E.On transformed itself in 2016 by spinning off Uniper, its commodities and power generation business, and ultimately selling its stake in Uniper to Fortum in January 2018 for EUR 3.7 billion. This deal refocused E.On on networks, retail, and renewables.
Rising interest could lead to an increase in networks' allowed returns in future regulatory periods, implying upside to the guidance.
The rationale of the deal with RWE is poor, owing to full exposure to networks and retail. The former is very capital-intensive while the latter is damped by fierce competition and spiraling energy costs that are challenging to pass through.
|
Metric
|
EOAN
|
IBE
|
CNA
|
|---|---|---|---|
Price/Earnings (Normalized) | 8.57 | 12.32 | 3.77 |
Price/Book Value | 2.30 | 1.35 | 1.86 |
Price/Sales | 0.35 | 1.59 | 0.28 |
Price/Cash Flow | 31.31 | 7.22 | 3.35 |
|
Metric
|
EOAN
|
IBE
|
CNA
|
|---|---|---|---|
Quick Ratio | 0.52 | 0.60 | 1.07 |
Current Ratio | 0.81 | 0.77 | 1.44 |
Interest Coverage | 0.88 | 4.98 | 21.27 |
|
Metric
|
EOAN
|
IBE
|
CNA
|
|---|---|---|---|
Return on Assets (Normalized) | 2.55% | 4.79% | 7.66% |
Return on Equity (Normalized) | 19.94% | 14.40% | 59.36% |
Return on Invested Capital (Normalized) | 7.33% | 7.51% | 24.74% |
|
Ticker
|
Name
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|
IBDSF
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IBDRY
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ESOCF
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SRE
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ENGIY
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ENGQF
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ENAKF
| E.ON SE | — | Vwhyb | $34.8 Bil | |
EONGY
| E.ON SE ADR | Psvfncz | Gdwz | $34.8 Bil | |
AES
| The AES Corp | Nypkhrhrc | Tbpp | $12.2 Bil |
