Naturgy Energy Group
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 22 days ago. More info.
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NTGY Share Price and Events
7 Day Returns
1 Year Returns
NTGY Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Naturgy Energy Group (NTGY) | 1.2% | 7.9% | 12.4% | 21.6% | 52.3% | 26.3% |
| Europe Gas Utilities | 1.6% | 5.4% | 8.2% | 11.8% | 50.7% | 34.2% |
| ES Market | 1.1% | -2.8% | 1.2% | -7.5% | 6.8% | -15.6% |
1 Year Return vs Industry and Market
- NTGY outperformed the Gas Utilities industry which returned 11.8% over the past year.
- NTGY outperformed the Market in Spain which returned -7.5% over the past year.
NTGY Value
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Naturgy Energy Group.
| 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 | 8.1% |
| Perpetual Growth Rate | 10-Year ES Government Bond Rate | 1.5% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year ES Govt Bond Rate | 1.5% |
| 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%) (65.17%)) |
0.746 |
| 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)
= 1.53% + (0.8 * 8.18%) |
8.07% |
Discounted Cash Flow Calculation for BME:NTGY 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.
| Levered FCF (EUR, Millions) | Source |
Present Value Discounted (@ 8.07%) |
|
|---|---|---|---|
| 2019 | 1,726.16 | Analyst x8 | 1,597.26 |
| 2020 | 1,919.84 | Analyst x8 | 1,643.82 |
| 2021 | 2,337.18 | Analyst x6 | 1,851.73 |
| 2022 | 2,344.33 | Analyst x3 | 1,718.69 |
| 2023 | 2,354.00 | Analyst x1 | 1,596.91 |
| 2024 | 2,371.56 | Est @ 0.75% | 1,488.69 |
| 2025 | 2,394.80 | Est @ 0.98% | 1,391.02 |
| 2026 | 2,422.20 | Est @ 1.14% | 1,301.87 |
| 2027 | 2,452.68 | Est @ 1.26% | 1,219.82 |
| 2028 | 2,485.51 | Est @ 1.34% | 1,143.84 |
| Present value of next 10 years cash flows | €14,953.65 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= €2,485.51 × (1 + 1.53%) ÷ (8.07% – 1.53%) |
€38,561.16 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= €38,561.16 ÷ (1 + 8.07%)10 |
€17,745.92 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= €14,953.65 + €17,745.92 |
€32,699.57 |
| Equity Value per Share (EUR) |
= Total value / Shares Outstanding
= €32,699.57 / 996.60 |
€32.81 |
| Calculation | Result | |
|---|---|---|
| Value per share (EUR) | From above. | €32.81 |
| Current discount | Discount to share price of
€26.77
= -1 x (€26.77 - €32.81) / €32.81 |
18.4% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Naturgy Energy Group's share price is below the future cash flow value, but not 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?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-03-31) in EUR | €-2.82 |
| BME:NTGY Share Price ** | BME (2019-05-22) in EUR | €26.77 |
| Europe Gas Utilities Industry PE Ratio | Median Figure of 8 Publicly-Listed Gas Utilities Companies | 16.21x |
| Spain Market PE Ratio | Median Figure of 133 Publicly-Listed Companies | 17.61x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Naturgy Energy Group.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = BME:NTGY Share Price ÷ EPS (both in EUR) = 26.77 ÷ -2.82 |
-9.5x |
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 Spain market.
Price based on expected Growth
Does
Naturgy Energy Group's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | -9.5x |
| 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 |
| Spain Market PEG Ratio | Median Figure of 77 Publicly-Listed Companies | 1.57x |
*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?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-31) in EUR | €10.99 |
| BME:NTGY Share Price * | BME (2019-05-22) in EUR | €26.77 |
| Europe Gas Utilities Industry PB Ratio | Median Figure of 9 Publicly-Listed Gas Utilities Companies | 1.45x |
| Spain Market PB Ratio | Median Figure of 179 Publicly-Listed Companies | 1.7x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = BME:NTGY Share Price ÷ Book Value per Share (both in EUR) = 26.77 ÷ 10.99 |
2.44x |
* 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.
Value checks
We assess Naturgy Energy Group's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Gas Utilities industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Gas Utilities industry average (and greater than 0)? (1 check) Naturgy Energy Group has a total score of 0/6, 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.
NTGY Future Performance
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!
Earnings growth vs Low Risk Savings
- Naturgy Energy Group's earnings growth is expected to exceed the low risk savings rate of 1.5%.
Growth vs Market Checks
- Naturgy Energy Group's earnings growth is expected to exceed the Spain market average.
- Naturgy Energy Group's revenue growth is positive but not above the Spain market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| BME:NTGY Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts | 14.3% |
| BME:NTGY Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 13 Analysts | 3.9% |
| 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% |
| Spain Market Earnings Growth Rate | Market Cap Weighted Average | 8.4% |
| Spain Market Revenue Growth Rate | Market Cap Weighted Average | 4% |
*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
| 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 |
| 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 | 24,101 | 3,515 | 1,431 | 10 |
| 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.
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.
| 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 |
| 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.
Future performance checks
We assess Naturgy Energy Group's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Naturgy Energy Group has a total score of 2/6, 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.
NTGY 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
Past Earnings growth analysis
- 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
All data from Naturgy Energy Group Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| 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.
Past performance checks
We assess Naturgy Energy Group's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Gas Utilities industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
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.
NTGY 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.
- 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
Assets
Liabilities and shares
- 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.
All data from Naturgy Energy Group Company Filings, last reported 1 month ago.
| 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.
Financial health checks
We assess Naturgy Energy Group's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Naturgy Energy Group has a total score of 2/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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.
NTGY 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
If you bought
€2,000 of
Naturgy Energy Group
shares you are expected to receive
€97
in your first year as a dividend.
Dividend Amount
- Naturgy Energy Group's pays a higher dividend yield than the bottom 25% of dividend payers in Spain (2.22%).
- Naturgy Energy Group's dividend is below the markets top 25% of dividend payers in Spain (5.12%).
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.
| 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% |
| Spain Market Average Dividend Yield | Market Cap Weighted Average of 76 Stocks | 4.4% |
| Spain Minimum Threshold Dividend Yield | 10th Percentile | 1.3% |
| Spain Bottom 25% Dividend Yield | 25th Percentile | 2.2% |
| Spain Top 25% Dividend Yield | 75th Percentile | 5.1% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| 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 |
| Date (Data in €) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-02-01 | 1.300 | 5.235 |
| 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.
Income/ dividend checks
We assess Naturgy Energy Group's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.3%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- 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) Naturgy Energy Group has a total score of 2/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
NTGY Management
CEO
| 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.
- Francisco's remuneration is lower than average for companies of similar size in Spain.
Management Team Tenure
Average tenure and age of the Naturgy Energy Group management team in years:
- The tenure for the Naturgy Energy Group management team is about average.
Management Team
Francisco Reynés Massanet
CEO & Chairman
€1M
55
1.3 yrs
Carlos Javier Álvarez Fernández
Chief Financial Officer
55
19.3 yrs
Abel Arbat
Head of Investor Relations
Manuel Cobaleda
GM of Legal Services
50
Carlos Salinas
Director of Internal Audit
56
5.3 yrs
Rosa María García
Managing Director of España & Empl-Medgaz Infrastructure Business
49
4.1 yrs
Steven Fernández
Director of Capital Markets
0.9 yrs
Jon Ganuza De Arroyabe
Controller
Board of Directors Tenure
Average tenure and age of the Naturgy Energy Group board of directors in years:
- 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
CEO & Chairman
€1M
55
1.3 yrs
Ramón Ramón
Lead Director
€354K
60
Francisco Creixell
Independent Director
€319K
72
4 yrs
Enrique Irazoqui
Proprietary Director
€208K
74
27.9 yrs
Marcelino Armenter Vidal
Proprietary Director
€256K
61
2.7 yrs
Helena Herrero Starkie
Independent Director
€208K
59
3 yrs
Rajaram Rao
Proprietary Director
€277K
47
2.7 yrs
Javier de Jaime Guijarro
Proprietary Director
€153K
1 yrs
Claudi Santiago Ponsa
Independent Director
€118K
62
0.9 yrs
José Antonio de Silva López de Letona
Proprietary Director
€155K
1 yrs
Who owns this company?
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 | ||
Management checks
We assess Naturgy Energy Group's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) 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.
NTGY News
Simply Wall St News
What Do You Get For Owning Naturgy Energy Group SA (BME:NTGY)?
Your equity share is granted in return for the capital provided to the business to operate, and in order for an investment to be successful the business has to create earnings from the funds that make up this capital. … Therefore, looking at how efficiently Naturgy Energy Group is able to use capital to create earnings will help us understand your potential return. … Naturgy Energy Group's Return On Capital Employed
Simply Wall St - – Full articleWho Are The Major Shareholders Of Naturgy Energy Group SA (BME:NTGY)?
In this article, I'm going to take a look at Naturgy Energy Group SA’s (BME:NTGY) latest ownership structure, a non-fundamental factor which is important, but remains a less discussed subject among investors. … Ownership structure of a company has been found to affect share performance over time. … View our latest analysis for Naturgy Energy Group
Simply Wall St - – Full articleNaturgy Energy Group SA (BME:NTGY): Immense Growth Potential?
Looking at Naturgy Energy Group SA's (BME:NTGY) earnings update in March 2018, … with earnings expected to grow by a high double-digit of 72.27% in the upcoming year, … 5-year average growth rate of -3.90%.
Simply Wall St - – Full articleWill Naturgy Energy Group SA (BME:NTGY) Continue To Underperform Its Industry?
Naturgy Energy Group SA’s (BME:NTGY) most recent return on equity was a substandard 5.53% relative to its industry performance of 10.82% over the past year. … Though NTGY's recent performance is underwhelming, it is useful to understand what ROE is made up of and how it should be interpreted. … See our latest analysis for Naturgy Energy Group
Simply Wall St - – Full articleIs Gas Natural SDG SA (BME:NTGY) A Sell At Its Current PE Ratio?
Yes, this expensive multiple can initially be deterring, but there are many company-specific elements which are not captured in such a static ratio – such as its growth outlook and debt obligations … In this article, I am going to take you through some key things to consider in order to identify which multiple is the most relevant for
Simply Wall St - – Full articleNTGY 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. |
| NTGY | |
| Exchange: | BME |
| Founded: | 1843 |
| €26,679,038,645 | |
| 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
Industry
| Gas Utilities | |
| Utilities |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/05/22 20:56 |
| End of day share price update: | 2019/05/22 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.
