Naturgy Energy Group, S.A. (ES:NTGY)
BME:NTGY
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Naturgy Energy Group, S.A.
(BME:NTGY)
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Rating:72Outperform
Price Target:
€28.00
▲(7.03% Upside)
Action:UpgradedDate:03/04/26
The score is driven primarily by attractive valuation (low P/E and high dividend yield) and steady profitability. Offsetting these positives are elevated leverage and a multi-year pattern of revenue contraction, while technicals are weaker with the price below key moving averages.
Positive Factors
Diversified regulated business model
A diversified mix of generation, distribution and retail gas/electricity sales plus renewables and project partnerships provides durable, regulated cash flows. This structural diversity reduces reliance on single-market swings and supports steady revenues as the company transitions toward low-carbon assets.
Negative Factors
Elevated leverage
Meaningful debt relative to equity increases interest-rate and refinancing sensitivity for a capital-intensive utility. Elevated leverage constrains financial flexibility for growth or acquisitions, raises refinancing risk if rates rise, and heightens the need for consistent cash generation to avoid stress.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified regulated business model
A diversified mix of generation, distribution and retail gas/electricity sales plus renewables and project partnerships provides durable, regulated cash flows. This structural diversity reduces reliance on single-market swings and supports steady revenues as the company transitions toward low-carbon assets.
Read all positive factors
Naturgy Energy Group, S.A. (NTGY) vs. iShares MSCI Spain ETF (EWP)
Market Cap
€24.86B
Dividend Yield6.66%
Average Volume (3M)770.68K
Price to Earnings (P/E)12.4
Beta (1Y)0.46
Revenue Growth2.66%
EPS Growth1.26%
CountryES
Employees6,594
SectorGeneral
Sector StrengthN/A
IndustryRegulated Gas
Share Statistics
EPS (TTM)0.36
Shares Outstanding969,613,830
10 Day Avg. Volume1,104,190
30 Day Avg. Volume770,683
Financial Highlights & Ratios
PEG Ratio2.76
Price to Book (P/B)2.69
Price to Sales (P/S)1.29
P/FCF Ratio10.58
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€27.54Price Target Upside5.28% Upside
Rating ConsensusHold
Number of Analyst Covering5
EPS Forecast (FY)2.03
Revenue Forecast (FY)€19.10B
Naturgy Energy Group, S.A. Business Overview & Revenue Model
Company Description
Naturgy Energy Group, S.A., together with its subsidiaries, engages in the supply, liquefaction, regasification, transport, storage, distribution, and sale of natural gas. It operates through Energy and Network Management, Renewables and New Busin...
How the Company Makes Money
Naturgy generates revenue through multiple key streams, primarily from the sale of electricity and natural gas to residential, commercial, and industrial customers. The company operates a diversified portfolio of energy generation assets, includin...
Naturgy Energy Group, S.A. Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
62
Positive
Cash Flow
67
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 19.45B | 19.27B | 22.62B | 33.97B | 22.15B |
| Gross Profit | 5.36B | 7.70B | 7.51B | 6.77B | 5.62B |
| EBITDA | 5.20B | 5.22B | 5.19B | 4.63B | 3.74B |
| Net Income | 2.02B | 1.90B | 1.99B | 1.65B | 1.21B |
Balance Sheet | |||||
| Total Assets | 39.10B | 40.84B | 37.89B | 40.39B | 38.25B |
| Cash, Cash Equivalents and Short-Term Investments | 4.66B | 6.10B | 4.12B | 4.39B | 4.36B |
| Total Debt | 17.88B | 18.19B | 15.96B | 16.26B | 16.69B |
| Total Liabilities | 27.73B | 29.18B | 25.96B | 30.41B | 29.38B |
| Stockholders Equity | 9.34B | 9.48B | 9.45B | 7.57B | 5.89B |
Cash Flow | |||||
| Free Cash Flow | 2.38B | 1.79B | 2.43B | 2.16B | -203.00M |
| Operating Cash Flow | 4.53B | 3.99B | 4.86B | 2.16B | 1.00B |
| Investing Cash Flow | -1.89B | -1.82B | -2.74B | 1.16B | 1.90B |
| Financing Cash Flow | -3.67B | -239.00M | -2.26B | -2.54B | -2.85B |
Naturgy Energy Group, S.A. Technical Analysis
Positive
26.16
Price Trends
25.45
Positive
25.49
Positive
25.59
Positive
Market Momentum
0.24
Negative
58.47
Neutral
77.19
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ES:NTGY, the sentiment is Positive. The current price of 26.16 is above the 20-day moving average (MA) of 25.33, above the 50-day MA of 25.45, and above the 200-day MA of 25.59, indicating a bullish trend. The MACD of 0.24 indicates Negative momentum. The RSI at 58.47 is Neutral, neither overbought nor oversold. The STOCH value of 77.19 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ES:NTGY.
Naturgy Energy Group, S.A. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | €24.86B | 12.42 | 24.33% | 6.66% | 2.66% | 1.26% | |
66 Neutral | €40.00B | 14.75 | 26.20% | 4.32% | -2.54% | 103.14% | |
62 Neutral | €135.46B | 31.54 | 12.54% | 2.92% | 0.50% | -19.06% | |
62 Neutral | €8.11B | 16.24 | 8.88% | 4.27% | -23.15% | -39.13% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | €4.46B | 179.64 | 11.78% | 7.01% | 5.35% | ― | |
52 Neutral | €7.09B | 11.10 | 12.80% | 2.02% | 2.05% | 307.60% |
* General Sector Average
ES:NTGY
Naturgy Energy Group, S.A.
25.88
3.57
16.02%
ES:ENG
Enagas SA
17.06
5.32
45.29%
ES:ELE
Endesa SA
37.78
15.54
69.87%
ES:IBE
Iberdrola
20.28
6.60
48.19%
ES:RED
Redeia Corporación
15.05
-2.12
-12.35%
ES:ANE
Corporacion Acciona Energias Renovables SA
21.84
7.35
50.71%
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.