REN - REDES ENERGÉTICAS NACIONAIS, SGPS, S.A. Financials REN - Redes Energéticas Nacionais, SGPS, S.A. London S.E.
Equities
0KBT
PTREL0AM0008
Electric Utilities
|
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 2.31 EUR | +0.76% |
|
+0.43% | -0.65% |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 1,804 | 1,569 | 1,688 | 1,672 | 1,542 | 1,539 | - | - |
| Enterprise Value (EV) 1 | 4,630 | 4,331 | 4,055 | 3,715 | 4,291 | 4,166 | 4,146 | 4,145 |
| P/E ratio | 15.1 x | 14.8 x | 17 x | 14.8 x | 10.6 x | 14.2 x | 14.1 x | 14.4 x |
| Yield | 6.29% | 7.23% | 6.05% | 6.11% | 6.62% | 6.52% | 6.62% | 6.64% |
| Capitalization / Revenue | 2.29 x | 2.07 x | 2.01 x | 2.03 x | 1.56 x | 1.65 x | 1.6 x | 1.65 x |
| EV / Revenue | 5.89 x | 5.71 x | 4.84 x | 4.51 x | 4.33 x | 4.47 x | 4.3 x | 4.43 x |
| EV / EBITDA | 9.52 x | 9.21 x | 8.8 x | 7.62 x | 8.35 x | 8.27 x | 8.13 x | 8.09 x |
| EV / FCF | 29.8 x | 21.3 x | 8.95 x | 9.02 x | -6.98 x | 16.6 x | 25.7 x | 31.3 x |
| FCF Yield | 3.36% | 4.69% | 11.2% | 11.1% | -14.3% | 6.01% | 3.89% | 3.2% |
| Price to Book | 1.25 x | 1.13 x | 1.2 x | 1.1 x | 1.02 x | 1.01 x | 1.01 x | 1.01 x |
| Nbr of stocks (in thousands) | 663,310 | 663,310 | 663,310 | 663,310 | 663,310 | 663,310 | - | - |
| Reference price 2 | 2.720 | 2.365 | 2.545 | 2.520 | 2.325 | 2.320 | 2.320 | 2.320 |
| Announcement Date | 3/25/20 | 3/23/21 | 3/24/22 | 3/7/23 | 3/7/24 | - | - | - |
1EUR in Million2EUR
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 786.8 | 758.3 | 838.4 | 823 | 991.2 | 932.5 | 964 | 935.3 |
| EBITDA 1 | 486.2 | 470.2 | 460.8 | 487.3 | 514 | 503.6 | 510.1 | 512.1 |
| EBIT 1 | 250.6 | 228.9 | 218.9 | 238 | 260.8 | 246.9 | 246.1 | 241.8 |
| Operating Margin | 31.85% | 30.18% | 26.11% | 28.92% | 26.31% | 26.47% | 25.53% | 25.86% |
| Earnings before Tax (EBT) 1 | 198.1 | 182.2 | 176.3 | 194.1 | 220.2 | 183.7 | 181.9 | 172.8 |
| Net income 1 | 118.9 | 109.2 | 97.2 | 111.8 | 149.2 | 108.1 | 108.8 | 108.7 |
| Net margin | 15.11% | 14.41% | 11.59% | 13.58% | 15.06% | 11.59% | 11.29% | 11.62% |
| EPS 2 | 0.1800 | 0.1600 | 0.1500 | 0.1700 | 0.2200 | 0.1635 | 0.1640 | 0.1617 |
| Free Cash Flow 1 | 155.6 | 203 | 452.9 | 411.9 | -614.5 | 250.3 | 161.1 | 132.6 |
| FCF margin | 19.77% | 26.76% | 54.03% | 50.05% | -62% | 26.84% | 16.72% | 14.18% |
| FCF Conversion (EBITDA) | 32% | 43.16% | 98.29% | 84.53% | - | 49.71% | 31.59% | 25.9% |
| FCF Conversion (Net income) | 130.84% | 185.78% | 465.98% | 368.42% | - | 231.6% | 148.06% | 122.02% |
| Dividend per Share 2 | 0.1710 | 0.1710 | 0.1540 | 0.1540 | 0.1540 | 0.1513 | 0.1535 | 0.1540 |
| Announcement Date | 3/25/20 | 3/23/21 | 3/24/22 | 3/7/23 | 3/7/24 | - | - | - |
1EUR in Million2EUR
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 S1 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 S1 | 2022 Q3 | 2023 Q1 | 2023 Q2 | 2023 S1 | 2023 Q3 | 2023 Q4 | 2024 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | - | - | - | - | - | - | 215.9 | 243.1 | - | - | - | 211.1 |
| EBITDA 1 | 227.9 | 117.4 | 118.4 | 120 | 238.4 | 122.5 | 131.9 | 133 | 264.9 | 130.6 | 118.5 | 128.9 |
| EBIT 1 | - | - | 56.49 | 58.12 | 114.6 | 61.67 | 69.22 | 72.19 | 141.4 | 65.29 | 54.1 | 64.44 |
| Operating Margin | - | - | - | - | - | - | 32.06% | 29.69% | - | - | - | 30.53% |
| Earnings before Tax (EBT) 1 | - | - | 46.84 | 52.24 | 89.59 | 49.46 | 56.12 | 66.29 | 122.4 | 48.81 | 49.03 | 44.32 |
| Net income 1 | - | 28.85 | 5.957 | 39.9 | 45.85 | 35.57 | 12.78 | 50.22 | 63 | 33.21 | 52.99 | 3.697 |
| Net margin | - | - | - | - | - | - | 5.92% | 20.65% | - | - | - | 1.75% |
| EPS | - | - | - | - | - | - | - | - | - | - | - | - |
| Dividend per Share | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 7/29/21 | 3/24/22 | 5/20/22 | 7/28/22 | 7/28/22 | 11/10/22 | 4/27/23 | 7/20/23 | 7/20/23 | 11/10/23 | 3/7/24 | 5/9/24 |
1EUR in Million
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 2,826 | 2,762 | 2,367 | 2,044 | 2,749 | 2,627 | 2,608 | 2,606 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | 5.812 x | 5.874 x | 5.137 x | 4.194 x | 5.348 x | 5.216 x | 5.112 x | 5.09 x |
| Free Cash Flow 1 | 156 | 203 | 453 | 412 | -615 | 250 | 161 | 133 |
| ROE (net income / shareholders' equity) | 8.17% | 7.66% | 6.9% | 7.64% | 9.85% | 7.02% | 7.09% | 6.6% |
| ROA (Net income/ Total Assets) | 2.27% | 2.07% | 1.79% | 1.86% | 2.44% | 1.7% | 1.81% | 1.7% |
| Assets 1 | 5,248 | 5,277 | 5,421 | 6,022 | 6,117 | 6,358 | 6,014 | 6,392 |
| Book Value Per Share 2 | 2.170 | 2.100 | 2.130 | 2.290 | 2.280 | 2.290 | 2.310 | 2.300 |
| Cash Flow per Share 2 | 0.5200 | 0.5700 | 1.080 | 0.9200 | -0.5600 | 0.5400 | 0.5700 | 0.5900 |
| Capex 1 | 189 | 171 | 247 | 202 | 302 | 281 | 282 | 265 |
| Capex / Sales | 23.97% | 22.5% | 29.47% | 24.48% | 30.42% | 30.13% | 29.21% | 28.28% |
| Announcement Date | 3/25/20 | 3/23/21 | 3/24/22 | 3/7/23 | 3/7/24 | - | - | - |
1EUR in Million2EUR
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
9
Last Close Price
2.32
EUR
Average target price
2.788
EUR
Spread / Average Target
+20.15%
EPS Revisions
Quarterly revenue - Rate of surprise
| 1st Jan change | Capi. | |
|---|---|---|
| +22.90% | 150B | |
| +13.53% | 85.77B | |
| +1.26% | 80.54B | |
| +7.54% | 79.36B | |
| +0.88% | 74.01B | |
| +84.98% | 69.21B | |
| 0.00% | 49.26B | |
| +10.99% | 46.52B | |
| +8.89% | 41.7B |
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- Financials REN - Redes Energéticas Nacionais, SGPS, S.A.
