ENI SPA
E, EIPAF · Crude Petroleum & Natural Gas · EDGAR filings ↗
Grade
B79Large integrated energy major with strong earnings recovery and disciplined capital framework, but graded on sparse, stale data.
Strengths
- Net income growth +193% (91.9th pct) reflecting a strong recovery year
- Disciplined financial framework with low gearing target (0.1-0.15) and ~€18.8B liquidity reserve
Risks
- Commodity-price and macro cyclicality; capital-intensive E&P with low spending flexibility
- Heavy reliance on asset disposals to fund the 2026 plan and dividend
Notable findings
- No interest coverageInterest coverage 0.61 (cannot cover interest)
- Strong balance sheetStrong balance sheet — $9.5B cash & investments
Key metrics
Operating margin
6.1%
Net margin
3.4%
Return on equity
5.2%
Return on assets
2.0%
ROIC
4.9%
Revenue growth (QoQ)
4.5%
Net-income growth
12.7%
Debt / equity
0.5×
Interest coverage
0.6×
Free cash flow
$5.4B
Tangible book value
$58.3B
Cash & investments
$9.5B
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2026-03-23 | 2025-12-31 | 0001554855-26-000390 ↗ |
| 20-F | 2025-04-04 | 2024-12-31 | 0001554855-25-000286 ↗ |
| 20-F | 2024-04-05 | 2023-12-31 | 0001554855-24-000249 ↗ |
| 20-F | 2023-04-05 | 2022-12-31 | 0001554855-23-000224 ↗ |
| 20-F | 2022-04-08 | 2021-12-31 | 0001104659-22-043979 ↗ |
| 20-F | 2021-04-02 | 2020-12-31 | 0001104659-21-046015 ↗ |
| 20-F | 2020-04-02 | 2019-12-31 | 0001104659-20-042364 ↗ |
| 20-F | 2019-04-05 | 2018-12-31 | 0001174947-19-000533 ↗ |
| 20-F | 2018-04-06 | 2017-12-31 | 0001174947-18-000586 ↗ |
| 20-F | 2017-03-22 | 2016-12-31 | 0001174947-17-000442 ↗ |
| 20-F | 2016-04-12 | 2015-12-31 | 0001311435-16-000022 ↗ |
| 20-F | 2015-04-02 | 2014-12-31 | 0001311435-15-000006 ↗ |