Eni (ENI.MI): analysis in plain words
Is Eni cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
Eni (ENI.MI) is listed on Borsa Italiana in Milan and we classify it in oil and gas. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against Eni according to those figures, and the questions people ask most about the stock. No buy or sell tips.
Eni (ENI.MI) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | €25.54 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 17.5x | Price over earnings per share |
| Revenue growth | +26.7% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 7.9% | Profit for every 100 of sales |
| Net debt / EBITDA | 1.3x | Years of operating profit to repay debt |
| Dividend yield | 4.15% | Annual dividend over price |
| Market cap | €72.8 billion | What the stock market values it at |
The Eni figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any ENI.MI figure that is not available shows as N/A: we do not estimate it.
How Eni makes money
Eni is an Italian energy company whose oil and gas Exploration & Production business generates most of its profit. It also reports Global Gas & LNG Portfolio, Refining and Chemicals (Versalis), Enilive (biofuels and fuel stations) and Plenitude (renewables plus power and gas sales to households). It produces in Africa, Europe and Asia.
Over the last 12 months, Eni brought in revenue of €97.3 billion. For every 100 it sells, Eni keeps 21.9 after the direct cost of what it sells (gross margin) and 8.6 after all operating costs (operating margin). With 32,349 full-time employees, that is about €3 million of revenue per employee.
Eni against its sector
To know whether a Eni figure is high or low you have to put it next to similar companies. This table compares Eni with the median of the 14 oil and gas companies Fintols covers, with data as of November 4, 2026.
| Figure | Eni | oil and gas median |
|---|---|---|
| P/E | 17.5x | 16.1x (14) |
| Revenue growth | +26.7% | +38.3% (14) |
| Net margin | 7.9% | 10.5% (14) |
| Dividend yield | 4.15% | 2.52% (14) |
| Net debt / EBITDA | 1.3x | 0.6x (13) |
In short, against the typical oil and gas company, Eni grows more slowly, earns a thinner margin and pays a higher dividend yield. By size, Eni ranks number 2 of 3 oil and gas companies quoted in EUR on Fintols.
The bull case for Eni
What works in favour of Eni, according to its figures as of November 4, 2026:
- Analysts expect Eni earnings to rise: its P/E on the next 12 months of estimated earnings is 9.4x, below the current 17.5x.
- Eni generates real cash: €5.8 billion of free cash flow over 12 months, 8.0% of its stock market value.
- For income seekers, Eni pays a dividend yielding 4.15% at today's price, using 46% of its profit to fund it.
The main risk for Eni
The Eni figures as of November 4, 2026 show no clear red flag (no heavy debt, no losses, no falling sales). Its main risk is the one built into its business: oil and gas prices, which it does not control and which swing its profit year to year, plus the energy transition.
Frequently asked questions about Eni
Is it a good time to buy Eni stock?
Fintols does not tell you whether to buy or sell Eni, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, Eni stock trades at €25.54, 8% below its 52-week high (€27.76) and 64% above its low (€15.55). Its P/E is 17.5x against a oil and gas median of 16.1x, and 9.4x on the earnings analysts expect over the next 12 months. With Eni, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does Eni pay a dividend?
Yes. As of November 4, 2026, Eni pays €1.08 per share a year, which at today's price is a yield of 4.15%. It uses 46% of its profit to pay it, which leaves room to keep paying it if profit dips. Its average dividend yield over the last five years is 6.00%. The oil and gas median on Fintols is 2.52%.
Is Eni stock expensive?
It depends on what you compare it with. On P/E, Eni trades at 17.5x its last 12 months of earnings: in line with the oil and gas median (16.1x). Including its debt, Eni is valued at 6.7x its EBITDA (EV/EBITDA). A high P/E alone does not make Eni expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are Eni's competitors?
On Fintols we compare Eni with TotalEnergies, Valero and Kinder Morgan, which are also in oil and gas. As of November 4, 2026, TotalEnergies is worth €179.3 billion and trades on a P/E of 9.5; Valero is worth $101.9 billion and trades on a P/E of 8.3; Kinder Morgan is worth $70.2 billion and trades on a P/E of 19.5. Each has a side-by-side comparison with Eni below.
Eni competitors
- TotalEnergies (TTE.PA) analysis · Eni vs TotalEnergies comparison
- Valero (VLO) analysis · Eni vs Valero comparison
- Kinder Morgan (KMI) analysis · Eni vs Kinder Morgan comparison
To understand Eni better
- Dividend Growth Investing: FCF Payout Ratio and Compounding
- P/E Ratio and EPS Explained: How to Read Them Without Traps
More companies like Eni: oil and gas stocks and Euro Stoxx 50 companies. Open the full ENI.MI analysis with its valuation and scenarios. Educational content about Eni, not investment advice.