ENI.MI · MIL FTSE MIB Euro Stoxx 50

Eni S.p.A.

Energy · Integrated oil and gas

€25.23 +€0.48 (+1.94%) today

Closing price on Nov 11, 2026 · Source: Yahoo Finance

Consensus of 22 analysts

Hold

Median price target €27.50 +9.0%

Open: €24.80
Day range: 24.75 – €25.24
52-week range: 15.55 – €27.76
Volume: 2,990,615
Market cap: €71,851M
P/E (TTM): 17.3x
EPS (TTM): €1.46
EPS est. 2026: €3.05
P/E est. 2026: 8.3x
Dividend yield: 1.1%
Beta: 0.21
Payout: 46%

Analyst summary

Generated with AI · Nov 11, 2026, 14:31

Eni is an integrated energy group spanning oil and gas, refining and chemicals, gas and LNG, power, biofuels and renewable energy. Q3 2026 revenue rose 39.4% year on year to €25,645M, while net income increased to €3,205M and the net margin reached 12.5%. Analysts’ median target of €27.50 implies 9.0% potential upside from the quoted price, but the consensus remains Hold and earnings are forecast to moderate in 2027.

1Q3 2026 revenue rose 39.4% year on year to €25,645M.
2Q3 2026 net income was €3,205M, with a 12.5% net margin.
3Analysts’ €27.50 median target implies +9.0% potential upside; consensus is Hold.

Eni financials

Q3 2026 results, quarter ended Sep 30, 2026

Metric	Q3 2026	1-year change
Total revenue	€25,645M	+39.4%
Net income	€3,205M	+299.1%
Earnings per share	€1.07	+279.4%
Net margin	12.5%	+8.1 pp
Free cash flow	€2,598M	+188.7%
Debt / equity	0.73	+3.9%

Revenue and net income (€M)

Total revenueNet income

Quarter	Total revenue	Net income
Q2 2025	€16,894M	€543M
Q3 2025	€18,400M	€803M
Q4 2025	€20,615M	€90M
Q1 2026	€19,742M	€1,071M
Q3 2026	€25,645M	€3,205M

Q3 2026 revenue of €25,645M was up 39.4% year on year, and net income rose 299.1% to €3,205M. The net margin expanded by 8.1 pp to 12.5%, while free cash flow increased 188.7% to €2,598M. The quarterly series shows revenue rising from €18,400M in Q3 2025 to €25,645M in Q3 2026, although earnings have varied substantially between periods.

In the quarterly EPS series, Q3 2026 EPS of €0.949 beat the €0.831 estimate by 14.2%, following an 8.6% beat in Q2; Q1 EPS missed by 12.5%. Consensus forecasts EPS of €3.047 for 2026, up 290.6%, then €2.794 for 2027, down 8.3%. The quoted trailing P/E is 17.3x, against forward multiples of 8.3x and 9.0x. Debt/equity is 0.73, up 3.9% year on year.

Written by AI · Nov 11, 2026, 14:31

Eni earnings per share (EPS)

Consensus estimates

Period	EPS est.	1-year change
Current quarterQ4 2026 · Analysts: 4	€0.8400.76 – 0.94	+113.4%€0.393
Next quarterQ1 2027 · Analysts: 1	€0.6450.65 – 0.65	+49.1%€0.433
Current year2026 · Analysts: 20	€3.0472.67 – 3.42	+94.2%€1.569
Next year2027 · Analysts: 20	€2.7942.34 – 3.58	−8.3%€3.047

Forward P/E: 8.3x (2026) and 9.0x (2027) at the current price.

Actual and estimated EPS (€)

Actual EPSEstimated EPS

Quarter	Actual EPS	Estimated EPS
Q2 2025	€0.160	—
Q3 2025	€0.282	—
Q4 2025	€0.393	€0.320
Q1 2026	€0.433	€0.495
Q2 2026	€0.778	€0.716
Q3 2026	€0.949	€0.831
Q4 2026	—	€0.840
Q1 2027	—	€0.645

Year	Actual EPS	Estimated EPS
2022	€3.950	—
2023	€1.400	—
2024	€0.780	—
2025	€0.780	—
2026	—	€3.047
2027	—	€2.794

EPS trend

Quarter	EPS	YoY change
Q1 2027Estimated	€0.645	+49.1%
Q4 2026Estimated	€0.840	+113.4%
Q3 2026	€0.949est. €0.831 · surprise +14.2%	+236.5%
Q2 2026	€0.778est. €0.716 · surprise +8.6%	+386.0%
Q1 2026	€0.433est. €0.495 · surprise −12.5%	n/a
Q4 2025	€0.393est. €0.320 · surprise +22.8%	n/a
Q3 2025	€0.282	n/a
Q2 2025	€0.160	n/a

Year	EPS	Annual change
2027Estimated	€2.794	−8.3%
2026Estimated	€3.047	+290.6%
2025	€0.780	0.0%
2024	€0.780	−44.3%
2023	€1.400	−64.6%
2022	€3.950	n/a

Normalised EPS according to the analyst consensus collected by Yahoo Finance; it may differ from the reported EPS in the results table.

Eni dividend

Yield and payments

Dividend yield (TTM)	1.1%
Forward yield (next 12m)	4.3%
Dividend per share (TTM)	€0.27
Forward dividend (next 12m)	€1.08
Payout (TTM)	46%
Last dividend	€0.27Sep 21, 2026
Next ex-dividend date	Nov 23, 2026

Dividend per share by year (€)

PaidEstimated

Year	Dividend per share
2019	€0.84
2020	€0.55
2021	€0.67
2022	€0.87
2023	€0.91
2024	€0.97
2025	€1.02
est. 12m	€1.08

The trailing dividend yield is 1.1%, based on €0.27 per share over 12 months, while the estimated forward yield is 4.3% on an expected €1.08 per share. The payout ratio is 46%. The latest listed dividend was €0.27, with an ex-date of Sep 21, 2026; the next ex-date is Nov 23, 2026.

The annual dividend record shows a rise from €0.55 in 2020 to €1.02 in 2025, with €1.08 estimated for the next 12 months. This suggests a recovery in distributions over the years shown, though the trailing and forward yields differ notably. The forward figure depends on the estimated dividend being delivered.

Written by AI · Nov 11, 2026, 14:31

Eni forecasts

22 analyst ratings

Buy41% Hold50% Sell9%

Consensus: Hold · 9 buy, 11 hold, 2 sell

1-year price forecast

Share price Price target (high, median, low)

12-month price targets
Target	Price	Upside
High	€32.80	+30.0%
Median	€27.50	+9.0%
Low	€21.80	−13.6%

Monthly close (last 12 months)
Date	Close
Nov 28, 2025	€16.13
Dec 30, 2025	€16.14
Jan 30, 2026	€17.23
Feb 27, 2026	€19.66
Mar 31, 2026	€24.85
Apr 30, 2026	€24.00
May 29, 2026	€22.53
Jun 30, 2026	€20.62
Jul 31, 2026	€23.98
Aug 31, 2026	€23.31
Sep 30, 2026	€24.02
Oct 30, 2026	€27.14
Nov 11, 2026	€25.23

Analyst opinion is cautious-to-neutral: of 22 analysts, 9 (41%) rate the shares Buy, 11 (50%) Hold and 2 (9%) Sell, leaving the consensus at Hold. The median price target is €27.50, representing +9.0% potential upside from the quoted price.

Targets span €21.80 (−13.6%) to €32.80 (+30.0%), a broad range that indicates differing views on the outlook. Earnings forecasts point to a strong 2026 rebound, with EPS of €3.047, but a decline to €2.794 is expected in 2027. The estimates therefore imply that investors’ assessment will depend on the durability of the recent earnings strength.

Written by AI · Nov 11, 2026, 14:31

Eni peers

Ticker	Company	Market cap (€M)	P/E	Price (€)	1-day change	52-week range
ENI.MI	Eni	71,851	17.3x	25.23	+1.94%	15.5527.76
TTE.PA	TotalEnergies	174,329	9.2x	79.49	+1.65%	53.2985.94
REP.MC	Repsol	31,339	5.1x	29.35	+2.30%	15.2131.64
XOM	ExxonMobil	670,910	16.9x	164.47 $	−0.16%	114.19188.50
CVX	Chevron	412,144	15.5x	211.22 $	+0.21%	146.49236.48
TEN.MI	Tenaris	27,705	16.6x	27.44	+1.18%	16.1027.82

Stocks quoted in another currency are shown in their trading currency.

Eni’s €71,851M market capitalisation places it below TotalEnergies at €174,329M, but above Repsol at €31,339M and Tenaris at €27,705M. Its trailing P/E of 17.3x is higher than TotalEnergies’ 9.2x and Repsol’s 5.1x, and slightly above Tenaris’ 16.6x.

The US-listed peers ExxonMobil and Chevron have P/Es of 16.9x and 15.5x respectively; their market capitalisations are reported in dollars, so they are not directly comparable with Eni’s euro figure. Eni’s quoted multiple is therefore relatively high against the European integrated peers listed here.

Written by AI · Nov 11, 2026, 14:31

Risks, catalysts and conclusion

Generated with AI · Nov 11, 2026, 14:31

Risks

A downturn in oil and gas prices could weaken earnings after the forecast 2026 rebound.
Volatile refining and chemicals conditions could pressure margins across Eni’s integrated operations.
If earnings fall as forecast in 2027, the current 17.3x trailing P/E may become harder to support.

Catalysts

Sustained strength in exploration and production could support earnings and cash generation.
Improved performance in gas and LNG activities could reinforce results across the integrated portfolio.
Growth in biofuels and renewable energy activities could broaden contributions beyond conventional hydrocarbons.

Conclusion

Eni’s latest quarter shows sharply higher revenue, profit and free cash flow, and quarterly EPS has recently exceeded estimates. However, the annual earnings profile remains uneven: consensus expects a strong 2026 followed by a modest decline in 2027. The Hold rating and 9.0% median-target upside suggest measured expectations, while the elevated trailing P/E relative to European peers makes sustained earnings delivery important.

Analysis written automatically by AI from Yahoo Finance market data on Nov 11, 2026, 14:31.

This content is for information only and is not financial advice or a recommendation to buy or sell securities. Ratings and price targets come from third-party analysts. Investing in the stock market involves the risk of losing capital.

Eni S.p.A.

Analyst summary

Eni financials

Q3 2026 results, quarter ended Sep 30, 2026

Revenue and net income (€M)

Eni earnings per share (EPS)

Consensus estimates

Actual and estimated EPS (€)

EPS trend

Eni dividend

Yield and payments

Dividend per share by year (€)

Eni forecasts

22 analyst ratings

1-year price forecast

Eni peers

Risks, catalysts and conclusion

Risks

Catalysts

Conclusion

What the AI agents think about Eni

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