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Energean Oil & Gas PLC (ENOG) Fair Value & Analysis

Energy · GB · Market cap 1.4B GBX

EO Energean Oil & Gas PLC ENOG · LSE
Price£7.81
Fair Value£8.74
Upside+12.0%
Quality41/100
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Strengths

Trades 12% below our fair value of £8.74

Risks

!Mixed Growth
!Loss-making · -14.9% net margin
!High debt · generates free cash flow
!Trails peers (5/13)
Mixed Growth
Loss-making · -14.9% net margin
High debt · generates free cash flow
0.16% dividend yield
Trails peers (5/13)
Narrow moat 17/100
Evidence: High Range £2.09 – £15.39 Share as image

Fair value as of: Aug 20, 2026

From 12 valuation models · updated yesterday

Fair value updated Aug 20, 2026, revised from £18.32 to £8.74 (−52.3%) since Aug 13, 2026. Share price +0.3% over the past month.

Below-average quality, screening 12% undervalued on our models.

What matters now

  • The model range is unusually wide (£2.09 to £15.39). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Our model range runs from £2.09 (bear) to £15.39 (bull), base £8.74. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 41/100 (below-average quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

£11.36 £4.42 Fair Value £8.74 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 20, 2026.

How to read this chart

60‑month range £4.42 – £11.36 · fair‑value band £2.09 – £15.39 · the £7.81 price screens below the £8.74 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 20, 2026.

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Analysis

Energean Oil & Gas PLC (ENOG) currently trades at £7.81, while our model-based Fair Value estimate is £8.74, implying the stock looks roughly 12.0% undervalued today. The Quality Score stands at 41/100 (below-average quality), in the Energy sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Energean Oil & Gas PLC generated revenue of £1.7B at a net margin of -14.9%. Revenue grew 1.3% year over year. It earns a return on equity of -71.6%. Net debt stands at £3.3B. Fundamentals as of Aug 20, 2026

Our scenario range runs from £2.09 (bear case) to £15.39 (bull case); at £7.81, 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. For context, the median of 10 Energy peers we cover trades at -33% fair-value upside, at 12%, ENOG 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 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. Evidence
Highest evidence
Growth DCF £5.14 £18.63 80
Rev-Margin DCF £3.90 £21.01 74
Gordon GGM £9.48 £17.09 £23.52 70
All 12 models by family
DCF Models
FCF DCF £3.13 £20.42 38
5Y Revenue Exit £1.50 £15.60 39
5Y EBITDA Exit £7.54 £27.36 £66.29 41
10Y Revenue Exit £6.58 £13.31 36
10Y EBITDA Exit £4.21 £31.72 £80.87 37
Dividend Discount
Gordon GGM £9.48 £17.09 £23.52 70
DDM Multi-Stage £9.48 £15.61 £18.25 61
Multiples
EV/EBIT £4.47 £11.04 £17.60 53
EV/EBITDA £11.90 £20.95 £29.99 54
Asset-Based
NCAV (Graham) £0.3800 £0.5100 £0.7700 50
Growth DCF
Growth DCF £5.14 £18.63 80
Rev-Margin DCF £3.90 £21.01 74

Widest divergence: Dividend Discount (£15.61) versus Asset-Based (£0.5100). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) 1.7B GBX
Revenue growth (YoY) +1.3%
Net margin -14.9%
Return on equity -71.6%
Free cash flow 171M GBX FY2025
Operating margin -10.0%
More key figures
EPS (TTM) £-1.22
Dividend yield 0.2%
EPS growth (YoY) +22.9%
Net debt 3.3B GBX FY2025

Figures from reported company fundamentals · as of Aug 20, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 41/100

Of which business quality 39 · Market factors (momentum, volatility) 46

Profitability 7
Margins and returns on capital today
Quality Growth 59
Are margins and returns improving?
Cashflow 50
Earnings quality: real cash, not paper profit
Fin. Strength 7
Balance sheet, leverage, solvency risk
Investment 67
Disciplined investing over empire-building
Low Volatility 83
Calm price path (market factor)
Momentum 32
Price trend over the last 3–12 months (market factor)
52W Momentum 29
Distance to the 52-week high (market factor)
Net Issuance 80
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

Energean plc engages in the exploration, production, and development of oil and gas. The company operates through Europe, Israel, and New Ventures segments. Its flagship project is the 100% owned Karish and Karish North projects located in Israel. It also offers financing services; carbon capture storage; and holds a gas transportation license.

Full company description

Energean plc engages in the exploration, production, and development of oil and gas. The company operates through Europe, Israel, and New Ventures segments. Its flagship project is the 100% owned Karish and Karish North projects located in Israel. It also offers financing services; carbon capture storage; and holds a gas transportation license. The company was formerly known as Energean Oil & Gas plc and changed its name to Energean plc in May 2020. Energean plc was founded in 2007 and is based in London, the United Kingdom.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Energean Oil & Gas PLC reported revenue of £1.8B in FY2025 versus £497M in FY2021, a compound +37.3%/yr. Reported net income was −£263M in FY2025.

Growth Quality 53/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
£1.8B
Latest YoY
+34.2%
Avg. 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.
+33.8%
Avg. growth/yr (11Y) 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.
+40.4%
Revenue +37.3%/yr
FY21 £497M
FY22 £737M
FY23 £1.4B
FY24 £1.3B
FY25 £1.8B
Net income
FY21 −£96.0M
FY22 £17.3M
FY23 £185M
FY24 £188M
FY25 −£263M

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Cite: Fair Value Calculator (2026). "Energean Oil & Gas PLC Fair Value". https://www.fairvalue-calculator.com/stock/ENOG

Peer Group

Oil & Gas E&P · 328 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 41 · Below median
Fair Value upside +12% · Top 25%
Return on assets 2% · Above median
Net margin (TTM) -15% · Bottom 25%
Operating margin (TTM) -10% · Bottom 25%
Revenue growth 1% · Above median
Dividend yield (TTM) 0.2% · Bottom 25%
Debt / equity 22.18× · Higher than 75% of peers

Valuation Multiples vs Oil & Gas E&P median · lower = cheaper

P/B 13.33× · Pricier than 75% of peers
P/S (TTM) 1.09× · Cheaper than median
P/FCF 11.1× · Pricier than median
EV/EBITDA 4.2× · Cheaper than median

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.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE49 · sector 13
FUTURE7 · sector 0
PAST0 · sector 0
HEALTH0 · sector 88
DIVIDEND3 · sector 57

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Oil & gas

Similar stocks

10 more Oil & Gas E&P stocks, each showing price versus our Fair Value estimate (as of Aug 20, 2026).

Stock Price Fair Value vs Fair Value
CNOOC Limited 600938 ¥32.85 ¥32.55 -1%
ConocoPhillips explores for, COP $126.78 $90.15 -29%
Canadian Natural Resources Limited CNQ C$66.38 C$44.23 -33%
EOG Resources, Inc EOG $143.14 $130.19 -9%
Occidental Petroleum Corporation OXY $58.55 $30.06 -49%
Diamondback Energy, Inc FANG $210.02 $105.24 -50%
Devon Energy Corporation DVN $44.86 $27.06 -40%
Woodside Energy Group WDS A$32.55 A$20.71 -36%
EQT Corporation EQT $54.06 $42.85 -21%
Texas Pacific Land Corporation TPL $342.77 $77.26 -77%

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Frequently asked questions

Is Energean Oil & Gas PLC (ENOG) overvalued or undervalued?
As of Aug 20, 2026, our model estimates a fair value of £8.74 versus a price of £7.81, about +12% (undervalued).
What is the fair value of ENOG?
Our model-based fair value for Energean Oil & Gas PLC is £8.74 (as of Aug 20, 2026), built from audited fundamentals. The current price: £7.81.
What is the quality score of ENOG?
Energean Oil & Gas PLC has a Quality Score of 41/100. 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 Energean Oil & Gas PLC (ENOG)?
Energean Oil & Gas PLC reported trailing-twelve-month revenue of about £1.7B (latest available figure, as of Aug 20, 2026).
What is the net profit margin of ENOG?
The net profit margin of Energean Oil & Gas PLC is about -14.9%, meaning it is currently running at a net loss. Based on the latest reported figures.
Does Energean Oil & Gas PLC pay a dividend?
Energean Oil & Gas PLC currently shows a dividend yield of about 0.15% relative to its recent price (as of Aug 20, 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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