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Naturgy Energy Group

WBAG:GAS
Snowflake Description

Moderate growth potential second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
GAS
WBAG
€26B
Market Cap
  1. Home
  2. AT
  3. Utilities
Company description

Naturgy Energy Group, S.A., together with its subsidiaries, engages in the supply, liquefaction, regasification, transport, storage, distribution, and sale of natural gas in Spain and internationally. The last earnings update was 23 days ago. More info.


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GAS Share Price and Events
7 Day Returns
-1.5%
WBAG:GAS
0.7%
Europe Gas Utilities
-0.8%
AT Market
1 Year Returns
20.5%
WBAG:GAS
12.7%
Europe Gas Utilities
-9.6%
AT Market
GAS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Naturgy Energy Group (GAS) -1.5% 6.8% 10.9% 20.5% - -
Europe Gas Utilities 0.7% 5.4% 8.3% 12.7% 49% 33.8%
AT Market -0.8% -6.6% 0.2% -9.6% 36.8% 21.7%
1 Year Return vs Industry and Market
  • GAS outperformed the Gas Utilities industry which returned 12.7% over the past year.
  • GAS outperformed the Market in Austria which returned -9.6% over the past year.
Price Volatility
GAS
Industry
5yr Volatility vs Market

Value

 Is Naturgy Energy Group undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Naturgy Energy Group to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Naturgy Energy Group.

WBAG:GAS Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 13 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.1%
Perpetual Growth Rate 10-Year AT Government Bond Rate 0.5%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for WBAG:GAS
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AT Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 8.2%
Gas Utilities Unlevered Beta Simply Wall St/ S&P Global 0.42
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.417 (1 + (1- 25%) (65.81%))
0.747
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.51% + (0.8 * 8.18%)
7.05%

Discounted Cash Flow Calculation for WBAG:GAS using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Naturgy Energy Group is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

WBAG:GAS DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 7.05%)
2019 1,726.16 Analyst x8 1,612.42
2020 1,919.84 Analyst x8 1,675.17
2021 2,337.18 Analyst x6 1,904.95
2022 2,344.33 Analyst x3 1,784.87
2023 2,354.00 Analyst x1 1,674.14
2024 2,364.39 Est @ 0.44% 1,570.73
2025 2,375.31 Est @ 0.46% 1,474.01
2026 2,386.62 Est @ 0.48% 1,383.44
2027 2,398.23 Est @ 0.49% 1,298.57
2028 2,410.06 Est @ 0.49% 1,218.99
Present value of next 10 years cash flows €15,597.29
WBAG:GAS DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €2,410.06 × (1 + 0.51%) ÷ (7.05% – 0.51%)
€37,016.44
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €37,016.44 ÷ (1 + 7.05%)10
€18,722.58
WBAG:GAS Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €15,597.29 + €18,722.58
€34,319.87
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €34,319.87 / 996.60
€34.44
WBAG:GAS Discount to Share Price
Calculation Result
Value per share (EUR) From above. €34.50
Current discount Discount to share price of €26.56
= -1 x (€26.56 - €34.50) / €34.50
23%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Naturgy Energy Group is available for.
Intrinsic value
23%
Share price is €26.56 vs Future cash flow value of €34.5
Current Discount Checks
For Naturgy Energy Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Naturgy Energy Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Naturgy Energy Group's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Naturgy Energy Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Naturgy Energy Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WBAG:GAS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in EUR €-2.82
BME:NTGY Share Price ** BME (2019-05-23) in EUR €26.51
Europe Gas Utilities Industry PE Ratio Median Figure of 8 Publicly-Listed Gas Utilities Companies 16.43x
Austria Market PE Ratio Median Figure of 54 Publicly-Listed Companies 14.59x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Naturgy Energy Group.

WBAG:GAS PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BME:NTGY Share Price ÷ EPS (both in EUR)

= 26.51 ÷ -2.82

-9.41x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Naturgy Energy Group is loss making, we can't compare its value to the Europe Gas Utilities industry average.
  • Naturgy Energy Group is loss making, we can't compare the value of its earnings to the Austria market.
Price based on expected Growth
Does Naturgy Energy Group's expected growth come at a high price?
Raw Data
WBAG:GAS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -9.41x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts
14.3%per year
Global Gas Utilities Industry PEG Ratio Median Figure of 31 Publicly-Listed Gas Utilities Companies 1.79x
Austria Market PEG Ratio Median Figure of 32 Publicly-Listed Companies 1.12x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Naturgy Energy Group, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Naturgy Energy Group's assets?
Raw Data
WBAG:GAS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in EUR €10.99
BME:NTGY Share Price * BME (2019-05-23) in EUR €26.51
Europe Gas Utilities Industry PB Ratio Median Figure of 9 Publicly-Listed Gas Utilities Companies 1.44x
Austria Market PB Ratio Median Figure of 61 Publicly-Listed Companies 1.22x
WBAG:GAS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BME:NTGY Share Price ÷ Book Value per Share (both in EUR)

= 26.51 ÷ 10.99

2.41x

* Primary Listing of Naturgy Energy Group.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Naturgy Energy Group is overvalued based on assets compared to the Europe Gas Utilities industry average.
X
Value checks
We assess Naturgy Energy Group's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Gas Utilities industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Gas Utilities industry average (and greater than 0)? (1 check)
  5. Naturgy Energy Group has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Naturgy Energy Group expected to perform in the next 1 to 3 years based on estimates from 13 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
14.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Naturgy Energy Group expected to grow at an attractive rate?
  • Naturgy Energy Group's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • Naturgy Energy Group's earnings growth is expected to exceed the Austria market average.
  • Naturgy Energy Group's revenue growth is expected to exceed the Austria market average.
Annual Growth Rates Comparison
Raw Data
WBAG:GAS Future Growth Rates Data Sources
Data Point Source Value (per year)
WBAG:GAS Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts 14.3%
WBAG:GAS Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 13 Analysts 3%
Europe Gas Utilities Industry Earnings Growth Rate Market Cap Weighted Average 12.8%
Europe Gas Utilities Industry Revenue Growth Rate Market Cap Weighted Average 4.4%
Austria Market Earnings Growth Rate Market Cap Weighted Average 9%
Austria Market Revenue Growth Rate Market Cap Weighted Average 2.5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
WBAG:GAS Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WBAG:GAS Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 25,611 3,494 1,403 1
2022-12-31 26,938 3,702 1,560 3
2021-12-31 28,085 3,753 1,591 6
2020-12-31 26,020 3,641 1,539 9
2019-12-31 24,850 3,515 1,431 9
WBAG:GAS Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-03-31 24,302 -2,608
2018-12-31 24,339 2,881 -2,812
2018-09-30 23,774 -2,816
2018-06-30 23,794 2,864 -2,835
2018-03-31 23,504 2,534 797
2017-12-31 23,207 2,768 912
2017-09-30 22,415 2,841 994
2017-06-30 22,068 2,724 1,025
2017-03-31 22,043 3,270 1,082
2016-12-31 21,908 3,375 1,154
2016-09-30 22,986 3,379 1,269
2016-06-30 24,008 3,688 1,345

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Naturgy Energy Group's earnings are expected to grow by 14.3% yearly, however this is not considered high growth (20% yearly).
  • Naturgy Energy Group's revenue is expected to grow by 3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
WBAG:GAS Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below

All data from Naturgy Energy Group Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:GAS Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 1.40 1.40 1.40 1.00
2022-12-31 1.66 2.04 1.41 3.00
2021-12-31 1.67 2.13 1.43 10.00
2020-12-31 1.59 1.93 1.33 14.00
2019-12-31 1.45 1.50 1.42 6.00
WBAG:GAS Past Financials Data
Date (Data in EUR Millions) EPS *
2019-03-31
2018-12-31 -2.82
2018-09-30
2018-06-30 -2.83
2018-03-31 0.80
2017-12-31 0.91
2017-09-30 0.99
2017-06-30 1.02
2017-03-31 1.08
2016-12-31 1.15
2016-09-30 1.27
2016-06-30 1.34

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Naturgy Energy Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Naturgy Energy Group's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Naturgy Energy Group has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Naturgy Energy Group performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Naturgy Energy Group's growth in the last year to its industry (Gas Utilities).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Naturgy Energy Group does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Naturgy Energy Group's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Naturgy Energy Group's 1-year growth to the Europe Gas Utilities industry average as it is not currently profitable.
Earnings and Revenue History
Naturgy Energy Group's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Naturgy Energy Group Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:GAS Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 24,302.00 -2,608.00 1,143.00
2018-12-31 24,339.00 -2,812.00 1,203.00
2018-09-30 23,774.00 -2,816.00 1,604.00
2018-06-30 23,794.00 -2,835.00 1,564.00
2018-03-31 23,504.00 797.00 1,564.00
2017-12-31 23,207.00 912.00 1,177.00
2017-09-30 22,415.00 994.00 1,419.00
2017-06-30 22,068.00 1,025.00 1,382.00
2017-03-31 22,043.00 1,082.00 1,367.00
2016-12-31 21,908.00 1,154.00 1,375.00
2016-09-30 22,986.00 1,269.00 1,067.00
2016-06-30 24,008.00 1,345.00 1,067.00
2016-03-31 24,802.00 1,459.00 1,058.00
2015-12-31 26,015.00 1,537.00 1,064.00
2015-09-30 26,079.00 1,353.00 1,042.00
2015-06-30 25,959.00 1,335.00 1,000.00
2015-03-31 25,580.00 1,460.00 961.00
2014-12-31 24,697.00 1,460.00 917.00
2014-09-30 24,272.00 1,564.00 906.00
2014-06-30 23,945.00 1,597.00 908.00
2014-03-31 24,604.00 1,436.00 945.00
2013-12-31 24,322.00 1,445.00 922.00
2013-09-30 24,759.00 1,446.00 965.00
2013-06-30 24,996.00 1,454.00 983.00
2013-03-31 25,064.00 1,445.00 984.00
2012-12-31 24,904.00 1,441.00 974.00
2012-09-30 24,179.00 1,326.00 958.00
2012-06-30 23,310.00 1,270.00 939.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Naturgy Energy Group has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Naturgy Energy Group has efficiently used its assets last year compared to the Europe Gas Utilities industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Naturgy Energy Group improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Naturgy Energy Group's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Gas Utilities industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Naturgy Energy Group has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Naturgy Energy Group's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Naturgy Energy Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Naturgy Energy Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Naturgy Energy Group's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Naturgy Energy Group's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Naturgy Energy Group Company Filings, last reported 1 month ago.

WBAG:GAS Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 14,582.00 17,386.00 2,597.00
2018-12-31 14,595.00 16,749.00 1,734.00
2018-09-30 15,102.00 15,753.00 2,779.00
2018-06-30 15,220.00 15,928.00 3,818.00
2018-03-31 19,942.00 16,705.00 4,045.00
2017-12-31 18,305.00 19,392.00 3,269.00
2017-09-30 18,060.00 18,017.00 2,618.00
2017-06-30 18,246.00 17,342.00 1,752.00
2017-03-31 19,328.00 18,215.00 2,990.00
2016-12-31 19,005.00 18,670.00 2,068.00
2016-09-30 18,262.00 19,382.00 3,490.00
2016-06-30 18,793.00 18,682.00 3,044.00
2016-03-31 18,671.00 18,052.00 2,404.00
2015-12-31 18,518.00 18,894.00 2,391.00
2015-09-30 18,124.00 18,528.00 2,693.00
2015-06-30 18,410.00 19,016.00 2,497.00
2015-03-31 19,017.00 19,984.00 2,951.00
2014-12-31 18,020.00 21,175.00 3,573.00
2014-09-30 15,985.00 17,750.00 4,238.00
2014-06-30 15,437.00 19,008.00 5,877.00
2014-03-31 15,349.00 18,661.00 4,777.00
2013-12-31 14,967.00 18,880.00 4,172.00
2013-09-30 15,242.00 20,967.00 6,767.00
2013-06-30 14,987.00 20,910.00 6,870.00
2013-03-31 15,398.00 20,447.00 5,597.00
2012-12-31 14,879.00 21,081.00 4,441.00
2012-09-30 15,097.00 21,296.00 5,885.00
2012-06-30 14,845.00 21,269.00 5,573.00
  • Naturgy Energy Group's level of debt (119.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (121.6% vs 119.2% today).
  • Debt is not well covered by operating cash flow (16.6%, less than 20% of total debt).
  • Naturgy Energy Group is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess Naturgy Energy Group's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Naturgy Energy Group has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Naturgy Energy Group's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.9%
Current annual income from Naturgy Energy Group dividends. Estimated to be 5.5% next year.
If you bought €2,000 of Naturgy Energy Group shares you are expected to receive €98 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Naturgy Energy Group's pays a higher dividend yield than the bottom 25% of dividend payers in Austria (1.38%).
  • Naturgy Energy Group's dividend is above the markets top 25% of dividend payers in Austria (4.44%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
WBAG:GAS Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
Europe Gas Utilities Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 4.5%
Austria Market Average Dividend Yield Market Cap Weighted Average of 51 Stocks 3.6%
Austria Minimum Threshold Dividend Yield 10th Percentile 1%
Austria Bottom 25% Dividend Yield 25th Percentile 1.4%
Austria Top 25% Dividend Yield 75th Percentile 4.4%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

WBAG:GAS Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 1.62 2.00
2022-12-31 1.59 6.00
2021-12-31 1.51 13.00
2020-12-31 1.44 17.00
2019-12-31 1.37 16.00
WBAG:GAS Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-02-01 1.300 5.231
2019-01-30 1.300 5.375
2018-11-05 1.300 5.719
2018-07-26 1.300 5.650
2018-03-08 1.000 4.742
2018-02-16 1.000 5.374
2018-02-07 1.000 5.476
2017-02-17 1.000 5.071
2017-02-08 1.000 5.523
2016-02-05 1.000 5.723
2015-11-04 0.918 4.895
2015-05-19 0.908 4.605
2015-02-17 0.908 4.217
2014-11-04 0.897 4.235
2014-04-11 0.897 4.051
2014-03-13 0.897 4.499
2014-02-19 0.897 4.739
2013-11-05 0.896 4.899
2013-05-07 1.006 6.427
2013-03-19 1.006 6.785
2013-02-22 1.006 6.545
2012-11-06 0.391 2.914
2012-02-29 0.363 3.430
2012-02-21 0.363 2.847
2011-11-08 0.363 2.821
2011-07-29 0.363 2.858
2011-07-27 0.363 2.536
2011-02-25 0.352 2.640
2010-11-29 0.792 6.795
2010-04-28 0.792 6.772
2009-11-04 0.576 4.108
2009-10-12 0.576 4.112

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Naturgy Energy Group's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (1.1x coverage).
X
Income/ dividend checks
We assess Naturgy Energy Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Naturgy Energy Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Naturgy Energy Group has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Naturgy Energy Group's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Francisco Reynés Massanet
COMPENSATION €1,028,571
AGE 55
TENURE AS CEO 1.3 years
CEO Bio

Mr. Francisco Miguel Reynés Massanet serves as Vice-Chairman and Chief Executive Officer of Abertis Infraestructuras, S.A. Mr. Massanet has been CEO and Chairman of Gas Natural SDG, S.A since February 2018. He serves as Chief Executive Officer & Chairman at Naturgy Energy Group, S.A. since February 6, 2019. He is also the President of Holding d'Infrastructures de Transport S.A.S. Mr. Reynés Massanet has been Chief Executive Officer at Abertis Infraestructuras S.A. since 2010 and served as its Vice President since 2010. He served as the Chief Executive Officer of Corporación Uniland, S.A. He served as a Managing Director of CaixaBank, S.A. He served as Dominical Advisor of Unión Fenosa, S.A. He served as a Corporate Managing Director at Abertis Infraestructuras S.A. He served as the Chief Corporate Officer of Gas Natural SDG, S.A. Before joining Abertis, he served as General Manager of Criteria CaixaCorp, “la Caixa”’s business holding and from this position he managed its Stock Exchange flotation operation in October 2007. He served as Chairman of the Board at Cellnex Telecom, S.A. , until February 2018 and served as its Vice Chairman. He serves as Deputy Chairman at Abertis Infraestructuras S.A. He serves as a Board Member of Gas Natural Fenosa, Aguas de Barcelona, Segur Caixa Holding, Adeslas and Port Aventura. He was an Executive Director of Abertis Infraestructuras S.A. since May 26, 2009. He has been a Director of Hispasat, S.A. since July 2010. He served Chairman of Cellnex Telecom, S.A. since November 17, 2014 until February 2018. He served as Director of SANEF S.A. (formerly Societe des Autoroutes du Nord et de l'Est de la France) since December 16, 2010 until 2018. He serves as a Director of Iberpistas, Sociedad Anonima, Concesionaria Del Estado. He serves as a Director of A4 Holding S.p.A. He served as an Independent Director of Arteris S.A. until February 2018. He served as Director of Autopista Vasco - Aragonesa, C.E.S.A. (formerly, Autopista Vasco Aragonesa Concesionaria Espanola S.A.) and Abertis Airports, S.A. He served as a Director of Unión Fenosa, S.A since March 2009. He served as a Director of Eutelsat Communications Société Anonyme (formerly, Eutelsat Communications S.A.) from November 9, 2010 to June 30, 2011 and also from November 2011 to June 25, 2012. He served as a Director of VidaCaixa S.A., de Seguros y Reaseguros. He has been Director of Gas Natural SDG, S.A since 2018. He served as a Director of Gas Natural SDG, S.A. until June 26, 2009. He served as a Director of Sociedad General de Aguas de Barcelona, S.A. since February 15, 2008. He serves as Solidary board member of Iberpistas, S.A, Partícipes en Brasil II, S.L, Abertis Autopistas España S.A., Autopistes de Catalunya, S.A., Infraestructures Viàries de Catalunya, S.A., Autopistas de León, S.A., Castellana de Autopistas. He serves as President of Holding d’Infraestructures de Transport 2, S.A.S. since 18 July 2016, Partícipes en Brasil, S.A, Abertis Autopistas Chile, S.A., Cellnex Telecom, S.A., and Inversora de Infraestructuras, S.L. He also serves as Solidary board member, Abertis Telecom Saté- lites, S.A. and Societat d’Autopistes Catalanes, S.A. He is also Solidary board member, Abertis India, S.L. since 9 December 2016. He served as a Director of Boursorama SA until July 13, 2009. Mr. Reynés Massanet earned a Degree in Industrial Engineering from the Polytechnical University of Cataluña with an MBA degree from IESE Business school. He is an Ingeniero Industrial / Industrial Engineer, Mechanics specialty, from the University of Barcelona.

CEO Compensation
  • Insufficient data for Francisco to compare compensation growth.
  • Insufficient data for Francisco to establish whether their remuneration is reasonable compared to companies of similar size in .
Management Team Tenure

Average tenure and age of the Naturgy Energy Group management team in years:

4.1
Average Tenure
55
Average Age
  • The tenure for the Naturgy Energy Group management team is about average.
Management Team

Francisco Reynés Massanet

TITLE
CEO & Chairman
COMPENSATION
€1M
AGE
55
TENURE
1.3 yrs

Carlos Javier Álvarez Fernández

TITLE
Chief Financial Officer
AGE
55
TENURE
19.3 yrs

Abel Arbat

TITLE
Head of Investor Relations

Manuel Cobaleda

TITLE
GM of Legal Services
AGE
50

Carlos Salinas

TITLE
Director of Internal Audit
AGE
56
TENURE
5.3 yrs

Rosa María García

TITLE
Managing Director of España & Empl-Medgaz Infrastructure Business
AGE
49
TENURE
4.1 yrs

Steven Fernández

TITLE
Director of Capital Markets
TENURE
0.9 yrs

Jon Ganuza De Arroyabe

TITLE
Controller
Board of Directors Tenure

Average tenure and age of the Naturgy Energy Group board of directors in years:

2.7
Average Tenure
60.5
Average Age
  • The average tenure for the Naturgy Energy Group board of directors is less than 3 years, this suggests a new board.
Board of Directors

Francisco Reynés Massanet

TITLE
CEO & Chairman
COMPENSATION
€1M
AGE
55
TENURE
1.3 yrs

Ramón Ramón

TITLE
Lead Director
COMPENSATION
€354K
AGE
60

Francisco Creixell

TITLE
Independent Director
COMPENSATION
€319K
AGE
72
TENURE
4 yrs

Enrique Irazoqui

TITLE
Proprietary Director
COMPENSATION
€208K
AGE
74
TENURE
27.9 yrs

Marcelino Armenter Vidal

TITLE
Proprietary Director
COMPENSATION
€256K
AGE
61
TENURE
2.7 yrs

Helena Herrero Starkie

TITLE
Independent Director
COMPENSATION
€208K
AGE
59
TENURE
3 yrs

Rajaram Rao

TITLE
Proprietary Director
COMPENSATION
€277K
AGE
47
TENURE
2.7 yrs

Javier de Jaime Guijarro

TITLE
Proprietary Director
COMPENSATION
€153K
TENURE
1 yrs

Claudi Santiago Ponsa

TITLE
Independent Director
COMPENSATION
€118K
AGE
62
TENURE
0.9 yrs

José Antonio de Silva López de Letona

TITLE
Proprietary Director
COMPENSATION
€155K
TENURE
1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
06. Feb 19 Buy Pedro de Baranda Riva Individual 04. Feb 19 04. Feb 19 20,000 €24.20 €484,000
04. Feb 19 Buy Ramón Ramón Individual 31. Jan 19 31. Jan 19 5,000 €24.00 €120,000
20. Sep 18 Buy Enrique Irazoqui Individual 14. Sep 18 14. Sep 18 21,431 €23.36 €500,628
X
Management checks
We assess Naturgy Energy Group's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Naturgy Energy Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Naturgy Energy Group, S.A., together with its subsidiaries, engages in the supply, liquefaction, regasification, transport, storage, distribution, and sale of natural gas in Spain and internationally. The company operates through Gas and Electricity, EMEA Infrastructures, Latin America South Zone Infrastructures, Latin America North Zone Infrastructures, and Rest segments. The Gas and Electricity segment is involved in the supply of gas, electricity, and services; sale of liquefied natural gas and the sea transport business; generation and sale of electricity through hydro, coal, nuclear, and combined cycle plants, as well as through wind, mini-hydro, solar, and cogeneration in Spain; and generation and sale of electricity in Latin America and Australia. The EMEA Infrastructures segment engages in the regulated gas and electricity distribution business in Spain, as well as provides network services for customers, primarily connections and hook-ups, metering, and other actions associated with third-party access to company’s distribution network; and manages the Maghreb - Europe gas pipeline. The Latin America South Zone Infrastructures segment distributes gas and electricity in Argentina and Chile; and distributes gas in Brazil and Peru. The Latin America North Zone Infrastructures segment distributes gas in Mexico and electricity in Panama. The Rest segment is involved in the gas marketing and storage business. The company was formerly known as Gas Natural SDG, S.A. and changed its name to Naturgy Energy Group, S.A. in June 2018. Naturgy Energy Group, S.A. was founded in 1843 and is headquartered in Barcelona, Spain.

Details
Name: Naturgy Energy Group, S.A.
GAS
Exchange: WBAG
Founded: 1843
€26,419,922,095
996,602,116
Website: http://www.naturgy.com
Address: Naturgy Energy Group, S.A.
Plaza del Gas, 1,
Barcelona,
Catalonia, 08003,
Spain
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BME NTGY Ordinary Shares Bolsas y Mercados Espanoles ES EUR 02. Jan 1980
OTCPK GASN.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1980
DB GAN Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1980
LSE 0NPV Ordinary Shares London Stock Exchange GB EUR 02. Jan 1980
WBAG GAS Ordinary Shares Wiener Boerse AG AT EUR 02. Jan 1980
OTCPK GASN.Y UNSPONSORED ADR Pink Sheets LLC US USD 23. Oct 2008
Number of employees
Current staff
Staff numbers
12,700
Naturgy Energy Group employees.
Industry
Gas Utilities
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/23 22:09
End of day share price update: 2019/05/23 00:00
Last estimates confirmation: 2019/05/20
Last earnings filing: 2019/04/30
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.