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Italgas SpAMIL:IG +0.12%74 Intrinsic Value: Projected FCF is €2.28 as of Sep. 21, 2026. GuruFocus rates MIL:IG with a GF Score™ of 74/100 and a GF Value™ of €6.75 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 382 Utilities - Regulated companies, Italgas SpA ranks worse than 85.86% on this metric.
Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company. The details of how we calculate the intrinsic value of stocks are described in detail here.
As of today (2026-09-21), Italgas SpA's Intrinsic Value: Projected FCF is €2.28. The stock price of Italgas SpA is €8.45. Therefore, Italgas SpA's Price-to-Intrinsic-Value-Projected-FCF of today is 3.7.
The historical rank and industry rank for Italgas SpA's Intrinsic Value: Projected FCF or its related term are showing as below:
MIL:IG'
s Price-to-Projected-FCF Range Over the Past 10 Years
Min: 2.23 Med: 2.46 Max: 3.71
Current: 3.71
During the past 13 years, the highest Price-to-Intrinsic-Value-Projected-FCF of Italgas SpA was 3.71. The lowest was 2.23. And the median was 2.46.
MIL:IG's Price-to-Projected-FCF is ranked worse than 85.86% of 382
companies
in the Utilities - Regulated industry
Industry Median: 1
vs MIL:IG: 3.71
The growth multiple is capped between 8.35 and 17.74.
Total Stockholders Equity weighting is more art than science and it should always be revisited in more detail when researching a company. Weightings from 0% to 100% to more than 100% are possible. 80% was chosen as a happy median after taking the above ideas into consideration.
Italgas SpA's Price-to-Intrinsic-Value-Projected-FCF for today is calculated as
Price-to-Intrinsic-Value-Projected-FCF
=
Share Price
/
Intrinsic Value: Projected FCF
=
8.45
/
=
* 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.
Italgas SpA Intrinsic Value: Projected FCF Related Terms
Italgas SpA Intrinsic Value: Projected FCF Historical Data
* Premium members only.
The historical data trend for Italgas SpA's Intrinsic Value: Projected FCF 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.
MIL:IG vs ATO, NI, UGI: Intrinsic Value: Projected FCF Comparison
For the Utilities - Regulated Gas subindustry, Italgas SpA's Price-to-Projected-FCF, along with its competitors' market caps and Price-to-Projected-FCF 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.
Italgas SpA Price-to-Projected-FCF vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Italgas SpA's Price-to-Projected-FCF distribution charts can be found below:
* The bar in red indicates where Italgas SpA's Price-to-Projected-FCF falls into.
Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company.
The details of how we calculate the intrinsic value of stocks are described in detail here.
This method smooths out the free cash flow over the past 6-7 years, multiplies the results by a growth multiple, and adds a portion of Total Stockholders Equity.
What does a Intrinsic Value: Projected FCF of €2.28 mean?
Italgas SpA (MIL:IG) has a Intrinsic Value: Projected FCF of €2.28 as of Sep. 21, 2026. Intrinsic Value: Projected FCF is the stock value based on a projected free cash flow model. View historical data on Italgas SpA and its competitors. According to the industry distribution chart, Italgas SpA ranks #328 out of 382 companies in the Utilities - Regulated industry, placing it in the top 85.9%.
Is Italgas SpA's Intrinsic Value: Projected FCF too high?
Italgas SpA's current Intrinsic Value: Projected FCF is €2.28. Based on the distribution chart, Italgas SpA ranks #328 out of 382 companies in the Utilities - Regulated industry, which is in the bottom quartile relative to peers. Overall, Italgas SpA has a GF Score™ of 74/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Italgas SpA's Intrinsic Value: Projected FCF compare to ATO and NI?
According to the Utilities - Regulated industry distribution chart, Italgas SpA ranks #328 out of 382 companies for Intrinsic Value: Projected FCF. This places Italgas SpA in the lower half of its industry. The industry median Intrinsic Value: Projected FCF is 1.00. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Intrinsic Value: Projected FCF for an Utilities - Regulated company?
The median Intrinsic Value: Projected FCF among Utilities - Regulated companies is 1.00, based on 382 companies in the industry. Companies in the top quartile (top 25%) have a Intrinsic Value: Projected FCF significantly above this median, while those in the bottom quartile fall well below. However, Intrinsic Value: Projected FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Intrinsic Value: Projected FCF mean?
A high Intrinsic Value: Projected FCF can signal that a stock is expensive relative to its fundamentals. Intrinsic Value: Projected FCF is the stock value based on a projected free cash flow model. View historical data on Italgas SpA and its competitors. For the Utilities - Regulated industry, the median Intrinsic Value: Projected FCF is 1.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Italgas SpA's current Intrinsic Value: Projected FCF is €2.28. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Italgas SpA stock overvalued right now?
Based on GuruFocus' analysis, Italgas SpA (MIL:IG) is currently considered Modestly Overvalued. The stock's GF Value™ is €6.75, compared to a current price of €8.45 — trading 25.2% above its estimated fair value. The current Intrinsic Value: Projected FCF is €2.28. Italgas SpA's overall GF Score™ is 74/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Intrinsic Value: Projected FCF calculated?
Intrinsic Value: Projected FCF is calculated from a company's financial statements. For Italgas SpA (MIL:IG), the current Intrinsic Value: Projected FCF is €2.28 as of Sep. 21, 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 Italgas SpA (MIL:IG) Overvalued in 2026?
Based on GuruFocus' analysis, Italgas SpA stock appears to be overvalued.
The current stock price of €8.45 is trading 25.2% above its estimated GF Value™ of €6.75.
GuruFocus considers Italgas SpA to be Modestly Overvalued.
Key valuation signals for MIL:IG:
Intrinsic Value: Projected FCF: €2.28
GF Value™: €6.75 vs. price of €8.45 (25.2% above fair value)
No single metric tells the full story. See the MIL:IG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Italgas SpA is an Italy-based company engaged in the business of natural gas distribution. The distribution service consists of transporting gas through local pipeline networks, from points of delivery at the reduction and measurement stations interconnected with the transport networks up to the final delivery points to customers. In addition, the company is also engaged in metering activities, which consist of determining, gathering, making available, and archiving metering data on natural gas withdrawn over the distribution networks. It derives a majority of its revenue from natural gas distribution activity. The other activities of the company are the distribution and sale of water and providing technical, engineering, IT assistance, and other services.
74GF Score
Get the complete analysis for MIL:IG
Intrinsic Value: Projected FCF is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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