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Acciona

BME:ANA
Snowflake Description

Acceptable track record second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ANA
BME
€5B
Market Cap
  1. Home
  2. ES
  3. Utilities
Company description

Acciona, S.A., together with its subsidiaries, engages in the infrastructure, renewable energy, and other business in Spain and internationally. The last earnings update was 67 days ago. More info.


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ANA Share Price and Events
7 Day Returns
0.2%
BME:ANA
0.3%
Europe Electric Utilities
-1%
ES Market
1 Year Returns
41%
BME:ANA
14.6%
Europe Electric Utilities
-4.8%
ES Market
ANA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Acciona (ANA) 0.2% -4.3% -3.6% 41% 46.9% 51.2%
Europe Electric Utilities 0.3% -0.3% 6.9% 14.6% 33.8% 5.4%
ES Market -1% -0.4% -3.1% -4.8% 9.3% -16.5%
1 Year Return vs Industry and Market
  • ANA outperformed the Electric Utilities industry which returned 14.6% over the past year.
  • ANA outperformed the Market in Spain which returned -4.8% over the past year.
Price Volatility
ANA
Industry
5yr Volatility vs Market

ANA Value

 Is Acciona undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Acciona to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Acciona.

BME:ANA Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 11 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.1%
Perpetual Growth Rate 10-Year ES Government Bond Rate 1.5%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for BME:ANA
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year ES Govt Bond Rate 1.5%
Equity Risk Premium S&P Global 8.2%
Electric Utilities Unlevered Beta Simply Wall St/ S&P Global 0.26
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.26 (1 + (1- 25%) (131.16%))
0.675
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.53% + (0.8 * 8.18%)
8.07%

Discounted Cash Flow Calculation for BME:ANA using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Acciona is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

BME:ANA DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 8.07%)
2020 400.85 Analyst x4 370.92
2021 652.50 Analyst x3 558.69
2022 430.00 Analyst x2 340.68
2023 308.15 Est @ -28.34% 225.91
2024 248.44 Est @ -19.38% 168.53
2025 215.87 Est @ -13.11% 135.51
2026 197.06 Est @ -8.72% 114.46
2027 185.93 Est @ -5.64% 99.93
2028 179.44 Est @ -3.49% 89.24
2029 175.87 Est @ -1.99% 80.94
Present value of next 10 years cash flows €2,184.82
BME:ANA DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €175.87 × (1 + 1.53%) ÷ (8.07% – 1.53%)
€2,728.54
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €2,728.54 ÷ (1 + 8.07%)10
€1,255.68
BME:ANA Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €2,184.82 + €1,255.68
€3,440.50
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €3,440.50 / 51.95
€66.22
BME:ANA Discount to Share Price
Calculation Result
Value per share (EUR) From above. €66.22
Current discount Discount to share price of €98.25
= -1 x (€98.25 - €66.22) / €66.22
-48.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Acciona is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Acciona's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Acciona's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BME:ANA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in EUR €6.25
BME:ANA Share Price ** BME (2019-07-19) in EUR €98.25
Europe Electric Utilities Industry PE Ratio Median Figure of 71 Publicly-Listed Electric Utilities Companies 12.22x
Spain Market PE Ratio Median Figure of 141 Publicly-Listed Companies 17.23x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Acciona.

BME:ANA PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BME:ANA Share Price ÷ EPS (both in EUR)

= 98.25 ÷ 6.25

15.72x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Acciona is overvalued based on earnings compared to the Europe Electric Utilities industry average.
  • Acciona is good value based on earnings compared to the Spain market.
Price based on expected Growth
Does Acciona's expected growth come at a high price?
Raw Data
BME:ANA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 15.72x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts
5.8%per year
Europe Electric Utilities Industry PEG Ratio Median Figure of 34 Publicly-Listed Electric Utilities Companies 1.26x
Spain Market PEG Ratio Median Figure of 82 Publicly-Listed Companies 1.52x

*Line of best fit is calculated by linear regression .

BME:ANA PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 15.72x ÷ 5.8%

2.73x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Acciona is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Acciona's assets?
Raw Data
BME:ANA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in EUR €61.82
BME:ANA Share Price * BME (2019-07-19) in EUR €98.25
Europe Electric Utilities Industry PB Ratio Median Figure of 76 Publicly-Listed Electric Utilities Companies 0.83x
Spain Market PB Ratio Median Figure of 185 Publicly-Listed Companies 1.63x
BME:ANA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BME:ANA Share Price ÷ Book Value per Share (both in EUR)

= 98.25 ÷ 61.82

1.59x

* Primary Listing of Acciona.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Acciona is overvalued based on assets compared to the Europe Electric Utilities industry average.
X
Value checks
We assess Acciona's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Electric Utilities industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Electric Utilities industry average (and greater than 0)? (1 check)
  5. Acciona has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

ANA Future Performance

 How is Acciona expected to perform in the next 1 to 3 years based on estimates from 11 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
5.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Acciona expected to grow at an attractive rate?
  • Acciona's earnings growth is expected to exceed the low risk savings rate of 1.5%.
Growth vs Market Checks
  • Acciona's earnings growth is positive but not above the Spain market average.
  • Acciona's revenue growth is positive but not above the Spain market average.
Annual Growth Rates Comparison
Raw Data
BME:ANA Future Growth Rates Data Sources
Data Point Source Value (per year)
BME:ANA Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 11 Analysts 5.8%
BME:ANA Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 11 Analysts 1.3%
Europe Electric Utilities Industry Earnings Growth Rate Market Cap Weighted Average 8.9%
Europe Electric Utilities Industry Revenue Growth Rate Market Cap Weighted Average 4.2%
Spain Market Earnings Growth Rate Market Cap Weighted Average 7.7%
Spain Market Revenue Growth Rate Market Cap Weighted Average 4.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
BME:ANA Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BME:ANA Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 7,861 353 1
2022-12-31 7,572 1,299 340 3
2021-12-31 7,419 1,139 336 7
2020-12-31 7,304 1,062 306 11
2019-12-31 7,171 887 271 10
BME:ANA Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-03-31 7,986 571 340
2018-12-31 7,971 636 328
2018-09-30 7,950 752 210
2018-06-30 8,007 625 326
2018-03-31 7,936 482 221
2017-12-31 7,867 491 220
2017-09-30 7,445 467 236
2017-06-30 7,062 600 -164
2017-03-31 6,717 763 363
2016-12-31 6,532 823 352
2016-09-30 6,438 389
2016-06-30 6,459 639 701

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Acciona's earnings are expected to grow by 5.8% yearly, however this is not considered high growth (20% yearly).
  • Acciona's revenue is expected to grow by 1.3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
BME:ANA Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below

All data from Acciona Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BME:ANA Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31 6.07 7.23 4.91 2.00
2021-12-31 5.92 6.96 4.35 6.00
2020-12-31 5.51 6.87 3.81 10.00
2019-12-31 4.86 5.52 4.23 8.00
BME:ANA Past Financials Data
Date (Data in EUR Millions) EPS *
2019-03-31 6.25
2018-12-31 5.90
2018-09-30 3.84
2018-06-30 5.73
2018-03-31 3.88
2017-12-31 3.85
2017-09-30 4.13
2017-06-30 -2.87
2017-03-31 6.36
2016-12-31 6.17
2016-09-30 6.83
2016-06-30 12.34

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Acciona is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Acciona's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Acciona has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

ANA Past Performance

  How has Acciona performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Acciona's growth in the last year to its industry (Electric Utilities).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Acciona has delivered over 20% year on year earnings growth in the past 5 years.
  • Acciona's 1-year earnings growth is less than its 5-year average (53.8% vs 60.7%)
  • Acciona's earnings growth has exceeded the Europe Electric Utilities industry average in the past year (53.8% vs -13.2%).
Earnings and Revenue History
Acciona's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Acciona Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BME:ANA Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 7,986.46 340.03 1,493.32
2018-12-31 7,971.46 328.03 1,486.32
2018-09-30 7,950.32 210.13 1,545.03
2018-06-30 8,007.09 325.78 1,545.87
2018-03-31 7,936.32 221.13 1,511.03
2017-12-31 7,867.32 220.13 1,497.03
2017-09-30 7,445.12 235.98 1,463.56
2017-06-30 7,061.53 -164.20 1,409.80
2017-03-31 6,717.12 362.98 1,352.56
2016-12-31 6,532.12 351.98 1,319.56
2016-09-30 6,437.95 389.32 1,277.25
2016-06-30 6,458.54 700.69 1,262.10
2016-03-31 6,740.95 214.32 1,266.25
2015-12-31 6,790.95 207.32 1,254.25
2015-09-30 6,971.48 201.95 1,302.31
2015-06-30 7,133.86 219.47 1,318.01
2015-03-31 6,986.48 193.95 1,317.31
2014-12-31 6,862.48 184.95 1,316.31
2014-09-30 6,658.31 -1,898.37 1,299.44
2014-06-30 6,518.85 -1,951.89 1,302.38
2014-03-31 6,475.31 -1,973.37 1,320.44
2013-12-31 6,599.31 -1,972.37 1,343.44
2013-09-30 6,971.46 150.40 1,352.46
2013-06-30 7,214.30 157.32 1,368.85
2013-03-31 7,437.46 194.40 1,365.46
2012-12-31 7,516.46 189.40 1,352.46
2012-09-30 7,503.29 2.06 1,341.10

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Acciona has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Acciona used its assets less efficiently than the Europe Electric Utilities industry average last year based on Return on Assets.
  • Acciona has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Acciona's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Electric Utilities industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Acciona has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

ANA Health

 How is Acciona's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Acciona's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Acciona's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Acciona's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Acciona's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Acciona Company Filings, last reported 3 months ago.

BME:ANA Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 3,578.00 6,479.00 1,746.00
2018-12-31 3,495.14 6,556.28 1,762.76
2018-09-30 3,376.00 6,674.00 1,629.00
2018-06-30 3,378.58 6,130.54 1,403.12
2018-03-31 3,557.00 6,867.00 1,493.00
2017-12-31 3,963.27 7,096.17 1,352.13
2017-09-30 4,044.00 7,181.00 1,486.00
2017-06-30 3,922.50 6,961.10 1,420.31
2017-03-31 4,181.00 7,040.00 1,542.00
2016-12-31 4,097.35 7,150.63 1,452.18
2016-09-30 4,098.00 7,261.00 1,836.00
2016-06-30 4,243.60 7,349.35 1,906.39
2016-03-31 3,785.00 7,438.00 2,042.00
2015-12-31 3,754.15 7,452.53 1,851.22
2015-09-30 3,693.00 7,126.00 1,758.00
2015-06-30 3,740.81 7,077.88 1,934.01
2015-03-31 3,726.00 7,271.00 1,891.00
2014-12-31 3,613.49 7,416.34 1,684.72
2014-09-30 3,518.00 7,566.00 1,645.00
2014-06-30 3,468.83 7,363.78 1,531.28
2014-03-31 3,434.00 7,396.00 1,495.00
2013-12-31 3,396.29 7,827.90 1,485.69
2013-09-30 5,494.00 8,985.00 1,612.00
2013-06-30 5,440.11 8,863.91 1,505.60
2013-03-31 5,531.00 9,122.00 1,573.00
2012-12-31 5,508.27 9,596.11 1,547.68
2012-09-30 5,459.00 9,473.00 1,784.00
  • Acciona's level of debt (181.1%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (215.3% vs 181.1% today).
  • Debt is not well covered by operating cash flow (8.8%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 1.9x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Acciona's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Acciona has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

ANA Dividends

 What is Acciona's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.41%
Current annual income from Acciona dividends. Estimated to be 3.78% next year.
If you bought €2,000 of Acciona shares you are expected to receive €68 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Acciona's pays a higher dividend yield than the bottom 25% of dividend payers in Spain (2.3%).
  • Acciona's dividend is below the markets top 25% of dividend payers in Spain (5.43%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
BME:ANA Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 11 Analyst Estimates (S&P Global) See Below
Europe Electric Utilities Industry Average Dividend Yield Market Cap Weighted Average of 44 Stocks 4.3%
Spain Market Average Dividend Yield Market Cap Weighted Average of 77 Stocks 4.4%
Spain Minimum Threshold Dividend Yield 10th Percentile 1.2%
Spain Bottom 25% Dividend Yield 25th Percentile 2.3%
Spain Top 25% Dividend Yield 75th Percentile 5.4%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

BME:ANA Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 4.75 1.00
2022-12-31 4.18 3.00
2021-12-31 3.79 8.00
2020-12-31 3.58 12.00
2019-12-31 3.52 7.00
BME:ANA Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-03-01 3.350 3.405
2018-02-27 3.000 4.102
2017-05-15 2.875 3.972
2017-03-01 2.875 3.840
2016-05-12 2.500 3.704
2016-03-01 2.500 3.635
2015-05-08 2.000 2.816
2015-02-26 2.000 2.831
2014-11-06 0.000 0.000
2014-07-30 0.000 0.000
2014-05-14 0.000 0.000
2014-04-09 0.000 0.000
2014-04-07 0.000 0.000
2013-05-13 2.650 5.944
2013-03-06 2.650 5.685
2013-02-28 2.650 5.762
2013-01-11 2.874 5.434
2012-05-11 3.000 6.814
2012-02-24 3.000 5.834
2011-03-31 3.100 4.608
2011-02-28 3.100 4.195
2011-01-14 3.010 4.645
2010-05-12 3.010 4.912
2010-02-24 3.010 3.721
2010-01-15 3.010 3.517
2009-12-18 2.920 3.118
2009-05-13 2.920 3.282
2009-03-02 2.920 3.636
2008-07-30 3.650 4.066

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Acciona's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.5x coverage).
X
Income/ dividend checks
We assess Acciona's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.2%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Acciona afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Acciona has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

ANA Management

 What is the CEO of Acciona's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
José Entrecanales Domecq
COMPENSATION €29,000
TENURE AS CEO 15.5 years
CEO Bio

Mr. José Manuel Entrecanales Domecq has been Chairman and Chief Executive Officer of Acciona Mantenimiento de Infraestructuras SA since 2004. Mr. Entrecanales Domecq has been an Executive Chairman and Chief Executive Officer of Acciona, S.A. since 2004. He served as the Chief of International Operations of Enel SpA. He served as Chief Financial Officer of Acciona, S.A. since May 25, 2002 and also served as its President and Managing Director. He serves as Chairman of the Board of Acciona Energy North America Corporation and Acciona Solar Power, Inc. In 1994, he participated in the launch of Airtel, a mobile telecommunications company that later became Vodafone Spain, of which he was President from 2001 to 2007. He serves as Chairman of the Fundación Consejo España EEUU. He served as Chairman of the Instituto de la Empresa Familiar from 2012 to 2014 and serves as its Member of the Board. He is the Chairman of the Trustees and Founder of Fundación para la Innovación en Sostenibilidad José Manuel Entrecanales Foundation. He served as the Chairman of the Board of Vodafone España S.A.U. He serves as Chairman of the ACCIONA Microenergy Foundation. He served as Chairman of Endesa, S.A. from October 2007 to March 23, 2009. Mr. Entrecanales Domecq has been Director of Acciona, S.A. since April 14, 1997. He serves as a Director of Álvaro Domecq S.L. He served as a Director at Banco Gallego, S.A. He served as a Director of Grupo Ezentis SA. Mr. Entrecanales Domecq served as Member of Strategy Commission. He is also a patron of the Princess of Asturias Foundation and the Prado Museum and member of the Casa Ducal de Medinaceli Foundation. He is a Founding Member of the Pro CNIC Foundation.

CEO Compensation
  • José's compensation has been consistent with company performance over the past year, both up more than 20%.
  • José's remuneration is lower than average for companies of similar size in Spain.
Management Team Tenure

Average tenure of the Acciona management team in years:

5.9
Average Tenure
  • The average tenure for the Acciona management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

José Entrecanales Domecq

TITLE
Executive Chairman & CEO
COMPENSATION
€29K
TENURE
15.5 yrs

Juan Ignacio Entrecanales Franco

TITLE
Vice Chairman
COMPENSATION
€29K
AGE
54

Jose Angel Santos

TITLE
Group Chief Financial Officer
TENURE
1.5 yrs

Arantza Ezpeleta Puras

TITLE
Chief Technology & Innovation Officer
TENURE
2.8 yrs

Jorge Vega-Penichet López

TITLE
General Counsel & General Secretary
TENURE
13.5 yrs

Vicente Castillo

TITLE
Area General Manager of Compliance

Juan Muro-Lara Girod

TITLE
Chief Strategy & Corporate Development Officer
TENURE
14.5 yrs

Jose Mollinedo Chocano

TITLE
Chief Institutional Relations
TENURE
1.5 yrs

Luis Castilla Cámara

TITLE
Chief Executive Officer of Infrastructure
TENURE
5.5 yrs

Rafael Alcala

TITLE
Chief Executive Officer of Energy
AGE
60
TENURE
6.3 yrs
Board of Directors Tenure

Average tenure of the Acciona board of directors in years:

4.6
Average Tenure
  • The tenure for the Acciona board of directors is about average.
Board of Directors

Juan Ignacio Entrecanales Franco

TITLE
Vice Chairman
COMPENSATION
€29K
AGE
54
TENURE
15.5 yrs

Juan Garay Ibargaray

TITLE
Lead Independent Director
COMPENSATION
€249K
TENURE
2.8 yrs

José Entrecanales Domecq

TITLE
Executive Chairman & CEO
COMPENSATION
€29K
TENURE
15.5 yrs

Ana de Vicuña Bemberg

TITLE
Independent Director
COMPENSATION
€145K
AGE
57
TENURE
4.1 yrs

Daniel Entrecanales Domecq

TITLE
Non-Executive Proprietary Director
COMPENSATION
€154K
TENURE
10.3 yrs

Javier Ignacio Franco

TITLE
Non-Executive Proprietary Director
COMPENSATION
€149K
TENURE
7.8 yrs

Jerónimo Marcos Gerard Rivero

TITLE
Independent Director
COMPENSATION
€117K
TENURE
5.1 yrs

Karen Christiana Olsen

TITLE
Independent Director
COMPENSATION
€126K
TENURE
2.2 yrs

Javier Sendagorta Gómez Campillo

TITLE
Independent Director
COMPENSATION
€89K
TENURE
1.2 yrs

José María Guardiola

TITLE
Independent Director
COMPENSATION
€86K
TENURE
1.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
28. Dec 18 Buy José Entrecanales Domecq Individual 21. Dec 18 21. Dec 18 5,422 €76.64 €415,542
28. Dec 18 Buy Juan Ignacio Entrecanales Franco Individual 21. Dec 18 21. Dec 18 3,253 €76.64 €249,310
X
Management checks
We assess Acciona's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Acciona has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

ANA News

Simply Wall St News

What To Know Before Buying Acciona, S.A. (BME:ANA) For Its Dividend

The company currently pays out a dividend yield of 3.4% to shareholders, making it a relatively attractive dividend stock. … View our latest analysis for Acciona … 5 questions I ask before picking a dividend stock

Simply Wall St -

Acciona, S.A.’s (BME:ANA) Investment Returns Are Lagging Its Industry

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … What is Return On Capital Employed (ROCE)? … Analysts use this formula to calculate return on capital employed:

Simply Wall St -

Boasting A 10% Return On Equity, Is Acciona SA (BME:ANA) A Top Quality Stock?

While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … One way to conceptualize this, is that for each €1 of shareholders' equity it has, the company made €0.10 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Acciona SA (BME:ANA): Can It Deliver A Superior ROE To The Industry?

With an ROE of 7.14%, Acciona SA (BME:ANA) returned in-line to its own industry which delivered 8.70% over the past year. … But what is more interesting is whether ANA can sustain or improve on this level of return. … I will take you through how metrics such as financial leverage impact ROE which may affect the overall sustainability of ANA's returns

Simply Wall St -

Have Investors Priced In Acciona SA's (BME:ANA) Growth?

saw a decent share price growth in the teens level on the BME over the last few months. … With many analysts covering the mid-cap stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price? … Let’s examine Acciona’s valuation and outlook in more detail to determine if there’s still a bargain opportunity

Simply Wall St -

Read This Before Buying Acciona SA (BME:ANA) For Its Upcoming €2.43 Dividend

If you are interested in cashing in on Acciona SA's (BME:ANA) upcoming dividend of €2.43 per share, you only have 2 days left to buy the shares before its ex-dividend date, 28 June 2018, in time for dividends payable on the 02 July 2018. … Investors looking for higher income-generating stocks to add to their portfolio should keep reading, as I take a deeper dive into Acciona's latest financial data to analyse its dividend attributes. … Here's how I find good dividend stocks

Simply Wall St -

Is Acciona SA (BME:ANA) Cheap For A Reason?

the sustainability of its future growth, the opportunity cost of investing in the stock accounting for the returns I could have gotten in other peers, and its cash-to-debt management. … engages in the development and management of infrastructure, renewable energy, water, and services in Spain and internationally. … Started in , it operates in Spain and is recently valued at €4.08b

Simply Wall St -

Acciona SA.'s (BME:ANA) Earnings Dropped -39.08%, Did Its Industry Show Weakness Too?

I prefer to use the ‘latest twelve-month’ data, which annualizes the most recent half-year data, or in some cases, the latest annual report is already the most recent financial year data. … For Acciona, its most recent earnings (trailing twelve month) is €221.13M, which, relative to the prior year's level, has taken a dive by a non-trivial -39.08%. … I suggest you continue to research Acciona to get a better picture of the stock by looking at: Future Outlook: What are well-informed industry analysts predicting for ANA’s future growth?

Simply Wall St -

Why Acciona SA. (BME:ANA) Could Be A Buy

This means that the buying opportunity has probably disappeared for now. … Although value investors would argue that it’s the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price. … If you believe ANA should trade below its current price, selling high and buying it back up again when its price falls towards its real value can be profitable.

Simply Wall St -

With An ROE Of 6.33%, Can Acciona SA. (BME:ANA) Catch Up To The Industry?

View our latest analysis for Acciona Peeling the layers of ROE – trisecting a company’s profitability Return on Equity (ROE) is a measure of Acciona’s profit relative to its shareholders’ equity. … ROE can be broken down into three different ratios: net profit margin, asset turnover, and financial leverage. … This is called the Dupont Formula: Dupont Formula ROE = profit margin × asset turnover × financial leverage ROE = (annual net profit ÷ sales) × (sales ÷ assets) × (assets ÷ shareholders’ equity) ROE = annual net profit ÷ shareholders’ equity BME:ANA Last Perf May 2nd 18 The first component is profit margin, which measures how much of sales is retained after the company pays for all its expenses.

Simply Wall St -

ANA Company Info

Description

Acciona, S.A., together with its subsidiaries, engages in the infrastructure, renewable energy, and other business in Spain and internationally. The company develops, constructs, operates, and maintains wind, solar photovoltaic, solar thermal, hydro, and biomass plants; and engages in the storage, regasification, treatment, transport, and distribution of natural gas, as well as undertakes storage and refining, petrochemical, and fertilizer projects. It also engages in the construction, engineering, maintenance, and management of public work concessions primarily in the field of transport and social infrastructures, including bridges, roads, and special structures; railroads and tunnels; and hospital and university projects, irrigation, and ports and hydro projects, as well as projects in engineering, concessions, and other businesses. In addition, the company designs, constructs, and operates drinking water treatment plants, desalination facilities, wastewater treatment plants, and tertiary treatment plants for water reuse; and offers service management services, which include water treatment, delivering it to inhabitants, treating urban and industrial wastewater, and billing end-users, as well as undertakes industrial projects. Further, it provides facility, airport handling, waste collection and management, logistics, technical, energy, forwarding, rail, urban and environmental maintenance, healthcare, smart city, and event and museum services. Additionally, the company engages in the financial, fund management, real estate, stock broking, wine production, and other businesses. Acciona, S.A. was incorporated in 1916 and is headquartered in Alcobendas, Spain.

Details
Name: Acciona, S.A.
ANA
Exchange: BME
Founded: 1916
€5,096,740,177
51,954,538
Website: http://www.acciona.com/es/?language=es
Address: Acciona, S.A.
Avenida de Europa 18,
Parque Empresarial La Moraleja,
Alcobendas,
Madrid, 28108,
Spain
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BME ANA Ordinary Shares Bolsas y Mercados Espanoles ES EUR 02. Jan 1992
OTCPK ACXI.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB AJ3 Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
LSE 0H4K Ordinary Shares London Stock Exchange GB EUR 02. Jan 1992
WBAG ANA Ordinary Shares Wiener Boerse AG AT EUR 02. Jan 1992
BATS-CHIXE ANAE Ordinary Shares BATS 'Chi-X Europe' GB EUR 02. Jan 1992
Number of employees
Current staff
Staff numbers
37,521
Acciona employees.
Industry
Electric Utilities
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/20 20:37
End of day share price update: 2019/07/19 00:00
Last estimates confirmation: 2019/07/02
Last earnings filing: 2019/05/14
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.