CEZ a. s Future Growth

Future criteria checks 1/6

CEZ a. s's revenue is forecast to decline at 4.6% per annum while its annual earnings are expected to grow at 10.8% per year. EPS is expected to grow by 9.6% per annum. Return on equity is forecast to be 12.1% in 3 years.

Key information

10.8%

Earnings growth rate

9.6%

EPS growth rate

Electric Utilities earnings growth	2.8%
Revenue growth rate	-4.6%
Future return on equity	12.1%
Analyst coverage	Good
Last updated	09 Dec 2024

Recent future growth updates

CEZ, a. s. Just Beat Revenue Estimates By 5.6%

Aug 11

CEZ, a. s. Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now

Mar 24

Recent updates

There's Been No Shortage Of Growth Recently For CEZ a. s' (SEP:CEZ) Returns On Capital

May 04

Some May Be Optimistic About CEZ a. s' (SEP:CEZ) Earnings

Mar 29

CEZ, a. s. Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now

Mar 24

CEZ, a. s.'s (SEP:CEZ) Intrinsic Value Is Potentially 48% Above Its Share Price

Mar 01

Here's Why CEZ a. s (SEP:CEZ) Can Manage Its Debt Responsibly

Feb 12

Returns At CEZ a. s (SEP:CEZ) Are On The Way Up

Jan 25

Earnings and Revenue Growth Forecasts

SEP:CEZ - Analysts future estimates and past financials data (CZK Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
12/31/2026	301,542	37,044	38,897	89,402	9
12/31/2025	321,064	30,174	33,727	78,043	9
12/31/2024	340,562	29,924	36,527	87,451	8
9/30/2024	334,360	23,199	61,365	112,666	N/A
6/30/2024	328,703	28,387	23,980	72,416	N/A
3/31/2024	330,773	32,286	53,628	99,159	N/A
12/31/2023	336,776	29,524	92,775	137,567	N/A
9/30/2023	319,908	58,209	88,027	125,789	N/A
6/30/2023	323,674	69,382	59,713	98,020	N/A
3/31/2023	303,889	64,849	13,869	50,732	N/A
12/31/2022	285,533	80,786	-28,856	5,092	N/A
9/30/2022	280,464	55,570	9,288	46,113	N/A
6/30/2022	246,740	41,992	43,912	77,276	N/A
3/31/2022	241,974	28,096	55,402	87,059	N/A
12/31/2021	225,014	9,791	26,930	59,156	N/A
9/30/2021	210,583	-1,263	14,232	46,206	N/A
6/30/2021	212,176	-7,566	33,008	64,595	N/A
3/31/2021	211,186	37	32,588	64,519	N/A
12/31/2020	209,645	5,438	40,599	72,157	N/A
9/30/2020	209,341	14,196	23,826	54,446	N/A
6/30/2020	208,132	15,457	15,927	46,132	N/A
3/31/2020	206,964	18,354	6,816	36,397	N/A
12/31/2019	201,907	14,373	13,129	42,931	N/A
9/30/2019	196,825	14,774	9,375	39,352	N/A
6/30/2019	194,543	16,171	13,115	42,184	N/A
3/31/2019	186,863	13,030	9,645	37,913	N/A
12/31/2018	181,487	10,327	9,333	35,351	N/A
9/30/2018	184,786	11,656	21,162	46,183	N/A
6/30/2018	185,303	9,960	N/A	43,325	N/A
3/31/2018	192,323	17,317	N/A	50,297	N/A
12/31/2017	199,107	18,765	N/A	45,812	N/A
9/30/2017	202,520	15,939	N/A	44,640	N/A
6/30/2017	202,777	16,966	N/A	46,657	N/A
3/31/2017	203,161	12,974	N/A	46,469	N/A
12/31/2016	202,096	14,281	N/A	48,953	N/A
9/30/2016	200,768	18,519	N/A	63,282	N/A
6/30/2016	202,410	18,993	N/A	69,796	N/A
3/31/2016	204,473	23,100	N/A	72,657	N/A
12/31/2015	206,821	20,739	N/A	72,579	N/A
9/30/2015	201,452	19,252	N/A	61,376	N/A
6/30/2015	199,906	20,506	N/A	62,902	N/A
3/31/2015	198,319	20,006	N/A	70,168	N/A
12/31/2014	195,576	22,403	N/A	70,675	N/A
9/30/2014	201,343	23,289	N/A	78,185	N/A
6/30/2014	205,538	24,566	N/A	79,283	N/A
3/31/2014	209,369	27,991	N/A	71,379	N/A
12/31/2013	215,409	35,886	N/A	72,202	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: CEZ's forecast earnings growth (10.8% per year) is above the savings rate (3.1%).

Earnings vs Market: CEZ's earnings (10.8% per year) are forecast to grow slower than the CZ market (13.8% per year).

High Growth Earnings: CEZ's earnings are forecast to grow, but not significantly.

Revenue vs Market: CEZ's revenue is expected to decline over the next 3 years (-4.6% per year).

High Growth Revenue: CEZ's revenue is forecast to decline over the next 3 years (-4.6% per year).

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: CEZ's Return on Equity is forecast to be low in 3 years time (12.1%).

Discover growth companies

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/20 18:25
End of Day Share Price	2024/12/20 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

CEZ, a. s. is covered by 40 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Kamil Kliszcz	Biuro maklerskie mBanku
Olivier Van Doosselaere	BNP Paribas Exane
Benjamin Leyre	BNP Paribas Exane

CEZ a. s Future Growth

Future criteria checks 1/6

Key information

Recent future growth updates

CEZ, a. s. Just Beat Revenue Estimates By 5.6%

CEZ, a. s. Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now

Consensus revenue estimates decrease by 11%

Price target decreased to Kč1,007

Consensus forecasts updated

Price target decreased to Kč1,121

Recent updates

Is CEZ, a. s. (SEP:CEZ) Trading At A 45% Discount?

Third quarter 2024 earnings released: EPS: Kč4.40 (vs Kč14.00 in 3Q 2023)

What CEZ, a. s.'s (SEP:CEZ) P/E Is Not Telling You

CEZ, a. s. (SEP:CEZ) acquired unknown minority stake in Rolls-Royce SMR Ltd.

CEZ a. s (SEP:CEZ) Has A Somewhat Strained Balance Sheet

Investors Will Want CEZ a. s' (SEP:CEZ) Growth In ROCE To Persist

CEZ, a. s. (SEP:CEZ) completed the acquisition of 55.21% stake in Czech Grid Holding, a.s. from Macquarie Asset Management Inc.

Calculating The Fair Value Of CEZ, a. s. (SEP:CEZ)

CEZ, a. s. Just Beat Revenue Estimates By 5.6%

New minor risk - Financial position

Second quarter 2024 earnings released: EPS: Kč14.10 (vs Kč21.31 in 2Q 2023)

CEZ, a. s.'s (SEP:CEZ) Share Price Could Signal Some Risk

CEZ, a. s., Annual General Meeting, Jun 24, 2024

Is CEZ a. s (SEP:CEZ) Using Too Much Debt?

New minor risk - Financial position

First quarter 2024 earnings released: EPS: Kč25.20 (vs Kč20.10 in 1Q 2023)

There's Been No Shortage Of Growth Recently For CEZ a. s' (SEP:CEZ) Returns On Capital

Some May Be Optimistic About CEZ a. s' (SEP:CEZ) Earnings

CEZ, a. s. Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now

Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind

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.

CEZ, a. s.'s (SEP:CEZ) Intrinsic Value Is Potentially 48% Above Its Share Price

Here's Why CEZ a. s (SEP:CEZ) Can Manage Its Debt Responsibly

Returns At CEZ a. s (SEP:CEZ) Are On The Way Up

Now 20% undervalued after recent price drop

CEZ, a. s. to Report Fiscal Year 2023 Results on Mar 21, 2024

New minor risk - Financial position

CEZ, a. s. to Report Q3, 2023 Results on Nov 09, 2023

Second quarter 2023 earnings released: EPS: Kč21.30 (vs Kč12.90 in 2Q 2022)

CEZ, a. s. to Report Q2, 2023 Results on Aug 10, 2023

Upcoming dividend of Kč117 per share at 11% yield

Investor sentiment deteriorates as stock falls 15%

CEZ, a. s., Annual General Meeting, Jun 26, 2023

First quarter 2023 earnings released: EPS: Kč20.10 (vs Kč49.83 in 1Q 2022)

CEZ, a. s. to Report Q1, 2023 Results on May 11, 2023

Consensus revenue estimates decrease by 11%

Full year 2022 earnings: EPS exceeds analyst expectations while revenues lag behind

CEZ, a. s. to Report Fiscal Year 2022 Results on Mar 21, 2023

CEZ, a. s. to Report First Half, 2023 Results on Aug 31, 2023

Price target decreased to Kč1,007

Consensus forecasts updated

Third quarter 2022 earnings released: EPS: Kč34.80 (vs Kč9.60 in 3Q 2021)

No independent directors

Third quarter 2022 earnings released: EPS: Kč34.80 (vs Kč9.60 in 3Q 2021)

Investor sentiment deteriorated over the past week

Price target decreased to Kč1,121

Consensus forecasts updated

Torunlar Enerji Sanayi Ve Tic.A.S. and Baskent Dogalgaz Dagitim Gayrimenkul Yatirim Ortakligi A.S. (IBSE:BASGZ) agreed to acquire 50% stake in Akcez Enerji A.S. from CEZ, a. s. (SEP:CEZ).

Consensus EPS estimates increase by 12%

Investor sentiment deteriorated over the past week

Upcoming dividend of Kč48.00 per share

Price target increased to Kč1,090

CEZ, a. s. (SEP:CEZ) acquired SKODA JS a.s. from OMZ B.V.

First quarter 2022 earnings: EPS and revenues miss analyst expectations

CEZ, a. s., Annual General Meeting, Jun 28, 2022

Consensus forecasts updated

CEZ, a. s., Annual General Meeting, Jun 28, 2022

No independent directors

Consensus EPS estimates increase by 17%

Full year 2021 earnings: Revenues exceed analysts expectations while EPS lags behind

Price target increased to Kč815

CEZ, a. s. (SEP:CEZ) completed the acquisition of BELECTRIC Solar & Battery Holding GmbH from RWE Renewables GmbH.

Price target increased to Kč777

CEZ, a. s. (SEP:CEZ) agreed to acquire BELECTRIC Solar & Battery Holding GmbH from RWE Renewables GmbH.

Third quarter 2021 earnings released: EPS Kč9.60 (vs Kč2.20 loss in 3Q 2020)

Price target increased to Kč695

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings per Share Growth Forecasts