Italgas stock: fair value
IG.MIThe fair value of Italgas under our model is $14.13, the price is 27% below.
The fair value is an estimate from our model, not a price target.
Daily figure as of 13 Nov 2026
Valuation signal
Modestly undervaluedIn our model the price counts as cheap below $10.09 and expensive above $23.55 (uncertainty high, one part of the fair value is more than twice the other).
The two parts of the fair value come to $9.26 (cash-flow model) and $19.00 (industry comparison), and the gap between them shows how uncertain the estimate is.
Calculated with a cost of equity of 8.9%. At 9.9% the fair value would be $13.40, at 7.9% it would be $15.19.
Where the number comes from
Half from the dividend model, half from earnings times the industry P/E (19.6).
Dividend model: the dividend grows by 3.5% a year for good and is discounted at 8.9% (government bond yield 3.5% plus beta 0.8 times a risk premium of 6.7%).
Calculate with your own assumptionsThe calculation step by step
With these figures the dividend model arrives at $9.26 per share: next year's dividend divided by the gap between the discount rate and growth. The table explains the calculation; it is not a recommendation.
Calculation as a table
| Step | Value |
|---|---|
| Dividend per share | $0.48 |
| Next dividend: × (1 + 3.5%) | $0.50 |
| Value per share: next dividend / (8.9% − 3.5%) | $9.26 |
| Earnings per share, last twelve months | $0.97 |
| × 19.6 (industry P/E) | $19.00 |
| Fair value (average of both parts) | $14.13 |
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 12 Nov 2026 ($1 = €0.9024)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Neutral, published since 7 Nov 2026 (in the score history since 2 May 2025)
- Valuation signal Fairly valued since 8 Nov 2026, previously Undervalued
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.