BME:ANA

Stock Analysis Report

Executive Summary

Acciona, S.A., together with its subsidiaries, engages in the infrastructure, renewable energy, and other business in Spain and internationally.

Snowflake

Fundamentals

Average dividend payer and slightly overvalued.


Similar Companies

Share Price & News

How has Acciona's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-4.6%

ANA

-0.3%

ES Electric Utilities

2.7%

ES Market


1 Year Return

27.6%

ANA

21.4%

ES Electric Utilities

4.5%

ES Market

Return vs Industry: ANA exceeded the Spanish Electric Utilities industry which returned 21.4% over the past year.

Return vs Market: ANA exceeded the Spanish Market which returned 4.5% over the past year.


Share holder returns

ANAIndustryMarket
7 Day-4.6%-0.3%2.7%
30 Day-6.4%-0.7%1.2%
90 Day-7.6%2.4%-1.4%
1 Year31.3%27.6%26.2%21.4%8.1%4.5%
3 Year45.0%32.3%58.7%38.3%16.9%6.1%
5 Year99.8%72.5%52.4%13.7%12.7%-8.7%

Price Volatility Vs. Market

How volatile is Acciona's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

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

>50%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Undervalued: ANA (€91.25) is trading below our estimate of fair value (€190.88)

Significantly Undervalued: ANA is trading below fair value by more than 20%.


Price Based on Earnings

PE vs Industry: ANA is poor value based on its PE Ratio (16.7x) compared to the Electric Utilities industry average (11.8x).

PE vs Market: ANA is poor value based on its PE Ratio (16.7x) compared to the Spanish market (16.6x).


Price Based on Expected Growth

Low PEG Ratio: ANA is poor value based on its PEG Ratio (3.7x)


Price Based on Value of Assets

PB vs Industry: ANA is overvalued based on its PB Ratio (1.6x) compared to the XE Electric Utilities industry average (0.9x).


Next Steps

Future Growth

How is Acciona expected to perform in the next 1 to 3 years based on estimates from 12 analysts?

4.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Earnings vs Savings Rate: ANA's forecast earnings growth (4.5% per year) is above the savings rate (1.5%).

Earnings vs Market: ANA's earnings (4.5% per year) are forecast to grow slower than the Spanish market (7.4% per year).

High Growth Earnings: ANA's earnings are forecast to grow, but not significantly.

Revenue vs Market: ANA's revenue (4.1% per year) is forecast to grow faster than the Spanish market (3.7% per year).

High Growth Revenue: ANA's revenue (4.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Estimates


Future Return on Equity

High Future ROE: ANA's Return on Equity is forecast to be low in 3 years time (9.1%).


Next Steps

Past Performance

How has Acciona performed over the past 5 years?

50.9%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: ANA has become profitable over the past 5 years, growing earnings by 50.9% per year.

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

Earnings vs Industry: ANA had negative earnings growth (-8.7%) over the past year, making it difficult to compare to the Electric Utilities industry average (2.3%).


Return on Equity

High ROE: ANA's Return on Equity (10.2%) is considered low.


Return on Assets

ROA vs Industry: ANA's Return on Assets is below or equal to the Electric Utilities industry average last year.


Return on Capital Employed

ROCE Improving: ANA has significantly improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is Acciona's financial position?


Financial Position Analysis

Short Term Liabilities: ANA's short term assets (€5.0B) do not cover its short term liabilities (€6.1B)

Long Term Liabilities: ANA's short term assets (5.0B) do not cover its long term liabilities (6.2B)


Debt to Equity History and Analysis

Debt Level: ANA's debt to equity ratio (181.8%) is considered high

Reducing Debt: ANA's debt to equity ratio has reduced from 212.3% to 181.8% over the past 5 years.

Debt Coverage: ANA's debt is not well covered by operating cash flow (12.2%).

Interest Coverage: ANA's interest payments on its debt are not well covered by EBIT (2.3x coverage).


Balance Sheet

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

Debt Coverage by Assets: ANA's debt is not covered by short term assets (assets are 0.8x debt).


Next Steps

Dividend

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

4.27%

Expected Dividend Yield


Dividend Yield vs Market

company3.7%marketbottom25%2.2%markettop25%5.7%industryaverage4.7%forecastin3Years4.3%

Current dividend yield vs market & industry


Dividend Yield and Payments Analysis

Notable Dividend: ANA's dividend (3.67%) is higher than the bottom 25% of dividend payers in the Spanish market (2.24%).

High Dividend: ANA's dividend (3.67%) is low compared to the top 25% of dividend payers in the Spanish market (5.66%).

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

Growing Dividend: ANA's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (61.4%), ANA's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: ANA's dividends in 3 years are forecast to be covered by earnings (67.8% payout ratio).


Next Steps

Management

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

5.8yrs

Average management tenure


CEO

José Manuel Entrecanales Domecq 0

15.8yrs

Tenure

€29,000

Compensation

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 Chie ...


CEO Compensation Analysis

Compensation vs. Market: José Manuel's total compensation ($USD32.04K) is too low to compare against companies of similar size in the Spanish market ($USD497.24K).

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


Management Age and Tenure

5.8yrs

Average Tenure

Experienced Management: ANA's management team is seasoned and experienced (5.8 years average tenure).


Board Age and Tenure

4.8yrs

Average Tenure

Experienced Board: ANA's board of directors are considered experienced (4.8 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.


Recent Insider Transactions

Buy€249,31028 Dec 18
Juan Ignacio Entrecanales Franco
EntityIndividual
Role
Vice Chairman
Vice Chairman & MD
Shares3,253
Max Price€76.64
Buy€415,54228 Dec 18
José Manuel Entrecanales Domecq
EntityIndividual
Role
Chief Executive Officer
Executive Chairman
Shares5,422
Max Price€76.64

Ownership Breakdown


Management Team

  • Juan Ignacio Entrecanales Franco (54yo)

    Vice Chairman & MD

    • Tenure: 15.8yrs
    • Compensation: €29.00k
  • José Manuel Entrecanales Domecq

    Executive Chairman

    • Tenure: 15.8yrs
    • Compensation: €29.00k
  • Luis Castilla Cámara

    Chief Executive Officer of Infrastructure

    • Tenure: 5.8yrs
  • Juan Antonio Muro-Lara Girod

    Chief Strategy & Corporate Development Officer

    • Tenure: 14.8yrs
  • Jorge Vega-Penichet López

    General Counsel & General Secretary

    • Tenure: 13.8yrs
  • Vicente Santamaria-Paredes Castillo

    Area General Manager of Compliance

    • Tenure: 0yrs
  • Juan Silva Ferrada

    Chief Sustainability Officer

    • Tenure: 0yrs
  • Jose Joaquín Mollinedo Chocano

    Chief Institutional Relations

    • Tenure: 1.8yrs
  • Arantza Ezpeleta Puras

    Chief Technology & Innovation Officer

    • Tenure: 3yrs
  • Jose Angel Tejero Santos

    Group Chief Financial Officer

    • Tenure: 1.8yrs

Board Members

  • Juan Ignacio Entrecanales Franco (54yo)

    Vice Chairman & MD

    • Tenure: 15.8yrs
    • Compensation: €29.00k
  • José Manuel Entrecanales Domecq

    Executive Chairman

    • Tenure: 15.8yrs
    • Compensation: €29.00k
  • Daniel Entrecanales Domecq

    Non-Executive Proprietary Director

    • Tenure: 10.5yrs
    • Compensation: €154.30k
  • Javier Ignacio Entrecanales Franco

    Non-Executive Proprietary Director

    • Tenure: 8.1yrs
    • Compensation: €149.30k
  • Juan Carlos Garay Ibargaray

    Lead Independent Director

    • Tenure: 3yrs
    • Compensation: €249.40k
  • Ana Inés Saínz de Vicuña Bemberg (57yo)

    Independent Director

    • Tenure: 4.3yrs
    • Compensation: €145.30k
  • Jerónimo Marcos Gerard Rivero

    Independent Director

    • Tenure: 5.3yrs
    • Compensation: €117.40k
  • Karen Christiana Olsen

    Independent Director

    • Tenure: 2.4yrs
    • Compensation: €126.00k
  • Javier Sendagorta Gómez Del Campillo

    Independent Director

    • Tenure: 1.4yrs
    • Compensation: €88.50k
  • José María Pacheco Guardiola

    Independent Director

    • Tenure: 1.4yrs
    • Compensation: €85.60k

Company Information

Acciona, S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Acciona, S.A.
  • Ticker: ANA
  • Exchange: BME
  • Founded: 1916
  • Industry: Electric Utilities
  • Sector: Utilities
  • Market Cap: €4.969b
  • Shares outstanding: 54.45m
  • Website: https://www.acciona.com/es/?language=es

Number of Employees


Location

  • Acciona, S.A.
  • Avenida de Europa 18
  • Parque Empresarial La Moraleja
  • Alcobendas
  • Madrid
  • 28108
  • Spain

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ACXI.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1992
ANABME (Bolsas y Mercados Espanoles)YesOrdinary SharesESEURJan 1992
AJ3DB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992
0H4KLSE (London Stock Exchange)YesOrdinary SharesGBEURJan 1992
ANAEBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJan 1992
ANAWBAG (Wiener Boerse AG)YesOrdinary SharesATEURJan 1992

Biography

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 wi ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/13 20:37
End of Day Share Price2019/10/11 00:00
Earnings2019/06/30
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.

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