Galp Energia, SGPS, S.A.

GLPEY

Oil & Gas Integrated · Energy

Price

$11.37

-0.11 (-0.94%)

Market Cap

$34.02B

Exchange

Other OTC

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 9, 2026 · filings through Jun 30, 2026

Share count rising — dilution

+77.9% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 1.66B (2021) → 2.95B (2025)

Galp Energia is a Portuguese energy company that finds, produces, and sells oil and natural gas. It also runs refineries that turn crude oil into fuels like gasoline and diesel, and it operates a network of gas stations across Portugal and Spain. Galp is one of the largest energy companies in Portugal and has significant oil production operations offshore Brazil, particularly in the Santos Basin.

Galp earns money by selling refined fuels, crude oil, and natural gas, as well as through its retail fuel stations. The company operates mainly in Portugal, Spain, Brazil, and parts of Africa, including Mozambique and Angola. Its competitive edge comes from low-cost deepwater oil assets in Brazil, where production costs are relatively cheap. The key growth driver is expanding output from its Brazilian fields, but the main risk is that falling global oil prices could quickly squeeze profits, since Galp's earnings are closely tied to commodity price swings.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+35.3% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+118.2% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

77.9%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$2.5B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Galp Energia, SGPS, S.A. grew revenue 35% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

19.6%

Thin — 19.6% gross margin

Operating Margin

17.8%

Healthy — 17.8% operating margin

ROCE

14.9%

Good — 14.9% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY

+5.4%

Slow sales growth (+5.4% YoY)

EPS YoY

-16.3%

Earnings shrinking (-16.3% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion

231%

Turns 231% of profit into real cash

FCF Margin

6.9%

Modest free cash flow (6.9%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

0.71

Moderate — manageable debt (0.71)

Interest Cover

13.65x

Comfortably covers interest (13.7x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

32.3x

Pricey — P/E 32.3

P/E above the market average. People are paying up for expected growth.

P/E vs Forward

+21.2

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (32.3 → 11.0)

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Dividends

Dividend Yield

3.21%

Moderate income — 3.21% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend Growth

+27.9%

Dividend growing fast (27.9% YoY)

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