Eni SpAXSWX:ENI 57 Return-on-Tangible-Equity is 9.45% as of Mar. 2026, which is 45% above its 10-year median of 6.51. GuruFocus rates XSWX:ENI with a GF Score™ of 57/100 and a GF Value™ of CHF15.91. The stock has 4 warning signs investors should review. Among 948 Oil & Gas companies, Eni SpA ranks worse than 52.22% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Eni SpA's annualized net income for the quarter that ended in Mar. 2026 was CHF3,899 Mil. Eni SpA's average shareholder tangible equity for the quarter that ended in Mar. 2026 was CHF41,245 Mil. Therefore, Eni SpA's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 9.45%.
The historical rank and industry rank for Eni SpA's Return-on-Tangible-Equity or its related term are showing as below:
XSWX:ENI'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: -21.79 Med: 6.51 Max: 31.25
Current: 5.62
During the past 13 years, Eni SpA's highest Return-on-Tangible-Equity was 31.25%. The lowest was -21.79%. And the median was 6.51%.
XSWX:ENI's Return-on-Tangible-Equity is ranked worse than 52.22% of 948
companies
in the Oil & Gas industry
Industry Median: 6.715
vs XSWX:ENI: 5.62
Eni SpA (XSWX:ENI) Return-on-Tangible-Equity Explanation
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Eni SpA Return-on-Tangible-Equity Related Terms
Eni SpA Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Eni SpA's Return-on-Tangible-Equity 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.
XSWX:ENI vs XOM, CVX: Return-on-Tangible-Equity Comparison
For the Oil & Gas Integrated subindustry, Eni SpA's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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 Return-on-Tangible-Equity vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Eni SpA's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Eni SpA's Return-on-Tangible-Equity falls into.
* 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.
In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 9.45% mean?
Eni SpA (XSWX:ENI) has a Return-on-Tangible-Equity of 9.45% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Eni SpA and its competitors. This is 45% above median its historical median of 6.51. According to the industry distribution chart, Eni SpA ranks #495 out of 948 companies in the Oil & Gas industry, placing it in the top 52.2%.
Is Eni SpA's Return-on-Tangible-Equity too high?
Eni SpA's current Return-on-Tangible-Equity of 9.45% is 45% above median its 10-year median of 6.51. The Oil & Gas industry median Return-on-Tangible-Equity is 6.72. Eni SpA's value of 9.45% is 40.7% above this industry median. Based on the distribution chart, Eni SpA ranks #495 out of 948 companies in the Oil & Gas industry, which is below the industry midpoint. Overall, Eni SpA has a GF Score™ of 57/100, reflecting its overall financial health beyond just this single metric.
How does Eni SpA's Return-on-Tangible-Equity compare to XOM and CVX?
According to the Oil & Gas industry distribution chart, Eni SpA ranks #495 out of 948 companies for Return-on-Tangible-Equity. This places Eni SpA in the lower half of its industry. The industry median Return-on-Tangible-Equity is 6.72. Eni SpA's value of 9.45% is 40.7% above this benchmark. While the company's 10-year median is 6.51 vs. the industry median of 6.72, Eni SpA has consistently been above 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 Return-on-Tangible-Equity for an Oil & Gas company?
The median Return-on-Tangible-Equity among Oil & Gas companies is 6.72, based on 948 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Eni SpA's current Return-on-Tangible-Equity of 9.45% is 40.7% above 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 Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Eni SpA and its competitors. For the Oil & Gas industry, the median Return-on-Tangible-Equity is 6.72 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Eni SpA's current Return-on-Tangible-Equity is 9.45%, which is 45% above median its own 10-year median of 6.51. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Eni SpA stock overvalued right now?
Eni SpA (XSWX:ENI) has a current Return-on-Tangible-Equity of 9.45%. The stock's GF Value™ is CHF15.91, compared to a current price of CHF21.95 — trading 38% above its estimated fair value. The current Return-on-Tangible-Equity is 9.45%, which is 45% above median its 10-year median of 6.51 and 40.7% above the Oil & Gas industry median of 6.72. Eni SpA's overall GF Score™ is 57/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For Eni SpA (XSWX:ENI), the current Return-on-Tangible-Equity is 9.45% as of Mar. 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 Eni SpA (XSWX:ENI) Overvalued in 2026?
Based on GuruFocus' analysis, Eni SpA stock appears to be overvalued.
The current stock price of CHF21.95 is trading 38% above its estimated GF Value™ of CHF15.91.
Key valuation signals for XSWX:ENI:
Return-on-Tangible-Equity: 9.45% (45% above median its 10-year median of 6.51)
GF Value™: CHF15.91 vs. price of CHF21.95 (38% above fair value)
Industry Position: 40.7% above the Oil & Gas median (#495 of 948)
No single metric tells the full story. See the XSWX:ENI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Eni is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2025, the company produced 0.8 million barrels of liquids and 4.6 billion cubic feet of natural gas per day. At year-end 2025, Eni held reserves of 6.9 billion barrels of oil equivalent, 44% of which are liquids. The Italian government owns a 33.1% stake in the company. Plentitude, Eni's renewable and low-carbon business, has 5.8 gigawatts of renewable power capacity, serves 10 million electricity customers, and operates 23,000 electric vehicle charging points.
57GF Score
Get the complete analysis for XSWX:ENI
Return-on-Tangible-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
XSWX:ENI has been successfully added to your 
