PNE AG

XTRA:PNE3 Stock Report

Market Cap: €782.9m

PNE Future Growth

Future criteria checks 3/6

PNE is forecast to grow earnings and revenue by 48.4% and 1.7% per annum respectively. EPS is expected to grow by 48.4% per annum. Return on equity is forecast to be 10.2% in 3 years.

Key information

48.4%

Earnings growth rate

48.36%

EPS growth rate

Electrical earnings growth27.1%
Revenue growth rate1.7%
Future return on equity10.20%
Analyst coverage

Low

Last updated21 May 2026

Recent future growth updates

Recent updates

Narrative Update • Jun 01

PNE3: Stable Assumptions And CFO Transition Will Support Future Upside Potential

Analysts have kept their price target for PNE steady at €12.63, citing largely unchanged assumptions for fair value, discount rate and revenue growth, along with a slightly lower profit margin outlook and a marginally higher future P/E estimate. What's in the News CFO Harald Wilbert plans to step down from his role at PNE for personal reasons, with his departure from office effective at the end of June 5, 2026.
Narrative Update • May 11

PNE3: New German Wind Permits Will Support Future Upside Potential

Analysts have kept their price target for PNE steady at €12.63, citing unchanged fair value estimates, as well as consistent assumptions for revenue growth, profit margins and future P/E. What's in the News PNE plans a Board Meeting on April 30, 2026 to consider changes to the chairmanship of the Supervisory Board and to approve the early departure of CFO Harald Wilbert for personal reasons (Board Meeting).
Narrative Update • Apr 27

PNE3: New German Wind Permits Will Support Future Upside Potential

Analysts have kept their price target for PNE steady at €12.63, reflecting unchanged assumptions around the discount rate, revenue growth, profit margin, and a future P/E of about 88.65x. What's in the News PNE received permits under the German Federal Immission Control Act for two onshore wind energy projects in Germany, covering the new "Am Heilborn" wind farm and the repowering of the "Hassendorf" wind farm (Key Developments).
New Narrative • Apr 13

Renewable Tenders And IPP Expansion Will Support Long Term Earnings Power

Catalysts About PNE PNE develops, builds, operates and sells wind, solar and storage projects, and also provides energy services such as operations, asset management and PPA solutions. What are the underlying business or industry changes driving this perspective?
Narrative Update • Apr 11

PNE3: New Wind Permits And Expanded Wind Portfolio Will Support Upside

Analysts have adjusted their price target on PNE from €14.73 to €12.63, citing updated assumptions around discount rates, revenue growth, profit margins and a higher future P/E multiple. What's in the News PNE received permits under the German Federal Immission Control Act for the Am Heilborn wind farm in Thuringia and the repowering of the Hassendorf wind farm in Lower Saxony, covering construction and operation of both projects (Key Developments).
Analysis Article • Apr 07

New Forecasts: Here's What Analysts Think The Future Holds For PNE AG (ETR:PNE3)

Celebrations may be in order for PNE AG ( ETR:PNE3 ) shareholders, with the analysts delivering a significant upgrade...
New Narrative • Mar 30

Grid Constraints And Redispatch Pressures Will Challenge Returns Yet Support Long Term Stability

Catalysts About PNE PNE develops, builds and operates onshore wind, solar PV, storage and related services, with a focus on core European markets. What are the underlying business or industry changes driving this perspective?
Narrative Update • Mar 28

PNE3: New Wind Permits And Growing Own Portfolio Will Drive Upside

Analysts have adjusted their price target for PNE to €14.73, reflecting updated assumptions around higher revenue growth, slightly lower discount rates, stronger profit margins and a reduced future P/E multiple. What's in the News PNE received permits under the German Federal Immission Control Act for the Am Heilborn wind farm in Thuringia, covering five Vestas V172 turbines with a total planned nominal output of 36.0 MW, supporting further onshore wind build out in Germany (Key Developments).
Narrative Update • Mar 11

PNE3: New Wind Permits And Portfolio Expansion Will Support Future Upside

Analysts have kept their €14.73 price target for PNE broadly unchanged, with only small model tweaks to the discount rate, long term revenue growth, profit margin and future P/E assumptions supporting this steady view. What's in the News PNE AG received permits under the German Federal Immission Control Act for the Am Heilborn wind farm in Thuringia, covering five Vestas V172 turbines with a total planned capacity of 36.0 MW, and for the full repowering of the Hassendorf wind farm in Lower Saxony with three Vestas V150 turbines totaling 18 MW, taking the combined nominal output of the two projects to 54 MW (Key Developments).
Narrative Update • Feb 24

PNE3: New Wind Permits And Portfolio Additions Will Support Future Upside

Analysts have revised their price target on PNE to €14.73, reflecting updated assumptions around a lower discount rate, higher revenue growth, stronger profit margins and a reduced future P/E multiple. What's in the News PNE received permits under the German Federal Immission Control Act for the Am Heilborn wind farm in Thuringia and the repowering of the Hassendorf wind farm in Lower Saxony, covering a combined planned capacity of 54 MW across Vestas turbines (Key Developments).
Narrative Update • Feb 10

PNE3: New Wind Capacity And Power Portfolio Will Support Future Upside

Analysts have trimmed their price target on PNE to reflect a fair value update from $15.30 to about $14.73, citing slightly lower assumptions for revenue growth and profit margins, as well as a higher discount rate and an updated future P/E estimate. What's in the News PNE Group and EDF power solutions have commissioned the Gebstedt wind farm in Thuringia, adding four Vestas V150 turbines with a total installed capacity of 16.8 MW to regional renewable generation (Key Developments).
Narrative Update • Jan 27

PNE3: Long-Term Power Contracts And New Wind Capacity Will Support Upside Potential

The analyst price target for PNE has shifted from €17.27 to €15.30. Analysts point to updated assumptions for revenue growth, profit margins and future P/E as key drivers of the change.
Narrative Update • Jan 12

PNE3: Long-Term Power Contracts Will Support Future Upside Potential

Analysts have kept their price target for PNE broadly unchanged at about $17.27. They cite consistent assumptions on the discount rate, revenue growth, profit margins, and future P/E as the basis for maintaining their view.
Narrative Update • Dec 25

PNE3: Long-Term Power Contracts Will Drive Future Upside Potential

Analysts have nudged their price target on PNE higher by a modest amount to reflect steady expectations for revenue growth and profit margins, while maintaining broadly unchanged long term valuation assumptions. What's in the News PNE AG has been removed from the Germany TECDAX Total Return Index, reducing its visibility among passive and index-tracking investors (index constituent announcement).
Narrative Update • Dec 11

PNE3: French Wind Projects And Long Term Power Deals Will Drive Upside

Narrative Update on PNE Analysts have maintained their price target for PNE at approximately €17.27, reflecting stable expectations around the company’s discount rate, revenue growth outlook and profit margin profile despite the latest review. What's in the News PNE wins French onshore wind tender with its Romescamps and Chery projects, securing 20.8 MW of capacity and higher expected power generation through updated turbine designs and permits (Client Announcements) Commissioning of the Romescamps wind farm in Hauts de France is planned for late 2027, while the Chery wind farm in Centre Val de Loire is expected to start operations in early 2029, both benefiting from competitive tender electricity prices (Client Announcements) PNE completes the sale of two French wind farms, Clermont en Argonne (14.4 MW) and Genouille (11.3 MW), to JP Energie Environnement and Soregies respectively, crystallizing value from its French development pipeline (Client Announcements) Through its subsidiary Energy Consult France, PNE will continue to operate the Genouille wind farm on behalf of Soregies, expanding its asset management and services presence in the French market (Client Announcements) Infineon Technologies signs a 10 year power purchase agreement with PNE for green electricity from the Schlenzer and Kittlitz III wind farms in Brandenburg, totaling 24 MW and potentially around 550 GWh over their lifetime (Client Announcements) Valuation Changes Fair Value: Unchanged at approximately €17.27 per share.
Narrative Update • Nov 27

PNE3: Expanding French Wind Projects Will Drive Stronger Market Position

Analysts have lowered their price target for PNE from $19.67 to $17.27, citing decreased revenue growth forecasts and tighter profit margins as key factors influencing their revised outlook. What's in the News PNE Group completed the sale of two premium wind farm projects in France: the "Clermont-en-Argonne" (14.4 MW), now under construction, and "Genouille" (11.3 MW), now operational.
Analysis Article • Nov 06

Is There An Opportunity With PNE AG's (ETR:PNE3) 39% Undervaluation?

Key Insights Using the 2 Stage Free Cash Flow to Equity, PNE fair value estimate is €16.86 PNE's €10.32 share price...
Analysis Article • Sep 23

Investors Interested In PNE AG's (ETR:PNE3) Revenues

When close to half the companies in the Electrical industry in Germany have price-to-sales ratios (or "P/S") below 2x...
Analysis Article • Aug 16

PNE (ETR:PNE3) Has A Somewhat Strained Balance Sheet

XTRA:PNE3 1 Year Share Price vs Fair Value Explore PNE's Fair Values from the Community and select yours The external...
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New Narrative • Aug 11

European Wind, Solar And Storage Will Drive Opportunities

Strong project pipeline, expansion in renewables, and focus on higher-margin, recurring revenue streams position PNE for stable, long-term earnings growth.
Analysis Article • Apr 20

PNE (ETR:PNE3) Has A Somewhat Strained Balance Sheet

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' So it might be obvious that you need to...
Analysis Article • Jan 16

Is PNE (ETR:PNE3) Using Debt In A Risky Way?

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Analysis Article • Sep 18

Does PNE (ETR:PNE3) Have A Healthy Balance Sheet?

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Analysis Article • Jul 27

PNE AG (ETR:PNE3) Not Lagging Industry On Growth Or Pricing

When close to half the companies in the Electrical industry in Germany have price-to-sales ratios (or "P/S") below...
Analysis Article • Mar 08

We Think PNE (ETR:PNE3) Has A Fair Chunk Of Debt

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Analysis Article • Dec 20

PNE AG's (ETR:PNE3) Earnings Haven't Escaped The Attention Of Investors

When you see that almost half of the companies in the Electrical industry in Germany have price-to-sales ratios (or...
Analysis Article • Oct 21

These 4 Measures Indicate That PNE (ETR:PNE3) Is Using Debt In A Risky Way

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Analysis Article • Sep 07

There Are Reasons To Feel Uneasy About PNE's (ETR:PNE3) Returns On Capital

If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...
Analysis Article • Jul 06

Here's Why PNE (ETR:PNE3) Can Afford Some Debt

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Analysis Article • Apr 12

PNE (ETR:PNE3) Is Due To Pay A Dividend Of €0.08

PNE AG ( ETR:PNE3 ) will pay a dividend of €0.08 on the 12th of May. The dividend yield is 0.6% based on this payment...
Analysis Article • Mar 14

Is PNE (ETR:PNE3) Using Too Much Debt?

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Analysis Article • Feb 21

PNE (ETR:PNE3) Might Be Having Difficulty Using Its Capital Effectively

There are a few key trends to look for if we want to identify the next multi-bagger. Typically, we'll want to notice a...

Earnings and Revenue Growth Forecasts

XTRA:PNE3 - Analysts future estimates and past financials data (EUR Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/202832214-17502
12/31/20273611930502
12/31/20263781698672
12/31/2025230-43-154-50N/A
9/30/2025275-1-147-119N/A
6/30/2025224-24-198-166N/A
3/31/2025207-20-196-154N/A
12/31/2024211-4-211-177N/A
9/30/2024124-34-283-255N/A
6/30/2024125-16-252-226N/A
3/31/2024121-8-217-200N/A
12/31/2023122-10-192-166N/A
9/30/2023125-17-123-84N/A
6/30/2023131-10-115-54N/A
3/31/2023129-1-124-20N/A
12/31/202212615-105-9N/A
9/30/202214040-57106N/A
6/30/202212934-7364N/A
3/31/202213134-7220N/A
12/31/202111825-8924N/A
9/30/2021902-156-127N/A
6/30/2021888-124-87N/A
3/31/20211102-109-73N/A
12/31/20201102-83-68N/A
9/30/2020134-4-4915N/A
6/30/2020130-9-5329N/A
3/31/2020121-2-2357N/A
12/31/2019133-1-4335N/A
9/30/2019124-6N/A2N/A
6/30/20191293N/A-6N/A
3/31/20191084N/A-29N/A
12/31/201891-1N/A-28N/A
9/30/201873-1N/A9N/A
6/30/201810323N/A23N/A
3/31/201810516N/A3N/A
12/31/201711417N/A23N/A
9/30/201725388N/A81N/A
6/30/201724370N/A68N/A
3/31/201725771N/A77N/A
12/31/201624969N/A64N/A
9/30/2016106-9N/A-74N/A
6/30/201682-23N/A-90N/A
3/31/20161069N/A-69N/A
12/31/20151103N/A-102N/A
9/30/2015108-3N/A-72N/A
6/30/20151658N/A-67N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: PNE3 is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.9%).

Earnings vs Market: PNE3 is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: PNE3 is expected to become profitable in the next 3 years.

Revenue vs Market: PNE3's revenue (1.7% per year) is forecast to grow slower than the German market (6.7% per year).

High Growth Revenue: PNE3's revenue (1.7% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: PNE3's Return on Equity is forecast to be low in 3 years time (10.2%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/11 18:08
End of Day Share Price 2026/06/11 00:00
Earnings2025/12/31
Annual Earnings2025/12/31

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.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* 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.

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 Github.

Analyst Sources

PNE AG is covered by 6 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Karsten Von BlumenthalFirst Berlin Equity Research GmbH
Jason ChannellGoldman Sachs
Anis ZgayaODDO BHF Corporate & Markets