Iberdrola SA
IBE: XMAD (ESP)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| %@ | LOCK|Js | LOCK|lP@y%Jf |
Iberdrola Earnings: 2025 Guidance Set Above Our Expectations
We confirm our EUR 12.70 fair value estimate after no-moat Iberdrola released 2024 results in line with guidance and set 2025 guidance above our expectations. It will pay a 2024 dividend of EUR 0.635, 15% above last year and implying a 4.6% yield. We appreciate the group's strong track record and assets quality, but there is not enough margin of safety to buy the shares at the current price.
