EDP Renovaveis Earnings: Sharply Improving, 2024 Outlook Maintained, Shares Cheap
We confirm our EUR 17 fair value estimate after no-moat EDP Renovaveis released solid first-half results and confirmed its 2024 outlook. Shares appear undervalued.
EDP Renovaveis SA EDPR
Bulls Say, Bears Say
Bulls
As one of the leading renewable players in the US, EDP Renovaveis is well positioned to benefit from the Inflation Reduction Act.
Bears
Declining European wholesale power prices will weigh on earnings as of 2024.
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News
-
EDP Renewables Cuts Ribbon on Scarlet I Solar Energy Park in Fresno County, CA
-
EDPR NA Distributed Generation Acquires Renewable Properties’ Community Solar Portfolio in Illinois
-
EDP Renewables Introduces its Arkansas Solar Park in Mississippi County
-
Amazon to Source Renewable Energy From Engie-EDP Renovaveis JV
-
Eni's Plenitude Acquires Stakes in Three U.S. Solar Parks
-
EDP Renovaveis 1st Half Net Profit Fell on Lower Prices, Costs
Trading Information
- Previous Close Price
- €14.46
- Day Range
- €14.01–14.46
- 52-Week Range
- €11.91–18.73
- Bid/Ask
- €14.00 / €14.41
- Market Cap
- €14.89 Bil
- Volume/Avg
- 672,081 / 932,456
Key Statistics
- Price/Earnings (Normalized)
- 89.07
- Price/Sales
- 6.55
- Dividend Yield (Trailing)
- 1.40%
- Dividend Yield (Forward)
- 1.40%
- Total Yield
- 1.40%
Company Profile
EDP Renovaveis, a 71%-owned subsidiary of integrated Portuguese utility EDP, was created in 2007. It builds, develops, and operates renewables plants, mostly wind and solar. With 16.6 GW of net installed capacity at the end of 2023, EDP Renovaveis is the fourth-largest renewables player in the world and the third-largest in the US and Europe. The group’s plants are mainly located in the US, Spain, Portugal, Poland, and Brazil.
- Sector
- Utilities
- Industry
- Utilities - Renewable
- Stock Style Box
- Large Growth
- Total Number of Employees
- 3,076
- Website
- http://www.edpr.com
Competitors
Valuation
|
Metric
|
EDPR
|
ORSTED
|
ANE
|
|---|---|---|---|
Price/Earnings (Normalized) | 89.07 | 8.91 | 14.93 |
Price/Book Value | 1.35 | 2.90 | 1.06 |
Price/Sales | 6.55 | 3.21 | 1.74 |
Price/Cash Flow | 22.54 | 14.61 | 8.49 |
Price/Earnings
EDPR
ORSTED
ANE
Financial Strength
|
Metric
|
EDPR
|
ORSTED
|
ANE
|
|---|---|---|---|
Quick Ratio | 0.47 | 1.02 | 0.82 |
Current Ratio | 0.66 | 1.37 | 1.10 |
Interest Coverage | 1.85 | −3.35 | 6.98 |
Quick Ratio
EDPR
ORSTED
ANE
Profitability
|
Metric
|
EDPR
|
ORSTED
|
ANE
|
|---|---|---|---|
Return on Assets (Normalized) | 1.08% | −2.42% | 3.50% |
Return on Equity (Normalized) | 2.97% | −10.60% | 8.00% |
Return on Invested Capital (Normalized) | 3.35% | −2.73% | 5.32% |
Return on Assets
EDPR
ORSTED
ANE
Utilities - Renewable Industry Comparables
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| — | Fxm | $16.2 Bil | |||
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