Italgas SpAMIL:IG +1.34%78 Return-on-Tangible-Equity is Negative Tangible Equity% as of Mar. 2026. GuruFocus rates MIL:IG with a GF Score™ of 78/100 and a GF Value™ of €8.09 (Modestly Overvalued). The stock has 9 warning signs investors should review. Among 496 Utilities - Regulated companies, Italgas SpA ranks better than 99.8% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Italgas SpA's annualized net income for the quarter that ended in Mar. 2026 was €716 Mil. Italgas SpA's average shareholder tangible equity for the quarter that ended in Mar. 2026 was €-10,297 Mil. Therefore, Italgas SpA's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was Negative Tangible Equity%.
The historical rank and industry rank for Italgas SpA's Return-on-Tangible-Equity or its related term are showing as below:
MIL:IG'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 0 Med: 0 Max: 0
Current: Negative Tangible Equity
MIL:IG's Return-on-Tangible-Equity is ranked better than 99.8% of 496
companies
in the Utilities - Regulated industry
Industry Median: 10.91
vs MIL:IG: Negative Tangible Equity
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Italgas SpA Return-on-Tangible-Equity Related Terms
Italgas SpA Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Italgas SpA's Return-on-Tangible-Equity 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-Equity Comparison
For the Utilities - Regulated Gas subindustry, Italgas SpA's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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-Equity vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Italgas SpA's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Italgas SpA's Return-on-Tangible-Equity 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-Equity, the net income of the last fiscal year and the average total shareholder tangible equity 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.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of Negative Tangible Equity% mean?
Italgas SpA (MIL:IG) has a Return-on-Tangible-Equity of Negative Tangible Equity% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Italgas SpA and its competitors. According to the industry distribution chart, Italgas SpA ranks #1 out of 496 companies in the Utilities - Regulated industry, placing it in the top 0.2%.
Is Italgas SpA's Return-on-Tangible-Equity too high?
Italgas SpA's current Return-on-Tangible-Equity is Negative Tangible Equity%. Based on the distribution chart, Italgas SpA ranks #1 out of 496 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 78/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Italgas SpA's Return-on-Tangible-Equity compare to ATO and NI?
According to the Utilities - Regulated industry distribution chart, Italgas SpA ranks #1 out of 496 companies for Return-on-Tangible-Equity. This places Italgas SpA in the top 0% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 10.91. 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-Equity for an Utilities - Regulated company?
The median Return-on-Tangible-Equity among Utilities - Regulated companies is 10.91, based on 496 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity 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 Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Italgas SpA and its competitors. For the Utilities - Regulated industry, the median Return-on-Tangible-Equity is 10.91 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Italgas SpA's current Return-on-Tangible-Equity is Negative Tangible Equity%. 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 €8.09, compared to a current price of €10.18 — trading 25.8% above its estimated fair value. The current Return-on-Tangible-Equity is Negative Tangible Equity%. Italgas SpA's overall GF Score™ is 78/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For Italgas SpA (MIL:IG), the current Return-on-Tangible-Equity is Negative Tangible Equity% 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 €10.18 is trading 25.8% above its estimated GF Value™ of €8.09.
GuruFocus considers Italgas SpA to be Modestly Overvalued.
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.
78GF Score
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