratio: SRG is good value based on its Price-To-Earnings Ratio (13.8x) compared to the estimated Fair Price-To-Earnings Ratio (14x).

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 SRG forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€4.29
€5.04
+17.4%
7.6%€5.90€4.20n/a19
Nov ’25€4.44
€5.00
+12.4%
7.2%€5.60€4.20n/a18
Oct ’25€4.62
€4.97
+7.5%
6.9%€5.60€4.20n/a18
Sep ’25€4.48
€4.97
+10.9%
6.8%€5.60€4.20n/a18
Aug ’25€4.36
€4.97
+14.0%
6.8%€5.60€4.20n/a18
Jul ’25€4.18
€4.98
+19.1%
6.9%€5.60€4.20n/a18
Jun ’25€4.35
€5.03
+15.6%
6.9%€5.60€4.20n/a19
May ’25€4.30
€5.07
+17.8%
6.6%€5.60€4.40n/a19
Apr ’25€4.38
€5.07
+15.9%
7.0%€5.60€4.40n/a19
Mar ’25€4.37
€5.10
+16.8%
7.2%€5.70€4.40n/a19
Feb ’25€4.51
€5.11
+13.3%
6.9%€5.70€4.55n/a19
Jan ’25€4.66
€5.08
+9.0%
6.8%€5.80€4.55n/a18
Dec ’24€4.65
€5.07
+9.0%
6.9%€5.80€4.55n/a18
Nov ’24€4.37
€5.22
+19.4%
5.9%€5.80€4.55€4.4417
Oct ’24€4.45
€5.24
+17.7%
6.0%€5.80€4.55€4.6217
Sep ’24€4.77
€5.26
+10.3%
6.1%€5.80€4.55€4.4817
Aug ’24€4.76
€5.26
+10.4%
6.1%€5.80€4.60€4.3617
Jul ’24€4.79
€5.25
+9.7%
6.1%€5.80€4.60€4.1817
Jun ’24€4.92
€5.24
+6.6%
5.8%€5.60€4.60€4.3517
May ’24€5.04
€5.22
+3.6%
5.7%€5.60€4.60€4.3017
Apr ’24€4.89
€5.19
+6.1%
6.3%€5.60€4.55€4.3817
Mar ’24€4.57
€5.18
+13.4%
6.2%€5.50€4.55€4.3716
Feb ’24€4.72
€5.12
+8.6%
6.4%€5.50€4.55€4.5116
Jan ’24€4.53
€5.05
+11.5%
6.8%€5.50€4.25€4.6616
Dec ’23€4.89
€5.00
+2.2%
7.5%€5.50€4.25€4.6517
Nov ’23€4.52
€4.98
+10.2%
8.1%€5.50€4.25€4.3716

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

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