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Snam SpA IT:SRG (ISE)

  • Exchange: ISE
  • Sector: Utilities
  • Industry: Utilities
  • Market Cap: Large (11.86B)
  • EPS: 0.22
  • Current PE: 15.90
  • BVPS: 1.67
  • Price/BVPS: 2.15
  • Dividend: 0.25 / 7.1%
  • Hist Grade: F (9.53)
  • YOY Grade: F (8.79)
  • Debt/FCF: -28.59
  • ROIC: 4.3%
  • Beta: 0.36
  • PEG: 2.04
  • PEGY: 1.06
  • Value Price: 0.38
  • MOS Price: 0.19
  • MOS %: -89.4%
  • Graham Number: 2.88
  • Graham MOS %: -19.9%

Market Price

3.59 

-0.02 -0.4%

as of Jun 19 '13 11:24

52 Week Range:

3.07 3.86

General Info

  • Exchange: ISE
  • Sector: Utilities
  • Industry: Utilities
  • Market Cap: Large (11.86B)
  • Inst. Ownership: NA
  • Full Time Employees: 6023
Snam SpA is an Italian company engaged in the management of natural gas transportation and distribution services in Italy and in Europe. The Company operates though four segments. The Transportation segment covers transportation-related gas, including capacity management and physical distribution of gas. It is a dispatching operator that owns transportation infrastructures, with over 32,000 kilometers of high- and medium pressure gas pipelines. The Regasification segment is focused on extraction activities of natural gas, its liquefaction for transport by ship and subsequent regasification. The Storage segment covers the activities of Stoccaggi Gas Italia SpA, an integrated gas storage operator. The Distribution segment engages gas distribution through local transportation networks, from delivery points at the metering and reduction stations, to the end-customers’gas redelivery points.

Financial Statements

The charts below show selected Annual and Quarterly Financial Data.

The purpose of these charts is to discover long and short term change dynamics. When numbers are growing year after year in the annual statements chart, the business become stronger and stronger and this is a good sign.

Quarterly Data Chart can be used to do a short term analysis. It makes sense to pay attention to the quarterly dynamics and do not wait for the next yearly statement. We should be alerted if we see that quarterly numbers are going down.

You can check "Annual Financial Statements" and "Quarterly Financial Statements" sections for exact numbers and growth rates.

Annual Statements

Item Name Dec '02 Dec '03 Dec '04 Dec '05 Dec '06 Dec '07 Dec '08 Dec '09 Dec '10 Dec '11 Dec '12
Equity (BVPS) 2.29
2.38
2.44
1.67
1.65
1.63
1.66
1.69
1.75
1.71
1.75
growth rate 3.9% 2.5% -31.6% -1.2% -1.2% 1.8% 1.8% 3.6% -2.3% 2.3%
Earnings BIT 802.00
877.00
871.00
743.00
822.00
796.00
1,080.00
1,640.00
1,700.00
1,370.00
growth rate 9.4% -0.7% -14.7% 10.6% -3.2% 35.7% 51.9% 3.7% -19.4%
Avg.PE 10.90
9.30
10.60
13.10
15.80
13.30
14.10
11.30
11.00
16.10
14.90
growth rate -14.7% 14.0% 23.6% 20.6% -15.8% 6.0% -19.9% -2.7% 46.4% -7.5%
ROA 5.60
5.40
5.20
4.30
5.60
4.70
3.90
5.60
3.70
3.40
growth rate -3.6% -3.7% -17.3% 30.2% -16.1% -17.0% 43.6% -33.9% -8.1%
ROE 9.60
9.20
13.20
12.10
16.90
14.80
12.80
18.70
13.60
13.10
growth rate -4.2% 43.5% -8.3% 39.7% -12.4% -13.5% 46.1% -27.3% -3.7%
Balance Sheet Dec '02 Dec '03 Dec '04 Dec '05 Dec '06 Dec '07 Dec '08 Dec '09 Dec '10 Dec '11 Dec '12
Acct.Receivable 417.00
738.00
777.00
1,367.00
2,048.00
growth rate 77.0% 5.3% 75.9% 49.8%
Cur.Assets 635.00
1,143.00
1,174.00
1,823.00
2,480.00
growth rate 80.0% 2.7% 55.3% 36.0%
Total Assets 11,227.00
18,969.00
19,768.00
21,150.00
22,584.00
growth rate 69.0% 4.2% 7.0% 6.8%
Cash 0.00
36.00
8.00
2.00
15.00
growth rate -77.8% -75.0% 650.0%
Inventory 128.00
117.00
147.00
235.00
202.00
growth rate -8.6% 25.6% 59.9% -14.0%
Cur.Liabilities 1,630.00
3,879.00
4,738.00
6,145.00
2,384.00
growth rate 138.0% 22.1% 29.7% -61.2%
Liabilities 7,654.00
13,267.00
13,853.00
15,359.00
16,655.00
growth rate 73.3% 4.4% 10.9% 8.4%
LT Debt 2,850.00
2,450.00
2,390.00
3,770.00
3,860.00
4,500.00
5,200.00
7,486.00
7,186.00
6,800.00
11,939.00
growth rate -14.0% -2.5% 57.7% 2.4% 16.6% 15.6% 44.0% -4.0% -5.4% 75.6%
Equity 5,828.00
3,976.00
3,699.00
3,507.00
3,573.00
5,702.00
5,915.00
5,791.00
5,929.00
growth rate -31.8% -7.0% -5.2% 1.9% 59.6% 3.7% -2.1% 2.4%
Common Shares 2,384.09
2,383.67
2,235.48
2,146.99
2,147.19
3,375.88
3,376.65
3,378.63
3,378.73
growth rate 0.0% -6.2% -4.0% 0.0% 57.2% 0.0% 0.1% 0.0%
Preferred Shares 0.00 0.00 0.00 0.00 0.00
growth rate
Cash Flow Statement Dec '02 Dec '03 Dec '04 Dec '05 Dec '06 Dec '07 Dec '08 Dec '09 Dec '10 Dec '11 Dec '12
Cap.Expenditures 443.00
561.00
660.00
629.00
727.00
1,097.00
1,221.00
1,422.00
1,576.00
1,215.00
growth rate 26.6% 17.7% -4.7% 15.6% 50.9% 11.3% 16.5% 10.8% -22.9%
Cash Dividends 313.00
391.00
2,346.00
328.00
475.00
387.00
450.00
776.00
811.00
811.00
growth rate 24.9% 500.0% -86.0% 44.8% -18.5% 16.3% 72.4% 4.5% 0.0%
Cash From OA 1,146.00
1,187.00
1,032.00
942.00
934.00
1,053.00
1,164.00
1,775.00
1,537.00
820.00
growth rate 3.6% -13.1% -8.7% -0.9% 12.7% 10.5% 52.5% -13.4% -46.7%
FCF 703.00
626.00
372.00
313.00
207.00
-44.00
-57.00
353.00
-39.00
-395.00
growth rate -11.0% -40.6% -15.9% -33.9% -100.0% 0.0% 100.0% -100.0% 0.0%
Income Statement Dec '02 Dec '03 Dec '04 Dec '05 Dec '06 Dec '07 Dec '08 Dec '09 Dec '10 Dec '11 Dec '12
Sales 1,770.00
1,770.00
1,800.00
1,810.00
1,790.00
1,870.00
1,910.00
2,468.00
3,508.00
3,605.00
3,946.00
growth rate 0.0% 1.7% 0.6% -1.1% 4.5% 2.1% 29.2% 42.1% 2.8% 9.5%
Op.Income 1,022.00
1,274.00
1,862.00
1,958.00
2,111.00
growth rate 24.7% 46.2% 5.2% 7.8%
IBT 796.00
1,079.00
1,638.00
1,696.00
1,372.00
growth rate 35.6% 51.8% 3.5% -19.1%
IAT 530.00
732.00
1,106.00
790.00
779.00
growth rate 38.1% 51.1% -28.6% -1.4%
IBEI 530.00
732.00
1,106.00
790.00
779.00
growth rate 38.1% 51.1% -28.6% -1.4%
Net Income 530.00
732.00
1,106.00
790.00
779.00
growth rate 38.1% 51.1% -28.6% -1.4%
EPS 0.18
0.23
0.23
0.22
0.19
0.27
0.25
0.28
0.33
0.23
0.23
growth rate 27.8% 0.0% -4.4% -13.6% 42.1% -7.4% 12.0% 17.9% -30.3% 0.0%
Gross Profit 1,735.00
1,726.00
1,652.00
1,699.00
1,790.00
2,342.00
3,436.00
3,503.00
3,637.00
growth rate -0.5% -4.3% 2.9% 5.4% 30.8% 46.7% 2.0% 3.8%

Quarterly Statements

Item Name Mar '12 Jun '12 Sep '12 Dec '12 Mar '13
Balance Sheet
Acct.Receivable 2,102.00
2,138.00
2,166.00
2,048.00
2,479.00
growth rate 1.7% 1.3% -5.5% 21.0%
Cur.Assets 2,352.00
2,448.00
2,508.00
2,480.00
2,769.00
growth rate 4.1% 2.5% -1.1% 11.7%
Total Assets 21,751.00
22,002.00
22,355.00
22,584.00
22,909.00
growth rate 1.2% 1.6% 1.0% 1.4%
Cash 1.00
16.00
8.00
15.00
3.00
growth rate 1,500.0% -50.0% 87.5% -80.0%
Inventory 215.00
240.00
233.00
202.00
186.00
growth rate 11.6% -2.9% -13.3% -7.9%
Cur.Liabilities 6,496.00
5,324.00
4,050.00
2,384.00
3,561.00
growth rate -18.0% -23.9% -41.1% 49.4%
Liabilities 15,704.00
16,208.00
16,691.00
16,669.00
17,265.00
growth rate 3.2% 3.0% -0.1% 3.6%
LT Debt 6,800.00
8,300.00
10,155.00
11,939.00
11,295.00
growth rate 22.1% 22.4% 17.6% -5.4%
Equity 6,047.00
5,794.00
5,664.00
5,915.00
5,644.00
growth rate -4.2% -2.2% 4.4% -4.6%
Common Shares 3,378.63
3,378.63
3,378.73
3,378.73
3,378.91
growth rate 0.0% 0.0% 0.0% 0.0%
Preferred Shares 0.00 0.00 0.00 0.00 0.00
growth rate
Cash Flow Statement Mar '12 Jun '12 Sep '12 Dec '12 Mar '13
Cap.Expenditures 240.00
253.00
262.00
460.00
189.00
growth rate 5.4% 3.6% 75.6% -58.9%
Cash Dividends 0.00
473.00
0.00
338.00
0.00
growth rate -100.0% -100.0%
Cash From OA 616.00
-2.00
-358.00
564.00
743.00
growth rate -100.0% 0.0% 100.0% 31.7%
FCF 376.00
-255.00
-620.00
104.00
554.00
growth rate -100.0% 0.0% 100.0% 432.7%
Income Statement Mar '12 Jun '12 Sep '12 Dec '12 Mar '13
Sales 969.00
894.00
892.00
1,191.00
957.00
growth rate -7.7% -0.2% 33.5% -19.7%
Op.Income 538.00
475.00
499.00
599.00
531.00
growth rate -11.7% 5.1% 20.0% -11.4%
IBT 466.00
404.00
49.00
453.00
421.00
growth rate -13.3% -87.9% 824.5% -7.1%
IAT 274.00
234.00
5.00
266.00
242.00
growth rate -14.6% -97.9% 5,220.0% -9.0%
IBEI 274.00
234.00
5.00
266.00
242.00
growth rate -14.6% -97.9% 5,220.0% -9.0%
Net Income 274.00
234.00
5.00
266.00
242.00
growth rate -14.6% -97.9% 5,220.0% -9.0%
EPS 0.08
0.07
0.00
0.08
0.07
growth rate -12.5% -100.0% -12.5%
Gross Profit 748.00
715.00
726.00
755.00
791.00
growth rate -4.4% 1.5% 4.0% 4.8%

Growth Grade & Financial Ratios

All financial ratios below are calculated based on latest annual statements available and present the most up to date snapshot of a company finances.

Growth Grade

Historical Growth Grade:

F (9.53)

YOY Growth Grade:

F (8.79)

Click on buttons above for detailed yearly growth rates.

Market Ratios

  • Dividend Yield: 7.1%

  • Beta: 0.36

    Beta of 0.36 suggests that the stock is volatile as the rest of the market (fairly priced).

  • PE: 15.90

  • EP: 6.3%

  • PEG: 2.04

    PEG Ratio of 2.04 suggests that stock is overpriced.

  • PEGY: 1.06

    PEGY Ratio of 1.06 suggests that stock is reasonably priced.

  • Price/BVPS: 2.15

Profitability Ratios

  • ROS: 53.5%

    The value of this ratio depends on the business and/or industry. Usually the higher ratio the better.

  • ROA: 6.1%

    Low ratio usually means poor performance, or ineffective use of assets by management. High ratio usually means good performance.

  • ROI: 23.1%

    ROI of 23.1% suggests that a company is doing well.

  • ROIC: 4.3%

    ROIC of 4.3% suggests that a company may not be able to fund future growth from within.

Liquidity Ratios

  • Current Ratio: 1.04

    Current Ratio of 1.04 suggests that a company may not be able to pay off bills as rapidly as it should.

  • Quick Ratio: 0.87

    Quick Ratio of 0.87 suggests that a company may not be able to pay off bills as rapidly as it should.

  • Cash Turnover: 41.10

    Turnover Of Cash Ratio of 41.10 suggests that a company is vulnerable to creditors. As a result it may be unable to pay wages or utility bills.

  • Debt/Equity: 280.9%

    Debt to Equity Ratio of 280.9% suggests that greater risk assumed by creditors, hence greater interest by them in the way the company is being managed.

  • Debt/FCF: -28.59

    Debt/FCF of -28.59 suggests that a company has a negative Free Cash Flow and probably will not be able to pay off its long term debt.

Efficiency Ratios

  • Avg Collection Period: 189.44

    Average Collection Period of 189.44 days suggests a slow turnover, which may be the result of a number of bad accounts, or a tax collection policy or perhaps credit is being used to generate sales.

  • Inventory Turnover: 1.53

    Inventory Turnover Ratio of 1.53 suggests a large inventory, a never-out-of-stock situation, perhaps some obsolete items, or it could indicate poor liquidity and possible overstocking of items.

  • Profit Margin: 19.7%

Value Price

PE and EPS

Historical Current Forward
PE 9.70 15.90 0.00
EPS / Growth 3.6% 0.22 0.0%

Value Price & Investment Recovery Time

Read more about Stock2Own value price in Stock Market: Fundamental Analysis.

Equity Growth Rate: 5.3%

Estimates Pessimistic Moderate Optimistic My Numbers
Rate of Return 15.0%
MOS Price % 50 %
Future EPS Growth 0.0% 3.0% 3.0%
Future PE 0.00 5.21 5.21
Future EPS 0.22 0.29 0.29
Value Price
MOS		 0.00
-100.0% 		0.38
-89.4% 		0.38
-89.4%
MOS Price 0.00 0.19 0.19
IRT 16.31 13.17 13.17

Graham Number:

NOTE: The Graham Number applies only to certain types of stocks in combination with a number of other criteria.

Read more about Graham Number in Stock Market: Fundamental Analysis.

  • Graham Number: 2.88
  • Graham MOS: -19.9%

Price Chart

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