Naturgy Energy Group, S.A.
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+ FollowMarket Cap$31.93B
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Earnings Call Q3 2026
October 28, 2026 - AI Summary
Strong 9M 2026 performance; balance sheet stable (supports another guidance raise)
- EBITDA: €4.3bn (+4% YoY)
- Net income: ~€1.8bn (+5% YoY)
- Cash generation: Funds from operations €3.6bn (+8% YoY); working capital absorbed ~€1bn due to higher gas prices and a one-off Sonatrach payment
- Net debt: ~€12.3bn, essentially flat vs. year-end 2025
- Balance-sheet strength: 60% of debt fixed-rate, average cost of debt ~4%, liquidity >€10bn (net debt/EBITDA ~2.2x, S&P FFO definition improved to 29%)
Guidance upgraded again for 2026 (with clear numbers)
- EBITDA forecast (2026): now >€5.6bn *(vs. ~€5.3bn start-of-year expectation; raised in July and again in October)*
- Net income (2026): now ~€2.2bn *(up from €1.9bn in February; €2.1bn in July)*
- Net debt (2026): expected to finish below €13bn (implied improvement vs. €13.5bn forecast in February)
- Interpretation for investors: elevated forward curves and strong YTD performance translate into higher confidence on closing the year.
Dividend: maintained; strong shareholder return profile
- 2026 total dividend: €1.8 per share (confirmed)
- Interim #2: €0.60/share payable 5 Nov 2026
- Implied yield: ~6% at current share price (as stated on call)
- In 9M: dividends paid ~€1.1bn; free cash flow after minorities ~€>1bn (i.e., cash covers dividends)
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Share Statistics
| Market cap | $31.93 Billion |
|---|---|
| Enterprise Value | $43.78 Billion |
| Annual dividend | $0.41 |
| Dividend yield | 5.97% |
| Earnings per Share | $0.4 |
| Beta | 0.46 |
| Outstanding Shares | 4,633,253,000 |
Return
| Return on Equity | 21.83% |
|---|---|
| Return on Assets | 5.13% |
| Return on Invested Capital | 11.50% |
Valuation & Multiples
| P/E Ratio | 13.48 |
|---|---|
| PEG | 69.34 |
| Price to Sales | 1.62 |
| Price to Book Ratio | 3.24 |
| Enterprise Value to Revenue | 2.23 |
| Enterprise Value to EBIT | 11.46 |
| Enterprise Value to Net Income | 20 |
| Total Debt to Enterprise | 0.38 |
| Debt to Equity | 1.73 |
Revenue Sources
No data
Last Earnings Call
Report Date
October 29, 2026
EPS Estimate
$0.12
Consensus analyst estimateRevenue Estimate
$6.33 B
Consensus analyst estimateNext Earnings Call
Expected Date
March 2, 2027
EPS Estimate
$0.11
Consensus analyst estimateRevenue Estimate
$8.63 B
Consensus analyst estimateInstitutional Put/Call Ratio
Compares institutional put options with call options. At 0.00, the ratio is below 1, so institutions hold more calls than puts.
| Put/Call Ratio | 0.00000% |
|---|---|
| Total Calls | - |
| Total Puts | - |
Institutional Ownership
Holdings and activity of institutional investors.
| Ownership % | 0.00%0% |
|---|---|
| Total Invested | $7,719 |
| Investors Holding | 1▲ 1.00% |
About Naturgy Energy Group, S.A.
6,764 employees
CEO: Francisco Miguel Reynes Massanet
Naturgy Energy Group, S.A., an enduring energy conglomerate based in Madrid, Spain, traces its origins back to 1843. This company, which adopted its current name in June 2018 after previously operating as Gas Natural SDG, S.A., is deeply...