Snam SpAMEX:SRGS N 69 Pretax Margin % is 49.75% as of Mar. 2026, which is 4% above its 10-year median of 47.86. GuruFocus rates MEX:SRGS N with a GF Score™ of 69/100 and a GF Value™ of MXN66.28. The stock has 10 warning signs investors should review. Among 501 Utilities - Regulated companies, Snam SpA ranks better than 93.81% on this metric.
Pre-Tax margin is calculated as Pre-Tax Income divided by its Revenue. Snam SpA's Pre-Tax Income for the
three
months ended in Mar. 2026 was MXN10,361 Mil. Snam SpA's Revenue for the
three
months ended in Mar. 2026 was MXN20,826 Mil. Therefore, Snam SpA's pretax margin for the quarter that ended in Mar. 2026 was 49.75%.
The historical rank and industry rank for Snam SpA's Pretax Margin % or its related term are showing as below:
MEX:SRGS N'
s Pretax Margin % Range Over the Past 10 Years
Min: 30.03 Med: 47.86 Max: 54.97
Current: 41.82
MEX:SRGS N's Pretax Margin % is ranked better than 93.81% of 501
companies
in the Utilities - Regulated industry
Industry Median: 12.12
vs MEX:SRGS N: 41.82
Snam SpA (MEX:SRGS N) Pretax Margin % Explanation
The pretax margin, as know as pretax profit margin, is widely used to measure the operating efficiency of a company before deducting taxes.
The pretax margin is sometimes preferred over the net margin as tax expenditures can make profitability comparisons between companies misleading.
It is a useful tool to compare companies operating in the same sector and less effective when comparing companies from other sectors as each industry generally has different operating expenses and sales patterns.
The long term trend of the pretax margin is a good indicator of the competitiveness and health of the business.
Snam SpA Pretax Margin % Related Terms
Snam SpA Pretax Margin % Historical Data
* Premium members only.
The historical data trend for Snam SpA's Pretax Margin % 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.
MEX:SRGS N vs ATO, NI, UGI: Pretax Margin % Comparison
For the Utilities - Regulated Gas subindustry, Snam SpA's Pretax Margin %, along with its competitors' market caps and Pretax Margin % 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 Pretax Margin % vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Snam SpA's Pretax Margin % distribution charts can be found below:
* The bar in red indicates where Snam SpA's Pretax Margin % falls into.
* 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 (MEX:SRGS N) has a Pretax Margin % of 49.75% as of Mar. 2026. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Snam SpA and its competitors. This is near median its historical median of 47.86. Over the past decade, Snam SpA's Pretax Margin % has ranged from 30.03 to 54.97. According to the industry distribution chart, Snam SpA ranks #31 out of 501 companies in the Utilities - Regulated industry, placing it in the top 6.2%.
Is Snam SpA's Pretax Margin % too high?
Snam SpA's current Pretax Margin % of 49.75% is near median its 10-year median of 47.86. Over the past 10 years, this metric has ranged from a low of 30.03 to a high of 54.97. The Utilities - Regulated industry median Pretax Margin % is 12.12. Snam SpA's value of 49.75% is 310.5% above this industry median. Based on the distribution chart, Snam SpA ranks #31 out of 501 companies in the Utilities - Regulated industry, which is in the top quartile — a strong position relative to peers. Overall, Snam SpA has a GF Score™ of 69/100, reflecting its overall financial health beyond just this single metric.
How does Snam SpA's Pretax Margin % compare to ATO and NI?
According to the Utilities - Regulated industry distribution chart, Snam SpA ranks #31 out of 501 companies for Pretax Margin %. This places Snam SpA in the top 6% of its industry — outperforming the majority of peers. The industry median Pretax Margin % is 12.12. Snam SpA's value of 49.75% is 310.5% above this benchmark. Historically, Snam SpA's own Pretax Margin % has ranged from 30.03 to 54.97 over the past decade. While the company's 10-year median is 47.86 vs. the industry median of 12.12, 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 Pretax Margin % for an Utilities - Regulated company?
The median Pretax Margin % among Utilities - Regulated companies is 12.12, based on 501 companies in the industry. Companies in the top quartile (top 25%) have a Pretax Margin % significantly above this median, while those in the bottom quartile fall well below. However, Pretax Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Snam SpA's current Pretax Margin % of 49.75% is 310.5% 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 Pretax Margin % mean?
A high Pretax Margin % can signal that a stock is expensive relative to its fundamentals. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Snam SpA and its competitors. For the Utilities - Regulated industry, the median Pretax Margin % is 12.12 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Snam SpA's current Pretax Margin % is 49.75%, which is near median its own 10-year median of 47.86. 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?
Snam SpA (MEX:SRGS N) has a current Pretax Margin % of 49.75%. The stock's GF Value™ is MXN66.28, compared to a current price of MXN86.11 — trading 29.9% above its estimated fair value. The current Pretax Margin % is 49.75%, which is near median its 10-year median of 47.86 and 310.5% above the Utilities - Regulated industry median of 12.12. Snam SpA's overall GF Score™ is 69/100 with 10 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Pretax Margin % calculated?
Pretax Margin % is calculated from a company's financial statements. For Snam SpA (MEX:SRGS N), the current Pretax Margin % is 49.75% as of Mar. 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 (MEX:SRGS N) Overvalued in 2026?
Based on GuruFocus' analysis, Snam SpA stock appears to be overvalued.
The current stock price of MXN86.11 is trading 29.9% above its estimated GF Value™ of MXN66.28.
Key valuation signals for MEX:SRGS N:
Pretax Margin %: 49.75% (near median its 10-year median of 47.86)
GF Value™: MXN66.28 vs. price of MXN86.11 (29.9% above fair value)
Industry Position: 310.5% above the Utilities - Regulated median (#31 of 501)
No single metric tells the full story. See the MEX:SRGS N 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.
69GF Score
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