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UK-listed oil & gas producer focused on natural gas fields in the Eastern Mediterranean, notably Israel's Karish field.
UK-listed oil & gas producer focused on natural gas fields in the Eastern Mediterranean, notably Israel's Karish field.
Sells most gas to Israeli power producers and industrial users under long-term contracts, which gives steadier income than spot sales. Karish began producing in 2022 through a floating production vessel built for the field, turning a development project into an operating business.
In one line: A UK-listed Eastern Mediterranean gas E&P company.
Moat: narrow (regulatory licence, installed base). Licensed offshore gas fields with dedicated production infrastructure (FPSO) already built.
Headquarters: London, UK · Founded: 2007 · Employees: 583
Size Energean (ENOG.L) is a United Kingdom Energy company (Oil & Gas Production) with a market value of $1.72B, the 176th largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £692.00 on 6 Nov 2026.
Performance Over six months the shares fell 19.1%, against -10.8% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 7th lowest of 20 in its peer set.
Growth Revenue grew 8.9% over the last twelve months (peer median +12.3%); the operating margin is 27.4% (peer median 20.4%).
Valuation It trades at 4.2× forward earnings against a peer median of 10.4× (2nd cheapest of 19).
Price implies For today's price to make sense, revenue must grow about -2% a year for seven years (Req g). Recent delivered growth is +127%, so the hurdle is -129 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.8 points above its cost of capital (6.9% WACC).
Credit Energean has 1 bond outstanding ($446M), rated BB- by the agencies and trading like B+ at a weighted spread of 331 bp.
Next results Next results expected around 25 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | £1.24B | £1.31B | £1.39B | £787M | £598M |
| Revenue growth | — | -6% | +77% | +32% | — |
| Gross profit | £378M | £404M | £564M | £364M | £282M |
| EBITDA | £790M | £825M | £775M | £515M | £339M |
| Net income | -£156M | -£195M | £99.7M | £149M | £14.0M |
| Free cash flow | £140M | £127M | £252M | £51.7M | -£238M |
| Capital expenditure | £531M | £652M | £599M | £435M | £374M |
| Total debt | n/a | £2.70B | £2.66B | £2.58B | £2.54B |
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 |
|---|---|---|---|---|---|---|
| Energean ENOG.L | $1.72B | -19% | +9% | 27% | 4.2× | -2.4% |
| Chevron CVX | $415B | +18% | +22% | 15% | 11.4× | -3.0% |
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 | ENOG.L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -1.1% | -10.1% | 4th highest of 21 |
| 6-month return | -19.1% | -10.8% | 7th lowest of 20 |
| Distance from 52-week high | -33.3% | -27.7% | 9th lowest of 21 |
| Revenue growth (TTM) | +8.9% | +12.3% | 9th lowest of 19 |
| Operating margin | 27.4% | 20.4% | 8th highest of 19 |
| Forward P/E | 4.2× | 10.4× | 2nd cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | -2.4% | -11.7% | 4th most demanding of 11 |
| Growth delivered (Del g) | +126.8% | +16.4% | 2nd highest of 11 |
| Hurdle (Req g minus delivered) | -129.2 pp | -25.5 pp | 2nd least demanding of 11 |
| ROIC minus cost of capital | +2.8 pp | +1.4 pp | 8th highest of 21 |
| EV / EBITDA | 4.7× | 3.9× | 8th most expensive of 18 |
| Net debt / EBITDA | 3.1× | 1.0× | most indebted of 18 |
| Bond spread | 331 bp | 258 bp | 2nd widest of 5 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Energean ENOG.L | United Kingdom | $1.72B | -19% | +9% | 27% | 4.2× | -2.4% | +126.8% |
| Spartan Delta SDE.TO | Canada | $1.63B | -11% | +93% | 32% | 7.6× | n/a | n/a |
| Vermilion Energy VET.TO | Canada | $1.61B | -9% | -2% | 14% | 4.3× | -0.8% | +9.1% |
| Etablissements Maurel & Prom MAU.PA | France | $1.57B | -29% | -11% | 31% | 5.4× | n/a | n/a |
| NextDecade NEXT | United States | $1.56B | -23% | n/a | n/a | n/a | n/a | n/a |
| BlueNord BNOR.OL | Norway | $1.49B | -6% | +28% | 32% | 10.9× | -12.2% | +15.0% |
| Beach Energy BPT.AX | Australia | $1.42B | -16% | -9% | 21% | 5.5× | -12.2% | +4.2% |
| Select Water Solutions WTTR | United States | $2.09B | -4% | -2% | 4% | 28.9× | n/a | n/a |
| Cardinal Energy CJ.TO | Canada | $1.40B | -8% | +18% | 31% | 11.8× | 5.3% | +17.9% |
| Parex Resources PXT.TO | Canada | $1.36B | -30% | +14% | 29% | 3.5× | -11.2% | +11.5% |
| Zhongman Petroleum and Natural Gas 603619.SS | China | $1.30B | -42% | -13% | 20% | 20.7× | n/a | n/a |
| Vedanta Oil and Gas VOGL.NS | India | $1.27B | n/a | n/a | n/a | n/a | n/a | n/a |
| Advantage Energy AAV.TO | Canada | $1.26B | +6% | +14% | 20% | 16.0× | n/a | n/a |
| Northern Oil and Gas NOG | United States | $2.43B | -2% | -3% | 30% | 4.9× | n/a | n/a |
| Serica Energy SER.L | United Kingdom | $1.20B | -17% | +64% | 23% | 12.6× | -13.0% | +29.4% |
| Talos Energy TALO | United States | $2.48B | -1% | +13% | 14% | 7.9× | -5.0% | +25.3% |
| Oriental Energy 002221.SZ | China | $1.17B | -36% | -22% | 3% | 15.2× | n/a | n/a |
| Tenaz Energy TNZ.TO | Canada | $1.13B | -21% | +381% | 16% | 11.9× | 17.7% | +103.4% |
| Gulfport Energy GPOR | United States | $2.65B | -16% | +27% | 42% | 6.3× | -13.4% | +10.6% |
| Valeura Energy VLE.TO | Canada | $1.07B | +11% | +6% | 17% | 9.9× | -17.3% | +141.2% |
| International Petroleum Corp. (British Columbia) IPCO.TO | Canada | $2.85B | 0% | +11% | 19% | 11.2× | n/a | n/a |
Energean has 1 bond outstanding with $446M face value. The agencies rate it BB-; its bonds trade like B+. Weighted yield 6.31%, a spread of 331 bp over government bonds.