Enagás S.A. (ENG) fair value: what the stock is really worth
We calculate from audited financials what Enagás S.A. is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily, free.
Compare price with fair valuebelow fair value = cheap, above = expensive
Check the quality50 and up solid, 75 and up strong
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Utilities · ES · Market cap €4.4B · ISIN ES0130960018
At a glance
ESEnagás S.A.ENG · MC
Price€16.58
Fair Value€11.72
Upside−29.3%
Quality54/100
A solid business, but trading 41% above our fair value of €11.72.
As of Sep 8, 2026, the fair value of Enagás S.A. is €11.72 per share against a price of €16.58, so the fair value sits 29% below the price. A model estimate from reported figures, not an analyst target.
!Weak Growth (revenue 5y −2.1 %/yr)
✓Highly profitable · 33.9% net margin
✓Moderate debt · generates free cash flow
!Mixed vs. peers (7/15)
!Moderate moat 58/100
Evidence: HighRange €8.60 to €16.46
Fair value as of: Sep 8, 2026
From 24 valuation models · updated 3 days ago
Fair value updated Sep 8, 2026, revised from €9.47 to €11.72 (+23.7%) since Aug 31, 2026. Share price −0.7% over the past month.
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69 individual criteria per stock, every one traceable See the method →
What matters now
Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder.
A fairly wide model range (€8.60 to €16.46) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 8, 2026.
How to read this chart
60‑month range €10.07 – €17.58 · fair‑value band €8.60 – €16.46 · the €16.58 price screens above the €11.72 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 8, 2026.
Enagás S.A. (ENG) currently trades at €16.58, while our model-based Fair Value estimate is €11.72, implying the stock looks roughly 41.5% overvalued today. The Quality Score stands at 54/100 (solid quality), in the Utilities sector. Bull case: the Growth Earnings group reads highest at a median of €14.10 per share, and 1 of the 22 models we run sit above the €16.58 price. Bear case: the Earnings-Based group reads lowest at €1.55, and 21 of the 22 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Enagás S.A. generated revenue of €975M at a net margin of 33.9%. Revenue grew 7.4% year over year. It earns a return on equity of 14.8%. Net debt stands at €2.1B. Fundamentals as of Sep 8, 2026
Scenario range: €8.60 (bear) to €16.46 (bull), the price of €16.58 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target. The share trades about 5% below its 52-week high and 31% above its 52-week low, currently above its 200-day average. For context, the median of 10 Utilities peers we cover trades at −24% fair-value upside, at −29%, ENG screens richer than that median.
Fair Value models
Based on fiscal year 2025 figures (about 8 months old). Earnings retained since then (€0.8734 per share) are deliberately not added.
Each model values the company its own way; the fair value above is the evidence-weighted blend. Evidence (0 to 100) shows how complete a model's inputs are. How we calculate →
ModelBear ⓘ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.Evidence
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Key figures & financial health
P/E ratio13.2
P/S ratio3.71P/E × margin
EPS (TTM)€1.26price ÷ EPS = P/E 13.2
Dividend yield5.9%payout 77.7%
Net margin28.2%FY2025
Return on equity14.8%TTM
More key figures
Profitability
Return on assets (EBIT)5.1%avg 5y
Operating margin12.9%TTM
Growth
Revenue (TTM)€975MTTM
Revenue growth (YoY)+7.4%3y avg −0.3%
EPS growth (YoY)+274%
Balance sheet & cash flow
Free cash flow€94.4MFY2025
Net debt€2.1BFY2025 · ≈ 22.2 yrs of FCF
Figures from reported company fundamentals · as of Sep 8, 2026. TTM = trailing twelve months.
Quality Score breakdown
Overall quality54/100
Of which business quality 49
· Market factors (momentum, volatility) 73
Profitability38
Margins and returns on capital today
Quality Growth58
Are margins and returns improving?
Cashflow41
Earnings quality: real cash, not paper profit
Fin. Strength26
Balance sheet, leverage, solvency risk
Investment81
Disciplined investing over empire-building
Low Volatility93
Calm price path (market factor)
Momentum57
Price trend over the last 3–12 months (market factor)
52W Momentum78
Distance to the 52-week high (market factor)
Net Issuance76
Buybacks instead of dilution
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Enagás, S.A. engages in the transmission, storage, and regasification of natural gas. It operates through Regulated Gas Activities, Regulated Activities " Hydrogen Infrastructure, New Businesses, and International segments.
Full company description
Enagás, S.A. engages in the transmission, storage, and regasification of natural gas. It operates through Regulated Gas Activities, Regulated Activities " Hydrogen Infrastructure, New Businesses, and International segments. The company provides gas transmission services through primary and secondary transmission pipelines; and natural gas regasification services, as well as operates underground storage facilities. It is also involved hydrogen infrastructure activities; and non-regulated activities related to new energies, such as biomethane, ammonia, and CO2. In addition, the company engages in the technical management of the gas system; financial management; gas transmission; development of industrial projects and activities relating to LNG terminals; development and implementation of facilities for the supply of natural gas; provision of commercial services; designing, constructing, operating, and maintaining hydrogen and other gas production facilities; and maritime transport activities by managing merchant ships. The company was incorporated in 1972 and is headquartered in Madrid, Spain.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Enagás S.A. reported revenue of €949M in FY2025 versus €976M in FY2021, a compound −0.7%/yr. Reported net income was €268M in FY2025, compounding −9.8%/yr from FY2021.
Growth Quality 40/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
€949M
Latest YoY
+4.8%
Avg. revenue growth/yr (3Y) ⓘ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.
−0.3%
Avg. revenue growth/yr (5Y) ⓘ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.
−2.1%
Avg. revenue growth/yr (22Y) ⓘ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.
−2.3%
Value creation/yr (5Y) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
−3.9%
Earnings growth per share plus dividend yield: the value created per share and year.
Earnings growth per share−9.8%
Dividend yield5.9%
Trend ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.5Y −9.8% vs 10Y −5.2%, flattening
Operating margin (EBIT) ⓘ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.58.3% (2020) → 24.9% (2025) · falling
Worst earnings drop180% (2024) (loss year, drop beyond 100%) · in EUR
⚠ Revenue per share shrinking 3.7%/yr over ~10Y (margins intact) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
Revenue−0.7%/yr
FY21€976M
FY22€957M
FY23€908M
FY24€906M
FY25€949M
Net income−9.8%/yr
FY21€404M
FY22€376M
FY23€343M
FY24−€299M
FY25€268M
Character of growth · EPS growth decomposed (2014-2025)−4.3 % p.a.
Revenue per share−3.8 %
of which total revenue −2.8 % · buybacks/dilution −1.0 %
EBIT margin−2.6 %
Tax rate+0.6 %
Residual (interest, one-offs)+1.6 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
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). "Enagás S.A. Fair Value". https://www.fairvalue-calculator.com/stock/ENG
Peer Group
Utilities - Regulated Gas · 104 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation
Quality Score54 · Above median
Fair Value upside−29% · Bottom 25%
Profitability
Return on equity (TTM)15% · Top 25%
Return on assets2% · Below median
Net margin (TTM)34% · Top 25%
Operating margin (TTM)13% · Above median
Growth and dividend
Revenue growth7% · Top 25%
Dividend yield (TTM)5.9% · Top 25%
Balance sheet
Debt / equity0.97× · Highest 25%
Valuation Multiples vs Utilities - Regulated Gas median · lower = cheaper
P/E (TTM)13.2× · Cheaper than median
P/B2.21× · Priciest 25%
P/S (TTM)5.22× · Priciest 25%
P/FCF53.9× · Priciest 25%
EV/EBITDA14.6× · Priciest 25%
PEG16.55× · Priciest 25%
What the price implies (reverse DCF)
The inverse question: what free-cash-flow growth must Enagás S.A. deliver for ten years so that today's price is fair in our DCF model? Same formula, same discount rate as the fair value.
Implied FCF growth, 10 years+24.4 % per year
Achieved revenue growth, 5 years-2.1 % p.a.
Sector median revenue growth+0.7 %
FCF yield on price2.16 %
Discount rate (WACC) in the models9.7 %
The price demands an acceleration versus past growth: a high bar the company still has to clear. Ranking of the largest stocks →
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
This stockSector peers
VALUE0· sector 28
FUTURE37· sector 0
PAST59· sector 35
HEALTH51· sector 85
DIVIDEND100· sector 71
VALUE 0: the price sits above our fair-value range.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
None of the checked exposures detected
Similar stocks
10 more Utilities - Regulated Gas stocks, each showing price versus our Fair Value estimate (as of Sep 8, 2026).
As of Sep 8, 2026, our model estimates a fair value of €11.72 versus a price of €16.58, about −29% upside (overvalued).
What is the fair value of ENG?
Our model-based fair value for Enagás S.A. is €11.72 (as of Sep 8, 2026), built from audited fundamentals. The current price: €16.58.
What is the quality score of ENG?
Enagás S.A. has a Quality Score of 54/100. 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 Enagás S.A. (ENG)?
Our model-based price target is the fair value of €11.72 (as of Sep 8, 2026) from 24 valuation models. Cautious scenario €8.60, optimistic scenario €16.46. It is a calculation from audited fundamentals, not an analyst target.
What is the Enagás S.A. stock forecast for 2026?
Our models put fair value at €11.72, about −29% upside versus a price of €16.58 (overvalued). Cautious scenario €8.60, optimistic scenario €16.46. The calculation is refreshed regularly with new filings.
What is the revenue of Enagás S.A. (ENG)?
Enagás S.A. reported trailing-twelve-month revenue of about €975M (latest available figure, as of Sep 8, 2026).
What is the net profit margin of ENG?
The net profit margin of Enagás S.A. is about 33.9%, meaning it keeps roughly 33.9% of revenue as net income. Based on the latest reported figures.
Does Enagás S.A. pay a dividend?
Enagás S.A. currently shows a dividend yield of about 5.91% relative to its recent price (as of Sep 8, 2026).
What growth is priced into Enagás S.A. (ENG)?
For today's price to be fair in a discounted-cash-flow model, Enagás S.A. would have to grow free cash flow by +24.4 % per year for ten years (discount rate 9.7 %, then 2 % perpetual growth). Over the last 5 years revenue grew -2.1 % per year. As of Sep 8, 2026.
What discount rate (WACC) does the fair value of ENG use?
Our models discount Enagás S.A. at 9.7 %: a base by market capitalisation (mid), damped by beta 0.26, country premium for Spain. The same rate applies in all 26 models.
What is the intrinsic value of Enagás S.A. (ENG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Enagás S.A. it is €11.72 per share (as of Sep 8, 2026), against a price of €16.58. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Enagás S.A. stock overvalued or undervalued in 2026?
As of Sep 8, 2026, ENG trades above its calculated fair value: price €16.58, fair value €11.72, a gap of about −29% (overvalued). 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 ENG?
No. The price is what the market pays today (€16.58); the fair value is what the company's own numbers justify (€11.72). For Enagás S.A. the two are €4.86 per share apart. That gap is exactly why we show both numbers side by side.
How much is Enagás S.A. worth?
The market values Enagás S.A. at about €4.4B (market capitalisation, as of Sep 8, 2026). Per share that is €16.58; our models calculate a fair value of €11.72 per share.
What do the bullish and bearish scenarios say about ENG?
Our models span a range for Enagás S.A.: cautious scenario €8.60, base €11.72, optimistic €16.46 per share (as of Sep 8, 2026, price €16.58). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ENG?
Enagás S.A. trades at a price-to-earnings ratio of 13.2 (as of Sep 8, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of €11.72 is built from several models across several years. Other multiples: PEG 16.6, P/B 2.2, P/S 5.2, EV/EBITDA 14.6.
What is the PEG ratio of ENG?
The PEG ratio of Enagás S.A. is 16.55 (P/E divided by earnings growth, as of Sep 8, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Enagás S.A. (ENG)?
Balance-sheet figures for Enagás S.A. (as of Sep 8, 2026): return on equity 14.8%, debt of 0.97 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is ENG from its 52-week high?
Enagás S.A. trades at €16.58, about 5% below its 52-week high of €17.38 and 31% above the low of €12.62 (as of Sep 8, 2026). Distance from the high says nothing about value: that is what the fair value of €11.72 is for.
Which stocks are comparable to Enagás S.A.?
From the same area (Utilities) we also value Naturgy Energy Group, Atmos Energy Corporation, NiSource Inc, Uniper SE, 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 Enagás S.A. stock attractive at the current price?
The data as of Sep 8, 2026: price €16.58, calculated fair value €11.72 (−29%), Quality Score 54/100, from 24 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 ENG calculated?
We run Enagás S.A. through 24 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 €11.72, 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 32.6 % above its aggregate fair value. Enagás S.A. itself currently trades above fair value. 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 <a href="/is-it-worth-investing-now/">is it worth investing now</a>.
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