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Eni SpA (XTER:ENI) Piotroski F-Score : 6 (As of Dec. 14, 2024)


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What is Eni SpA Piotroski F-Score?

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Eni SpA has an F-score of 6 indicating the company's financial situation is typical for a stable company.

The historical rank and industry rank for Eni SpA's Piotroski F-Score or its related term are showing as below:

XTER:ENI' s Piotroski F-Score Range Over the Past 10 Years
Min: 3   Med: 6   Max: 9
Current: 6

During the past 13 years, the highest Piotroski F-Score of Eni SpA was 9. The lowest was 3. And the median was 6.


Eni SpA Piotroski F-Score Historical Data

The historical data trend for Eni SpA's Piotroski F-Score 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.

* Premium members only.

Eni SpA Piotroski F-Score Chart

Eni SpA Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.00 4.00 7.00 7.00 5.00

Eni SpA Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.00 5.00 4.00 5.00 6.00

Competitive Comparison of Eni SpA's Piotroski F-Score

For the Oil & Gas Integrated subindustry, Eni SpA's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score 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.


Eni SpA's Piotroski F-Score Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Eni SpA's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Eni SpA's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* 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.

This Year (Sep24) TTM:Last Year (Sep23) TTM:
Net Income was 173 + 1211 + 661 + 522 = €2,567 Mil.
Cash Flow from Operations was 4175 + 1904 + 4571 + 2997 = €13,647 Mil.
Revenue was 24622 + 22936 + 21715 + 20658 = €89,931 Mil.
Gross Profit was 2852 + 3617 + 2700 + 1983 = €11,152 Mil.
Average Total Assets from the begining of this year (Sep23)
to the end of this year (Sep24) was
(140994 + 142606 + 146532 + 147273 + 139363) / 5 = €143353.6 Mil.
Total Assets at the begining of this year (Sep23) was €140,994 Mil.
Long-Term Debt & Capital Lease Obligation was €25,989 Mil.
Total Current Assets was €44,595 Mil.
Total Current Liabilities was €34,248 Mil.
Net Income was 627 + 2388 + 294 + 1916 = €5,225 Mil.

Revenue was 31525 + 27185 + 19591 + 22319 = €100,620 Mil.
Gross Profit was 1177 + 3357 + 2587 + 3606 = €10,727 Mil.
Average Total Assets from the begining of last year (Sep22)
to the end of last year (Sep23) was
(178098 + 152130 + 141866 + 140420 + 140994) / 5 = €150701.6 Mil.
Total Assets at the begining of last year (Sep22) was €178,098 Mil.
Long-Term Debt & Capital Lease Obligation was €26,109 Mil.
Total Current Assets was €48,067 Mil.
Total Current Liabilities was €33,565 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Eni SpA's current Net Income (TTM) was 2,567. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Eni SpA's current Cash Flow from Operations (TTM) was 13,647. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Sep23)
=2567/140994
=0.01820645

ROA (Last Year)=Net Income/Total Assets (Sep22)
=5225/178098
=0.02933778

Eni SpA's return on assets of this year was 0.01820645. Eni SpA's return on assets of last year was 0.02933778. ==> Last year is higher ==> Score 0.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Eni SpA's current Net Income (TTM) was 2,567. Eni SpA's current Cash Flow from Operations (TTM) was 13,647. ==> 13,647 > 2,567 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Sep24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep23 to Sep24
=25989/143353.6
=0.18129297

Gearing (Last Year: Sep23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Sep22 to Sep23
=26109/150701.6
=0.17324965

Eni SpA's gearing of this year was 0.18129297. Eni SpA's gearing of last year was 0.17324965. ==> Last year is lower than this year ==> Score 0.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Sep24)=Total Current Assets/Total Current Liabilities
=44595/34248
=1.30211983

Current Ratio (Last Year: Sep23)=Total Current Assets/Total Current Liabilities
=48067/33565
=1.4320572

Eni SpA's current ratio of this year was 1.30211983. Eni SpA's current ratio of last year was 1.4320572. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Eni SpA's number of shares in issue this year was 3223.1. Eni SpA's number of shares in issue last year was 3300. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=11152/89931
=0.12400618

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=10727/100620
=0.10660902

Eni SpA's gross margin of this year was 0.12400618. Eni SpA's gross margin of last year was 0.10660902. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Sep23)
=89931/140994
=0.63783565

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Sep22)
=100620/178098
=0.56496985

Eni SpA's asset turnover of this year was 0.63783565. Eni SpA's asset turnover of last year was 0.56496985. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+0+1+0+0+1+1+1
=6

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Eni SpA has an F-score of 6 indicating the company's financial situation is typical for a stable company.

Eni SpA  (XTER:ENI) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Eni SpA Piotroski F-Score Related Terms

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Eni SpA Business Description

Industry
Address
1, Piazzale Enrico Mattei, Rome, ITA, 00144
Eni is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2023, the company produced 0.8 million barrels of liquids and 4.6 billion cubic feet of natural gas per day. At end-2023, Eni held reserves of 6.4 billion barrels of oil equivalent, 48% of which are liquids. The Italian government owns a 30.1% stake in the company. Eni is placing its renewable and low-carbon business in a separate entity called Plentitude, which it will likely list publicly at some point.

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