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Enagas SA
(BME:ENG)
Select Model
Select Model
Rating:59Neutral
Price Target:
€17.50
▲(6.58% Upside)
Action:Reiterated
Date:07/11/26
The score is held back primarily by weakened TTM cash generation and earnings volatility, despite acceptable average profitability. Technical signals are broadly neutral, while valuation is a relative positive due to the moderate P/E and attractive dividend yield.
Positive Factors
Regulated business model with tariff-based revenues
Enagás’s core revenues are tariff‑based and determined by regulation rather than commodity prices, producing predictable, contractable cash flows. That structural model reduces commodity cyclicality, supports multi‑year investment recovery and enables reliably planning capex and service obligations.
Negative Factors
Material recent deterioration in cash generation
A severe TTM decline in operating cash flow and a ~76% drop in free cash flow materially weakens internal funding for capex, debt service and distributions. For a capital‑intensive transmission operator, sustained cash compression constrains strategic flexibility and raises funding risk until normalized.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulated business model with tariff-based revenues
Enagás’s core revenues are tariff‑based and determined by regulation rather than commodity prices, producing predictable, contractable cash flows. That structural model reduces commodity cyclicality, supports multi‑year investment recovery and enables reliably planning capex and service obligations.
Read all positive factors
Enagas SA (ENG) vs. iShares MSCI Spain ETF (EWP)
Market Cap
€4.40B
Dividend Yield7.01%
Average Volume (3M)810.20K
Price to Earnings (P/E)16.9
Beta (1Y)0.16
Revenue Growth9.22%
EPS GrowthN/A
CountryES
Employees1,395
SectorGeneral
Sector StrengthN/A
IndustryRegulated Gas
Share Statistics
EPS (TTM)1.00
Shares Outstanding261,990,080
10 Day Avg. Volume743,396
30 Day Avg. Volume810,196
Financial Highlights & Ratios
PEG Ratio-0.05
Price to Book (P/B)1.50
Price to Sales (P/S)3.60
P/FCF Ratio36.65
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€17.23Price Target Upside4.95% Upside
Rating ConsensusHold
Number of Analyst Covering3
EPS Forecast (FY)0.91
Revenue Forecast (FY)€835.67M
Enagas SA Business Overview & Revenue Model
Company Description
Enagás S.A., established in 1972 and headquartered in Madrid, Spain, is a prominent energy company focused on the creation, operation, and maintenance of gas infrastructure across Spain and internationally. Its operations are strategically divided...
How the Company Makes Money
Enagás primarily makes money by operating regulated gas infrastructure, where revenues are largely determined by regulatory frameworks rather than commodity prices. Its key revenue streams include: (1) Regulated transmission revenue: income earned...
Enagas SA Financial Statement Overview
Summary
Income Statement
64
Positive
Balance Sheet
58
Neutral
Cash Flow
45
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 964.20M | 960.40M | 905.55M | 907.57M | 957.10M | 975.69M |
| Gross Profit | 383.80M | 361.52M | 846.18M | 851.63M | 905.45M | 926.63M |
| EBITDA | 709.81M | 508.85M | 94.27M | 810.84M | 885.63M | 859.11M |
| Net Income | 259.30M | 339.11M | -299.31M | 342.53M | 375.77M | 403.83M |
Balance Sheet | ||||||
| Total Assets | 6.70B | 6.82B | 7.50B | 8.51B | 9.40B | 9.87B |
| Cash, Cash Equivalents and Short-Term Investments | 573.30M | 745.00M | 1.42B | 857.55M | 1.39B | 1.46B |
| Total Debt | 2.65B | 2.82B | 3.31B | 3.81B | 4.43B | 5.26B |
| Total Liabilities | 4.46B | 4.51B | 5.10B | 5.51B | 6.18B | 6.77B |
| Stockholders Equity | 2.22B | 2.30B | 2.38B | 2.98B | 3.20B | 3.09B |
Cash Flow | ||||||
| Free Cash Flow | 22.72M | 94.42M | 357.10M | 411.87M | 635.25M | 510.08M |
| Operating Cash Flow | 140.84M | 212.54M | 454.99M | 568.84M | 726.03M | 579.93M |
| Investing Cash Flow | 320.48M | 88.78M | 930.98M | -81.83M | 669.84M | 100.58M |
| Financing Cash Flow | -737.60M | -816.60M | -962.57M | -990.16M | -1.52B | -102.95M |
Enagas SA Technical Analysis
Neutral
16.42
Price Trends
16.75
Positive
16.08
Positive
14.69
Positive
Market Momentum
<0.01
Positive
47.37
Neutral
34.20
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ES:ENG, the sentiment is Neutral. The current price of 16.42 is below the 20-day moving average (MA) of 17.05, below the 50-day MA of 16.75, and above the 200-day MA of 14.69, indicating a neutral trend. The MACD of <0.01 indicates Positive momentum. The RSI at 47.37 is Neutral, neither overbought nor oversold. The STOCH value of 34.20 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for ES:ENG.
Enagas SA Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | €26.93B | 13.61 | 23.65% | 6.66% | 0.98% | 9.89% | |
69 Neutral | €40.12B | 17.48 | 27.50% | 4.32% | -1.55% | 9.15% | |
68 Neutral | €25.30B | 10.56 | 10.51% | 6.18% | -0.48% | 124.35% | |
66 Neutral | €8.30B | 13.27 | 12.00% | 4.27% | 4.10% | 37.07% | |
62 Neutral | €135.78B | 22.47 | 11.79% | 2.92% | -0.50% | 19.02% | |
59 Neutral | €4.40B | 16.87 | 11.42% | 7.01% | 9.22% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
ES:ENG
Enagas SA
16.84
4.08
32.03%
ES:ELE
Endesa SA
38.99
13.88
55.27%
ES:NTGY
Naturgy Energy Group, S.A.
28.04
2.31
8.96%
ES:IBE
Iberdrola
20.90
5.61
36.70%
ES:RED
Redeia Corporación
15.39
-1.34
-8.01%
ES:REP
Repsol
23.12
10.81
87.86%
Enagas SA Corporate Events
Enagás Confirms July Payout to Complete €1-per-Share Dividend for 2025
Jun 25, 2026
Enagás will distribute a supplementary dividend of €0.60 gross per share on 2 July 2026, following approval at its March General Shareholders’ Meeting. The payment will be made to shareholders of record on 1 July, with the shares ...
Enagás Sets 21 April Date to Publish First-Quarter 2026 Results
Apr 16, 2026
Enagás said it will release its first-quarter 2026 financial results on 21 April 2026 before the market opens, with the full set of documents to be made available via the Spanish securities regulator CNMV and the company’s website. The ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.