Enagás ENG.MC
Enagás is the manager of the Spanish gas system, owning and operating the natural gas transport network and underground storage facilities, with a regulated business model and a growing commitment to renewable hydrogen. Enagás maintains an acceptable financial health (6.62) and an attractive dividend (6.93), but growth is very weak (1.14) with sharply declining revenues and earnings, which limits its appeal as a value stock.
Detailed metrics
Market and fundamental data as of the analysis date.
Full AI report
Generated automatically from the metrics, the macro context and the company's news.
Enagás is the manager of the Spanish gas system, owning and operating the natural gas transport network and underground storage facilities, with a regulated business model and a growing commitment to renewable hydrogen. Enagás maintains an acceptable financial health (6.62) and an attractive dividend (6.93), but growth is very weak (1.14) with sharply declining revenues and earnings, which limits its appeal as a value stock.
Score by category
| Category | Score |
|---|---|
| Financial health | 6.3 |
| Quality / Moat | 5.2 |
| Valuation | 5.7 |
| Growth | 0.6 |
| Dividend | 6.9 |
| Momentum | 7.7 |
| Risk & Context | 7.7 |
OVERALL SCORE: 6.2/10
Context and risks
The oil price surge and geopolitical tensions with Iran raise the risk premium and 10-year yields, making Enagás's debt financing more expensive (ND/EBITDA 5.27). However, as a regulated utility with inflation-linked revenues, the impact is limited and does not affect its core business model.
News considered in the analysis
- Enagás Expands Into France With Teréga Stake, Refocuses Hydrogen Strategy — La adquisición de una participación en Teréga es un movimiento estratégico material que diversifica el negocio hacia Francia y refuerza su pivote hacia el hidrógeno, aunque el impacto financiero a corto plazo es incierto.
- Enagás selects Emerson for digital management of Spain’s gas grid — Contrato de digitalización que mejora la eficiencia operativa y la calidad del servicio, con impacto positivo moderado en márgenes a largo plazo.
- Enagas SA (ENGGF) (Q2 2026) Earnings Call Highlights: Strong Financial Performance and ... — Los resultados del Q2 ya son conocidos y el mercado ha reaccionado; el titular no aporta información nueva no descontada.
- Assessing Enagás (BME:ENG) Valuation After Recent Gradual Share Price Strength — Artículo de análisis genérico sin información nueva relevante.
- Enagas SA (ENGGF) Full Year 2025 Earnings Call Highlights: Strong Financial Performance Amid ... — Resumen de resultados pasados, sin novedades materiales.
Verdict: Hold; the dividend is sustainable but negative growth and high leverage limit upside potential.
Main risk: The 36.9% drop in earnings and 5.27x EBITDA leverage, which could force a dividend cut if the regulatory framework does not compensate for inflation.
Other Utilities companies
Neighbours in the sector ranking, to compare without going back to the index.
See all 1,000+ companies in the index →