Engie SA
Engie SA engages in renewables and decentralized and low-carbon energy networks in France, Europe, North America, Asia, the Middle East, Oceania, South America, Africa, and internationally. The Renewables & Flex Power segment comprises renewable energy generation activities, including financing, co…
Engie SA engages in renewables and decentralized and low-carbon energy networks in France, Europe, North America, Asia, the Middle East, Oceania, South America, Africa, and internationally. The Renewables & Flex Power segment comprises renewable energy generation activities, including financing, construction, operation, and maintenance of renewable energy, such as hydroelectric, onshore wind, photovoltaic solar, biomass, offshore wind, geothermal, and battery storage. It also offers flexible thermal generation and electricity, pumping, and battery storage facilities; solutions for decarbonizing industry with low-carbon hydrogen; and operation of desalination plants. The Networks segment comprises the gas and power infrastructure activities, including the management and development of gas and electricity transportation networks and natural gas distribution networks in and outside of Europe, natural gas underground storage, and regasification infrastructure. The Local Energy Infrastructures provides the construction and management of decentralized energy networks, including heating and cooling networks, distributed power generation plants, distributed solar power parks, low-carbon mobility, low-carbon cities and public lighting, energy efficiency, technical maintenance, and sustainable development consulting. The Supply & Energy Management segment optimizes the Group's energy assets, manages market and portfolio risks, and supplies natural gas, green and low-carbon gas, and electricity to residential, business, industrial customers, develops green energy contracts, and digital consumption management. The Other segment manages nuclear power production and holds drawing rights, focusing on operational management, safety, and decommissioning. It offers renewable electricity, green gas, energy management. The company was formerly known as GDF SUEZ S.A. and changed its name to Engie SA in April 2015. Engie SA was founded in 1880 and is based in La Garenne-Colombes, France.Priced within the modelled range
5-year outlook: Not shown because confidence is low: Earnings-based DCF is somewhat apart.
Other models: EUR 24.11–49.12 (median 36.62). The recommended value is in line with them.
Why: Dividends are a large share of earnings, so the cash paid to shareholders is the best guide to value.
Details and the full model are below.
Market price within modeled range
Uses reported dividends of EUR 1.7870 per share from Fiscal year 2025, with 2.2% perpetual growth (base growth capped at the terminal rate) and 8.6% discount rates. The range varies growth and discount assumptions by 1 percentage point; it is illustrative, not a statistical confidence interval or investment advice.
Assumptions: growth 3% (limited from 3.96% because the latest annual revenue declined), discount rate 8.60%, terminal growth 2.20%. See a worked example.
Blended growth assumption: 4.0% (sector default 4.0%, own revenue history 5.6%, analyst revenue consensus 3.1%).
Analyst consensus expects revenue growth of 3.1% a year; the growth assumption used is 3.0%.
Adjust assumptions
Why this model: Dividends are a large share of earnings, so the cash paid to shareholders is the best guide to value.
Compare models- Recommended: Dividend discount model — EUR 28.54 (+18.3%)
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EPS-based Gordon proxy
— EUR 24.11 (0.0%)
Not used: Treats all earnings as if paid out and ignores the cash kept for reinvestment, so it overstates value for companies that retain most profit.
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DCF (trailing free cash flow)
— not applicable
Not used: Cannot be computed: free cash flow is zero or negative.
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FCFF (steady state)
— not applicable
Not used: Cannot be computed: free cash flow is zero or negative.
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EV/EBITDA (12x)
— EUR 49.12 (+103.7%)
Not used: Used only when free cash flow is far below earnings even after averaging three years; a fixed 12x multiple also ignores sector differences.
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Fade DCF (10-year growth fade)
— not applicable
Not used: Cannot be computed: free cash flow is zero or negative.
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EV/Sales (Rule of 40)
— EUR 109.22 (+352.8%)
Not used: Used only for technology and communication companies whose cash-flow value is far below the price.
| Bear EUR 21.53 | -12.0% |
| Base EUR 28.54 | 15.5% |
| Bull EUR 41.91 | 42.5% |
Margin = (value − price) / value, so it is measured against the value and reads lower than the upside to value, which is measured against the price. Positive means the price is below that case.
At EUR 24.12 the market implies perpetual dividend growth of about this rate (discount rate 8.6%).
Compare: the market implies 1.1% a year, this model assumes 2.2%. The model is more optimistic than the price, which is why it reads as undervalued.
How the Dividend discount model value changes with growth (rows) and discount rate (columns). Green cells are above the current price. Dividend growth cannot exceed the long-run rate, so duplicate capped scenarios are omitted.
| Growth \ Discount | 6.6% | 7.6% | 8.6% | 9.6% | 10.6% |
|---|---|---|---|---|---|
| -1.8% | 20.89 | 18.67 | 16.87 | 15.39 | 14.15 |
| 0.2% | 27.98 | 24.20 | 21.32 | 19.05 | 17.22 |
| 2.2% | 41.51 | 33.82 | 28.54 | 24.68 | 21.74 |
Track record: see the methodology page for how this model has performed historically, including its limits. Treat it as a screen, not a forecast.
Price history and fair value
No chartable saved daily price history is available for this range. The chart uses stored EODHD prices only and will appear after history is saved.
More detail: quality, peers, price history, dividends and financials
Quality score: 76 / 100
Five equal checks on reported history: profitability, cash generation, revenue growth, balance sheet and margins. It describes business quality, not whether the price is attractive.
| Profitability | 5 of 5 years profitable | 20 / 20 |
| Cash generation | free cash flow positive in 4 of 5 years | 16 / 20 |
| Growth | revenue +5.6% a year | 20 / 20 |
| Balance sheet | net debt 2.9x EBITDA | 10 / 20 |
| Margins | EBITDA margin 19% | 10 / 20 |
Peers in Utilities
Same-sector companies with a valuation, most undervalued first. Compare the margin of safety, yield and quality score side by side.
| Company | Price | Margin of safety | P/E | P/B | Yield | Quality |
|---|---|---|---|---|---|---|
| ENGI.PA (this company) | EUR 24.12 | 15.5% | 16.0 | 1.9 | 7.4% | 76 |
| ED Consolidated Edison | USD 121.44 | 29.8% | 20.3 | 1.7 | 2.7% | 78 |
| FORTUM.HE Fortum Oyj | EUR 23.15 | -3.6% | 25.8 | 2.6 | 6.0% | 72 |
| D Dominion Energy | USD 69.64 | -5.5% | 22.7 | 2.1 | 3.8% | 76 |
| CMS CMS Energy | USD 70.68 | -6.5% | 25.4 | 2.3 | 3.2% | 64 |
| CNA.L Centrica plc | GBP 1.51 | -6.6% | – | 2.3 | 3.3% | 92 |
| NTGY.MC Naturgy Energy Group, S.A. | EUR 29.32 | -9.8% | 14.1 | 3.0 | 5.9% | 70 |
| EIX Edison International | USD 60.88 | -11.3% | 6.4 | 1.3 | 5.6% | 52 |
| NEE NextEra Energy | USD 88.25 | -16.2% | 15.9 | 3.0 | 2.7% | 72 |
| Peer median | 20.3 | 2.3 | ||||
Dividends
Paid in the last 12 months: EUR 1.35 per share · yield 5.60% at the current price.
| Year | Dividends per share |
|---|---|
| 2026 (so far) | 1.350 |
| 2025 | 1.480 |
| 2024 | 1.430 |
| 2023 | 1.400 |
| 2022 | 0.850 |
| 2021 | 0.530 |
Annual financial statement
Saved annual report · Fiscal year 2025 · EODHD annual statements · period ended 31 Dec 2025
| Revenue | EUR 71,944,000,000 |
|---|---|
| EBITDA | EUR 13,642,000,000 |
| EBIT | EUR 8,491,000,000 |
| Net income | EUR 3,827,000,000 |
| Free cash flow | EUR -9,471,000,000 |
| Capital expenditures | EUR 7,267,000,000 |
| Debt | EUR 54,568,000,000 |
| Cash | EUR 15,365,000,000 |
| Working capital | EUR 4,564,000,000 |
| Shares outstanding | 2,534,437,000 |
| Reported dividends per share | EUR 1.7870 |