XTRA:EBK

Stock Analysis Report

EnBW Energie Baden-Württemberg

Executive Summary

EnBW Energie Baden-Württemberg AG operates as an integrated energy company in Germany and rest of Europe, and internationally.


Snowflake Analysis

Mediocre balance sheet with poor track record.


Similar Companies

Share Price & News

How has EnBW Energie Baden-Württemberg's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: EBK has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0.4%

EBK

2.2%

DE Electric Utilities

-0.9%

DE Market


1 Year Return

51.2%

EBK

33.6%

DE Electric Utilities

12.8%

DE Market

Return vs Industry: EBK exceeded the German Electric Utilities industry which returned 33.6% over the past year.

Return vs Market: EBK exceeded the German Market which returned 12.8% over the past year.


Shareholder returns

EBKIndustryMarket
7 Day0.4%2.2%-0.9%
30 Day-0.8%7.2%-0.4%
90 Day5.1%20.2%2.3%
1 Year54.2%51.2%38.8%33.6%16.3%12.8%
3 Year147.6%138.3%87.7%63.5%15.8%5.7%
5 Year115.0%96.8%68.4%30.2%19.7%3.3%

Price Volatility Vs. Market

How volatile is EnBW Energie Baden-Württemberg's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is EnBW Energie Baden-Württemberg undervalued compared to its fair value and its price relative to the market?

87.35x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: EBK (€49.6) is trading above our estimate of fair value (€14.94)

Significantly Below Fair Value: EBK is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: EBK is poor value based on its PE Ratio (87.3x) compared to the Electric Utilities industry average (13.5x).

PE vs Market: EBK is poor value based on its PE Ratio (87.3x) compared to the German market (21x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate EBK's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: EBK is overvalued based on its PB Ratio (4.2x) compared to the XE Electric Utilities industry average (1x).


Next Steps

Future Growth

How is EnBW Energie Baden-Württemberg forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

5.9%

Forecasted Utilities industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as EnBW Energie Baden-Württemberg has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has EnBW Energie Baden-Württemberg performed over the past 5 years?

25.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: EBK has a large one-off gain of €68.3M impacting its September 30 2019 financial results.

Growing Profit Margin: EBK's current net profit margins (0.8%) are lower than last year (3%).


Past Earnings Growth Analysis

Earnings Trend: EBK has become profitable over the past 5 years, growing earnings by 25.5% per year.

Accelerating Growth: EBK's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: EBK had negative earnings growth (-76.5%) over the past year, making it difficult to compare to the Electric Utilities industry average (6%).


Return on Equity

High ROE: EBK's Return on Equity (4.7%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is EnBW Energie Baden-Württemberg's financial position?


Financial Position Analysis

Short Term Liabilities: EBK's short term assets (€10.4B) exceed its short term liabilities (€9.3B).

Long Term Liabilities: EBK's short term assets (€10.4B) do not cover its long term liabilities (€25.2B).


Debt to Equity History and Analysis

Debt Level: EBK's debt to equity ratio (153%) is considered high.

Reducing Debt: EBK's debt to equity ratio has reduced from 182.3% to 153% over the past 5 years.

Debt Coverage: EBK's debt is not well covered by operating cash flow (5.3%).

Interest Coverage: EBK's interest payments on its debt are well covered by EBIT (7.3x coverage).


Balance Sheet

Inventory Level: EBK has a high level of physical assets or inventory.

Debt Coverage by Assets: EBK's debt is covered by short term assets (assets are 1.3x debt).


Next Steps

Dividend

What is EnBW Energie Baden-Württemberg's current dividend yield, its reliability and sustainability?

1.31%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: EBK's dividend (1.31%) isn’t notable compared to the bottom 25% of dividend payers in the German market (1.31%).

High Dividend: EBK's dividend (1.31%) is low compared to the top 25% of dividend payers in the German market (3.63%).


Stability and Growth of Payments

Stable Dividend: EBK's dividend payments have been volatile in the past 10 years.

Growing Dividend: EBK's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (114.5%), EBK's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

8.1yrs

Average management tenure


CEO

Frank Mastiaux (55yo)

7.3yrs

Tenure

€3,289,749

Compensation

Dr. Frank Mastiaux has been the Chairman of Management Board and Chief Executive Officer at EnBW Energie Baden-Württemberg AG since October 01, 2012 and has been its Member of Management Board since Octobe ...


CEO Compensation Analysis

Compensation vs Market: Frank's total compensation ($USD3.57M) is about average for companies of similar size in the German market ($USD4.38M).

Compensation vs Earnings: Frank's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Frank Mastiaux
Chairman of the Management Board & CEO7.3yrs€3.29mno data
Thomas Kusterer
CFO & Member of the Management Board8.8yrs€1.82mno data
Hans-Josef Zimmer
CTO & Member of the Management Board12.3yrs€1.70mno data
Bernd-Michael Zinow
Head of Legal Svcs13.8yrs€79.05kno data
Colette Rückert-Hennen
Chief Human Resources & Member of the Management Board1.1yrsno datano data
Ingo Voigt
Head of Finance0yrsno datano data
Timo Sillober
Head of Sales0yrsno datano data
Heinz Dürr
Deputy Chairman of Advisory Board0yrsno datano data
Marc Burgstahler
Head of Electromobility0yrsno datano data
Amadeus Regerbis
Head of Charging Infrastructure for Electromobility0yrsno datano data

8.1yrs

Average Tenure

56.5yo

Average Age

Experienced Management: EBK's management team is seasoned and experienced (8.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Bernd-Michael Zinow
Head of Legal Svcs13.8yrs€79.05kno data
Heinz Dürr
Deputy Chairman of Advisory Board0yrsno datano data
Matthias Wissmann
Member of Advisory Board0yrsno datano data
Hartmut Weule
Member of Advisory Board0yrsno datano data
Theodor Waigel
Member of Advisory Board0yrsno datano data
Med Schuster
Member of Advisory Board0yrsno datano data
Wolfgang Schürle
Chairman of Advisory Board14.2yrs€21.69kno data
Dietrich Herd
Deputy Chairman of Supervisory Board13.8yrs€94.25kno data
Gunda Röstel
Member of Supervisory Board8.8yrs€75.51kno data
Lutz Feldmann
Chairman of Supervisory Board3.8yrs€110.75kno data

13.8yrs

Average Tenure

71yo

Average Age

Experienced Board: EBK's board of directors are seasoned and experienced ( 13.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

EnBW Energie Baden-Württemberg AG's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: EnBW Energie Baden-Württemberg AG
  • Ticker: EBK
  • Exchange: XTRA
  • Founded: 1997
  • Industry: Electric Utilities
  • Sector: Utilities
  • Market Cap: €13.434b
  • Shares outstanding: 270.86m
  • Website: https://www.enbw.com

Number of Employees


Location

  • EnBW Energie Baden-Württemberg AG
  • Durlacher Allee 93
  • Karlsruhe
  • Baden-Württemberg
  • 76131
  • Germany

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
EBKDB (Deutsche Boerse AG)YesBearer SharesDEEURNov 1997
EBKXTRA (XETRA Trading Platform)YesBearer SharesDEEURNov 1997
0IHQLSE (London Stock Exchange)YesBearer SharesGBEURNov 1997

Biography

EnBW Energie Baden-Württemberg AG operates as an integrated energy company in Germany and rest of Europe, and internationally. It operates through four segments: Sales, Grids, Renewable Energies, and Generation and Trading. The Sales segment sells electricity and gas; and provides energy industry services, such as billing services, energy supply and energy saving contracting, and new energy solutions. The Grids segment transmits and distributes electricity and gas; offers grid-related services; and supplies water. The Renewable Energies segment generates power from renewable energy sources consisting of hydropower, wind power, and solar power. The Generation and Trading segment advises, constructs, operates, and dismantles thermal power plants; stores gas; provides system services for the operators of transmission grids and waste management/environmental services; and operates reserve power plants. This segment is also involved in the electricity and gas trading, gas midstream, and district heating businesses; and direct distribution of renewable energy power plant. The company supplies energy solutions and energy industry services to approximately 5.5 million customers. It operates under the EnBW, Yello, NaturEnergiePlus, GVS, Erdgas Südwest, ODR, ZEAG, NaturEnergie, Pražská energetika, Stadtwerke Düsseldorf, VNG, and goldgas brands. The company primarily serves retail customers, small commercial enterprises, housing industry and agriculture industries, and commercial enterprises and industrial customers, as well as redistributors, municipal utilities, local authorities, and public entities. EnBW Energie Baden-Württemberg AG was founded in 1997 and is headquartered in Karlsruhe, Germany. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/23 21:40
End of Day Share Price2020/02/21 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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.