Enel, 24% owned by the Italian government, is the largest European utility in terms of earnings. It is an integrated utility operating mainly in Italy, Spain through its subsidiary Endesa, and in Latin America. The grid business accounts for around 35% of the earnings. The rest comes from generation and supply. The power generation mix is dominated by renewables, with hydro, solar, and wind accounting for two-thirds of its capacity.
The disposal plan has materially reduced the company's leverage, which has been a historical concern for investors. The recovered financial headroom implies a potential additional share buyback.
The return to aggressive renewables expansion increases execution risk and negative exposure to higher interest rates.
|
Metric
|
ENEL
|
IBE
|
RWE
|
|---|---|---|---|
Price/Earnings (Normalized) | 24.83 | 24.69 | 13.09 |
Price/Book Value | 3.56 | 2.37 | 1.14 |
Price/Sales | 1.31 | 3.35 | 2.72 |
Price/Cash Flow | 5.83 | 11.53 | 5.84 |
|
Metric
|
ENEL
|
IBE
|
RWE
|
|---|---|---|---|
Quick Ratio | 0.47 | 0.62 | 0.69 |
Current Ratio | 0.72 | 0.75 | 1.35 |
Interest Coverage | 3.82 | 4.54 | 8.86 |
|
Metric
|
ENEL
|
IBE
|
RWE
|
|---|---|---|---|
Return on Assets (Normalized) | 3.87% | 4.15% | 3.81% |
Return on Equity (Normalized) | 28.01% | 11.96% | 11.41% |
Return on Invested Capital (Normalized) | 7.56% | 6.96% | 4.88% |
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1-Day Chart
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Name
|
Price
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|---|
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IBDRY
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ESOCF
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ENLAY
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ENGIY
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ENGQF
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RWNFF
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United States