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Repsol SA (REPYY)
:REPYY
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Repsol
(OTC:REPYY)
Rating:78Outperform
Price Target:
$19.00
â–²(13.70% Upside)
Repsol (REPYY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$19.07B
Dividend Yield5.79%
Average Volume (3M)44.53K
Price to Earnings (P/E)24.0
Beta (1Y)0.45
Revenue Growth-8.21%
EPS Growth-76.47%
CountryUS
Employees25,136
SectorEnergy
Sector Strength59
IndustryOil & Gas Integrated
Share Statistics
EPS (TTM)0.66
Shares Outstanding1,157,396,000
10 Day Avg. Volume42,900
30 Day Avg. Volume44,529
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market Cap1.51
Enterprise Value/Revenue0.42
Enterprise Value/Gross Profit2.38
Enterprise Value/Ebitda6.69
Forecast
1Y Price Target
$19.00Price Target Upside13.70% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering0
Repsol Business Overview & Revenue Model
Company DescriptionRepsol S.A. is a global energy company headquartered in Madrid, Spain, engaged in the exploration, production, refining, and distribution of oil and natural gas. The company operates across various sectors, including upstream (exploration and production), downstream (refining, marketing, and distribution of petroleum products), and renewable energy. Repsol's core products and services include crude oil, natural gas, gasoline, diesel, and petrochemicals, as well as renewable energy solutions such as solar and wind power.
How the Company Makes MoneyRepsol generates revenue primarily through the sale of oil and gas products, including crude oil, natural gas, and refined products. The upstream segment contributes significantly to its earnings, with revenue derived from exploration and production activities in various geographical regions. The downstream segment generates income from refining operations, marketing of fuel products, and petrochemical production. Additionally, Repsol is investing in renewable energy projects, which are expected to become increasingly important in its revenue model. The company has established partnerships and joint ventures with other energy firms and organizations to enhance its capabilities and expand its market reach, further contributing to its overall profitability.
Repsol Earnings Call Summary
Earnings Call Date:Jul 24, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Oct 30, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted strong financial performance in terms of increased adjusted income and cash flow from operations, as well as successful asset disposals and production increases. However, challenges such as the impact of a power outage in Iberia, issues in the Industrial segment, and licensing problems in Venezuela were significant. Despite these challenges, the company remains optimistic about achieving its strategic objectives.Q2-2025 Updates
Positive Updates
Increase in Adjusted Income and Cash Flow
Repsol's second quarter adjusted income was EUR 702 million, 8% above the first quarter of the year. Cash flow from operations amounted to EUR 1.7 billion, a 50% improvement compared to the first quarter.
Successful Asset Disposals
Out of the EUR 2 billion divestment target for 2025, Repsol announced disposals and asset rotation for a total of EUR 1.2 billion, with EUR 0.5 billion in cash received in the first semester.
Production Increases in Upstream Division
Production averaged 557,000 barrels per day, a 3% increase over the first quarter, thanks to higher contributions from the UK, Trinidad and Tobago, Eagle Ford, and Libya.
Growth in Customer Division
The Customer division's second quarter adjusted income was EUR 198 million, a 25% increase over the same period in 2024, driven by higher contributions in all business segments.
Renewable Energy Developments
Repsol's power generation reached 2.8 terawatts hour, 58% higher year-over-year, with plans to expand the low carbon generation portfolio.
Negative Updates
Impact of Power Outage in Iberia
A power outage in April affected all generation facilities in Spain and Portugal, leading to shutdowns of all refineries and petrochemical plants, with an estimated EBIT impact of around EUR 130 million.
Challenges in Industrial Segment
Second quarter adjusted income in the Industrial segment was EUR 99 million, EUR 189 million below the same quarter in 2024, due to lower results in refining, chemicals, and trading.
Venezuela Licensing Issue
The United States Administration revoked Repsol's oil license in Venezuela, impacting their ability to monetize production.
Depressed Chemical Business
Despite a 76% increase in the chemical margin indicator over the first quarter, the segment couldn't capture margins due to lower utilization rates and soft demand.
Company Guidance
The guidance provided in the call highlighted several key metrics and strategic objectives for Repsol moving forward. For the second quarter of 2025, Repsol reported an adjusted income of EUR 702 million, marking an 8% increase from the first quarter. Cash flow from operations rose to EUR 1.7 billion, a 50% improvement from the previous quarter, largely due to a EUR 0.6 billion working capital inflow. CapEx for the quarter was EUR 1.3 billion, bringing the first-half total to EUR 2.7 billion. The company has already announced disposals and asset rotations totaling EUR 1.2 billion towards its EUR 2 billion divestment target for 2025. Net debt decreased by 2% from March to EUR 5.7 billion, with gearing, including leases, at 17.9%. For shareholder remuneration, Repsol plans to distribute 30% to 35% of the cash flow from operations generated in 2025, increasing dividend funds by 3% and complementing cash dividends with share buybacks worth EUR 700 million. Repsol's refining margin indicator averaged $5.9, an 11% increase from the previous quarter. In the Upstream division, production averaged 557,000 barrels per day, a 3% rise over the first quarter. The company is on track to meet its strategic objectives for 2025, with net CapEx estimated at around EUR 3.5 billion for the year. The company also remains focused on optimizing its portfolio and anticipates further growth from new projects in the Upstream sector, including the Leon-Castille development and Pikka project in Alaska.Repsol Financial Statement Overview
Summary
Repsol shows stable revenue growth and a strong balance sheet with moderate leverage. However, profitability is pressured by declining margins and reduced cash flow generation, indicating challenges in operational efficiency and cost management.Income Statement
Repsol's income statement reflects moderate revenue growth, with a revenue increase from €53.12 billion in 2023 to €57.12 billion in 2024, marking a growth rate of 7.52%. However, there is a notable decline in gross profit margin, from 27.94% in 2023 to 19.09% in 2024, indicating increased cost pressures. The net profit margin also decreased from 5.96% to 3.07%, reflecting reduced profitability. EBIT and EBITDA margins have weakened, suggesting operational challenges.78
Positive
Balance Sheet
The balance sheet indicates a stable financial position with a debt-to-equity ratio of 0.46 in 2024, showcasing prudent leverage use. The return on equity (ROE) decreased from 12.10% in 2023 to 6.63% in 2024, suggesting declining efficiency in generating profits from shareholders' equity. The equity ratio remains robust at 41.92%, indicating a healthy capital structure.82
Very Positive
Cash Flow
The cash flow statement shows a significant decrease in operating cash flow from €6.51 billion in 2023 to €4.97 billion in 2024, impacting overall liquidity. Free cash flow to net income ratio is low, indicating limited free cash generation relative to net income. The free cash flow growth rate is modest at 8.01%, signaling challenges in translating earnings into cash.65
Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 68.83B | 57.12B | 58.95B | 69.29B | 49.74B | 33.28B |
| Gross Profit | 12.12B | 10.91B | 12.52B | 16.11B | 10.10B | 7.01B |
| EBITDA | 4.32B | 5.61B | 7.25B | 9.93B | 6.74B | -557.00M |
| Net Income | 733.00M | 1.76B | 3.17B | 4.25B | 2.50B | -3.29B |
Balance Sheet | ||||||
| Total Assets | 59.06B | 63.19B | 61.63B | 59.96B | 56.25B | 49.30B |
| Cash, Cash Equivalents and Short-Term Investments | 6.51B | 6.43B | 8.43B | 9.01B | 7.84B | 5.51B |
| Total Debt | 0.00 | 12.19B | 10.56B | 13.36B | 14.49B | 15.56B |
| Total Liabilities | 32.71B | 34.09B | 32.56B | 33.99B | 33.46B | 28.76B |
| Stockholders Equity | 23.83B | 26.49B | 26.20B | 25.29B | 22.41B | 20.30B |
Cash Flow | ||||||
| Free Cash Flow | 1.51B | 240.00M | 2.22B | 4.30B | 2.77B | 852.00M |
| Operating Cash Flow | 5.49B | 4.96B | 6.51B | 7.83B | 4.68B | 2.74B |
| Investing Cash Flow | -2.28B | -2.69B | -5.85B | -4.10B | -2.93B | 222.00M |
| Financing Cash Flow | -3.11B | -1.64B | -3.05B | -2.83B | -529.00M | -1.61B |
Repsol Technical Analysis
Positive
16.71
Price Trends
15.50
Positive
14.06
Positive
12.93
Positive
Market Momentum
0.37
Negative
71.16
Negative
93.32
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For REPYY, the sentiment is Positive. The current price of 16.71 is above the 20-day moving average (MA) of 16.09, above the 50-day MA of 15.50, and above the 200-day MA of 12.93, indicating a bullish trend. The MACD of 0.37 indicates Negative momentum. The RSI at 71.16 is Negative, neither overbought nor oversold. The STOCH value of 93.32 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for REPYY.
Repsol Peers Comparison
Overall Rating
UnderperformOutperform
Sector (65)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $19.07B | 23.98 | 3.15% | 5.79% | -8.21% | -76.47% | |
78 Outperform | $138.02B | 10.81 | 10.96% | 5.80% | -10.73% | -36.76% | |
78 Outperform | $53.26B | 20.02 | 4.83% | 6.95% | -6.31% | -33.87% | |
74 Outperform | $211.14B | 16.07 | 7.47% | 3.96% | -5.75% | -20.18% | |
73 Outperform | $75.22B | 5.75 | 19.48% | 13.66% | -13.68% | -13.96% | |
71 Outperform | $60.39B | 7.87 | 19.22% | 8.99% | 1.19% | -7.87% | |
65 Neutral | $15.01B | 7.39 | 3.19% | 5.33% | 4.10% | -61.80% |
* Energy Sector Average
Performance Comparison
REPYY
Repsol
16.71
4.51
36.97%
E
Eni SPA
34.18
4.54
15.32%
PBR
Petroleo Brasileiro SA- Petrobras
12.21
-0.91
-6.94%
SHEL
Shell
71.60
6.93
10.72%
EQNR
Equinor ASA
23.81
0.61
2.63%
TTE
TotalEnergies
60.95
-3.46
-5.37%
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.