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Engie SA (ENGI) Fair Value & Analysis

Utilities · FR · Market cap €68.6B

ES Engie SA ENGI · PA
Price€26.72
Fair Value€23.85
Upside-10.7%
Quality34/100
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Mixed Growth
Thin margins · 5.3% net margin
Moderate debt · negative free cash flow
5.07% dividend yield
Mixed vs. peers (6/14)
Moderate moat 45/100
Evidence: Medium Range €18.52 – €28.66 Share as image

Fair value as of: Jul 18, 2026

From 15 valuation models · updated 23 days ago

Fair value updated Jul 18, 2026, revised from €23.71 to €23.85 (+0.6%) since Jul 16, 2026. Share price −0.2% over the past month.

Below-average quality, and screening another 11% overvalued on our models.

What matters now

  • Our model range runs from €18.52 (bear) to €28.66 (bull), base €23.85. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 34/100 (below-average quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

€28.11 €6.78 Fair Value €23.85 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range €6.78 – €28.11 · fair‑value band €18.52 – €28.66 · the €26.72 price screens above the €23.85 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

Engie SA (ENGI) currently trades at €26.72, while our model-based Fair Value estimate is €23.85, implying the stock looks roughly 10.7% overvalued today. The Quality Score stands at 34/100 (below-average quality), in the Utilities sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, Engie SA generated revenue of €71.9B at a net margin of 5.3%. Revenue declined 6.6% year over year. It earns a return on equity of 11.5%. Net debt stands at €43.3B. Fundamentals as of Jul 18, 2026

Our scenario range runs from €18.52 (bear case) to €28.66 (bull case); at €26.72, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 6% below its 52-week high and 63% above its 52-week low, currently above its 200-day average. For context, the median of 10 Utilities peers we cover trades at -48% fair-value upside, at -11%, ENGI screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Residual Income €11.97 €13.69 €21.35 76
ROIC Compounder €16.02 €21.07 €26.72 72
Gordon GGM €16.37 €19.02 €22.13 70
All 15 models by family
DCF Models
Owner Earnings €1.01 €6.79 31
Earnings-Based
Graham-Dodd €10.24 €15.55 €18.52 54
EPV €15.90 €20.22 €24.00 59
Dividend Discount
Gordon GGM €16.37 €19.02 €22.13 70
DDM Multi-Stage €16.37 €21.46 €27.98 61
Multiples
P/E Multiple €20.33 €27.11 €33.89 63
P/S Multiple €19.20 €25.60 €32.01 58
P/B Multiple €17.51 €23.34 €29.18 55
EV/EBIT €27.55 €40.08 €52.61 53
EV/EBITDA €31.30 €45.08 €58.86 54
EV/Revenue €20.37 €33.40 €46.43 43
Asset-Based
NCAV (Graham) €6.48 €8.69 €12.97 50
Economic Profit
Residual Income €11.97 €13.69 €21.35 76
ROIC Compounder €16.02 €21.07 €26.72 72
Growth Earnings
Growth-Adj P/E €14.45 €20.64 €26.83 68

Widest divergence: Multiples (€27.11) versus DCF Models (€1.01). Highest evidence: Residual Income (76).

Key figures & financial health

Revenue (TTM) €71.9B
Revenue growth (YoY) -6.6%
Net margin 5.3%
Return on equity 11.5%
Free cash flow −€9.5B FY2025
P/E ratio 17.5
More key figures
Operating margin 10.5%
EPS (TTM) €1.51
Dividend yield 5.1%
EPS growth (YoY) -59.4%
Net debt €43.3B FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 34/100

Of which business quality 30 · Market factors (momentum, volatility) 78

Profitability 28
Margins and returns on capital today
Quality Growth 25
Are margins and returns improving?
Cashflow 3
Earnings quality: real cash, not paper profit
Fin. Strength 18
Balance sheet, leverage, solvency risk
Investment 81
Disciplined investing over empire-building
Low Volatility 90
Calm price path (market factor)
Momentum 64
Price trend over the last 3–12 months (market factor)
52W Momentum 88
Distance to the 52-week high (market factor)
Net Issuance 54
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.

About the company

Engie SA engages in renewables and decentralized and low-carbon energy networks in France, Europe, North America, Asia, the Middle East, Oceania, South America, Africa, and internationally.

Full company description

Engie SA engages in renewables and decentralized and low-carbon energy networks in France, Europe, North America, Asia, the Middle East, Oceania, South America, Africa, and internationally. The Renewables & Flex Power segment comprises renewable energy generation activities, including financing, construction, operation, and maintenance of renewable energy, such as hydroelectric, onshore wind, photovoltaic solar, biomass, offshore wind, geothermal, and battery storage. It also offers flexible thermal generation and electricity, pumping, and battery storage facilities; solutions for decarbonizing industry with low-carbon hydrogen; and operation of desalination plants. The Networks segment comprises the gas and power infrastructure activities, including the management and development of gas and electricity transportation networks and natural gas distribution networks in and outside of Europe, natural gas underground storage, and regasification infrastructure. The Local Energy Infrastructures provides the construction and management of decentralized energy networks, including heating and cooling networks, distributed power generation plants, distributed solar power parks, low-carbon mobility, low-carbon cities and public lighting, energy efficiency, technical maintenance, and sustainable development consulting. The Supply & Energy Management segment optimizes the Group's energy assets, manages market and portfolio risks, and supplies natural gas, green and low-carbon gas, and electricity to residential, business, industrial customers, develops green energy contracts, and digital consumption management. The Other segment manages nuclear power production and holds drawing rights, focusing on operational management, safety, and decommissioning. It offers renewable electricity, green gas, energy management. The company was formerly known as GDF SUEZ S.A. and changed its name to Engie SA in April 2015. Engie SA was founded in 1880 and is based in La Garenne-Colombes, France.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Engie SA reported revenue of €71.9B in FY2025 versus €57.9B in FY2021, a compound +5.6%/yr. Reported net income was €3.8B in FY2025, compounding +1.1%/yr from FY2021.

Growth Quality 55/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€71.9B
Latest YoY
−2.5%
Avg. growth/yr (3Y)
−8.5%
Avg. growth/yr (5Y)
+10.2%
Avg. growth/yr (23Y)
+7.1%
Revenue +5.6%/yr
FY21 €57.9B
FY22 €93.9B
FY23 €82.6B
FY24 €73.8B
FY25 €71.9B
Net income +1.1%/yr
FY21 €3.7B
FY22 €140M
FY23 €2.2B
FY24 €4.1B
FY25 €3.8B

ENGI screens 11% overvalued. Compare with Iberdrola, S.A →

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Cite: Fair Value Calculator (2026). "Engie SA Fair Value". https://www.fairvalue-calculator.com/stock/ENGI

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Utilities - Diversified · 51 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.

Quality Score 34 · Bottom 25%
Fair Value upside −11% · Above median
Return on equity (TTM) 12% · Above median
Return on assets 3% · Above median
Net margin (TTM) 5% · Below median
Operating margin (TTM) 10% · Below median
Revenue growth -7% · Below median
Dividend yield (TTM) 5.1% · Top 25%
Debt / equity 1.22× · Higher than median

Valuation Multiples vs Utilities - Diversified median · lower = cheaper

P/E (TTM) 17.9× · Pricier than median
P/B 2.41× · Pricier than 75% of peers
P/S (TTM) 1.10× · Cheaper than median
EV/EBITDA 8.1× · Cheaper than median
PEG 3.42× · Pricier than 75% of peers

Snowflake

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.

VALUE 19 · sector 14
FUTURE 0 · sector 0
PAST 46 · sector 33
HEALTH 39 · sector 49
DIVIDEND 100 · sector 80

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Utilities - Diversified stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
Iberdrola, S.A IBE €21.25 €9.34 -56%
Enel SpA ENEL €10.28 €5.83 -43%
Sempra SRE $93.15 $47.77 -49%
E.ON SE EOAN €19.34 €11.71 -39%
RWE Aktiengesellschaft generates and 1RWE €56.52 €29.64 -48%
ACWA Power Company 2082 198.20 SAR 25.38 SAR -87%
Brookfield Infrastructure Partners L.P. BIPUN C$55.05 C$17.66 -68%
EnBW Energie Baden-Württemberg AG EBK €69.00 €21.11 -69%
EDP, S.A EDP €4.41 €3.81 -14%
Origin Energy Limited ORG A$10.38 A$10.36 -0%

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Frequently asked questions

Is Engie SA (ENGI) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of €23.85 versus a price of €26.72, about −11% (overvalued).
What is the fair value of ENGI?
Our model-based fair value for Engie SA is €23.85 (as of Jul 18, 2026), built from audited fundamentals. The current price is €26.72.
What is the quality score of ENGI?
Engie SA has a Quality Score of 34/100. 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 revenue of Engie SA (ENGI)?
Engie SA reported trailing-twelve-month revenue of about €71.9B (latest available figure, as of Jul 18, 2026).
What is the net profit margin of ENGI?
The net profit margin of Engie SA is about 5.3%, meaning it keeps roughly 5.3% of revenue as net income. Based on the latest reported figures.
Does Engie SA pay a dividend?
Engie SA currently shows a dividend yield of about 5.08% relative to its recent price (as of Jul 18, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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