Equity Brief · Utilities2026-10-27
ENG.MC·Utilities

Last results 20 Oct 2026

Enagás, S.A.

I · AI Analysis

The brief

Enagás operates Spain's regulated natural gas infrastructure, including transmission pipelines, liquefied natural gas (LNG) regasification terminals, and underground storage facilities [Yahoo Finance]. The company is also expanding into hydrogen infrastructure and newer energy areas such as biomethane and carbon capture [Yahoo Finance].

Enagás is Spain's primary natural gas transmission and storage company, operating pipelines, regasification plants and underground storage facilities [Yahoo Finance]. The company recently reported trailing-twelve-month revenue of EUR 930.4M through 30 September 2026, though latest-quarter revenue fell 9.1% year-over-year [Yahoo Finance]. Recent news coverage highlights market confidence in the company's dividend sustainability [Expansión], but also notes regulatory debates around a potential future merger with Spain's electrical grid operator [ABC].

Enagás shows stable profitability but carries elevated debt and faces near-term earnings pressure from margin compression.

The brief AI analysisConfidence 6/10

Sentinellis health

Moderate concerns

4.7/10

7.5+ strong · 4.5–7.5 moderate · under 4.5 weak

Profitability

16% of score10.0/10
Net margin+30.1%Gross margin+93.6%

Returns on capital

16% of score0.0/10
ROIC+5.2%· need > 10%Return on equity+11.8%· need > 12%

Growth & momentum

21% of score0.0/10
Revenue growth-9.1%· need ≥ 2.1%, the lower third of utilities in our libraryOperating margin trend-8.7pp YoY· need not down > 3pp YoY

Balance sheet

21% of score5.0/10
Current ratio0.8x· not applicable to this kind of companyNet debt / EBITDA6.2x· need < 4.0xInterest coverage4.4xDebt / equity1.32

Cash generation

16% of score6.7/10
Free cash flowEUR 94.4MCash vs reported profitEUR 212.5M vs EUR 339.1M· need OCF > net income

Value creation

11% of score10.0/10
ROIC vs cost of capital+1.3pp

Sentinellis calculation from the published statements — not a score reported by any data source. Each category is scored on the checks that had data; missing inputs are excluded rather than counted as failures.

Market capitalisation

EUR 4.6B

Revenue (TTM)

EUR 930.4M

Explainers

How we read these numbers

Plain-English guides · no account needed

II · Recent news

What moved

3 stories · ranked by relevance

  • Company2026-10-26

    Los afectados por el hidroducto de Enagás pueden alegar hasta el 16 de noviembre - BilbaoHiria

    BilbaoHiria

  • Company2026-10-26

    Un Gobierno PP-Vox reformará en su totalidad la Red Eléctrica 'intervenida' que acabará en fusión con Enagás - ABC

    ABC

  • Company2026-10-22

    El dividendo sostenible de Enagás convence en Bolsa - Expansión

    Expansión

Premium · Free with any account

Operating margin compressed sharply in the latest quarter, falling 8.7 percentage points to 11.4% from 20.1% a year earlier, even as revenue declined 9.1% [Yahoo Finance]. This suggests rising costs or lower utilization are eroding profitability faster than revenue is shrinking.

1 of 4 risks in this report

Risks

4

Opportunities

4

Red flags

4

Leadership

6

11 more findings in the full report — free with any account.

Unlock the full Enagás, S.A. analysis

Create a free account to access the complete AI-generated report with inline citations.

  • 4 risks, 4 opportunities and 4 red flags — each with its source
  • 100+ financial metrics with charts and benchmarks
  • Full news summaries with source links
  • Executive team and compensation details
  • PDF export for offline use
Unlock all 12 findings3 free reports · No credit card

III · Related

You might also read

Same sector · Utilities — or comparable health

Want this for your watchlist?

Read three companies free. No card.

Get 3 free reports

Produced 27 Oct 2026, 10:27 UTC

Figures come from company filings and market data. The Sentinellis health score and the wording attached to it are our interpretation of those figures, not numbers the company reported.

Not investment advice and not a recommendation to buy or sell. Sentinellis holds no positions in the companies it covers, takes no payment from issuers, and has no broker referral arrangements.

How every figure and score is calculated