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

TRNM is good value based on its Price-To-Earnings Ratio (16.7x) compared to the peer average (30.4x).

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

TRNM is expensive based on its Price-To-Earnings Ratio (16.7x) compared to the European Electric Utilities industry average (9.4x).

What is TRNM'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.

Insufficient data to calculate TRNM's Price-To-Earnings Fair Ratio for valuation analysis.

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

TRNM (€7.84) is trading above our estimate of [[fair value]] (€5.6)

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

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

Terna (BATS-CHIXE:TRNM) - Stock Price, News & Analysis

TRNM Stock Overview

Provides electricity transmission and dispatching services in Italy, other Euro-area countries, and internationally. More details

TRNM fundamental analysis
Snowflake Score
Valuation	1/6
Future Growth	2/6
Past Performance	3/6
Financial Health	2/6
Dividends	4/6

Rewards

Earnings are forecast to grow 2.12% per year

Earnings have grown 5% per year over the past 5 years

Risk Analysis

Debt is not well covered by operating cash flow

Shares are highly illiquid

Dividend of 4.23% is not well covered by cash flows

My Notes

Capture your thoughts, links and company narrative

Terna S.p.A. Competitors

SSE

LSE:SSE

UK£16.5b

Jersey Electricity

LSE:JEL

UK£131.8m

Severn Trent

LSE:SVT

UK£7.4b

United Utilities Group

LSE:UU.

UK£6.8b

Price History & Performance

Summary of share price highs, lows and changes for Terna
Historical stock prices
Current Share Price	€7.84
52 Week High	€7.84
52 Week Low	€7.62
Beta	0.46
1 Month Change	2.46%
3 Month Change	n/a
1 Year Change	n/a
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	5.89%

Recent updates

Shareholder Returns

	TRNM	GB Electric Utilities	GB Market
7D	2.9%	-0.3%	0.3%
1Y	n/a	11.5%	10.4%

Return vs Industry: Insufficient data to determine how TRNM performed against the UK Electric Utilities industry.

Return vs Market: Insufficient data to determine how TRNM performed against the UK Market.

Price Volatility

Is TRNM's price volatile compared to industry and market?
TRNM volatility
TRNM Average Weekly Movement	n/a
Electric Utilities Industry Average Movement	3.4%
Market Average Movement	4.7%
10% most volatile stocks in GB Market	10.4%
10% least volatile stocks in GB Market	2.6%

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

Volatility Over Time: Insufficient data to determine TRNM's volatility change over the past year.

About the Company

Founded	Employees	CEO	Website
1962	5,762	Giuseppina Di Foggia	www.terna.it

Terna S.p.A., together with its subsidiaries, engages in the electricity transmission and dispatching activities in Italy, Euro-area countries, and internationally. The company operates through Regulated, Non-Regulated, and International segments. It is involved in the planning, development, management, operation, and maintenance of national transmission grid; dispatching and metering; and construction of storage systems.

Terna S.p.A. Fundamentals Summary

How do Terna's earnings and revenue compare to its market cap?
TRNM fundamental statistics
Market cap	€15.30b
Earnings (TTM)	€916.60m
Revenue (TTM)	€3.18b

16.7x

P/E Ratio

4.8x

P/S Ratio

Is TRNM overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
TRNM income statement (TTM)
Revenue	€3.18b
Cost of Revenue	€585.20m
Gross Profit	€2.59b
Other Expenses	€1.68b
Earnings	€916.60m

Last Reported Earnings

Sep 30, 2023

Next Earnings Date

Mar 19, 2024

Earnings per share (EPS)	0.46
Gross Margin	81.59%
Net Profit Margin	28.83%
Debt/Equity Ratio	167.1%

How did TRNM perform over the long term?

See historical performance and comparison

Dividends

4.2%

Current Dividend Yield

71%

Payout Ratio

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/02/06 14:22
End of Day Share Price	2024/01/31 00:00
Earnings	2023/09/30
Annual Earnings	2022/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Terna S.p.A. is covered by 36 analysts. 15 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Francesco Sala	Banca Akros S.p.A. (ESN)
Claudia Introvigne	Banca Leonardo
Virginia Sanz de Madrid Gross	Banco Santander

Terna BATS-CHIXE:TRNM Stock Report