E 
Enel SpA ENEL.MI · EUR
Utilities · Electric Utilities · Borsa Italiana · 🇮🇹 Italy
Euro Stoxx 50
9.86
+1.75%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€67.45bn
FY2016FY2025
Net income
€4.22bn
FY2016FY2025
Free cash flow
€4.29bn
FY2016FY2025
Shareholders' equity
€32.07bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €67.45bn | €70.65bn | €91.37bn | €142.42bn | €96.55bn | €64.23bn | €73.82bn | €74.57bn | €73.43bn | €69.40bn |
| Research and development | — | — | — | €105.0m | €131.0m | €111.0m | — | — | — | — |
| Operating income | €11.34bn | €15.19bn | €17.11bn | €13.41bn | €17.09bn | €11.76bn | €7.19bn | €9.90bn | €9.79bn | €8.92bn |
| Net income | €4.22bn | €7.02bn | €3.79bn | €5.22bn | €3.19bn | €3.62bn | €3.48bn | €4.79bn | €3.78bn | €2.57bn |
| Diluted earnings per share | 0.42 | 0.69 | 0.37 | 0.51 | 0.33 | 0.37 | 0.33 | 0.49 | 0.36 | 0.27 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €178.66bn | €187.14bn | €195.22bn | €219.62bn | €206.94bn | €163.45bn | €171.43bn | €165.42bn | €155.64bn | €155.60bn |
| Cash and short-term investments | — | — | €6.88bn | €24.79bn | €11.02bn | €6.37bn | €9.60bn | €7.71bn | €7.83bn | €8.42bn |
| Total liabilities | €131.85bn | €137.97bn | €156.67bn | €177.54bn | €164.60bn | €121.10bn | €124.49bn | €117.57bn | €103.48bn | €103.02bn |
| Debt | €54.46bn | €71.08bn | €74.94bn | €89.42bn | €71.84bn | €59.03bn | €61.50bn | €55.97bn | €51.33bn | €51.09bn |
| Shareholders' equity | €32.07bn | €33.73bn | €25.20bn | €28.66bn | €29.65bn | €28.32bn | €30.38bn | €31.72bn | €34.80bn | €34.80bn |
| Shares outstanding | 10,033m | 10,155m | 10,157m | 10,160m | 9,800m | 9,800m | 10,392m | 9,850m | 10,627m | 9,350m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €13.93bn | €13.22bn | €14.62bn | €8.67bn | €10.07bn | €11.51bn | €11.25bn | €11.07bn | €10.13bn | €9.85bn |
| Capital spending | −€9.63bn | −€10.17bn | −€12.77bn | −€13.24bn | −€12.20bn | −€9.55bn | −€9.26bn | −€8.26bn | −€8.50bn | −€8.84bn |
| Free cash flow | €4.29bn | €3.06bn | €1.85bn | −€4.57bn | −€2.13bn | €1.96bn | €1.99bn | €2.82bn | €1.63bn | €1.00bn |
| Dividends paid | −€5.79bn | −€5.13bn | −€5.32bn | −€4.90bn | −€4.97bn | −€4.74bn | −€3.96bn | −€3.44bn | −€2.87bn | −€2.51bn |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €17.05bn | €18.58bn | €16.14bn | €16.15bn | €13.09bn | €19.05bn | €16.24bn | €17.92bn |
| Operating income | €1.17bn | €1.98bn | €1.40bn | €348.0m | −€1.77bn | €566.0m | €670.0m | €2.15bn |
| Net income | €1.88bn | €1.86bn | −€1.01bn | €1.81bn | €1.42bn | €2.01bn | €1.15bn | €1.73bn |
| Diluted earnings per share | 0.19 | 0.19 | -0.10 | 0.18 | 0.14 | 0.20 | 0.11 | 0.17 |
| Cash from operations | €534.0m | €3.72bn | €4.83bn | €4.25bn | €1.40bn | €3.44bn | €4.83bn | €3.24bn |
| Capital spending | −€2.30bn | −€2.31bn | −€2.79bn | −€2.71bn | −€2.05bn | −€2.08bn | −€2.38bn | −€2.72bn |
| Free cash flow | −€1.76bn | €1.41bn | €2.04bn | €1.54bn | −€654.0m | €1.37bn | €2.45bn | €523.0m |
| Total assets | €189.15bn | €190.50bn | €178.66bn | €181.34bn | €179.44bn | €185.19bn | €187.14bn | €187.94bn |
| Debt | €54.04bn | €58.34bn | €54.46bn | €58.45bn | €54.22bn | €58.16bn | €57.39bn | €61.36bn |
| Shareholders' equity | €34.88bn | €35.39bn | €32.07bn | €35.29bn | €34.46bn | €37.11bn | €33.73bn | €35.04bn |
Financial ratios
Data as of 9 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Operating margin | 16.8% | 21.5% | 18.7% | 9.4% | 17.7% | 18.3% | — | — |
| Net margin | 6.3% | 9.9% | 4.1% | 3.7% | 3.3% | 5.6% | — | — |
| Return on equity | 13.2% | 20.8% | 15.0% | 18.2% | 10.8% | 12.8% | — | — |
| Return on assets | 2.4% | 3.7% | 1.9% | 2.4% | 1.5% | 2.2% | — | — |
| Free cash flow yield | — | — | 30.4% | 24.3% | 25.6% | 24.2% | 22.2% | 22.1% |
| Revenue growth | -4.5% | -22.7% | -35.8% | 47.5% | 50.3% | -13.0% | — | — |
| Earnings growth | -39.8% | 85.2% | -27.4% | 63.6% | -12.0% | 4.2% | — | — |
| Current ratio | 0.73x | 0.83x | 0.79x | 0.95x | 0.87x | 0.83x | — | — |
| Debt to equity | 1.70x | 1.70x | 2.87x | 2.98x | 2.31x | 2.01x | — | — |
| Equity ratio | 17.9% | 18.0% | 12.9% | 13.0% | 14.3% | 17.3% | — | — |
| Interest coverage | 3.98x | 4.40x | 2.87x | 5.10x | 7.23x | 5.05x | — | — |
| R&D as a share of sales | — | — | — | 0.1% | 0.1% | 0.2% | — | — |
| Buybacks as a share of market value | — | — | 0.0% | -3.7% | 0.0% | 5.7% | -5.5% | 7.3% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -22.1% | 1.0% | -0.8% |
| Operating income | -5.4% | -0.7% | 4.0% |
| Net income | -6.8% | 3.1% | 6.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 19.2% | 15.3% | 16.1% | 14.4% |
| Net margin | 8.1% | 5.4% | 5.1% | 4.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 21.1 | 10.0 | 18.1 | 9.8 | 21.6 | 22.4 | 21.1 | 10.4 | 14.4 | 15.2 |
| Price to sales | 1.3 | 1.0 | 0.8 | 0.4 | 0.7 | 1.3 | 1.0 | 0.7 | 0.7 | 0.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 26 years. Last went ex-dividend on 20 Jul 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.26 | 0.485 | 0.65 | 0.415 | 0.39 | 0.19 | 0.358 | 0.328 |
- 2-to-1 reverse split · 9 Jul 2001
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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