ENI S.p.A. (IT:ENI)
:ENI
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ENI S.p.A.
(ENI)
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Rating:67Neutral
Price Target:
€27.00
▲(14.89% Upside)
Action:ReiteratedDate:03/01/26
The score is driven primarily by solid financial quality (strong ongoing cash generation and manageable leverage) but tempered by weakening revenue and profitability trends through 2025. Technicals are supportive due to a strong uptrend, though overbought signals increase near-term risk. Valuation is mixed: a high dividend yield helps, while a ~22.8 P/E limits attractiveness for a cyclical integrated energy stock.
Positive Factors
Cash generation
Consistent OCF and improving FCF into 2025 provide durable internal funding for capex, dividends and energy-transition investments. Reliable cash generation cushions commodity cyclicality and supports capital allocation without immediate reliance on external financing.
Negative Factors
Declining revenue trend
Multi-year revenue declines through 2023–2025 indicate weakening top-line momentum that can constrain reinvestment and margin recovery. A shrinking revenue base increases sensitivity to portfolio decisions and heightens the need for successful asset optimization or new growth projects.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Consistent OCF and improving FCF into 2025 provide durable internal funding for capex, dividends and energy-transition investments. Reliable cash generation cushions commodity cyclicality and supports capital allocation without immediate reliance on external financing.
Read all positive factors
ENI S.p.A. (ENI) vs. iShares MSCI Italy ETF (EWI)
Market Cap
€71.45B
Dividend Yield6.39%
Average Volume (3M)10.46M
Price to Earnings (P/E)18.7
Beta (1Y)0.47
Revenue Growth-5.46%
EPS Growth13.79%
CountryIT
Employees32,492
SectorGeneral
Sector StrengthN/A
IndustryOil & Gas Integrated
Share Statistics
EPS (TTM)0.39
Shares Outstanding3,027,982,200
10 Day Avg. Volume11,265,495
30 Day Avg. Volume10,462,038
Financial Highlights & Ratios
PEG Ratio2.11
Price to Book (P/B)1.02
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
€24.17Price Target Upside2.85% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering14
EPS Forecast (FY)2.33
Revenue Forecast (FY)€93.81B
ENI S.p.A. Business Overview & Revenue Model
Company Description
Eni S.p.A. engages in the exploration, development, and production of crude oil and natural gas. It operates through Exploration & Production; Global Gas & LNG Portfolio; Refining & Marketing and Chemicals; Plenitude and Power; and Corporate and O...
How the Company Makes Money
Eni makes money primarily by producing and selling hydrocarbons and by marketing and trading energy products across multiple segments. (1) Upstream (exploration & production): Eni generates revenue from the sale of crude oil, condensates, and natu...
ENI S.p.A. Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
68
Positive
Cash Flow
70
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 82.15B | 91.17B | 94.79B | 133.64B | 77.66B |
| Gross Profit | 4.52B | 20.38B | 21.27B | 31.48B | 22.43B |
| EBITDA | 13.33B | 15.19B | 16.73B | 25.20B | 18.55B |
| Net Income | 2.61B | 2.62B | 4.77B | 13.89B | 5.82B |
Balance Sheet | |||||
| Total Assets | 137.07B | 146.95B | 142.61B | 152.17B | 137.76B |
| Cash, Cash Equivalents and Short-Term Investments | 15.09B | 14.98B | 16.98B | 18.41B | 14.55B |
| Total Debt | 33.10B | 34.97B | 39.14B | 31.87B | 33.13B |
| Total Liabilities | 84.28B | 91.26B | 88.96B | 96.94B | 93.25B |
| Stockholders Equity | 47.94B | 52.83B | 53.18B | 54.76B | 44.44B |
Cash Flow | |||||
| Free Cash Flow | 4.63B | 5.09B | 5.90B | 5.04B | 7.63B |
| Operating Cash Flow | 13.33B | 13.09B | 15.12B | 5.82B | 12.86B |
| Investing Cash Flow | -9.30B | -9.82B | -9.37B | -3.71B | -12.02B |
| Financing Cash Flow | -3.60B | -5.38B | -5.67B | -8.63B | -2.04B |
ENI S.p.A. Technical Analysis
Positive
23.50
Price Trends
20.40
Positive
18.19
Positive
16.26
Positive
Market Momentum
1.18
Positive
62.79
Neutral
72.60
Neutral
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 23.5 is above the 20-day moving average (MA) of 23.34, above the 50-day MA of 20.40, and above the 200-day MA of 16.26, indicating a bullish trend. The MACD of 1.18 indicates Positive momentum. The RSI at 62.79 is Neutral, neither overbought nor oversold. The STOCH value of 72.60 is Neutral, 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 | €71.45B | 18.72 | 5.51% | 6.39% | -5.46% | 13.79% | |
64 Neutral | €7.93B | 9.65 | 13.08% | 4.37% | 8.61% | -22.69% | |
63 Neutral | €100.31B | 22.77 | 23.22% | 5.05% | -3.10% | 26.28% | |
61 Neutral | €3.37B | 23.79 | 9.06% | 5.06% | 10.48% | 9.06% | |
56 Neutral | €6.12B | 8.70 | 13.30% | 3.76% | 15.98% | 19.01% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IT:ENI
ENI S.p.A.
24.43
13.65
126.52%
IT:A2A
A2A SpA
2.53
0.64
33.61%
IT:EDNR
Edison Spa
2.19
0.49
28.83%
IT:ENEL
Enel S.p.A.
9.88
3.27
49.57%
IT:HER
HERA S.p.A.
4.18
0.53
14.35%
IT:IRE
Iren S.p.A.
2.63
0.47
21.86%
ENI S.p.A. Corporate Events
Eni Publishes Board Minutes on 2026 Bond Issuance
Apr 7, 2026
Eni S.p.A. has announced that the minutes of its Board of Directors meeting held on 2 April 2026, concerning the issuance of bonds, have been made publicly available. The documentation can be consulted at the company’s registered office in R...
Eni Approves Fourth Tranche of 2025 Dividend Alternative
Apr 4, 2026
Eni’s board has approved the distribution of a fourth tranche of the payout in place of the 2025 financial year dividend, setting it at €0.27 per share, or €0.54 per NYSE-listed ADR representing two shares. The payment timetable ...
Eni Approves Final Tranche of 2025 Dividend‑Replacement Payout
Apr 2, 2026
Eni’s Board of Directors has approved the distribution of the fourth and final tranche of the payment in place of the 2025 dividend, setting it at €0.27 per share, bringing the total annual payout to €1.05. The payment will be ma...
Eni Board Clears Potential €10 Billion Bond Programme to Support Funding Strategy
Apr 2, 2026
Eni’s board of directors has authorized the potential issuance of one or more bond loans targeted at institutional investors for up to €10 billion, or the equivalent in other currencies, to be issued in several tranches by 31 March 202...
Eni Triggers Step-Up on 2023–2028 Sustainability-Linked Bond
Mar 26, 2026
Eni has announced the occurrence of a Step-Up Event on its sustainability-linked bond issue “Eni obbligazioni sustainability-linked 2023/2028”, following the publication of its 2025 Annual Report and audit. Under the bond’s terms...
Eni Publishes 2025 Annual Financial and Governance Reports in EU-Compliant Digital Format
Mar 23, 2026
Eni has published its 2025 Annual Financial Report, including separate and consolidated financial statements, the management report with Sustainability Reporting, and related audit and certification documents, making them available at its Rome hea...
Eni Calls 2026 Shareholders’ Meeting With Dividend Moves and Buyback Plan on Agenda
Mar 23, 2026
Eni has convened its 2026 Ordinary and Extraordinary Shareholders’ Meeting for 6 May in Rome, to be held exclusively through an appointed representative in line with extended Italian emergency provisions. Shareholders will vote on the 2025 f...
Eni Restructures Plenitude Governance and Capital to Spur Growth and Deconsolidation
Mar 19, 2026
Eni has launched a restructuring of the shareholder base and governance of its subsidiary Plenitude with partners Ares Management and Energy Infrastructure Partners, establishing joint control between Eni and Ares and removing Plenitude from Eni&#...
Eni Approves 2025 Accounts and Sets May Shareholders’ Meeting
Mar 18, 2026
Eni’s board has approved the 2025 Annual Financial Report, reporting net profit attributable to shareholders of €2.608 billion at group level and €4.429 billion for the parent company, and confirmed that the fourth tranche of the...
Eni Publishes Amended By-laws After Completion of Share Buyback
Mar 17, 2026
Eni has updated and published its amended By-laws following the cancellation of 118,782,928 treasury shares previously repurchased under a shareholder-authorized buyback program. The revised By-laws are now accessible to the public at the company&...
Eni Discloses Share Sale by Public Affairs Director Lapo Pistelli
Mar 16, 2026
Eni S.p.A. disclosed a transaction by Lapo Pistelli, its Director of Public Affairs and a person discharging managerial responsibilities, involving the sale of 937 ordinary Eni shares on the MTAA market. The disposal was executed on 16 March 2026 ...
Eni Discloses Share Sale by Public Affairs Director Lapo Pistelli
Mar 11, 2026
Eni has reported an internal dealing transaction involving Lapo Pistelli, the company’s Director of Public Affairs and a person discharging managerial responsibilities under EU market abuse rules. The notification, made in line with Regulati...
Eni executive reports disposal of 3,000 company shares
Mar 10, 2026
Eni disclosed that Lorenzo Fiorillo, Director of Technology, RD Digital and a person discharging managerial responsibilities, executed a market transaction involving the company’s ordinary shares. The filing reports the disposal of 3,000 En...
Eni Discloses Share Sale by Senior Technology Executive
Mar 10, 2026
Eni has disclosed a share transaction by a senior manager, in line with European market abuse regulations governing dealings by persons discharging managerial responsibilities. Lorenzo Fiorillo, Director of Technology, RD Digital at Eni, sold 4,8...
Eni Discloses Share Sale by Internal Audit Director Under EU Rules
Mar 6, 2026
Eni has disclosed a transaction by Gianfranco Cariola, its Director of Internal Audit and a person discharging managerial responsibilities, in compliance with EU market abuse regulations. The disclosure concerns the sale of 7,675 ordinary Eni shar...
Eni Cancels 118.8 Million Treasury Shares Without Cutting Share Capital
Mar 5, 2026
Eni has updated its share capital structure after cancelling 118,782,928 treasury shares, following a mandate granted by shareholders at the May 2025 extraordinary meeting. The cancellation, executed without reducing the overall share capital of &...
Eni Reports February Institutional Share Purchases by Société Générale
Mar 4, 2026
Eni disclosed a series of share transactions carried out on the Euronext Milan by Société Générale, involving purchases of Eni shares across multiple trading sessions in February 2026. The trades, none of which were classified ...
Eni discloses share sale by Internal Audit Director under EU market abuse rules
Mar 3, 2026
Eni has disclosed a transaction by Gianfranco Cariola, its Director of Internal Audit and a person discharging managerial responsibilities, involving the sale of 2,073 ordinary Eni shares on the Italian MTAA market at €20.30 per share. The d...
Eni discloses share sale by senior technology executive
Mar 3, 2026
Eni has disclosed an internal share dealing transaction involving Lorenzo Fiorillo, its Director of Technology, RD and Digital, who is classified as a person discharging managerial responsibilities under EU market abuse rules. The filing reports t...
Eni Discloses Board Secretary’s Sale of 7,700 Shares Under EU Market Abuse Rules
Mar 2, 2026
Eni has disclosed a transaction by Luca Franceschini, its Director of Integrated Compliance and Secretary of the Board, who is classified as a person discharging managerial responsibilities under EU market abuse rules. The filing reports that he d...
Eni Executive Cristian Signoretto Discloses Sale of 10,000 Company Shares
Feb 27, 2026
Eni S.p.A. disclosed a transaction by Cristian Signoretto, Director Global Gas LNG Portfolio and a person discharging managerial responsibilities, involving the sale of 10,000 ordinary Eni shares. The disposal was executed on the MTAA market on 2...
Eni to Publish 2025 Full-Year Results Presentation on Website and 1Info
Feb 26, 2026
Eni S.p.A. has announced that its “2025 Full Year Results” presentation will be made available to the public on the company’s website in the Publications/Investor Presentations section. The same materials will also be accessible ...
Eni Lifts 2025 Profit, Cash Flow and Reserves as Upstream and Transition Businesses Advance
Feb 26, 2026
Eni reported strong fourth-quarter and full-year 2025 results, with adjusted net profit up 35% to €1.20 billion and operating cash flow of €3 billion, helping cut leverage to a historically low 14%. The company delivered major upstream...
Eni Board Clears Third Tranche of 2025 Dividend Provision
Feb 25, 2026
Eni’s board has approved the third tranche of the provision in place of the 2025 dividend, confirming a payout of €0.26 per share from available reserves for investors holding stock on the ex‑dividend date of 23 March 2026. Payme...
Eni Completes €1.8 Billion Share Buyback, Set to Cancel 3.77% of Capital
Feb 25, 2026
Eni has completed its 2025 share buyback program, repurchasing 118,782,928 shares for about €1.8 billion, equal to 3.77% of its share capital, in a move designed to provide shareholders with additional remuneration on top of dividends. The r...
Eni Lifts Treasury Stake to 6.35% as Share Buyback Nears €1.7 Billion
Feb 4, 2026
Eni has continued its share buyback programme, repurchasing 2,345,145 shares on Euronext Milan between 26 and 30 January 2026, equal to about 0.07% of its share capital, for a total consideration of just under €40 million at an average price...
Eni Expands Treasury Share Holdings as Buyback Programme Advances
Jan 28, 2026
Eni has continued its share buyback programme, purchasing 2,426,532 treasury shares on Euronext Milan between 19 and 23 January 2026, equal to 0.08% of its share capital, at an average price of €16.4844 per share for a total consideration of...
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.