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Engie S.A.

ENGI.PA
53
Diversified Utilities · Utilities
Also trades as: ENGIY
Price
€25.29
-0.28 (-1.10%)
Market Cap
€64.26B
Exchange
Euronext Paris
Winston Score
53
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
Mixed
Growth
Good
Cash Flow
Strong
Stability
Mixed
Valuation
Strong
Dividends
Exceptional

Share count rising — dilution

+4.3% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 2.43B (2021) → 2.53B (2025)

Winston Score History

The full picture

Engie S.A. is a large French energy company that produces and delivers electricity, natural gas, and heat to homes, businesses, and governments. It operates power plants that run on natural gas, nuclear energy, wind, solar, and hydropower, and it also manages energy infrastructure like pipelines and electricity networks. Engie is one of the largest utility companies in Europe and is majority-owned by the French government.

Engie makes money by selling energy directly to customers, charging fees to transport gas and electricity through its networks, and providing energy services like building management and efficiency consulting. It operates in over 30 countries, with a strong presence in Europe, Latin America, and Australia, generating roughly €80 billion in annual revenue. The company is shifting its focus toward renewable energy and low-carbon solutions, which could drive long-term growth, but its profitability remains under pressure from volatile energy prices and the high cost of building out new clean energy infrastructure.

Growth Profile

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

Revenue Growth

+92.9% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+125.9% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

€0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

26.7%ownership

Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

€39.4B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Engie S.A. grew revenue 93% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

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
14.7%
Thin — 14.7% gross margin
Profit after running costs
Operating Margin
14.4%
Healthy — 14.4% operating margin
Return on the money invested
ROCE
8.7%
Below par — 8.7% 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
+27.6%
Fast-growing sales (+27.6% YoY)
Profit growth
EPS YoY
+11.6%
Earnings growing (+11.6% YoY)

Healthy double-digit earnings growth — what compounders look like.

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
192%
Turns 192% of profit into real cash
Spare cash per sale
FCF Margin
1.6%
Thin free cash flow (1.6%)

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
2.17
Heavy debt load (2.17)
Covers its interest
Interest Cover
4.73x
Adequate interest coverage (4.7x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
15.5x
Fair value — P/E 15.5

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
+3.2
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (15.5 → 12.3)

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Dividends

Dividend
Dividend Yield
5.07%
Healthy income — 5.07% yield

Generous yield. Worth checking whether the payout is sustainable.

Dividend record
Dividend Growth
+167.0%
Dividend growing fast (167.0% YoY)

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