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/EBITDA

8.7
Current
4%
More Expensive
vs 3-y median of 8.3

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

EV/EBITDA
8.7
=
Enterprise Value
€1.3B
/
EBITDA
€145.1m

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

EV/EBITDA
8.7
=
Enterprise Value
€1.3B
/
EBITDA
€145.1m

Valuation Scenarios

Ascopiave SpA is trading above its 3-year average

If EV/EBITDA returns to its 3-Year Average (8.3), the stock would be worth €3.3 (4% downside from current price).

Statistics
Positive Scenarios
1/4
Maximum Downside
-34%
Maximum Upside
+8%
Average Downside
11%
Scenario EV/EBITDA Value Implied Price Upside/Downside
Current Multiple 8.7 €3.43
0%
3-Year Average 8.3 €3.3
-4%
5-Year Average 9.3 €3.7
+8%
Industry Average 5.7 €2.27
-34%
Country Average 7.6 €3
-13%

Forward EV/EBITDA
Today’s price vs future ebitda

Today's Enterprise Value EBITDA Forward EV/EBITDA
€1.3B
/
Jan 2026
€145.1m
=
8.7
Current
€1.3B
/
Dec 2026
€153.3m
=
8.5
Forward
€1.3B
/
Dec 2027
€162.1m
=
8
Forward
€1.3B
/
Dec 2028
€170.5m
=
7.6
Forward

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

Peer Comparison

All Multiples
EV/EBITDA
P/E
All Countries
Close
Market Cap EV/EBITDA P/E
IT
Ascopiave SpA
MIL:ASC
742.4m EUR 8.7 8.5
US
Atmos Energy Corp
NYSE:ATO
30.9B USD 17 24.7
ES
Naturgy Energy Group SA
MAD:NTGY
25B EUR 6.5 12.2
IT
Snam SpA
MIL:SRG
22.3B EUR 11.9 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 9.4 12.9
JP
Tokyo Gas Co Ltd
TSE:9531
2.4T JPY 6.9 11.5
IT
Italgas SpA
MIL:IG
10.4B EUR 10.4 15.6
CA
AltaGas Ltd
TSX:ALA
15.4B CAD 13.5 20.4
IN
GAIL (India) Ltd
NSE:GAIL
1T INR 8.6 12
CN
ENN Natural Gas Co Ltd
SSE:600803
64.9B CNY 6.7 13.9
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
IT
Ascopiave SpA
MIL:ASC
Average EV/EBITDA: 11
8.7
6%
1.4
US
Atmos Energy Corp
NYSE:ATO
17
14%
1.2
ES
Naturgy Energy Group SA
MAD:NTGY
6.5
2%
3.3
IT
Snam SpA
MIL:SRG
11.9
5%
2.4
HK
Hong Kong and China Gas Co Ltd
HKEX:3
21
20%
1.1
JP
Osaka Gas Co Ltd
TSE:9532
9.4
3%
3.1
JP
T
Tokyo Gas Co Ltd
TSE:9531
6.9
5%
1.4
IT
Italgas SpA
MIL:IG
10.4
9%
1.2
CA
AltaGas Ltd
TSX:ALA
13.5
9%
1.5
IN
GAIL (India) Ltd
NSE:GAIL
8.6
2%
4.3
CN
ENN Natural Gas Co Ltd
SSE:600803
6.7
21%
0.3

Market Distribution

In line with most companies in Italy
Percentile
56th
Based on 875 companies
56th percentile
8.7
Low
0.7 — 5.2
Typical Range
5.2 — 10.8
High
10.8 —
Distribution Statistics
Italy
Min 0.7
30th Percentile 5.2
Median 7.6
70th Percentile 10.8
Max 3 328.6

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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