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Enagas SA
(BME:ENG)
Select Model
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Rating:58Neutral
Price Target:
€18.00
▲(7.91% Upside)
Action:Reiterated
Date:10/27/26
The score is primarily held back by financial performance: solid regulated-utility margins but uneven earnings history, meaningful leverage, and cash flow that remains relatively weak versus net income and debt. Technicals add support with price above major moving averages and positive MACD, though momentum indicators (RSI/Stoch) are stretched. Valuation is mixed, with a strong dividend yield offset by a P/E of 21.7.
Positive Factors
Regulated Infrastructure Model
Enagás earns primarily from regulated infrastructure activities with revenues shaped by tariffs, allowed costs and regulated returns rather than commodity prices. This model supports recurring earnings visibility and gives the company an established role in Spain’s gas system over the medium term.
Negative Factors
Meaningful Leverage
Persistent leverage reduces Enagás’s financial flexibility and leaves less capacity for additional investment or to absorb weaker cash generation. Debt remains serviceable for a regulated operator, but the level makes balance-sheet discipline important for sustaining returns and distributions.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulated Infrastructure Model
Enagás earns primarily from regulated infrastructure activities with revenues shaped by tariffs, allowed costs and regulated returns rather than commodity prices. This model supports recurring earnings visibility and gives the company an established role in Spain’s gas system over the medium term.
Read all positive factors
Enagas SA (ENG) vs. iShares MSCI Spain ETF (EWP)
Market Cap
€4.62B
Dividend Yield5.66%
Average Volume (3M)958.74K
Price to Earnings (P/E)21.9
Beta (1Y)0.17
Revenue Growth-2.00%
EPS Growth259.61%
CountryES
Employees1,402
SectorGeneral
Sector StrengthN/A
IndustryRegulated Gas
Share Statistics
EPS (TTM)0.81
Shares Outstanding261,990,080
10 Day Avg. Volume1,149,967
30 Day Avg. Volume958,740
Financial Highlights & Ratios
PEG Ratio-0.05
Price to Book (P/B)1.50
Price to Sales (P/S)3.60
P/FCF Ratio36.65
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.91
Revenue Forecast (FY)€852.47M
Enagas SA Business Overview & Revenue Model
Company Description
Enagás S.A., established in 1972 and headquartered in Madrid, Spain, is a prominent energy company focused on the creation, operation, and maintenance of gas infrastructure across Spain and internationally. Its operations are strategically divided...
How the Company Makes Money
Enagás primarily makes money from regulated energy infrastructure activities, where revenues are largely determined by Spain’s regulatory framework rather than by commodity price exposure. Its core earnings typically come from: (1) Regulated gas t...
Enagas SA Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
57
Neutral
Cash Flow
49
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 919.10M | 960.40M | 905.55M | 907.57M | 957.10M | 975.69M |
| Gross Profit | 154.80M | 361.52M | 846.18M | 851.63M | 905.45M | 926.63M |
| EBITDA | 472.14M | 508.85M | 94.27M | 810.84M | 885.63M | 859.11M |
| Net Income | 208.90M | 339.11M | -299.31M | 342.53M | 375.77M | 403.83M |
Balance Sheet | ||||||
| Total Assets | 7.17B | 6.82B | 7.50B | 8.51B | 9.40B | 9.87B |
| Cash, Cash Equivalents and Short-Term Investments | 539.60M | 745.00M | 1.42B | 857.55M | 1.39B | 1.46B |
| Total Debt | 3.16B | 2.82B | 3.31B | 3.81B | 4.43B | 5.26B |
| Total Liabilities | 4.78B | 4.51B | 5.10B | 5.51B | 6.18B | 6.77B |
| Stockholders Equity | 2.38B | 2.30B | 2.38B | 2.98B | 3.20B | 3.09B |
Cash Flow | ||||||
| Free Cash Flow | 89.22M | 94.42M | 357.10M | 411.87M | 635.25M | 510.08M |
| Operating Cash Flow | 207.34M | 212.54M | 454.99M | 568.84M | 726.03M | 579.93M |
| Investing Cash Flow | -334.92M | 88.78M | 930.98M | -81.83M | 669.84M | 100.58M |
| Financing Cash Flow | -253.90M | -816.60M | -962.57M | -990.16M | -1.52B | -102.95M |
Enagas SA Technical Analysis
Positive
16.68
Price Trends
16.74
Positive
16.87
Positive
16.12
Positive
Market Momentum
0.27
Negative
74.29
Negative
94.82
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ES:ENG, the sentiment is Positive. The current price of 16.68 is below the 20-day moving average (MA) of 16.88, below the 50-day MA of 16.74, and above the 200-day MA of 16.12, indicating a bullish trend. The MACD of 0.27 indicates Negative momentum. The RSI at 74.29 is Negative, neither overbought nor oversold. The STOCH value of 94.82 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for ES:ENG.
Enagas SA Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | €44.44B | 17.14 | 31.00% | 3.67% | -1.29% | 26.14% | |
69 Neutral | €28.91B | 13.68 | 23.71% | 5.50% | ― | ― | |
69 Neutral | €30.79B | 9.21 | 14.10% | 3.68% | 10.40% | 396.76% | |
66 Neutral | €8.24B | 12.95 | 11.66% | 5.25% | 14.82% | 35.60% | |
60 Neutral | €145.28B | 21.18 | 13.54% | 3.20% | 1.33% | 20.21% | |
58 Neutral | €4.62B | 21.87 | 9.07% | 5.66% | -2.00% | 259.61% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
ES:ENG
Enagas SA
17.68
4.41
33.25%
ES:ELE
Endesa SA
43.19
13.56
45.77%
ES:NTGY
Naturgy Energy Group, S.A.
30.10
4.90
19.43%
ES:IBE
Iberdrola
22.03
4.87
28.39%
ES:RED
Redeia Corporación
15.28
-0.33
-2.11%
ES:REP
Repsol
28.54
13.33
87.65%
Enagas SA Corporate Events
Enagás boosts gas assets and advances hydrogen network under new regulatory era
Oct 21, 2026
Enagás has moved to consolidate and expand its gas infrastructure portfolio, agreeing to acquire Osaka Gas’s 20% stake in the Saggas regasification plant in Sagunto for €31 million and completing the €573 million purchase of...
Enagás to Publish Third-Quarter 2026 Results on 20 October
Oct 15, 2026
Enagás SA will release its financial results for the third quarter of 2026 on 20 October, ahead of the market opening, with full documentation to be made available through Spain’s securities regulator CNMV and the company’s websit...
Enagás Buys 31.5% Stake in French Gas Operator Teréga for €573 Million
Jul 31, 2026
Enagás has completed the €573 million acquisition of a 31.5% stake in French gas transmission and storage operator Teréga, following approval from the European Commission and other regulators. The deal reshapes Teréga’s ...
Enagás Strengthens Board With Appointment of Former Justice Minister Caamaño
Jul 30, 2026
Enagás’s Board of Directors has appointed Francisco Caamaño Domínguez as a proprietary director, following the resignation of Santiago Ferrer Costa for professional reasons. The appointment, proposed by state-owned shareholder...
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.