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Electricite de France SA EDF

Morningstar Rating
Rating as of

Morningstar’s Analysis

Valuation
Currency in EUR
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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Higher Nuclear Output Boosts EDF's 9-Month Turnover, 2021 Guidance Maintained; Shares Fairly Valued

Tancrede Fulop, CFA Senior Equity Analyst

Analyst Note

| Tancrede Fulop, CFA |

We don't expect to materially change our EUR 12.10 fair value estimate for Electricite de France after the no-moat company reported nine-month sales and reiterated its 2021 guidance. The shares look fairly valued.

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Company Profile

Business Description

Electricite de France is one of the world's largest energy companies, controlling the French power grid along with a massive global generation fleet. Its French nuclear fleet comprises 58 plants. It operates the largest power supply business in France, which acts as a broker between generators and retail end users, is a major renewable developer, and holds stakes in other energy businesses globally, including a small but growing Chinese footprint. With the acquisition of Areva's nuclear reactor unit in 2017, EDF became an integrated nuclear developer.

Contact
22-30, Avenue de Wagram
Paris, 75382, France
T +33 552081317
Sector Utilities
Industry Utilities - Diversified
Most Recent Earnings —
Fiscal Year End Dec 31, 2021
Stock Type —
Employees 161,203

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