Current Price
$53.50
Intrinsic Value
$83.12
+35.6% margin of safety
COMPETITIVE MOAT
↑Integrated Energy Infrastructure
Eni's extensive network of refineries, pipelines, and retail stations creates significant barriers to entry. This integrated model allows for cost efficiencies and market control across the value chain.
↑Strategic African Asset Base
The company holds substantial, long-life oil and gas reserves in Africa, particularly with the Baleine project expansion. These low-cost production assets provide a competitive advantage and long-term revenue streams.
↑Energy Transition Investments
Eni's proactive investments in battery technology and storage through partnerships with FIB and Seri Industrial position it for future energy markets. This diversification mitigates reliance on fossil fuels.
INVESTMENT RISKS
↓Commodity Price Volatility
As an integrated oil and gas company, Eni's profitability is highly sensitive to fluctuations in global oil and gas prices. Significant price drops can negatively impact revenue and margins.
↓Geopolitical Instability
Operations in regions like Africa expose Eni to political risks, potential disruptions, and regulatory changes. These factors can impact production and project timelines.
↓Energy Transition Pace
The speed and success of Eni's transition to renewable energy and new technologies are uncertain. A slower-than-expected shift could leave it vulnerable to evolving market demands and regulations.
Base case
E base case valuation
A base case discounted cash flow model for E estimates an intrinsic value of about $83.12 per share, against a current price of $53.5. The model assumes 15.3% annual free cash flow growth, a 10.0% discount rate, and a 22x exit multiple.
Intrinsic Value
$83.12
Margin of safety
+35.6%
Expected annual return
+9.2%
Base case assumptions: 15.3% annual growth, 10.0% discount rate, 22x exit multiple, 5 year projection. Data as of 2026-06-12.
This base case uses default assumptions and is not financial advice. The intrinsic value changes significantly when the growth rate or discount rate changes. Open the calculator to set your own assumptions and see the full sensitivity range.
Customize the E valuation
Adjust the growth rate, discount rate, and exit multiple to see how the intrinsic value and margin of safety for Eni S.p.A. respond.
Open DCF Calculator for ECompany Overview
Eni S.p.A. is an international energy company primarily engaged in the discovery, development, and extraction of crude oil and natural gas resources. Its operations are organized into distinct divisions: Exploration & Production; Global Gas & LNG Portfolio; Refining & Marketing and Chemicals; Plenitude and Power; and Corporate and Other activities. The Exploration & Production division is responsible for the research, development, and output of oil, condensates, and natural gas, additionally undertaking initiatives in forestry conservation and carbon dioxide capture and storage. Its Global Gas & LNG Portfolio division oversees the procurement and wholesale distribution of natural gas via pipelines, including international transport, along with the acquisition and sale of liquefied natural gas (LNG). The Refining & Marketing and Chemicals segment manages the processing, supply, distribution, and commercialization of various fuels and chemical products. The Plenitude and Power segment, formerly known as Eni gas e luce, handles the retail provision of gas and electricity, alongside related services, and is involved in generating and wholesaling electricity from both thermoelectric and renewable power facilities. As of December 31, 2021, the company declared net proved reserves totaling 6,628 million barrels of oil equivalent and possessed an operational capacity of 4.5 gigawatts (GW). Established in 1953, Eni's corporate headquarters are situated in Rome, Italy.
Financial Metrics — E Stock Valuation Data
Revenue/Share (TTM)
$26.93
FCF/Share (TTM)
$1.02
ROIC (TTM)
1.6%
ROE (TTM)
5.2%
P/FCF
21.7x
EV/EBITDA
6.4x
FCF Yield
4.62%
Debt/Equity
0.74x
Based on trailing twelve-month data, E shows a free cash flow per share of $1.02 and a ROIC of 1.6%, key inputs for stock valuation using the DCF method. The P/FCF ratio of 21.7x and FCF yield of 4.62% are important context metrics when evaluating E's stock valuation relative to peers.
Frequently Asked Questions
What is the intrinsic value of E?
Eni S.p.A. currently generates $1.02 in free cash flow per share. At the current price of $53.50, a DCF model would discount these cash flows at an appropriate WACC and apply a terminal growth rate to arrive at an intrinsic value. The result depends heavily on your growth and discount rate assumptions — a 1% change in WACC typically shifts the fair value estimate by 10-15%. In MiniValuator the model uses a single discount rate that you can edit directly, 10% by default, rather than a computed WACC.
Is E undervalued?
E trades at a P/FCF ratio of 21.7x with a free cash flow yield of 4.62%. This P/FCF is in a moderate range. However, whether E is truly undervalued requires comparing the DCF intrinsic value to the current market price and evaluating whether the margin of safety is sufficient for your risk tolerance.
How do I value E stock using DCF?
To perform a DCF valuation on Eni S.p.A.: (1) Start with the trailing free cash flow per share ($1.02) as the base, (2) project future FCF growth over 5-10 years based on Oil & Gas Integrated industry trends and company fundamentals, (3) apply a discount rate (WACC) reflecting E's risk profile — with a debt-to-equity of 0.74x, capital structure is an important factor, and (4) add a terminal value for cash flows beyond the projection period.
What is DCF valuation and how does it apply to E?
DCF (Discounted Cash Flow) estimates what a company is worth today based on its future cash generation. For Eni S.p.A., this means projecting how much free cash flow the company will produce over the next 5-10 years, shaped by Oil & Gas Integrated trends, then discounting those amounts to today's dollars. E's ROIC of 1.6% suggests the company may face challenges generating returns above its cost of capital.
How does WACC affect E stock valuation?
WACC (Weighted Average Cost of Capital) is the discount rate in a DCF model — it reflects the minimum return investors require. For E, with a debt-to-equity ratio of 0.74x, the capital structure directly influences WACC. A 1% increase in WACC typically reduces the intrinsic value by 10-15%. At an EV/EBITDA of 6.4x, the market's implied discount rate can be reverse-engineered for comparison. In MiniValuator you set this discount rate yourself as a single editable number, 10% by default, instead of computing a formal WACC.
Learn More
- See E PE Valuation → — Earnings-based stock valuation using PE ratio analysis
- DCF Methodology — Step-by-step guide to discounted cash flow analysis
- PE Methodology — Guide to PE ratio stock valuation
- WACC — Understanding the discount rate used in DCF
- Margin of Safety — How to evaluate downside protection
- Intrinsic Value — How to evaluate stock fair value
- How to Calculate Intrinsic Value — Complete guide for investors
Related Valuations
All Energy valuationsDCF and P/E value E with different methods and assumptions, so the two conclusions can differ. Compare the P/E fair value.
Price as of 2026-06-12. Financial data from Financial Modeling Prep (trailing twelve months) · Valuation methodology by Charlie Wang.
This is an estimate, not investment advice.