Stock SRG SNAM S.P.A.
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Financials Snam S.p.A.

Equities

SRG

IT0003153415

Oil & Gas Transportation Services

Market Closed - Borsa Italiana
Other stock markets
 11:44:59 2024-04-26 am EDT 		5-day change 1st Jan Change
4.309 EUR +0.84% Intraday chart for Snam S.p.A. +0.58% -7.43%
Apr. 11 Stock markets down ahead of ECB decision AN
Apr. 11 Mib at 34,000; oil stocks push on list AN

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 15,468 14,886 17,332 15,173 15,607 14,451 - -
Enterprise Value (EV) 1 27,391 27,778 31,353 27,096 30,877 31,660 32,481 33,217
P/E ratio 14.2 x 14 x 11.8 x 22.5 x - 12.2 x 11.8 x 11.5 x
Yield 5.07% 5.42% 4.94% 6.08% - 6.73% 6.92% 7.14%
Capitalization / Revenue 5.8 x 5.37 x 5.26 x 4.32 x 3.64 x 3.42 x 3.21 x 3.02 x
EV / Revenue 10.3 x 10 x 9.51 x 7.71 x 7.2 x 7.48 x 7.21 x 6.93 x
EV / EBITDA 12.6 x 12.6 x 13.9 x 12.1 x 12.8 x 11.7 x 11.4 x 11 x
EV / FCF 55 x 64.5 x 334 x 9.72 x -17.8 x -24.7 x 151 x 120 x
FCF Yield 1.82% 1.55% 0.3% 10.3% -5.6% -4.05% 0.66% 0.83%
Price to Book 2.47 x 2.33 x 2.41 x 2.05 x - 1.83 x 1.8 x 1.74 x
Nbr of stocks (in thousands) 3,300,800 3,235,375 3,270,216 3,351,746 3,352,756 3,353,613 - -
Reference price 2 4.686 4.601 5.300 4.527 4.655 4.309 4.309 4.309
Announcement Date 3/19/20 3/18/21 3/17/22 3/16/23 3/14/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 2,665 2,770 3,297 3,515 4,288 4,232 4,505 4,790
EBITDA 1 2,169 2,197 2,250 2,237 2,417 2,696 2,859 3,029
EBIT 1 1,417 1,424 1,430 1,364 1,477 1,695 1,778 1,857
Operating Margin 53.17% 51.41% 43.37% 38.81% 34.44% 40.07% 39.47% 38.76%
Earnings before Tax (EBT) 1 1,465 1,471 1,615 1,050 1,534 1,603 1,650 1,683
Net income 1 1,090 1,101 1,496 671 1,135 1,192 1,231 1,270
Net margin 40.9% 39.75% 45.37% 19.09% 26.47% 28.17% 27.32% 26.51%
EPS 2 0.3300 0.3290 0.4480 0.2010 - 0.3544 0.3651 0.3756
Free Cash Flow 1 498 431 94 2,787 -1,730 -1,283 215.3 276.8
FCF margin 18.69% 15.56% 2.85% 79.29% -40.35% -30.31% 4.78% 5.78%
FCF Conversion (EBITDA) 22.96% 19.62% 4.18% 124.59% - - 7.53% 9.14%
FCF Conversion (Net income) 45.69% 39.15% 6.28% 415.35% - - 17.49% 21.79%
Dividend per Share 2 0.2376 0.2495 0.2620 0.2751 - 0.2899 0.2981 0.3074
Announcement Date 3/19/20 3/18/21 3/17/22 3/16/23 3/14/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2021 S1 2021 Q3 2021 Q4 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 S1 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 1,346 1,527 807 963 838 842 1,680 868 967 979 1,115 2,094 1,051 1,143 1,136 1,235 1,235 1,070 -
EBITDA 1,107 1,163 553 534 588 567 1,155 551 531 597 624 1,221 641 555 - - - - -
EBIT 1 733 762 353 315 376 352 728 337 299 372 394 766 405 306 393 472.5 472.5 340.1 -
Operating Margin 54.46% 49.9% 43.74% 32.71% 44.87% 41.81% 43.33% 38.82% 30.92% 38% 35.34% 36.58% 38.53% 26.77% 34.6% 38.25% 38.25% 31.78% -
Earnings before Tax (EBT) 767 847 398 370 409 479 888 372 -210 407 - - 455 - - - - - -
Net income 1 572 878 339 279 312 374 686 286 -301 304 394 698 349 88 323.3 343.8 336.6 177.3 -
Net margin 42.5% 57.5% 42.01% 28.97% 37.23% 44.42% 40.83% 32.95% -31.13% 31.05% 35.34% 33.33% 33.21% 7.7% 28.46% 27.83% 27.25% 16.57% -
EPS 2 - - - 0.0900 0.0950 0.1100 - 0.0800 -0.0840 - - - - - 0.0962 0.1023 0.1002 0.0528 -
Dividend per Share 2 - 0.1000 - 0.1572 - 0.1048 - - 0.1651 - - 0.1100 - - 0.0726 0.0726 0.0726 0.0726 0.0748
Announcement Date 7/30/20 7/29/21 11/4/21 3/17/22 5/12/22 7/27/22 7/27/22 11/10/22 3/16/23 5/11/23 7/27/23 7/27/23 11/9/23 3/14/24 - - - - -
1EUR in Million2EUR
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 11,923 12,892 14,021 11,923 15,270 17,209 18,030 18,766
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 5.497 x 5.868 x 6.232 x 5.33 x 6.318 x 6.383 x 6.307 x 6.194 x
Free Cash Flow 1 498 431 94 2,787 -1,730 -1,283 215 277
ROE (net income / shareholders' equity) 17.9% 17.3% 17.8% 15.9% 15% 15.2% 15.3% 15.5%
ROA (Net income/ Total Assets) 4.69% 4.43% 4.61% 3.91% 4.94% 3.48% 3.54% 3.57%
Assets 1 23,224 24,871 32,448 17,180 22,983 34,249 34,758 35,594
Book Value Per Share 2 1.890 1.980 2.200 2.210 - 2.350 2.400 2.480
Cash Flow per Share 2 0.4500 0.4800 0.4000 1.220 - 0.5700 0.7400 0.7200
Capex 1 988 1,166 1,244 1,322 1,796 2,879 2,324 2,135
Capex / Sales 37.07% 42.09% 37.73% 37.61% 41.88% 68.05% 51.59% 44.56%
Announcement Date 3/19/20 3/18/21 3/17/22 3/16/23 3/14/24 - - -
1EUR in Million2EUR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Snam S.p.A.

Trading Rating
Investor Rating
ESG Refinitiv
A
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
19
Last Close Price
4.309 EUR
Average target price
5.074 EUR
Spread / Average Target
+17.75%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Natural Gas Pipeline

1st Jan change Capi.
SNAM S.P.A. Stock Snam S.p.A.
-7.43% 15.43B
ENERGY TRANSFER LP Stock Energy Transfer LP
+15.65% 53.75B
DT MIDSTREAM, INC. Stock DT Midstream, Inc.
+16.86% 6.22B
EQUITRANS MIDSTREAM CORPORATION Stock Equitrans Midstream Corporation
+34.97% 5.96B
CENTURI HOLDINGS, INC. Stock Centuri Holdings, Inc.
0.00% 2.22B
NEXTDECADE CORPORATION Stock NextDecade Corporation
+34.17% 1.65B
OQ GAS NETWORKS SAOC Stock OQ Gas Networks SAOC
-5.23% 1.63B
SHAANXI PROVINCIAL NATURAL GAS CO.,LTD Stock Shaanxi Provincial Natural Gas Co.,Ltd
-1.23% 1.11B
S.N.T.G.N. TRANSGAZ S.A. Stock S.N.T.G.N. Transgaz S.A.
-0.11% 761M
TRANSPORTADORA DE GAS DEL NORTE S.A. Stock TRANSPORTADORA DE GAS DEL NORTE S.A.
-.--% 328M
Natural Gas Pipeline
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