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SRG - Snam S.p.A.

MIL -> Utilities -> Utilities—Regulated Gas
San Donato Milanese, Italy
Type: Equity

SRG price evolution
SRG
(in millions $) 30 Sep 2023 30 Jun 2023 31 Mar 2023 31 Jan 2023
Current assets
Cash $114.85 $137.75 $132.05 $144.94
Short term investments
Net receivables $20.64 $22.19 $25.98 $41.49
Inventory
Total current assets $119.52 $147.04 $146.46 $174.97
Long term investments
Property, plant & equipment $639.66 $674.89 $967.76 $764.42
Goodwill & intangible assets $0.93 $1.52 $1.61 $1.79
Total noncurrent assets
Total investments $208.67 $301.49 $353.92 $382.6
Total assets $1016.29 $1167.97 $1516.37 $1841.72
Current liabilities
Accounts payable $56.03 $56.32 $58.56 $88.39
Deferred revenue
Short long term debt
Total current liabilities $55.17 $55.39 $57.6 $88.39
Long term debt $400 $549.97 $799.86 $1029.75
Total noncurrent liabilities
Total debt $400 $549.97 $799.86 $1029.75
Total liabilities $456.03 $606.28 $858.42 $1121.25
Shareholders' equity
Retained earnings -$802.8 -$800.67 -$703.74 -$640.53
Other shareholder equity
Total shareholder equity $559.17 $560.63 $656.91 $720.47
(in millions $) 31 Jan 2023 31 Dec 2021 31 Dec 2020 31 Dec 2019
Current assets
Cash $144.94 $113.75 $150.25 $139.26
Short term investments
Net receivables $41.49 $29.11 $46.57 $54.47
Inventory
Total current assets $174.97 $135.71 $190.3 $193.8
Long term investments
Property, plant & equipment $764.42 $1696.11 $1912.74 $1975.91
Goodwill & intangible assets $1.79 $14.82 $18.59 $68.15
Total noncurrent assets
Total investments $382.6 $498.56 $457.03 $445.08
Total assets $1841.72 $2414.14 $2648.94 $2750.61
Current liabilities
Accounts payable $88.39 $109.38 $146.88 $108.75
Deferred revenue
Short long term debt
Total current liabilities $88.39 $105.72 $142.7 $98.1
Long term debt $1029.75 $1459.96 $1619.3 $1598.5
Total noncurrent liabilities
Total debt $1029.75 $1459.96 $1619.33 $1598.49
Total liabilities $1121.25 $1569.34 $1766.22 $1707.24
Shareholders' equity
Retained earnings -$640.53 -$553.77 -$528.64 -$418.71
Other shareholder equity
Total shareholder equity $720.47 $687.74 $649.04 $731.42
(in millions $) 30 Sep 2023 30 Jun 2023 31 Mar 2023 31 Dec 2022
Revenue
Total revenue $5.05 $5.88 $0.68 $22.95
Cost of revenue $5.77 $7.37 $9.72 $13.13
Gross Profit -$0.72 -$1.48 -$9.04 $9.82
Operating activities
Research & development
Selling, general & administrative $8.03 $10.1 $12.22 $16.64
Total operating expenses $10.94 $14.25 $16.78 $25.98
Operating income -$11.66 -$15.73 -$25.83 -$16.16
Income from continuing operations
EBIT $8.95 -$83.22 -$46.8 $111.25
Income tax expense $0.09 -$0.04 -$0.01 $0.17
Interest expense $9.76 $12.53 $15.2 $18.63
Net income
Net income -$0.9 -$95.71 -$61.99 $92.45
Income (for common shares) -$2.13 -$96.93 -$63.21 $91.23
(in millions $) 31 Dec 2022 31 Dec 2021 31 Dec 2020 31 Dec 2019
Revenue
Total revenue $107.06 $116.68 $116.5 $168.63
Cost of revenue $65.72 $80.26 $77.93 $80.72
Gross Profit $41.34 $36.42 $38.56 $87.92
Operating activities
Research & development
Selling, general & administrative $47.63 $41.95 $28.85 $39.16
Total operating expenses $124.28 $93.15 $124.85 $143.74
Operating income -$82.95 -$56.73 -$86.28 -$55.82
Income from continuing operations
EBIT $13.25 $80.02 -$13.46 $35.32
Income tax expense $0.47 $0.2 $0.25 $0.2
Interest expense $86.73 $107.97 $91.32 $94.52
Net income
Net income -$73.94 -$28.15 -$105.03 -$59.4
Income (for common shares) -$78.84 -$33.05 -$109.93 -$64.3
(in millions $) 30 Sep 2023 30 Jun 2023 31 Mar 2023 31 Dec 2022
Net income -$0.9 -$95.71 -$61.99 $92.45
Operating activities
Depreciation $2.91 $4.15 $4.56 $9.34
Business acquisitions & disposals $91.45 $45.91 -$7.67 -$3.07
Stock-based compensation $0.65 $0.65 $0.77 $1.03
Total cash flows from operations -$10.49 -$9.57 -$21.95 -$44.38
Investing activities
Capital expenditures
Investments
Total cash flows from investing $138.77 $266.5 $240.29 $289.95
Financing activities
Dividends paid
Sale and purchase of stock
Net borrowings -$150 -$250 -$230 -$240
Total cash flows from financing -$151.18 -$251.22 -$231.22 -$241.22
Effect of exchange rate
Change in cash and equivalents -$22.91 $5.7 -$12.89 $4.35
(in millions $) 31 Dec 2022 31 Dec 2021 31 Dec 2020 31 Dec 2019
Net income -$73.94 -$28.15 -$105.03 -$59.4
Operating activities
Depreciation $41.11 $51.2 $96 $104.58
Business acquisitions & disposals $42.08 -$26.06 -$42.19 -$52.31
Stock-based compensation $2.77 $1.86 -$3.04 $6.84
Total cash flows from operations -$117.92 -$136 -$47.31 -$57.66
Investing activities
Capital expenditures
Investments
Total cash flows from investing $586.08 $260.71 $42.87 -$299.49
Financing activities
Dividends paid -$17.96
Sale and purchase of stock -$0.27 -$0.09 -$3.52
Net borrowings -$432.07 -$160 $20.43
Total cash flows from financing -$436.97 -$161.21 $15.44 -$36.45
Effect of exchange rate
Change in cash and equivalents $31.19 -$36.5 $10.99 -$393.6
Fundamentals
Market cap $245.85M
Enterprise value $531.01M
Shares outstanding 56.18M
Revenue $34.56M
EBITDA $11.16M
EBIT -$9.81M
Net Income -$66.14M
Revenue Q/Q -78.52%
Revenue Y/Y -69.32%
P/E ratio -3.72
EV/Sales 15.37
EV/EBITDA 47.59
EV/EBIT -54.11
P/S ratio 7.11
P/B ratio 0.44
Book/Share 9.95
Cash/Share 2.04
EPS -$1.18
ROA -4.77%
ROE -10.59%
Debt/Equity 1.56
Net debt/EBITDA 30.58
Current ratio 2.17
Quick ratio 2.17