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ENI S.p.A.
(ENI)
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Rating:65Neutral
Price Target:
€25.00
▲(8.89% Upside)
Action:Reiterated
Date:07/30/26
The score is driven primarily by steady but weakening fundamentals: improving leverage and positive cash generation are offset by sharp gross-margin compression and weaker cash conversion. Technically, the stock’s price sits above major moving averages, supporting the score. Valuation is a modest headwind due to the higher P/E, partially balanced by the dividend yield.
Positive Factors
Integrated energy business model
A diversified value-chain presence (upstream, midstream, downstream, trading and low‑carbon activities) provides structural resilience to commodity swings, creates internal supply synergies and multiple cash sources, supporting stable cash generation and long-term strategic flexibility.
Negative Factors
Sharp gross-margin compression
A steep drop in gross margin indicates weaker realizations or higher input costs that compress upstream and downstream profitability. Sustained margin pressure limits internal cash flow generation and reduces the buffer available for capex, dividends and transition spending.
Read all positive and negative factors
Positive Factors
Negative Factors
Integrated energy business model
A diversified value-chain presence (upstream, midstream, downstream, trading and low‑carbon activities) provides structural resilience to commodity swings, creates internal supply synergies and multiple cash sources, supporting stable cash generation and long-term strategic flexibility.
Read all positive factors
ENI S.p.A. (ENI) vs. iShares MSCI Italy ETF (EWI)
Market Cap
€70.14B
Dividend Yield4.38%
Average Volume (3M)10.46M
Price to Earnings (P/E)13.5
Beta (1Y)0.29
Revenue Growth-3.05%
EPS Growth122.49%
CountryIT
Employees32,349
SectorGeneral
Sector StrengthN/A
IndustryOil & Gas Integrated
Share Statistics
EPS (TTM)1.77
Shares Outstanding3,027,982,200
10 Day Avg. Volume11,265,495
30 Day Avg. Volume10,462,038
Financial Highlights & Ratios
PEG Ratio2.12
Price to Book (P/B)1.14
Price to Sales (P/S)0.59
P/FCF Ratio10.55
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€26.20Price Target Upside14.11% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering10
EPS Forecast (FY)2.6
Revenue Forecast (FY)€96.58B
ENI S.p.A. Business Overview & Revenue Model
Company Description
Eni S.p.A. is an energy company primarily focused on the exploration, development, and production of crude oil and natural gas. Its operations are organized into several key divisions: Exploration & Production, which handles the discovery, develop...
How the Company Makes Money
Eni primarily makes money by selling energy and energy-related products and services across several interconnected business lines. (1) Upstream (exploration & production): Eni generates revenue from producing and selling crude oil, natural gas, an...
ENI S.p.A. Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
68
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 82.88B | 82.15B | 88.80B | 93.72B | 132.51B | 76.58B |
| Gross Profit | 4.66B | 8.43B | 11.54B | 13.47B | 26.92B | 14.85B |
| EBITDA | 15.26B | 14.63B | 15.63B | 19.09B | 30.36B | 18.77B |
| Net Income | 5.28B | 2.61B | 2.62B | 4.77B | 13.89B | 5.82B |
Balance Sheet | ||||||
| Total Assets | 147.00B | 139.20B | 150.08B | 146.37B | 156.35B | 143.60B |
| Cash, Cash Equivalents and Short-Term Investments | 15.09B | 15.09B | 14.98B | 16.98B | 18.41B | 14.55B |
| Total Debt | 36.99B | 39.20B | 41.84B | 39.14B | 36.87B | 38.13B |
| Total Liabilities | 90.08B | 91.41B | 99.43B | 97.80B | 106.12B | 104.08B |
| Stockholders Equity | 52.00B | 42.94B | 47.78B | 48.10B | 49.76B | 39.44B |
Cash Flow | ||||||
| Free Cash Flow | 3.76B | 4.63B | 5.09B | 6.38B | 9.76B | 7.91B |
| Operating Cash Flow | 13.23B | 13.33B | 13.09B | 15.12B | 17.46B | 12.86B |
| Investing Cash Flow | -10.55B | -8.59B | -9.23B | -9.38B | -6.93B | -12.02B |
| Financing Cash Flow | -3.32B | -4.30B | -5.97B | -5.65B | -8.63B | -2.04B |
ENI S.p.A. Technical Analysis
Positive
22.96
Price Trends
22.03
Positive
22.56
Positive
19.47
Positive
Market Momentum
0.21
Negative
65.14
Neutral
95.36
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:ENI, the sentiment is Positive. The current price of 22.96 is above the 20-day moving average (MA) of 21.94, above the 50-day MA of 22.03, and above the 200-day MA of 19.47, indicating a bullish trend. The MACD of 0.21 indicates Negative momentum. The RSI at 65.14 is Neutral, neither overbought nor oversold. The STOCH value of 95.36 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IT:ENI.
ENI S.p.A. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | €3.24B | 10.92 | 8.86% | 5.36% | -8.15% | -2.93% | |
65 Neutral | €70.14B | 13.55 | 5.25% | 4.57% | -3.05% | 122.49% | |
62 Neutral | €99.52B | 27.22 | 12.65% | 3.71% | -3.07% | -42.04% | |
58 Neutral | €5.55B | 11.85 | 11.63% | 4.08% | -11.37% | -8.40% | |
56 Neutral | €7.11B | 10.46 | 12.19% | 4.42% | 13.73% | -15.88% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IT:ENI
ENI S.p.A.
23.98
10.12
72.99%
IT:A2A
A2A SpA
2.27
0.21
10.04%
IT:EDNR
Edison Spa
1.91
-0.18
-8.63%
IT:ENEL
Enel S.p.A.
9.80
2.33
31.25%
IT:HER
HERA S.p.A.
3.79
0.19
5.36%
IT:IRE
Iren S.p.A.
2.52
0.10
4.21%
ENI S.p.A. Corporate Events
Eni Director Sells 4,000 Shares in Mandatory Market Disclosure
Jul 29, 2026
Eni has disclosed a management transaction involving ordinary shares carried out by Hannelore Rocchio, Director Power Generation Marketing and a person performing management functions at the company. The filing, made under EU market‑abuse r...
Eni Publishes H1 2026 Results Presentation for Investors
Jul 29, 2026
Eni has announced that the presentation accompanying its conference call on first‑half 2026 results is being made available to the public. The material can be accessed through the investor presentations section of the company’s website...
Eni Advances €1 Billion Share Buyback, Lifts Treasury Stake to 4.31%
Jul 29, 2026
Eni has continued the second tranche of its share buyback programme, purchasing 4,489,421 treasury shares on Euronext Milan between 20 and 24 July 2026, equal to 0.15% of its share capital, at a weighted average price of €22.2746 per share f...
Eni Board Clears First €0.27 Tranche of 2026 Shareholder Payout
Jul 28, 2026
Eni’s board has approved the first tranche of the 2026 shareholder distribution, authorising a payment of €0.27 per share from available reserves. The payout, corresponding to coupon 55, forms part of a planned total annual distributio...
Eni Advances €860 Million Share Buyback, Lifts Treasury Stock to 4.16% of Capital
Jul 22, 2026
Eni S.p.A. has continued its share buyback strategy, purchasing 4,655,842 treasury shares on Euronext Milan between 13 and 17 July 2026, equal to 0.15% of its share capital, at a weighted average price of €21.4784 for a total outlay of about...
Eni ramps up shareholder returns with ongoing €860 million buyback
Jul 22, 2026
Eni has continued the second tranche of its share buyback programme, repurchasing 4,655,842 shares on Euronext Milan between 13 and 17 July 2026, equal to 0.15% of its share capital, for about €100 million at a weighted average price of S...
Eni Expands Share Buyback, Lifts Treasury Stake to 4.01%
Jul 15, 2026
Eni has continued the second tranche of its shareholder-authorised share buyback, repurchasing 4,804,092 treasury shares on Euronext Milan between 6 and 10 July 2026. The shares, equal to 0.16% of its share capital, were bought at an average price...
Eni Accelerates Share Buyback, Lifting Treasury Holdings to 3.85% of Capital
Jul 8, 2026
Eni has continued its shareholder remuneration strategy with a new tranche of share buybacks on Euronext Milan. Between 29 June and 3 July 2026, the group repurchased 4,897,905 treasury shares, equal to 0.16% of its share capital, at a weighted av...
Eni Expands Share Buyback, Lifts Treasury Stake to 3.69%
Jul 1, 2026
Eni has continued its shareholder remuneration strategy by repurchasing 4,765,108 shares on Euronext Milan between 22 and 26 June 2026, equal to 0.16% of its share capital, at a weighted average price of about €20.99 per share for a total of...
Eni Publishes 2025 Report on Payments to Governments
Jun 25, 2026
Eni has made its 2025 Report on payments to governments available to the public, providing access at its Rome headquarters and through designated sections of its corporate website. The document is also stored on the Consob‑authorized “...
Eni Makes English Corporate Governance Documents Publicly Accessible
Jun 25, 2026
Eni has announced that English-language corporate governance documentation, originally published on 6 May 2026, is now publicly available through its website in the Publications/Corporate Governance section and via the Consob-authorized centralize...
Eni Raises Treasury Stake to 3.53% as Buyback Passes €450 Million
Jun 24, 2026
Eni has continued the second tranche of its share buyback programme, repurchasing 4,583,344 shares on Euronext Milan between 15 and 19 June 2026. The purchases, worth about €100 million at an average price of €21.8181, represent 0.15% ...
Eni Expands 2026 Buyback, Lifts Treasury Stake to 3.38%
Jun 17, 2026
Eni has continued executing the second tranche of its share buyback programme, repurchasing 4,262,491 shares on Euronext Milan between 8 and 12 June 2026 at an average price of €23.4605, for a total consideration of about €100 million....
Eni Accelerates 2026 Buyback, Lifts Treasury Stake Above 3%
Jun 10, 2026
Eni has continued executing the second tranche of its 2026 share buyback program, repurchasing 4,311,291 shares on Euronext Milan between 1 and 5 June at a weighted average price of €23.1949, for a total of about €100 million. The init...
Eni Director Emma Marcegaglia Reports €300,000 Purchase of Company Debt
Jun 9, 2026
Eni has disclosed a transaction by board member Emma Marcegaglia, who purchased €300,000 in Eni debt securities identified by code XS3262549754 at a price of 98.759% on the MOTX market. The trade, carried out on 8 June 2026, is reported unde...
Eni Reports May 2026 Share Purchases by Natixis on Euronext Milan
Jun 4, 2026
Eni disclosed a series of transactions in its shares carried out on the Euronext Milan market during May 2026 by Natixis, a French financial institution classified under an “other engagement” relationship. The trades involved the purch...
Eni Expands Share Buyback, Treasury Stock Rises Above 3% of Capital
Jun 3, 2026
Eni has continued the second tranche of its share buyback programme, repurchasing 1,771,356 shares on Euronext Milan between 28 and 29 May 2026 for about €40 million at an average price of €22.5816 per share. Since the programme’...
Eni Completes First 2026 Buyback Tranche and Launches Larger Capital Return Phase
May 27, 2026
Eni has completed the first tranche of its 2026 share buyback program, acquiring 3,363,076 shares on Euronext Milan between 19 and 22 May for about €79.9 million to service its 2026‑2028 Long‑Term Incentive Plan. Since the start ...
Eni Publishes Minutes of May 2026 Shareholders’ Meeting
May 26, 2026
Eni has announced that the minutes of its Shareholders’ Meeting held on 6 May 2026 are now publicly available in Italian. The documents can be consulted at the company’s registered office in Rome, on Eni’s corporate website in th...
Eni Buys Back €20 Million in Shares for Long‑Term Incentive Plan
May 13, 2026
Eni has repurchased 875,813 of its own shares on Euronext Milan, equal to about 0.03% of its share capital, at a weighted average price of €22.8359 per share for a total outlay just under €20 million. The transaction is part of the fir...
Eni Raises $3 Billion in Strongly Demanded U.S. Dollar Bond Sale
May 11, 2026
Eni has returned to the U.S. dollar bond market with the successful placement of two fixed-rate issues totaling 3 billion dollars, split equally between 10-year and 30-year maturities. Investor demand was robust, with total orders reaching about 1...
Eni to Issue Long-Dated Dollar Bonds for Institutional Investors Only
May 11, 2026
Eni plans to place two new fixed-rate US dollar bonds with maturities of 10 and 30 years, targeting only institutional investors and professional clients in line with European and UK product governance rules. The proceeds are intended for general ...
Eni Shareholders Back €4 Billion Buyback, New Board and Rich Payout Plan
May 8, 2026
Eni’s shareholders approved the 2025 statutory financial statements showing net profit of about €4.43 billion, which will be fully allocated to available reserves rather than distributed as a traditional dividend. They also renewed the...
Eni Confirms CEO Descalzi and Strengthens Board Governance Structure
May 7, 2026
Eni’s Board of Directors has confirmed Claudio Descalzi as Chief Executive Officer and General Manager, granting him broad management powers while retaining certain non-delegable responsibilities. The Board also reaffirmed Chair Giuseppina D...
Eni Shareholders Approve 2025 Results, Dividend and Board Renewals
May 6, 2026
Eni’s shareholders approved the 2025 statutory financial statements, posting a profit of about €4.43 billion, which will be fully allocated to available reserves, and set a 2026 annual dividend of €1.10 per share. They also autho...
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.