ENAV Past Earnings Performance
Past criteria checks 2/6
ENAV has been growing earnings at an average annual rate of 10.4%, while the Infrastructure industry saw earnings growing at 32.8% annually. Revenues have been growing at an average rate of 6.2% per year. ENAV's return on equity is 8.7%, and it has net margins of 10%.
Key information
10.37%
Earnings growth rate
9.40%
EPS growth rate
| Infrastructure Industry Growth | -13.30% |
| Revenue growth rate | 6.22% |
| Return on equity | 8.68% |
| Net Margin | 9.99% |
| Next Earnings Update | 03 Aug 2026 |
Recent past performance updates
Recent updates
New Narrative • Jun 01
Rising Personnel Costs And Traffic Uncertainty Will Pressure Margins Over The Long Term
Catalysts About ENAV ENAV provides air traffic control and related services, mainly within the Italian airspace and selected international markets. What are the underlying business or industry changes driving this perspective?Analysis Article • May 20
We Think You Can Look Beyond ENAV's (BIT:ENAV) Lackluster Earnings
ENAV S.p.A.'s ( BIT:ENAV ) earnings announcement last week didn't impress shareholders. Despite the soft profit...
New Narrative • May 18
Overflight Strength And Rising Traffic Momentum Will Support A Stronger Long Term Outlook
Catalysts About ENAV ENAV provides air traffic control and related services, with a core focus on en route and terminal air navigation in Italy and selected international markets. What are the underlying business or industry changes driving this perspective?Analysis Article • Jan 25
We Think ENAV (BIT:ENAV) Can Stay On Top Of Its Debt
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Analysis Article • Dec 03
ENAV (BIT:ENAV) Is Experiencing Growth In Returns On Capital
Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...Analysis Article • Nov 07
Calculating The Fair Value Of ENAV S.p.A. (BIT:ENAV)
Key Insights Using the 2 Stage Free Cash Flow to Equity, ENAV fair value estimate is €4.06 With €4.45 share price, ENAV...Analysis Article • Aug 03
The ENAV S.p.A. (BIT:ENAV) Interim Results Are Out And Analysts Have Published New Forecasts
It's been a good week for ENAV S.p.A. ( BIT:ENAV ) shareholders, because the company has just released its latest...Analysis Article • Jul 09
Investors Met With Slowing Returns on Capital At ENAV (BIT:ENAV)
If you're looking for a multi-bagger, there's a few things to keep an eye out for. In a perfect world, we'd like to see...Analysis Article • Jun 19
Unpleasant Surprises Could Be In Store For ENAV S.p.A.'s (BIT:ENAV) Shares
With a price-to-earnings (or "P/E") ratio of 20.1x ENAV S.p.A. ( BIT:ENAV ) may be sending bearish signals at the...Analysis Article • Jun 02
A Look At The Intrinsic Value Of ENAV S.p.A. (BIT:ENAV)
Key Insights ENAV's estimated fair value is €4.53 based on 2 Stage Free Cash Flow to Equity With €4.21 share price...Analysis Article • May 17
ENAV S.p.A. (BIT:ENAV) Just Reported First-Quarter Earnings: Have Analysts Changed Their Mind On The Stock?
As you might know, ENAV S.p.A. ( BIT:ENAV ) recently reported its first-quarter numbers. It was an okay report, and...Analysis Article • Mar 07
ENAV (BIT:ENAV) Seems To Use Debt Rather Sparingly
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Analysis Article • Jan 26
Returns At ENAV (BIT:ENAV) Appear To Be Weighed Down
If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Firstly, we'd...
New Narrative • Jan 18
Upcoming Performance Plan And Global Expansion Will Boost Italy's Airspace Management
Positive regulatory changes and strong traffic growth are expected to drive revenue, bolstered by Italy's tourism appeal and airspace improvements.Analysis Article • Nov 17
Analyst Estimates: Here's What Brokers Think Of ENAV S.p.A. (BIT:ENAV) After Its Third-Quarter Report
The quarterly results for ENAV S.p.A. ( BIT:ENAV ) were released last week, making it a good time to revisit its...Analysis Article • Nov 05
Is It Time To Consider Buying ENAV S.p.A. (BIT:ENAV)?
ENAV S.p.A. ( BIT:ENAV ), might not be a large cap stock, but it had a relatively subdued couple of weeks in terms of...Analysis Article • Oct 17
The Returns At ENAV (BIT:ENAV) Aren't Growing
If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...Analysis Article • Oct 04
Here's Why ENAV (BIT:ENAV) Can Manage Its Debt Responsibly
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Analysis Article • Sep 20
Estimating The Intrinsic Value Of ENAV S.p.A. (BIT:ENAV)
Key Insights Using the 2 Stage Free Cash Flow to Equity, ENAV fair value estimate is €4.12 ENAV's €4.01 share price...Analysis Article • Aug 08
Analysts Are Updating Their ENAV S.p.A. (BIT:ENAV) Estimates After Its Half-Year Results
ENAV S.p.A. ( BIT:ENAV ) shareholders are probably feeling a little disappointed, since its shares fell 6.4% to €3.70...Analysis Article • Aug 04
Is It Time To Consider Buying ENAV S.p.A. (BIT:ENAV)?
While ENAV S.p.A. ( BIT:ENAV ) might not have the largest market cap around , it saw significant share price movement...Analysis Article • Jun 06
ENAV (BIT:ENAV) Seems To Use Debt Quite Sensibly
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Analysis Article • Apr 27
Is ENAV S.p.A. (BIT:ENAV) Potentially Undervalued?
ENAV S.p.A. ( BIT:ENAV ), might not be a large cap stock, but it received a lot of attention from a substantial price...Analysis Article • Apr 11
The Price Is Right For ENAV S.p.A. (BIT:ENAV)
With a price-to-earnings (or "P/E") ratio of 18.3x ENAV S.p.A. ( BIT:ENAV ) may be sending bearish signals at the...Analysis Article • Feb 09
A Look At The Intrinsic Value Of ENAV S.p.A. (BIT:ENAV)
Key Insights The projected fair value for ENAV is €4.08 based on 2 Stage Free Cash Flow to Equity Current share price...Analysis Article • Jan 20
These 4 Measures Indicate That ENAV (BIT:ENAV) Is Using Debt Extensively
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Analysis Article • Dec 15
Is It Time To Consider Buying ENAV S.p.A. (BIT:ENAV)?
ENAV S.p.A. ( BIT:ENAV ), is not the largest company out there, but it saw a double-digit share price rise of over 10...Analysis Article • Nov 01
The Returns On Capital At ENAV (BIT:ENAV) Don't Inspire Confidence
If we're looking to avoid a business that is in decline, what are the trends that can warn us ahead of time? When we...Analysis Article • Sep 19
ENAV S.p.A. (BIT:ENAV) Shares Could Be 24% Below Their Intrinsic Value Estimate
Key Insights Using the 2 Stage Free Cash Flow to Equity, ENAV fair value estimate is €4.77 Current share price of €3.61...Analysis Article • Aug 28
ENAV (BIT:ENAV) Is Increasing Its Dividend To €0.1967
The board of ENAV S.p.A. ( BIT:ENAV ) has announced that it will be paying its dividend of €0.1967 on the 25th of...Analysis Article • Aug 04
Is ENAV (BIT:ENAV) Using Too Much Debt?
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...Analysis Article • Jun 22
Is It Too Late To Consider Buying ENAV S.p.A. (BIT:ENAV)?
ENAV S.p.A. ( BIT:ENAV ), might not be a large cap stock, but it received a lot of attention from a substantial price...Analysis Article • May 26
ENAV's (BIT:ENAV) Shareholders Will Receive A Bigger Dividend Than Last Year
ENAV S.p.A. ( BIT:ENAV ) will increase its dividend from last year's comparable payment on the 25th of October to...Analysis Article • Apr 19
Return Trends At ENAV (BIT:ENAV) Aren't Appealing
If you're looking for a multi-bagger, there's a few things to keep an eye out for. Amongst other things, we'll want to...Analysis Article • Apr 05
ENAV (BIT:ENAV) Is Increasing Its Dividend To €0.1967
The board of ENAV S.p.A. ( BIT:ENAV ) has announced that it will be paying its dividend of €0.1967 on the 25th of...Analysis Article • Mar 18
ENAV (BIT:ENAV) Is Paying Out A Larger Dividend Than Last Year
ENAV S.p.A. ( BIT:ENAV ) has announced that it will be increasing its dividend from last year's comparable payment on...Analysis Article • Mar 16
We Think ENAV (BIT:ENAV) Can Stay On Top Of Its Debt
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that...Analysis Article • Feb 11
Should You Investigate ENAV S.p.A. (BIT:ENAV) At €4.14?
ENAV S.p.A. ( BIT:ENAV ), is not the largest company out there, but it saw significant share price movement during...Analysis Article • Jan 05
Estimating The Intrinsic Value Of ENAV S.p.A. (BIT:ENAV)
Key Insights ENAV's estimated fair value is €4.4 based on 2 Stage Free Cash Flow to Equity Current share price of €4.1...Analysis Article • Dec 16
ENAV (BIT:ENAV) Is Doing The Right Things To Multiply Its Share Price
To find a multi-bagger stock, what are the underlying trends we should look for in a business? Typically, we'll want to...Analysis Article • Oct 05
An Intrinsic Calculation For ENAV S.p.A. (BIT:ENAV) Suggests It's 21% Undervalued
Today we will run through one way of estimating the intrinsic value of ENAV S.p.A. ( BIT:ENAV ) by estimating the...Analysis Article • Sep 17
ENAV (BIT:ENAV) Has A Pretty Healthy Balance Sheet
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Analysis Article • Jul 24
Investors Could Be Concerned With ENAV's (BIT:ENAV) Returns On Capital
If we're looking to avoid a business that is in decline, what are the trends that can warn us ahead of time? More often...Analysis Article • Jun 11
ENAV (BIT:ENAV) Takes On Some Risk With Its Use Of Debt
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it seems the smart money knows that...Revenue & Expenses Breakdown
Revenue & Expenses Breakdown
How ENAV 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 Mar 26 | 998 | 100 | 775 | 0 |
| 31 Dec 25 | 983 | 93 | 765 | 0 |
| 30 Sep 25 | 989 | 103 | 734 | 0 |
| 30 Jun 25 | 997 | 110 | 732 | 0 |
| 31 Mar 25 | 999 | 110 | 718 | 0 |
| 31 Dec 24 | 1,000 | 126 | 715 | 0 |
| 30 Sep 24 | 1,005 | 116 | 711 | 0 |
| 30 Jun 24 | 998 | 117 | 708 | 0 |
| 31 Mar 24 | 981 | 121 | 703 | 0 |
| 31 Dec 23 | 973 | 113 | 694 | 0 |
| 30 Sep 23 | 930 | 100 | 702 | 0 |
| 30 Jun 23 | 930 | 96 | 699 | 0 |
| 31 Mar 23 | 916 | 99 | 683 | 0 |
| 31 Dec 22 | 907 | 105 | 672 | 0 |
| 30 Sep 22 | 930 | 129 | 648 | 0 |
| 30 Jun 22 | 841 | 93 | 630 | 0 |
| 31 Mar 22 | 780 | 51 | 622 | 0 |
| 31 Dec 21 | 800 | 78 | 610 | 0 |
| 30 Sep 21 | 734 | 41 | 582 | 0 |
| 30 Jun 21 | 735 | 52 | 573 | 0 |
| 31 Mar 21 | 754 | 72 | 592 | 0 |
| 31 Dec 20 | 737 | 54 | 562 | 0 |
| 30 Sep 20 | 768 | 75 | 572 | 0 |
| 30 Jun 20 | 825 | 100 | 588 | 0 |
| 31 Mar 20 | 861 | 116 | 599 | 0 |
| 31 Dec 19 | 868 | 118 | 604 | 0 |
| 30 Sep 19 | 869 | 115 | 609 | 0 |
| 30 Jun 19 | 855 | 116 | 601 | 0 |
| 31 Mar 19 | 852 | 115 | 598 | 0 |
| 31 Dec 18 | 849 | 114 | 595 | 0 |
| 30 Sep 18 | 844 | 111 | 609 | 0 |
| 30 Jun 18 | 847 | 107 | 595 | 0 |
| 31 Mar 18 | 848 | 101 | 600 | 0 |
| 31 Dec 17 | 849 | 101 | 600 | 0 |
| 30 Sep 17 | 836 | 96 | 608 | 0 |
| 30 Jun 17 | 827 | 81 | 604 | 0 |
| 31 Mar 17 | 824 | 81 | 606 | 0 |
| 31 Dec 16 | 825 | 76 | 606 | 0 |
| 30 Sep 16 | 832 | 73 | 609 | 0 |
| 30 Jun 16 | 830 | 73 | 605 | 0 |
| 31 Mar 16 | 821 | 68 | 569 | 0 |
| 31 Dec 15 | 813 | 66 | 600 | 0 |
| 30 Sep 15 | 830 | 80 | 503 | 0 |
| 30 Jun 15 | 805 | 49 | 597 | 0 |
Quality Earnings: ENAV has high quality earnings.
Growing Profit Margin: ENAV's current net profit margins (10%) are lower than last year (11%).
Free Cash Flow vs Earnings Analysis
Past Earnings Growth Analysis
Earnings Trend: ENAV's earnings have grown by 10.4% per year over the past 5 years.
Accelerating Growth: ENAV's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: ENAV had negative earnings growth (-9.7%) over the past year, making it difficult to compare to the Infrastructure industry average (-9.7%).
Return on Equity
High ROE: ENAV's Return on Equity (8.7%) is considered low.
Return on Assets
Return on Capital Employed
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/08 02:51 |
| End of Day Share Price | 2026/06/08 00:00 |
| Earnings | 2026/03/31 |
| 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 |
| |
| Management | 10 years |
| |
| 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
ENAV S.p.A. is covered by 13 analysts. 5 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 |
|---|---|
| Tommaso Marabini | Banca Akros S.p.A. (ESN) |
| Francesco Sala | Banca Akros S.p.A. (ESN) |
| Marco Limite | Barclays |