Added to YB: 2026-02-20
Pitch date: 2026-02-17
ENG.MC [bullish]
Enagás, S.A.
-1.85%
current return
Author Info
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Company Info
Enagás, S.A. engages in the transmission, storage, and regasification of natural gas. It operates through Regulated Gas Activities, Regulated Activities – Hydrogen Infrastructure, New Businesses, and International segments.
Market Cap
EUR 3.9B
Pitch Price
EUR 15.14
Price Target
N/A
Dividend
6.61%
EV/EBITDA
10.17
P/E
11.71
EV/Sales
6.67
Sector
Gas Utilities
Category
growth
Enagás (ENG Spain): positioned for the hydrogen build‑out
ENG.MC (update): 2025 EBITDA €676m, net profit €266m; YOY decline from regulatory adjustment & Tallgrass/Soto deconsolidation (~€30m). Net debt €2.5bn at 2.1% cost, FFO €636m. Gas demand +6%, exports +17%. Key story: positioning for Spanish hydrogen backbone & H2Med corridor from 2027+ with favorable regulatory returns, maintaining dividend while pursuing growth. ~€500m operating CF ex-hydrogen provides capacity for expansion.
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