Projected Income Statement: Eni

Forecast Balance Sheet: Eni

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 18,576 11,972 16,235 18,628 15,086 12,662 11,598 10,473
Change - -35.55% 35.61% 14.74% -19.01% -16.07% -8.4% -9.7%
Announcement Date 18/02/22 23/02/23 16/02/24 27/02/25 26/02/26 - - -
1EUR in Million
Estimates

Cash Flow Forecast: Eni

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 5,234 8,056 9,215 8,485 8,647 7,159 6,522 6,532
Change - 53.92% 14.39% -7.92% 1.91% -17.21% -8.9% 0.16%
Free Cash Flow (FCF) 1 7,617 9,404 5,904 4,607 4,683 8,972 8,059 8,618
Change - 23.46% -37.22% -21.97% 1.65% 91.59% -10.17% 6.93%
Announcement Date 18/02/22 23/02/23 16/02/24 27/02/25 26/02/26 - - -
1EUR in Million
Estimates

Forecast Financial Ratios: Eni

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) 21.85% 18.71% 22.71% 20.37% 19.1% 16.45% 19.63% 19.99%
EBIT Margin (%) 12.63% 15.42% 14.73% 11.65% 10.16% 9.88% 11.65% 11.82%
EBT Margin (%) 14.5% 16.69% 10.89% 7.33% 7.03% 12.64% 12.69% 12.7%
Net margin (%) 8% 10.44% 5.07% 2.97% 3.17% 5.77% 6.47% 6.64%
FCF margin (%) 9.95% 7.11% 6.3% 5.19% 5.7% 7.22% 8.63% 9.19%
FCF / Net Income (%) 124.3% 68.1% 124.37% 174.44% 179.56% 125.05% 133.45% 138.44%

Profitability

        
ROA 3.83% 9.53% 5.63% 3.64% 3.51% 5.42% 4.92% 4.3%
ROE 11.54% 26.84% 15.38% 9.93% 9.91% 13.78% 12.15% 11.98%

Financial Health

        
Leverage (Debt/EBITDA) 1.11x 0.48x 0.76x 1.03x 0.96x 0.62x 0.63x 0.56x
Debt / Free cash flow 2.44x 1.27x 2.75x 4.04x 3.22x 1.41x 1.44x 1.22x

Capital Intensity

        
CAPEX / Current Assets (%) 6.84% 6.09% 9.83% 9.56% 10.53% 5.76% 6.99% 6.96%
CAPEX / EBITDA (%) 31.29% 32.56% 43.3% 46.9% 55.1% 35.03% 35.59% 34.84%
CAPEX / FCF (%) 68.71% 85.67% 156.08% 184.18% 184.65% 79.79% 80.92% 75.8%

Items per share

        
Cash flow per share 1 3.596 5.003 4.544 4.053 4.317 5.02 5.047 5.425
Change - 39.12% -9.17% -10.81% 6.51% 16.3% 0.53% 7.49%
Dividend per Share 1 0.86 0.88 0.94 1 1.05 1.106 1.144 1.189
Change - 2.33% 6.82% 6.38% 5% 5.37% 3.42% 3.95%
Book Value Per Share 1 12.5 15.72 16.09 16.68 15.85 15.9 17.92 19
Change - 25.75% 2.36% 3.67% -4.99% 0.35% 12.67% 6.02%
EPS 1 1.69 3.93 1.4 0.79 0.78 2.465 2.245 2.333
Change - 132.54% -64.38% -43.57% -1.27% 216.03% -8.92% 3.93%
Nbr of stocks (in thousands) 35,38,443 33,64,864 32,21,837 30,87,185 30,32,919 29,36,054 29,36,054 29,36,054
Announcement Date 18/02/22 23/02/23 16/02/24 27/02/25 26/02/26 - - -
1EUR
Estimates
2026 *2027 *
P/E 8.93x 9.81x
PBR 1.38x 1.23x
EV / Sales 0.62x 0.82x
Yield 5.03% 5.2%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
A
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
22
Last Close Price
22.02EUR
Average target price
24.91EUR
Spread / Average Target
+13.17%

Quarterly revenue - Rate of surprise