No-moat Eni reported adjusted net earnings of EUR 1.5 billion in the second quarter of 2024 compared with EUR 2 billion the year before, ahead of expectations thanks to strong production growth and better price realizations. With no changes to our estimates, we maintain our EUR 14.90 per share fair value estimate.
Eni's agressive growth in areas outside its legacy hydrocarbon business puts it in a better position than most peers for the energy transistion.
Eni’s transition to a low-carbon/renewable business could result in poor execution and capital allocation missteps, resulting in lower returns and while missing out on potentially higher oil prices.
|
Metric
|
E
|
REP
|
SHELL
|
|---|---|---|---|
Price/Earnings (Normalized) | 6.84 | 3.68 | 8.99 |
Price/Book Value | 0.86 | 0.59 | 1.24 |
Price/Sales | 0.54 | 0.21 | 0.79 |
Price/Cash Flow | 3.49 | 3.18 | 5.57 |
|
Metric
|
E
|
REP
|
SHELL
|
|---|---|---|---|
Quick Ratio | 0.90 | 0.93 | 0.99 |
Current Ratio | 1.25 | 1.40 | 1.42 |
Interest Coverage | 1.33 | — | 6.66 |
|
Metric
|
E
|
REP
|
SHELL
|
|---|---|---|---|
Return on Assets (Normalized) | 4.89% | 7.60% | 6.37% |
Return on Equity (Normalized) | 12.70% | 17.79% | 13.96% |
Return on Invested Capital (Normalized) | 8.61% | 11.93% | 9.93% |
|
1-Day Chart
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Price
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Morningstar Rating for Stocks
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Economic Moat
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Market Cap
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