(ENG) Enagás S.A. - Overview
Sector: Utilities | Industry: Utilities - Regulated Gas | Exchange: MC (Spain) | Market Cap: 4.477m EUR | Total Return: 28.9% in 12m
Avg Turnover: 14.2M
EPS Trend: -28.0%
Qual. Beats: 0
Rev. Trend: 57.2%
Qual. Beats: 0
Warnings
Beneish M-Score -1.35 > -1.5 - likely earnings manipulation
Altman Z'' 0.27 < 1.0 - financial distress zone
Tailwinds
No distinct edge detected
Enagás S.A. is a Spanish energy infrastructure company specializing in the transmission, storage, and regasification of natural gas. As the designated Technical Manager of the Spanish Gas System, the company operates an extensive network of high-pressure pipelines and underground storage facilities. Its business model is primarily centered on regulated domestic activities, which provide predictable revenue streams based on government-set remuneration frameworks rather than direct commodity price exposure.
The company is currently diversifying its portfolio to include hydrogen infrastructure and renewable gases like biomethane to align with European decarbonization targets. This transition involves repurposing existing gas assets and developing new facilities for ammonia and CO2 transport. Investors can explore detailed valuation metrics and peer comparisons for this stock on ValueRay.
Beyond its core Spanish operations, Enagás maintains an international segment with interests in LNG terminals and transmission projects across Europe and Latin America. The gas utility sector typically features high capital intensity and significant barriers to entry due to the specialized nature of midstream infrastructure and long-term regulatory concessions.
- Spanish regulatory framework changes impact stable utility transmission revenue
- Strategic pivot toward green hydrogen infrastructure requires significant capital expenditure
- European energy security demand drives utilization of regasification terminals
- Divestment of international assets influences dividend sustainability and debt levels
- Natural gas demand fluctuations in Spain affect regulated asset base returns
| Net Income: 259.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA -3.64 > 1.0 |
| NWC/Revenue: -29.58% < 20% (prev 48.98%; Δ -78.56% < -1%) |
| CFO/TA 0.03 > 3% & CFO 212.5m > Net Income 259.3m |
| Net Debt (2.08b) to EBITDA (709.8m): 2.93 < 3 |
| Current Ratio: 0.81 > 1.5 & < 3 |
| Outstanding Shares: last quarter (259.9m) vs 12m ago 0.12% < -2% |
| Gross Margin: 23.23% > 18% (prev 0.60%; Δ 2.26k% > 0.5%) |
| Asset Turnover: 14.05% > 50% (prev 12.73%; Δ 1.33% > 0%) |
| Interest Coverage Ratio: 5.03 > 6 (EBITDA TTM 709.8m / Interest Expense TTM 85.0m) |
| A: -0.04 (Total Current Assets 1.25b - Total Current Liabilities 1.53b) / Total Assets 6.70b |
| B: 0.01 (Retained Earnings 56.9m / Total Assets 6.70b) |
| C: 0.06 (EBIT TTM 427.9m / Avg Total Assets 6.86b) |
| D: 0.10 (Book Value of Equity 449.9m / Total Liabilities 4.46b) |
| Altman-Z'' = 0.27 = B |
| DSRI: 1.10 (Receivables 577.1m/484.3m, Revenue 964.2m/893.1m) |
| GMI: 2.60 (GM 23.23% / 60.31%) |
| AQI: 1.13 (AQ_t 0.27 / AQ_t-1 0.24) |
| SGI: 1.08 (Revenue 964.2m / 893.1m) |
| TATA: 0.01 (NI 259.3m - CFO 212.5m) / TA 6.70b) |
| Beneish M = -1.35 (Cap -4..+1) = D |
As of May 25, 2026, the stock is trading at EUR 17.22 with a total of 1,799,671 shares traded.
Over the past week, the price has changed by +3.62%,
over one month by +1.42%,
over three months by +13.65% and
over the past year by +28.85%.
Enagás S.A. has no consensus analysts rating.
P/E Trailing = 13.6667
P/E Forward = 18.7266
P/S = 4.5903
P/B = 1.9809
P/EG = 16.55
Revenue TTM = 964.2m EUR
EBIT TTM = 427.9m EUR
EBITDA TTM = 709.8m EUR
Long Term Debt = 2.02b EUR (from longTermDebt, last quarter)
Short Term Debt = 629.1m EUR (from shortTermDebt, last quarter)
Debt = 2.65b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 2.08b EUR (calculated: Debt 2.65b - CCE 573.3m)
Enterprise Value = 6.56b EUR (4.48b + Debt 2.65b - CCE 573.3m)
Interest Coverage Ratio = 5.03 (Ebit TTM 427.9m / Interest Expense TTM 85.0m)
EV/FCF = 69.46x (Enterprise Value 6.56b / FCF TTM 94.4m)
FCF Yield = 1.44% (FCF TTM 94.4m / Enterprise Value 6.56b)
FCF Margin = 9.79% (FCF TTM 94.4m / Revenue TTM 964.2m)
Net Margin = 26.89% (Net Income TTM 259.3m / Revenue TTM 964.2m)
Gross Margin = 23.23% ((Revenue TTM 964.2m - Cost of Revenue TTM 740.2m) / Revenue TTM)
Gross Margin QoQ = none% (prev 20.19%)
Tobins Q-Ratio = 0.98 (Enterprise Value 6.56b / Total Assets 6.70b)
Interest Expense / Debt = 3.20% (Interest Expense 85.0m / Debt 2.65b)
Taxrate = 4.68% (2.80m / 59.8m)
NOPAT = 407.9m (EBIT 427.9m * (1 - 4.68%))
Current Ratio = 0.81 (Total Current Assets 1.25b / Total Current Liabilities 1.53b)
Debt / Equity = 1.19 (Debt 2.65b / totalStockholderEquity, last quarter 2.22b)
Debt / EBITDA = 2.93 (Net Debt 2.08b / EBITDA 709.8m)
Debt / FCF = 22.04 (Net Debt 2.08b / FCF TTM 94.4m)
Total Stockholder Equity = 2.27b (last 4 quarters mean from totalStockholderEquity)
RoA = 3.78% (Net Income 259.3m / Total Assets 6.70b)
RoE = 11.42% (Net Income TTM 259.3m / Total Stockholder Equity 2.27b)
RoCE = 9.96% (EBIT 427.9m / Capital Employed (Equity 2.27b + L.T.Debt 2.02b))
RoIC = 7.03% (NOPAT 407.9m / Invested Capital 5.80b)
WACC = 4.53% (E(4.48b)/V(7.13b) * Re(5.41%) + D(2.65b)/V(7.13b) * Rd(3.20%) * (1-Tc(0.05)))
Discount Rate = 5.41% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 11.11 | Cagr: -0.23%
[DCF] Terminal Value 73.10% ; FCFF base≈198.2m ; Y1≈173.8m ; Y5≈140.4m
[DCF] Fair Price = 0.67 (EV 2.25b - Net Debt 2.08b = Equity 173.6m / Shares 260.0m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: -27.98 | EPS CAGR: -4.50% | SUE: -0.02 | # QB: 0
Revenue Correlation: 57.24 | Revenue CAGR: 1.60% | SUE: 0.39 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.21 | Chg30d=+1.04% | Revisions=+20% | Analysts=1
EPS next Quarter (2026-09-30): EPS=0.25 | Chg30d=+2.45% | Revisions=+20% | Analysts=1
EPS current Year (2026-12-31): EPS=0.90 | Chg30d=+0.38% | Revisions=+33% | GrowthEPS=-11.2% | GrowthRev=-15.7%
EPS next Year (2027-12-31): EPS=1.07 | Chg30d=+7.03% | Revisions=+67% | GrowthEPS=+18.6% | GrowthRev=+5.6%
[Analyst] Revisions Ratio: +67%