Naturgy Energy GroupWBO:GAS -0.36%66 EV-to-FCF is 16.76 as of Jun. 30, 2026, which is 12% below its 10-year median of 18.94. GuruFocus rates WBO:GAS with a GF Score™ of 66/100 and a GF Value™ of €22.62 (Modestly Overvalued). The stock has 7 warning signs investors should review. Among 298 Utilities - Regulated companies, Naturgy Energy Group ranks better than 52.35% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, Naturgy Energy Group's Enterprise Value is €39,821 Mil.
Naturgy Energy Group's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 was €2,376 Mil. Therefore, Naturgy Energy Group's EV-to-FCF for today is 16.76.
The historical rank and industry rank for Naturgy Energy Group's EV-to-FCF or its related term are showing as below:
WBO:GAS'
s EV-to-FCF Range Over the Past 10 Years
Min: -215.48 Med: 18.94 Max: 43.18
Current: 16.84
During the past 13 years, the highest EV-to-FCF of Naturgy Energy Group was 43.18. The lowest was -215.48. And the median was 18.94.
WBO:GAS's EV-to-FCF is ranked better than 52.35% of 298
companies
in the Utilities - Regulated industry
Industry Median: 18.325
vs WBO:GAS: 16.84
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Naturgy Energy Group (WBO:GAS) EV-to-FCF Explanation
EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Naturgy Energy Group's PE Ratio (TTM) for today is calculated as:
Naturgy Energy Group's share price for today is €27.80.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Naturgy Energy Group's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Dec. 2025 was €2.170.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Naturgy Energy Group EV-to-FCF Related Terms
Naturgy Energy Group EV-to-FCF Historical Data
* Premium members only.
The historical data trend for Naturgy Energy Group's EV-to-FCF can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Utilities - Regulated Gas subindustry, Naturgy Energy Group's EV-to-FCF, along with its competitors' market caps and EV-to-FCF data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Naturgy Energy Group EV-to-FCF vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Naturgy Energy Group's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where Naturgy Energy Group's EV-to-FCF falls into.
Naturgy Energy Group's current Enterprise Value is €39,821 Mil.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Naturgy Energy Group's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 was €2,376 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Naturgy Energy Group (WBO:GAS) has a EV-to-FCF of 16.76 as of Jun. 30, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Naturgy Energy Group and its competitors. This is 12% below median its historical median of 18.94. According to the industry distribution chart, Naturgy Energy Group ranks #142 out of 298 companies in the Utilities - Regulated industry, placing it in the top 47.7%.
Is Naturgy Energy Group's EV-to-FCF too high?
Naturgy Energy Group's current EV-to-FCF of 16.76 is 12% below median its 10-year median of 18.94. The Utilities - Regulated industry median EV-to-FCF is 18.33. Naturgy Energy Group's value of 16.76 is 8.5% below this industry median. Based on the distribution chart, Naturgy Energy Group ranks #142 out of 298 companies in the Utilities - Regulated industry, which is above the industry midpoint. Overall, Naturgy Energy Group has a GF Score™ of 66/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Naturgy Energy Group's EV-to-FCF compare to ATO and NI?
According to the Utilities - Regulated industry distribution chart, Naturgy Energy Group ranks #142 out of 298 companies for EV-to-FCF. This puts Naturgy Energy Group in the upper half of its industry. The industry median EV-to-FCF is 18.33. Naturgy Energy Group's value of 16.76 is 8.5% below this benchmark. While the company's 10-year median is 18.94 vs. the industry median of 18.33, Naturgy Energy Group has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-FCF for an Utilities - Regulated company?
The median EV-to-FCF among Utilities - Regulated companies is 18.33, based on 298 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Naturgy Energy Group's current EV-to-FCF of 16.76 is 8.5% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Naturgy Energy Group and its competitors. For the Utilities - Regulated industry, the median EV-to-FCF is 18.33 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Naturgy Energy Group's current EV-to-FCF is 16.76, which is 12% below median its own 10-year median of 18.94. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Naturgy Energy Group stock overvalued right now?
Based on GuruFocus' analysis, Naturgy Energy Group (WBO:GAS) is currently considered Modestly Overvalued. The stock's GF Value™ is €22.62, compared to a current price of €27.80 — trading 22.9% above its estimated fair value. The current EV-to-FCF is 16.76, which is 12% below median its 10-year median of 18.94 and 8.5% below the Utilities - Regulated industry median of 18.33. Naturgy Energy Group's overall GF Score™ is 66/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For Naturgy Energy Group (WBO:GAS), the current EV-to-FCF is 16.76 as of Jun. 30, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Naturgy Energy Group (WBO:GAS) Overvalued in 2026?
Based on GuruFocus' analysis, Naturgy Energy Group stock appears to be overvalued.
The current stock price of €27.80 is trading 22.9% above its estimated GF Value™ of €22.62.
GuruFocus considers Naturgy Energy Group to be Modestly Overvalued.
Key valuation signals for WBO:GAS:
EV-to-FCF: 16.76 (12% below median its 10-year median of 18.94)
GF Value™: €22.62 vs. price of €27.80 (22.9% above fair value)
Industry Position: 8.5% below the Utilities - Regulated median (#142 of 298)
No single metric tells the full story. See the WBO:GAS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Naturgy stems from the 2008 acquisition of Union Fenosa. The company operates across the gas value chain, from procurement to distribution and marketing. It owns and operates the largest gas distribution network in Spain, where it is also the leading retail gas supplier. The company additionally operates gas and electricity distribution networks across several Latin American countries. It owns 17.9 GW of generation capacity, including 7.3 GW of wind and solar.
66GF Score
Get the complete analysis for WBO:GAS
EV-to-FCF is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
WBO:GAS has been successfully added to your 
