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French utility generating and supplying electricity and natural gas, with a large renewable power and energy-services business.
French utility generating and supplying electricity and natural gas, with a large renewable power and energy-services business.
Earns from regulated gas networks and storage, from power and gas sold to customers, and from long-term renewable power and energy-services contracts. The French state is the largest shareholder. It has restructured toward renewables, networks and services, selling fossil-fuel power plants.
In one line: A French utility akin to a combined NextEra Energy and Duke Energy..
Moat: narrow (scale, regulatory licence, installed base). Large regulated networks and long-term power contracts give stable, hard-to-replicate infrastructure positions.
Headquarters: Paris, France · Employees: 90,000
Size Engie (ENGI.PA) is a France Utilities company (Electric Utilities) with a market value of $69.0B, the 15th largest of 206 France companies the cockpit tracks. Shares closed at €24.20 on 6 Nov 2026.
Performance Over six months the shares fell 11.5%, against +1.7% for the median peer and -0.4% for the France market (cap-weighted) — 3rd lowest of 21 in its peer set.
Growth Revenue fell 5.1% over the last twelve months (peer median +6.5%); the operating margin is 13.1% (peer median 22.7%).
Valuation It trades at 11.7× forward earnings against a peer median of 18.4× (cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 6% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is -4 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 0.7 points below its cost of capital (6.8% WACC).
Credit Engie has 4 bonds outstanding ($2.50B), rated BBB+ by the agencies and trading like BBB at a weighted spread of 105 bp.
Next results Next results expected around 4 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €70.6B | €71.9B | €73.8B | €82.6B | €93.9B |
| Revenue growth | — | -3% | -11% | -12% | — |
| Gross profit | €9.23B | €9.10B | €10.6B | €11.8B | €6.06B |
| EBITDA | €13.9B | €13.6B | €14.1B | €11.6B | €7.91B |
| Net income | €4.23B | €3.69B | €4.03B | €2.13B | €140M |
| Free cash flow | €1.15B | -€9.47B | €3.25B | €5.43B | €1.56B |
| Capital expenditure | €6.98B | €7.27B | €9.38B | €7.33B | €6.38B |
| Total debt | n/a | €59.0B | €56.0B | €50.7B | €44.0B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Engie ENGI.PA | $69.0B | -11% | -5% | 13% | 11.7× | 5.8% |
| Iberdrola IBE.MC | $168B | +16% | +1% | 21% | 21.9× | 11.4% |
| Rwe RWE.DE | $50.4B | +2% | -34% | 0% | 18.6× | n/a |
| E.on EOAN.DE | $55.9B | +4% | -8% | 7% | 17.5× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ENGI.PA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.6% | +8.1% | 9th lowest of 21 |
| 6-month return | -11.5% | +1.7% | 3rd lowest of 21 |
| Distance from 52-week high | -19.0% | -6.8% | 4th lowest of 21 |
| Revenue growth (TTM) | -5.1% | +6.5% | 3rd lowest of 21 |
| Operating margin | 13.1% | 22.7% | 3rd lowest of 21 |
| Forward P/E | 11.7× | 18.4× | cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 5.8% | 6.2% | 3rd least demanding of 6 |
| Growth delivered (Del g) | +10.2% | +8.5% | highest of 6 |
| Hurdle (Req g minus delivered) | -4.4 pp | +2.3 pp | 2nd least demanding of 6 |
| ROIC minus cost of capital | -0.7 pp | -1.2 pp | 7th highest of 21 |
| EV / EBITDA | 9.5× | 13.5× | 2nd cheapest of 20 |
| Net debt / EBITDA | 4.5× | 4.9× | 9th least indebted of 20 |
| Bond spread | 105 bp | 84 bp | 3rd widest of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Engie ENGI.PA | France | $69.0B | -11% | -5% | 13% | 11.7× | 5.8% | +10.2% |
| American Electric Power AEP | United States | $68.9B | -3% | +10% | 24% | 18.5× | n/a | n/a |
| Dominion Energy D | United States | $60.3B | +12% | +23% | 29% | 18.7× | n/a | n/a |
| National Grid NG..L | United Kingdom | $84.5B | -2% | -4% | 29% | 13.8× | n/a | n/a |
| E.on EOAN.DE | Germany | $55.9B | +4% | -8% | 7% | 17.5× | n/a | n/a |
| Constellation Energy CEG | United States | $88.6B | -18% | +21% | 15% | 20.5× | 20.3% | +8.8% |
| Entergy ETR | United States | $52.8B | -1% | +11% | 24% | 22.8× | n/a | n/a |
| Xcel Energy XEL | United States | $51.1B | +1% | +4% | 22% | 18.1× | n/a | n/a |
| Endesa ELE.MC | Spain | $51.0B | +21% | +6% | 17% | 18.4× | 0.5% | +4.7% |
| Rwe RWE.DE | Germany | $50.4B | +2% | -34% | 0% | 18.6× | n/a | n/a |
| Duke Energy DUK | United States | $99.6B | +4% | +6% | 27% | 18.2× | n/a | n/a |
| Exelon EXC | United States | $47.2B | +5% | +7% | 20% | 15.2× | n/a | n/a |
| Southern SO | United States | $106B | +1% | +6% | 24% | 20.0× | n/a | n/a |
| Enel ENEL.MI | Italy | $108B | 0% | 0% | 16% | 13.4× | 6.2% | +3.8% |
| Consolidated Edison ED | United States | $43.7B | +12% | +10% | 18% | 18.5× | n/a | n/a |
| China Yangtze Power 600900.SS | China | $110B | +9% | 0% | 51% | 21.2× | 1.5% | +8.5% |
| Sse SSE.L | United Kingdom | $43.2B | +7% | +1% | 19% | 14.2× | n/a | n/a |
| Vistra VST | United States | $41.9B | -15% | +9% | 19% | 12.8× | 12.5% | +10.1% |
| Adani Power ADANIPOWER.NS | India | $41.6B | -11% | +8% | 23% | 29.4× | n/a | n/a |
| WEC Energy WEC | United States | $38.1B | +5% | +8% | 25% | 21.6× | n/a | n/a |
| Public Service Enterprise PEG | United States | $36.2B | -5% | +13% | 27% | 16.0× | n/a | n/a |
Engie has 4 bonds outstanding with $2.50B face value. The agencies rate it BBB+; its bonds trade like BBB. Weighted yield 5.70%, a spread of 105 bp over government bonds.