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 12,531 11,457 10,374
Change - -35.55% 35.61% 14.74% -19.01% -16.94% -8.57% -9.45%
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 7,181 6,530 6,540
Change - 53.92% 14.39% -7.92% 1.91% -16.95% -9.07% 0.16%
Free Cash Flow (FCF) 1 7,617 9,404 5,904 4,607 4,683 8,263 7,776 8,220
Change - 23.46% -37.22% -21.97% 1.65% 76.45% -5.89% 5.7%
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% 20.54% 20.12% 20.55%
EBIT Margin (%) 12.63% 15.42% 14.73% 11.65% 10.16% 13.03% 11.92% 12.09%
EBT Margin (%) 14.5% 16.69% 10.89% 7.33% 7.03% 14.76% 12.99% 12.76%
Net margin (%) 8% 10.44% 5.07% 2.97% 3.17% 7.5% 6.71% 6.64%
FCF margin (%) 9.95% 7.11% 6.3% 5.19% 5.7% 8.45% 8.49% 8.92%
FCF / Net Income (%) 124.3% 68.1% 124.37% 174.44% 179.56% 112.75% 126.56% 134.35%

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% 14.7% 12.28% 11.82%

Financial Health

        
Leverage (Debt/EBITDA) 1.11x 0.48x 0.76x 1.03x 0.96x 0.62x 0.62x 0.55x
Debt / Free cash flow 2.44x 1.27x 2.75x 4.04x 3.22x 1.52x 1.47x 1.26x

Capital Intensity

        
CAPEX / Current Assets (%) 6.84% 6.09% 9.83% 9.56% 10.53% 7.35% 7.13% 7.1%
CAPEX / EBITDA (%) 31.29% 32.56% 43.3% 46.9% 55.1% 35.75% 35.44% 34.54%
CAPEX / FCF (%) 68.71% 85.67% 156.08% 184.18% 184.65% 86.91% 83.97% 79.57%

Items per share

        
Cash flow per share 1 3.596 5.003 4.544 4.053 4.317 5.197 5.159 5.433
Change - 39.12% -9.17% -10.81% 6.51% 20.4% -0.73% 5.3%
Dividend per Share 1 0.86 0.88 0.94 1 1.05 1.096 1.143 1.188
Change - 2.33% 6.82% 6.38% 5% 4.37% 4.28% 4%
Book Value Per Share 1 12.5 15.72 16.09 16.68 15.85 17.08 18.08 19.13
Change - 25.75% 2.36% 3.67% -4.99% 7.76% 5.89% 5.76%
EPS 1 1.69 3.93 1.4 0.79 0.78 2.502 2.247 2.292
Change - 132.54% -64.38% -43.57% -1.27% 220.83% -10.2% 1.98%
Nbr of stocks (in thousands) 3,538,443 3,364,864 3,221,837 3,087,185 3,032,919 2,940,278 2,940,278 2,940,278
Announcement Date 18/02/22 23/02/23 16/02/24 27/02/25 26/02/26 - - -
1EUR
Estimates
2026 *2027 *
P/E 8.39x 9.35x
PBR 1.23x 1.16x
EV / Sales 0.76x 0.8x
Yield 5.22% 5.44%

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
21.00EUR
Average target price
24.87EUR
Spread / Average Target
+18.41%

Quarterly revenue - Rate of surprise