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Corporacion Acciona Energias Renovables SA ANE

Morningstar Rating
€18.87 −0.13 (0.68%)
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Company Report

European Utilities Edged Up in Q2 on Soaring Power Prices, High Interest Rates Still a Drag

Utilities have reversed part of their first quarter’s fall, thanks to a strong rebound in power prices. Moreover, the deep undervaluation of renewables developers has driven takeovers by big investment firms at very high multiples. Neoen’s main shareholders accepted an offer at 18 times the EBITDA. The sector is still significantly lagging the market in 2024 because of high interest rates. Should they fall, it would boost the sector.

Price vs Fair Value

ANE is trading at a 880% premium.
Price
€18.87
Fair Value
€61.00
Uncertainty
Medium
1-Star Price
€91.12
5-Star Price
€61.50
Economic Moat
Dzjsv
Capital Allocation
Rbqpcmrq

Bulls Say, Bears Say

Bulls

Owning long-duration assets, Acciona Energia is favorably exposed to a decline in interest rates.

Bears

With about 40% of its capacity located in Spain, Acciona Energia has high exposure to historically negative regulation for utilities and renewables developers.

Is it the right time to buy, sell, or hold?
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Trading Information

Previous Close Price
€19.00
Day Range
€18.6219.02
52-Week Range
€18.3630.00
Bid/Ask
/
Market Cap
€6.12 Bil
Volume/Avg
388,622 / 455,871

Key Statistics

Price/Earnings (Normalized)
14.91
Price/Sales
1.74
Dividend Yield (Trailing)
2.58%
Dividend Yield (Forward)
2.58%
Total Yield
2.58%

Company Profile

A renewables developer, Acciona Energia was spun off from Spanish industrial conglomerate Acciona in July 2021. The floating share is 17.3%. At the end of 2023, the group had 12.1 gigawatts of consolidated capacity. 70% of Acciona Energia's capacity is onshore wind, nearly 7% is hydro dams in Spain and 18% is solar photovoltaic. Geographically, 44% of the capacity are located in Spain. The three biggest markets outside Spain are Mexico, the US, and Australia.
Sector
Utilities
Industry
Utilities - Renewable
Stock Style Box
Mid Core
Total Number of Employees
3,099

Competitors

Valuation

Metric
ANE
NEOEN
IBE
Price/Earnings (Normalized)
14.9165.1412.63
Price/Book Value
1.052.191.39
Price/Sales
1.7410.531.63
Price/Cash Flow
8.4819.127.40
Price/Earnings
ANE
NEOEN
IBE

Financial Strength

Metric
ANE
NEOEN
IBE
Quick Ratio
0.821.140.60
Current Ratio
1.101.260.77
Interest Coverage
6.981.984.98
Quick Ratio
ANE
NEOEN
IBE

Profitability

Metric
ANE
NEOEN
IBE
Return on Assets (Normalized)
3.50%1.05%4.79%
Return on Equity (Normalized)
8.00%3.01%14.40%
Return on Invested Capital (Normalized)
5.32%3.01%7.51%
Return on Assets
ANE
NEOEN
IBE
See how this stock stacks up to its competitors with Morningstar Investor

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