Latest update
$22.75
Updated: Jun 12, 2026, 9:58 AM UTC
Browsing public data
Eni S.p.A. is an integrated energy company involved in traditional oil & gas, as well as renewable energy, biofuels, and power. Recent performance indicates a strained fundamental posture with weak profitability, negative free cash flow, and heavy debt. While the company is actively expanding its renewable and decarbonization efforts, current financial metrics show a business facing headwinds. Revenue growth is modest at 4.7% YoY, but net income decreased by 8.6% YoY, and free cash flow turned significantly negative to -$1B in Q1 2026.
Revenue
The total dollars the company billed customers. When this number grows quarter after quarter, the business is finding more demand.
Latest
↓$19.7B
Q1 2026
The most recent reported figure, in the company's own currency and reporting cadence.
QoQ
→-4.2%
vs Q4 2025
How much this quarter grew compared to last quarter. Useful for spotting acceleration or slowdown in real time.
YoY
→+4.7%
vs Q1 2025
How much this quarter grew compared to the same quarter one year ago. Strips out seasonality — a slow holiday quarter looks worse QoQ but normal YoY.
CAGR
•—
insufficient history
The smooth yearly growth rate that gets you from the starting value to the current value. A 100% CAGR over 3 years means the business tripled, on average, each year.
Net income
What's left from revenue after paying every cost — employees, materials, taxes, interest. Sometimes called profit or 'the bottom line.'
Latest
↑$1.1B
Q1 2026
The most recent reported figure, in the company's own currency and reporting cadence.
QoQ
↑+1090.0%
vs Q4 2025
How much this quarter grew compared to last quarter. Useful for spotting acceleration or slowdown in real time.
YoY
→-8.6%
vs Q1 2025
How much this quarter grew compared to the same quarter one year ago. Strips out seasonality — a slow holiday quarter looks worse QoQ but normal YoY.
CAGR
•—
insufficient history
The smooth yearly growth rate that gets you from the starting value to the current value. A 100% CAGR over 3 years means the business tripled, on average, each year.
Free cash flow
The cash actually left in the bank after the company has paid for everything and reinvested in itself. Harder to fake than net income.
Latest
↓-$1B
Q1 2026
The most recent reported figure, in the company's own currency and reporting cadence.
QoQ
↓-179.6%
vs Q4 2025
How much this quarter grew compared to last quarter. Useful for spotting acceleration or slowdown in real time.
YoY
↓-277.7%
vs Q1 2025
How much this quarter grew compared to the same quarter one year ago. Strips out seasonality — a slow holiday quarter looks worse QoQ but normal YoY.
CAGR
•—
insufficient history
The smooth yearly growth rate that gets you from the starting value to the current value. A 100% CAGR over 3 years means the business tripled, on average, each year.
| Metric | 3 yr | 2 yr | 1 yr |
|---|---|---|---|
| Revenue | — | — | +4.7% $18.9B→$19.7B |
| Net income | — | — | -8.6% $1.2B→$1.1B |
| Free cash flow | — | — | +190.7% $566M→$1.3B |
P/E TTM
↑22.8×
Trailing twelve months. Today's price divided by the last year of actual earnings.
P/E NTM
↑9.8×
Next twelve months. Today's price divided by what analysts expect the company to earn over the coming year.
Profitability
↓Weak
Operating margin (and the wider return profile) tells you how efficiently each dollar of sales becomes profit. High and rising = pricing power; low or falling = the business is grinding.
Share count
↑Shrinking
Are the buybacks outrunning the stock-based comp? A shrinking share count means every existing share owns a bigger slice of future earnings.
Debt load
↓Heavy
Total debt against cash and earnings power (EBITDA). Light debt leaves room to invest and weather downturns; heavy debt shrinks the margin for error.
Debt service
↓Weak
Whether the cash the business generates easily covers its interest and loan payments. Strong here = no forced selling in a bad year.
Cash return at today's price
↓-1.4%
Free cash flow divided by market cap — the cash yield you're getting for the price you pay. Above ~6% is rich, below ~3% is thin. P/E shown when the yield is too small to be useful.
Eni has slipped below its daily moving average with declining momentum and volume, indicating a short-term markdown. Despite the longer-term trend still being officially 'MARKUP' by prior assessment, current price action is weak. We maintain a WAIT given the conflicting indicators and to avoid catching a falling knife.
Short-term thesis
Eni is in a transitional phase, aiming to leverage its position as a Mediterranean gas hub and expand into biofuels and renewables. However, this transition is coinciding with clear fundamental weaknesses, including poor profitability, negative free cash flow, and heavy debt. While the long-term strategic shift toward energy security and decarbonization presents potential, the immediate financial health is concerning. The stock's modest valuation might appeal to long-term value investors, but significant operational improvements are needed to justify a sustained upward trajectory.
Long-term exposure
Avoid
The business or valuation backdrop is not ready for long-term conviction.
Entry window
Wait
The stock is currently trading below its daily 21-day moving average, indicating short-term weakness, with contracting volume suggesting reduced buying interest. While it remains above its weekly 21-day average, the immediate trend is down. Given the mixed signals and recent price action, it's prudent to wait for clearer strength or for it to reclaim key resistance levels.
Risk check
Fragile
The downside can widen quickly if this setup goes wrong.
Alignment
Aligned
The weekly weakness matches a poor long-term backdrop.
What supports it
What limits it
Long-term thesis
The increasing global demand for energy security, particularly natural gas in Europe, combined with the accelerating transition to lower-carbon energy sources like biofuels and renewables defines Eni's long-term opportunity. As Europe diversifies its energy supply, Eni's role as an indispensable Mediterranean gas hub provides a strategic advantage.
Bottleneck Role
Indispensable Mediterranean gas hub, expanding into biofuels and renewable energy production.
Consensus Blind Spot
The market might be underestimating Eni's ability to pivot its legacy infrastructure and expertise to successfully capitalize on both the ongoing need for traditional energy security and the accelerating demand for sustainable energy alternatives. While current financials are weak, the strategic positioning for a dual energy future could provide asymmetrical upside not reflected in trailing metrics.
Demand Gap
The gap between Europe's current energy import reliance and its push for diversified, lower-carbon sources creates persistent demand for both conventional gas and new energy solutions that Eni is developing.
Demand to Equity Scenarios
Global economic slowdown, rapid decline in fossil fuel demand, intensified competition in renewables.
Demand
-10%
Earnings
-15%
Equity implication
-20%
Weak utilization of legacy assets, delayed ramp-up of new energy projects, pricing pressure.
Continued focus on European energy security, moderate growth in biofuels demand, steady renewable energy build-out.
Demand
+5%
Earnings
+5%
Equity implication
+10%
Stable gas revenues supported by long-term contracts, gradual growth from diversified energy segments.
Accelerated global energy transition, strong policy support for biofuels/renewables, geopolitical events boosting demand for diversified gas supplies.
Demand
+15%
Earnings
+15%
Equity implication
+25%
Optimal utilization of both legacy and new assets, significant pricing power in core and growth segments.
Dependency Chain
Repricing Triggers
Must be true
Thesis broken if
What changed
Signal
Conviction
Long term
Stock
Added since last run
7No longer flagged
0Nothing dropped this run
The prior call to BUY at $23.36 was neutral as the price has moved slightly lower into a consolidation. The reasoning that the stock was ready to resume its upward path was not completely accurate as it failed to hold its momentum.
Jun 12, 2026
LatestUpdated Jun 12, 2026, 9:58 AM UTC
Price at review
$22.75
The stock is currently trading below its daily 21-day moving average, indicating short-term weakness, with contracting volume suggesting reduced buying interest. While it remains above its weekly 21-day average, the immediate trend is down. Given the mixed signals and recent price action, it's prudent to wait for clearer strength or for it to reclaim key resistance levels.
Jun 5, 2026
Updated Jun 5, 2026, 9:51 AM UTC
Price at review
$23.37
The stock has regained its footing and looks ready to resume its upward path as buyers reappear.
May 29, 2026
Updated May 29, 2026, 8:52 AM UTC
Price at review
$22.43
The short-term trend has weakened significantly, and the stock is searching for a floor. It is best to wait for price to stabilize and show renewed interest before committing new capital.
May 13, 2026
Updated May 13, 2026, 5:35 PM UTC
Price at review
$23.57
The stock is treading water near its recent average price while trading volume dries up. Expect quiet trading until it either clears overhead resistance or settles toward its longer-term trend line.
Jan 21, 1970
Updated Apr 27, 2026, 10:13 PM UTC
Price at review
$23.01
The stock remains in a confirmed weekly uptrend with price well above key support at 21.00, though momentum has stalled near prior resistance zone of 25.00-25.02. With earnings passed and no immediate catalyst, expect consolidation or shallow pullback toward 22.50-23.00 zone before potential next leg. Forward P/E of 9.9 embeds significant pessimism if energy prices hold.
Jan 21, 1970
Updated Apr 24, 2026, 6:03 PM UTC
Price at review
$22.95
ENI.MI is in a strong weekly uptrend, significantly above its 21-week EMA, indicating sustained bullish momentum. While facing recent revenue headwinds, the forward P/E suggests potential undervaluation. The current pullback offers a potential entry point for investors capitalizing on the longer-term uptrend.