NTGY Stock Analysis: Naturgy Energy | MC
Utilities - Regulated Gas | MC, Spain | Market Cap: 26.884m EUR | 12M Return: 22% | ES0116870314 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 32.1M
Qual. Beats: 2
Rev. Trend: -69.2%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Naturgy Energy Group S.A. is an integrated energy company headquartered in Madrid, Spain, operating across the natural gas value chain including supply, liquefaction, regasification, transport, storage, distribution, and sale. The company reports through two main segments: Distribution Networks (regulated gas and electricity distribution) and Energy Markets (infrastructure management, LNG trading and shipping, and generation). Its generation portfolio spans conventional thermal, hydro, wind, solar, and cogeneration, alongside renewable gas projects in biomethane and green hydrogen.
Naturgy has a geographically diversified footprint, with operations in Spain, broader Europe, Latin America (including Argentina, Brazil, Chile, Mexico, and Panama), Australia, and the United States. As a large-cap utility listed on the Madrid Stock Exchange, it serves end customers with gas, electricity, and related services. The company was founded in 1843 and rebranded from Gas Natural SDG to its current name in June 2018.
As a gas utility operating both regulated distribution networks and merchant energy activities, Naturgys earnings are influenced by regulated rate frameworks, wholesale gas and power prices, and demand from industrial and residential customers. Its growing investment in renewables and renewable gases positions the business within the broader energy transition reshaping the European utilities sector.
- Wholesale gas prices compress energy markets margins
- Spanish tariff reviews reset distribution returns
- Latin American FX volatility pressures reported earnings
| Net Income: 2.09b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.06 > 0.02 and ΔFCF/TA -0.96 > 1.0 |
| NWC/Revenue: 14.32% < 20% (prev -3.25%; Δ 17.57% < -1%) |
| CFO/TA 0.10 > 3% & CFO 4.18b > Net Income 2.09b |
| Net Debt (12.8b) to EBITDA (5.51b): 2.32 < 3 |
| Current Ratio: 1.37 > 1.5 & < 3 |
| Outstanding Shares: last quarter (926.4m) vs 12m ago -3.23% < -2% |
| Gross Margin: 24.85% > 18% (prev 38.60%; Δ -13.75% > 0.5%) |
| Asset Turnover: 50.70% > 50% (prev 55.21%; Δ -4.52% > 0%) |
| Interest Coverage Ratio: 6.72 > 6 (EBIT TTM 3.82b / Interest Expense TTM 568.0m) |
| A: 0.07 (Total Current Assets 10.4b - Total Current Liabilities 7.56b) / Total Assets 40.8b |
| B: 0.05 (Retained Earnings 2.02b / Total Assets 40.8b) |
| C: 0.10 (EBIT TTM 3.82b / Avg Total Assets 38.6b) |
| D: 0.33 (Book Value of Equity 9.58b / Total Liabilities 29.0b) |
| Altman-Z'' = 1.62 = BB |
| DSRI: 1.60 (Receivables 3.66b/2.35b, Revenue 19.6b/20.2b) |
| GMI: 1.55 (GM 38.60% / 24.85%) |
| AQI: 0.96 (AQ_t 0.24 / AQ_t-1 0.25) |
| SGI: 0.97 (Revenue 19.6b / 20.2b) |
| TATA: -0.05 (NI 2.09b - CFO 4.18b) / TA 40.8b) |
| Beneish M = -2.08 (Cap -4..+1) = BB |
As of October 08, 2026, the stock is trading at EUR 29.52 with a total of 961,680 shares traded. Over the past week, the price has changed by +1.30%, over one month by -0.07%, over three months by +9.69% and over the past year by +22.00%.
Current recommended Stop Loss: 28.60 (which is 3.1% or 1.9 ATR below the current price).
Naturgy Energy has no consensus analysts rating.
P/E Trailing = 13.3733
P/E Forward = 13.6612
P/S = 1.3723
P/B = 2.8256
P/EG = 6.4037
Revenue TTM = 19.6b EUR
EBIT TTM = 3.82b EUR
EBITDA TTM = 5.51b EUR
Long Term Debt = 12.9b EUR (from longTermDebt, last fiscal year)
Short Term Debt = 1.22b EUR (from shortTermDebt, last quarter)
Debt = 17.8b EUR (from shortLongTermDebtTotal, last quarter) + Leases 1.28b
Net Debt = 12.8b EUR (calculated: Debt 17.8b - CCE 5.00b)
Enterprise Value = 39.7b EUR (26.9b + Debt 17.8b - CCE 5.00b)
Interest Coverage Ratio = 6.72 (Ebit TTM 3.82b / Interest Expense TTM 568.0m)
EV/FCF = 17.24x (Enterprise Value 39.7b / FCF TTM 2.30b)
FCF Yield = 5.80% (FCF TTM 2.30b / Enterprise Value 39.7b)
FCF Margin = 11.76% (FCF TTM 2.30b / Revenue TTM 19.6b)
Net Margin = 10.67% (Net Income TTM 2.09b / Revenue TTM 19.6b)
Gross Margin = 24.85% ((Revenue TTM 19.6b - Cost of Revenue TTM 14.7b) / Revenue TTM)
Gross Margin QoQ = 28.96% (prev 37.42%)
Tobins Q-Ratio = 0.97 (Enterprise Value 39.7b / Total Assets 40.8b)
Interest Expense / Debt = 3.19% (Interest Expense 568.0m / Debt 17.8b)
Taxrate = 25.35% (834.0m / 3.29b)
NOPAT = 2.85b (EBIT 3.82b * (1 - 25.35%))
Current Ratio = 1.37 (Total Current Assets 10.4b / Total Current Liabilities 7.56b)
Debt / Equity = 1.86 (Debt 17.8b / totalStockholderEquity, last quarter 9.58b)
Debt / EBITDA = 2.32 (Net Debt 12.8b / EBITDA 5.51b)
Debt / FCF = 5.56 (Net Debt 12.8b / FCF TTM 2.30b)
Total Stockholder Equity = 8.82b (last 4 quarters mean from totalStockholderEquity)
RoA = 5.41% (Net Income 2.09b / Total Assets 40.8b)
RoE = 23.71% (Net Income TTM 2.09b / Total Stockholder Equity 8.82b)
RoCE = 17.60% (EBIT 3.82b / Capital Employed (Equity 8.82b + L.T.Debt 12.9b))
RoIC = 8.52% (NOPAT 2.85b / Invested Capital 33.5b)
WACC = 4.42% (E(26.9b)/V(44.7b) * Re(5.77%) + D(17.8b)/V(44.7b) * Rd(3.19%) * (1-Tc(0.25)))
Discount Rate = 5.77% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -49.84 | Cagr: -1.60%
[DCF] Terminal Value 74.80% ; FCFF base≈2.35b ; Y1≈2.27b ; Y5≈2.22b
[DCF] Fair Price = 23.76 (EV 34.8b - Net Debt 12.8b = Equity 22.0b / Shares 926.4m; r=8.35% [WACC [floored]]; 5y FCF grow -4.60% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 4.0 | # QB: 2
Revenue Correlation: -69.25 | Revenue CAGR: -6.53% | SUE: 0.21 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.49 | Chg30d=-25.76% | Revisions=-25% | Analysts=1
EPS current Year (2026-12-31): EPS=2.20 | Chg30d=+0.42% | Revisions=+73% | GrowthEPS=+1.3% | GrowthRev=+2.8%
EPS next Year (2027-12-31): EPS=2.10 | Chg30d=+0.26% | Revisions=+44% | GrowthEPS=-4.7% | GrowthRev=-1.6%
[Analyst] Revisions Ratio: +61% (up=13, down=2)