Snam SpA
F:SNM0
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Snam SpA
F:SNM0
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IT |
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S
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Snam SpA
DUS:SNM
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IT |
Intrinsic Value
The intrinsic value of 
Snam SpA (SNM0) under the Base Case is 10.14 EUR per share.
Compared with the current market price of 12.1 EUR, the stock appears
Overvalued by 16% .
The intrinsic value is calculated using the DCF method.
Do our valuations actually work? See backtest results .
Cheap or expensive for this stock?
This block shows whether today’s valuation is cheap or expensive compared with the stock’s own history, and what happened after similar valuations in the past.
We compare the gap between the stock’s price and our estimated value over time.
- Undervalued can still be historically expensive. The stock may trade below our estimated value, but usually offer an even bigger discount.
- Overvalued can still be historically cheap. The stock may trade above our estimated value, but usually carry an even higher premium.
Market expectations can differ from our model, which may not fully capture everything affecting the price. That is why some stocks regularly trade above our estimated value and others below it.
The scale and chart show how today’s valuation compares with the past. The cards summarize past returns and waiting times until the stock stopped being cheap or expensive. This can happen because the price changed, our estimated value changed, or both.
Only completed periods are included. These are past results, not forecasts. The usual historical range does not necessarily mean fair value.
Fundamental Analysis
What Snam SpA Does
Snam SpA owns and runs the infrastructure that moves natural gas around Italy and into the country. Its core assets are gas pipelines, storage sites, and liquefied natural gas regasification terminals. It does not mainly sell gas to households; instead, it provides the network that lets gas suppliers, utilities, power plants, and industrial users get gas where it is needed.
- Headquarters
- Italy IT
- Employees
- 4 001
- IPO date
- Dec 6, 2001
Snam has no economic moat
ARERA’s tariff and open-access rules limit Snam’s ability to set prices freely or favor particular users. Shippers buy capacity rather than gas from Snam, so its network does not create strong customer loyalty or make the service more valuable simply because more users rely on it.
Read the full moat analysis
Earnings Waterfall
Snam SpA
The intrinsic value for Snam SpA (SNM0) under the Base Case is 10.14 EUR.
Compared with the current market price of 12.1 EUR, the stock appears Overvalued by 16% .
