E

MKT CAP:$79B

Eni S.p.A.

Market Cap

$79B

Energy·Oil & Gas Integrated·🇮🇹 Italy·NYSE

Energy·Oil & Gas Integrated·🇮🇹·NYSE

Stock Price

$53.87+$14.83 (+37.99%)

Apr 24, 2026

Company Details

Eni S.p.A. engages in the exploration, development, and production of crude oil and natural gas. It operates through Exploration & Production; Global Gas & LNG Portfolio; Refining & Marketing and Chemicals; Plenitude and Power; and Corporat...

CEO

Claudio Descalzi

IPO Date

Nov 28, 1995

Website

www.eni.com

Key Metrics TTM

Revenue

$96.7B

-25.8% YoY

Net Income

$2.9B

EPS (Diluted)

$1.71

Free Cash Flow

$5.8B

Revenue / Share

$63.60

Gross Margin

7.3%

Operating Margin

7.8%

Net Margin

3.0%

FCF Margin

6.0%

P/S

0.8x

P/E

27.3x

Earnings Reports

FY 2025

Mar 23, 2026

$92.3B-11.1%EPS $1.75

Q4 2025

Mar 23, 2026

$20.3BEPS $0.02

FY 2024

Apr 4, 2025

$103.8BEPS $1.92

Q3 2024

Sep 28, 2024

$24.2B-7.4%EPS $0.37

Q2 2024

Jun 28, 2024

$25.4BEPS $0.44

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 20	$9.5B	$775M	-$3.1B
Q3 20	$12.1B	$1.2B	$257M
Q4 20	$13.6B	$1.3B	$327M
Q1 21	$16.9B	$3.0B	$2.2B
Q3 21	$22.2B	$4.0B	$3.3B
Q4 21	$31.3B	$6.1B	$6.7B
Q1 22	$37.6B	$8.0B	$6.3B
Q2 22	$36.9B	$7.7B	$7.0B
Q3 22	$43.6B	$9.6B	$7.7B
Q1 23	$31.8B	$3.9B	$2.9B
Q3 23	$26.1B	$4.2B	$3.7B
Q4 23	$28.8B	$3.3B	$1.0B
Q1 24	$26.8B	$4.2B	$3.1B
Q2 24	$25.4B	$3.2B	$1.8B
Q3 24	$24.2B	$2.3B	$1.6B
Q4 25	$20.3B	-$2.7B	$986M

Valuation

Quarter	P/S	P/E
Q2 20	0.5x	—
Q3 20	0.5x	—
Q4 20	0.7x	—
Q1 21	0.8x	—
Q3 21	0.7x	52.8x
Q4 21	0.6x	8.9x
Q1 22	0.5x	4.8x
Q2 22	0.3x	3.0x
Q3 22	0.3x	1.9x
Q1 23	0.3x	2.7x
Q3 23	0.4x	3.1x
Q4 23	0.4x	4.4x
Q1 24	0.4x	7.6x
Q2 24	0.5x	11.0x
Q3 24	0.5x	17.8x
Q4 25	0.6x	19.8x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 20	$1.6B	$497M
Q3 20	$1.7B	$663M
Q4 20	$1.2B	-$233M
Q1 21	$1.6B	$277M
Q3 21	$3.4B	$2.0B
Q4 21	$6.8B	$4.9B
Q1 22	$3.6B	$2.0B
Q2 22	$4.9B	$2.8B
Q3 22	$6.5B	$4.1B
Q1 23	$3.5B	$1.0B
Q3 23	$4.1B	$1.9B
Q4 23	$4.9B	$1.8B
Q1 24	$2.2B	-$32M
Q2 24	$5.3B	$3.0B
Q3 24	$3.5B	$1.2B
Q4 25	$5.1B	$1.7B

Capital Expenditures

Quarter	CapEx
Q2 20	$1.1B
Q3 20	$1.0B
Q4 20	$1.4B
Q1 21	$1.3B
Q3 21	$1.4B
Q4 21	$1.9B
Q1 22	$1.6B
Q2 22	$2.1B
Q3 22	$2.5B
Q1 23	$2.5B
Q3 23	$2.2B
Q4 23	$3.1B
Q1 24	$2.3B
Q2 24	$2.4B
Q3 24	$2.3B
Q4 25	$3.3B

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 20	-55.8%	-33.1%
Q3 20	-38.1%	-31.8%
Q4 20	-28.3%	-30.8%
Q1 21	+4.5%	-15.6%
Q3 21	+133.2%	+49.7%
Q4 21	+159.2%	+108.5%
Q1 22	+176.2%	+135.9%
Q2 22	+117.7%	+102.5%
Q3 22	+96.1%	+89.1%
Q1 23	+1.6%	+17.1%
Q3 23	-30.5%	-28.3%
Q4 23	-22.0%	-7.1%
Q1 24	-38.5%	-34.0%
Q2 24	-20.1%	-18.4%
Q3 24	-7.4%	+0.5%
Q4 25	-29.4%	-30.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 20	$0	0.0%
Q3 20	$0	0.0%
Q4 20	$0	0.0%
Q1 21	$0	0.0%
Q3 21	$0	0.0%
Q4 21	$0	0.0%
Q1 22	$0	0.0%
Q2 22	$0	0.0%
Q3 22	$0	0.0%
Q1 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A
Q2 20	$823M
Q3 20	$792M
Q4 20	$753M
Q1 21	$925M
Q3 21	$732M
Q4 21	$899M
Q1 22	$927M
Q2 22	$883M
Q3 22	$760M
Q1 23	$928M
Q3 23	$775M
Q4 23	$1.1B
Q1 24	$981M
Q2 24	$961M
Q3 24	$956M
Q4 25	$925M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$15.7B	$9.2B	$25.0B
Q2 22	$12.7B	$7.4B	$20.1B
Q3 22	$13.1B	$7.7B	$20.9B
Q4 22	$12.7B	$10.3B	$23.0B
Q1 23	$11.9B	$10.5B	$22.4B
Q2 23	$14.6B	$10.6B	$25.1B
Q3 23	$11.2B	$10.5B	$21.6B
Q4 23	$13.2B	$8.8B	$21.9B
Q1 24	$10.3B	$9.4B	$19.6B
Q2 24	$11.9B	$8.5B	$20.4B
Q3 24	$11.0B	$8.8B	$19.8B
Q4 24	$9.6B	$7.9B	$17.5B
Q1 25	$10.7B	$8.9B	$19.6B
Q2 25	$10.7B	$8.7B	$19.4B
Q3 25	$10.4B	$8.6B	$19.1B
Q4 25	$9.5B	$8.2B	$17.6B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 20	1.79B	-0.1%	-0.9%
Q3 20	1.79B	+0.1%	-0.5%
Q4 20	1.79B	+0.0%	-0.1%
Q1 21	1.79B	+0.1%	+0.1%
Q3 21	1.79B	-0.1%	+0.1%
Q4 21	1.78B	-0.5%	-0.5%
Q1 22	1.77B	-0.3%	-0.8%
Q2 22	1.77B	-0.1%	-1.0%
Q3 22	1.75B	-1.4%	-2.3%
Q1 23	1.68B	-4.1%	-5.8%
Q3 23	1.65B	-1.5%	-7.0%
Q4 23	1.65B	+0.2%	-6.7%
Q1 24	1.63B	-1.3%	-6.6%
Q2 24	1.62B	-0.5%	-3.0%
Q3 24	1.61B	-0.8%	-2.3%
Q4 25	1.52B	-5.7%	-8.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 20	$297.5K	32K
Q3 20	$376.7K	32K
Q4 20	$431.8K	31K
Q1 21	$538.1K	31K
Q3 21	$706.1K	31K
Q4 21	$957.3K	33K
Q1 22	$1M	33K
Q2 22	$1M	33K
Q3 22	$1M	33K
Q1 23	$987.5K	32K
Q3 23	$810.7K	32K
Q4 23	$868.6K	33K
Q1 24	$809.1K	33K
Q2 24	$766.1K	33K
Q3 24	$728.8K	33K
Q4 25	$627.9K	32K

Revenue / Employee