Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Snam SpAMIL:SRG -0.90%71 EV-to-OCF is 11.23 as of Sep. 02, 2026, which is 17% below its 10-year median of 13.58. GuruFocus rates MIL:SRG with a GF Score™ of 71/100 and a GF Value™ of €5.04 (Modestly Overvalued). The stock has 6 warning signs investors should review. Among 506 Utilities - Regulated companies, Snam SpA ranks worse than 54.15% on this metric.
EV-to-OCF is calculated as enterprise value divided by its cash flow from operations. As of today, Snam SpA's Enterprise Value is €38,188 Mil.
Snam SpA's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was €3,402 Mil. Therefore, Snam SpA's EV-to-OCF for today is 11.23.
The historical rank and industry rank for Snam SpA's EV-to-OCF or its related term are showing as below:
MIL:SRG'
s EV-to-OCF Range Over the Past 10 Years
Min: -233.9 Med: 13.58 Max: 516.97
Current: 11.27
During the past 13 years, the highest EV-to-OCF of Snam SpA was 516.97. The lowest was -233.90. And the median was 13.58.
MIL:SRG's EV-to-OCF is ranked worse than 54.15% of 506
companies
in the Utilities - Regulated industry
Industry Median: 10.4
vs MIL:SRG: 11.27
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Snam SpA's share price for today is €5.744.
Snam SpA's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €0.332.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Snam SpA EV-to-OCF Related Terms
Snam SpA EV-to-OCF Historical Data
* Premium members only.
The historical data trend for Snam SpA's EV-to-OCF can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Utilities - Regulated Gas subindustry, Snam SpA's EV-to-OCF, along with its competitors' market caps and EV-to-OCF data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Snam SpA EV-to-OCF vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Snam SpA's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where Snam SpA's EV-to-OCF falls into.
Snam SpA's current Enterprise Value is €38,188 Mil.
Snam SpA's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €3,402 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Snam SpA (MIL:SRG) has a EV-to-OCF of 11.23 as of Sep. 02, 2026. This is 17% below median its historical median of 13.58. According to the industry distribution chart, Snam SpA ranks #274 out of 506 companies in the Utilities - Regulated industry, placing it in the top 54.2%.
Is Snam SpA's EV-to-OCF too high?
Snam SpA's current EV-to-OCF of 11.23 is 17% below median its 10-year median of 13.58. The Utilities - Regulated industry median EV-to-OCF is 10.40. Snam SpA's value of 11.23 is 8% above this industry median. Based on the distribution chart, Snam SpA ranks #274 out of 506 companies in the Utilities - Regulated industry, which is below the industry midpoint. Overall, Snam SpA has a GF Score™ of 71/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Snam SpA's EV-to-OCF compare to ATO and NI?
According to the Utilities - Regulated industry distribution chart, Snam SpA ranks #274 out of 506 companies for EV-to-OCF. This places Snam SpA in the lower half of its industry. The industry median EV-to-OCF is 10.40. Snam SpA's value of 11.23 is 8% above this benchmark. While the company's 10-year median is 13.58 vs. the industry median of 10.40, Snam SpA has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-OCF for an Utilities - Regulated company?
The median EV-to-OCF among Utilities - Regulated companies is 10.40, based on 506 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-OCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-OCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Snam SpA's current EV-to-OCF of 11.23 is 8% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. For the Utilities - Regulated industry, the median EV-to-OCF is 10.40 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Snam SpA's current EV-to-OCF is 11.23, which is 17% below median its own 10-year median of 13.58. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Snam SpA stock overvalued right now?
Based on GuruFocus' analysis, Snam SpA (MIL:SRG) is currently considered Modestly Overvalued. The stock's GF Value™ is €5.04, compared to a current price of €5.74 — trading 14% above its estimated fair value. The current EV-to-OCF is 11.23, which is 17% below median its 10-year median of 13.58 and 8% above the Utilities - Regulated industry median of 10.40. Snam SpA's overall GF Score™ is 71/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For Snam SpA (MIL:SRG), the current EV-to-OCF is 11.23 as of Sep. 02, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Snam SpA (MIL:SRG) Overvalued in 2026?
Based on GuruFocus' analysis, Snam SpA stock appears to be overvalued.
The current stock price of €5.74 is trading 14% above its estimated GF Value™ of €5.04.
GuruFocus considers Snam SpA to be Modestly Overvalued.
Key valuation signals for MIL:SRG:
EV-to-OCF: 11.23 (17% below median its 10-year median of 13.58)
GF Value™: €5.04 vs. price of €5.74 (14% above fair value)
Industry Position: 8% above the Utilities - Regulated median (#274 of 506)
No single metric tells the full story. See the MIL:SRG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Snam operates a network of about 38,000 kilometers of natural gas pipelines in Italy and abroad. It also holds 17% of European gas storage capacity and 18.1 billion cubic meters of LNG regasification capacity. Snam is investing in hydrogen, biofuels, carbon capture and storage, and energy efficiencies to prepare for the energy transition. Snam became independent from Eni in 2012 after the latter sold its stake to Cassa Depositi e Prestiti, a financial institution controlled by the Ministry of Economy and Finance.
71GF Score
Get the complete analysis for MIL:SRG
EV-to-OCF is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
MIL:SRG has been successfully added to your 
