Eni S.p.A. (E) Key Metrics
E key metrics, 2017–2025
Fiscal year ended December 31, 2025 · eurosE returns How much profit the business earns on the capital it uses.
E financial health Debt, liquidity and how easily interest is covered.
E efficiency & capital use Working capital cycle and where the cash goes.
E returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
E debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
E cash returned to shareholders
E key metrics in euros
2017–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 5.7% | 5.5% | 9.8% | 31.1% | 15.1% | −20.3% | 0.3% | 8.3% | 14.0% | −0.0% |
| Return on invested capital (ROIC) | 3.2% | 7.0% | 7.0% | 20.0% | 10.9% | 1.9% | 6.6% | 8.6% | 6.5% | −0.0% |
| Return on assets (ROA) | 1.8% | 1.8% | 3.2% | 9.3% | 4.5% | −7.2% | 0.1% | 3.4% | 5.7% | −0.0% |
| Return on tangible assets | 2.0% | 1.8% | 3.4% | 9.2% | 4.2% | −7.9% | 0.1% | 3.5% | 2.9% | −16.6% |
| Free cash flow margin | 5.6% | 5.7% | 6.8% | 3.8% | 10.0% | 0.4% | 5.7% | 6.4% | 2.4% | −41.3% |
| Income quality (OCF / net income) | 5.11 | 4.99 | 3.17 | 0.42 | 2.21 | — | 83.73 | 3.31 | 3.00 | — |
| Financial health | ||||||||||
| Total debt | €39.20B | €41.84B | €39.14B | €36.87B | €38.13B | €31.70B | €30.17B | €25.86B | €24.71B | €29.6M |
| Cash & short-term investments | €15.09B | €14.98B | €16.98B | €18.41B | €14.55B | €14.91B | €12.75B | €17.39B | €15.01B | €21.5M |
| Net debt | €24.11B | €26.86B | €22.17B | €18.46B | €23.58B | €16.79B | €17.41B | €8.48B | €9.70B | €8.0M |
| Debt / equity | 0.91 | 0.88 | 0.81 | 0.74 | 0.97 | 0.85 | 0.63 | 0.51 | 0.51 | 0.70 |
| Debt / assets | 0.28 | 0.28 | 0.27 | 0.24 | 0.27 | 0.28 | 0.24 | 0.21 | 0.21 | 0.41 |
| Net debt / EBITDA | 1.13 | 1.72 | 1.16 | 0.61 | 1.26 | 2.00 | 1.04 | 0.49 | 0.84 | — |
| Current ratio | 1.19 | 1.15 | 1.30 | 1.26 | 1.34 | 1.39 | 1.18 | 1.39 | 1.47 | 11.48 |
| Quick ratio | 1.04 | 0.99 | 1.12 | 1.11 | 1.19 | 1.22 | 1.02 | 1.23 | 1.29 | 10.91 |
| Interest coverage | 0.6 | 8.0 | 9.3 | 22.7 | 13.4 | 1.6 | 7.3 | 10.7 | 3.5 | — |
| Working capital | €6.59B | €5.75B | €10.65B | €12.88B | €14.46B | €9.17B | €5.26B | €11.07B | €11.70B | €24.3M |
| Invested capital | €67.05B | €74.65B | €70.27B | €68.22B | €63.01B | €54.20B | €65.25B | €59.49B | €57.73B | €50.2M |
| Tangible asset value | €42.21B | €44.75B | €42.19B | €44.70B | €34.72B | €34.56B | €44.84B | €47.90B | €45.15B | €766,097 |
| Net current asset value | −€50.55B | −€55.85B | −€51.09B | −€44.52B | −€46.47B | −€42.35B | −€45.29B | −€31.53B | −€34.69B | −€4.2M |
| Capital allocation | ||||||||||
| Dividends paid | €3.08B | €3.07B | €3.05B | €3.01B | €2.36B | €1.97B | €3.02B | €2.95B | €2.88B | — |
| Share buybacks (net) | €1.90B | €2.01B | €1.80B | €2.40B | €400.0M | — | €400.0M | €0 | €0 | €0 |
| Dividend payout ratio | 118.1% | 116.9% | 63.8% | 21.7% | 40.5% | — | — | 71.6% | 85.4% | — |
| Dividends + buybacks / free cash flow | 107.5% | 99.8% | 76.0% | 107.4% | 36.2% | — | 85.1% | 60.7% | 177.0% | — |
| Capex / revenue | 10.6% | 9.0% | 9.3% | 0.6% | 6.8% | 10.5% | 12.0% | 11.6% | 12.7% | 9.3% |
| Capex / operating cash flow | 65.3% | 61.1% | 57.8% | 13.5% | 40.7% | 96.1% | 67.6% | 64.3% | 83.9% | — |
| Capex / depreciation | 1.18 | 1.02 | 1.12 | 0.11 | 0.74 | 0.63 | 1.03 | 1.21 | 1.10 | 1.21 |
| Stock-based compensation / revenue | — | — | −22.1% | — | −3.0% | 6.1% | −3.6% | −6.6% | −10.4% | — |
| R&D / revenue | 0.3% | 0.2% | 0.2% | 0.1% | 0.2% | 0.4% | 0.3% | 0.3% | 0.3% | — |
| SG&A / revenue | 3.9% | 3.7% | 3.3% | 2.3% | 3.8% | 6.5% | 4.3% | 4.1% | 4.4% | 88.6% |
| Efficiency | ||||||||||
| Days sales outstanding | 78.6 | 75.2 | 79.0 | 63.4 | 83.2 | 105.3 | 75.7 | 75.5 | 44.2 | 747,480.7 |
| Days of inventory on hand | 28.0 | 29.4 | 31.6 | 23.8 | 29.5 | 38.6 | 28.9 | 27.3 | 14.4 | 249,613.0 |
| Days payables outstanding | 71.3 | 69.5 | 76.8 | 62.8 | 75.3 | 85.7 | 68.2 | 66.5 | 34.0 | 594,082.0 |
| Cash conversion cycle (days) | 35.2 | 35.1 | 33.8 | 24.4 | 37.3 | 58.3 | 36.4 | 36.4 | 24.6 | 403,011.7 |
| Receivables turnover | 4.65 | 4.85 | 4.62 | 5.76 | 4.39 | 3.46 | 4.82 | 4.84 | 8.26 | 0.00 |
| Payables turnover | 5.12 | 5.26 | 4.75 | 5.81 | 4.85 | 4.26 | 5.35 | 5.49 | 10.73 | 0.00 |
| Inventory turnover | 13.05 | 12.42 | 11.55 | 15.32 | 12.39 | 9.46 | 12.62 | 13.35 | 25.27 | 0.00 |
| Asset turnover | 0.57 | 0.60 | 0.62 | 0.88 | 0.60 | 0.37 | 0.56 | 0.63 | 1.12 | 0.00 |
| Average receivables | €17.68B | €18.29B | €20.28B | €23.01B | €17.46B | €12.70B | €14.49B | €15.68B | €8.10B | €8.98B |
| Average payables | €14.54B | €14.70B | €16.88B | €18.16B | €12.74B | €9.58B | €11.06B | €11.27B | €5.45B | €5.52B |
| Average inventory | €5.70B | €6.22B | €6.95B | €6.89B | €4.98B | €4.31B | €4.69B | €4.64B | €2.31B | €2.32B |
| Intangibles / total assets | 4.0% | 3.9% | 4.4% | 3.5% | 3.3% | 2.6% | 2.4% | 2.6% | 2.5% | 56.7% |
Computed from E's annual financial statements (latest annual report filed March 23, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in euros; data from EODHD. Averages use the opening and closing balance of each year.
E valuation and financial ratios
Eni S.p.A. earned a return on equity of 5.7% and a return on invested capital of 3.2% in fiscal 2025. It ended the year with €39.2 billion of debt and €15.1 billion in cash and short-term investments, net debt of €24.1 billion. It returned €5.0 billion to shareholders: €3.1 billion in dividends and €1.9 billion in share buybacks, 108% of free cash flow.
See the E income statement, the E chart for price history, or the E stock overview for the latest quote and news.
E key metrics FAQ
What is Eni S.p.A.'s return on equity?
Eni S.p.A.'s return on equity (ROE) was 5.7% in fiscal 2025: net income of €2.6 billion on average shareholders' equity of €45.4 billion.
What is Eni S.p.A.'s ROIC?
Eni S.p.A.'s return on invested capital was 3.2% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Eni S.p.A. have?
Eni S.p.A. had total debt of €39.2 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.91 and €24.1 billion of net debt (1.13 times EBITDA).
Does Eni S.p.A. buy back its shares?
Yes. Eni S.p.A. spent €1.9 billion on net share repurchases in fiscal 2025.
What is Eni S.p.A.'s current ratio?
Eni S.p.A.'s current ratio was 1.19 at the end of fiscal 2025: current assets were 1.19 times current liabilities.