EN DE
STOCK COMPARISON

Naturgy Energy Group vs Snam SpA: Fair Value & Quality

Both stocks run through our valuation models. Here is how Naturgy Energy Group (NTGY) and Snam SpA (SRG) compare, as of Sep 24, 2026.

As of Sep 24, 2026, Fair Value Calculator sees Naturgy Energy Group as the more attractively valued of the two: Naturgy Energy Group trades at €29.22 versus a fair value of €32.79 (+12%), while Snam SpA trades at €5.63 versus €3.64 (-35%).
Naturgy Energy Group
NTGY.MC · EUR · Utilities
+12%
upside to fair value
undervalued
Price€29.22
Fair Value€32.79
Quality55/100
Snam SpA
SRG.MI · EUR · Energy
-35%
upside to fair value
overvalued
Price€5.63
Fair Value€3.64
Quality50/100
Get comparisons like this free by email every month: the most undervalued quality stocks.

Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

Naturgy Energy GroupSnam SpA
Valuation
13.2×P/E (TTM)15.6×
1.69×P/S (TTM)6.28×
3.45×P/B2.66×
8.1×EV/EBITDA12.6×
6.40×PEG2.41×
+12.2%Fair value upside−35.3%
6.3%Dividend yield4.5%
Profitability
18%Operating margin48%
1.42×EBIT margin trend (5Y)0.94×
22%Return on equity11%
6%Return on assets4%
Growth
-7%Revenue growth (YoY)3%
+15.4%Value creation/yr+7.4%
Balance & size
7.1×Interest coverage (EBIT/interest)3.9×
1.38×Debt / equity1.56×
$32BMarket cap$25B
mixedGrowth qualityexpensive
Valuation multiples (P/E, P/S, P/B, EV/EBITDA) are shown but not scored here: the two companies sit in different sectors, and multiples only compare fairly between similar business models. PEG stays scored, as it relates the P/E to growth.

Naturgy Energy Group leads: 8 to 2 metric wins.

n/a = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Naturgy Energy Groupof which business quality 52 · market factors 70 Snam SpAof which business quality 46 · market factors 56
ProfitabilityMargins and returns on capital today
45
41
Quality GrowthAre margins and returns improving?
37
51
CashflowEarnings quality: real cash, not paper profit
67
54
Fin. StrengthBalance sheet, leverage, solvency risk
30
14
InvestmentDisciplined investing over empire-building
71
47
Low VolatilityCalm price path (market factor)
94
93
MomentumPrice trend over the last 3–12 months (market factor)
55
38
52W MomentumDistance to the 52-week high (market factor)
68
44
Net IssuanceShare count: buybacks or dilution?
76
81

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyNaturgy Energy GroupPrice €29.22Snam SpAPrice €5.63
DCF Models+18%above the price€34.42n/a
Earnings-Based-9%close to the price€26.55-75%below the price€1.38
Dividend Discount-20%below the price€23.41-26%below the price€4.15
Multiples+38%above the price€40.20-71%below the price€1.61
Asset-Based-77%below the price€6.76-67%below the price€1.84
Growth DCF+26%above the price€36.74n/a
Economic Profit-28%below the price€20.95-63%below the price€2.07
Growth Earnings+5%close to the price€30.66-22%below the price€4.39
Minimum-77%below the price€6.76-75%below the price€1.38
Maximum+38%above the price€40.20-22%below the price€4.39
Median-2%close to the price€28.60-65%below the price€1.95
Geometric mean-16%below the price€24.67-59%below the price€2.31

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Naturgy Energy Group: 8 of 24 models see the stock below the current price.

Snam SpA: 13 of 14 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

Naturgy Energy Group
Price €29.22
Fair Value €32.79
Bear €20.92Bull €48.33
Snam SpA
Price €5.63
Fair Value €3.64
Bear €2.57Bull €4.75

Compare two other stocks

Tap a field and type again, ticker or company name.

Free, no sign-up

Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Naturgy Energy Group · Utilities

Quality score55 · Top 25%
Fair value upside+12% · above median

Snam SpA · Energy

Quality score50 · above median
Fair value upside-35% · below median

Bottom line

As of Sep 24, 2026, Fair Value Calculator sees Naturgy Energy Group as the more attractively valued of the two: Naturgy Energy Group trades at €29.22 versus a fair value of €32.79 (+12%), while Snam SpA trades at €5.63 versus €3.64 (-35%).

Naturgy Energy Group has the higher quality score (55/100).

Open Naturgy Energy Group live analysis →
Naturgy Energy Group · Snam SpA

More comparisons

Popular match-ups from the same sectors, all with fair value and quality score.

Related to Naturgy Energy Group

Microsoft vs NvidiaApple vs MicrosoftNvidia vs Taiwan Semiconductor ManufacturingApple vs Taiwan Semiconductor Manufacturing

Related to Snam SpA

Alphabet Inc Class C vs Meta PlatformsCisco Systems vs NvidiaMicrosoft vs Taiwan Semiconductor ManufacturingApple vs Cisco Systems
Free · Top-25 report

See the undervalued quality stocks every month

Just your email for the monthly Top-25 report of the most undervalued quality stocks, with fair value, quality and price target. Plus 14 days of Pro to try, no card.

Free. You confirm by email (double opt-in) and can unsubscribe anytime in one click. Not financial advice.

A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.