Investors Met With Slowing Returns on Capital At REN - Redes Energéticas Nacionais SGPS (ELI:RENE)
Mar 29
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Portuguese (PSI) Market Analysis & Valuation
UpdatedApr 03, 2025
DataAggregated Company Financials
Companies43
- 7D1.1%
- 3M3.0%
- 1Y-0.7%
- YTD3.0%
The market has climbed 1.1% in the last 7 days, lead by the Consumer Staples sector with a gain of 4.0%. As for last year, the market performance has been flat. As for the next few years, earnings are expected to grow by 10% per annum.
Market Valuation and Performance
Has the Portuguese Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Thu, 03 Apr 2025 | €71.1b | €105.7b | €4.5b | 11.7x | 15.9x | 0.7x |
| Sat, 01 Mar 2025 | €70.4b | €104.5b | €5.6b | 11.9x | 12.7x | 0.7x |
| Mon, 27 Jan 2025 | €68.1b | €104.7b | €5.9b | 11.4x | 11.5x | 0.7x |
| Wed, 25 Dec 2024 | €69.4b | €104.8b | €5.9b | 11.9x | 11.8x | 0.7x |
| Fri, 22 Nov 2024 | €71.8b | €105.0b | €5.9b | 13.3x | 12.3x | 0.7x |
| Sun, 20 Oct 2024 | €77.7b | €105.0b | €6.4b | 12.7x | 12.1x | 0.7x |
| Tue, 17 Sep 2024 | €80.1b | €104.9b | €6.5b | 12.9x | 12.4x | 0.8x |
| Thu, 15 Aug 2024 | €77.7b | €104.7b | €6.4b | 12.3x | 12.1x | 0.7x |
| Sat, 13 Jul 2024 | €80.5b | €103.3b | €5.8b | 12.5x | 13.9x | 0.8x |
| Mon, 10 Jun 2024 | €80.2b | €103.2b | €5.8b | 12.9x | 13.9x | 0.8x |
| Wed, 08 May 2024 | €79.3b | €103.7b | €5.7b | 14.5x | 13.9x | 0.8x |
| Fri, 05 Apr 2024 | €73.6b | €102.5b | €5.8b | 10.4x | 12.7x | 0.7x |
| Sun, 03 Mar 2024 | €74.9b | €101.8b | €5.6b | 12.1x | 13.4x | 0.7x |
| Tue, 30 Jan 2024 | €77.3b | €103.1b | €5.8b | 11.8x | 13.4x | 0.7x |
| Thu, 28 Dec 2023 | €84.1b | €103.3b | €5.8b | 11x | 14.5x | 0.8x |
| Sat, 25 Nov 2023 | €79.5b | €103.2b | €5.8b | 11.5x | 13.7x | 0.8x |
| Mon, 23 Oct 2023 | €74.3b | €105.8b | €5.5b | 9.7x | 13.5x | 0.7x |
| Wed, 20 Sep 2023 | €78.7b | €105.8b | €5.5b | 9.9x | 14.2x | 0.7x |
| Fri, 18 Aug 2023 | €77.7b | €104.8b | €5.6b | 9.9x | 14x | 0.7x |
| Sun, 16 Jul 2023 | €80.1b | €106.6b | €6.3b | 9.5x | 12.7x | 0.8x |
| Tue, 13 Jun 2023 | €81.9b | €106.5b | €6.3b | 9.9x | 13x | 0.8x |
| Thu, 11 May 2023 | €81.7b | €105.9b | €6.3b | 9.3x | 13.1x | 0.8x |
| Sat, 08 Apr 2023 | €83.0b | €105.8b | €5.5b | 9.2x | 15.1x | 0.8x |
| Mon, 06 Mar 2023 | €80.4b | €104.1b | €5.4b | 9.3x | 15x | 0.8x |
| Wed, 01 Feb 2023 | €78.5b | €101.3b | €5.1b | 9.3x | 15.3x | 0.8x |
| Fri, 30 Dec 2022 | €79.8b | €101.3b | €5.1b | 8.7x | 15.6x | 0.8x |
| Sun, 27 Nov 2022 | €80.3b | €101.0b | €5.1b | 9.1x | 15.7x | 0.8x |
| Tue, 25 Oct 2022 | €74.3b | €93.5b | €4.1b | 10.9x | 18.2x | 0.8x |
| Thu, 22 Sep 2022 | €82.0b | €93.2b | €4.0b | 10.5x | 20.3x | 0.9x |
| Sat, 20 Aug 2022 | €87.7b | €92.9b | €4.0b | 11.4x | 21.8x | 0.9x |
| Mon, 18 Jul 2022 | €81.1b | €85.0b | €2.7b | 12.8x | 29.5x | 1x |
| Wed, 15 Jun 2022 | €79.4b | €85.0b | €2.7b | 13.8x | 29x | 0.9x |
| Fri, 13 May 2022 | €77.6b | €84.3b | €2.5b | 15x | 30.4x | 0.9x |
| Sun, 10 Apr 2022 | €83.0b | €78.5b | €2.9b | 18x | 28.4x | 1.1x |
Price to Earnings Ratio
28.4x
Current Market PE
- Investors are relatively neutral on the Portuguese market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
- The market is trading close to its 3-year average PE ratio of 15.8x.
Past Earnings Growth
- The earnings for Portuguese listed companies have grown 15% per year over the last three years.
- Revenues for these companies have grown 10% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Sector Trends
Which sectors have driven the changes within the Portuguese Market?
| PT Market | 1.06% | |
| Tech | 5.66% | |
| Consumer Staples | 3.98% | |
| Energy | 1.97% | |
| Telecom | 1.93% | |
| Consumer Discretionary | 0.82% | |
| Industrials | 0.55% | |
| Real Estate | 0.21% | |
| Utilities | 0.20% | |
| Healthcare | 0% | 0 |
| Materials | -0.45% | |
| Financials | -1.77% | |
Sector PE
- Investors favour the Utilities sector the most for future growth, which is trading above its 3-year average PE ratio of 25.5x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 19.7% which is higher than its past year's earnings decline of 6.8% per year.
Forecasted Growth
- Analysts are most optimistic on the Consumer Discretionary sector, expecting annual earnings growth of 20% over the next 5 years.
- This is better than its past earnings decline of 9.6% per year.
- In contrast, the Telecom sector is expected to see its earnings decline by 24% 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 | Sector | |
|---|---|---|---|---|---|---|
| JMT Jerónimo Martins SGPS | €20.50 | 4.5% +€553.0m | 10.9% | PE21.5x | Consumer Staples | |
| GALP Galp Energia SGPS | €16.06 | 2.0% +€215.6m | 1.1% | PE10.7x | Energy | |
| EDP EDP | €3.14 | 1.3% +€170.7m | -11.6% | PE16.3x | Utilities | |
| NOS NOS S.G.P.S | €4.50 | 3.5% +€76.7m | 23.2% | PE8.4x | Telecom | |
| RENE REN - Redes Energéticas Nacionais SGPS | €2.79 | 3.5% +€63.0m | 26.0% | PE12.1x | Utilities |
