Endesa, S.A.

DB:ENA Stock Report

Market Cap: €20.9b

Endesa Valuation

Is ENA undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of ENA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ENA (€19.72) is trading above our estimate of fair value (€8.51)

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

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ENA?

Key metric: As ENA is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for ENA. This is calculated by dividing ENA's market cap by their current earnings.
What is ENA's PE Ratio?
PE Ratio19.3x
Earnings€1.09b
Market Cap€20.94b

Price to Earnings Ratio vs Peers

How does ENA's PE Ratio compare to its peers?

The above table shows the PE ratio for ENA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average20x
EBK EnBW Energie Baden-Württemberg
29.2xn/a€17.5b
LEC Lechwerke
25.8xn/a€2.5b
RWE RWE
8.4x-10.8%€23.7b
EOAN E.ON
16.8x8.9%€30.2b
ENA Endesa
19.3x8.5%€20.9b

Price-To-Earnings vs Peers: ENA is good value based on its Price-To-Earnings Ratio (19.3x) compared to the peer average (20x).

Price to Earnings Ratio vs Industry

How does ENA's PE Ratio compare vs other companies in the European Electric Utilities Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
ENA 19.3xIndustry Avg. 12.6xNo. of Companies10PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ENA is expensive based on its Price-To-Earnings Ratio (19.3x) compared to the European Electric Utilities industry average (12.8x).

Price to Earnings Ratio vs Fair Ratio

What is ENA's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ENA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio19.3x
Fair PE Ratio20.1x

Price-To-Earnings vs Fair Ratio: ENA is good value based on its Price-To-Earnings Ratio (19.3x) compared to the estimated Fair Price-To-Earnings Ratio (20.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ENA forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€19.69
€21.84
+10.9%
8.9%€25.30€19.50n/a21
Nov ’25€19.71
€21.66
+9.9%
8.4%€25.30€19.50n/a21
Oct ’25€19.54
€21.53
+10.2%
9.3%€25.30€18.50n/a21
Sep ’25€18.93
€21.21
+12.1%
9.9%€25.30€18.00n/a21
Aug ’25€17.82
€21.20
+19.0%
10.0%€25.30€18.00n/a21
Jul ’25€17.52
€20.87
+19.1%
10.8%€25.30€17.20n/a21
Jun ’25€18.04
€20.74
+14.9%
10.9%€25.30€17.20n/a21
May ’25€17.10
€21.08
+23.3%
12.1%€25.60€17.20n/a21
Apr ’25€17.00
€21.16
+24.4%
13.1%€25.60€16.30n/a21
Mar ’25€16.50
€21.56
+30.7%
12.2%€25.60€16.30n/a21
Feb ’25€18.23
€22.27
+22.1%
9.0%€25.60€18.30n/a21
Jan ’25€18.59
€22.08
+18.8%
8.7%€25.60€18.50n/a21
Dec ’24€19.09
€22.25
+16.5%
8.0%€25.60€19.50n/a21
Nov ’24€17.66
€22.38
+26.7%
8.0%€25.60€19.50€19.7121
Oct ’24€19.33
€22.61
+17.0%
7.5%€25.60€19.50€19.5421
Sep ’24€19.09
€22.54
+18.1%
7.7%€25.60€19.50€18.9322
Aug ’24€19.39
€22.54
+16.2%
7.7%€25.60€19.50€17.8222
Jul ’24€19.56
€22.46
+14.8%
8.0%€25.60€19.50€17.5222
Jun ’24€20.41
€22.02
+7.9%
8.9%€25.30€18.00€18.0422
May ’24€20.24
€21.89
+8.2%
9.2%€25.30€18.00€17.1022
Apr ’24€19.87
€21.85
+10.0%
8.9%€25.30€18.00€17.0022
Mar ’24€18.48
€21.74
+17.6%
8.3%€25.30€18.00€16.5021
Feb ’24€18.21
€21.53
+18.2%
8.5%€25.30€18.00€18.2321
Jan ’24€17.80
€21.59
+21.3%
9.3%€26.50€18.00€18.5920
Dec ’23€17.77
€21.98
+23.7%
11.2%€28.20€18.00€19.0921
Nov ’23€16.87
€22.60
+34.0%
10.7%€28.20€18.50€17.6621

Analyst Forecast: Target price is less than 20% higher than the current share price.

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