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Italgas S.p.A. IG.MI

IT · Borsa Italiana · XMIL · stock · Utilities · website

Italgas S.p.A. statistics & valuation

Market cap€8.5B
P / E12.7×
P / S2.4×
P / B2.2×
P / FCF15.9×
Net margin19.2%
FCF margin15.3%
Net debt€10.9B
Enterprise value USD$22.1B
Earnings yield EBIT/EV6.3%
Return on capital7.7%
Graham number -10.8%€7.48

Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value (€7.48); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
18.70% 17.10% 19.30% 19.20% 2022202320242025
Gross margin (%)
69.60% 68.30% 76.50% 77.50% 2022202320242025
Operating margin (%)
28.30% 29.00% 32.50% 35.10% 2022202320242025
Return on equity (%)
19.30% 19.30% 19.50% 17.60% 2022202320242025
Shares outstanding
1.02B 1.02B 1.02B 1.02B 2022202320242025
Net debt (€)
€6.09B €6.67B €6.83B €10.93B 2022202320242025
Share buybacks (€)
2022202320242025
Return on assets (%)
3.70% 3.90% 4.00% 3.60% 2022202320242025
Free cash flow margin (%)
-10.50% -11.30% 8.30% 15.30% 2022202320242025
Debt / equity (×)
3.10× 3.04× 2.92× 2.99× 2022202320242025
EPS (€)
€0.47 €0.51 €0.55 €0.66 2022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Italgas S.p.A. trades at about 12.7× earnings — above its 10-year norm (10-year range 10.4×–15.3×, median 11.4×).

10.4× 15.3×

Shaded band = 10-year range (10.4×–15.3×); dot = today's 12.7×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022
Gross margin77.5%76.5%68.3%69.6%
Operating margin35.1%32.5%29.0%28.3%
Net margin19.2%19.3%17.1%18.7%
FCF margin15.3%8.3%-11.3%-10.5%
Return on assets3.6%4.0%3.9%3.7%
Return on equity17.6%19.5%19.3%19.3%
Debt / equity2.71×2.51×2.56×3.01×
Current ratio0.910.730.731.32

Computed from company filings · IT · as of 2025-12-31. Figures in EUR. Facts plus Stocktoria's own computed scores — not investment advice.