We are maintaining our EUR 7.50 fair value estimate after Enel released final 2023 results, including EBITDA and net income that were in line with revised upward November guidance.
Enel's diversified profile and leadership positioning in renewables and networks offers solid and visible earnings growth.
The political appointment of Flavio Cattaneo as the new CEO in May 2023 reflects questioning governance and increases uncertainty regarding the future strategy.
|
Metric
|
ENEL
|
IBE
|
RWE
|
|---|---|---|---|
Price/Earnings (Normalized) | 9.41 | 15.04 | 13.68 |
Price/Book Value | 1.86 | 1.59 | 0.73 |
Price/Sales | 0.67 | 1.44 | 0.81 |
Price/Cash Flow | 4.09 | 6.94 | 33.26 |
|
Metric
|
ENEL
|
IBE
|
RWE
|
|---|---|---|---|
Quick Ratio | 0.64 | 0.49 | 0.67 |
Current Ratio | 0.89 | 0.82 | 1.58 |
Interest Coverage | 4.77 | 4.14 | 2.96 |
|
Metric
|
ENEL
|
IBE
|
RWE
|
|---|---|---|---|
Return on Assets (Normalized) | 3.34% | 3.96% | 3.84% |
Return on Equity (Normalized) | 27.85% | 12.48% | 14.38% |
Return on Invested Capital (Normalized) | 7.21% | 6.41% | 7.64% |
|
Ticker
|
Name
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|
IBDSF
| Iberdrola SA | — | Mfw | $75.4 Bil | |
IBDRY
| Iberdrola SA ADR | NGK | Xsm | $75.4 Bil | |
ESOCF
| Enel SpA | Xrmvshprw | Mkrr | $63.2 Bil | |
ENLAY
| Enel SpA ADR | Fswqqvqhk | Bvfb | $63.2 Bil | |
SRE
| Sempra | Dmqpwzcsw | Bwbrxs | $43.1 Bil | |
ENGIY
| Engie SA ADR | — | Vqr | $40.7 Bil | |
ENGQF
| Engie SA | — | Hrgrv | $40.7 Bil | |
ENAKF
| E.ON SE | — | Wqzq | $34.9 Bil | |
EONGY
| E.ON SE ADR | Kxflfwvm | Mdyhp | $34.3 Bil | |
AES
| The AES Corp | Tnpdpzlfn | Gzjt | $11.5 Bil |
