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 12,431 11,190 9,839
Change - -35.55% 35.61% 14.74% -19.01% -17.6% -9.98% -12.07%
Announcement Date 2/18/22 2/23/23 2/16/24 2/27/25 2/26/26 - - -
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 7,177 6,483 6,493
Change - 53.92% 14.39% -7.92% 1.91% -17% -9.67% 0.15%
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 2/18/22 2/23/23 2/16/24 2/27/25 2/26/26 - - -
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% 20.4% 20.18% 20.36%
EBIT Margin (%) 12.63% 15.42% 14.73% 11.65% 10.16% 12.76% 11.71% 11.76%
EBT Margin (%) 14.5% 16.69% 10.89% 7.33% 7.03% 15.2% 13.03% 12.9%
Net margin (%) 8% 10.44% 5.07% 2.97% 3.17% 7.28% 6.7% 6.63%
FCF margin (%) 9.95% 7.11% 6.3% 5.19% 5.7% 8.27% 8.42% 8.76%
FCF / Net Income (%) 124.3% 68.1% 124.37% 174.44% 179.56% 113.6% 125.7% 132.24%

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% 14.97% 12.4% 12.01%

Financial Health

        
Leverage (Debt/EBITDA) 1.11x 0.48x 0.76x 1.03x 0.96x 0.61x 0.6x 0.52x
Debt / Free cash flow 2.44x 1.27x 2.75x 4.04x 3.22x 1.5x 1.44x 1.2x

Capital Intensity

        
CAPEX / Current Assets (%) 6.84% 6.09% 9.83% 9.56% 10.53% 7.18% 7.02% 6.92%
CAPEX / EBITDA (%) 31.29% 32.56% 43.3% 46.9% 55.1% 35.2% 34.78% 34.01%
CAPEX / FCF (%) 68.71% 85.67% 156.08% 184.18% 184.65% 86.85% 83.37% 79%

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% 4.35% 4.29% 4.01%
Book Value Per Share 1 12.5 15.72 16.09 16.68 15.85 17.15 18.1 19.25
Change - 25.75% 2.36% 3.67% -4.99% 8.19% 5.55% 6.36%
EPS 1 1.69 3.93 1.4 0.79 0.78 2.519 2.262 2.344
Change - 132.54% -64.38% -43.57% -1.27% 223.01% -10.23% 3.65%
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 2/18/22 2/23/23 2/16/24 2/27/25 2/26/26 - - -
1EUR
Estimates
2026 *2027 *
P/E 8.09x 9.01x
PBR 1.19x 1.13x
EV / Sales 0.72x 0.77x
Yield 5.37% 5.6%

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
20.39EUR
Average target price
25.10EUR
Spread / Average Target
+23.12%

Quarterly revenue - Rate of surprise