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Eni

BIT:ENI
Snowflake Description

Average dividend payer and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ENI
BIT
€53B
Market Cap
  1. Home
  2. IT
  3. Energy
Company description

Eni S.p.A. engages in the oil and gas, electricity generation and sale, and petrochemicals businesses. The last earnings update was 25 days ago. More info.


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ENI Share Price and Events
7 Day Returns
4%
BIT:ENI
3.5%
IT Oil and Gas
0.8%
IT Market
1 Year Returns
-10.3%
BIT:ENI
-5.4%
IT Oil and Gas
-9.1%
IT Market
ENI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Eni (ENI) 4% -3.8% -2.2% -10.3% 10.7% -20.6%
IT Oil and Gas 3.5% -2.6% 0.1% -5.4% 4.3% -15%
IT Market 0.8% -3.4% 3.3% -9.1% -6% -33.7%
1 Year Return vs Industry and Market
  • ENI underperformed the Oil and Gas industry which returned -5.4% over the past year.
  • ENI underperformed the Market in Italy which returned -9.1% over the past year.
Price Volatility
ENI
Industry
5yr Volatility vs Market

ENI Value

 Is Eni 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 Eni 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 Eni.

BIT:ENI Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 23 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 13.9%
Perpetual Growth Rate 10-Year IT Government Bond Rate 2.9%

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 BIT:ENI
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IT Govt Bond Rate 2.9%
Equity Risk Premium S&P Global 9%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.92
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.917 (1 + (1- 24%) (59.14%))
1.22
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.22
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.93% + (1.22 * 9.02%)
13.94%

Discounted Cash Flow Calculation for BIT:ENI using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Eni 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.

BIT:ENI DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 13.94%)
2019 5,120.60 Analyst x10 4,494.03
2020 5,366.24 Analyst x10 4,133.32
2021 5,962.79 Analyst x5 4,030.82
2022 6,042.33 Analyst x3 3,584.79
2023 8,226.00 Analyst x1 4,283.14
2024 9,078.05 Est @ 10.36% 4,148.40
2025 9,816.18 Est @ 8.13% 3,936.81
2026 10,461.28 Est @ 6.57% 3,682.15
2027 11,034.60 Est @ 5.48% 3,408.70
2028 11,555.05 Est @ 4.72% 3,132.70
Present value of next 10 years cash flows €38,834.85
BIT:ENI DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €11,555.05 × (1 + 2.93%) ÷ (13.94% – 2.93%)
€108,045.45
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €108,045.45 ÷ (1 + 13.94%)10
€29,292.26
BIT:ENI Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €38,834.85 + €29,292.26
€68,127.11
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €68,127.11 / 3,601.14
€18.92
BIT:ENI Discount to Share Price
Calculation Result
Value per share (EUR) From above. €18.92
Current discount Discount to share price of €14.84
= -1 x (€14.84 - €18.92) / €18.92
21.6%

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

Current Discount
Amount off the current price Eni is available for.
Intrinsic value
22%
Share price is €14.84 vs Future cash flow value of €18.92
Current Discount Checks
For Eni to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Eni's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Eni'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 Eni's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Eni's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BIT:ENI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in EUR €1.19
BIT:ENI Share Price ** BIT (2019-05-17) in EUR €14.84
Europe Oil and Gas Industry PE Ratio Median Figure of 90 Publicly-Listed Oil and Gas Companies 10.25x
Italy Market PE Ratio Median Figure of 238 Publicly-Listed Companies 15.54x

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

** Primary Listing of Eni.

BIT:ENI PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BIT:ENI Share Price ÷ EPS (both in EUR)

= 14.84 ÷ 1.19

12.51x

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

  • Eni is overvalued based on earnings compared to the Europe Oil and Gas industry average.
  • Eni is good value based on earnings compared to the Italy market.
Price based on expected Growth
Does Eni's expected growth come at a high price?
Raw Data
BIT:ENI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.51x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 23 Analysts
11%per year
Europe Oil and Gas Industry PEG Ratio Median Figure of 59 Publicly-Listed Oil and Gas Companies 0.96x
Italy Market PEG Ratio Median Figure of 157 Publicly-Listed Companies 1.42x

*Line of best fit is calculated by linear regression .

BIT:ENI PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.51x ÷ 11%

1.13x

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

  • Eni is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Eni's assets?
Raw Data
BIT:ENI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in EUR €14.48
BIT:ENI Share Price * BIT (2019-05-17) in EUR €14.84
Italy Oil and Gas Industry PB Ratio Median Figure of 5 Publicly-Listed Oil and Gas Companies 1.02x
Italy Market PB Ratio Median Figure of 318 Publicly-Listed Companies 1.43x
BIT:ENI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BIT:ENI Share Price ÷ Book Value per Share (both in EUR)

= 14.84 ÷ 14.48

1.02x

* Primary Listing of Eni.

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

  • Eni is good value based on assets compared to the IT Oil and Gas industry average.
X
Value checks
We assess Eni'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 Oil and Gas 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 Oil and Gas industry average (and greater than 0)? (1 check)
  5. Eni has a total score of 3/6, 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.

ENI Future Performance

 How is Eni expected to perform in the next 1 to 3 years based on estimates from 23 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
11%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Eni expected to grow at an attractive rate?
  • Eni's earnings growth is expected to exceed the low risk savings rate of 2.9%.
Growth vs Market Checks
  • Eni's earnings growth is expected to exceed the Italy market average.
  • Eni's revenue growth is positive but not above the Italy market average.
Annual Growth Rates Comparison
Raw Data
BIT:ENI Future Growth Rates Data Sources
Data Point Source Value (per year)
BIT:ENI Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 23 Analysts 11%
BIT:ENI Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 23 Analysts 3.1%
Europe Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 7.1%
Italy Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 3%
Italy Market Earnings Growth Rate Market Cap Weighted Average 9.9%
Italy Market Revenue Growth Rate Market Cap Weighted Average 3.3%

*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
BIT:ENI Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 23 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BIT:ENI Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 16,340 8,789
2022-12-31 82,881 14,183 5,880 2
2021-12-31 86,113 13,434 5,669 9
2020-12-31 80,733 12,907 5,281 11
2019-12-31 79,381 12,688 4,611 11
BIT:ENI Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-03-31 77,218 13,557 4,272
2018-12-31 76,484 13,647 4,126
2018-09-30 73,637 12,640 5,774
2018-06-30 69,512 10,699 4,589
2018-03-31 67,224 10,372 3,355
2017-12-31 67,689 10,117 3,374
2017-09-30 65,906 10,047 1,667
2017-06-30 63,318 9,211 761
2017-03-31 60,950 8,235 297
2016-12-31 56,679 8,562 -1,051
2016-09-30 54,910 8,888 -9,845
2016-06-30 57,729 9,206 -10,066

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Eni's earnings are expected to grow by 11% yearly, however this is not considered high growth (20% yearly).
  • Eni's revenue is expected to grow by 3.1% 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
BIT:ENI 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 23 Analyst Estimates (S&P Global) See Below

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

BIT:ENI Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 2.59 2.63 2.55 2.00
2022-12-31 2.09 2.41 1.74 3.00
2021-12-31 1.62 2.24 1.07 12.00
2020-12-31 1.48 1.93 1.08 16.00
2019-12-31 1.28 1.61 1.17 14.00
BIT:ENI Past Financials Data
Date (Data in EUR Millions) EPS *
2019-03-31 1.19
2018-12-31 1.15
2018-09-30 1.59
2018-06-30 1.27
2018-03-31 0.93
2017-12-31 0.94
2017-09-30 0.46
2017-06-30 0.21
2017-03-31 0.08
2016-12-31 -0.29
2016-09-30 -2.32
2016-06-30 -2.80

*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.
  • Eni is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Eni'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 Italy 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.
Eni 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.

ENI Past Performance

  How has Eni 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 Eni's growth in the last year to its industry (Oil and Gas).
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.
  • Eni's year on year earnings growth rate has been positive over the past 5 years.
  • Eni's 1-year earnings growth exceeds its 5-year average (27.3% vs 17.9%)
  • Eni's earnings growth has not exceeded the Europe Oil and Gas industry average in the past year (27.3% vs 35%).
Earnings and Revenue History
Eni'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 Eni Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BIT:ENI 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 77,218.00 4,272.00 3,376.00
2018-12-31 76,484.00 4,126.00 3,471.00
2018-09-30 73,637.00 5,774.00 2,869.00
2018-06-30 69,512.00 4,589.00 3,010.00
2018-03-31 67,224.00 3,355.00 3,924.00
2017-12-31 67,689.00 3,374.00 3,846.00
2017-09-30 65,906.00 1,667.00 3,247.00
2017-06-30 63,318.00 761.00 3,115.00
2017-03-31 60,950.00 297.00 3,020.00
2016-12-31 56,679.00 -1,051.00 3,793.00
2016-09-30 54,910.00 -9,845.00 2,964.00
2016-06-30 57,729.00 -10,066.00 3,042.00
2016-03-31 64,592.00 -9,122.00 3,098.00
2015-12-31 72,286.00 -7,952.00 3,088.00
2015-09-30 67,362.00 -3,072.00 954.00
2015-06-30 77,948.00 -575.00 1,460.00
2015-03-31 85,022.00 -415.00 2,024.00
2015-01-01 98,218.00 1,720.00 2,924.00
2014-09-30 108,791.00 3,028.00 5,238.00
2014-06-30 111,966.00 5,303.00 5,141.00
2014-03-31 112,734.00 4,920.00 5,127.00
2013-12-31 98,547.00 3,472.00 2,403.00
2013-09-30 121,055.00 3,843.00 4,979.00
2013-06-30 123,002.00 2,318.00 4,946.00
2013-03-31 125,459.00 2,199.00 4,697.00
2012-12-31 127,109.00 4,200.00 4,576.00
2012-09-30 125,226.00 7,480.00 4,445.00
2012-06-30 119,074.00 6,791.00 4,342.00

*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.
  • Eni has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Eni used its assets less efficiently than the Europe Oil and Gas industry average last year based on Return on Assets.
  • Eni has become profitable over the past 3 years. This is considered to be a significant improvement in its use of capital (Return on Capital Employed).
X
Past performance checks
We assess Eni'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 Oil and Gas 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.
Eni has a total score of 3/6, 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.

ENI Health

 How is Eni'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 Eni's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Eni is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Eni's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Eni'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 covered by short term assets, assets are 1.3x 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 Eni Company Filings, last reported 1 month ago.

BIT:ENI Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 52,776.00 31,607.00 17,237.00
2018-12-31 51,073.00 25,865.00 17,388.00
2018-09-30 50,868.00 26,036.00 16,831.00
2018-06-30 50,471.00 23,991.00 13,916.00
2018-03-31 48,232.00 23,638.00 12,127.00
2017-12-31 48,079.00 24,707.00 13,582.00
2017-09-30 46,577.00 27,508.00 12,228.00
2017-06-30 48,929.00 27,075.00 11,244.00
2017-03-31 53,133.00 27,285.00 11,875.00
2016-12-31 53,086.00 27,239.00 12,078.00
2016-09-30 50,144.00 27,579.00 11,123.00
2016-06-30 52,303.00 25,788.00 11,450.00
2016-03-31 52,589.00 23,911.00 11,333.00
2015-12-31 57,409.00 27,793.00 10,519.00
2015-09-30 61,174.00 29,281.00 10,738.00
2015-06-30 63,872.00 27,460.00 12,067.00
2015-03-31 68,202.00 28,161.00 12,572.00
2015-01-01 65,641.00 25,891.00 11,895.00
2014-09-30 64,024.00 26,400.00 10,601.00
2014-06-30 61,261.00 26,262.00 13,814.00
2014-03-31 62,399.00 25,710.00 11,998.00
2013-12-31 61,049.00 25,560.00 10,678.00
2013-09-30 62,609.00 25,946.00 10,745.00
2013-06-30 61,845.00 24,575.00 8,368.00
2013-03-31 65,257.00 26,332.00 10,318.00
2012-12-31 62,417.00 24,258.00 8,182.00
2012-09-30 64,241.00 25,582.00 6,104.00
2012-06-30 63,574.00 31,954.00 4,883.00
  • Eni's level of debt (59.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (41.2% vs 59.9% today).
  • Debt is well covered by operating cash flow (42.9%, greater than 20% of total debt).
  • Eni earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Eni'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. Eni has a total score of 3/6, 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.

ENI Dividends

 What is Eni'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
5.8%
Current annual income from Eni dividends. Estimated to be 5.91% next year.
If you bought €2,000 of Eni shares you are expected to receive €116 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?
  • Eni's pays a higher dividend yield than the bottom 25% of dividend payers in Italy (2.15%).
  • Eni's dividend is above the markets top 25% of dividend payers in Italy (4.46%).
Upcoming dividend payment

Purchase Eni before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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
BIT:ENI 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 23 Analyst Estimates (S&P Global) See Below
Europe Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 60 Stocks 5.5%
Italy Market Average Dividend Yield Market Cap Weighted Average of 184 Stocks 4.2%
Italy Minimum Threshold Dividend Yield 10th Percentile 1.1%
Italy Bottom 25% Dividend Yield 25th Percentile 2.1%
Italy Top 25% Dividend Yield 75th Percentile 4.5%

Industry and Market average data is calculated daily.

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

BIT:ENI Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 0.86 3.00
2022-12-31 0.89 6.00
2021-12-31 0.90 20.00
2020-12-31 0.88 24.00
2019-12-31 0.86 24.00
BIT:ENI Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-04-05 0.860 5.668
2019-04-04 0.860 5.442
2019-02-15 0.830 5.379
2018-10-26 0.840 5.786
2018-09-13 0.830 5.221
2018-04-06 0.830 5.201
2018-02-16 0.830 5.969
2017-10-27 0.800 5.657
2017-10-03 0.800 5.759
2017-04-18 0.800 5.813
2016-10-28 0.800 5.563
2016-09-15 0.800 6.096
2016-03-17 0.800 5.844
2015-08-03 0.960 6.878
2015-02-18 1.120 6.862
2014-10-30 1.120 7.353
2014-07-31 1.120 6.224
2014-04-10 1.120 5.849
2014-03-03 1.120 6.309
2013-11-04 1.100 6.361
2013-10-30 1.100 5.955
2013-08-02 1.100 6.327
2013-08-01 1.100 6.394
2013-03-14 1.080 6.262
2012-10-30 1.080 5.965
2012-08-02 1.080 6.116
2012-03-02 1.040 6.260
2011-10-27 1.040 6.392
2011-08-03 1.040 7.585
2011-02-16 1.000 5.997
2010-10-28 1.000 5.966
2010-10-04 1.000 6.205
2010-02-12 1.000 6.162
2009-10-29 1.000 5.787
2009-09-10 1.000 5.751
2009-06-11 1.300 7.782

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 fallen over the past 10 years.
Current Payout to shareholders
What portion of Eni's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.8x coverage).
X
Income/ dividend checks
We assess Eni's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - 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 Eni afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Eni has a total score of 4/6, see the detailed checks below.


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

ENI Management

 What is the CEO of Eni'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
Claudio Descalzi
COMPENSATION €3,995,000
AGE 63
TENURE AS CEO 2.1 years
CEO Bio

Mr. Claudio Descalzi has been the Chief Executive Officer of Eni SpA since May 9, 2014 and serves as its General Manager. Mr. Descalzi served as the President of Assomineraria from 2006 to 2014 and Vice President of Confindustria Energy. He served as the Chief Operating Officer of Exploration & Production Division at Eni SpA from July 30, 2008 to 2014. He served as General Manager of Exploration and Production at Eni SpA since July 30, 2008. He served as Deputy Director General and Deputy Chief Operating Officer of Eni - Exploration & Production Division since 2005. He joined Eni SPA in 1981 as Oil & Gas Field Petroleum Engineering and Project Manager for the development of North Sea, Libya, Nigeria and Congo and served as its Head of reservoir and operating activities for Italy since 1990. Mr. Descalzi served as Managing Director of Eni subsidiary in Congo since 1994 and served as Vice Chairman and Managing Director of Naoc, Eni's subsidiary in Nigeria since 1998. From 2000 to 2001, he served as Executive Vice President for Africa, Middle East and China at Eni. From 2002 to 2005, he served as an Executive Vice President for Italy, Africa, Middle East. He served as Chairman of Eni UK from 2010 to 2014. He has been a Director of Eni SPA since 2014. He served as a Director of Stoccaggi Gas Italia SpA. He served as a Director of Joint Stock Company Gazprom Neft (also known as Gazprom Neft) from November 2008 to March 5, 2009. He received the prestigious Charles F. Rand Memorial Gold Medal 2012 award from the Society of Petroleum Engineers and the American Institute of Mining Engineers. He is a Visiting Fellow at The University of Oxford. In December 2015, he was made a member of the Global Board of Advisors of the Council on Foreign Relations. In December 2016 he was awarded an Honorary Degree in Environmental and Territorial Engineering by the Faculty of Engineering of the University of Rome, Tor Vergata. Mr. Descalzi graduated in Physics from the University of Milan Polytechinic University in 1979.

CEO Compensation
  • Claudio's compensation has increased by more than 20% in the past year.
  • Claudio's remuneration is higher than average for companies of similar size in Italy.
Management Team Tenure

Average tenure and age of the Eni management team in years:

2.7
Average Tenure
55
Average Age
  • The tenure for the Eni management team is about average.
Management Team

Claudio Descalzi

TITLE
CEO, GM & Director
COMPENSATION
€4M
AGE
63
TENURE
2.1 yrs

Massimo Mondazzi

TITLE
Chief Financial Officer
AGE
55
TENURE
6.4 yrs

Alessandro Puliti

TITLE
Chief Development of Operations & Technology Officer
AGE
55
TENURE
0.7 yrs

Francesco Gattei

TITLE
Executive Vice President of Scenarios of Strategic Options & Investor Relations

Luca Franceschini

TITLE
Executive Vice President of Integrated Compliance Department
AGE
52
TENURE
2.7 yrs

Stefano Speroni

TITLE
Senior Executive Vice President of Legal Affairs
TENURE
0.3 yrs

Marco Bardazzi

TITLE
Executive Vice President of External Communication
AGE
51
TENURE
4.3 yrs

Giuseppe Ricci

TITLE
Chief Refining & Marketing Officer
AGE
60
TENURE
2.7 yrs

Francesco Furci

TITLE
Group Senior Vice President of HR & Organizations
AGE
71

Fabrizio Cosco

TITLE
Managing Director of Eni Finance International S.A.
Board of Directors Tenure

Average tenure and age of the Eni board of directors in years:

5
Average Tenure
56.5
Average Age
  • The tenure for the Eni board of directors is about average.
Board of Directors

Emma Marcegaglia

TITLE
Chairman of the Board
COMPENSATION
€426K
AGE
53
TENURE
5 yrs

Claudio Descalzi

TITLE
CEO, GM & Director
COMPENSATION
€4M
AGE
63
TENURE
5.3 yrs

Giorgio Ruffoni

TITLE
Chairman of Stoccaggi Gas Italia

Giorgio Clarizia

TITLE
Chairman of Polimeri Europa

Alessandro Lorenzi

TITLE
Non-Executive Independent Director
COMPENSATION
€178K
AGE
70
TENURE
8 yrs

Andrea Gemma

TITLE
Non-Executive Independent Director
COMPENSATION
€199K
AGE
45
TENURE
5 yrs

Diva Moriani

TITLE
Non-Executive Independent Director
COMPENSATION
€192K
AGE
50
TENURE
5 yrs

Fabrizio Pagani

TITLE
Chairman of Advisory Board & Non Executive Director
COMPENSATION
€162K
AGE
51
TENURE
1.8 yrs

Rosalba Casiraghi

TITLE
Chairman of the Board of Statutory Auditors
AGE
68
TENURE
2.1 yrs

Pietro Guindani

TITLE
Non-Executive Independent Director
COMPENSATION
€155K
AGE
60
TENURE
5 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 (€)
X
Management checks
We assess Eni'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. Eni 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.

ENI News

Simply Wall St News

What We Think Of Eni S.p.A.’s (BIT:ENI) Investment Potential

Author Edwin Whiting says to be careful when comparing the ROCE of different businesses, since 'No two businesses are exactly alike.' How Do You Calculate Return On Capital Employed? … Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Eni: 0.10 = €9.6b ÷ (€128b - €32b) (Based on the trailing twelve months to March 2019.) So, Eni has an ROCE of 10%. … The ROCE equation subtracts current liabilities from capital employed, so a company with a lot of current liabilities appears to have less capital employed, and a higher ROCE than otherwise.

Simply Wall St -

Are Investors Undervaluing Eni S.p.A. (BIT:ENI) By 28%?

by estimating the company's future cash flows and discounting them to their present value. … We generally believe that a company's value is the present value of all of the cash it will generate in the future. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model

Simply Wall St -

Would Eni S.p.A. (BIT:ENI) Be Valuable To Income Investors?

(BIT:ENI) tend to be popular with investors, and for good reason - some research shows that a significant amount of all stock market returns come from reinvested dividends.. … Yet sometimes, investors buy a popular dividend stock because of its yield, and then lose money if the company's dividend doesn't live up to expectations.. … Before you buy any stock for its dividend however, you should always remember Warren Buffett's two rules: 1) Don't lose money, and 2) Remember rule #1

Simply Wall St -

Does The Hype Around Eni S.p.A.'s (BIT:ENI) Growth Justify Its April Share Price?

(BIT:ENI) is considered a high-growth stock, but its last closing price of €15.888 left some investors wondering if this high future earnings potential can be rationalized by its current price tag. … Let’s take a look at some key metrics to determine whether there's any value here for current and potential future investors. … Investors in Eni have been patiently waiting for the uptick in earnings.

Simply Wall St -

Eni S.p.A. (BIT:ENI): Will The Growth Last?

(BIT:ENI) released its earnings in December 2018,. … as a 13% increase in profits is expected in the upcoming year, … the past 5-year average growth rate of 7.8%

Simply Wall St -

Should You Be Tempted To Sell Eni S.p.A. (BIT:ENI) Because Of Its P/E Ratio?

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … We'll look at Eni S.p.A.'s (BIT:ENI) P/E ratio and reflect on what it tells us about the company's share price. … Eni has a price to earnings ratio of 13.52, based on the last twelve months.

Simply Wall St -

What Investors Should Know About Eni S.p.A.'s (BIT:ENI) Financial Strength

the key to their continued success lies in its financial health. … This article will examine Eni’s financial liquidity and debt levels to get an idea of whether the company can deal with cyclical downturns and maintain funds to accommodate strategic spending for future growth. … Note that this information is centred entirely on financial health and is a high-level overview, so I encourage you to look further

Simply Wall St -

Will Eni S.p.A.'s (BIT:ENI) Earnings Grow In The Years Ahead?

In December 2018, Eni S.p.A. … (BIT:ENI) announced its most recent earnings update, whicha … showed

Simply Wall St -

Should You Be Pleased About The CEO Pay At Eni S.p.A.'s (BIT:ENI)

First, this article will compare CEO compensation with compensation at other large companies. … Third, we'll reflect on the total return to shareholders over three years, as a second measure of business performance. … How Does Claudio Descalzi's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Don’t Buy Eni S.p.A. (BIT:ENI) Until You Understand Its ROCE

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … Return On Capital Employed (ROCE): What is it? … ROCE measures the amount of pre-tax profits a company can generate from the capital employed in its business.

Simply Wall St -

ENI Company Info

Description

Eni S.p.A. engages in the oil and gas, electricity generation and sale, and petrochemicals businesses. The company is involved in the oil and natural gas exploration, and field development and production activities, as well as liquefied natural gas (LNG) operations in 43 countries, including Italy, Libya, Egypt, Norway, the United Kingdom, Angola, Congo, Nigeria, the United States, Kazakhstan, Algeria, Australia, Iraq, Indonesia, Ghana, Mozambique, Oman, and the United Arab Emirates. It also supplies, trades in, and markets gas and electricity; transports international gas; supplies crude oil; and refines and markets petroleum products at retail and wholesale markets primarily in Italy and rest of Europe. In addition, the company engages in the commodity risk management and asset-backed trading activities; and production of various chemicals, including olefins and aromatics, basic intermediate products, polystyrenes, elastomers, and polyethylene in Italy and Western Europe. Further, it is involved in commodity trading and derivatives. Eni S.p.A. was founded in 1953 and is headquartered in Rome, Italy.

Details
Name: Eni S.p.A.
ENI
Exchange: BIT
Founded: 1953
€53,440,919,573
3,601,140,133
Website: http://www.eni.com
Address: Eni S.p.A.
Piazzale Enrico Mattei 1,
Rome,
Rome, 00144,
Italy
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BIT ENI Ordinary Shares Borsa Italiana IT EUR 29. Nov 1995
OTCPK EIPA.F Ordinary Shares Pink Sheets LLC US USD 29. Nov 1995
DB ENI Ordinary Shares Deutsche Boerse AG DE EUR 29. Nov 1995
XTRA ENI Ordinary Shares XETRA Trading Platform DE EUR 29. Nov 1995
LSE 0N9S Ordinary Shares London Stock Exchange GB EUR 29. Nov 1995
SWX ENI Ordinary Shares SIX Swiss Exchange CH CHF 29. Nov 1995
ENXTBR ENI Ordinary Shares Euronext Brussels BE EUR 29. Nov 1995
WBAG ENI Ordinary Shares Wiener Boerse AG AT EUR 29. Nov 1995
NYSE E SPONSORED ADR New York Stock Exchange US USD 28. Nov 1995
LSE 0TD2 SPONSORED ADR London Stock Exchange GB USD 28. Nov 1995
BMV E N SPONSORED ADR Bolsa Mexicana de Valores MX MXN 28. Nov 1995
Number of employees
Current staff
Staff numbers
31,701
Eni employees.
Industry
Integrated Oil and Gas
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/19 21:04
End of day share price update: 2019/05/17 00:00
Last estimates confirmation: 2019/05/13
Last earnings filing: 2019/04/24
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.