Engie SA ENGIY

UtilitiesMultiline UtilitiesFrance

Last close 26.29 USD on Nov 2, 2026, +6.1% year to date

Quant rating

Quant rating D Rank 67 of 89 in Utilities

Growth D 66 of 89
Valuation B 23 of 89
Quality D 76 of 89
Revisions D 72 of 89
Momentum C 37 of 89

Wall Street consensus Strong Buy (1.00)Average target 35.14 USD +33.7%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 66.6B
Enterprise value: 137.9B
52-week range: 23.31 – 34.78
3-year range: 13.97 – 34.78
Dividend yield: 4.61%
Beta (5 years): 0.49
Shares outstanding: 2,542M
Next earnings: –

About the company

ENGIE SA is a France-based energy company. The Company operates through Renewables & Flex Power, Networks, Local Energy Infrastructures, Supply & Energy Management, Nuclear and Other activities. Renewables & Flex Power includes renewable electricity generation, battery energy storage systems (BESS) and gas-fired power generation. Its renewable activities include the development, financing, construction, operation and maintenance of hydroelectric, onshore and offshore wind, photovoltaic solar and biomass generation facilities, as well as battery and pumped-storage solutions. Networks includes gas and electricity infrastructure activities. Local Energy Infrastructures includes heating and cooling networks, on-site energy production and related energy solutions. Supply & Energy Management includes the supply of electricity and gas and energy management activities. The Company also engages in nuclear power generation.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	84,498	76,418	91,118	100,455	65,782	–
Revenue growth	10.6%	−16.1%	−9.3%	52.7%	21.6%	9.3%
EPS (basic, normalized)	2.20	2.42	2.36	2.28	–	–
EPS growth	−9.2%	2.8%	3.4%	–	–	–
Gross margin	31.9%	33.4%	28.0%	20.6%	32.8%	29.3%
Net margin	5.1%	5.5%	2.6%	−2.2%	6.0%	3.4%
ROE	11.3%	12.7%	6.9%	−5.5%	10.9%	7.3%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Current ratio	–
Long-term debt (mil)	–
Net debt (mil)	–
Total equity (mil)	–
Net debt / equity	–
Net debt / EBITDA	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	84,498	+10.6%	1.6x	16,617	−0.4%	8.3x	2.20	−9.2%	12.0x
2026	84,075	−0.5%	1.6x	17,362	+4.5%	7.9x	2.37	+7.8%	11.1x
2027	86,183	+2.5%	1.6x	18,524	+6.7%	7.4x	2.42	+2.1%	10.9x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	84,075	0.0%	−0.4%	−3.1%	2.37	0.0%	−0.8%	+3.0%
2027	86,183	0.0%	−0.4%	–	2.42	0.0%	−0.4%	–
2028	–	–	–	–	–	–	–	–

Earnings surprises

Reported results versus consensus, last 10 fiscal quarters
	FQ-9	FQ-8	FQ-7	FQ-6	FQ-5	FQ-4	FQ-3	FQ-2	FQ-1	FQ0
Sales reported (mil)	–	–	–	–	–	–	–	–	–	–
Sales mean (mil)	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–
EPS reported	–	–	–	–	–	–	–	–	–	–
EPS mean	–	–	–	–	–	–	–	–	–	–
Surprise	–	–	–	–	–	–	–	–	–	–

FQ0 is the most recent reported quarter, FQ-1 the one before, and so on.

Peer comparison Multiline Utilities

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
ENGIY Engie SA	66.6B	–	5.1%	1.48x	11.1x	10.9x	7.9x	7.4x
NGG National Grid PLC	84.3B	–	18.3%	1.60x	13.8x	12.7x	11.6x	10.2x
SRE Sempra	56.2B	8.39x	13.1%	1.72x	16.7x	15.5x	16.8x	16.6x
EONGY E.ON SE	55.3B	4.66x	2.2%	2.31x	17.2x	15.0x	9.7x	8.6x
RWEOY RWE AG	49.2B	3.81x	17.8%	1.24x	17.3x	16.3x	10.9x	9.5x
PEG Public Service Enterprise Group Incorporated	37.1B	5.86x	17.3%	2.14x	17.1x	16.0x	12.8x	11.6x
Mean		5.68x	12.3%	1.75x	15.5x	14.4x	11.6x	10.7x
Median		5.26x	15.2%	1.66x	16.9x	15.3x	11.2x	9.8x

Technical analysis

1M+2.3%
3M−16.0%
1Y+18.6%
3Y+113.9%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Engie SA, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	84,498	76,418	91,118	100,455	65,782	54,111
Cost of revenue	57,571	50,891	65,578	79,768	44,177	34,304
Gross profit	26,926	25,526	25,540	20,687	21,605	19,807
Selling, general & administrative expenses	12,988	11,888	12,116	13,084	10,778	10,903
Research & development	–	–	–	–	–	–
Depreciation/amortization	6,050	5,309	5,392	4,897	4,968	5,335
Interest expense (income), operating	−696	−560	−3,858	−1,133	−909	−675
Unusual expense (income)	982	919	6,847	4,480	221	3,680
Other operating expenses	−2,118	−1,278	−1,897	−1,906	−1,094	−1,318
Operating income	9,721	9,247	6,941	1,265	7,642	1,883
Net interest income (expense)	−1,501	−895	−960	−897	−1,000	−956
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−800	−911	−1,638	−2,376	−534	−1,021
Net income before taxes	7,420	7,442	4,343	−2,008	6,107	−94.0
Provision for taxes	1,844	2,293	1,138	−88.8	1,927	813
Minority interest	−1,082	−898	−767	−184	−109	−784
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	4,495	4,251	2,438	−2,103	4,071	−1,691
Extraordinary items	–	–	0	2,335	89.8	−187
Net income	4,495	4,251	2,438	232	4,161	−1,878
EBIT, normalized	10,007	9,607	9,929	4,612	6,953	4,888
EBITDA, normalized	16,057	15,809	15,321	9,509	11,921	10,222
Basic EPS, normalized	2.20	2.42	2.36	2.28	–	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Engie SA, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	18,046	18,363	19,148	17,568	16,162	18,924
Receivables	35,826	46,224	44,926	64,320	60,883	37,888
Total inventory	3,350	5,240	5,897	8,717	7,020	5,056
Prepaid expenses	–	–	–	–	–	–
Other current assets	11,362	12,334	13,479	20,662	38,614	11,516
Total current assets	68,583	82,161	83,450	111,268	122,678	73,384
Property, plant & equipment	76,928	66,661	63,953	59,384	58,067	60,929
Goodwill	15,398	13,760	14,197	13,756	14,550	19,471
Intangibles	9,301	8,245	9,324	7,881	7,712	8,788
Long-term investments	15,220	12,821	17,664	15,068	17,366	19,259
Note receivable	6,078	4,514	9,442	6,774	5,121	31.8
Other long-term assets	7,274	8,073	16,772	37,891	30,665	5,217
Total assets	198,782	196,236	214,804	252,023	256,159	187,081
Liabilities
Accounts payable	19,014	18,751	24,488	41,915	36,602	20,628
Payable/accrued	–	–	–	–	–	–
Accrued expenses	3,047	2,731	–	–	–	–
Short-term debt	6,937	5,449	6,689	8,563	6,208	5,282
Current portion of long-term debt	6,374	4,000	3,648	4,823	5,831	4,300
Other current liabilities	27,852	44,525	49,078	45,061	59,377	35,782
Total current liabilities	63,223	75,457	83,903	100,362	108,018	65,992
Long-term debt	50,779	44,394	41,848	30,055	34,625	36,751
Minority interest	9,254	7,146	6,254	5,385	5,668	5,998
Other liabilities	36,825	33,463	49,628	79,563	65,794	42,990
Total liabilities	160,081	160,460	181,633	215,365	214,104	151,731
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	2,860	2,521	2,687	2,606	2,768	2,974
Additional paid-in capital	24,687	21,767	26,394	27,469	29,623	38,216
Retained earnings (accumulated deficit)	11,105	9,253	5,736	5,390	5,955	−4,731
Treasury stock	−56.4	−126	−195	−202	−226	−307
Other equity	106	2,362	−1,451	1,396	3,936	−801
Total equity	38,701	35,776	33,171	36,658	42,055	35,351
Total liabilities & shareholders' equity	198,782	196,236	214,804	252,023	256,159	187,081

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Engie SA, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	5,577	5,149	3,204	−1,919	4,181	−906
Depreciation, depletion & amortization	6,479	6,203	12,162	8,623	6,234	10,298
Deferred taxes	–	–	–	–	–	–
Non-cash items	3,830	3,558	533	6,689	1,287	1,583
Changes in working capital	−17,619	−1,302	−1,423	−4,204	−3,391	−1,706
Cash from operations	−1,734	13,607	14,476	9,189	8,311	9,268
Investing activities
Capital expenditures	−8,535	−9,716	−8,087	−6,827	−6,809	−6,063
Other investing cash flows	9,057	−2,022	−4,955	2,236	−5,743	1,121
Cash from investing	521	−11,738	−13,042	−4,591	−12,553	−4,941
Financing activities
Financing cash flow items	485	−667	−374	2,529	3,618	−2,501
Cash dividends paid	−5,319	−4,293	−4,488	−2,852	−2,113	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	3,827	3,452	4,622	−2,865	4,006	1,816
Cash from financing	−1,008	−1,508	−241	−3,188	5,511	−685
Foreign exchange effects	−624	2.1	−80.6	388	265	−646
Net change in cash	−2,843	362	1,112	1,798	1,535	2,996
Free cash flow	−10,269	3,891	6,389	2,362	1,502	3,206

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 2, 2026 after market close.