View Past PerformanceEnagás バランスシートの健全性財務の健全性 基準チェック /26Enagásの総株主資本は€2.2B 、総負債は€2.7Bで、負債比率は118.5%となります。総資産と総負債はそれぞれ€6.7Bと€4.5Bです。 Enagásの EBIT は€221.2Mで、利息カバレッジ比率3.5です。現金および短期投資は€573.3Mです。主要情報118.49%負債資本比率€2.65b負債インタレスト・カバレッジ・レシオ3.5x現金€573.30mエクイティ€2.24b負債合計€4.46b総資産€6.70b財務の健全性に関する最新情報分析記事 • Nov 15Does Enagás (BME:ENG) Have A Healthy Balance Sheet?Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...分析記事 • May 25Enagás (BME:ENG) Takes On Some Risk With Its Use Of DebtLegendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...すべての更新を表示Recent updatesお知らせ • Apr 23Enagás, S.A. (BME:ENG) has reached an agreement to acquire 31.50% stake in Teréga SAS from GIC Private Limited for approximately €570 million.Enagás, S.A. (BME:ENG) has reached an agreement to acquire 31.50% stake in Teréga SAS from GIC Private Limited for approximately €570 million on April 21, 2026. A cash consideration of €573 million will be paid by Enagás, S.A. In related separate transaction, Enagás has also completed the sale of 40% of Enagás Renovable to Hy24 for €48 million. The transaction is fully compatible with Enagás's investment plan in renewable hydrogen, contributes to improving its growth profile, and strengthens the company's dividend policy and long-term sustainability. The transaction is subject to the fulfilment of the conditions precedent customary for this type of transaction, including the required regulatory approvals. Enagás estimates that the closing will take place during the 2026 financial year.Reported Earnings • Apr 22First quarter 2026 earnings releasedFirst quarter 2026 results: EPS: €0.22. Revenue: €227.4m (up 12% from 1Q 2025). Net income: €56.9m (down 13% from 1Q 2025). Profit margin: 25% (down from 32% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Gas Utilities industry in Europe.お知らせ • Apr 22Clean H2 Infra Fund managed by Hy24 acquired an additional 80% stake in Enagás Renovable, S.L.U. from Enagás, S.A. (BME:ENG).Clean H2 Infra Fund managed by Hy24 acquired an additional 80% stake in Enagás Renovable, S.L.U. from Enagás, S.A. (BME:ENG) on April 21, 2026. Clean H2 Infra Fund managed by Hy24 completed the acquisition of an additional 80% stake in Enagás Renovable, S.L.U. from Enagás, S.A. (BME:ENG) on April 21, 2026.お知らせ • Apr 16Enagás, S.A. to Report Q1, 2026 Results on Apr 21, 2026Enagás, S.A. announced that they will report Q1, 2026 results at 9:00 AM, Romance Standard Time on Apr 21, 2026New Risk • Mar 27New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Spanish stocks, typically moving 5.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (7.5% operating cash flow to total debt). Earnings are forecast to decline by an average of 1.4% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (275% cash payout ratio). Share price has been volatile over the past 3 months (5.4% average weekly change).Valuation Update With 7 Day Price Move • Mar 27Investor sentiment improves as stock rises 17%After last week's 17% share price gain to €17.14, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 15x in the Gas Utilities industry in Europe. Total returns to shareholders of 22% over the past three years.Declared Dividend • Feb 22Final dividend of €0.49 announcedShareholders will receive a dividend of €0.49. Ex-date: 30th June 2026 Payment date: 2nd July 2026 Dividend yield will be 5.4%, which is higher than the industry average of 4.4%. Sustainability & Growth Dividend is covered by earnings (77% earnings payout ratio) but not covered by cash flows (275% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 12% over the next 3 years. However, it would need to fall by 14% to increase the payout ratio to a potentially unsustainable range.New Risk • Feb 19New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 3.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (7.5% operating cash flow to total debt). Earnings are forecast to decline by an average of 3.7% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (275% cash payout ratio).Reported Earnings • Feb 19Full year 2025 earnings: EPS and revenues exceed analyst expectationsFull year 2025 results: EPS: €1.29 (up from €1.15 loss in FY 2024). Revenue: €960.4m (up 6.1% from FY 2024). Net income: €339.1m (up €638.4m from FY 2024). Profit margin: 35% (up from net loss in FY 2024). The move to profitability was primarily driven by lower expenses. Revenue exceeded analyst estimates by 6.2%. Earnings per share (EPS) also surpassed analyst estimates by 8.1%. Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 1.2% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.お知らせ • Feb 19Enagás, S.A., Annual General Meeting, Mar 25, 2026Enagás, S.A., Annual General Meeting, Mar 25, 2026. Location: auditorio ifema sur, avenida partenon 5., madrid Spainお知らせ • Feb 03Enagás, S.A. to Report Fiscal Year 2025 Results on Feb 17, 2026Enagás, S.A. announced that they will report fiscal year 2025 results Pre-Market on Feb 17, 2026分析記事 • Jan 04Enagás (BME:ENG) Will Be Looking To Turn Around Its ReturnsTo avoid investing in a business that's in decline, there's a few financial metrics that can provide early indications...分析記事 • Dec 13Enagás, S.A.'s (BME:ENG) Intrinsic Value Is Potentially 40% Above Its Share PriceKey Insights Enagás' estimated fair value is €18.87 based on Dividend Discount Model Enagás is estimated to be 29...Upcoming Dividend • Dec 12Upcoming dividend of €0.32 per shareEligible shareholders must have bought the stock before 19 December 2025. Payment date: 23 December 2025. The company is not currently making a profit and there are not enough cash flows to support it either. Trailing yield: 7.4%. Within top quartile of Spanish dividend payers (5.3%). Higher than average of industry peers (6.0%).分析記事 • Nov 21Enagás (BME:ENG) Has Announced A Dividend Of €0.324Enagás, S.A.'s ( BME:ENG ) investors are due to receive a payment of €0.324 per share on 23rd of December. This means...Declared Dividend • Nov 20Dividend of €0.32 announcedShareholders will receive a dividend of €0.32. Ex-date: 19th December 2025 Payment date: 23rd December 2025 Dividend yield will be 5.8%, which is higher than the industry average of 4.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. The dividend is also not covered by cash flows (129% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments.分析記事 • Nov 15Does Enagás (BME:ENG) Have A Healthy Balance Sheet?Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Reported Earnings • Oct 23Third quarter 2025 earnings releasedThird quarter 2025 results: EPS: €0.12. Revenue: €240.1m (up 14% from 3Q 2024). Net income: €30.9m (down 94% from 3Q 2024). Profit margin: 13% (down from 233% in 3Q 2024). Revenue is expected to decline by 1.5% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to grow by 2.6%.お知らせ • Oct 11Enagás, S.A. to Report Q3, 2025 Results on Oct 21, 2025Enagás, S.A. announced that they will report Q3, 2025 results Pre-Market on Oct 21, 2025分析記事 • Oct 01Capital Allocation Trends At Enagás (BME:ENG) Aren't IdealWhen researching a stock for investment, what can tell us that the company is in decline? More often than not, we'll...分析記事 • Jul 30Investors Shouldn't Be Too Comfortable With Enagás' (BME:ENG) EarningsEnagás, S.A. ( BME:ENG ) announced strong profits, but the stock was stagnant. We did some digging, and we found some...お知らせ • Jul 24Enagás, S.A. (BME:ENG) acquired Axent Infraestructuras de Telecomunicaciones S.A. from Axión Infraestructuras de Telecomunicaciones, S.A.U.Enagás, S.A. (BME:ENG) acquired Axent Infraestructuras de Telecomunicaciones S.A. from Axión Infraestructuras de Telecomunicaciones, S.A.U. on July 24, 2025. A cash consideration of €37.5 million will be paid by Enagás, S.A. for 51% stake. Enagás, S.A. (BME:ENG) completed the acquisition of Axent Infraestructuras de Telecomunicaciones S.A. from Axión Infraestructuras de Telecomunicaciones, S.A.U. on July 24, 2025.Reported Earnings • Jul 23Second quarter 2025 earnings releasedSecond quarter 2025 results: Revenue: €459.3b (up €459.1b from 2Q 2024). Net income: €176.0b (up €176.3b from 2Q 2024). Profit margin: 38% (up from net loss in 2Q 2024). Revenue is expected to decline by 93% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to grow by 4.0%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance.分析記事 • Jul 23Enagás, S.A.'s (BME:ENG) Intrinsic Value Is Potentially 39% Above Its Share PriceKey Insights The projected fair value for Enagás is €18.88 based on Dividend Discount Model Enagás' €13.56 share price...お知らせ • Jul 09Enagás, S.A. to Report Q2, 2025 Results on Jul 22, 2025Enagás, S.A. announced that they will report Q2, 2025 results Pre-Market on Jul 22, 2025Upcoming Dividend • Jun 24Upcoming dividend of €0.49 per shareEligible shareholders must have bought the stock before 01 July 2025. Payment date: 03 July 2025. The company is not currently making a profit but it is cash flow positive. Trailing yield: 6.9%. Within top quartile of Spanish dividend payers (4.8%). Higher than average of industry peers (5.8%).分析記事 • Jun 16Enagás, S.A.'s (BME:ENG) Share Price Not Quite Adding UpEnagás, S.A.'s ( BME:ENG ) price-to-sales (or "P/S") ratio of 4.2x may look like a poor investment opportunity when you...分析記事 • May 25Enagás (BME:ENG) Takes On Some Risk With Its Use Of DebtLegendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...お知らせ • May 15Estación de Compresión Soto la Marina S.A.P.I. de C.V. completed the acquisition of remaining 50% stake in Estacion De Compresion Soto La Marina Sapi DE CV from Enagás, S.A. (BME:ENG) for $17 million.Estación de Compresión Soto la Marina S.A.P.I. de C.V. has reached an agreement to acquire remaining 50% stake in Estacion De Compresion Soto La Marina Sapi DE CV from Enagás, S.A. (BME:ENG) for $15 million on June 27, 2024. A cash consideration of $15 million will be paid by Estación de Compresión Soto la Marina S.A.P.I. de C.V. As part of consideration, $15 million is paid towards common equity of Estacion De Compresion Soto La Marina Sapi DE CV. Upon completion, Estación de Compresión Soto la Marina S.A.P.I. de C.V. will own 100% stake in Estacion De Compresion Soto La Marina Sapi DE CV. The sale, which will result in net capital gains of around 4 million euros for Enagás, is part of the asset rotation process announced by the company in its 2022 2030 Strategic Plan, which prioritizes decarbonization and security of supply in Spain and Europe. This transaction is subject to compliance with conditions precedent customary to this type of transactions. Estación de Compresión Soto la Marina S.A.P.I. de C.V. completed the acquisition of remaining 50% stake in Estacion De Compresion Soto La Marina Sapi DE CV from Enagás, S.A. (BME:ENG) for $17 million on May 14, 2025.Reported Earnings • May 02First quarter 2025 earnings releasedFirst quarter 2025 results: EPS: €0.25. Revenue: €203.4m (down 5.7% from 1Q 2024). Net income: €65.2m (flat on 1Q 2024). Profit margin: 32% (up from 30% in 1Q 2024). The increase in margin was driven by lower expenses. Revenue is expected to decline by 1.3% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to grow by 3.8%.お知らせ • Apr 11Enagás, S.A. to Report Q1, 2025 Results on Apr 30, 2025Enagás, S.A. announced that they will report Q1, 2025 results Pre-Market on Apr 30, 2025お知らせ • Mar 24Enagás, S.A.(BME:ENG) dropped from FTSE All-World Index (USD)Enagás, S.A.(BME:ENG) dropped from FTSE All-World Index (USD)Declared Dividend • Feb 21Final dividend of €0.49 announcedShareholders will receive a dividend of €0.49. Ex-date: 1st July 2025 Payment date: 3rd July 2025 Dividend yield will be 6.7%, which is higher than the industry average of 4.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is covered by cash flows (73% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments.お知らせ • Feb 20Enagás, S.A., Annual General Meeting, Mar 26, 2025Enagás, S.A., Annual General Meeting, Mar 26, 2025. Location: auditorioifema sur, avenida partenon 5, madrid SpainReported Earnings • Feb 19Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2024 results: €1.15 loss per share (down from €1.31 profit in FY 2023). Revenue: €913.2m (flat on FY 2023). Net loss: €299.3m (down 187% from profit in FY 2023). Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) missed analyst estimates by 49%. Revenue is expected to decline by 3.4% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to grow by 4.0%. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings.Major Estimate Revision • Feb 14Consensus EPS estimates fall by 12%The consensus outlook for fiscal year 2024 has been updated. 2024 expected loss increased from -€0.691 to -€0.771 per share. Revenue forecast of €899.3m unchanged since last update. Gas Utilities industry in Spain expected to see average net income decline 2.9% next year. Consensus price target of €15.08 unchanged from last update. Share price was steady at €12.16 over the past week.お知らせ • Feb 11Enagás, S.A. to Report Fiscal Year 2024 Results on Feb 18, 2025Enagás, S.A. announced that they will report fiscal year 2024 results Pre-Market on Feb 18, 2025Major Estimate Revision • Jan 25Consensus EPS estimates fall by 55%The consensus outlook for fiscal year 2024 has been updated. 2024 expected loss increased from -€0.323 to -€0.499 per share. Revenue forecast unchanged at €899.4m. Gas Utilities industry in Spain expected to see average net income decline 3.1% next year. Consensus price target broadly unchanged at €15.11. Share price fell 2.1% to €11.82 over the past week.Major Estimate Revision • Jan 11Consensus EPS estimates upgraded to €0.17 lossThe consensus outlook for fiscal year 2024 has been updated. 2024 losses forecast to reduce from -€0.323 to -€0.169 per share. Revenue forecast unchanged from €899.9m at last update. Gas Utilities industry in Spain expected to see average net income decline 3.1% next year. Consensus price target broadly unchanged at €15.27. Share price was steady at €11.65 over the past week.Major Estimate Revision • Dec 24Consensus EPS estimates fall by 11%The consensus outlook for fiscal year 2024 has been updated. 2024 expected loss increased from -€0.292 to -€0.323 per share. Revenue forecast of €899.9m unchanged since last update. Gas Utilities industry in Spain expected to see average net income decline 3.1% next year. Consensus price target reaffirmed at €15.57. Share price fell 3.7% to €11.78 over the past week.新しいナラティブ • Dec 23Green Hydrogen Projects And Tallgrass Divestment May Boost Earnings Despite Regulatory Challenges Divestment from Tallgrass Energy and improved credit ratings enhance flexibility for Enagás' investment plan and future earnings growth. New Risk • Dec 11New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 0.06% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (16% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Payout ratio: 105% Cash payout ratio: 101% Earnings are forecast to decline by an average of 0.06% per year for the foreseeable future.Upcoming Dividend • Dec 05Upcoming dividend of €0.32 per shareEligible shareholders must have bought the stock before 10 December 2024. Payment date: 12 December 2024. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 11%. Within top quartile of Spanish dividend payers (5.5%). Higher than average of industry peers (6.5%).New Risk • Nov 22New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 0.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (16% operating cash flow to total debt). Earnings are forecast to decline by an average of 0.1% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (122% cash payout ratio).Declared Dividend • Nov 21Dividend of €0.32 announcedShareholders will receive a dividend of €0.32. Ex-date: 10th December 2024 Payment date: 12th December 2024 Dividend yield will be 9.2%, which is higher than the industry average of 4.4%. Sustainability & Growth Dividend is covered by earnings (76% earnings payout ratio) but not covered by cash flows (122% cash payout ratio). The dividend has increased by an average of 3.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 8.2% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Oct 23Third quarter 2024 earnings releasedThird quarter 2024 results: EPS: €1.88. Revenue: €227.3m (up 8.6% from 3Q 2023). Net income: €491.3m (up 498% from 3Q 2023). Revenue is expected to decline by 3.1% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to grow by 3.6%. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings.New Risk • Aug 06New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Spanish stocks, typically moving 4.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (15% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Cash payout ratio: 104% Minor Risk Share price has been volatile over the past 3 months (4.2% average weekly change).New Risk • Jul 26New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 13% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Cash payout ratio: 104%Reported Earnings • Jul 24Second quarter 2024 earnings releasedSecond quarter 2024 results: Revenue: €226.8m (down 1.4% from 2Q 2023). Net loss: €323.1m (down 365% from profit in 2Q 2023). Revenue is forecast to decline by 3.0% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings.お知らせ • Jul 10Enagás, S.A. to Report First Half, 2024 Results on Jul 23, 2024Enagás, S.A. announced that they will report first half, 2024 results on Jul 23, 2024Buy Or Sell Opportunity • Jul 01Now 21% undervaluedOver the last 90 days, the stock has risen 2.8% to €14.10. The fair value is estimated to be €17.79, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.6% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to decline by 3.1% per annum. Earnings are also forecast to decline by 9.7% per annum over the same time period.お知らせ • Jun 28Estación de Compresión Soto la Marina S.A.P.I. de C.V. has reached an agreement to acquire remaining 50% stake in Estacion De Compresion Soto La Marina Sapi DE CV from Enagás, S.A. (BME:ENG) for $15 million.Estación de Compresión Soto la Marina S.A.P.I. de C.V. has reached an agreement to acquire remaining 50% stake in Estacion De Compresion Soto La Marina Sapi DE CV from Enagás, S.A. (BME:ENG) for $15 million on June 27, 2024. A cash consideration of $15 million will be paid by Estación de Compresión Soto la Marina S.A.P.I. de C.V. As part of consideration, $15 million is paid towards common equity of Estacion De Compresion Soto La Marina Sapi DE CV. Upon completion, Estación de Compresión Soto la Marina S.A.P.I. de C.V. will own 100% stake in Estacion De Compresion Soto La Marina Sapi DE CV. The sale, which will result in net capital gains of around 4 million euros for Enagás, is part of the asset rotation process announced by the company in its 2022 2030 Strategic Plan, which prioritizes decarbonization and security of supply in Spain and Europe. This transaction is subject to compliance with conditions precedent customary to this type of transactions.Buy Or Sell Opportunity • Jun 27Now 20% undervaluedOver the last 90 days, the stock has risen 2.9% to €14.17. The fair value is estimated to be €17.79, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.6% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to decline by 3.1% per annum. Earnings are also forecast to decline by 9.7% per annum over the same time period.Buy Or Sell Opportunity • Jun 13Now 21% undervaluedOver the last 90 days, the stock has risen 6.2% to €14.08. The fair value is estimated to be €17.78, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.6% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to decline by 3.0% per annum. Earnings are also forecast to decline by 9.7% per annum over the same time period.Reported Earnings • Apr 25First quarter 2024 earnings releasedFirst quarter 2024 results: EPS: €0.25. Revenue: €215.7m (flat on 1Q 2023). Net income: €65.3m (up 20% from 1Q 2023). Profit margin: 30% (up from 25% in 1Q 2023). Revenue is forecast to decline by 3.5% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings.お知らせ • Apr 13Enagás, S.A. to Report Q1, 2024 Results on Apr 23, 2024Enagás, S.A. announced that they will report Q1, 2024 results Pre-Market on Apr 23, 2024Declared Dividend • Mar 25Final dividend of €0.85 announcedShareholders will receive a dividend of €0.85. Ex-date: 2nd July 2024 Payment date: 4th July 2024 Dividend yield will be 11%, which is higher than the industry average of 4.4%. Sustainability & Growth Dividend is not covered by earnings (133% earnings payout ratio) nor is it covered by cash flows (110% cash payout ratio). The dividend has increased by an average of 3.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 47% to bring the payout ratio under control. However, EPS is expected to decline by 28% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio.Reported Earnings • Feb 22Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behindFull year 2023 results: EPS: €1.31 (down from €1.44 in FY 2022). Revenue: €907.6m (down 5.2% from FY 2022). Net income: €342.5m (down 8.8% from FY 2022). Profit margin: 38% (down from 39% in FY 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 3.8%. Earnings per share (EPS) exceeded analyst estimates by 7.6%. Revenue is expected to fall by 3.8% p.a. on average during the next 3 years compared to a 1.2% decline forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 5% per year.お知らせ • Feb 21Enagás, S.A., Annual General Meeting, Mar 20, 2024Enagás, S.A., Annual General Meeting, Mar 20, 2024, at 12:00 Central European Standard Time. Location: Avenida Partenón 5 28042, Madrid (Auditorio Ifema Sur) Madrid Spain Agenda: To examine and, if appropriate, approve the 2023 Annual Accounts (Balance Sheet, Income Statement, Statement of Changes in Equity, Cash Flow-Statement and Notes) and Management Report of Enagás S.A. and its Consolidated Group; to approve the Consolidated Non-Financial Information Statement included in the Enagás Group Management Report for financial year 2023; to approve, if applicable, the proposed distribution of Enagás, S.A.'s profit for 2023; to approve, if appropriate, the performance of the Board of Directors of Enagás, S.A. for financial year 2023; and to discuss other matters.お知らせ • Feb 03Enagás, S.A. to Report Fiscal Year 2023 Results on Feb 20, 2024Enagás, S.A. announced that they will report fiscal year 2023 results Pre-Market on Feb 20, 2024New Risk • Nov 09New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 31% Last year net profit margin: 46% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.6x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 96% Cash payout ratio: 91% Earnings are forecast to decline by an average of 11% per year for the foreseeable future. Minor Risk Profit margins are more than 30% lower than last year (31% net profit margin).New Risk • Jul 28New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 40% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Earnings are forecast to decline by an average of 24% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results.Reported Earnings • Jul 27Second quarter 2023 earnings releasedSecond quarter 2023 results: Revenue: €234.2m (down 3.4% from 2Q 2022). Net income: €122.2m (up €161.3m from 2Q 2022). Profit margin: 52% (up from net loss in 2Q 2022). Revenue is expected to fall by 4.3% p.a. on average during the next 3 years compared to a 2.6% decline forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 8% per year.お知らせ • Jul 06Enagás, S.A. to Report Q2, 2023 Results on Jul 26, 2023Enagás, S.A. announced that they will report Q2, 2023 results at 9:00 AM, Romance Standard Time on Jul 26, 2023Upcoming Dividend • Jun 27Upcoming dividend of €0.84 per share at 9.7% yieldEligible shareholders must have bought the stock before 04 July 2023. Payment date: 06 July 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 9.7%. Within top quartile of Spanish dividend payers (6.0%). Higher than average of industry peers (4.8%).お知らせ • Jun 03Enagás, S.A. (BME:ENG) agreed to acquire 10% stake in Hanseatic Energy Hub GmbH from Fluxys Belgium SA (ENXTBR:FLUX).Enagás, S.A. (BME:ENG) agreed to acquire 10% stake in Hanseatic Energy Hub GmbH from Fluxys Belgium SA (ENXTBR:FLUX) on June 1, 2023. The transaction is subject to compliance with the conditions precedent.Reported Earnings • Feb 24Full year 2022 earnings released: EPS: €1.44 (vs €1.54 in FY 2021)Full year 2022 results: EPS: €1.44 (down from €1.54 in FY 2021). Revenue: €957.1m (down 1.9% from FY 2021). Net income: €375.8m (down 6.9% from FY 2021). Profit margin: 39% (down from 41% in FY 2021). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to decline by 4.3% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 14% per year whereas the company’s share price has fallen by 10% per year.財務状況分析短期負債: ENGの 短期資産 ( €1.2B ) は 短期負債 ( €1.5B ) をカバーしていません。長期負債: ENGの短期資産 ( €1.2B ) は 長期負債 ( €2.9B ) をカバーしていません。デット・ツー・エクイティの歴史と分析負債レベル: ENGの 純負債対資本比率 ( 92.9% ) は 高い と見なされます。負債の削減: ENGの負債対資本比率は、過去 5 年間で167.6%から118.5%に減少しました。債務返済能力: ENGの負債は 営業キャッシュフロー によって 十分にカバーされていません ( 5.3% )。インタレストカバレッジ: ENGの負債に対する 利息支払い は EBIT ( 3.5 x coverage) によって 十分にカバーされています。貸借対照表健全な企業の発掘7D1Y7D1Y7D1YUtilities 業界の健全な企業。View Dividend企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/21 18:30終値2026/05/21 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Enagás, S.A. 18 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。31 アナリスト機関Virginia RomeroBanco de Sabadell. S.A.null nullBanco de Sabadell. S.A.Bosco Muguiro EulateBanco Santander28 その他のアナリストを表示
分析記事 • Nov 15Does Enagás (BME:ENG) Have A Healthy Balance Sheet?Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
分析記事 • May 25Enagás (BME:ENG) Takes On Some Risk With Its Use Of DebtLegendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
お知らせ • Apr 23Enagás, S.A. (BME:ENG) has reached an agreement to acquire 31.50% stake in Teréga SAS from GIC Private Limited for approximately €570 million.Enagás, S.A. (BME:ENG) has reached an agreement to acquire 31.50% stake in Teréga SAS from GIC Private Limited for approximately €570 million on April 21, 2026. A cash consideration of €573 million will be paid by Enagás, S.A. In related separate transaction, Enagás has also completed the sale of 40% of Enagás Renovable to Hy24 for €48 million. The transaction is fully compatible with Enagás's investment plan in renewable hydrogen, contributes to improving its growth profile, and strengthens the company's dividend policy and long-term sustainability. The transaction is subject to the fulfilment of the conditions precedent customary for this type of transaction, including the required regulatory approvals. Enagás estimates that the closing will take place during the 2026 financial year.
Reported Earnings • Apr 22First quarter 2026 earnings releasedFirst quarter 2026 results: EPS: €0.22. Revenue: €227.4m (up 12% from 1Q 2025). Net income: €56.9m (down 13% from 1Q 2025). Profit margin: 25% (down from 32% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Gas Utilities industry in Europe.
お知らせ • Apr 22Clean H2 Infra Fund managed by Hy24 acquired an additional 80% stake in Enagás Renovable, S.L.U. from Enagás, S.A. (BME:ENG).Clean H2 Infra Fund managed by Hy24 acquired an additional 80% stake in Enagás Renovable, S.L.U. from Enagás, S.A. (BME:ENG) on April 21, 2026. Clean H2 Infra Fund managed by Hy24 completed the acquisition of an additional 80% stake in Enagás Renovable, S.L.U. from Enagás, S.A. (BME:ENG) on April 21, 2026.
お知らせ • Apr 16Enagás, S.A. to Report Q1, 2026 Results on Apr 21, 2026Enagás, S.A. announced that they will report Q1, 2026 results at 9:00 AM, Romance Standard Time on Apr 21, 2026
New Risk • Mar 27New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Spanish stocks, typically moving 5.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (7.5% operating cash flow to total debt). Earnings are forecast to decline by an average of 1.4% per year for the foreseeable future. Minor Risks Dividend is not well covered by cash flows (275% cash payout ratio). Share price has been volatile over the past 3 months (5.4% average weekly change).
Valuation Update With 7 Day Price Move • Mar 27Investor sentiment improves as stock rises 17%After last week's 17% share price gain to €17.14, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 15x in the Gas Utilities industry in Europe. Total returns to shareholders of 22% over the past three years.
Declared Dividend • Feb 22Final dividend of €0.49 announcedShareholders will receive a dividend of €0.49. Ex-date: 30th June 2026 Payment date: 2nd July 2026 Dividend yield will be 5.4%, which is higher than the industry average of 4.4%. Sustainability & Growth Dividend is covered by earnings (77% earnings payout ratio) but not covered by cash flows (275% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to decline by 12% over the next 3 years. However, it would need to fall by 14% to increase the payout ratio to a potentially unsustainable range.
New Risk • Feb 19New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 3.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (7.5% operating cash flow to total debt). Earnings are forecast to decline by an average of 3.7% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (275% cash payout ratio).
Reported Earnings • Feb 19Full year 2025 earnings: EPS and revenues exceed analyst expectationsFull year 2025 results: EPS: €1.29 (up from €1.15 loss in FY 2024). Revenue: €960.4m (up 6.1% from FY 2024). Net income: €339.1m (up €638.4m from FY 2024). Profit margin: 35% (up from net loss in FY 2024). The move to profitability was primarily driven by lower expenses. Revenue exceeded analyst estimates by 6.2%. Earnings per share (EPS) also surpassed analyst estimates by 8.1%. Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 1.2% growth forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.
お知らせ • Feb 19Enagás, S.A., Annual General Meeting, Mar 25, 2026Enagás, S.A., Annual General Meeting, Mar 25, 2026. Location: auditorio ifema sur, avenida partenon 5., madrid Spain
お知らせ • Feb 03Enagás, S.A. to Report Fiscal Year 2025 Results on Feb 17, 2026Enagás, S.A. announced that they will report fiscal year 2025 results Pre-Market on Feb 17, 2026
分析記事 • Jan 04Enagás (BME:ENG) Will Be Looking To Turn Around Its ReturnsTo avoid investing in a business that's in decline, there's a few financial metrics that can provide early indications...
分析記事 • Dec 13Enagás, S.A.'s (BME:ENG) Intrinsic Value Is Potentially 40% Above Its Share PriceKey Insights Enagás' estimated fair value is €18.87 based on Dividend Discount Model Enagás is estimated to be 29...
Upcoming Dividend • Dec 12Upcoming dividend of €0.32 per shareEligible shareholders must have bought the stock before 19 December 2025. Payment date: 23 December 2025. The company is not currently making a profit and there are not enough cash flows to support it either. Trailing yield: 7.4%. Within top quartile of Spanish dividend payers (5.3%). Higher than average of industry peers (6.0%).
分析記事 • Nov 21Enagás (BME:ENG) Has Announced A Dividend Of €0.324Enagás, S.A.'s ( BME:ENG ) investors are due to receive a payment of €0.324 per share on 23rd of December. This means...
Declared Dividend • Nov 20Dividend of €0.32 announcedShareholders will receive a dividend of €0.32. Ex-date: 19th December 2025 Payment date: 23rd December 2025 Dividend yield will be 5.8%, which is higher than the industry average of 4.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. The dividend is also not covered by cash flows (129% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments.
分析記事 • Nov 15Does Enagás (BME:ENG) Have A Healthy Balance Sheet?Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
Reported Earnings • Oct 23Third quarter 2025 earnings releasedThird quarter 2025 results: EPS: €0.12. Revenue: €240.1m (up 14% from 3Q 2024). Net income: €30.9m (down 94% from 3Q 2024). Profit margin: 13% (down from 233% in 3Q 2024). Revenue is expected to decline by 1.5% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to grow by 2.6%.
お知らせ • Oct 11Enagás, S.A. to Report Q3, 2025 Results on Oct 21, 2025Enagás, S.A. announced that they will report Q3, 2025 results Pre-Market on Oct 21, 2025
分析記事 • Oct 01Capital Allocation Trends At Enagás (BME:ENG) Aren't IdealWhen researching a stock for investment, what can tell us that the company is in decline? More often than not, we'll...
分析記事 • Jul 30Investors Shouldn't Be Too Comfortable With Enagás' (BME:ENG) EarningsEnagás, S.A. ( BME:ENG ) announced strong profits, but the stock was stagnant. We did some digging, and we found some...
お知らせ • Jul 24Enagás, S.A. (BME:ENG) acquired Axent Infraestructuras de Telecomunicaciones S.A. from Axión Infraestructuras de Telecomunicaciones, S.A.U.Enagás, S.A. (BME:ENG) acquired Axent Infraestructuras de Telecomunicaciones S.A. from Axión Infraestructuras de Telecomunicaciones, S.A.U. on July 24, 2025. A cash consideration of €37.5 million will be paid by Enagás, S.A. for 51% stake. Enagás, S.A. (BME:ENG) completed the acquisition of Axent Infraestructuras de Telecomunicaciones S.A. from Axión Infraestructuras de Telecomunicaciones, S.A.U. on July 24, 2025.
Reported Earnings • Jul 23Second quarter 2025 earnings releasedSecond quarter 2025 results: Revenue: €459.3b (up €459.1b from 2Q 2024). Net income: €176.0b (up €176.3b from 2Q 2024). Profit margin: 38% (up from net loss in 2Q 2024). Revenue is expected to decline by 93% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to grow by 4.0%. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 75 percentage points per year, which is a significant difference in performance.
分析記事 • Jul 23Enagás, S.A.'s (BME:ENG) Intrinsic Value Is Potentially 39% Above Its Share PriceKey Insights The projected fair value for Enagás is €18.88 based on Dividend Discount Model Enagás' €13.56 share price...
お知らせ • Jul 09Enagás, S.A. to Report Q2, 2025 Results on Jul 22, 2025Enagás, S.A. announced that they will report Q2, 2025 results Pre-Market on Jul 22, 2025
Upcoming Dividend • Jun 24Upcoming dividend of €0.49 per shareEligible shareholders must have bought the stock before 01 July 2025. Payment date: 03 July 2025. The company is not currently making a profit but it is cash flow positive. Trailing yield: 6.9%. Within top quartile of Spanish dividend payers (4.8%). Higher than average of industry peers (5.8%).
分析記事 • Jun 16Enagás, S.A.'s (BME:ENG) Share Price Not Quite Adding UpEnagás, S.A.'s ( BME:ENG ) price-to-sales (or "P/S") ratio of 4.2x may look like a poor investment opportunity when you...
分析記事 • May 25Enagás (BME:ENG) Takes On Some Risk With Its Use Of DebtLegendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
お知らせ • May 15Estación de Compresión Soto la Marina S.A.P.I. de C.V. completed the acquisition of remaining 50% stake in Estacion De Compresion Soto La Marina Sapi DE CV from Enagás, S.A. (BME:ENG) for $17 million.Estación de Compresión Soto la Marina S.A.P.I. de C.V. has reached an agreement to acquire remaining 50% stake in Estacion De Compresion Soto La Marina Sapi DE CV from Enagás, S.A. (BME:ENG) for $15 million on June 27, 2024. A cash consideration of $15 million will be paid by Estación de Compresión Soto la Marina S.A.P.I. de C.V. As part of consideration, $15 million is paid towards common equity of Estacion De Compresion Soto La Marina Sapi DE CV. Upon completion, Estación de Compresión Soto la Marina S.A.P.I. de C.V. will own 100% stake in Estacion De Compresion Soto La Marina Sapi DE CV. The sale, which will result in net capital gains of around 4 million euros for Enagás, is part of the asset rotation process announced by the company in its 2022 2030 Strategic Plan, which prioritizes decarbonization and security of supply in Spain and Europe. This transaction is subject to compliance with conditions precedent customary to this type of transactions. Estación de Compresión Soto la Marina S.A.P.I. de C.V. completed the acquisition of remaining 50% stake in Estacion De Compresion Soto La Marina Sapi DE CV from Enagás, S.A. (BME:ENG) for $17 million on May 14, 2025.
Reported Earnings • May 02First quarter 2025 earnings releasedFirst quarter 2025 results: EPS: €0.25. Revenue: €203.4m (down 5.7% from 1Q 2024). Net income: €65.2m (flat on 1Q 2024). Profit margin: 32% (up from 30% in 1Q 2024). The increase in margin was driven by lower expenses. Revenue is expected to decline by 1.3% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to grow by 3.8%.
お知らせ • Apr 11Enagás, S.A. to Report Q1, 2025 Results on Apr 30, 2025Enagás, S.A. announced that they will report Q1, 2025 results Pre-Market on Apr 30, 2025
お知らせ • Mar 24Enagás, S.A.(BME:ENG) dropped from FTSE All-World Index (USD)Enagás, S.A.(BME:ENG) dropped from FTSE All-World Index (USD)
Declared Dividend • Feb 21Final dividend of €0.49 announcedShareholders will receive a dividend of €0.49. Ex-date: 1st July 2025 Payment date: 3rd July 2025 Dividend yield will be 6.7%, which is higher than the industry average of 4.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is covered by cash flows (73% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments.
お知らせ • Feb 20Enagás, S.A., Annual General Meeting, Mar 26, 2025Enagás, S.A., Annual General Meeting, Mar 26, 2025. Location: auditorioifema sur, avenida partenon 5, madrid Spain
Reported Earnings • Feb 19Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2024 results: €1.15 loss per share (down from €1.31 profit in FY 2023). Revenue: €913.2m (flat on FY 2023). Net loss: €299.3m (down 187% from profit in FY 2023). Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) missed analyst estimates by 49%. Revenue is expected to decline by 3.4% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to grow by 4.0%. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings.
Major Estimate Revision • Feb 14Consensus EPS estimates fall by 12%The consensus outlook for fiscal year 2024 has been updated. 2024 expected loss increased from -€0.691 to -€0.771 per share. Revenue forecast of €899.3m unchanged since last update. Gas Utilities industry in Spain expected to see average net income decline 2.9% next year. Consensus price target of €15.08 unchanged from last update. Share price was steady at €12.16 over the past week.
お知らせ • Feb 11Enagás, S.A. to Report Fiscal Year 2024 Results on Feb 18, 2025Enagás, S.A. announced that they will report fiscal year 2024 results Pre-Market on Feb 18, 2025
Major Estimate Revision • Jan 25Consensus EPS estimates fall by 55%The consensus outlook for fiscal year 2024 has been updated. 2024 expected loss increased from -€0.323 to -€0.499 per share. Revenue forecast unchanged at €899.4m. Gas Utilities industry in Spain expected to see average net income decline 3.1% next year. Consensus price target broadly unchanged at €15.11. Share price fell 2.1% to €11.82 over the past week.
Major Estimate Revision • Jan 11Consensus EPS estimates upgraded to €0.17 lossThe consensus outlook for fiscal year 2024 has been updated. 2024 losses forecast to reduce from -€0.323 to -€0.169 per share. Revenue forecast unchanged from €899.9m at last update. Gas Utilities industry in Spain expected to see average net income decline 3.1% next year. Consensus price target broadly unchanged at €15.27. Share price was steady at €11.65 over the past week.
Major Estimate Revision • Dec 24Consensus EPS estimates fall by 11%The consensus outlook for fiscal year 2024 has been updated. 2024 expected loss increased from -€0.292 to -€0.323 per share. Revenue forecast of €899.9m unchanged since last update. Gas Utilities industry in Spain expected to see average net income decline 3.1% next year. Consensus price target reaffirmed at €15.57. Share price fell 3.7% to €11.78 over the past week.
新しいナラティブ • Dec 23Green Hydrogen Projects And Tallgrass Divestment May Boost Earnings Despite Regulatory Challenges Divestment from Tallgrass Energy and improved credit ratings enhance flexibility for Enagás' investment plan and future earnings growth.
New Risk • Dec 11New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 0.06% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (16% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Payout ratio: 105% Cash payout ratio: 101% Earnings are forecast to decline by an average of 0.06% per year for the foreseeable future.
Upcoming Dividend • Dec 05Upcoming dividend of €0.32 per shareEligible shareholders must have bought the stock before 10 December 2024. Payment date: 12 December 2024. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 11%. Within top quartile of Spanish dividend payers (5.5%). Higher than average of industry peers (6.5%).
New Risk • Nov 22New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 0.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (16% operating cash flow to total debt). Earnings are forecast to decline by an average of 0.1% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (122% cash payout ratio).
Declared Dividend • Nov 21Dividend of €0.32 announcedShareholders will receive a dividend of €0.32. Ex-date: 10th December 2024 Payment date: 12th December 2024 Dividend yield will be 9.2%, which is higher than the industry average of 4.4%. Sustainability & Growth Dividend is covered by earnings (76% earnings payout ratio) but not covered by cash flows (122% cash payout ratio). The dividend has increased by an average of 3.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 8.2% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Oct 23Third quarter 2024 earnings releasedThird quarter 2024 results: EPS: €1.88. Revenue: €227.3m (up 8.6% from 3Q 2023). Net income: €491.3m (up 498% from 3Q 2023). Revenue is expected to decline by 3.1% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to grow by 3.6%. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings.
New Risk • Aug 06New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Spanish stocks, typically moving 4.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (15% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Cash payout ratio: 104% Minor Risk Share price has been volatile over the past 3 months (4.2% average weekly change).
New Risk • Jul 26New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 13% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Cash payout ratio: 104%
Reported Earnings • Jul 24Second quarter 2024 earnings releasedSecond quarter 2024 results: Revenue: €226.8m (down 1.4% from 2Q 2023). Net loss: €323.1m (down 365% from profit in 2Q 2023). Revenue is forecast to decline by 3.0% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings.
お知らせ • Jul 10Enagás, S.A. to Report First Half, 2024 Results on Jul 23, 2024Enagás, S.A. announced that they will report first half, 2024 results on Jul 23, 2024
Buy Or Sell Opportunity • Jul 01Now 21% undervaluedOver the last 90 days, the stock has risen 2.8% to €14.10. The fair value is estimated to be €17.79, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.6% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to decline by 3.1% per annum. Earnings are also forecast to decline by 9.7% per annum over the same time period.
お知らせ • Jun 28Estación de Compresión Soto la Marina S.A.P.I. de C.V. has reached an agreement to acquire remaining 50% stake in Estacion De Compresion Soto La Marina Sapi DE CV from Enagás, S.A. (BME:ENG) for $15 million.Estación de Compresión Soto la Marina S.A.P.I. de C.V. has reached an agreement to acquire remaining 50% stake in Estacion De Compresion Soto La Marina Sapi DE CV from Enagás, S.A. (BME:ENG) for $15 million on June 27, 2024. A cash consideration of $15 million will be paid by Estación de Compresión Soto la Marina S.A.P.I. de C.V. As part of consideration, $15 million is paid towards common equity of Estacion De Compresion Soto La Marina Sapi DE CV. Upon completion, Estación de Compresión Soto la Marina S.A.P.I. de C.V. will own 100% stake in Estacion De Compresion Soto La Marina Sapi DE CV. The sale, which will result in net capital gains of around 4 million euros for Enagás, is part of the asset rotation process announced by the company in its 2022 2030 Strategic Plan, which prioritizes decarbonization and security of supply in Spain and Europe. This transaction is subject to compliance with conditions precedent customary to this type of transactions.
Buy Or Sell Opportunity • Jun 27Now 20% undervaluedOver the last 90 days, the stock has risen 2.9% to €14.17. The fair value is estimated to be €17.79, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.6% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to decline by 3.1% per annum. Earnings are also forecast to decline by 9.7% per annum over the same time period.
Buy Or Sell Opportunity • Jun 13Now 21% undervaluedOver the last 90 days, the stock has risen 6.2% to €14.08. The fair value is estimated to be €17.78, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.6% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to decline by 3.0% per annum. Earnings are also forecast to decline by 9.7% per annum over the same time period.
Reported Earnings • Apr 25First quarter 2024 earnings releasedFirst quarter 2024 results: EPS: €0.25. Revenue: €215.7m (flat on 1Q 2023). Net income: €65.3m (up 20% from 1Q 2023). Profit margin: 30% (up from 25% in 1Q 2023). Revenue is forecast to decline by 3.5% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings.
お知らせ • Apr 13Enagás, S.A. to Report Q1, 2024 Results on Apr 23, 2024Enagás, S.A. announced that they will report Q1, 2024 results Pre-Market on Apr 23, 2024
Declared Dividend • Mar 25Final dividend of €0.85 announcedShareholders will receive a dividend of €0.85. Ex-date: 2nd July 2024 Payment date: 4th July 2024 Dividend yield will be 11%, which is higher than the industry average of 4.4%. Sustainability & Growth Dividend is not covered by earnings (133% earnings payout ratio) nor is it covered by cash flows (110% cash payout ratio). The dividend has increased by an average of 3.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 47% to bring the payout ratio under control. However, EPS is expected to decline by 28% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio.
Reported Earnings • Feb 22Full year 2023 earnings: EPS exceeds analyst expectations while revenues lag behindFull year 2023 results: EPS: €1.31 (down from €1.44 in FY 2022). Revenue: €907.6m (down 5.2% from FY 2022). Net income: €342.5m (down 8.8% from FY 2022). Profit margin: 38% (down from 39% in FY 2022). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 3.8%. Earnings per share (EPS) exceeded analyst estimates by 7.6%. Revenue is expected to fall by 3.8% p.a. on average during the next 3 years compared to a 1.2% decline forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 5% per year.
お知らせ • Feb 21Enagás, S.A., Annual General Meeting, Mar 20, 2024Enagás, S.A., Annual General Meeting, Mar 20, 2024, at 12:00 Central European Standard Time. Location: Avenida Partenón 5 28042, Madrid (Auditorio Ifema Sur) Madrid Spain Agenda: To examine and, if appropriate, approve the 2023 Annual Accounts (Balance Sheet, Income Statement, Statement of Changes in Equity, Cash Flow-Statement and Notes) and Management Report of Enagás S.A. and its Consolidated Group; to approve the Consolidated Non-Financial Information Statement included in the Enagás Group Management Report for financial year 2023; to approve, if applicable, the proposed distribution of Enagás, S.A.'s profit for 2023; to approve, if appropriate, the performance of the Board of Directors of Enagás, S.A. for financial year 2023; and to discuss other matters.
お知らせ • Feb 03Enagás, S.A. to Report Fiscal Year 2023 Results on Feb 20, 2024Enagás, S.A. announced that they will report fiscal year 2023 results Pre-Market on Feb 20, 2024
New Risk • Nov 09New minor risk - Profit margin trendThe company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 31% Last year net profit margin: 46% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.6x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 96% Cash payout ratio: 91% Earnings are forecast to decline by an average of 11% per year for the foreseeable future. Minor Risk Profit margins are more than 30% lower than last year (31% net profit margin).
New Risk • Jul 28New minor risk - Earnings qualityThe company has large one-off items impacting its financial results. One-off items were 40% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Earnings are forecast to decline by an average of 24% per year for the foreseeable future. Minor Risk Large one-off items impacting financial results.
Reported Earnings • Jul 27Second quarter 2023 earnings releasedSecond quarter 2023 results: Revenue: €234.2m (down 3.4% from 2Q 2022). Net income: €122.2m (up €161.3m from 2Q 2022). Profit margin: 52% (up from net loss in 2Q 2022). Revenue is expected to fall by 4.3% p.a. on average during the next 3 years compared to a 2.6% decline forecast for the Gas Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 8% per year.
お知らせ • Jul 06Enagás, S.A. to Report Q2, 2023 Results on Jul 26, 2023Enagás, S.A. announced that they will report Q2, 2023 results at 9:00 AM, Romance Standard Time on Jul 26, 2023
Upcoming Dividend • Jun 27Upcoming dividend of €0.84 per share at 9.7% yieldEligible shareholders must have bought the stock before 04 July 2023. Payment date: 06 July 2023. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 9.7%. Within top quartile of Spanish dividend payers (6.0%). Higher than average of industry peers (4.8%).
お知らせ • Jun 03Enagás, S.A. (BME:ENG) agreed to acquire 10% stake in Hanseatic Energy Hub GmbH from Fluxys Belgium SA (ENXTBR:FLUX).Enagás, S.A. (BME:ENG) agreed to acquire 10% stake in Hanseatic Energy Hub GmbH from Fluxys Belgium SA (ENXTBR:FLUX) on June 1, 2023. The transaction is subject to compliance with the conditions precedent.
Reported Earnings • Feb 24Full year 2022 earnings released: EPS: €1.44 (vs €1.54 in FY 2021)Full year 2022 results: EPS: €1.44 (down from €1.54 in FY 2021). Revenue: €957.1m (down 1.9% from FY 2021). Net income: €375.8m (down 6.9% from FY 2021). Profit margin: 39% (down from 41% in FY 2021). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to decline by 4.3% p.a. on average during the next 3 years, while revenues in the Gas Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 14% per year whereas the company’s share price has fallen by 10% per year.
