Filing Flows › ENI Spa (E) › FY2025
ENI Spa (E) FY2025 earnings results (fiscal 2025)
20-F filed Mar 23, 2026
ENI Spa (E) reported revenue of $82.2B for the fiscal 2025 (FY2025), -7% from a year earlier. Operating margin was 6.1%, net earnings $2.6B (3.2% of revenue).
ENI Spa, FY2025: revenue $82.2B (-8% year over year), operating margin 6.1%, net earnings $2.6B, operating cash flow $13.3B. The chart follows the revenue to costs, profit and cash.
| FY2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $82.2B | — | -7% |
| Operating profit | $5.0B | — | -4% |
| Net earnings | $2.6B | — | -0.6% |
| Operating cash flow | $13.3B | — | +2% |
| Free cash flow | $4.6B | — | -9% |
What changed
Revenue was €82.2B in FY2025, down 7% year over year.
Operating profit was €5.0B, a 6.1% margin (up 0.2 points year over year). Total costs fell 8% while revenue fell 7%. The fastest-growing cost line was Research & development (+16%). Net earnings were €2.6B, down 1% year over year. The effective tax rate was 52.3%.
Operating cash flow was €13.3B (up 2% year over year), 483% of net income including minority interests. Non-cash charges added back €7.3B of depreciation and amortization. Working capital and other items added €3.2B. Capital expenditures of €8.7B left free cash flow of €4.6B.
Questions
What was ENI Spa's revenue in the fiscal 2025?
ENI Spa (E) reported revenue of $82.2B for the fiscal 2025 (FY2025), -7% from a year earlier.
Was ENI Spa profitable in the fiscal 2025?
Operating profit was $5.0B (6.1% of revenue) and net earnings $2.6B.
Source: ENI Spa 20-F on SEC EDGAR.