View ValuationCEZ a. s 将来の成長Future 基準チェック /06CEZ a. sの収益と利益は、それぞれ年間2.3%と0.8%減少すると予測されています。EPS は年間0.4%で 増加すると予想されています。自己資本利益率は 3 年後に11.1%になると予測されています。主要情報-0.8%収益成長率0.42%EPS成長率Electric Utilities 収益成長7.7%収益成長率-2.3%将来の株主資本利益率11.11%アナリストカバレッジGood最終更新日20 May 2026今後の成長に関する最新情報更新なしすべての更新を表示Recent updatesReported Earnings • May 20First quarter 2026 earnings released: EPS: Kč25.10 (vs Kč23.70 in 1Q 2025)First quarter 2026 results: EPS: Kč25.10 (up from Kč23.70 in 1Q 2025). Revenue: Kč84.4b (down 9.0% from 1Q 2025). Net income: Kč13.5b (up 6.3% from 1Q 2025). Profit margin: 16% (up from 14% in 1Q 2025). The increase in margin was driven by lower expenses. Revenue is expected to decline by 2.2% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to grow by 3.5%. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings.Board Change • May 20No independent directorsThere is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 7 highly experienced directors. No independent directors (7 non-independent directors). Head of Legal Affairs & Executive Director Ondrej Landa was the last director to join the board, commencing their role in 2026. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.お知らせ • May 07CEZ, a. s. to Report Q1, 2026 Results on May 14, 2026CEZ, a. s. announced that they will report Q1, 2026 results at 7:00 AM, Central European Standard Time on May 14, 2026お知らせ • Apr 29CEZ, a. s., Annual General Meeting, Jun 01, 2026CEZ, a. s., Annual General Meeting, Jun 01, 2026.Reported Earnings • Apr 29Full year 2025 earnings released: EPS: Kč52.36 (vs Kč54.33 in FY 2024)Full year 2025 results: EPS: Kč52.36 (down from Kč54.33 in FY 2024). Revenue: Kč330.7b (down 2.9% from FY 2024). Net income: Kč28.1b (down 3.6% from FY 2024). Profit margin: 8.5% (in line with FY 2024). Revenue is expected to decline by 2.3% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to grow by 3.6%. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.Buy Or Sell Opportunity • Apr 15Now 34% undervaluedThe stock has been flat over the last 90 days, currently trading at Kč498. The fair value is estimated to be Kč754, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.2% over the last 3 years. Earnings per share has declined by 45%. For the next 3 years, revenue is forecast to decline by 2.4% per annum. Earnings are forecast to grow by 2.2% per annum over the same time period.Buy Or Sell Opportunity • Mar 31Now 35% undervaluedThe stock has been flat over the last 90 days, currently trading at Kč498. The fair value is estimated to be Kč768, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.2% over the last 3 years. Earnings per share has declined by 45%. For the next 3 years, revenue is forecast to decline by 2.2% per annum. Earnings are forecast to grow by 2.2% per annum over the same time period.Board Change • Mar 20No independent directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 7 highly experienced directors. No independent directors (7 non-independent directors). Member of Supervisory Board Vaclav Kucera was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.Board Change • Feb 20No independent directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 7 highly experienced directors. No independent directors (7 non-independent directors). Member of Supervisory Board Vaclav Kucera was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.お知らせ • Dec 12+ 1 more updateCEZ, a. s. to Report Fiscal Year 2025 Results on Apr 30, 2026CEZ, a. s. announced that they will report fiscal year 2025 results at 9:15 AM, Central European Standard Time on Apr 30, 2026Board Change • Dec 09No independent directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 6 highly experienced directors. No independent directors (7 non-independent directors). Member of Supervisory Board Jirí Kadrnka was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.Board Change • Sep 30No independent directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 6 highly experienced directors. No independent directors (7 non-independent directors). Member of Supervisory Board Jirí Kadrnka was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.Buy Or Sell Opportunity • Aug 15Now 27% undervaluedThe stock has been flat over the last 90 days, currently trading at Kč498. The fair value is estimated to be Kč678, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.8% over the last 3 years. Earnings per share has declined by 49%. Revenue is forecast to decline by 15% in 2 years. Earnings are forecast to grow by 33% in the next 2 years.Board Change • Aug 14No independent directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 6 highly experienced directors. No independent directors (7 non-independent directors). Member of Supervisory Board Jirí Kadrnka was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.Reported Earnings • Aug 09Second quarter 2025 earnings released: EPS: Kč7.40 (vs Kč14.03 in 2Q 2024)Second quarter 2025 results: EPS: Kč7.40 (down from Kč14.03 in 2Q 2024). Revenue: Kč74.2b (up 3.4% from 2Q 2024). Net income: Kč3.99b (down 47% from 2Q 2024). Profit margin: 5.4% (down from 11% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 5.2% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to grow by 2.9%. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings.Buy Or Sell Opportunity • Jul 29Now 28% undervaluedThe stock has been flat over the last 90 days, currently trading at Kč498. The fair value is estimated to be Kč695, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has declined by 22%. Revenue is forecast to decline by 15% in 2 years. Earnings are forecast to grow by 27% in the next 2 years.Buy Or Sell Opportunity • Jul 14Now 30% undervalued after recent price dropOver the last 90 days, the stock has fallen 57% to Kč498. The fair value is estimated to be Kč710, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has declined by 22%. Revenue is forecast to decline by 15% in 2 years. Earnings are forecast to grow by 30% in the next 2 years.Buy Or Sell Opportunity • Jun 27Now 29% undervalued after recent price dropOver the last 90 days, the stock has fallen 54% to Kč498. The fair value is estimated to be Kč702, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has declined by 22%. Revenue is forecast to decline by 14% in 2 years. Earnings are forecast to grow by 30% in the next 2 years.Board Change • Jun 26No independent directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 6 highly experienced directors. No independent directors (7 non-independent directors). Member of Supervisory Board Jirí Kadrnka was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.お知らせ • Jun 25CEZ, a. s. announces Annual dividend, payable on August 01, 2025CEZ, a. s. announced Annual dividend of CZK 47.0000 per share payable on August 01, 2025, ex-date on June 26, 2025 and record date on June 27, 2025.Buy Or Sell Opportunity • Jun 10Now 29% undervaluedThe stock has been flat over the last 90 days, currently trading at Kč498. The fair value is estimated to be Kč701, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has declined by 22%. Revenue is forecast to decline by 14% in 2 years. Earnings are forecast to grow by 30% in the next 2 years.Buy Or Sell Opportunity • May 26Now 28% undervalued after recent price dropOver the last 90 days, the stock has fallen 51% to Kč498. The fair value is estimated to be Kč695, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has declined by 22%. Revenue is forecast to decline by 15% in 2 years. Earnings are forecast to grow by 25% in the next 2 years.お知らせ • May 23CEZ, a. s., Annual General Meeting, Jun 23, 2025CEZ, a. s., Annual General Meeting, Jun 23, 2025, at 09:00 Central European Standard Time.Board Change • May 23No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Member of Supervisory Board Jirí Kadrnka was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.お知らせ • Apr 18Veolia Environnement SA (ENXTPA:VIE) completed the acquisition of an additional 15% stake in Veolia Energie CR, a.s. from CEZ, a. s. (SEP:CEZ).Veolia Environnement SA (ENXTPA:VIE) concluded an agreement to acquire an additional 15% stake in Veolia Energie CR, a.s. from CEZ, a. s. (SEP:CEZ) on February 4, 2025. The settlement of the transaction is subject to assessment by the Ministry of Industry and Trade of the Czech Republic and is expected in April or May this year. Veolia Environnement SA (ENXTPA:VIE) completed the acquisition of an additional 15% stake in Veolia Energie CR, a.s. from CEZ, a. s. (SEP:CEZ) on April 17, 2025. The transaction has approved by the Ministry of Industry and Trade of the Czech Republic.Board Change • Mar 21No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Member of Supervisory Board Jirí Kadrnka was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.お知らせ • Feb 18CEZ, a. s. (SEP:CEZ) acquired Kabelová Televize Cz s.r.o. for approximately CZK 180 million.CEZ, a. s. (SEP:CEZ) acquired Kabelová Televize Cz s.r.o. for approximately CZK 180 million on May 31, 2022. A cash consideration of CZK 176 million will be paid by CEZ, a. s. As part of consideration, CZK 176 million is paid towards common equity of Kabelová Televize Cz s.r.o. CEZ, a. s. (SEP:CEZ) completed the acquisition of Kabelová Televize Cz s.r.o. for approximately CZK 180 million on May 31, 2022.Buy Or Sell Opportunity • Feb 17Now 34% undervaluedThe stock has been flat over the last 90 days, currently trading at Kč498. The fair value is estimated to be Kč752, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 3.7% per annum. Earnings are forecast to grow by 11% per annum over the same time period.お知らせ • Jan 03+ 5 more updatesCEZ, a. s. to Report Q1, 2025 Results on May 15, 2025CEZ, a. s. announced that they will report Q1, 2025 results on May 15, 2025お知らせ • Oct 08CEZ, a. s. (SEP:CEZ) acquired unknown minority stake in Rolls-Royce SMR Ltd.CEZ, a. s. (SEP:CEZ) acquired unknown minority stake in Rolls-Royce SMR Ltd on October 7, 2024. CEZ, a. s. (SEP:CEZ) completed the acquisition of unknown minority stake in Rolls-Royce SMR Ltd on October 7, 2024.Board Change • Sep 10No independent directorsThere are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: No independent directors. 7 non-independent directors. Member of Supervisory Board Jirí Kadrnka was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity.お知らせ • Aug 29CEZ, a. s. (SEP:CEZ) completed the acquisition of 55.21% stake in Czech Grid Holding, a.s. from Macquarie Asset Management Inc.CEZ, a. s. (SEP:CEZ) agreed to acquire 55.21% stake in Czech Grid Holding, a.s. from Macquarie Asset Management Inc. for €846.5 million on March 20, 2024.The purchase price will be financed with a bridge loan underwritten by a syndicate of commercial banks, with a subsequent refinancing facilitated via the bond market. A loan agreement of €840 million has been signed by CEZ with seven banks including Barclays Bank; CaixaBank, Polish Branch; Citibank, London Branch; Commerzbank Aktiengesellschaft, Intesa Sanpaolo IMI-CIB, Komercni banka, and SMBC Bank EU. The completion of the transaction is subject to approvals by the European Commission and the Czech Ministry of Industry and Trade. The transaction is expected to reach financial close in Q3 2024. Morgan Stanley Australia Securities Limited acted as financial advisor to Macquarie Asset Management Inc. Jan Skuhravy of Allen & Overy acted as legal advisor to Macquarie Asset Management. Roman Janecek, Jiri Kindl, and Pavel Grim of Skils acted as legal advisor to CEZ. CEZ, a. s. (SEP:CEZ) completed the acquisition of 55.21% stake in Czech Grid Holding, a.s. from Macquarie Asset Management Inc. on August 29, 2024. The transaction has already been approved by the Czech Ministry of Industry and Trade and the European Commission.New Risk • Aug 10New minor risk - Financial positionThe company has a high level of debt. Net debt to equity ratio: 47% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Dividend is not well covered by earnings and cash flows. Payout ratio: 98% Cash payout ratio: 116% Minor Risks High level of debt (47% net debt to equity). Profit margins are more than 30% lower than last year (8.6% net profit margin).Reported Earnings • Aug 09Second quarter 2024 earnings released: EPS: Kč14.10 (vs Kč21.31 in 2Q 2023)Second quarter 2024 results: EPS: Kč14.10 (down from Kč21.31 in 2Q 2023). Revenue: Kč74.3b (down 2.0% from 2Q 2023). Net income: Kč7.56b (down 34% from 2Q 2023). Profit margin: 10% (down from 15% in 2Q 2023). The decrease in margin was primarily driven by higher expenses. Revenue is expected to decline by 3.0% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to grow by 1.2%. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • Jul 22Investor sentiment deteriorates as stock falls 43%After last week's 43% share price decline to Kč498, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 13x in the Electric Utilities industry in Europe. Total returns to shareholders of 8.7% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč440 per share.Valuation Update With 7 Day Price Move • Jun 17Investor sentiment deteriorates as stock falls 47%After last week's 47% share price decline to Kč498, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 12x in the Electric Utilities industry in Europe. Total returns to shareholders of 4.8% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč575 per share.Valuation Update With 7 Day Price Move • May 31Investor sentiment deteriorates as stock falls 45%After last week's 45% share price decline to Kč498, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 12x in the Electric Utilities industry in Europe. Total returns to shareholders of 4.6% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč577 per share.お知らせ • May 26CEZ, a. s., Annual General Meeting, Jun 24, 2024CEZ, a. s., Annual General Meeting, Jun 24, 2024, at 09:00 Central European Standard Time.New Risk • May 17New minor risk - Financial positionThe company has a high level of debt. Net debt to equity ratio: 48% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 134% Cash payout ratio: 145% Earnings are forecast to decline by an average of 1.4% per year for the foreseeable future. Minor Risks High level of debt (48% net debt to equity). Profit margins are more than 30% lower than last year (9.8% net profit margin).Reported Earnings • May 15First quarter 2024 earnings released: EPS: Kč25.20 (vs Kč20.10 in 1Q 2023)First quarter 2024 results: EPS: Kč25.20 (up from Kč20.10 in 1Q 2023). Revenue: Kč87.4b (down 3.9% from 1Q 2023). Net income: Kč13.5b (up 26% from 1Q 2023). Profit margin: 16% (up from 12% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to decline by 3.4% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth.Board Change • May 14No independent directorsThere are 6 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 6 new directors. 1 experienced director. 5 highly experienced directors. No independent directors (7 non-independent directors). Chairman & CEO Daniel Benes is the most experienced director on the board, commencing their role in 2005. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors.New Risk • Mar 24New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 1.4% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.4% per year for the foreseeable future. Minor Risks High level of debt (60% net debt to equity). Dividend is not well covered by earnings (134% payout ratio). Profit margins are more than 30% lower than last year (8.8% net profit margin).Reported Earnings • Mar 24Full year 2023 earnings released: EPS: Kč55.00 (vs Kč151 in FY 2022)Full year 2023 results: EPS: Kč55.00 (down from Kč151 in FY 2022). Revenue: Kč336.8b (up 18% from FY 2022). Net income: Kč29.5b (down 64% from FY 2022). Profit margin: 8.8% (down from 28% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to decline by 4.1% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth.お知らせ • Mar 21CEZ, a. s. (SEP:CEZ) agreed to acquire 55.21% stake in Czech Grid Holding, a.s. from Macquarie Asset Management Inc. for an enterprise value of €4 billion.CEZ, a. s. (SEP:CEZ) agreed to acquire 55.21% stake in Czech Grid Holding, a.s. from Macquarie Asset Management Inc. for an enterprise value of €4 billion on March 20, 2024. The transaction is expected to reach financial close in Q3 2024.Buy Or Sell Opportunity • Feb 02Now 30% undervalued after recent price dropOver the last 90 days, the stock has fallen 50% to Kč498. The fair value is estimated to be Kč713, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 82%. For the next 3 years, revenue is forecast to grow by 0.2% per annum. Earnings are forecast to decline by 8.8% per annum over the same time period.お知らせ • Jan 05+ 4 more updatesCEZ, a. s. to Report Nine Months, 2024 Results on Nov 12, 2024CEZ, a. s. announced that they will report nine months, 2024 results on Nov 12, 2024Valuation Update With 7 Day Price Move • Dec 12Investor sentiment deteriorates as stock falls 49%After last week's 49% share price decline to Kč498, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 12x in the Electric Utilities industry in Europe. Total returns to shareholders of 42% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč543 per share.Valuation Update With 7 Day Price Move • Nov 27Investor sentiment deteriorates as stock falls 50%After last week's 50% share price decline to Kč498, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 12x in the Electric Utilities industry in Europe. Total returns to shareholders of 42% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč403 per share.Reported Earnings • Nov 10Third quarter 2023 earnings released: EPS: Kč14.00 (vs Kč34.80 in 3Q 2022)Third quarter 2023 results: EPS: Kč14.00 (down from Kč34.80 in 3Q 2022). Revenue: Kč76.8b (down 4.0% from 3Q 2022). Net income: Kč7.53b (down 60% from 3Q 2022). Profit margin: 9.8% (down from 23% in 3Q 2022). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 4.1% decline forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • Nov 08Investor sentiment deteriorates as stock falls 50%After last week's 50% share price decline to Kč498, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 12x in the Electric Utilities industry in Europe. Total returns to shareholders of 51% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč384 per share.お知らせ • Oct 25CEZ, a. s. to Report Q3, 2023 Results on Nov 09, 2023CEZ, a. s. announced that they will report Q3, 2023 results at 7:00 AM, Central European Standard Time on Nov 09, 2023Valuation Update With 7 Day Price Move • Oct 19Investor sentiment deteriorates as stock falls 49%After last week's 49% share price decline to Kč498, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 12x in the Electric Utilities industry in Europe. Total returns to shareholders of 51% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč384 per share.Valuation Update With 7 Day Price Move • Sep 25Investor sentiment deteriorates as stock falls 48%After last week's 48% share price decline to Kč498, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 13x in the Electric Utilities industry in Europe. Total loss to shareholders of 38% over the past year. Simply Wall St's valuation model estimates the intrinsic value at Kč806 per share.Buying Opportunity • Sep 19Now 39% undervalued after recent price dropOver the last 90 days, the stock is down 52%. The fair value is estimated to be Kč811, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 84%. For the next 3 years, revenue is forecast to grow by 1.1% per annum. Earnings is forecast to decline by 11% per annum over the same time period.Valuation Update With 7 Day Price Move • Sep 08Investor sentiment deteriorates as stock falls 48%After last week's 48% share price decline to Kč498, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 12x in the Electric Utilities industry in Europe. Total returns to shareholders of 39% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč831 per share.Buying Opportunity • Aug 25Now 41% undervalued after recent price dropOver the last 90 days, the stock is down 51%. The fair value is estimated to be Kč840, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 84%. For the next 3 years, revenue is forecast to grow by 0.5% per annum. Earnings is forecast to decline by 19% per annum over the same time period.Valuation Update With 7 Day Price Move • Aug 17Investor sentiment deteriorates as stock falls 48%After last week's 48% share price decline to Kč498, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 13x in the Electric Utilities industry in Europe. Total returns to shareholders of 39% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč850 per share.Reported Earnings • Aug 13Second quarter 2023 earnings released: EPS: Kč21.30 (vs Kč12.90 in 2Q 2022)Second quarter 2023 results: EPS: Kč21.30 (up from Kč12.90 in 2Q 2022). Revenue: Kč76.3b (up 40% from 2Q 2022). Net income: Kč11.5b (up 66% from 2Q 2022). Profit margin: 15% (up from 13% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 3.9% decline forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth.Buying Opportunity • Aug 09Now 42% undervalued after recent price dropOver the last 90 days, the stock is down 59%. The fair value is estimated to be Kč856, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 79%. For the next 3 years, revenue is forecast to grow by 2.3% per annum. Earnings is forecast to decline by 18% per annum over the same time period.お知らせ • Aug 03CEZ, a. s. to Report Q2, 2023 Results on Aug 10, 2023CEZ, a. s. announced that they will report Q2, 2023 results at 7:00 AM, Central European Standard Time on Aug 10, 2023Valuation Update With 7 Day Price Move • Jul 28Investor sentiment deteriorates as stock falls 45%After last week's 45% share price decline to Kč498, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 14x in the Electric Utilities industry in Europe. Total returns to shareholders of 38% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč723 per share.Buying Opportunity • Jul 25Now 34% undervalued after recent price dropOver the last 90 days, the stock is down 56%. The fair value is estimated to be Kč757, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 79%. For the next 3 years, revenue is forecast to grow by 2.3% per annum. Earnings is forecast to decline by 18% per annum over the same time period.Valuation Update With 7 Day Price Move • Jul 13Investor sentiment deteriorates as stock falls 45%After last week's 45% share price decline to Kč498, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 13x in the Electric Utilities industry in Europe. Total returns to shareholders of 38% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč551 per share.Upcoming Dividend • Jun 22Upcoming dividend of Kč117 per share at 11% yieldEligible shareholders must have bought the stock before 29 June 2023. Payment date: 01 August 2023. Payout ratio is on the higher end at 97%, and the cash payout ratio is above 100%. Trailing yield: 11%. Within top quartile of British dividend payers (5.8%). Higher than average of industry peers (4.9%).Valuation Update With 7 Day Price Move • Jun 19Investor sentiment deteriorates as stock falls 52%After last week's 52% share price decline to Kč498, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 15x in the Electric Utilities industry in Europe. Total returns to shareholders of 27% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč509 per share.Valuation Update With 7 Day Price Move • May 31Investor sentiment deteriorates as stock falls 51%After last week's 51% share price decline to Kč498, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 14x in the Electric Utilities industry in Europe. Total returns to shareholders of 27% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč514 per share.お知らせ • May 12CEZ, a. s., Annual General Meeting, Jun 26, 2023CEZ, a. s., Annual General Meeting, Jun 26, 2023.Reported Earnings • May 12First quarter 2023 earnings released: EPS: Kč20.10 (vs Kč49.83 in 1Q 2022)First quarter 2023 results: EPS: Kč20.10 (down from Kč49.83 in 1Q 2022). Revenue: Kč93.4b (up 25% from 1Q 2022). Net income: Kč10.8b (down 60% from 1Q 2022). Profit margin: 12% (down from 36% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 3.5% decline forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth.お知らせ • May 10CEZ, a. s. to Report Q1, 2023 Results on May 11, 2023CEZ, a. s. announced that they will report Q1, 2023 results at 7:00 AM, Central European Standard Time on May 11, 2023Valuation Update With 7 Day Price Move • May 09Investor sentiment deteriorates as stock falls 57%After last week's 57% share price decline to Kč498, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 15x in the Electric Utilities industry in Europe. Total returns to shareholders of 27% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč485 per share.Valuation Update With 7 Day Price Move • Apr 14Investor sentiment deteriorates as stock falls 54%After last week's 54% share price decline to Kč498, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 14x in the Electric Utilities industry in Europe. Total returns to shareholders of 43% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč486 per share.Valuation Update With 7 Day Price Move • Mar 31Investor sentiment improves as stock rises 102%After last week's 102% share price gain to Kč1,008, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 13x in the Electric Utilities industry in Europe. Total returns to shareholders of 193% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč1,159 per share.Reported Earnings • Mar 25Full year 2022 earnings released: EPS: Kč151 (vs Kč18.26 in FY 2021)Full year 2022 results: EPS: Kč151 (up from Kč18.26 in FY 2021). Revenue: Kč285.5b (up 27% from FY 2021). Net income: Kč80.8b (up Kč71.0b from FY 2021). Profit margin: 28% (up from 4.4% in FY 2021). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 5.2% decline forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth.Valuation Update With 7 Day Price Move • Mar 15Investor sentiment deteriorates as stock falls 50%After last week's 50% share price decline to Kč498, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 12x in the Electric Utilities industry in Europe. Total returns to shareholders of 45% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč581 per share.Valuation Update With 7 Day Price Move • Feb 23Investor sentiment deteriorates as stock falls 51%After last week's 51% share price decline to Kč498, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 12x in the Electric Utilities industry in Europe. Total returns to shareholders of 33% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč535 per share.Buying Opportunity • Feb 07Now 23% undervalued after recent price dropOver the last 90 days, the stock is down 41%. The fair value is estimated to be Kč647, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.2% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 0.4% per annum. Earnings is also forecast to decline by 20% per annum over the same time period.Buying Opportunity • Jan 23Now 38% undervalued after recent price dropOver the last 90 days, the stock is down 36%. The fair value is estimated to be Kč804, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.2% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 0.6% per annum. Earnings is also forecast to decline by 20% per annum over the same time period.お知らせ • Jan 04+ 1 more updateCEZ, a. s. to Report First Half, 2023 Results on Aug 31, 2023CEZ, a. s. announced that they will report first half, 2023 results on Aug 31, 2023Valuation Update With 7 Day Price Move • Dec 13Investor sentiment deteriorated over the past weekAfter last week's 36% share price decline to Kč498, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 13x in the Electric Utilities industry in Europe. Total returns to shareholders of 21% over the past three years.Valuation Update With 7 Day Price Move • Nov 24Investor sentiment deteriorated over the past weekAfter last week's 39% share price decline to Kč498, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 14x in the Electric Utilities industry in Europe. Total returns to shareholders of 18% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč912 per share.Buying Opportunity • Nov 21Now 51% undervalued after recent price dropOver the last 90 days, the stock is down 51%. The fair value is estimated to be Kč1,018, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.2% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 3.5% per annum. Earnings is forecast to decline by 16% per annum over the same time period.Reported Earnings • Nov 16Third quarter 2022 earnings released: EPS: Kč34.80 (vs Kč9.60 in 3Q 2021)Third quarter 2022 results: EPS: Kč34.80 (up from Kč9.60 in 3Q 2021). Revenue: Kč79.9b (up 71% from 3Q 2021). Net income: Kč18.7b (up 265% from 3Q 2021). Profit margin: 23% (up from 11% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to remain flat.Board Change • Nov 16No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Vice Chairman of Supervisory Board Roman Binder was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.Valuation Update With 7 Day Price Move • Oct 24Investor sentiment deteriorated over the past weekAfter last week's 34% share price decline to Kč498, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 13x in the Electric Utilities industry in Europe. Total returns to shareholders of 25% over the past three years.業績と収益の成長予測LSE:0NZF - アナリストの将来予測と過去の財務データ ( )CZK Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数12/31/2028290,18728,14035,00989,198412/31/2027296,92530,18518,52388,205912/31/2026305,02434,46933,751102,78193/31/2026322,30328,90210,19479,525N/A12/31/2025330,68528,1071,47764,193N/A9/30/2025338,01728,11617,30480,471N/A6/30/2025346,18824,76141,787102,451N/A3/31/2025346,36028,33258,851116,846N/A12/31/2024340,51329,16370,319124,435N/A9/30/2024334,35123,01360,995113,082N/A6/30/2024330,11128,38723,43072,660N/A3/31/2024330,76432,28653,16899,406N/A12/31/2023336,76729,52492,726138,203N/A9/30/2023319,90858,20988,027125,789N/A6/30/2023324,25969,38259,71398,020N/A3/31/2023303,88964,84913,86950,732N/A12/31/2022285,53380,786-28,8565,092N/A9/30/2022280,46455,5709,28846,113N/A6/30/2022246,74041,99243,91277,276N/A3/31/2022241,97428,09655,40287,059N/A12/31/2021225,0149,79126,93059,156N/A9/30/2021210,583-1,26314,23246,206N/A6/30/2021212,176-7,56633,00864,595N/A3/31/2021211,1863732,58864,519N/A12/31/2020209,6455,43840,59972,157N/A9/30/2020209,34114,19623,82654,446N/A6/30/2020208,13215,45715,92746,132N/A3/31/2020206,96418,3546,81636,397N/A12/31/2019201,90714,373N/A42,931N/A9/30/2019196,82514,774N/A39,352N/A6/30/2019194,54316,171N/A42,184N/A3/31/2019186,86313,030N/A37,913N/A12/31/2018181,48710,327N/A35,351N/A9/30/2018184,78611,656N/A46,183N/A6/30/2018185,3039,960N/A43,325N/A3/31/2018192,32317,317N/A50,297N/A12/31/2017199,10718,765N/A45,812N/A9/30/2017202,52015,939N/A44,640N/A6/30/2017202,77716,966N/A46,657N/A3/31/2017203,16112,974N/A46,469N/A12/31/2016202,09614,281N/A48,953N/A9/30/2016200,76818,519N/A63,282N/A6/30/2016202,41018,993N/A69,796N/A3/31/2016204,47323,100N/A72,657N/A12/31/2015206,82120,739N/A72,579N/A9/30/2015201,45219,252N/A61,376N/A6/30/2015199,90620,506N/A62,902N/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: 0NZFの収益は今後 3 年間で減少すると予測されています (年間-0.8% )。収益対市場: 0NZFの収益は今後 3 年間で減少すると予測されています (年間-0.8% )。高成長収益: 0NZFの収益は今後 3 年間で減少すると予測されています。収益対市場: 0NZFの収益は今後 3 年間で減少すると予想されています (年間-2.3% )。高い収益成長: 0NZFの収益は今後 3 年間で減少すると予測されています (年間-2.3% )。一株当たり利益成長率予想将来の株主資本利益率将来のROE: 0NZFの 自己資本利益率 は、3年後には低くなると予測されています ( 11.1 %)。成長企業の発掘7D1Y7D1Y7D1YUtilities 業界の高成長企業。View Past Performance企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/25 18:02終値2026/05/18 00:00収益2026/03/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋CEZ, a. s. 9 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。32 アナリスト機関Kamil KliszczBiuro maklerskie mBankuOlivier Van DoosselaereBNP ParibasBenjamin LeyreBNP Paribas29 その他のアナリストを表示
Reported Earnings • May 20First quarter 2026 earnings released: EPS: Kč25.10 (vs Kč23.70 in 1Q 2025)First quarter 2026 results: EPS: Kč25.10 (up from Kč23.70 in 1Q 2025). Revenue: Kč84.4b (down 9.0% from 1Q 2025). Net income: Kč13.5b (up 6.3% from 1Q 2025). Profit margin: 16% (up from 14% in 1Q 2025). The increase in margin was driven by lower expenses. Revenue is expected to decline by 2.2% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to grow by 3.5%. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings.
Board Change • May 20No independent directorsThere is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 7 highly experienced directors. No independent directors (7 non-independent directors). Head of Legal Affairs & Executive Director Ondrej Landa was the last director to join the board, commencing their role in 2026. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.
お知らせ • May 07CEZ, a. s. to Report Q1, 2026 Results on May 14, 2026CEZ, a. s. announced that they will report Q1, 2026 results at 7:00 AM, Central European Standard Time on May 14, 2026
お知らせ • Apr 29CEZ, a. s., Annual General Meeting, Jun 01, 2026CEZ, a. s., Annual General Meeting, Jun 01, 2026.
Reported Earnings • Apr 29Full year 2025 earnings released: EPS: Kč52.36 (vs Kč54.33 in FY 2024)Full year 2025 results: EPS: Kč52.36 (down from Kč54.33 in FY 2024). Revenue: Kč330.7b (down 2.9% from FY 2024). Net income: Kč28.1b (down 3.6% from FY 2024). Profit margin: 8.5% (in line with FY 2024). Revenue is expected to decline by 2.3% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to grow by 3.6%. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings.
Buy Or Sell Opportunity • Apr 15Now 34% undervaluedThe stock has been flat over the last 90 days, currently trading at Kč498. The fair value is estimated to be Kč754, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.2% over the last 3 years. Earnings per share has declined by 45%. For the next 3 years, revenue is forecast to decline by 2.4% per annum. Earnings are forecast to grow by 2.2% per annum over the same time period.
Buy Or Sell Opportunity • Mar 31Now 35% undervaluedThe stock has been flat over the last 90 days, currently trading at Kč498. The fair value is estimated to be Kč768, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.2% over the last 3 years. Earnings per share has declined by 45%. For the next 3 years, revenue is forecast to decline by 2.2% per annum. Earnings are forecast to grow by 2.2% per annum over the same time period.
Board Change • Mar 20No independent directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 7 highly experienced directors. No independent directors (7 non-independent directors). Member of Supervisory Board Vaclav Kucera was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.
Board Change • Feb 20No independent directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 7 highly experienced directors. No independent directors (7 non-independent directors). Member of Supervisory Board Vaclav Kucera was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.
お知らせ • Dec 12+ 1 more updateCEZ, a. s. to Report Fiscal Year 2025 Results on Apr 30, 2026CEZ, a. s. announced that they will report fiscal year 2025 results at 9:15 AM, Central European Standard Time on Apr 30, 2026
Board Change • Dec 09No independent directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 6 highly experienced directors. No independent directors (7 non-independent directors). Member of Supervisory Board Jirí Kadrnka was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.
Board Change • Sep 30No independent directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 6 highly experienced directors. No independent directors (7 non-independent directors). Member of Supervisory Board Jirí Kadrnka was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.
Buy Or Sell Opportunity • Aug 15Now 27% undervaluedThe stock has been flat over the last 90 days, currently trading at Kč498. The fair value is estimated to be Kč678, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.8% over the last 3 years. Earnings per share has declined by 49%. Revenue is forecast to decline by 15% in 2 years. Earnings are forecast to grow by 33% in the next 2 years.
Board Change • Aug 14No independent directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 6 highly experienced directors. No independent directors (7 non-independent directors). Member of Supervisory Board Jirí Kadrnka was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.
Reported Earnings • Aug 09Second quarter 2025 earnings released: EPS: Kč7.40 (vs Kč14.03 in 2Q 2024)Second quarter 2025 results: EPS: Kč7.40 (down from Kč14.03 in 2Q 2024). Revenue: Kč74.2b (up 3.4% from 2Q 2024). Net income: Kč3.99b (down 47% from 2Q 2024). Profit margin: 5.4% (down from 11% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 5.2% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to grow by 2.9%. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings.
Buy Or Sell Opportunity • Jul 29Now 28% undervaluedThe stock has been flat over the last 90 days, currently trading at Kč498. The fair value is estimated to be Kč695, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has declined by 22%. Revenue is forecast to decline by 15% in 2 years. Earnings are forecast to grow by 27% in the next 2 years.
Buy Or Sell Opportunity • Jul 14Now 30% undervalued after recent price dropOver the last 90 days, the stock has fallen 57% to Kč498. The fair value is estimated to be Kč710, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has declined by 22%. Revenue is forecast to decline by 15% in 2 years. Earnings are forecast to grow by 30% in the next 2 years.
Buy Or Sell Opportunity • Jun 27Now 29% undervalued after recent price dropOver the last 90 days, the stock has fallen 54% to Kč498. The fair value is estimated to be Kč702, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has declined by 22%. Revenue is forecast to decline by 14% in 2 years. Earnings are forecast to grow by 30% in the next 2 years.
Board Change • Jun 26No independent directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 6 highly experienced directors. No independent directors (7 non-independent directors). Member of Supervisory Board Jirí Kadrnka was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment.
お知らせ • Jun 25CEZ, a. s. announces Annual dividend, payable on August 01, 2025CEZ, a. s. announced Annual dividend of CZK 47.0000 per share payable on August 01, 2025, ex-date on June 26, 2025 and record date on June 27, 2025.
Buy Or Sell Opportunity • Jun 10Now 29% undervaluedThe stock has been flat over the last 90 days, currently trading at Kč498. The fair value is estimated to be Kč701, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has declined by 22%. Revenue is forecast to decline by 14% in 2 years. Earnings are forecast to grow by 30% in the next 2 years.
Buy Or Sell Opportunity • May 26Now 28% undervalued after recent price dropOver the last 90 days, the stock has fallen 51% to Kč498. The fair value is estimated to be Kč695, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 11% over the last 3 years. Earnings per share has declined by 22%. Revenue is forecast to decline by 15% in 2 years. Earnings are forecast to grow by 25% in the next 2 years.
お知らせ • May 23CEZ, a. s., Annual General Meeting, Jun 23, 2025CEZ, a. s., Annual General Meeting, Jun 23, 2025, at 09:00 Central European Standard Time.
Board Change • May 23No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Member of Supervisory Board Jirí Kadrnka was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.
お知らせ • Apr 18Veolia Environnement SA (ENXTPA:VIE) completed the acquisition of an additional 15% stake in Veolia Energie CR, a.s. from CEZ, a. s. (SEP:CEZ).Veolia Environnement SA (ENXTPA:VIE) concluded an agreement to acquire an additional 15% stake in Veolia Energie CR, a.s. from CEZ, a. s. (SEP:CEZ) on February 4, 2025. The settlement of the transaction is subject to assessment by the Ministry of Industry and Trade of the Czech Republic and is expected in April or May this year. Veolia Environnement SA (ENXTPA:VIE) completed the acquisition of an additional 15% stake in Veolia Energie CR, a.s. from CEZ, a. s. (SEP:CEZ) on April 17, 2025. The transaction has approved by the Ministry of Industry and Trade of the Czech Republic.
Board Change • Mar 21No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Member of Supervisory Board Jirí Kadrnka was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.
お知らせ • Feb 18CEZ, a. s. (SEP:CEZ) acquired Kabelová Televize Cz s.r.o. for approximately CZK 180 million.CEZ, a. s. (SEP:CEZ) acquired Kabelová Televize Cz s.r.o. for approximately CZK 180 million on May 31, 2022. A cash consideration of CZK 176 million will be paid by CEZ, a. s. As part of consideration, CZK 176 million is paid towards common equity of Kabelová Televize Cz s.r.o. CEZ, a. s. (SEP:CEZ) completed the acquisition of Kabelová Televize Cz s.r.o. for approximately CZK 180 million on May 31, 2022.
Buy Or Sell Opportunity • Feb 17Now 34% undervaluedThe stock has been flat over the last 90 days, currently trading at Kč498. The fair value is estimated to be Kč752, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 15% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 3.7% per annum. Earnings are forecast to grow by 11% per annum over the same time period.
お知らせ • Jan 03+ 5 more updatesCEZ, a. s. to Report Q1, 2025 Results on May 15, 2025CEZ, a. s. announced that they will report Q1, 2025 results on May 15, 2025
お知らせ • Oct 08CEZ, a. s. (SEP:CEZ) acquired unknown minority stake in Rolls-Royce SMR Ltd.CEZ, a. s. (SEP:CEZ) acquired unknown minority stake in Rolls-Royce SMR Ltd on October 7, 2024. CEZ, a. s. (SEP:CEZ) completed the acquisition of unknown minority stake in Rolls-Royce SMR Ltd on October 7, 2024.
Board Change • Sep 10No independent directorsThere are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: No independent directors. 7 non-independent directors. Member of Supervisory Board Jirí Kadrnka was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity.
お知らせ • Aug 29CEZ, a. s. (SEP:CEZ) completed the acquisition of 55.21% stake in Czech Grid Holding, a.s. from Macquarie Asset Management Inc.CEZ, a. s. (SEP:CEZ) agreed to acquire 55.21% stake in Czech Grid Holding, a.s. from Macquarie Asset Management Inc. for €846.5 million on March 20, 2024.The purchase price will be financed with a bridge loan underwritten by a syndicate of commercial banks, with a subsequent refinancing facilitated via the bond market. A loan agreement of €840 million has been signed by CEZ with seven banks including Barclays Bank; CaixaBank, Polish Branch; Citibank, London Branch; Commerzbank Aktiengesellschaft, Intesa Sanpaolo IMI-CIB, Komercni banka, and SMBC Bank EU. The completion of the transaction is subject to approvals by the European Commission and the Czech Ministry of Industry and Trade. The transaction is expected to reach financial close in Q3 2024. Morgan Stanley Australia Securities Limited acted as financial advisor to Macquarie Asset Management Inc. Jan Skuhravy of Allen & Overy acted as legal advisor to Macquarie Asset Management. Roman Janecek, Jiri Kindl, and Pavel Grim of Skils acted as legal advisor to CEZ. CEZ, a. s. (SEP:CEZ) completed the acquisition of 55.21% stake in Czech Grid Holding, a.s. from Macquarie Asset Management Inc. on August 29, 2024. The transaction has already been approved by the Czech Ministry of Industry and Trade and the European Commission.
New Risk • Aug 10New minor risk - Financial positionThe company has a high level of debt. Net debt to equity ratio: 47% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Dividend is not well covered by earnings and cash flows. Payout ratio: 98% Cash payout ratio: 116% Minor Risks High level of debt (47% net debt to equity). Profit margins are more than 30% lower than last year (8.6% net profit margin).
Reported Earnings • Aug 09Second quarter 2024 earnings released: EPS: Kč14.10 (vs Kč21.31 in 2Q 2023)Second quarter 2024 results: EPS: Kč14.10 (down from Kč21.31 in 2Q 2023). Revenue: Kč74.3b (down 2.0% from 2Q 2023). Net income: Kč7.56b (down 34% from 2Q 2023). Profit margin: 10% (down from 15% in 2Q 2023). The decrease in margin was primarily driven by higher expenses. Revenue is expected to decline by 3.0% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to grow by 1.2%. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • Jul 22Investor sentiment deteriorates as stock falls 43%After last week's 43% share price decline to Kč498, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 13x in the Electric Utilities industry in Europe. Total returns to shareholders of 8.7% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč440 per share.
Valuation Update With 7 Day Price Move • Jun 17Investor sentiment deteriorates as stock falls 47%After last week's 47% share price decline to Kč498, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 12x in the Electric Utilities industry in Europe. Total returns to shareholders of 4.8% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč575 per share.
Valuation Update With 7 Day Price Move • May 31Investor sentiment deteriorates as stock falls 45%After last week's 45% share price decline to Kč498, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 12x in the Electric Utilities industry in Europe. Total returns to shareholders of 4.6% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč577 per share.
お知らせ • May 26CEZ, a. s., Annual General Meeting, Jun 24, 2024CEZ, a. s., Annual General Meeting, Jun 24, 2024, at 09:00 Central European Standard Time.
New Risk • May 17New minor risk - Financial positionThe company has a high level of debt. Net debt to equity ratio: 48% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 134% Cash payout ratio: 145% Earnings are forecast to decline by an average of 1.4% per year for the foreseeable future. Minor Risks High level of debt (48% net debt to equity). Profit margins are more than 30% lower than last year (9.8% net profit margin).
Reported Earnings • May 15First quarter 2024 earnings released: EPS: Kč25.20 (vs Kč20.10 in 1Q 2023)First quarter 2024 results: EPS: Kč25.20 (up from Kč20.10 in 1Q 2023). Revenue: Kč87.4b (down 3.9% from 1Q 2023). Net income: Kč13.5b (up 26% from 1Q 2023). Profit margin: 16% (up from 12% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to decline by 3.4% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth.
Board Change • May 14No independent directorsThere are 6 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 6 new directors. 1 experienced director. 5 highly experienced directors. No independent directors (7 non-independent directors). Chairman & CEO Daniel Benes is the most experienced director on the board, commencing their role in 2005. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors.
New Risk • Mar 24New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 1.4% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.4% per year for the foreseeable future. Minor Risks High level of debt (60% net debt to equity). Dividend is not well covered by earnings (134% payout ratio). Profit margins are more than 30% lower than last year (8.8% net profit margin).
Reported Earnings • Mar 24Full year 2023 earnings released: EPS: Kč55.00 (vs Kč151 in FY 2022)Full year 2023 results: EPS: Kč55.00 (down from Kč151 in FY 2022). Revenue: Kč336.8b (up 18% from FY 2022). Net income: Kč29.5b (down 64% from FY 2022). Profit margin: 8.8% (down from 28% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to decline by 4.1% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 70% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth.
お知らせ • Mar 21CEZ, a. s. (SEP:CEZ) agreed to acquire 55.21% stake in Czech Grid Holding, a.s. from Macquarie Asset Management Inc. for an enterprise value of €4 billion.CEZ, a. s. (SEP:CEZ) agreed to acquire 55.21% stake in Czech Grid Holding, a.s. from Macquarie Asset Management Inc. for an enterprise value of €4 billion on March 20, 2024. The transaction is expected to reach financial close in Q3 2024.
Buy Or Sell Opportunity • Feb 02Now 30% undervalued after recent price dropOver the last 90 days, the stock has fallen 50% to Kč498. The fair value is estimated to be Kč713, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 17% over the last 3 years. Earnings per share has grown by 82%. For the next 3 years, revenue is forecast to grow by 0.2% per annum. Earnings are forecast to decline by 8.8% per annum over the same time period.
お知らせ • Jan 05+ 4 more updatesCEZ, a. s. to Report Nine Months, 2024 Results on Nov 12, 2024CEZ, a. s. announced that they will report nine months, 2024 results on Nov 12, 2024
Valuation Update With 7 Day Price Move • Dec 12Investor sentiment deteriorates as stock falls 49%After last week's 49% share price decline to Kč498, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 12x in the Electric Utilities industry in Europe. Total returns to shareholders of 42% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč543 per share.
Valuation Update With 7 Day Price Move • Nov 27Investor sentiment deteriorates as stock falls 50%After last week's 50% share price decline to Kč498, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 12x in the Electric Utilities industry in Europe. Total returns to shareholders of 42% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč403 per share.
Reported Earnings • Nov 10Third quarter 2023 earnings released: EPS: Kč14.00 (vs Kč34.80 in 3Q 2022)Third quarter 2023 results: EPS: Kč14.00 (down from Kč34.80 in 3Q 2022). Revenue: Kč76.8b (down 4.0% from 3Q 2022). Net income: Kč7.53b (down 60% from 3Q 2022). Profit margin: 9.8% (down from 23% in 3Q 2022). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 4.1% decline forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • Nov 08Investor sentiment deteriorates as stock falls 50%After last week's 50% share price decline to Kč498, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 12x in the Electric Utilities industry in Europe. Total returns to shareholders of 51% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč384 per share.
お知らせ • Oct 25CEZ, a. s. to Report Q3, 2023 Results on Nov 09, 2023CEZ, a. s. announced that they will report Q3, 2023 results at 7:00 AM, Central European Standard Time on Nov 09, 2023
Valuation Update With 7 Day Price Move • Oct 19Investor sentiment deteriorates as stock falls 49%After last week's 49% share price decline to Kč498, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 12x in the Electric Utilities industry in Europe. Total returns to shareholders of 51% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč384 per share.
Valuation Update With 7 Day Price Move • Sep 25Investor sentiment deteriorates as stock falls 48%After last week's 48% share price decline to Kč498, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 13x in the Electric Utilities industry in Europe. Total loss to shareholders of 38% over the past year. Simply Wall St's valuation model estimates the intrinsic value at Kč806 per share.
Buying Opportunity • Sep 19Now 39% undervalued after recent price dropOver the last 90 days, the stock is down 52%. The fair value is estimated to be Kč811, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 84%. For the next 3 years, revenue is forecast to grow by 1.1% per annum. Earnings is forecast to decline by 11% per annum over the same time period.
Valuation Update With 7 Day Price Move • Sep 08Investor sentiment deteriorates as stock falls 48%After last week's 48% share price decline to Kč498, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 12x in the Electric Utilities industry in Europe. Total returns to shareholders of 39% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč831 per share.
Buying Opportunity • Aug 25Now 41% undervalued after recent price dropOver the last 90 days, the stock is down 51%. The fair value is estimated to be Kč840, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 84%. For the next 3 years, revenue is forecast to grow by 0.5% per annum. Earnings is forecast to decline by 19% per annum over the same time period.
Valuation Update With 7 Day Price Move • Aug 17Investor sentiment deteriorates as stock falls 48%After last week's 48% share price decline to Kč498, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 13x in the Electric Utilities industry in Europe. Total returns to shareholders of 39% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč850 per share.
Reported Earnings • Aug 13Second quarter 2023 earnings released: EPS: Kč21.30 (vs Kč12.90 in 2Q 2022)Second quarter 2023 results: EPS: Kč21.30 (up from Kč12.90 in 2Q 2022). Revenue: Kč76.3b (up 40% from 2Q 2022). Net income: Kč11.5b (up 66% from 2Q 2022). Profit margin: 15% (up from 13% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 3.9% decline forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 26% per year, which means it is significantly lagging earnings growth.
Buying Opportunity • Aug 09Now 42% undervalued after recent price dropOver the last 90 days, the stock is down 59%. The fair value is estimated to be Kč856, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 79%. For the next 3 years, revenue is forecast to grow by 2.3% per annum. Earnings is forecast to decline by 18% per annum over the same time period.
お知らせ • Aug 03CEZ, a. s. to Report Q2, 2023 Results on Aug 10, 2023CEZ, a. s. announced that they will report Q2, 2023 results at 7:00 AM, Central European Standard Time on Aug 10, 2023
Valuation Update With 7 Day Price Move • Jul 28Investor sentiment deteriorates as stock falls 45%After last week's 45% share price decline to Kč498, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 14x in the Electric Utilities industry in Europe. Total returns to shareholders of 38% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč723 per share.
Buying Opportunity • Jul 25Now 34% undervalued after recent price dropOver the last 90 days, the stock is down 56%. The fair value is estimated to be Kč757, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 79%. For the next 3 years, revenue is forecast to grow by 2.3% per annum. Earnings is forecast to decline by 18% per annum over the same time period.
Valuation Update With 7 Day Price Move • Jul 13Investor sentiment deteriorates as stock falls 45%After last week's 45% share price decline to Kč498, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 13x in the Electric Utilities industry in Europe. Total returns to shareholders of 38% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč551 per share.
Upcoming Dividend • Jun 22Upcoming dividend of Kč117 per share at 11% yieldEligible shareholders must have bought the stock before 29 June 2023. Payment date: 01 August 2023. Payout ratio is on the higher end at 97%, and the cash payout ratio is above 100%. Trailing yield: 11%. Within top quartile of British dividend payers (5.8%). Higher than average of industry peers (4.9%).
Valuation Update With 7 Day Price Move • Jun 19Investor sentiment deteriorates as stock falls 52%After last week's 52% share price decline to Kč498, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 15x in the Electric Utilities industry in Europe. Total returns to shareholders of 27% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč509 per share.
Valuation Update With 7 Day Price Move • May 31Investor sentiment deteriorates as stock falls 51%After last week's 51% share price decline to Kč498, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 14x in the Electric Utilities industry in Europe. Total returns to shareholders of 27% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč514 per share.
お知らせ • May 12CEZ, a. s., Annual General Meeting, Jun 26, 2023CEZ, a. s., Annual General Meeting, Jun 26, 2023.
Reported Earnings • May 12First quarter 2023 earnings released: EPS: Kč20.10 (vs Kč49.83 in 1Q 2022)First quarter 2023 results: EPS: Kč20.10 (down from Kč49.83 in 1Q 2022). Revenue: Kč93.4b (up 25% from 1Q 2022). Net income: Kč10.8b (down 60% from 1Q 2022). Profit margin: 12% (down from 36% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years compared to a 3.5% decline forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth.
お知らせ • May 10CEZ, a. s. to Report Q1, 2023 Results on May 11, 2023CEZ, a. s. announced that they will report Q1, 2023 results at 7:00 AM, Central European Standard Time on May 11, 2023
Valuation Update With 7 Day Price Move • May 09Investor sentiment deteriorates as stock falls 57%After last week's 57% share price decline to Kč498, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 15x in the Electric Utilities industry in Europe. Total returns to shareholders of 27% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč485 per share.
Valuation Update With 7 Day Price Move • Apr 14Investor sentiment deteriorates as stock falls 54%After last week's 54% share price decline to Kč498, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 14x in the Electric Utilities industry in Europe. Total returns to shareholders of 43% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč486 per share.
Valuation Update With 7 Day Price Move • Mar 31Investor sentiment improves as stock rises 102%After last week's 102% share price gain to Kč1,008, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 13x in the Electric Utilities industry in Europe. Total returns to shareholders of 193% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč1,159 per share.
Reported Earnings • Mar 25Full year 2022 earnings released: EPS: Kč151 (vs Kč18.26 in FY 2021)Full year 2022 results: EPS: Kč151 (up from Kč18.26 in FY 2021). Revenue: Kč285.5b (up 27% from FY 2021). Net income: Kč80.8b (up Kč71.0b from FY 2021). Profit margin: 28% (up from 4.4% in FY 2021). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 5.2% decline forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth.
Valuation Update With 7 Day Price Move • Mar 15Investor sentiment deteriorates as stock falls 50%After last week's 50% share price decline to Kč498, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 12x in the Electric Utilities industry in Europe. Total returns to shareholders of 45% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč581 per share.
Valuation Update With 7 Day Price Move • Feb 23Investor sentiment deteriorates as stock falls 51%After last week's 51% share price decline to Kč498, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 12x in the Electric Utilities industry in Europe. Total returns to shareholders of 33% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč535 per share.
Buying Opportunity • Feb 07Now 23% undervalued after recent price dropOver the last 90 days, the stock is down 41%. The fair value is estimated to be Kč647, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.2% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 0.4% per annum. Earnings is also forecast to decline by 20% per annum over the same time period.
Buying Opportunity • Jan 23Now 38% undervalued after recent price dropOver the last 90 days, the stock is down 36%. The fair value is estimated to be Kč804, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.2% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to decline by 0.6% per annum. Earnings is also forecast to decline by 20% per annum over the same time period.
お知らせ • Jan 04+ 1 more updateCEZ, a. s. to Report First Half, 2023 Results on Aug 31, 2023CEZ, a. s. announced that they will report first half, 2023 results on Aug 31, 2023
Valuation Update With 7 Day Price Move • Dec 13Investor sentiment deteriorated over the past weekAfter last week's 36% share price decline to Kč498, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 13x in the Electric Utilities industry in Europe. Total returns to shareholders of 21% over the past three years.
Valuation Update With 7 Day Price Move • Nov 24Investor sentiment deteriorated over the past weekAfter last week's 39% share price decline to Kč498, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 14x in the Electric Utilities industry in Europe. Total returns to shareholders of 18% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Kč912 per share.
Buying Opportunity • Nov 21Now 51% undervalued after recent price dropOver the last 90 days, the stock is down 51%. The fair value is estimated to be Kč1,018, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.2% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 3.5% per annum. Earnings is forecast to decline by 16% per annum over the same time period.
Reported Earnings • Nov 16Third quarter 2022 earnings released: EPS: Kč34.80 (vs Kč9.60 in 3Q 2021)Third quarter 2022 results: EPS: Kč34.80 (up from Kč9.60 in 3Q 2021). Revenue: Kč79.9b (up 71% from 3Q 2021). Net income: Kč18.7b (up 265% from 3Q 2021). Profit margin: 23% (up from 11% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Europe are expected to remain flat.
Board Change • Nov 16No independent directorsFollowing the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Vice Chairman of Supervisory Board Roman Binder was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.
Valuation Update With 7 Day Price Move • Oct 24Investor sentiment deteriorated over the past weekAfter last week's 34% share price decline to Kč498, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 13x in the Electric Utilities industry in Europe. Total returns to shareholders of 25% over the past three years.