EnQuest Past Earnings Performance
Past criteria checks 1/6
EnQuest's earnings have been declining at an average annual rate of -6.8%, while the Oil and Gas industry saw earnings declining at 2.4% annually. Revenues have been growing at an average rate of 0.9% per year. EnQuest's return on equity is 0.3%, and it has net margins of 0.1%.
Key information
-6.83%
Earnings growth rate
-5.17%
EPS growth rate
| Oil and Gas Industry Growth | 21.81% |
| Revenue growth rate | 0.94% |
| Return on equity | 0.30% |
| Net Margin | 0.14% |
| Last Earnings Update | 31 Dec 2025 |
Recent past performance updates
Recent updates
Narrative Update • Jul 27
ENQ: Commodity Support And Portfolio Management Will Drive Medium Term Upside
Analysts have raised EnQuest's implied fair value to £0.39 per share from £0.35, reflecting higher Street price targets up to £0.35 and updated views on revenue growth, discount rate and future P/E assumptions. Analyst Commentary Recent Street research on EnQuest points to a cluster of higher price targets, which gives you a window into how major firms are currently thinking about valuation, execution and risk.Narrative Update • Jul 13
ENQ: Commodity Support And Portfolio Execution Will Drive Medium Term Upside
EnQuest's updated analyst price targets, moving from £0.29 to £0.35 per share, reflect analysts' incorporation of recent research that highlights portfolio actions and commodity price support, along with revised assumptions for fair value, discount rate, revenue trends, profit margins and future P/E. Analyst Commentary Recent research on EnQuest has centred on how valuation lines up with its current portfolio positioning and commodity exposure, with several bullish analysts updating their fair value work and price targets in quick succession.
Narrative Update • Jun 29
ENQ: Gulf Conflict Pricing Support Will Likely Prove Unsustainable Over Time
EnQuest's analyst price targets have moved higher to £0.25 and £0.29, supported by stronger value arguments tied to commodity pricing and recent portfolio moves. This has prompted an upward revision in the fair value estimate to £0.21 and a higher assumed future P/E of 12.5x.
Narrative Update • Jun 15
ENQ: Gulf Conflict Pricing And Portfolio Actions Will Support Future Cash Flow
EnQuest's updated analyst price target has moved up to £0.41 per share, with analysts pointing to a higher fair value estimate, a lower discount rate, and recent price target increases from £0.15 to £0.25 at Jefferies and from £0.25 to £0.29 at JPMorgan as key supports. Analyst Commentary Recent Street research shows a clear tilt toward more constructive views on EnQuest, with bullish analysts lifting price targets and pointing to specific supports for valuation.Narrative Update • Jun 01
ENQ: Persistent Geopolitical Risk Premium Will Support Medium Term Upside
Narrative update on EnQuest EnQuest's analyst price target has been reset higher, with the fair value estimate moving from about £0.19 to roughly £0.30. Analysts are factoring in updated assumptions on discount rate, revenue trends, profit margins and a higher forward P/E, following recent rating and target changes around the evolving geopolitical risk premium in oil and gas markets.Narrative Update • May 18
ENQ: Persistent Geopolitical Risk Premium Will Support Cash Flow And Margin Strength
EnQuest's analyst price target has shifted within a tight £0.01 range, as analysts factor in a slightly higher discount rate, more conservative revenue growth assumptions, and a modestly stronger profit margin outlook following recent rating and target changes related to the evolving geopolitical risk premium in oil and gas prices. Analyst Commentary Recent research updates around EnQuest have centered on how the evolving geopolitical risk premium in oil and gas prices feeds into valuation assumptions, with JPMorgan and other bullish analysts refining their views on discount rates, revenue profiles, and margin potential.Narrative Update • May 02
ENQ: Geopolitical Risk Premium Will Support Upgraded Overweight Outlook And Earnings Power
Analysts have lifted their fair value estimate for EnQuest from £0.33 to £0.41, citing revised assumptions for revenue growth, profit margins and a lower future P/E multiple following recent price target adjustments and an upgrade to Overweight. Analyst Commentary Recent Street research on EnQuest has centered on revised price targets and a ratings upgrade, with JPMorgan moving to an Overweight stance and adjusting its valuation framework around oil price risk.Narrative Update • Apr 17
ENQ: Persistent Geopolitical Pricing Risk Will Likely Cap Future Upside Potential
Analysts have trimmed their fair value estimate for EnQuest slightly to £0.15 per share, reflecting updated discount rate assumptions, a modestly weaker revenue outlook, and stronger margin and P/E expectations following recent price target moves that included both a £0.01 reduction and a £0.01 increase on JPMorgan's revised £0.25 target. Analyst Commentary Recent research moves around EnQuest underline that sentiment is mixed, even with an upgraded recommendation and a higher headline price target of 25 GBp from JPMorgan.Narrative Update • Apr 03
ENQ: Persistent Geopolitical Premium Dependence Will Likely Constrain Future Risk Reward
Analysts have raised EnQuest's fair value estimate from £0.11 to £0.15 per share, reflecting a revised £25 price target. They also note that a persistent geopolitical risk premium in oil markets supports a modestly higher P/E and slightly stronger margins than previously assumed.Narrative Update • Mar 20
ENQ: Geopolitical Risk Premium Will Support Repriced Cash Flows And Earnings Power
Analysts have lifted their price target on EnQuest shares from £0.11 to £0.25, citing a shift in perceived oil and gas price risk that supports a higher fair value estimate and a lower discount rate, despite more conservative assumptions for revenue growth and profit margins and a higher future P/E. Analyst Commentary Recent research has highlighted a more constructive stance on EnQuest, with price targets moving to £0.25 per share and ratings shifting to more positive views.Narrative Update • Mar 06
ENQ: Geopolitical Risk Premium Reliance Will Likely Pressure Future Risk Reward
Narrative Update on EnQuest Analysts have lifted their EnQuest price target from £0.0795 to £0.1145, citing a reassessment of fair value and risk as they factor in a sustained geopolitical risk premium on oil and gas prices. Analyst Commentary The latest move from JPMorgan, which raised its rating on EnQuest to Overweight and set a new price target of 25 GBp from 11 GBp, is anchored on the view that ongoing geopolitical tensions could keep a risk premium embedded in oil and gas prices.Narrative Update • Feb 20
ENQ: Vietnam Block Extension And Higher Output Will Support Medium Term Upside
Analysts have lifted their fair value estimate for EnQuest from £0.18 to about £0.19, citing updated assumptions for discount rates, revenue trends, margins and future P/E. These updates feed into a slightly higher price target.Narrative Update • Feb 05
ENQ: Higher 2025 Production Guidance Will Support A Constructive Medium Term Outlook
Analysts have reduced their fair value estimate for EnQuest from £0.18 to £0.18 per share, citing updated assumptions on discount rates, revenue growth, profit margins and future P/E that together indicate a slightly more cautious outlook on the shares. What's in the News EnQuest issued full year 2025 production guidance, with 2025 production expected to be at or above the top end of the Group's guidance range of 40 Kboed to 45 Kboed, including pro forma Vietnam volumes (Key Developments).Narrative Update • Jan 22
ENQ: Future Margin And Revenue Headwinds Will Likely Weigh On Risk Reward
Narrative update on EnQuest The analyst price target for EnQuest has edged lower to £0.08, with the small reduction grounded in updated analyst assumptions around fair value, discount rate, revenue trends and profit margins, while the forward P/E view has been left broadly unchanged. What's in the News EnQuest issued full year 2025 production guidance, indicating that full year production is expected to be at, or above, the top end of its Group guidance range of 40 Kboed to 45 Kboed, including pro forma Vietnam volumes (Key Developments).Analysis Article • Jan 15
Insufficient Growth At EnQuest PLC (LON:ENQ) Hampers Share Price
With a price-to-sales (or "P/S") ratio of 0.3x EnQuest PLC ( LON:ENQ ) may be sending bullish signals at the moment...Narrative Update • Jan 08
ENQ: Higher 2025 Production Guidance Will Support A Constructive Medium Term Outlook
Analysts have trimmed their fair value estimate for EnQuest from about £0.19 to £0.18 per share, pointing to slightly softer revenue expectations, a modestly higher discount rate, and only marginal changes to profit margin and forward P/E assumptions. What's in the News EnQuest issued full year 2025 production guidance, with management expecting production to be at, or above, the top end of its 40 Kboed to 45 Kboed range, including pro forma Vietnam volumes (company guidance).Narrative Update • Dec 21
ENQ: Future Profit Margin Compression Will Likely Undermine Risk Reward Profile
Analysts have trimmed their price target on EnQuest from approximately £0.12 to £0.08 per share, citing slightly weaker long term revenue growth assumptions, a lower projected profit margin, and a modestly higher forward P/E multiple that together temper the stock’s risk reward profile. What's in the News Reaffirmed full year 2025 production guidance at 40,000 to 45,000 boed, supported by strong underlying asset performance and optimised output at Magnus (company guidance).Narrative Update • Dec 07
ENQ: Future Production Levels Will Support A Constructive Medium Term Outlook
Analysts have trimmed their price target on EnQuest slightly, citing a modest downward revision in fair value estimates to around $0.19 per share. This reflects expectations for slightly weaker margins and slower growth, partially offset by a higher projected future P/E multiple.Narrative Update • Nov 23
ENQ: Improved Margins and Production Efficiency Will Support Bullish Outlook
Narrative Update on EnQuest EnQuest's analyst price target has been modestly revised downward from 24 GBp to 14 GBp. Analysts now project improved profit margins and discount rates but temper expectations amid mixed sector outlooks and valuation adjustments. Analyst Commentary Recent research updates have offered a blended view of EnQuest's outlook, with both opportunities and risks highlighted for investors.Narrative Update • Nov 03
ENQ: Indonesia Expansion And Solid Output Will Drive Future Returns
Analysts modestly adjusted EnQuest's price target, with new estimates reflecting a slight decrease in future price-earnings expectations. Research suggests steady fundamentals but limited immediate growth prospects.Narrative Update • Oct 20
Southeast Asia And Kraken Projects Will Shape Prospects Amid Risks
Analysts have lowered their fair value estimate for EnQuest from £0.20 to £0.19. This change reflects updated industry perspectives and recent research highlighting moderate growth expectations and sector positioning.
New Narrative • Feb 10
Veri Energy's Expansion Into Transitional Energy Projects Will Drive Future Opportunities
Strong operational efficiency and a differentiated tax position enhance EnQuest's competitiveness, supporting revenue growth and improved net margins.Analysis Article • Feb 22
Is EnQuest PLC (LON:ENQ) Trading At A 46% Discount?
Key Insights Using the 2 Stage Free Cash Flow to Equity, EnQuest fair value estimate is UK£0.35 EnQuest is estimated to...Analysis Article • Nov 08
Is EnQuest (LON:ENQ) Using Too Much Debt?
Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Analysis Article • May 26
Need To Know: Analysts Just Made A Substantial Cut To Their EnQuest PLC (LON:ENQ) Estimates
Market forces rained on the parade of EnQuest PLC ( LON:ENQ ) shareholders today, when the analysts downgraded their...Analysis Article • Apr 28
Here's Why EnQuest (LON:ENQ) Has A Meaningful Debt Burden
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Analysis Article • Feb 17
EnQuest's (LON:ENQ) Stock Price Has Reduced 51% In The Past Three Years
EnQuest PLC ( LON:ENQ ) shareholders will doubtless be very grateful to see the share price up 38% in the last quarter...Analysis Article • Jan 13
What Kind Of Shareholders Own EnQuest PLC (LON:ENQ)?
A look at the shareholders of EnQuest PLC ( LON:ENQ ) can tell us which group is most powerful. Large companies usually...Analysis Article • Dec 09
How Much Is EnQuest PLC (LON:ENQ) CEO Getting Paid?
Amjad Bseisu has been the CEO of EnQuest PLC ( LON:ENQ ) since 2010, and this article will examine the executive's...Revenue & Expenses Breakdown
Revenue & Expenses Breakdown
How EnQuest makes and spends money. Based on latest reported earnings, on an LTM basis.
Earnings and Revenue History
| Date | Revenue | Earnings | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 31 Dec 25 | 1,118 | 2 | 7 | 0 |
| 30 Sep 25 | 1,131 | -54 | 7 | 0 |
| 30 Jun 25 | 1,144 | -110 | 6 | 0 |
| 31 Mar 25 | 1,162 | -8 | 6 | 0 |
| 31 Dec 24 | 1,181 | 94 | 6 | 0 |
| 30 Sep 24 | 1,242 | 57 | 7 | 0 |
| 30 Jun 24 | 1,303 | 21 | 9 | 0 |
| 31 Mar 24 | 1,395 | -5 | 8 | 0 |
| 31 Dec 23 | 1,487 | -31 | 6 | 0 |
| 30 Sep 23 | 1,636 | -148 | 6 | 0 |
| 30 Jun 23 | 1,785 | -266 | 6 | 0 |
| 31 Mar 23 | 1,819 | -154 | 7 | 0 |
| 31 Dec 22 | 1,854 | -41 | 8 | 0 |
| 30 Sep 22 | 1,738 | 298 | 5 | 0 |
| 30 Jun 22 | 1,623 | 637 | 3 | 0 |
| 31 Mar 22 | 1,445 | 507 | 2 | 0 |
| 31 Dec 21 | 1,266 | 377 | 0 | 0 |
| 30 Sep 21 | 1,086 | 162 | 2 | 0 |
| 30 Jun 21 | 906 | -54 | 3 | 0 |
| 31 Mar 21 | 885 | -262 | 4 | 0 |
| 31 Dec 20 | 864 | -470 | 6 | 0 |
| 30 Sep 20 | 1,067 | -718 | 6 | 0 |
| 30 Jun 20 | 1,270 | -966 | 6 | 0 |
| 31 Mar 20 | 1,458 | -708 | 7 | 0 |
| 31 Dec 19 | 1,646 | -449 | 8 | 0 |
| 30 Sep 19 | 1,605 | -161 | 5 | 0 |
| 30 Jun 19 | 1,563 | 128 | 2 | 0 |
| 31 Mar 19 | 1,431 | 128 | 3 | 0 |
| 31 Dec 18 | 1,298 | 127 | 4 | 0 |
| 30 Sep 18 | 1,067 | 40 | 5 | 0 |
| 30 Jun 18 | 836 | -47 | 7 | 0 |
| 31 Mar 18 | 732 | -54 | 4 | 0 |
| 31 Dec 17 | 627 | -61 | 1 | 0 |
| 30 Sep 17 | 693 | 1 | 4 | 0 |
| 30 Jun 17 | 758 | 63 | 7 | 0 |
| 31 Mar 17 | 778 | 124 | 9 | 0 |
| 31 Dec 16 | 798 | 185 | 11 | 0 |
| 30 Sep 16 | 837 | -261 | 13 | 0 |
| 30 Jun 16 | 876 | -707 | 15 | 0 |
| 31 Mar 16 | 892 | -733 | 15 | 0 |
| 31 Dec 15 | 909 | -759 | 15 | 0 |
| 30 Sep 15 | 924 | -449 | 17 | 0 |
Quality Earnings: ENQ has a large one-off gain of $393.0M impacting its last 12 months of financial results to 31st December, 2025.
Growing Profit Margin: ENQ's current net profit margins (0.1%) are lower than last year (7.9%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: ENQ has become profitable over the past 5 years, growing earnings by -6.8% per year.
Accelerating Growth: ENQ's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: ENQ had negative earnings growth (-98.3%) over the past year, making it difficult to compare to the Oil and Gas industry average (38.7%).
Return on Equity
High ROE: ENQ's Return on Equity (0.3%) is considered low.
Return on Assets
Return on Capital Employed
Discover strong past performing companies
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/07/31 15:41 |
| End of Day Share Price | 2026/07/31 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/12/31 |
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 |
| |
| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* 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.
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 Github.
Analyst Sources
EnQuest PLC is covered by 24 analysts. 6 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 |
|---|---|
| Alessandro Pozzi | Barclays |
| David Round | BMO Capital Markets Equity Research |
| Cian Evans-Cowie | BofA Global Research |