Engie S.A. (ENGI.PA) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-195.7%

-€22.46

vs €23.46 price

Levered DCF

-€10.69

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

0.75

Distress zone

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	14.74×	9.22×	18.13×	231.26×	8.91×	-17.63×	42.35×	-191.3×
P/B	1.71×	1.07×	1.45×	1.05×	0.95×	1.21×	1.19×	0.84×
P/S	0.78×	0.5×	0.47×	0.35×	0.54×	0.68×	0.58×	0.53×
EV / EBITDA	7.07×	5.18×	4.33×	15.55×	5.83×	10.78×	8.19×	6.47×
Gross margin	12.3%	33.0%	31.0%	6.5%	10.9%	8.4%	6.4%	33.6%
Operating margin	11.8%	12.2%	7.4%	2.9%	9.5%	7.6%	7.0%	7.8%
Net margin	5.3%	5.6%	2.7%	0.1%	6.3%	-3.9%	1.6%	-0.3%
Current ratio	1.08×	1.09×	0.99×	1.11×	1.14×	1.11×	1.05×	1.07×
Debt / equity	1.66×	1.51×	1.77×	1.43×	1.35×	1.67×	1.46×	1.01×
Interest coverage	4.49×	3.3×	2.46×	1.64×	4.89×	2.75×	3.27×	4.08×
Dividend yield	8.0%	11.2%	10.5%	8.2%	5.9%	2.1%	6.8%	8.9%
Payout ratio	118.3%	101.0%	184.2%	1903.6%	50.8%	-36.0%	241.1%	-1693.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	11.6%	11.9%	8.3%	0.5%	11.0%	-6.9%	3.4%	-0.4%
Return on invested capital	5.0%	5.0%	3.5%	1.7%	2.4%	3.2%	2.5%	2.1%
Return on assets	2.3%	2.2%	1.1%	0.1%	1.6%	-1.1%	0.6%	-0.1%
Free cash flow yield	-16.8%	10.1%	15.0%	4.8%	2.4%	7.0%	3.0%	5.6%
Earnings yield	6.8%	11.1%	5.7%	0.4%	11.6%	-5.7%	2.8%	-0.5%
Enterprise value	€96.5B	€72.2B	€69.3B	€60.8B	€62.4B	€59.1B	€66.7B	€57.3B
Net debt / EBITDA	2.94×	2.52×	1.92×	7.27×	2.89×	5.26×	3.92×	3.08×
Cash conversion cycle (days)	46	86	72	105	154	136	97	3