Enel S.p.A.

ENEL.MI

Diversified Utilities · Utilities

Also trades as: ENLAY

Exchange

Italian Stock Exchange

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Good

Growth

Weak

Cash Flow

Strong

Stability

Weak

Valuation

Strong

Dividends

Exceptional

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Winston Score History

The full picture

Enel S.p.A. is an Italian energy company that generates, distributes, and sells electricity and natural gas to homes, businesses, and governments. It operates power plants using a mix of renewable sources — like wind, solar, and hydropower — as well as traditional fossil fuels. Enel is one of the largest utility companies in the world by number of customers, serving over 60 million end users.

Enel makes money by charging customers for electricity and gas, collecting fees for using its distribution networks, and selling energy wholesale. It operates across Europe, Latin America, North America, and Africa, giving it broad geographic reach. Its massive grid infrastructure and long-term government contracts create high barriers for competitors to enter its markets. The company has been investing heavily in renewable energy expansion, which could drive future growth, but it also carries significant debt — a key risk if interest rates stay elevated or energy prices fall sharply.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+9.3% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+30.8% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

19.8%ownership

↓ Declining

Insider ownership declining — could be dilution or selling

Cash Runway

~3 years

€17.1B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

€17.1B cash & investments at current burn rate

Growth context

Enel S.p.A. is growing revenue at 9% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

21.7%

Thin — 21.7% gross margin

Profit after running costs

Operating Margin

23.2%

Excellent — 23.2% operating margin

Return on the money invested

ROCE

12.4%

Good — 12.4% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

+0.7%

Nearly flat sales (+0.7% YoY)

Profit growth

EPS YoY

-33.3%

Earnings shrinking (-33.3% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

3/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

294%

Turns 294% of profit into real cash

Spare cash per sale

FCF Margin

6.5%

Modest free cash flow (6.5%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

2.10

Heavy debt load (2.10)

Covers its interest

Interest Cover

1.37x

Dangerous — barely covers interest (1.4x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

23.9x

no trend

Growth-priced — P/E 23.9

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year

P/E vs Forward

+11.4

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (23.9 → 12.5)

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Dividends

Dividend

Dividend Yield

4.98%

no trend

Healthy income — 4.98% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record

Dividend Growth

+24.4%

no trend

Dividend growing fast (24.4% YoY)

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