Naturgy Energy Group, S.A.

BME-NTGY

Basic

Market Cap
€21.9B
EV
€36.54B
Shares Out
960.73M
Revenue
€19.63B
Employees
6,650

Margins

Gross
37.33%
EBITDA
24.91%
Operating
18.76%
Pre-Tax
16.47%
Net
10.1%
FCF
10.76%

Returns (5Yr Avg)

ROA
2.8%
ROTA
17.57%
ROE
10.78%
ROCE
9.81%
ROIC
6.76%

Valuation (TTM)

P/E
—
P/B
—
EV/Sales
—
EV/EBITDA
—
P/FCF
—
EV/Gross Profit
—

Valuation (NTM)

Price Target
€24.11
P/E
—
PEG
—
EV/Sales
—
EV/EBITDA
—
P/FCF
—

Financial Health

Cash
€3,805M
Net Debt
€12.16B
Debt/Equity
1.34
EBIT/Interest
7.06

Growth (CAGR)

Rev 3Yr
5.55%
Rev 5Yr
-3.74%
Rev 10Yr
-1.97%
Dil EPS 3Yr
78.98%
Dil EPS 5Yr
-6.08%
Dil EPS 10Yr
3.68%
Rev Fwd 2Yr
1.8%
EBITDA Fwd 2Yr
-5.34%
EPS Fwd 2Yr
-10.9%
EPS LT Growth Est
12%

Dividends

Yield
—
Payout
48.38%
DPS
€1
DPS Growth 3Yr
-11.24%
DPS Growth 5Yr
-5.32%
DPS Growth 10Yr
1.05%
DPS Growth Fwd 2Yr
-3.85%

Metric	Dec '14	Dec '15	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23	LTM
Total Revenues						20,761	15,345	22,140	33,965	22,617	19,634
Total Revenues % Chg.						-14.7%	-26.1%	44.3%	53.4%	-33.4%	-32.9%
Cost of Goods Sold, Total						14,604	10,138	16,529	27,086	15,106	12,305
Gross Profit						6,157	5,207	5,611	6,879	7,511	7,329
Selling General & Admin Expenses, Total						669	610	536	560	601	1,197
Provision for Bad Debts	—	—				109	156	99	228	208	56
Depreciation & Amortization						1,496	—	—	1,384	1,454	1,753
Amortization of Goodwill and Intangible Assets	—	—	—	—	—	—	1,476	1,445	—	—	—
Other Operating Expenses						1,118	972	1,027	1,273	1,488	639
Other Operating Expenses, Total						3,392	3,214	3,107	3,445	3,751	3,645
Operating Income						2,765	1,993	2,504	3,434	3,760	3,684
Interest Expense, Total						-570	-515	-510	-568	-675	-522
Interest And Investment Income						36	22	21	68	190	110
Net Interest Expenses						-534	-493	-489	-500	-485	-412
Income (Loss) On Equity Invest.						75	36	90	128	90	47
Currency Exchange Gains (Loss)			—	—	—	1	-8	-10	-5	-9	-36
Other Non Operating Income (Expenses)						107	-28	111	-147	-3	18
EBT, Excl. Unusual Items						2,414	1,500	2,206	2,910	3,353	3,301
Restructuring Charges	—	—	—			-150	-197	-410	—	—	—
Impairment of Goodwill	—	—	—	—		—	—	—	-4	-175	-7
Gain (Loss) On Sale Of Investments	—			—	—	-25	—	2	—	—	—
Gain (Loss) On Sale Of Assets		—				20	24	16	20	-23	17
Asset Writedown		—	—	—		-38	-1,363	-17	-144	-113	-28
Legal Settlements	—	—	—	—	—	—	—	—	-236	—	—
Other Unusual Items	—	—	—	—	—	-97	—	—	—	—	-50
EBT, Incl. Unusual Items						2,124	-36	1,797	2,546	3,042	3,233
Income Tax Expense						426	19	358	697	768	779
Earnings From Continuing Operations						1,698	-55	1,439	1,849	2,274	2,454
Earnings Of Discontinued Operations						98	24	117	-23	—	—
Minority Interest						-395	-316	-342	-177	-288	-470
Net Income						1,401	-347	1,214	1,649	1,986	1,984
Preferred Dividend and Other Adjustments	—		—	—	—	—	—	—	—	—	—
Net Income to Common Incl Extra Items						1,401	-347	1,214	1,649	1,986	1,984
Net Income to Common Excl. Extra Items						1,303	-371	1,097	1,672	1,986	1,984
Total Shares Outstanding						970.3	960.9	960.8	960.9	960.7	—
Weighted Avg. Shares Outstanding						977.6	962.6	960.9	960.9	960.8	—
Weighted Avg. Shares Outstanding Dil						977.6	962.6	960.9	960.9	960.8	—
EPS						1.4	-0.4	1.3	1.7	2.1	—
EPS Diluted						1.4	-0.4	1.3	1.7	2.1	—
EBITDA						4,112	3,202	3,653	4,603	4,989	4,890.5
Effective Tax Rate						20.1%	-52.8%	19.9%	27.4%	25.2%	24.1%