Eni Spa ADR (E) is slightly undervalued and ExxonMobil Holdings Corp (XOM) is overvalued.
Against our estimates of intrinsic value, E trades at the wider discount: a margin of safety of +17%, against -24% for XOM.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 6.9% (average of 3 methods) values the shares at $64.31; the price of $53.26 is 17% below that value, and 84% of that value comes from beyond year five.
Leak Score 35/100 on 3 of 12 signals
Discounting its cash flows at 7.1% (average of 3 methods) values the shares at $128.10; the price of $158.71 is 24% above that value, and 82% of that value comes from beyond year five.
Leak Score 68/100 on 9 of 12 signals
| Metric | E | XOM |
|---|---|---|
| Verdict | Slightly undervalued | Overvalued |
| Price | $53.26 | $158.71 |
| Intrinsic value | $64.31 | $128.10 |
| Margin of safety | +17% | -24% |
| Leak Score | 35/100 (3/12) | 68/100 (9/12) |
| Market cap | $77.6B | $652.6B |
| Revenue growth, 5 years | 13.1% | 12.7% |
| Operating margin | 7.4% | 11.3% |
| Net margin | 6.4% | 9.0% |
| Return on equity | 7.0% | 12.6% |
| Debt to equity | 0.93 | 0.16 |
| P/E | 13.4x | 20.4x |
| Forward P/E | 9.4x | 14.7x |
| P/B | 1.5x | 2.5x |
| Dividend yield | 4.9% | 2.6% |