Snam SpA
XHAM:SNM
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Intrinsic Value
The intrinsic value of 
Snam SpA (SNM) under the Base Case is EUR per share.
Compared with the current market price of 6.216 EUR, the stock appears .
The intrinsic value is calculated using the DCF method.
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What one share is worth in the bear, base and bull cases.
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Do our valuations actually work? See backtest results .
Intrinsic value next to the price over the past 5 years, and what happened after valuations like today’s.
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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
What is the Intrinsic Value of one SNM stock?
The intrinsic value for Snam SpA (SNM) under the Base Case is EUR.
Is SNM stock undervalued or overvalued?
Compared with the current market price of 6.216 EUR, the stock appears .
