Ascopiave SpA
MIL:ASC

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Ascopiave SpA
MIL:ASC
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Price: 3.43 EUR 0.59% Market Closed
Market Cap: €742.4m

EV/EBIT

15.2
Current
10%
Cheaper
vs 3-y median of 16.8

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
15.2
=
Enterprise Value
€1.3B
/
EBIT
€83m

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
15.2
=
Enterprise Value
€1.3B
/
EBIT
€83m

Valuation Scenarios

Ascopiave SpA is trading below its 3-year average

If EV/EBIT returns to its 3-Year Average (16.8), the stock would be worth €3.79 (11% upside from current price).

Statistics
Positive Scenarios
2/4
Maximum Downside
-37%
Maximum Upside
+30%
Average Downside
6%
Scenario EV/EBIT Value Implied Price Upside/Downside
Current Multiple 15.2 €3.43
0%
3-Year Average 16.8 €3.79
+11%
5-Year Average 19.7 €4.46
+30%
Industry Average 9.5 €2.16
-37%
Country Average 11.2 €2.53
-26%

Forward EV/EBIT
Today’s price vs future ebit

Today's Enterprise Value EBIT Forward EV/EBIT
€1.3B
/
Jan 2026
€83m
=
15.2
Current
€1.3B
/
Dec 2026
€71.4m
=
18.1
Forward
€1.3B
/
Dec 2027
€78.1m
=
16.6
Forward
€1.3B
/
Dec 2028
€81.9m
=
15.8
Forward

Forward EV/EBIT shows whether today’s EV/EBIT still looks high or low once future ebit are taken into account.

Peer Comparison

All Multiples
EV/EBIT
P/E
All Countries
Close
Market Cap EV/EBIT P/E
IT
Ascopiave SpA
MIL:ASC
742.4m EUR 15.2 8.5
US
Atmos Energy Corp
NYSE:ATO
30.9B USD 24.8 24.7
ES
Naturgy Energy Group SA
MAD:NTGY
25B EUR 9.4 12.2
IT
Snam SpA
MIL:SRG
22.3B EUR 19 17.2
HK
Hong Kong and China Gas Co Ltd
HKEX:3
135.1B HKD 21 23.8
JP
Osaka Gas Co Ltd
TSE:9532
2.4T JPY 15.6 12.9
JP
Tokyo Gas Co Ltd
TSE:9531
2.4T JPY 16.4 11.5
IT
Italgas SpA
MIL:IG
10.4B EUR 16.1 15.6
CA
AltaGas Ltd
TSX:ALA
15.4B CAD 18.9 20.4
IN
GAIL (India) Ltd
NSE:GAIL
1T INR 12.2 12
CN
ENN Natural Gas Co Ltd
SSE:600803
64.9B CNY 6.7 13.9
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
IT
Ascopiave SpA
MIL:ASC
Average EV/EBIT: 15.9
15.2
0%
N/A
US
Atmos Energy Corp
NYSE:ATO
24.8
15%
1.7
ES
Naturgy Energy Group SA
MAD:NTGY
9.4
0%
N/A
IT
Snam SpA
MIL:SRG
19
6%
3.2
HK
Hong Kong and China Gas Co Ltd
HKEX:3
21
N/A N/A
JP
Osaka Gas Co Ltd
TSE:9532
15.6
N/A N/A
JP
T
Tokyo Gas Co Ltd
TSE:9531
16.4
N/A N/A
IT
Italgas SpA
MIL:IG
16.1
9%
1.8
CA
AltaGas Ltd
TSX:ALA
18.9
10%
1.9
IN
GAIL (India) Ltd
NSE:GAIL
12.2
1%
12.2
CN
ENN Natural Gas Co Ltd
SSE:600803
6.7
N/A N/A

Market Distribution

Higher than 71% of companies in Italy
Percentile
71th
Based on 760 companies
71th percentile
15.2
Low
0.9 — 7.7
Typical Range
7.7 — 14.9
High
14.9 —
Distribution Statistics
Italy
Min 0.9
30th Percentile 7.7
Median 11.2
70th Percentile 14.9
Max 472.1

Ascopiave SpA
Glance View

Market Cap
742.4m EUR
Industry
Utilities

Ascopiave SpA engages in the natural gas distribution sector. The company is headquartered in Pieve Di Soligo, Treviso. The company went IPO on 2006-12-12. The firm is primarily active in the distribution and sale of natural gas. Ascopiave SpA is also involved in the sale of electric power, heat management, co-generation and generation of electricity from photovoltaic plants. The firm holds concessions and direct contracts for the management of gas distribution services and it operated of distribution network. The firm operates through numerous direct subsidiaries, including Ascotrade Spa, Edigas Esercizio Distribuzione Gas SpA, Blue Meta SpA, AscoEnergy Srl, Amgas Blu Srl, Pasubio Servizi Srl, Sinergie Italiane Srl, ASM DG Srl, Edigas Due Srl and Etraenergia Srl, among others. On February 10, 2014, Ascopiave SpA acquired a 49% stake in Veritas Energia Srl; as a result of the transaction the Company holds 100% in Veritas Energia Srl. The firm is also active in the integrated water services.

ASC Intrinsic Value
3.88 EUR
Undervaluation 11%
Intrinsic Value
Price €3.43
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