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Enav SpA (IT:ENAV)
:ENAV
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Enav SpA (ENAV) AI Stock Analysis

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IT

Enav SpA

(Frankfurt:ENAV)

Rating:73Outperform
Price Target:
€4.50
▲(13.92%Upside)
Enav SpA achieves a solid overall score driven by strong financial performance, indicated by robust profitability and healthy leverage ratios. Technical analysis suggests bullish momentum but cautions due to overbought signals. Valuation metrics offer a balanced view, with an attractive dividend yield supporting the score.

Enav SpA (ENAV) vs. iShares MSCI Italy ETF (EWI)

Enav SpA Business Overview & Revenue Model

Company DescriptionENAV S.p.A. provides air traffic control and management, and other air navigation services in Italy, the rest of Europe, and internationally. It operates through three segments: Air Navigation Services, Maintenance Services, and AIM Software Solutions. The company also offers technical management and maintenance services for air traffic control equipment and systems, as well as for air infrastructure; and develops software solutions for the management of aeronautical information and air traffic, as well as provides related commercial and maintenance services. In addition, it offers air traffic flow management, communication navigation and surveillance, digital aeronautical management, and flight procedure design and validation solutions. Further, the company provides flight inspection, aeronautical consulting, technical and engineering services, meteorology, and training and other services, as well as maintenance services for software solutions, as well as sells software licenses. It serves air navigation service providers, airport authorities, aeronautical agencies, and government and private entities. ENAV S.p.A. was founded in 2001 and is based in Rome, Italy.
How the Company Makes MoneyEnav generates revenue primarily through the provision of air traffic management and control services. The company's key revenue streams include fees charged to airlines for en-route navigation services, which are calculated based on the distance flown by aircraft within controlled airspace, and terminal navigation services, which involve managing airspace around airports. Enav also earns from providing support services, such as maintenance and training, as well as through international collaborations and partnerships with other air navigation service providers. Additionally, the company may engage in consulting and technology services related to air traffic management, further contributing to its earnings.

Enav SpA Financial Statement Overview

Summary
Enav SpA exhibits a strong financial position with consistent revenue growth, robust profitability margins, and healthy leverage ratios. While cash flow has improved significantly, past volatility suggests a need for cautious cash management.
Income Statement
82
Very Positive
Enav SpA has demonstrated a solid growth trajectory with increasing total revenue over the years, showing a 3.71% growth in the latest year. The company maintains healthy margins with a Gross Profit Margin of 41.3% and a Net Profit Margin of 12.6% for the latest period, indicating effective cost management. EBIT and EBITDA margins are also strong at 18.7% and 33.6%, respectively, highlighting operational efficiency.
Balance Sheet
78
Positive
The company's balance sheet is robust with a moderate Debt-to-Equity Ratio of 0.48, indicating a balanced approach to leverage. The Equity Ratio stands at 51.7%, reflecting a solid equity base. ROE is healthy at 10.2%, showing effective use of equity capital. However, total debt has shown a slight increase, which could indicate potential future leverage risks.
Cash Flow
75
Positive
Enav SpA has shown a positive Free Cash Flow growth of 58.63% in the latest year, demonstrating strong cash generation capabilities. The Operating Cash Flow to Net Income Ratio is 2.21, indicating strong cash conversion from earnings. However, historical negative free cash flows and high capital expenditures in earlier periods highlight potential volatility in cash management.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue1.17B999.75M964.01M907.36M800.22M736.70M
Gross Profit423.18M412.88M402.00M136.01M83.48M66.01M
EBITDA243.98M336.25M311.50M283.49M213.41M209.35M
Net Income110.30M125.83M112.92M105.00M78.37M54.28M
Balance Sheet
Total Assets1.94B2.37B2.34B2.42B2.36B2.19B
Cash, Cash Equivalents and Short-Term Investments387.89M356.82M224.88M267.73M225.31M325.89M
Total Debt223.33M589.66M528.08M601.33M667.43M552.61M
Total Liabilities738.21M1.14B1.12B1.21B1.19B1.11B
Stockholders Equity1.20B1.23B1.22B1.21B1.16B1.08B
Cash Flow
Free Cash Flow281.56M158.84M100.14M139.13M-242.78M-264.55M
Operating Cash Flow281.16M277.89M210.62M236.90M-157.15M-173.06M
Investing Cash Flow-103.88M-78.76M-71.60M-70.17M-59.89M-52.25M
Financing Cash Flow-64.19M-62.83M-181.76M-124.51M124.68M92.34M

Enav SpA Technical Analysis

Technical Analysis Sentiment
Positive
Last Price3.95
Price Trends
50DMA
3.86
Positive
100DMA
3.63
Positive
200DMA
3.63
Positive
Market Momentum
MACD
0.02
Negative
RSI
60.54
Neutral
STOCH
73.72
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:ENAV, the sentiment is Positive. The current price of 3.95 is above the 20-day moving average (MA) of 3.86, above the 50-day MA of 3.86, and above the 200-day MA of 3.63, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 60.54 is Neutral, neither overbought nor oversold. The STOCH value of 73.72 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IT:ENAV.

Enav SpA Peers Comparison

Overall Rating
UnderperformOutperform
Sector (67)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
73
Outperform
€2.14B17.0210.29%6.85%3.84%11.36%
67
Neutral
$16.78B17.074.47%3.73%4.76%6.06%
€304.90M12.4211.08%5.70%
DE3SA
* Utilities Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
IT:ENAV
Enav SpA
3.95
0.26
6.92%
GB:0R9D
Aeroporto Guglielmo Marconi di Bologna S.p.A.
8.26
0.00
0.00%
DE:3SA
Toscana Aeroporti S.p.A.

Enav SpA Corporate Events

Ena S.p.A. Expands Board and Approves Stock Options Plan
Jul 1, 2025

Ena S.p.A. has announced significant changes following its Ordinary and Extraordinary Shareholders’ Meeting. The company has expanded its Board of Directors from five to seven members, appointing Dr. Shengzhong Song and Dr. Gabriele Angiolini. Additionally, an incentive plan through stock options has been approved, aimed at directors, employees, managers, and collaborators, with a potential total value of 300,000 euros. The meeting also resolved a paid capital increase to support the stock options plan, with new shares issued at a price between 0.50 and 1.00 euros per share, enhancing the company’s financial structure and aligning with strategic growth initiatives.

The most recent analyst rating on (IT:ENAV) stock is a Buy with a EUR4.95 price target. To see the full list of analyst forecasts on Enav SpA stock, see the IT:ENAV Stock Forecast page.

Ena S.p.A. Reschedules Shareholders’ Meeting Due to Lack of Quorum
Jun 30, 2025

Ena S.p.A. announced that their Ordinary and Extraordinary Shareholders’ Meeting did not reach the required quorum and was unattended on its first call. The meeting is rescheduled for a second call, with shareholders participating through a Designated Representative. Key agenda items include increasing the Board of Directors’ size, approving a stock option plan, and a paid capital increase, which could impact the company’s governance and financial strategies.

The most recent analyst rating on (IT:ENAV) stock is a Buy with a EUR4.95 price target. To see the full list of analyst forecasts on Enav SpA stock, see the IT:ENAV Stock Forecast page.

Ena S.p.A. Completes Reserved Capital Increase, Alters Shareholding Structure
Jun 27, 2025

Ena S.p.A. announced the full subscription of its Reserved Capital Increase, initially resolved on April 30, 2025, amounting to a total of Euro 1,420,000. This capital increase, involving the issuance of new ordinary shares, was reserved for specific investors, including Sinergie Partners S.r.l., which has now exceeded the 10% shareholding threshold. This development signifies a substantial change in shareholdings and reflects the company’s strategic financial maneuvers to enhance its market position.

The most recent analyst rating on (IT:ENAV) stock is a Buy with a EUR4.95 price target. To see the full list of analyst forecasts on Enav SpA stock, see the IT:ENAV Stock Forecast page.

Ena S.p.A. Announces New Director Nominations
Jun 25, 2025

Ena S.p.A. announced that shareholders Sinergie Partners Srl and Ram Srl have nominated Dr. Shengzhong Song and Dr. Gabriele Angiolini as directors for the upcoming shareholders’ meeting. This move could potentially influence the company’s governance and strategic direction, impacting its market positioning and stakeholder interests.

The most recent analyst rating on (IT:ENAV) stock is a Buy with a EUR4.95 price target. To see the full list of analyst forecasts on Enav SpA stock, see the IT:ENAV Stock Forecast page.

Enav S.p.A. Announces Shareholders’ Meeting for Strategic Decisions
Jun 16, 2025

Enav S.p.A. has announced a shareholders’ meeting to be conducted via telecommunication on June 30, 2025, with a second call on July 1, 2025, if necessary. The meeting will address increasing the board of directors from five to seven members and approving a stock option plan for 2025-2028. Additionally, an extraordinary session will discuss a paid capital increase through the issuance of new shares, reserved for the stock option plan beneficiaries. This meeting highlights Enav’s strategic focus on expanding its governance structure and incentivizing its workforce, potentially impacting its market position and shareholder value.

The most recent analyst rating on (IT:ENAV) stock is a Buy with a EUR4.95 price target. To see the full list of analyst forecasts on Enav SpA stock, see the IT:ENAV Stock Forecast page.

Enav SpA Announces Shareholders’ Meeting and Capital Increase Plans
Jun 15, 2025

Enav SpA has announced a Shareholders’ Meeting to be conducted via telecommunication on June 30, 2025, with a potential second call on July 1, 2025. The agenda includes increasing the number of board members, appointing new directors, and approving a stock option plan. Additionally, there will be a paid capital increase through the issuance of new shares, reserved for participants of the stock option plan, aiming to raise €300,000.

The most recent analyst rating on (IT:ENAV) stock is a Buy with a EUR4.95 price target. To see the full list of analyst forecasts on Enav SpA stock, see the IT:ENAV Stock Forecast page.

Enav SpA Expands Operations and Governance with New Subsidiary and Stock Options Plan
Jun 14, 2025

Enav SpA’s Board of Directors has decided to establish a wholly owned subsidiary to manage condominium properties in Milan, aiming to streamline operations and align them with other regions. Additionally, the board proposes to expand the Board of Directors from five to seven members, introduce a Stock Options Plan for directors and employees, and execute a capital increase to support this plan, fostering long-term value creation and stakeholder loyalty.

The most recent analyst rating on (IT:ENAV) stock is a Buy with a EUR4.95 price target. To see the full list of analyst forecasts on Enav SpA stock, see the IT:ENAV Stock Forecast page.

EC Approves Italy’s National Performance Plan for 2025-2029
May 29, 2025

The European Commission has approved Italy’s National Performance Plan for the fourth regulatory period from 2025 to 2029, following a positive review by the Performance Review Body. This approval finalizes the plan, which outlines economic and operational parameters, including performance tariffs for airlines, and aligns with ENAV’s Strategic Plan for 2025-2029.

The most recent analyst rating on (IT:ENAV) stock is a Buy with a EUR4.95 price target. To see the full list of analyst forecasts on Enav SpA stock, see the IT:ENAV Stock Forecast page.

Enav SpA Approves 2024 Financial Statements and Appoints New Auditors
May 28, 2025

Enav SpA’s Shareholders’ Meeting has approved the 2024 financial statements, highlighting a consolidated revenue increase of 3.7% to 1.037 billion euros and a net profit rise of 11.5% to 125.7 million euros. The meeting also approved a dividend of 0.27 euros per share and appointed a new Board of Statutory Auditors for the 2025-2027 period, reflecting the company’s strong financial performance and strategic governance decisions.

The most recent analyst rating on (IT:ENAV) stock is a Buy with a EUR4.95 price target. To see the full list of analyst forecasts on Enav SpA stock, see the IT:ENAV Stock Forecast page.

ENAV Reports Record Air Traffic Growth Amid New Regulatory Challenges
May 14, 2025

ENAV S.p.A. reported a record increase in air traffic over Italy for the first quarter of 2025, with route and terminal traffic rising significantly compared to the previous year. Despite a decrease in consolidated revenues due to the start of a new regulatory period, the company demonstrated strong cash generation and maintained operational efficiency. The new regulatory framework, which affects revenue balance mechanisms, marks a strategic shift for ENAV, focusing on innovation and international competitiveness.

The most recent analyst rating on (IT:ENAV) stock is a Buy with a EUR4.95 price target. To see the full list of analyst forecasts on Enav SpA stock, see the IT:ENAV Stock Forecast page.

ENAV S.p.A. Announces Candidates for Board of Statutory Auditors Renewal
May 7, 2025

ENAV S.p.A. has announced the publication of two lists of candidates for the renewal of its Board of Statutory Auditors, ahead of its Shareholders’ Meeting scheduled for May 28, 2025. The lists were submitted by the Ministry of Economy and Finance, which holds a significant stake in the company, and a group of asset management companies and institutional investors. This renewal process is crucial for maintaining transparency and governance within the company, potentially impacting its operational oversight and stakeholder confidence.

Ena S.p.A. Approves 2024 Financials and Strategic Capital Increase
Apr 30, 2025

Ena S.p.A. held its Ordinary and Extraordinary Shareholders’ Meeting, approving the financial statements for the year ending December 31, 2024, and addressing a financial loss of 2,699,733 euros by using retained earnings. Additionally, the meeting approved a capital increase of 1,420,000 euros through new shares, reserved for specific investors, and delegated authority to the Board for further capital increases to support strategic partnerships and company development.

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.Date of analysis: Jun 05, 2025