Italgas SpAMIL:IG -0.18%75 Return-on-Tangible-Asset is 17.01% as of Mar. 2026, which is 7% below its 10-year median of 18.24. GuruFocus rates MIL:IG with a GF Score™ of 75/100 and a GF Value™ of €7.97 (Modestly Overvalued). The stock has 7 warning signs investors should review. Among 510 Utilities - Regulated companies, Italgas SpA ranks better than 95.29% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Italgas SpA's annualizedNet Income for the quarter that ended in Mar. 2026 was €716 Mil. Italgas SpA's average total tangible assets for the quarter that ended in Mar. 2026 was €4,208 Mil. Therefore, Italgas SpA's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 17.01%.
The historical rank and industry rank for Italgas SpA's Return-on-Tangible-Asset or its related term are showing as below:
MIL:IG'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -6.44 Med: 18.24 Max: 29.51
Current: 16.28
During the past 10 years, Italgas SpA's highest Return-on-Tangible-Asset was 29.51%. The lowest was -6.44%. And the median was 18.24%.
MIL:IG's Return-on-Tangible-Asset is ranked better than 95.29% of 510
companies
in the Utilities - Regulated industry
Industry Median: 3.3
vs MIL:IG: 16.28
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Italgas SpA Return-on-Tangible-Asset Related Terms
Italgas SpA Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Italgas SpA's Return-on-Tangible-Asset 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: Return-on-Tangible-Asset Comparison
For the Utilities - Regulated Gas subindustry, Italgas SpA's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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 Return-on-Tangible-Asset vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Italgas SpA's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Italgas SpA's Return-on-Tangible-Asset 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.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 17.01% mean?
Italgas SpA (MIL:IG) has a Return-on-Tangible-Asset of 17.01% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Italgas SpA and its competitors. This is near median its historical median of 18.24. According to the industry distribution chart, Italgas SpA ranks #24 out of 510 companies in the Utilities - Regulated industry, placing it in the top 4.7%.
Is Italgas SpA's Return-on-Tangible-Asset too high?
Italgas SpA's current Return-on-Tangible-Asset of 17.01% is near median its 10-year median of 18.24. The Utilities - Regulated industry median Return-on-Tangible-Asset is 3.30. Italgas SpA's value of 17.01% is 415.5% above this industry median. Based on the distribution chart, Italgas SpA ranks #24 out of 510 companies in the Utilities - Regulated industry, which is in the top quartile — a strong position relative to peers. Overall, Italgas SpA has a GF Score™ of 75/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Italgas SpA's Return-on-Tangible-Asset compare to ATO and NI?
According to the Utilities - Regulated industry distribution chart, Italgas SpA ranks #24 out of 510 companies for Return-on-Tangible-Asset. This places Italgas SpA in the top 5% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Asset is 3.30. Italgas SpA's value of 17.01% is 415.5% above this benchmark. While the company's 10-year median is 18.24 vs. the industry median of 3.30, Italgas 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 Return-on-Tangible-Asset for an Utilities - Regulated company?
The median Return-on-Tangible-Asset among Utilities - Regulated companies is 3.30, based on 510 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Italgas SpA's current Return-on-Tangible-Asset of 17.01% is 415.5% 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 Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Italgas SpA and its competitors. For the Utilities - Regulated industry, the median Return-on-Tangible-Asset is 3.30 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Italgas SpA's current Return-on-Tangible-Asset is 17.01%, which is near median its own 10-year median of 18.24. 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 €7.97, compared to a current price of €9.92 — trading 24.5% above its estimated fair value. The current Return-on-Tangible-Asset is 17.01%, which is near median its 10-year median of 18.24 and 415.5% above the Utilities - Regulated industry median of 3.30. Italgas SpA's overall GF Score™ is 75/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Italgas SpA (MIL:IG), the current Return-on-Tangible-Asset is 17.01% 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 Italgas SpA (MIL:IG) Overvalued in 2026?
Based on GuruFocus' analysis, Italgas SpA stock appears to be overvalued.
The current stock price of €9.92 is trading 24.5% above its estimated GF Value™ of €7.97.
GuruFocus considers Italgas SpA to be Modestly Overvalued.
Key valuation signals for MIL:IG:
Return-on-Tangible-Asset: 17.01% (near median its 10-year median of 18.24)
GF Value™: €7.97 vs. price of €9.92 (24.5% above fair value)
Industry Position: 415.5% above the Utilities - Regulated median (#24 of 510)
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.
75GF Score
Get the complete analysis for MIL:IG
Return-on-Tangible-Asset 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:IG has been successfully added to your 
