How does EG4's PE Ratio compare to its peers?

EG4 is good value based on its Price-To-Earnings Ratio (8.8x) compared to the peer average (20.7x).

How does EG4's PE Ratio compare vs other companies in the Global Gas Utilities Industry?

EG4 is good value based on its Price-To-Earnings Ratio (8.8x) compared to the Global Gas Utilities industry average (14.5x).

What is EG4's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

EG4 is good value based on its Price-To-Earnings Ratio (8.8x) compared to the estimated Fair Price-To-Earnings Ratio (17.4x).

What is the Fair Price of EG4 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

EG4 (€12.15) is trading below our estimate of [[fair value]] (€20.27)

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

EG4 Stock Overview

Develops, operates, and maintains gas infrastructures in Spain and internationally. More details

EG4 fundamental analysis
Snowflake Score
Valuation	6/6
Future Growth	0/6
Past Performance	4/6
Financial Health	3/6
Dividends	3/6

Rewards

Trading at 40.1% below our estimate of its fair value

Earnings grew by 27.8% over the past year

Trading at good value compared to peers and industry

Analysts in good agreement that stock price will rise by 28.7%

Risk Analysis

Dividend of 11.93% is not well covered by earnings or free cash flows

Debt is not well covered by operating cash flow

Earnings are forecast to decline by an average of 0.06% per year for the next 3 years

My Notes

Capture your thoughts, links and company narrative

Enagás, S.A. Competitors

Lechwerke

DB:LEC

€2.5b

Gelsenwasser

DB:WWG

€1.7b

MVV Energie

XTRA:MVV1

€2.0b

Mainova

DB:MNV6

€1.9b

Price History & Performance

Summary of share price highs, lows and changes for Enagás
Historical stock prices
Current Share Price	€12.15
52 Week High	€16.03
52 Week Low	€12.00
Beta	0.56
1 Month Change	-4.03%
3 Month Change	-11.76%
1 Year Change	-23.03%
3 Year Change	-39.13%
5 Year Change	-47.76%
Change since IPO	-11.86%

Recent updates

Shareholder Returns

	EG4	DE Gas Utilities	DE Market
7D	-1.5%	-1.9%	-1.1%
1Y	-23.0%	-9.6%	8.1%

Return vs Industry: EG4 underperformed the German Gas Utilities industry which returned -9.6% over the past year.

Return vs Market: EG4 underperformed the German Market which returned 8.1% over the past year.

Price Volatility

Is EG4's price volatile compared to industry and market?
EG4 volatility
EG4 Average Weekly Movement	2.5%
Gas Utilities Industry Average Movement	3.0%
Market Average Movement	4.9%
10% most volatile stocks in DE Market	11.8%
10% least volatile stocks in DE Market	2.5%

Stable Share Price: EG4 has not had significant price volatility in the past 3 months compared to the German market.

Volatility Over Time: EG4's weekly volatility (2%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1972	1,382	Arturo Aizpiri	www.enagas.es/es/

Enagás, S.A. develops, operates, and maintains gas infrastructures in Spain and internationally. It operates through Gas Transmission, Regasification, and Storage of Gas segments. The company provides gas transmission services through primary and secondary transmission pipelines; and natural gas regasification services, as well as operates underground storage facilities.

Enagás, S.A. Fundamentals Summary

How do Enagás's earnings and revenue compare to its market cap?
EG4 fundamental statistics
Market cap	€3.16b
Earnings (TTM)	€359.33m
Revenue (TTM)	€901.17m

8.8x

P/E Ratio

3.5x

P/S Ratio

Is EG4 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
EG4 income statement (TTM)
Revenue	€901.17m
Cost of Revenue	€55.94m
Gross Profit	€845.24m
Other Expenses	€485.91m
Earnings	€359.33m

Last Reported Earnings

Sep 30, 2024

Next Earnings Date

n/a

Earnings per share (EPS)	1.38
Gross Margin	93.79%
Net Profit Margin	39.87%
Debt/Equity Ratio	129.1%

How did EG4 perform over the long term?

See historical performance and comparison

Dividends

11.9%

Current Dividend Yield

105%

Payout Ratio

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/18 02:28
End of Day Share Price	2024/12/18 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Enagás, S.A. is covered by 47 analysts. 14 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Fabrizio Spagna	Axia Financial Research
Flora Mericia Trindade	Banco BPI, S.A.
Alejandro Miranda Fournier	Banco de Madrid S.A.U.

EG4 Stock Overview

Rewards

Risk Analysis

Enagás, S.A. Competitors

DB:LEC

€2.5b

DB:WWG

€1.7b

XTRA:MVV1

€2.0b

DB:MNV6

€1.9b

Price History & Performance

Recent News & Updates

Third quarter 2024 earnings released

New major risk - Financial position

Second quarter 2024 earnings released

Blackstone Infrastructure Partners, L.P., managed by Blackstone Inc. (NYSE:BX) has reached an agreement to acquire an additional 30.2% stake in Tallgrass Energy, LP from Enagás, S.A. (BME:ENG) for $1.1 billion.

Blackstone Infrastructure Partners, L.P., managed by Blackstone Inc. (NYSE:BX) has reached an agreement to acquire an additional 30.2% stake in Tallgrass Energy, LP from Enagás, S.A. (BME:ENG) for $1.1 billion.

Blackstone Infrastructure Partners, L.P., managed by Blackstone Inc. (NYSE:BX) has reached an agreement to acquire an additional 30.2% stake in Tallgrass Energy, LP from Enagás, S.A. (BME:ENG) for $1.1 billion.

Recent updates

Third quarter 2024 earnings released

New major risk - Financial position

Second quarter 2024 earnings released

Blackstone Infrastructure Partners, L.P., managed by Blackstone Inc. (NYSE:BX) has reached an agreement to acquire an additional 30.2% stake in Tallgrass Energy, LP from Enagás, S.A. (BME:ENG) for $1.1 billion.

Blackstone Infrastructure Partners, L.P., managed by Blackstone Inc. (NYSE:BX) has reached an agreement to acquire an additional 30.2% stake in Tallgrass Energy, LP from Enagás, S.A. (BME:ENG) for $1.1 billion.

Blackstone Infrastructure Partners, L.P., managed by Blackstone Inc. (NYSE:BX) has reached an agreement to acquire an additional 30.2% stake in Tallgrass Energy, LP from Enagás, S.A. (BME:ENG) for $1.1 billion.

Now 21% undervalued

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.

Now 21% undervalued

Now 21% undervalued

First quarter 2024 earnings released

Enagás, S.A. to Report Q1, 2024 Results on Apr 23, 2024

Final dividend of €0.85 announced

Full year 2023 earnings released: EPS: €1.31 (vs €1.44 in FY 2022)

Enagás, S.A., Annual General Meeting, Mar 20, 2024

Enagás, S.A. to Report Fiscal Year 2023 Results on Feb 20, 2024

New minor risk - Profit margin trend

New minor risk - Earnings quality

Second quarter 2023 earnings released

Enagás, S.A. to Report Q2, 2023 Results on Jul 26, 2023

Upcoming dividend of €0.84 per share at 9.7% yield

Enagás, S.A. (BME:ENG) agreed to acquire 10% stake in Hanseatic Energy Hub GmbH from Fluxys Belgium SA (ENXTBR:FLUX).

Full year 2022 earnings released: EPS: €1.44 (vs €1.54 in FY 2021)

Enagás, S.A. (BME:ENG) and Fluxys Belgium SA (ENXTBR:FLUX) agreed to acquire 5% stake in Trans Adriatic Pipeline AG from Axpo Solutions AG in a deal valued at €210 million.

Enagás, S.A. (BME:ENG) reached an agreement to acquire 20% stake in BBL Company V.O.F. from Uniper Ruhrgas BBL B.V. for €75 million.

Upcoming dividend of €0.56 per share

Third quarter 2022 earnings released

Navantia S.A. acquired a 5% stake in Enagás Renovable, S.L.U. from Enagás, S.A. (BME:ENG).

Navantia S.A. acquired a 5% stake in Enagás Renovable, S.L.U. from Enagás, S.A. (BME:ENG).

Enagás, S.A. to Report Q3, 2022 Results on Oct 25, 2022

Enagás, S.A. (BME:ENG) signed a strategic cooperation agreement to acquire Albgaz.

Second quarter 2022 earnings released

Amancio Ortega acquired 5% stake in Enagás Renovable, S.L.U. from Enagás, S.A. (BME:ENG).

Hy24 acquired 30% stake in Enagás Renovable, S.L.U. from Enagás, S.A. (BME:ENG).

Upcoming dividend of €0.83 per share

Enagás, S.A. (BME:ENG) announces an Equity Buyback for 465,000 shares, for €10.7 million.

Now 20% undervalued

Enagás, S.A. to Report Q1, 2022 Results on Apr 26, 2022

Now 20% undervalued

Now 23% undervalued after recent price drop

Enagás, S.A., Annual General Meeting, Mar 30, 2022

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

Enagás, S.A. to Report Fiscal Year 2021 Results on Feb 22, 2022

Upcoming dividend of €0.55 per share

Third quarter 2021 earnings released: EPS €0.36

Second quarter 2021 earnings released

Upcoming dividend of €0.82 per share

First quarter 2021 earnings released: EPS €0.35

New 90-day low: €17.44

New 90-day low: €17.83

New 90-day low: €17.98

Third-quarter earnings released: Revenue misses expectations

Third quarter earnings released

Enagás, S.A. to Report Q3, 2020 Results on Oct 20, 2020

New 90-day low: €19.22

New 90-day low: €19.80

New 90-day low - €20.02

Blackstone Infrastructure Partners, L.P., a fund managed by The Blackstone Group Inc. (NYSE:BX), National Pension Service, GIC Special Investments Pte. Ltd. and Enagás, S.A. (BME:ENG) completed the acquisition of additional 55.3% stake in Tallgrass Energy, LP (NYSE:TGE).

Enagás, S.A. to Report Q2, 2020 Results on Jul 28, 2020