Downgraded Sector Ratings Will Limit Network Investment Upside Ahead

AN

AnalystConsensusTarget

AnalystConsensusTarget

Not Invested

Based on Analyst Price Targets

Published

07 Nov 24

Updated

13 Dec 25

Views

73

n/a

n/a

AnalystConsensusTarget's Fair Value

n/a

1Y

52.1%

7D

0.6%

Loading

1Y

52.1%

7D

0.6%

You can edit this narrative until Dec 14 4:05 PM. Then, changes will post as Updates.

Author's Valuation

€27.9411.0% overvalued

AnalystConsensusTarget Fair Value

Shared on 13 Dec 25

Fair value Increased 2.86%

ELE: Margin Normalization And Sector Rotation Will Shape Future Return Profile

Analysts have nudged their fair value estimate for Endesa higher to approximately EUR 27.94 from about EUR 27.16, reflecting slightly stronger expected revenue growth and a modestly richer future earnings multiple, even as they factor in normalizing electricity and gas margins along with a less favorable stance on traditional generators. Analyst Commentary Recent research updates signal a more cautious stance on Endesa, with several valuation frameworks resetting to reflect normalizing commodity spreads and a less favorable view on conventional generation relative to renewables focused peers.

Shared on 28 Nov 25

Fair value Increased 0.76%

ELE: Margin Normalization And Network Spending Uncertainty Will Pressure Future Returns

Analysts have lowered their price target for Endesa to €27.16 from €26.95. They cite concerns over normalizing electricity and gas margins, as well as sector rotation among European utilities.

Shared on 13 Nov 25

Fair value Increased 1.63%

ELE: Uncertainty Around Network Investment Will Limit Upside Potential

Analysts have raised their fair value price target for Endesa to €26.95 from €26.52. This reflects improved revenue growth expectations despite recent sector downgrades and ongoing uncertainty around network investment.

Shared on 29 Oct 25

Fair value Increased 2.17%

Analysts have modestly increased their fair value price target for Endesa from €25.96 to €26.52. This change reflects a balance of improved profit margin expectations with ongoing uncertainties in network investment and sector preference.

Shared on 01 May 25

Fair value Increased 3.71%

Shared on 23 Apr 25

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 17 Apr 25

Fair value Decreased 4.07%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 09 Apr 25

Fair value Increased 5.85%

Shared on 02 Apr 25

Fair value Increased 3.66%

AnalystConsensusTarget has decreased revenue growth from 8.0% to 6.8%.

Shared on 26 Mar 25

Fair value Increased 0.76%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 19 Mar 25

Fair value Decreased 9.73%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 12 Mar 25

Fair value Increased 1.66%

AnalystConsensusTarget Fair Value

€27.94

11.0% overvalued

Future estimation in

Growth p.a.

Growth p.a.

%

Decrease

Increase

Current revenue growth rate

4.58%

Electric Utilities revenue growth rate

0.16%

Risk Level (Discount Rate)

Our default considers factors like the company's size, volatility, profitablity and country of operation.

%

0

Decrease

Increase

Current discount rate

7.65%

Calculation

€2.00b

Earnings '28

x

17.32x

PE Ratio '28

=

€34.57b

Market Cap '28

€34.57b

Market Cap '28

/

992.26m

No. shares '28

=

€34.84

Share Price '28

€34.84 Share Price '28

Discounted to 2025 @ 7.65% p.a.

=

€27.93

Fair Value '25