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Enagas SA
(BME:ENG)
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Rating:60Neutral
Price Target:
€18.50
▲(5.23% Upside)
Action:Reiterated
Date:07/27/26
Overall score is held back primarily by weakened TTM cash flow conversion and elevated/rising leverage, despite decent margins. Support comes from a strong technical uptrend (price above key moving averages with positive MACD) and a solid dividend yield, while the P/E around ~21 limits valuation upside.
Positive Factors
Regulated cash flows
Enagás operates as a regulated transmission system operator, so a large portion of revenue is tariff-driven and contractually defined. That provides predictable, long-dated cash flow visibility and reduces commodity exposure, supporting durable earnings stability and planning over 2–6 months and beyond.
Negative Factors
Rising leverage
Meaningful and increasing leverage heightens sensitivity to interest rates and refinancing risk for a capital-intensive utility. Elevated debt limits flexibility for discretionary investments, dividend support, or buffering against regulatory setbacks, pressuring resilience if cash flow weakens.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulated cash flows
Enagás operates as a regulated transmission system operator, so a large portion of revenue is tariff-driven and contractually defined. That provides predictable, long-dated cash flow visibility and reduces commodity exposure, supporting durable earnings stability and planning over 2–6 months and beyond.
Read all positive factors
Enagas SA (ENG) vs. iShares MSCI Spain ETF (EWP)
Market Cap
€4.37B
Dividend Yield5.97%
Average Volume (3M)810.20K
Price to Earnings (P/E)20.0
Beta (1Y)0.19
Revenue Growth3.44%
EPS Growth156.60%
CountryES
Employees1,408
SectorGeneral
Sector StrengthN/A
IndustryRegulated Gas
Share Statistics
EPS (TTM)0.84
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
€16.00Price Target Upside-8.99% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering1
EPS Forecast (FY)0.91
Revenue Forecast (FY)€831.97M
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
58
Neutral
Balance Sheet
55
Neutral
Cash Flow
42
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 940.85M | 960.40M | 905.55M | 907.57M | 957.10M | 975.69M |
| Gross Profit | 178.57M | 361.52M | 846.18M | 851.63M | 905.45M | 926.63M |
| EBITDA | 554.73M | 508.85M | 94.27M | 810.84M | 885.63M | 859.11M |
| Net Income | 218.47M | 339.11M | -299.31M | 342.53M | 375.77M | 403.83M |
Balance Sheet | ||||||
| Total Assets | 6.73B | 6.82B | 7.50B | 8.51B | 9.40B | 9.87B |
| Cash, Cash Equivalents and Short-Term Investments | 719.61M | 745.00M | 1.42B | 857.55M | 1.39B | 1.46B |
| Total Debt | 3.44B | 2.82B | 3.31B | 3.81B | 4.43B | 5.26B |
| Total Liabilities | 4.41B | 4.51B | 5.10B | 5.51B | 6.18B | 6.77B |
| Stockholders Equity | 2.31B | 2.30B | 2.38B | 2.98B | 3.20B | 3.09B |
Cash Flow | ||||||
| Free Cash Flow | 31.30M | 94.42M | 357.10M | 411.87M | 635.25M | 510.08M |
| Operating Cash Flow | 164.55M | 212.54M | 454.99M | 568.84M | 726.03M | 579.93M |
| Investing Cash Flow | 346.66M | 88.78M | 930.98M | -81.83M | 669.84M | 100.58M |
| Financing Cash Flow | -853.93M | -816.60M | -962.57M | -990.16M | -1.52B | -102.95M |
Enagas SA Technical Analysis
Neutral
17.58
Price Trends
17.01
Negative
16.66
Positive
15.14
Positive
Market Momentum
-0.06
Positive
43.89
Neutral
10.00
Positive
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 17.58 is above the 20-day moving average (MA) of 17.01, above the 50-day MA of 17.01, and above the 200-day MA of 15.14, indicating a neutral trend. The MACD of -0.06 indicates Positive momentum. The RSI at 43.89 is Neutral, neither overbought nor oversold. The STOCH value of 10.00 is Positive, 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 |
|---|---|---|---|---|---|---|---|
71 Outperform | €42.66B | 16.50 | 31.00% | 3.87% | -1.29% | 26.14% | |
69 Neutral | €27.80B | 13.15 | 23.71% | 5.95% | ― | ― | |
69 Neutral | €28.92B | 8.43 | 14.10% | 4.07% | 10.40% | 396.76% | |
66 Neutral | €8.26B | 12.98 | 11.66% | 5.09% | 14.82% | 35.60% | |
60 Neutral | €4.37B | 19.99 | 9.55% | 5.69% | 3.44% | 156.60% | |
60 Neutral | €135.78B | 19.07 | 13.55% | 3.23% | 0.95% | 33.17% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
ES:ENG
Enagas SA
16.76
4.31
34.61%
ES:ELE
Endesa SA
41.57
16.55
66.11%
ES:NTGY
Naturgy Energy Group, S.A.
28.94
3.45
13.54%
ES:IBE
Iberdrola
20.60
5.14
33.26%
ES:RED
Redeia Corporación
15.32
-0.25
-1.61%
ES:REP
Repsol
26.12
13.35
104.53%
Enagas SA Corporate Events
Enagas boosts LNG control and expands in France with Teréga stake
Jul 23, 2026
Enagas SA has moved to consolidate control of its LNG infrastructure by agreeing to acquire a 20% stake in the Saggas regasification plant in Sagunto from Osaka Gas for €31 million, raising its ownership to 92.5% while OQ retains 7.5%. The r...
Enagás Details Indra-Linked Related-Party Deals Approved Under Governance Safeguards
Jul 23, 2026
Enagás has disclosed a series of related-party transactions with companies in the Indra Sistemas group, which is considered a related party due to their common shareholder SEPI holding stakes and board representation in both firms. The transa...
Enagás Board Certifies True and Fair View in 1H 2026 Results
Jul 23, 2026
Enagás, S.A., the Madrid-based gas transmission and systems operator, reported its condensed half-year financial statements for the first half of 2026, affirming compliance with applicable accounting principles and regulatory disclosure stand...
Enagás Sets Date for First-Half 2026 Results and Investor Call
Jul 14, 2026
Enagás SA, a leading operator of Spain’s natural gas transmission network, provides infrastructure and system management services that are central to the country’s energy supply. The company’s performance offers an important...
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 ...
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.