Executive Summary
Empresa Distribuidora y Comercializadora Norte Sociedad Anónima, a public service company, engages in the distribution and sale of electricity in Argentina.
Rewards
Risk Analysis
Snowflake Analysis
Very undervalued with high growth potential.
Share Price & News
How has Empresa Distribuidora y Comercializadora Norte Sociedad Anónima's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: PWD1's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
0.8%
PWD1
2.7%
DE Electric Utilities
0.3%
DE Market
1 Year Return
-79.6%
PWD1
25.4%
DE Electric Utilities
13.8%
DE Market
Return vs Industry: PWD1 underperformed the German Electric Utilities industry which returned 19% over the past year.
Return vs Market: PWD1 underperformed the German Market which returned 17.1% over the past year.
Shareholder returns
| PWD1 | Industry | Market | |
|---|---|---|---|
| 7 Day | 0.8% | 2.7% | 0.3% |
| 30 Day | -20.6% | 6.3% | 1.3% |
| 90 Day | -3.5% | 12.4% | 5.2% |
| 1 Year | -79.6%-79.6% | 30.3%25.4% | 17.4%13.8% |
| 3 Year | -82.6%-82.6% | 76.7%53.9% | 15.9%5.7% |
| 5 Year | -44.0%-44.0% | 61.8%25.2% | 27.9%10.6% |
Price Volatility Vs. Market
How volatile is Empresa Distribuidora y Comercializadora Norte Sociedad Anónima's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Valuation
Is Empresa Distribuidora y Comercializadora Norte Sociedad Anónima undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: PWD1 (€5) is trading below our estimate of fair value (€90.15)
Significantly Below Fair Value: PWD1 is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: PWD1 is good value based on its PE Ratio (2.2x) compared to the Electric Utilities industry average (13.5x).
PE vs Market: PWD1 is good value based on its PE Ratio (2.2x) compared to the German market (20.6x).
Price to Earnings Growth Ratio
PEG Ratio: PWD1 is good value based on its PEG Ratio (0.1x)
Price to Book Ratio
PB vs Industry: PWD1 is good value based on its PB Ratio (0.4x) compared to the XE Electric Utilities industry average (0.9x).
Next Steps
Future Growth
How is Empresa Distribuidora y Comercializadora Norte Sociedad Anónima forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?
21.3%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: PWD1's forecast earnings growth (21.3% per year) is above the savings rate (-0.4%).
Earnings vs Market: PWD1's earnings (21.3% per year) are forecast to grow faster than the German market (13.2% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: PWD1's revenue (19.5% per year) is forecast to grow faster than the German market (4.8% per year).
High Growth Revenue: PWD1's revenue (20.1% per year) is forecast to grow faster than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: PWD1's Return on Equity is forecast to be low in 3 years time (9%).
Next Steps
Past Performance
How has Empresa Distribuidora y Comercializadora Norte Sociedad Anónima performed over the past 5 years?
62.3%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: PWD1 has a high level of non-cash earnings.
Growing Profit Margin: PWD1's current net profit margins (16.6%) are higher than last year (13.7%).
Past Earnings Growth Analysis
Earnings Trend: PWD1 has become profitable over the past 5 years, growing earnings by 62.3% per year.
Accelerating Growth: PWD1's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: PWD1 had negative earnings growth (-16.4%) over the past year, making it difficult to compare to the Electric Utilities industry average (4.7%).
Return on Equity
High ROE: PWD1's Return on Equity (17.7%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Empresa Distribuidora y Comercializadora Norte Sociedad Anónima's financial position?
Financial Position Analysis
Short Term Liabilities: PWD1's short term assets (ARS20.1B) do not cover its short term liabilities (ARS22.7B).
Long Term Liabilities: PWD1's short term assets (ARS20.1B) do not cover its long term liabilities (ARS33.1B).
Debt to Equity History and Analysis
Debt Level: PWD1's debt to equity ratio (22.1%) is considered satisfactory.
Reducing Debt: PWD1 had negative shareholder equity 5 years ago, but is now positive and has therefore improved.
Debt Coverage: PWD1's debt is well covered by operating cash flow (23.9%).
Interest Coverage: PWD1's interest payments on its debt are not well covered by EBIT (0x coverage).
Balance Sheet
Inventory Level: PWD1 has a high level of physical assets or inventory.
Debt Coverage by Assets: PWD1's debt is covered by short term assets (assets are 1.7x debt).
Next Steps
Dividend
What is Empresa Distribuidora y Comercializadora Norte Sociedad Anónima's current dividend yield, its reliability and sustainability?
19.76%
Forecast Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: Unable to evaluate PWD1's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.
High Dividend: Unable to evaluate PWD1's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if PWD1's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if PWD1's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of PWD1's dividend in 3 years as they are not forecast to pay a notable one for the German market.
Next Steps
Management
What is the CEO of Empresa Distribuidora y Comercializadora Norte Sociedad Anónima's salary, the management and board of directors tenure and is there insider trading?
7.7yrs
Average management tenure
CEO
Ricardo Torres (61yo)
4.5yrs
Tenure
Mr. Ricardo Alejandro Torres is a Co-Founder of Pampa Energía S.A. and had been its Chief Executive Officer since November 2005 until December 2018 and served as its Chief Financial Officer & Chief of Dist ...
Management Age and Tenure
7.7yrs
Average Tenure
55yo
Average Age
Experienced Management: PWD1's management team is seasoned and experienced (7.7 years average tenure).
Board Age and Tenure
3.0yrs
Average Tenure
54yo
Average Age
Experienced Board: PWD1's board of directors are considered experienced (3 years average tenure).
Insider Trading
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.
Management Team
Eduardo Abel Maggi (64yo)
Director of Operations
- Tenure: 2yrs
Ricardo Torres (61yo)
Chairman & CEO
- Tenure: 4.5yrs
Ariel Schapira (57yo)
Digital Transformation Director
- Tenure: 0.8yrs
Victor Augusto Ruiz (60yo)
Principal Accounting Officer
Daniel Flaks (55yo)
Technical Director
- Tenure: 8yrs
Leandro Carlos Montero (43yo)
Chief Financial Officer
- Tenure: 8yrs
Gerardo Tabakman (44yo)
Customer Services Director
- Tenure: 2yrs
Carlos Dionisio Ariosa (53yo)
Legal Affairs Manager
- Tenure: 2yrs
Mariana De La Fuente (51yo)
Director of Human Resources
- Tenure: 5.5yrs
Board Members
María Carolina Sigwald (52yo)
Director
- Tenure: 4yrs
Gustavo Mariani (49yo)
Vice Chairman
- Tenure: 7yrs
Diego Martín Salaverri (55yo)
Director
- Tenure: 0.8yrs
Eduardo Abel Maggi (64yo)
Director of Operations
- Tenure: 2yrs
Ricardo Torres (61yo)
Chairman & CEO
- Tenure: 4.5yrs
Ariel Schapira (57yo)
Digital Transformation Director
- Tenure: 0.8yrs
Daniel Flaks (55yo)
Technical Director
- Tenure: 8yrs
Leandro Carlos Montero (43yo)
Chief Financial Officer
- Tenure: 8yrs
Gerardo Tabakman (44yo)
Customer Services Director
- Tenure: 2yrs
Carlos Dionisio Ariosa (53yo)
Legal Affairs Manager
- Tenure: 2yrs
Company Information
Empresa Distribuidora y Comercializadora Norte Sociedad Anónima's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Empresa Distribuidora y Comercializadora Norte Sociedad Anónima
- Ticker: PWD1
- Exchange: DB
- Founded: 1992
- Industry: Electric Utilities
- Sector: Utilities
- Market Cap: AR$19.383b
- Listing Market Cap: AR$292.500m
- Shares outstanding: 875.07m
- Website: https://www.edenor.com.ar
Number of Employees
Location
- Empresa Distribuidora y Comercializadora Norte Sociedad Anónima
- Avenida del Libertador 6363
- Piso 1
- Buenos Aires
- Capital Federal
- C1428ARG
- Argentina
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| PWD1 | DB (Deutsche Boerse AG) | ADR EACH REP 20 CLASS 'B' ARS1 | DE | EUR | Apr 2007 | |
| EDN | NYSE (New York Stock Exchange) | ADR EACH REP 20 CLASS 'B' ARS1 | US | USD | Apr 2007 | |
| EDN | BASE (Buenos Aires Stock Exchange) | Yes | Class B Shares | AR | ARS | Jul 2007 |
Biography
Empresa Distribuidora y Comercializadora Norte Sociedad Anónima, a public service company, engages in the distribution and sale of electricity in Argentina. It serves approximately 8.5 million people in the northwestern part of the greater Buenos Aires metropolitan area and the northern part of the City of Buenos Aires through the concession of 4,637 square kilometers. The company was formerly known as Empresa Distribuidora Norte Sociedad Anónima and changed its name to Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in June 1996. The company was founded in 1992 and is based in Buenos Aires, Argentina. Empresa Distribuidora y Comercializadora Norte Sociedad Anónima is a subsidiary of Pampa Energía S.A.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/01/26 21:14 |
| End of Day Share Price | 2020/01/24 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2018/12/31 |
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.