Eni S.p.A. (E) 10-Year Financial Performance & Capital Metrics

E • • Industrial / General

EnergyIntegrated Oil & GasGlobal Integrated MajorsEuropean Integrated Leaders

AboutEni S.p.A. engages in the exploration, development, and production of crude oil and natural gas. It operates through Exploration & Production; Global Gas & LNG Portfolio; Refining & Marketing and Chemicals; Plenitude and Power; and Corporate and Other activities segments. The Exploration & Production segment is involved in the research, development, and production of oil, condensates and natural gas; and forestry conservation and CO2 capture and storage projects. The Global Gas & LNG Portfolio segment engages in the supply and wholesale of natural gas by pipeline, international transport; and purchase and marketing of LNG. The Refining & Marketing and Chemicals segment is involved in the processing, supply, distribution, and marketing of fuels and chemicals. The Eni gas e luce, Power & Renewables segment engages in the retail sales of gas, electricity, and related activities, as well as in the production and wholesale of electricity produced by thermoelectric and renewable plants. As of December 31, 2021, it had net proved reserves of 6,628 million barrels of oil equivalent; and installed operational capacity of 4.5 GW. The company was founded in 1953 and is headquartered in Rome, Italy.Show more

Revenue $88.8B -5.2%
EBITDA $12.84B -18.4%
Net Income $2.62B -45.0%
EPS (Diluted) 1.64 -41.4%
Gross Margin 11.36% -14.2%
EBITDA Margin 14.46% -13.9%
Operating Margin 5.9% -33.0%
Net Margin 2.96% -42.0%
ROE 4.8% -45.2%
ROIC 4.93% -38.8%
Debt/Equity 0.63 +1.7%
Interest Coverage 3.93 -51.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 77.7%
✓High quality earnings: Operating CF exceeds net income
✓Healthy dividend yield of 5.2%
✓Share count reduced 2.9% through buybacks
✓Trading near 52-week high
✓Trading at only 1.1x book value

✗Weaknesses

✗Dividend payout exceeds 100% of earnings
✗Thin 5Y average net margin of 1.3%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-1%

5Y4.91%

3Y5.06%

TTM-6.68%

Profit (Net Income) CAGR

10Y7.25%

5Y77.72%

3Y-23.32%

TTM-37.72%

EPS CAGR

10Y8.58%

5Y81.88%

3Y-19.97%

TTM-37.56%

ROCE

10Y Avg6.43%

5Y Avg7.95%

3Y Avg10.2%

Latest4.94%

Peer Comparison

European Integrated Leaders

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
BPBP p.l.c.	90.33B	35.15	251.07	-9.2%	0.81%	1.96%	13.28%	0.91
EEni S.p.A.	56.41B	38.19	23.29	-5.25%	2.89%	4.62%	9.03%	0.63
SHELShell plc	208.21B	73.42	14.51	-10.2%	5.43%	8.21%	16.85%	0.43
TTETotalEnergies SE	140.7B	65.67	9.82	-10.66%	7.72%	12.03%	11.33%	0.45
EQNREquinor ASA	61.71B	24.70	7.94	-4.07%	5.35%	14.11%	12.85%	0.71

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	72.29B	55.76B	66.92B	75.82B	69.88B	43.99B	76.58B	132.51B	93.72B	88.8B
Revenue Growth %	-0.26%	-0.23%	0.2%	0.13%	-0.08%	-0.37%	0.74%	0.73%	-0.29%	-0.05%
Cost of Goods Sold+	65.79B	50.84B	59.03B	62.61B	58.98B	40.85B	62.61B	109.73B	81.31B	78.71B
COGS % of Revenue	0.91%	0.91%	0.88%	0.83%	0.84%	0.93%	0.82%	0.83%	0.87%	0.89%
Gross Profit+	6.5B	4.92B	7.89B	13.21B	10.9B	3.13B	13.96B	22.78B	12.4B	10.08B
Gross Margin %	0.09%	0.09%	0.12%	0.17%	0.16%	0.07%	0.18%	0.17%	0.13%	0.11%
Gross Profit Growth %	-0.51%	-0.24%	0.6%	0.67%	-0.17%	-0.71%	3.46%	0.63%	-0.46%	-0.19%
Operating Expenses+	9.57B	2.77B	-124M	3.23B	4.47B	6.41B	1.62B	5.27B	4.14B	4.84B
OpEx % of Revenue	0.13%	0.05%	-0%	0.04%	0.06%	0.15%	0.02%	0.04%	0.04%	0.05%
Selling, General & Admin	3.12B	2.99B	2.95B	3.09B	3B	2.86B	2.89B	3.02B	3.14B	3.26B
SG&A % of Revenue	0.04%	0.05%	0.04%	0.04%	0.04%	0.07%	0.04%	0.02%	0.03%	0.04%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	6.46B	-226M	-3.08B	136M	1.47B	3.54B	-1.27B	2.25B	1.01B	1.58B
Operating Income+	-3.08B	2.16B	8.01B	9.98B	6.43B	-3.27B	12.34B	17.51B	8.26B	5.24B
Operating Margin %	-0.04%	0.04%	0.12%	0.13%	0.09%	-0.07%	0.16%	0.13%	0.09%	0.06%
Operating Income Growth %	-1.34%	1.7%	2.71%	0.25%	-0.36%	-1.51%	4.77%	0.42%	-0.53%	-0.37%
EBITDA+	5.86B	9.72B	15.49B	16.97B	14.54B	4.03B	19.4B	24.71B	15.74B	12.84B
EBITDA Margin %	0.08%	0.17%	0.23%	0.22%	0.21%	0.09%	0.25%	0.19%	0.17%	0.14%
EBITDA Growth %	-0.65%	0.66%	0.59%	0.1%	-0.14%	-0.72%	3.82%	0.27%	-0.36%	-0.18%
D&A (Non-Cash Add-back)	8.94B	7.56B	7.48B	6.99B	8.11B	7.3B	7.06B	7.21B	7.48B	7.6B
EBIT	5.82B	7.14B	12.73B	14.77B	9.82B	-1.02B	14.9B	31.38B	18.34B	15.47B
Net Interest Income+	-957.69M	-959.23M	-994.51M	-780.85M	-972.98M	-723.02M	-755.78M	-701.23M	-514.78M	-812.69M
Interest Income	24.43M	54.81M	26.98M	196.25M	139M	110.73M	154.28M	189.47M	513.8M	521.25M
Interest Expense	982.12M	1.01B	1.02B	977.1M	1.11B	833.76M	910.07M	890.7M	1.03B	1.33B
Other Income/Expense	-1.2B	-1.26B	-1.17B	124M	-686M	-2.7B	-1.66B	4.54B	1.97B	1.25B
Pretax Income+	-4.28B	892M	6.84B	10.11B	5.75B	-5.98B	10.69B	22.05B	10.23B	6.49B
Pretax Margin %	-0.06%	0.02%	0.1%	0.13%	0.08%	-0.14%	0.14%	0.17%	0.11%	0.07%
Income Tax+	3.12B	1.94B	3.47B	5.97B	5.59B	2.65B	4.84B	8.09B	5.37B	3.73B
Effective Tax Rate %	2.05%	-1.64%	0.49%	0.41%	0.03%	1.44%	0.54%	0.63%	0.47%	0.4%
Net Income+	-8.78B	-1.46B	3.37B	4.13B	148M	-8.63B	5.82B	13.89B	4.77B	2.62B
Net Margin %	-0.12%	-0.03%	0.05%	0.05%	0%	-0.2%	0.08%	0.1%	0.05%	0.03%
Net Income Growth %	-7.74%	0.83%	3.3%	0.22%	-0.96%	-59.34%	1.67%	1.39%	-0.66%	-0.45%
Net Income (Continuing)	-7.4B	-1.04B	3.38B	4.14B	155M	-8.63B	5.84B	13.96B	4.86B	2.76B
Discontinued Operations	-1.97B	-413M	0	0	0	0	0	0	0	0
Minority Interest	1.92B	49M	49M	57M	68.47M	95.44M	82M	471M	460M	2.86B
EPS (Diluted)+	-4.90	-0.82	1.88	2.28	0.08	-4.84	3.20	7.90	2.80	1.64
EPS Growth %	-7.81%	0.83%	3.29%	0.21%	-0.96%	-59.74%	1.66%	1.47%	-0.65%	-0.41%
EPS (Basic)	-4.90	-0.82	1.88	2.30	0.08	-4.84	3.22	7.92	2.82	1.58
Diluted Shares Outstanding	1.8B	1.8B	1.8B	1.8B	1.8B	1.79B	1.79B	1.74B	1.66B	1.62B
Basic Shares Outstanding	1.8B	1.8B	1.8B	1.8B	1.8B	1.79B	1.78B	1.74B	1.7B	1.67B
Dividend Payout Ratio	-	-	0.85%	0.72%	20.39%	-	0.41%	0.22%	0.64%	1.22%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	57.58B	37.98B	36.76B	39.74B	39.19B	40.2B	57.88B	61.86B	49.31B	43.98B
Cash & Short-Term Investments	10.51B	12.08B	13.58B	17.69B	14.32B	18.25B	18.86B	19.91B	16.77B	14.98B
Cash Only	5.2B	5.67B	7.36B	10.84B	6.73B	11.52B	8.25B	10.15B	9.99B	8.18B
Short-Term Investments	5.31B	6.4B	6.22B	6.85B	7.59B	6.73B	10.61B	9.76B	6.78B	6.8B
Accounts Receivable	12.71B	11.27B	16.2B	14.85B	15.53B	14.14B	17.41B	18.2B	18.11B	12.54B
Days Sales Outstanding	64.16	73.75	88.37	71.5	81.09	117.37	83	50.13	70.53	51.56
Inventory	3.9B	4.64B	4.62B	4.65B	5.31B	4.76B	6.07B	7.71B	6.19B	6.26B
Days Inventory Outstanding	21.67	33.29	28.57	27.11	32.89	42.56	35.4	25.64	27.77	29.02
Other Current Assets	28.56B	9.63B	3.28B	5.16B	3.83B	2.98B	15.53B	16.04B	8.25B	10.2B
Total Non-Current Assets+	76.98B	86.56B	78.17B	78.63B	104.61B	97.7B	79.89B	90.3B	93.29B	102.97B
Property, Plant & Equipment	63.8B	70.79B	63.16B	60.3B	75.81B	71.68B	61.12B	60.78B	61.13B	65.69B
Fixed Asset Turnover	1.13x	0.79x	1.06x	1.26x	0.92x	0.61x	1.25x	2.18x	1.53x	1.35x
Goodwill	1.31B	1.32B	1.2B	1.28B	1.42B	1.59B	2.86B	3.14B	3.13B	3.17B
Intangible Assets	1.12B	1.95B	1.72B	805M	2.01B	2.01B	1.94B	2.39B	3.25B	3.27B
Long-Term Investments	4.05B	6.18B	5.41B	9.22B	12.56B	10.97B	9.07B	15.26B	13.93B	15.6B
Other Non-Current Assets	2.46B	2.53B	2.61B	2.01B	2.67B	2.69B	2.19B	4.17B	7.37B	15.23B
Total Assets+	134.56B	124.55B	114.93B	118.37B	143.8B	137.9B	137.76B	152.17B	142.61B	146.95B
Asset Turnover	0.54x	0.45x	0.58x	0.64x	0.49x	0.32x	0.56x	0.87x	0.66x	0.60x
Asset Growth %	0.58%	-0.07%	-0.08%	0.03%	0.21%	-0.04%	-0%	0.1%	-0.06%	0.03%
Total Current Liabilities+	36.5B	27.7B	24.82B	28.44B	33.28B	28.99B	43.28B	48.83B	38.61B	38.68B
Accounts Payable	9.61B	11.04B	15.3B	11.64B	11.76B	10.62B	16.8B	19.53B	14.23B	15.15B
Days Payables Outstanding	53.29	79.25	94.63	67.89	72.8	94.87	97.91	64.95	63.88	70.26
Short-Term Debt	8.4B	6.67B	4.53B	5.78B	7.29B	6.9B	4.08B	7.54B	6.06B	6.94B
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0
Other Current Liabilities	14.99B	8.77B	4.99B	9.58B	11.83B	9.58B	17.82B	7.45B	6.15B	6.79B
Current Ratio	1.58x	1.37x	1.48x	1.40x	1.18x	1.39x	1.34x	1.27x	1.28x	1.14x
Quick Ratio	1.47x	1.20x	1.29x	1.23x	1.02x	1.22x	1.20x	1.11x	1.12x	0.98x
Cash Conversion Cycle	32.53	27.79	22.3	30.73	41.18	65.05	20.49	10.82	34.42	10.32
Total Non-Current Liabilities+	44.42B	43.76B	42.03B	38.86B	56.75B	63.04B	49.97B	48.11B	50.35B	52.61B
Long-Term Debt	19.4B	20.56B	20.18B	20.08B	21.23B	26.79B	23.71B	19.37B	21.72B	21.57B
Capital Lease Obligations	0	0	0	0	5.34B	5.1B	4.39B	4.07B	4.21B	5.17B
Deferred Tax Liabilities	6.85B	6.67B	5.9B	4.27B	10.76B	10.5B	0	5.09B	4.7B	0
Other Non-Current Liabilities	25.02B	22.54B	21.85B	18.78B	18.92B	20.17B	7.08B	18.87B	19.03B	25.87B
Total Liabilities	80.92B	71.46B	66.85B	67.3B	90.03B	92.03B	93.25B	96.94B	88.96B	91.26B
Total Debt+	27.78B	27.24B	24.71B	25.86B	33.86B	38.79B	33.13B	31.87B	33.11B	34.97B
Net Debt	22.58B	21.57B	17.34B	15.03B	27.13B	27.27B	24.88B	21.71B	23.12B	26.84B
Debt / Equity	0.52x	0.51x	0.51x	0.51x	0.63x	0.85x	0.74x	0.58x	0.62x	0.63x
Debt / EBITDA	4.74x	2.80x	1.59x	1.52x	2.33x	9.63x	1.71x	1.29x	2.10x	2.72x
Net Debt / EBITDA	3.85x	2.22x	1.12x	0.89x	1.87x	6.77x	1.28x	0.88x	1.47x	2.09x
Interest Coverage	-3.13x	2.13x	7.84x	10.22x	5.78x	-3.93x	13.56x	19.66x	8.03x	3.93x
Total Equity+	53.63B	53.09B	48.08B	51.07B	53.77B	45.87B	44.52B	55.23B	53.64B	55.69B
Equity Growth %	0.25%	-0.01%	-0.09%	0.06%	0.05%	-0.15%	-0.03%	0.24%	-0.03%	0.04%
Book Value per Share	29.79	29.48	26.69	28.34	29.92	25.68	24.92	31.65	32.25	34.48
Total Shareholders' Equity	51.72B	53.04B	48.03B	51.02B	53.7B	45.78B	44.44B	54.76B	53.18B	52.83B
Common Stock	4B	4B	4B	4B	4.5B	4.9B	4B	4B	4B	4B
Retained Earnings	-8.82B	-1.46B	3.37B	40.83B	42.19B	31.09B	28.57B	37.34B	37.76B	35.04B
Treasury Stock	-581M	-581M	-581M	-581M	-1.1B	-710.88M	-958M	-2.94B	-2.33B	-2.88B
Accumulated OCI	57.11B	51.08B	41.23B	6.76B	8.12B	10.5B	12.82B	16.35B	13.75B	16.67B
Minority Interest	1.92B	49M	49M	57M	68.47M	95.44M	82M	471M	460M	2.86B

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	11.9B	7.67B	10.12B	13.65B	12.39B	4.82B	12.86B	17.46B	15.12B	13.09B
Operating CF Margin %	0.16%	0.14%	0.15%	0.18%	0.18%	0.11%	0.17%	0.13%	0.16%	0.15%
Operating CF Growth %	-0.21%	-0.36%	0.32%	0.35%	-0.09%	-0.61%	1.67%	0.36%	-0.13%	-0.13%
Net Income	-7.34B	-1.04B	3.38B	4.14B	-1.89B	-8.63B	5.84B	5.4B	4.86B	2.64B
Depreciation & Amortization	9.65B	7.56B	7.48B	6.99B	8.11B	7.3B	6.95B	7.21B	7.82B	8.3B
Stock-Based Compensation	0	0	0	0	0	0	0	0	0	0
Deferred Taxes	3.19B	1.94B	3.47B	5.97B	5.59B	2.65B	4.84B	-1.62B	5.37B	0
Other Non-Cash Items	1.1B	427M	1.28B	-45M	218M	3.51B	-1.63B	7.75B	-4.74B	867M
Working Capital Changes	4.63B	2.11B	1.44B	1.63B	366M	-18M	-3.15B	-1.28B	1.81B	1.29B
Change in Receivables	4.92B	1.29B	657M	334M	1.02B	1.32B	-7.89B	-1.04B	3.32B	1.15B
Change in Inventory	1.23B	-273M	-346M	15M	-200M	1.05B	-2.03B	-2.53B	1.79B	68M
Change in Payables	-2.37B	1.5B	284M	642M	-940M	-1.61B	7.74B	2.28B	-4.82B	110M
Cash from Investing+	-11.18B	-4.44B	-3.77B	-7.54B	-11.41B	-4.59B	-12.02B	-7.02B	-9.37B	-9.82B
Capital Expenditures	-11.56B	-9.18B	-8.68B	-9.12B	-8.38B	-4.63B	-5.24B	-783M	-8.74B	-8B
CapEx % of Revenue	0.16%	0.16%	0.13%	0.12%	0.12%	0.11%	0.07%	0.01%	0.09%	0.09%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-1.01B	7.07B	2.37B	2.05B	-264M	451M	-4.19B	-3.56B	1.42B	-910M
Cash from Financing+	-1.35B	-3.65B	-4.59B	-2.64B	-5.84B	3.25B	-2.04B	-8.54B	-5.67B	-5.38B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-3.46B	-2.88B	-2.88B	-2.95B	-3.02B	-1.97B	-2.36B	-3.01B	-3.05B	-3.21B
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-20M	-4M	-3M	-3M	-6M	3.91B	-22M	568M	-112M	2.33B
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	347M	-1.51B	1.44B	4.53B	4.02B	190M	7.63B	5.04B	5.9B	5.09B
FCF Margin %	0%	-0.03%	0.02%	0.06%	0.06%	0%	0.1%	0.04%	0.06%	0.06%
FCF Growth %	-0.88%	-5.34%	1.95%	2.15%	-0.11%	-0.95%	39.13%	-0.34%	0.17%	-0.14%
FCF per Share	0.19	-0.84	0.80	2.51	2.23	0.11	4.27	2.89	3.55	3.15
FCF Conversion (FCF/Net Income)	-1.36x	-5.24x	3.00x	3.31x	83.73x	-0.56x	2.21x	1.26x	3.17x	4.99x
Interest Paid	0	0	0	0	0	0	0	0	0	1.13B
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-18.17%	-2.74%	6.67%	8.32%	0.28%	-17.33%	12.88%	27.84%	8.76%	4.8%
Return on Invested Capital (ROIC)	-3.31%	2.14%	8.58%	11.39%	6.56%	-3.19%	12.99%	17.95%	8.06%	4.93%
Gross Margin	8.99%	8.83%	11.79%	17.42%	15.6%	7.12%	18.23%	17.19%	13.23%	11.36%
Net Margin	-12.14%	-2.63%	5.04%	5.44%	0.21%	-19.63%	7.6%	10.48%	5.09%	2.96%
Debt / Equity	0.52x	0.51x	0.51x	0.51x	0.63x	0.85x	0.74x	0.58x	0.62x	0.63x
Interest Coverage	-3.13x	2.13x	7.84x	10.22x	5.78x	-3.93x	13.56x	19.66x	8.03x	3.93x
FCF Conversion	-1.36x	-5.24x	3.00x	3.31x	83.73x	-0.56x	2.21x	1.26x	3.17x	4.99x
Revenue Growth	-26.4%	-22.86%	20.01%	13.3%	-7.84%	-37.05%	74.09%	73.05%	-29.28%	-5.25%

Revenue by Geography

	2019	2020	2021	2022	2023	2024
Italy	-	-	-	60.09B	33.45B	30.99B
Italy Growth	-	-	-	-	-44.33%	-7.34%
Europe	-	-	12.47B	21.75B	18.48B	16.49B
Europe Growth	-	-	-	74.40%	-15.05%	-10.73%
Other European Union	-	-	-	25.41B	18.27B	15.97B
Other European Union Growth	-	-	-	-	-28.10%	-12.57%
Asia	-	-	-	9.06B	7.4B	9.11B
Asia Growth	-	-	-	-	-18.30%	23.10%
Africa	9B	4.84B	7.04B	9.19B	9.06B	8.29B
Africa Growth	-	-46.19%	45.39%	30.55%	-1.46%	-8.52%
Americas	-	-	-	6.93B	7B	7.91B
Americas Growth	-	-	-	-	1.08%	12.91%
Other areas	-	-	115M	79M	55M	28M
Other areas Growth	-	-	-	-31.30%	-30.38%	-49.09%
Other Areas	129M	121M	-	-	-	-
Other Areas Growth	-	-6.20%	-	-	-	-
Rest Of Europe	6.93B	-	-	-	-	-
Rest Of Europe Growth	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Eni S.p.A. (E) has a price-to-earnings (P/E) ratio of 23.3x. This is roughly in line with market averages.

Growth & Financials

Eni S.p.A. (E) reported $85.48B in revenue for fiscal year 2024. This represents a 21% decrease from $107.69B in 2011.

Eni S.p.A. (E) saw revenue decline by 5.2% over the past year.

Yes, Eni S.p.A. (E) is profitable, generating $2.47B in net income for fiscal year 2024 (3.0% net margin).

Dividend & Returns

Yes, Eni S.p.A. (E) pays a dividend with a yield of 5.20%. This makes it attractive for income-focused investors.

Eni S.p.A. (E) has a return on equity (ROE) of 4.8%. This is below average, suggesting room for improvement.

Eni S.p.A. (E) generated $4.16B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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