ENAV Stock Analysis: Enav | MI
Airports & Air Services | MI, Italy | Market Cap: 2.842m EUR | 12M Return: 34.9% | IT0005176406 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 2.07M
Qual. Beats: -2
Rev. Trend: -29.7%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
Seasonality 10.3 years of data, until 10/2026
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, ≥40 worth a closer look and ≥60 is strong.
ENAV S.p.A. provides air traffic control and other air navigation services in Italy and internationally. Its businesses include air navigation services, maintenance of air traffic control equipment and infrastructure, and software for managing aeronautical information and air traffic.
The company also offers services including air traffic flow management, communications and surveillance, weather, flight procedure design, training, and safety consulting. As an airport services company, ENAV supports airports, airlines, other air navigation providers, and aviation-related industries.
- Air traffic growth lifts regulated en-route and terminal service revenue
- Italian tariff rules and allowed returns shape revenue and margins
- Personnel and technology investment costs pressure operating margins
| Net Income: 165.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.19 > 0.02 and ΔFCF/TA 7.28 > 1.0 |
| NWC/Revenue: 38.55% < 20% (prev 14.42%; Δ 24.13% < -1%) |
| CFO/TA 0.25 > 3% & CFO 511.7m > Net Income 165.5m |
| Net Debt (242.6m) to EBITDA (334.5m): 0.73 < 3 |
| Current Ratio: 2.16 > 1.5 & < 3 |
| Outstanding Shares: last quarter (540.3m) vs 12m ago -0.23% < -2% |
| Gross Margin: 32.71% > 18% (prev 40.14%; Δ -7.43% > 0.5%) |
| Asset Turnover: 60.16% > 50% (prev 43.47%; Δ 16.69% > 0%) |
| Interest Coverage Ratio: 9.42 > 6 (EBIT TTM 208.9m / Interest Expense TTM 22.2m) |
| A: 0.24 (Total Current Assets 940.0m - Total Current Liabilities 435.4m) / Total Assets 2.09b |
| B: 0.04 (Retained Earnings 78.2m / Total Assets 2.09b) |
| C: 0.10 (EBIT TTM 208.9m / Avg Total Assets 2.18b) |
| D: 0.98 (Book Value of Equity 1.03b / Total Liabilities 1.05b) |
| Altman-Z'' = 3.39 = A |
| DSRI: 0.73 (Receivables 527.3m/541.5m, Revenue 1.31b/985.0m) |
| GMI: 1.23 (GM 40.14% / 32.71%) |
| AQI: 0.67 (AQ_t 0.16 / AQ_t-1 0.24) |
| SGI: 1.33 (Revenue 1.31b / 985.0m) |
| TATA: -0.17 (NI 165.5m - CFO 511.7m) / TA 2.09b) |
| Beneish M = -3.02 (Cap -4..+1) = AA |
As of November 11, 2026, the stock is trading at EUR 5.37 with a total of 283,273 shares traded. Over the past week, the price has changed by +2.09%, over one month by +13.63%, over three months by +4.88% and over the past year by +34.94%.
Current recommended Stop Loss: 5.10 (which is 5% or 2.5 ATR below the current price).
Enav has no consensus analysts rating.
P/E Trailing = 26.3
P/E Forward = 21.5054
P/S = 2.7974
P/B = 2.7482
Revenue TTM = 1.31b EUR
EBIT TTM = 208.9m EUR
EBITDA TTM = 334.5m EUR
Long Term Debt = 188.0m EUR (from longTermDebt, last fiscal year)
Short Term Debt = 24.4m EUR (from shortTermDebt, last quarter)
Debt = 482.5m EUR (from shortLongTermDebtTotal, last quarter) + Leases 11.5m
Net Debt = 242.6m EUR (calculated: Debt 482.5m - CCE 239.9m)
Enterprise Value = 3.08b EUR (2.84b + Debt 482.5m - CCE 239.9m)
Interest Coverage Ratio = 9.42 (Ebit TTM 208.9m / Interest Expense TTM 22.2m)
EV/FCF = 7.91x (Enterprise Value 3.08b / FCF TTM 390.0m)
FCF Yield = 12.64% (FCF TTM 390.0m / Enterprise Value 3.08b)
FCF Margin = 29.80% (FCF TTM 390.0m / Revenue TTM 1.31b)
Net Margin = 12.65% (Net Income TTM 165.5m / Revenue TTM 1.31b)
Gross Margin = 32.71% ((Revenue TTM 1.31b - Cost of Revenue TTM 880.8m) / Revenue TTM)
Gross Margin QoQ = 32.00% (prev 36.99%)
Tobins Q-Ratio = 1.48 (Enterprise Value 3.08b / Total Assets 2.09b)
Interest Expense / Debt = 4.60% (Interest Expense 22.2m / Debt 482.5m)
Taxrate = 28.91% (67.4m / 233.2m)
NOPAT = 148.5m (EBIT 208.9m * (1 - 28.91%))
Current Ratio = 2.16 (Total Current Assets 940.0m / Total Current Liabilities 435.4m)
Debt / Equity = 0.47 (Debt 482.5m / totalStockholderEquity, last quarter 1.03b)
Debt / EBITDA = 0.73 (Net Debt 242.6m / EBITDA 334.5m)
Debt / FCF = 0.62 (Net Debt 242.6m / FCF TTM 390.0m)
Total Stockholder Equity = 1.12b (last 4 quarters mean from totalStockholderEquity)
RoA = 7.61% (Net Income 165.5m / Total Assets 2.09b)
RoE = 14.73% (Net Income TTM 165.5m / Total Stockholder Equity 1.12b)
RoCE = 15.92% (EBIT 208.9m / Capital Employed (Equity 1.12b + L.T.Debt 188.0m))
RoIC = 9.23% (NOPAT 148.5m / Invested Capital 1.61b)
WACC = 5.94% (E(2.84b)/V(3.32b) * Re(6.39%) + D(482.5m)/V(3.32b) * Rd(4.60%) * (1-Tc(0.29)))
Discount Rate = 6.39% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -47.55 | Cagr: -0.06%
[DCF] Terminal Value 77.97% ; FCFF base≈337.5m ; Y1≈386.9m ; Y5≈569.4m
[DCF] Fair Price = 15.41 (EV 8.57b - Net Debt 242.6m = Equity 8.33b / Shares 540.3m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -4.0 | # QB: -2
Revenue Correlation: -29.74 | Revenue CAGR: -5.01% | SUE: -0.06 | # QB: 0
EPS current Year (2026-12-31): EPS=0.20 | Chg30d=+0.10% | Revisions=+29% | GrowthEPS=+15.5% | GrowthRev=+6.6%
EPS next Year (2027-12-31): EPS=0.22 | Chg30d=-0.31% | Revisions=+57% | GrowthEPS=+13.8% | GrowthRev=+2.7%
[Analyst] Revisions Ratio: +55% (up=7, down=1)