Snam SpASNMRF -1.01%69 3-Year ROIIC % is 6.63 as of Dec. 2025, which is 65% above its 10-year median of 4.03. GuruFocus rates SNMRF with a GF Score™ of 69/100 and a GF Value™ of $5.68 (Modestly Overvalued). The stock has 9 warning signs investors should review. Among 476 Utilities - Regulated companies, Snam SpA ranks better than 60.71% on this metric.
3-Year Return on Invested Incremental Capital (3-Year ROIIC %) measures the change in earnings as a percentage of change in investment over 3-year.
Snam SpA's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was 6.63%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Snam SpA's 3-Year ROIIC % or its related term are showing as below:
SNMRF's 3-Year ROIIC % is ranked better than 60.71% of 476
companies
in the Utilities - Regulated industry
Industry Median: 3.99
vs SNMRF: 6.63
Snam SpA (OTCPK:SNMRF) 3-Year ROIIC % Explanation
Return on Incremental Invested Capital (ROIIC) is an extension of Return on Investment Capital (ROIC). ROIC % tells investors how efficiently that profitability is earned per dollar of company capital. ROIIC narrows the focus even further and shows how profitable each additional unit of capital investment could be. ROIIC % is a more powerful metric than ROIC because it measures how much money the company can generate going forward on future capital investments.
High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
Be Aware
It's important to keep in mind that when tracking ROIIC, the metric is better suited to forecasting the trend of future returns rather than measuring current return on investment.
Snam SpA 3-Year ROIIC % Related Terms
Snam SpA 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Snam SpA's 3-Year ROIIC % 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 3-Year ROIIC %, along with its competitors' market caps and 3-Year ROIIC % 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 3-Year ROIIC % vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Snam SpA's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Snam SpA's 3-Year ROIIC % 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.
** Annual data of NOPAT and Invested Capital was used to calculate 3-Year ROIIC %.
*** Please be aware that the ROIIC (Return on Invested Capital) calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
Snam SpA (SNMRF) has a 3-Year ROIIC % of 6.63 as of Dec. 2025. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Snam SpA and its competitors. This is 65% above median its historical median of 4.03. According to the industry distribution chart, Snam SpA ranks #187 out of 476 companies in the Utilities - Regulated industry, placing it in the top 39.3%.
Is Snam SpA's 3-Year ROIIC % too high?
Snam SpA's current 3-Year ROIIC % of 6.63 is 65% above median its 10-year median of 4.03. The Utilities - Regulated industry median 3-Year ROIIC % is 3.99. Snam SpA's value of 6.63 is 66.2% above this industry median. Based on the distribution chart, Snam SpA ranks #187 out of 476 companies in the Utilities - Regulated industry, which is above the industry midpoint. Overall, Snam SpA has a GF Score™ of 69/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Snam SpA's 3-Year ROIIC % compare to ATO and NI?
According to the Utilities - Regulated industry distribution chart, Snam SpA ranks #187 out of 476 companies for 3-Year ROIIC %. This puts Snam SpA in the upper half of its industry. The industry median 3-Year ROIIC % is 3.99. Snam SpA's value of 6.63 is 66.2% above this benchmark. While the company's 10-year median is 4.03 vs. the industry median of 3.99, 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 3-Year ROIIC % for an Utilities - Regulated company?
The median 3-Year ROIIC % among Utilities - Regulated companies is 3.99, based on 476 companies in the industry. Companies in the top quartile (top 25%) have a 3-Year ROIIC % significantly above this median, while those in the bottom quartile fall well below. However, 3-Year ROIIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Snam SpA's current 3-Year ROIIC % of 6.63 is 66.2% 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 3-Year ROIIC % mean?
A high 3-Year ROIIC % can signal that a stock is expensive relative to its fundamentals. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Snam SpA and its competitors. For the Utilities - Regulated industry, the median 3-Year ROIIC % is 3.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Snam SpA's current 3-Year ROIIC % is 6.63, which is 65% above median its own 10-year median of 4.03. 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 (SNMRF) is currently considered Modestly Overvalued. The stock's GF Value™ is $5.68, compared to a current price of $7.04 — trading 24% above its estimated fair value. The current 3-Year ROIIC % is 6.63, which is 65% above median its 10-year median of 4.03 and 66.2% above the Utilities - Regulated industry median of 3.99. Snam SpA's overall GF Score™ is 69/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is 3-Year ROIIC % calculated?
3-Year ROIIC % is calculated from a company's financial statements. For Snam SpA (SNMRF), the current 3-Year ROIIC % is 6.63 as of Dec. 2025. 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 (SNMRF) Overvalued in 2026?
Based on GuruFocus' analysis, Snam SpA stock appears to be overvalued.
The current stock price of $7.04 is trading 24% above its estimated GF Value™ of $5.68.
GuruFocus considers Snam SpA to be Modestly Overvalued.
Key valuation signals for SNMRF:
3-Year ROIIC %: 6.63 (65% above median its 10-year median of 4.03)
GF Value™: $5.68 vs. price of $7.04 (24% above fair value)
Industry Position: 66.2% above the Utilities - Regulated median (#187 of 476)
No single metric tells the full story. See the SNMRF 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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