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Forecast

Buy	5
Hold	1
Sell	1

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Moody’s raises outlook for SNAM to positive, confirms Baa2 rating

Moody’s has raised the outlook for SNAM from “stable” to “positive” and confirmed the long-term issuer rating of Baa2. The decision follows the end of the takeover agreement for 24.99% of Viergas Gas Holding, which is expected to lead to stronger credit metrics; SNAM also announced for 2025 an EBITDA higher by €0.1bn and net debt lower by €0.4bn. Moody’s expects an FFO/net-debt ratio of around 12% for 2025–2027, sees no material risk of strategic realignment and anchors the rating on SNAM’s strong role in the Italian gas network and its regulated businesses. » More on de.investing.com
SNAM offers around 5% dividend thanks to stable gas infrastructure

SNAM, Italy's leading gas infrastructure provider, currently pays about a 5% dividend and benefits from predictable cash flows from its extensive gas network. The business model is less dependent on volatile energy prices and allows an attractive dividend policy alongside moderate growth. With a P/E around 13 and expected high single-digit growth rates, long-term rising share prices appear possible, but investors should be aware of sector-specific risks. » More on de.investing.com
Snam raises annual targets and awaits decision on OGE deal

Snam raises its forecast for adjusted operating profit in 2025 to around €2.95 billion after a strong business performance in the first nine months. Adjusted EBITDA increased 6.6% to €2.23 billion, and adjusted net profit rose 10% to €1.1 billion. The planned acquisition of 24.99% of Open Grid Europe remains dependent on a decision by the Federal Ministry for Economic Affairs; a long-stop date is set for 17 November. » More on de.investing.com

Historical dividends Dividends

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In 2026, SNAM has already paid €0.30 in dividends. The last payout was in June.

Financials

In the last quarter, SNAM had revenue of €2.03B and net profit of €644.95M

(EUR)	June 2026	YoY
Revenue	2.03B	-
Gross profit	1.24B	-
Net profit	644.95M	-
EBITDA	1.55B	-

Fundamentals

Metric	Value
Market capitalization	€18.75B
Number of shares	3.36B
52-week high/low	€7.30 - €5.34
Dividend yield	5.05%
Dividends TTM	€0.30
Beta	0.59
P/E ratio	17.52
PEG ratio	-0.92
P/B ratio	2.42
P/S ratio	5.05

Company profile

Snam S.p.A., together with its subsidiaries, engages in the operation of natural gas transport and storage infrastructure in Italy. The company operates through Natural Gas Transportation, Liquefied Natural Gas (LNG) Regasification, and Natural Gas Storage segments. It provides natural gas transportation and dispatching services with approximately 32,700 kilometers of high-and medium-pressure gas pipelines; and owns and manages LNG regasification plants. The company also offers natural gas storage services through an integrated group of infrastructure comprising deposits, wells, gas treatment and compression plants, and the operational dispatching systems; and operates nine storage concessions, including five in Lombardy, three in Emilia-Romagna, and one in Abruzzo. In addition, it engages in the lease and maintenance of fibre optic telecommunications cables, as well as provides integrated services in the natural gas mobility sector; energy efficiency solutions for residential, industrial, tertiary, and public administration sectors; and management of biogas and biomethane plants. Further, the company offers engineering and project management services; and supervision of infrastructure planning activities. It also operates in Albania, Saudi Arabia, Austria, China, Egypt, the United Arab Emirates, France, Greece, the United Kingdom, and the United States. The company was formerly known as Snam Rete Gas S.p.A. and changed its name to Snam S.p.A. in January 2012. Snam S.p.A. was founded in 1941 and is headquartered in San Donato Milanese, Italy.