Eni S.p.A (0N9S) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Eni S.p.A €58.33, price €24.32, upside +139.8%, quality 53 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 29, 2026.
How to read this chart
60‑month range €6.78 – €24.72 · fair‑value band €50.36 – €72.10 · the €24.32 price screens below the €58.33 fair value. Dashed = 300-day average. As of Sep 29, 2026.
Eni S.p.A. operates as an integrated energy company in Italy, Other European Union, Rest of Europe, the United States, Asia, Africa, and internationally.
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Eni S.p.A. operates as an integrated energy company in Italy, Other European Union, Rest of Europe, the United States, Asia, Africa, and internationally. The company engages in exploration, development, extracting, manufacturing, trading, and marketing crude oil and natural gas, oil-based fuels, chemical products, and gas-fired power, as well as energy products from renewable sources. The company operates through Exploration & Production; Global Gas & LNG Portfolio and Power; Refining and Chemicals; Enilive; Plenitude; and Corporate and Other Activities segments. The company engages in research, development, and production of oil, condensates, and natural gas. It is also involved in the supply and sale of wholesale natural gas through pipelines; electricity; and international transport, and purchase and marketing of liquefied natural gas. In addition, the company supplies bio-feedstock and crude oil; and stores, produces, distributes, and markets biofuels, oil products, biomethane, basic chemical and petrochemical products, intermediates, plastics and elastomers, and other chemicals, as well as provides smart mobility solutions and services. Further, the company engages in the retail marketing of gas, power, and related services; production and wholesale sale of electricity from renewable plants; and building and managing a network of charging points for electric vehicles. Eni S.p.A. was founded in 1953 and is headquartered in Rome, Italy.
Stock analysis
Eni S.p.A (0N9S) currently trades at €24.32, while our model-based Fair Value estimate is €58.33, implying the stock looks roughly 58.3% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of €61.97 per share, and 8 of the 12 models we run sit above the €24.32 price.
Bear case: the Asset-Based group reads lowest at €12.82, and 4 of the 12 models stay below the price. Evidence for this calculation is low.
Scenario range: €50.36 (bear) to €72.10 (bull), the price of €24.32 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 53/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue is shrinking: the last year, the last three and the last five years are all negative.
Eni S.p.A reported revenue of €44.0B in FY2020 versus €55.8B in FY2016, a compound −5.8%/yr. Reported net income was −€8.6B in FY2020.
Key figures
Market cap €47.5B · P/S ratio 0.56 · Dividend yield 3.2% · Net margin −19.6% · Return on equity 5.9% · Return on assets (EBIT) 3.9% · Operating margin 4.3% · Revenue (TTM) €84.5B.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (low confidence).
What moves the price
The share trades about 2% below its 52-week high and 72% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −40% fair-value upside, at 140%, 0N9S screens cheaper than that median.
Fair Value models
Bear €50.36Fair Value €58.33Bull €72.10
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.29/100
Revenue is shrinking: the last year, the last three and the last five years are all negative.
Revenue growth 1 year
−37.1%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−13.1%
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
3.5% (2016) → −7.4% (2020)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no share-count history
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its sector: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median. (Industry “Machinery” was too small, so the broader sector is used.)Industrials · 5298 stocks
Beats the sector median on 4/12 measures
Overall it trails its sector peers.
Valuation
Quality Score53 · Below median
Fair Value upside−19.6% · Below median
Profitability
Return on equity (TTM)5.9% · Below median
Return on assets2.3% · Below median
Net margin (TTM)3.0% · Below median
Operating margin (TTM)4.3% · Below median
Growth and dividend
Revenue growth−12.6% · Bottom 25%
Dividend yield (TTM)3.2% · Above median
Balance sheet
Debt / equity0.59× · Highest 25%
Valuation Multiplesvs Industrials median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Eni S.p.A Fair Value". https://www.fairvalue-calculator.com/stock/0N9S
Frequently asked questions
Is Eni S.p.A (0N9S) overvalued or undervalued?
As of Sep 29, 2026, our model estimates a fair value of €58.33 versus a price of €24.32, about +140% upside (undervalued).
What is the fair value of 0N9S?
Our model-based fair value for Eni S.p.A is €58.33 (as of Sep 29, 2026), built from audited fundamentals. The current price: €24.32.
What is the quality score of 0N9S?
Eni S.p.A has a Quality Score of 53/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Eni S.p.A (0N9S)?
Our model-based price target is the fair value of €58.33 (as of Sep 29, 2026) from 12 valuation models. Cautious scenario €50.36, optimistic scenario €72.10. It is a calculation from audited fundamentals, not an analyst target.
What is the Eni S.p.A stock forecast for 2026?
Our models put fair value at €58.33, about +140% upside versus a price of €24.32 (undervalued). Cautious scenario €50.36, optimistic scenario €72.10. The calculation is refreshed regularly with new filings.
What is the revenue of Eni S.p.A (0N9S)?
Eni S.p.A reported trailing-twelve-month revenue of about €84.5B (latest available figure, as of Sep 29, 2026).
Does Eni S.p.A pay a dividend?
Eni S.p.A currently shows a dividend yield of about 3.25% relative to its recent price (as of Sep 29, 2026).
What is the intrinsic value of Eni S.p.A (0N9S)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Eni S.p.A it is €58.33 per share (as of Sep 29, 2026), against a price of €24.32. It is the blended result of 12 valuation models (cash flow, earnings, asset, dividend).
Is Eni S.p.A stock overvalued or undervalued in 2026?
As of Sep 29, 2026, 0N9S trades below its calculated fair value: price €24.32, fair value €58.33, a gap of about +140% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 0N9S?
No. The price is what the market pays today (€24.32); the fair value is what the company's own numbers justify (€58.33). For Eni S.p.A the two are €34.01 per share apart. That gap is exactly why we show both numbers side by side.
How much is Eni S.p.A worth?
The market values Eni S.p.A at about €47.5B (market capitalisation, as of Sep 29, 2026). Per share that is €24.32; our models calculate a fair value of €58.33 per share.
What do the bullish and bearish scenarios say about 0N9S?
Our models span a range for Eni S.p.A: cautious scenario €50.36, base €58.33, optimistic €72.10 per share (as of Sep 29, 2026, price €24.32). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Eni S.p.A (0N9S)?
Balance-sheet figures for Eni S.p.A (as of Sep 29, 2026): return on equity 5.9%, debt of 0.59 per unit of equity. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is 0N9S from its 52-week high?
Eni S.p.A trades at €24.32, about 2% below its 52-week high of €24.72 and 72% above the low of €14.16 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of €58.33 is for.
Which stocks are comparable to Eni S.p.A?
From the same area (Industrials) we also value INLCM, Contemporary Amperex Technology Co, Delta Electronics (Thailand) Public Company, Larsen & Toubro Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Eni S.p.A stock attractive at the current price?
The data as of Sep 29, 2026: price €24.32, calculated fair value €58.33 (+140%), Quality Score 53/100, from 12 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 0N9S calculated?
We run Eni S.p.A through 12 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of €58.33, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Eni S.p.A currently trades 58 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Eni S.p.A (0N9S)?
The closing price on Oct 2, 2026 was €24.32. Our model-based fair value is €58.33, about +140% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Eni S.p.A right now?
The price is below even our cautious bear case (€50.36). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (53/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Eni S.p.A
How large is the market capitalisation of Eni S.p.A (0N9S)?
The market capitalisation of Eni S.p.A is €47.5B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Eni S.p.A (0N9S)?
The price-to-sales ratio of Eni S.p.A is 0.56 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of Eni S.p.A (0N9S)?
The dividend yield of Eni S.p.A is 3.2%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Eni S.p.A (0N9S)?
The net margin of Eni S.p.A is −19.6% (fiscal year 2020). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Eni S.p.A (0N9S)?
The return on equity (ROE) of Eni S.p.A is 5.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Eni S.p.A (0N9S)?
On an EBIT basis the return on assets of Eni S.p.A is 3.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Eni S.p.A (0N9S)?
The operating margin of Eni S.p.A is 4.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Eni S.p.A (0N9S)?
Revenue at Eni S.p.A is growing −12.6% versus a year earlier (3y avg −13.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Eni S.p.A (0N9S)?
Earnings per share at Eni S.p.A are growing +1.0% versus a year earlier. How much earnings per share grew versus a year earlier.
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