Calculating The Intrinsic Value Of Enagás, S.A. (BME:ENG)
Nov 21
Spanish (IBEX) Utilities Sector Analysis
UpdatedNov 27, 2022
DataAggregated Company Financials
Companies14
- 7D2.0%
- 3M-4.3%
- 1Y9.3%
- YTD1.7%
The Utilities industry is up 2.0% in the last week, with Iberdrola up 2.2%. This takes the industry's 12 month performance to a gain of 9.3%. As for the next few years, earnings are expected to grow by 2.7% per annum.
Sector Valuation and Performance
Has the Spanish Utilities Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 27 Nov 2022 | €135.2b | €104.6b | €8.2b | 20.7x | 16.5x | 1.3x |
| Tue, 25 Oct 2022 | €135.0b | €121.8b | €9.1b | 19.8x | 14.8x | 1.1x |
| Thu, 22 Sep 2022 | €152.3b | €121.0b | €9.1b | 21.2x | 16.7x | 1.3x |
| Sat, 20 Aug 2022 | €161.6b | €121.0b | €9.1b | 23.3x | 17.8x | 1.3x |
| Mon, 18 Jul 2022 | €150.3b | €107.2b | €8.0b | 29.9x | 18.7x | 1.4x |
| Wed, 15 Jun 2022 | €150.0b | €107.2b | €8.0b | 29.2x | 18.7x | 1.4x |
| Fri, 13 May 2022 | €158.7b | €100.5b | €8.2b | 29.7x | 19.4x | 1.6x |
| Sun, 10 Apr 2022 | €161.3b | €98.4b | €8.1b | 31.6x | 19.8x | 1.6x |
| Tue, 08 Mar 2022 | €136.9b | €98.2b | €8.2b | 25.2x | 16.8x | 1.4x |
| Thu, 03 Feb 2022 | €148.1b | €88.3b | €6.3b | 30.1x | 23.4x | 1.7x |
| Sat, 01 Jan 2022 | €153.6b | €88.3b | €6.3b | 29.6x | 24.3x | 1.7x |
| Mon, 29 Nov 2021 | €144.5b | €88.3b | €6.3b | 33.2x | 22.9x | 1.6x |
| Wed, 27 Oct 2021 | €141.7b | €84.1b | €5.9b | 34.9x | 23.8x | 1.7x |
| Fri, 24 Sep 2021 | €134.8b | €83.9b | €5.9b | 32.6x | 22.7x | 1.6x |
| Sun, 22 Aug 2021 | €146.9b | €83.7b | €5.9b | 32.2x | 24.8x | 1.8x |
| Fri, 09 Jul 2021 | €132.8b | €81.4b | €5.7b | 26.4x | 23.5x | 1.6x |
| Thu, 01 Apr 2021 | €139.2b | €77.8b | €5.6b | 29x | 24.7x | 1.8x |
| Sun, 03 Jan 2021 | €139.5b | €77.0b | €6.1b | 26.3x | 22.9x | 1.8x |
| Wed, 07 Oct 2020 | €127.9b | €78.9b | €7.5b | 20.9x | 17.1x | 1.6x |
| Tue, 30 Jun 2020 | €128.2b | €81.7b | €6.7b | 26.5x | 19.2x | 1.6x |
| Fri, 03 Apr 2020 | €115.3b | €86.1b | €7.2b | 17.2x | 16.1x | 1.3x |
| Mon, 06 Jan 2020 | €128.9b | €89.0b | €6.5b | 23.9x | 19.8x | 1.4x |
Price to Earnings Ratio
19.5x
Current Industry PE
- Investors are pessimistic on the Spanish Utilities industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 16.5x which is lower than its 3-year average PE of 20.2x.
- The 3-year average PS ratio of 1.6x is higher than the industry's current PS ratio of 1.3x.
Past Earnings Growth
- The earnings for companies in the Utilities industry have grown 7.5% per year over the last three years.
- Revenues for these companies have grown 4.8% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Trends
Which industries have driven the changes within the Spanish Utilities sector?
| ES Market | 3.27% | |
| Utilities | 2.03% | |
| Electric Utilities | 2.37% | |
| Gas Utilities | 2.16% | |
| Renewable Energy | 0.021% | |
| Other Utilities | 0% | |
| Water Utilities | 0% | |
Industry PE
- Investors are most optimistic about the Renewable Energy industry even though it's trading below its 3-year average PE ratio of 42.5x.
- Analysts are expecting annual earnings growth of 4.6%, which is lower than the prior year's growth of 87.0% per year.
- Investors are most pessimistic about the Gas Utilities industry, which is trading below its 3-year average of 92.3x.
Forecasted Growth
- Analysts are most optimistic on the Electric Utilities industry, expecting annual earnings growth of 5.1% over the next 5 years.
- This is better than its past earnings growth rate of 2.4% per year.
- In contrast, the Gas Utilities industry is expected to see its earnings decline by 5.3% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| IBE Iberdrola | €10.82 | 2.2% +€1.4b | 8.8% | PE15.2x | |
| NTGY Naturgy Energy Group | €27.30 | 2.1% +€538.1m | 13.0% | PE17.3x | |
| ANA Acciona | €187.60 | 4.0% +€392.2m | 17.8% | PE26.5x | |
| RED Red Eléctrica Corporación | €17.70 | 2.3% +€218.4m | -3.8% | PE14x | |
| ENG Enagás | €17.75 | 2.5% +€115.0m | -10.7% | PE10.3x |
